Post Market Report, November 11, 2015 | Stocks and Commodities

November 11, 2015
Time: 8.15 pm

Post Market Report:

1. After 12 days of weakness, finally our markets closed higher.
2. Nifty is up by 41 points on the back of positive global cues and FDI reforms announcements.
3. As expected Axis bank, Yes Bank and Kotak Bank were up.
4. That lifted the Bank Nifty more than 100 points.
5. Since the markets traded positive after 12 days of weakness, heavily beaten down stocks saw some short covering.
6. Heavily beaten down stocks like Sun Pharma, Dr Reddy, L&T, BHEL all went up.
7. But Nifty future premium has come down.
8. Our markets will react to Inflation and IIP data on Friday.
9. So any meaningful bounce back will be clear only on Friday.
10. All sectoral indices were up except FMCG.
11. 7780 should hold for the next few days, then only some recovery can be expected.
12. If not markets are likely to see another sell off.
13. Europe and US are trading in Green.
14. FII and DII data is still not out.
15. So only Friday trade will tell us whether this is the reversal or not.