18/12/2014 Market Analysis Report On Equity

ECONOMY ANALYSIS

1. Sensex ends 71 pts down, Nifty below 8050; ITC falls 3%.
2. M&M slips 2%, production halt likely for 7 days in a month.
3. NMDC up 4%; govt asks co to ramp up production to 100 mtpa.
4. Govt receives 4,896 queries on 'Make in India' portal.
5. ONGC to use RIL payments to clear Venezuela dues.
6. Coal imports rise 7% to three-month high in Nov.

MARKET ANALYSIS

• The S&P BSE Sensex which cracked 312 points in trade on Wednesday, managed to recoup losses as media reports suggested that the state-run Life Insurance Corporation of India started buying shares to stem market fall.
• Life Insurance Corporation of India started buying shares, Reuters said in a report quoting three dealers handling trades for institutional clients.
• The S&P BSE Sensex finally closed 71.31 points lower or 0.27 per cent at 26,710.13. It hit a low of 26,469.42 and a high of 26,871.91 in trade today.
• Tracking the momentum, the 50-share Nifty index also managed to reclaim its crucial psychological level of 8,000 supported by gains in banks, metal and oil & gas stocks.
• The Nifty index finally ended 37.80 points lower or 0.47 percent at 8029.80. It hit a low of 7,961.35 and a high of 8,082 in trade today.
• The partially convertible rupee was trading at 63.63 per dollar at 03:40 pm,after weakening to as much as 63.89, its lowest since November 13, 2013. It had closed at 63.53/54 on Tuesday.