MARKET SUMMARY FOR 13 JULY 2015

The Sensex lost its early morning momentum and was trading over 30 points down following selling and caution ahead of key CPI numbers due on Monday. Similarly, Nifty was up 8,372.The Sensex surged by nearly 130 points in early trade today on continued buying by investors amid hopes of rate cut by the Reserve Bank after weak IIP numbers.the Nifty levels between 8374 and 8378 would act as the most critical levels for the market today. the bulls are successfully take out this zone then expect test of higher levels between 8400 and 8470. The 30-share barometer was trading higher 129 points, or 0.46 per cent, at 27,791 with healthcare, teck, IT, oil & gas, realty and consumer durables sector leading the gains. The Sensex had gained 87 points in the previous session.On similar lines, the Nifty recaptured the 8,400-mark by rising 44 points, or 0.52 per cent, at 8,404.Growth in industrial production in May slowed to 2.7 per cent from 5.6 per cent a year ago, dragged down by manufacturing, strengthening the case for an RBI rate cut, triggering buying by participants. Sensex that was trading flat following selling pressure jumped over 300 points in afternoon trade on Monday after Greece reached a deal with its European creditors that avoided an exit from the euro. Nifty was also trading above 8,400. Asian stock markets also soared on Monday after Greece and its European creditors agreed on a bailout deal.

STOCK TRENDS

On the sectoral front, Metal, Realty, Bankex, Capital Goods indices are trading lower between 0.2-1%. However, Healthcare, IT, Oil & Gas indices are trading higher up to 1%.Gail has gained 3% after media reports stated that the company has launched a tender to buy to liquefied natural gas (LNG) cargoes for prompt delivery, linked to demand for gas by various local fertiliser companies.Defensive stocks are trading firm in today’s trade on the back of a weak rupee. Sun Pharma, Cipla, Lupin, Dr Reddys’s Lab from the healthcare pack and TCS and Wipro from the IT space are trading higher up to 1.5%.M&M plans to raise up to Rs. 5000 crore through issuance of securities on private placement basis in local and global markets after an approval from its shareholders. The stock is up 0.6%According to a top official from Vedanta, the company will be closing the merger deal with Cairn India by March 2016. Vedanta is down 1% while Cairn India is down 2%.