INDIAN EQUITY MARKET OUTLOOK-16 FEBRUARY 2016

Sgx Nifty

INDIAN BENCHMARKS were trading on a flat note during the morning trading session with defence stocks in focus on announcement of the procurement policy while state-owned banks witnessed profit taking after the sharp rebound in the previous session. Cairn India, Adani Ports, Idea Cellular, ONGC, Vedanta, Tata Motors, Cipla, NTPC and ICICI Bank were among the gainers in early trades. At 9:32 am BSE SENSEX was at 23493.3, down by 60.82 points or by 0.26% while the NSE Nifty was at 7181.1, up by 18.15 points or by 0.25%. The top gainers of the BSE Sensex pack were Adani Ports & Special Economic Zone 3.40%, NTPC 1.88%, ONGC 1.85%, Bharti Airtel 1.76%, HUL 0.62%, among others. The top losers of the BSE Sensex pack were Maruti Suzuki 1.28%, L&T 1.23%, Coal India 1.19%, ICICI Bank 0.59%, Lupin 0.57%, among others. he Market breadth, indicating the overall strength of the market, was strong. On BSE, out of total 1523 shares traded, 873 shares advanced, 571 shares declined while 79 were unchanged. Among the sectoral indices on BSE, BSE_HCS index was at 15184.51, down by 127.81 points or by 0.83% led by Ajanta Pharma 3.60%, Strides Shasun 3.43%, Torrent Pharmaceuticals 2.85%, Syncom Formulation 2.68%, Morepen Laboratories 2.52%. 

Asian markets were trading higher with Chinese shares gaining the most after a subdued session on Monday. The benchmark Shanghai Composite was up 2.3% while Hang Seng was up 1.7%. Nikkei which had surged nearly 7% in the previous session was trading nearly 1% higher while Straits Times was up 0.6%.

Trend in FII flows:   

The FIIs were net  sellers of  Rs -1311.59 Cr in the cash segment on Monday while the DIIs were net buyers of  Rs 1987.45 Cr, as per the provisional figures released by the NSE.

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