Market slowdown, Infosys broken
Despite strong international signals to domestic markets, beginning with the fall. Sensex down 100 points 17 232 and the Nifty fell 21 points to open in 5256. In early trading the market seem Snblte.
IT stocks and tech stocks 4.5 per cent to 6 per cent are broken. Because of poor fourth quarter results of Infosys shares fall nearly 10 per cent. January-March 4.8 per cent in the company's earnings and profits fell 2.4 per cent.
TCS, Polaris Soft, HCL Tech, Wipro, Tech Mahindra, MindTree is looking weak in the 3.5 to 1 per cent.ITC, GAIL, Tata Power, Sun Pharma, SBI, Sterlite Industries, ICICI Bank, Maruti Suzuki, BHEL, DLF, Tata Motors, Tata Steel, NTPC, Coal India, M & M, Reliance Industries, L & T, HUL, HDFC Bank, Jindal Steel went from 2.5 to 1 per cent.
Energy and material stocks on Thursday to strengthen the U.S. market closed with a gain of 1.5 percent. Italy's auction of bonds expected to be better than the market's mood improved.
Asian markets are also booming with business. Hang Sang, Nikkei, Taiwan index, Cospi, 1.5 to 0.7 per cent strength is in the Straits Times.
Nasscom changes for fiscal year 2013 guidance!
Nasscom said that TCS and Wipro results after the financial year 2013 guidance for the IT sector can be changed. However, Nasscom expects that growth will not reduce the target.
NASSCOM in 2013 the first export of software and BPO sector was expected to grow 11-14 per cent. BSE IT and BPO companies to grow the domestic business guidance was 13-16 per cent.
According to NASSCOM IT companies in the United States does not expect a sharp fall in business. In April compared to last year's increase in visa application forms.Infosys 's poor quarterly earnings growth of the IT sector have been questioned. Infosys in the fourth quarter of fiscal year 2012 revenues of 2.4 per cent to 4.8 per cent and lowered profits.
In addition, Infosys dollars for fiscal year 2013 revenue guidance to 12-14 per cent to 8-10 per cent. Can be increased to $ 750-770 million, while 12-14 per cent was expected before.
STOCK MARKET REVIEW: 12TH APRIL 2012
BSE Small-Cap index was up by 1.01% while the BSE Mid-Cap index finished 0.85% up.CNX MIDCAP 50 index was up 0.67% and S&P CNX 500 was up around 0.68%. The SENSEX closed 133 points up at 17,332 and the NIFTY stood at 5276, up by 50 points.BSE SENSEX and NIFTY traded higher on the session initially but later shed some gains as fall in technology stocks. IT giant INFOSYS lost 2 percent as quarterly numbers to be announced on FRIDAY. The gains were hold by banking stocks as banking major State Bank of India, and Axis Bank rose by 3 percent each approximately. However the rally was also well supported by Metals, FMCG, Auto Stocks and Reliance industries. Not only banks but also Small Caps and Mid Caps gained quite nicely as it is expected that Reserve Bank of India may cut REPO RATE by 25 basis points in monetary policy scheduled to be announced on 17th APRIL.
Nifty Gainers
Today’s nifty top gainer were
JINDALSTEEL changed 5.08% with 30, 89,777 volumes
RCOM changed 4.18% with 99, 10,003 volumes
STER changed 3.97% with 97, 38,434 volumes
Nifty Losers
Today’s nifty top losers were
CAIRNS with volume 21, 11,693 and changed -2.45%
DRREDDY with volume 5, 02,497 and changed -2.25%
INFOSYS with volume 14, 75,683 and changed -1.94 %
NIFTY OUTLOOK FOR 13th APRIL 2012
NIFTY SPOT LEVEL
TREND – BEARISH
SUPPORT 1 | 5250 |
SUPPORT 2 | 5225 |
RESISTANCE 1 | 5290 |
RESISTANCE 2 | 5320 |
BANK NIFTY FUTURES
TREND- BEARISH
SUPPORT 1 | 10290 |
SUPPORT 2 | 10170 |
RESISTANCE 1 | 10470 |
RESISTANCE 2 | 10540 |
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