Post Market Report, May 9, 2014 | Stocks and Commodities

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May 9, 2014
Time: 9 pm

Post Market Report:

1. This month's low of Nifty was today morning.
2. But the day ended almost close to the month high.
3. We mentioned in the morning that there may be short covering rally.
4. But nobody expected such a big short covering rally.
5. Eight trading sessions losses wiped out in one day.
6. One big difference is Bank Nifty.
7. Nifty future hit the high of 6934 on 11th April.
8. On that day Bank Nifty high was 13084.
9. But today Nifty future high was 6898.
10. But Bank Nifty high was 13905.
11. So the rally is clearly led by Banks.
12. FIIs have bought for Rs 1269 crores.
13. DIIs have sold for Rs 75 crores.
14. Next week will be more volatile.
15. Meanwhile Europe and US markets are trading negtive.