Post Market Report, February 3, 2014 | Stocks and Commodities

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February 3, 2014
Time: 6.30 pm

Post Market Report:

1. Markets closed lower than expected. We expected Nifty future to take support at 6060.
2. There were two reasons for this.
3. One, FIIS have sold for Rs 736 crores. This is after selling Rs 653 crores on Friday. So in the last two trading sessions, they have sold for more than Rs 1300 crores.
4. Second, Europe opened positive but fell drastically from there.
5. Except Pharma stocks, all other sectors fell.
6. Public sector banks have done very badly.
7. Today SBI broke 1500, this was the level of SBI when Nifty was trading at 4500.
8. Andhra Bank is trading at a price, where the dividend yield is more than 9% and still no recovery.
9. But Pharma stocks have done very well as Lupin has declared very good results.
10. Market has come to the lower end of the trading range of 6000 - 6400.
11. Markets should find support around here as the 100 DMA is also very near.