Post Market Report, March 2, 2016 | Stocks and Commodities

March 2, 2016
Time: 7.30 pm

Post Market Report:

1. On Monday afternoon, Nifty was close to 6800 and Bank Nifty was close to 13400.
2. Today afternoon, Nifty was close to 7380 and Bank Nifty was close to 15100.
3. In fact, Nifty has not seen such a huge move in the last 10 years, except one time in 2009 when Nifty hit the upper circuit just after election results.
4. PSU bank index was up by 10% as RBI relaxed certain norms.
5. SBI was up by 13%.
6. Today, first time after many years, India VIX was up while markets are up.
7. There is fear among the short sellers as markets are violently moving higher.
8. But I feel that markets will stabilise from tomorrow.
9. Markets can not continue to go up like this.
10. FIIs have bought for Rs 1437.50 crores and DIIs have sold for Rs 593.67 crores.
11. Because of the market recovery, retail investors will not lose faith in the markets and hence there will not be any redemption pressure in Mutual Funds.
12. That is a good news in medium term perspective.
13. Nifty 6800 will be a very strong support for the rest of this year.
14. US markets are down due to profit booking.
15. Yet SGX Nifty is trading with minor gain.
16. I will not be surprised if Nifty crosses 7400 tomorrow.
17. But the rise will not be vertical, markets will stabilise between 7300 and 7420.