Post Market Report, January 30, 2014 | Stocks and Commodities

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January 30, 2014,
Time: 11 pm

Post Market Report:

1. Markets closed as expected.
2. We said that Nifty should move towards 6020 or 6080 towards the end of the day.
3. But it moved towards the lower end and then by short covering it moved towards the upper end.
4. FIIs ahve sold for Rs 430 crores but we have to ignore the expiry day sell figure due to the reversal trade by Hedge funds.
5. Rupee is trading between 62 and 63 is good for India.
6. Europe markets were down.
7. Bank of India fell by more than 10% due to bad results.
8. Though there was short covering in other stocks, there was no short covering in Banking stocks.
9. That is why the short covering rally was not poerful.
10. If Bank also participated, then Nifty would have reached 6120 as we reported in the afternoon.