Markets climbing wall of worry
Three signals from the market are significant: one, the dollar index is down 0.40 per cent; two, crude is down 3 per cent; and three, safe haven buying in gold is limited. The takeaway from these market signals is that the market is climbing all walls of worries and a collapse triggered by geopolitical events is unlikely, he said.
Financials lead Sensex down
"While hoping that things won’t get worse let us look at the broad trends. In spite of the tragic geopolitical developments, globally markets are resilient. There are two main reasons for this. One, the US economy continues to be strong and this is supporting the mother market and thereby other markets, too. Two, the market view is that the Fed (Federal Reserve) will succeed in soft landing the US economy and avert a recession," he added.
Market momentum with bulls: Possibility of moving up further likely
BSESENSEX gained 287.11 points or 0.44 per cent to close at 66,282.74 points while NIFTY gained 97.55 points or 0.50 per cent to close at 19,751.05 points. The broader markets saw BSE100, BSE200 and BSE500 gain 0.55 per cent, 0.56 per cent and 0.58 per cent respectively. BSEMIDCAP was up 0.71 per cent while BSESMALLCAP was up 0.86 per cent.
Markets at crossroads - the week to decide medium term direction
The broader markets saw BSE100 gain 0.05 per cent while BSE200 and BSE500 lost 0.10 per cent and 0.02 per cent respectively. BSEMIDCAP lost 0.81 per cent while BSE SMALLCAP was up 0.79 per cent. Very clearly the breadth is yet to move with the benchmark indices.
New series begins on a positive note but sustainability?
Expiry day was weak and on expected lines while the first day of a new series saw gains for the market.
October usually a favourable month for equity markets
Sustained FII selling may continue to weigh on markets. FII selling of Rs 25,000 crore this month has pulled down the banking stocks making their valuations attractive. The Q2 results of the banking segment will be good and the market can respond positively to this, he said.
Stock exchanges introduce pre-emptive surveillance measures for small and mid-cap stocks
Market participants may note that the TFT framework shall be in conjunction with all other prevailing surveillance measures being imposed by the exchanges from time to time, BSE said in a circular.
Sensex falls below 66K mark
BSE Sensex was down 163 points at 65,845 points. Infosys, L&T, Indusind Bank, Wipro, TCS were down more than 1 per cent.