Post Market Report, December 29, 2014 | Stocks and Commodities

December 29, 2014
Time: 8.20 pm

Post Market Report:

1. P Note news lead to short covering in our markets.
2. Positive Asian markets aided the sentiment.
3. But later, China markets erased most of their gains.
4. Europe also opened lower.
5. So our markets could not sustain the gains.
6. After our markets closed, news came from Greece that no president was elected and elections will have to be held in Feb. 2015.
7. That is a very bad news for already instable Euro economy.
8. If opposition wins as indicated by opinion polls, Euro will face another turbulent period in the first half of 2015.
9. US markets opened almost flat and the sentiment in Europe has improved slightly.
10. But Greece markets fell by 11% intraday and now trading about 8% lower.
11. FIIs have sold for Rs 204 crores on improved volumes.
12. DIIs have bought for Rs 360 crores, which is pleasant surprise as DIIs have bought in a rising market.
13. All sectors except Banking were up.
14. That is another surprise.
15. Auto sector were the leaders as there is a news that Excise duty cut will be extended until March 31, 2015. The official news is likely to be out on December 30.
16. So tomorrow's market movement will depend on the global cues.