Top things to look out for in the markets today
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The Enthusiasm for buying is likely to return to bourses after the
Global cues have improved further. Major Indices in the US gained between 0.5-0.7 percent as investors bought stocks after the Fed meet ended. Top Indices in EU added 0.6-1.2 percent. Markets in Asia are trading with strong upticks on Thursday. Cues from the commodity space are modestly positive. Gold Futures slipped to fresh 5-1/2 year lows; Oil Futures edged up after a large dip in US oil inventories. The metal complex remains flat.
Meanwhile, the Nifty Index closed at 8,375 points, up 38 points, at its day's high, on Wednesday. The Index still remains below the crucial 200-day moving average. The Nifty has a strong support at 8,315 levels while the resistance is seen at the 8,400 point level.
Sentiment remains bearish in the cash market as well. Foreign Institutional Investors posted net sales of 186 crores on Wednesday, their 2nd day of sales. This was more than offset by net buys of 643 crore rupees from domestic investors. The derivatives space saw sales worth 1,391 crore rupees for Index Futures; Sales of 191 crore rupees for Stock Futures; Purchases of 2,031 crore rupees for Index options and net sells of 31 crore rupees for Stock Options.
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Major Earnings today are from ITC, Dr. Reddy's, Kotak Bank, BoB, NTPC and Glenmark.
(Image credits: Indiatimes)
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