Posts
MTECHTIPS:-Technical Snapshot:
The Nifty futures showcased a remarkable turnaround on the week’s last trading session as the frontline equity indices, after hitting the lowest point of day in mid noon trades, took a turn for the better, trimming the session’s around a percent losses and eventually settling with a green tick. The benchmark equity indices not only went on to accumulate the biggest amount of weekly gains in calendar year 2012 but also touched the highest point in around a month, sailing well beyond the psychological 5050 levels.After the weak opening and reeling under severe selling pressure for most part of the day, not many had hoped that Indian bourses would stage such a bounce back especially on a day when stock markets across the globe wilted after Federal Reserve Chairman Ben Bernanke dimmed hopes for more stimulus measures to prop up growth in world’s largest economy. However, the downside in markets remained capped after reports showed that Chinese central bank unexpectedly slashed benchmark lending and deposit rates by 25 basis points in its bid to prop up flagging growth rate while giving banks additional flexibility to set competitive lending and deposit rates.The markets rose on larger volumes of over Rs 1.45 lakh crore while the turnover for NSE F&O segment also remained on the higher side as compared to that on Thursday, at over Rs 1.05 lakh crore.
The Nifty futures showcased a remarkable turnaround on the week’s last trading session as the frontline equity indices, after hitting the lowest point of day in mid noon trades, took a turn for the better, trimming the session’s around a percent losses and eventually settling with a green tick. The benchmark equity indices not only went on to accumulate the biggest amount of weekly gains in calendar year 2012 but also touched the highest point in around a month, sailing well beyond the psychological 5050 levels.After the weak opening and reeling under severe selling pressure for most part of the day, not many had hoped that Indian bourses would stage such a bounce back especially on a day when stock markets across the globe wilted after Federal Reserve Chairman Ben Bernanke dimmed hopes for more stimulus measures to prop up growth in world’s largest economy. However, the downside in markets remained capped after reports showed that Chinese central bank unexpectedly slashed benchmark lending and deposit rates by 25 basis points in its bid to prop up flagging growth rate while giving banks additional flexibility to set competitive lending and deposit rates.The markets rose on larger volumes of over Rs 1.45 lakh crore while the turnover for NSE F&O segment also remained on the higher side as compared to that on Thursday, at over Rs 1.05 lakh crore.
No comments:
Post a Comment