Post Market Report, June 10, 2014 | Stocks and Commodities

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June 10, 2014
Time: 9.10 pm

Post Market Report:

1. In the morning we reported that correction or consolidation will be there for next few days.
2. Also we said correction, if any, will be led by Banking and Realty stocks.
3. Today markets corrected in the morning, led by Banks and Realty.
4. In the afternoon, markets recovered but Banking and Realty did not recover much.
5. Realty index ended down by 3%, PSU Bank Index was down by 1.75% and Bank Nifty was down by 1%.
6. But Nifty and Sensex ended positive.
7. Forecast of bad monsoon was the main reason for profit booking in the morning.
8. Markets recovered led by defensives in the afternoon.
9. Positive open in Europe also aided the recovery.
10. FIIs have bought for Rs 682 crores and DIIs have sold for Rs 1215 crores.
11. This huge selling by DIIs is also one of the reasons for heavy fall in the morning.
12. Now US markets are trading slightly lower.
13. As we said, markets are likely to consolidate between 7500 and 7800 for the next few weeks, until Budget.