Post Market Report, October 8, 2014 | Stocks and Commodities

October 8, 2014
Time: 7.15 pm

Post Market Report:

1. I could not write the "Pre Market Report" as I went for Sun TV program.
2. Today our market behavior was unexpectedly positive.
3. US initiated investigation against many Indian Phrma companies as they have increased the prices by 40 to 80 times(?). So all Pharma stocks fell. Pharma index fell more than 2%.
4. Citi Bank has downgraded IT sector and particularly Infosys. So IT index also fell more than 2%.
5. Other than these two, all other sectors traded positive.
6. Though Nifty closed about 10 points lower, Nifty future rose by 6 points, hence increasing the premium by 16 points.
7. Bank Nifty shot up by 200 points.
8. FIIs have sold for Rs 1440.99 crores, 13th selling in the last 15 trading sessions.
9. DIIs have bought for Rs 663.09 crores.
10. Only good earnings will move the markets higher.
11. Otherwise, with lackluster support from FIIs, markets are likely to be in sideways mode.