Post Market Report, March 13, 2014 | Stocks and Commodities

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March 13, 2014
Time: 6.45 pm

Post Market Report:

1. Profit booking dragged the markets down. Nifty future went below the support level of 6520, touched a low of 6503, but closed at 6520.
2. But there is no change in our view that Nifty will break out.
3. This kind of profit booking should be expected as this weekend Ukraine problem may escalate.
4. Despite such a big intraday fall, banking and auto indices closed positive. Usually when the markets fall, it will be the banking stocks that will fall first. But this time that is not the case.
5. Infosys, TCS, Sun Pharma and DLF alone brought the Nifty down by more than 70 points.
6. Despite such a fall, VIX has come down for a third day in row.
7. We said in the "Dalal Street Week Ahead" that markets are likely to consolidate.
8. That is happening now, in the last 4 trading sessions, Nifty has lost only 33 points.
9. FIIs have bought for Rs 617 crores while DIIs have sold for Rs 314 crores.
10. Europe is trading positive.
11. Economic data from US are also positive and US is also trading positive.