Post Market Report, January 24, 2014 | Stocks and Commodities

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January 24, 2014
Time: 6.30 pm

Post Market Report:

1. We reported in the Mid Market Report that Nifty future should take support around 6280.
2. It closed at 6277.
3. Europe opened positive but started falling drastically after that.
4. That has dented the sentiment here.
5. US futures turned from positive to negative.
6. The fear of emerging market rout is surfacing again.
7. Emerging market index has fallen by 5% in the last 20 trading sessions.
8. Argentina currency fell by 15%.
9. Turkish currency traded at its lowest level against dollar.
10. Ukraine political problem also adding to the negative sentiment.
11. China PMI data indicating contraction in the economy, political unrest in some countries, emerging market currency depreciation, DOW fell for three consecutive days are responsible for bad sentiment across the world.
12. In fact our markets have out performed other markets in the last few days.
13. Indian rupee was trading around 62.40 at 3.30 when our markets closed but fell to 62.83 in the next one hour and closed at 62.64.
14. FIIs have sold for 231 crors which is less than what they have bought yesterday.
15. DIIs have sold just 78 crores.
16. If nothing changes, Monday our markets will open gap down.