Post Market Report, December 23, 2014 | Stocks and Commodities

December 23, 2014
Time: 7.45 pm

Post Market Report:

1. Disappointing close for the markets.
2. Markets were trading within the expected range, then came the election results.
3. Though the results were in line with Exit polls, markets expected BJP to do better.
4. Then came the news that China markets falling drastically, so metal stocks started falling.
5. Then came another news that US companies are not going to budget for IT spending.
6. So IT stocks started falling. HCL Tech also announced that their earnings will be hit due to strong dollar.
7. Then came another bad news that MoS announcing that GAAR will be implemented as scheduled.
8. That spooked the markets, profit booking set in as the markets have risen significantly in the last few trading sessions.
9. So in effect, markets closed lower than expected.
10. FIIs also continued to sell in cash market, today they have sold for Rs 444.93 crores.
11. But DIIs have bought for Rs 516.34 crores, more than what FIIs have sold.
12. After our markets closed, US GDP data came at 5% which is very much above expectation.
13. So US markets are likely to rise once again and DOW may cross 18000 in the Santa claus rally.
14. So if everything goes well, Nifty is likely to expire between 8280 and 8320.