Daily Market Scan

After an intial lacklustre move Nifty inched up firmly and finally closed at 4898 with 2.13% gain.
Thus on a fourth consecutive section bulls continued to show the strength.

Trading Highlights

• AXIS Bank(+6.49%), SBI(+5.31%), SAIL(+5.16%), ICICI Bank(+4.77%) and HDFC Bank (+4.15%) were the top gainers in the Nifty stocks
• Bharti Airtel(-3.86%), RCom(-1.77%), Ambuja(-1.43%), HindUnilever(-0.53%) and Sterlite(-0.27%) were the top losers among Nifty stocks
• Advance : Decline in Nifty 44: 6
• Index Options PCR is at 1.36
• India VIX is at 28.92
• FII's were net buyers with equities worth Rs. 477 Cr
  
• DII's were net sellers with equities worth Rs. 287 Cr
• Banking stocks and Energy leading the gains in Nifty

Domestic Cues

• SEBI proposes changes in IPO
• Wipro's CMO Jesse Paul quits to start own firm
• ICICI Bank plans to sell 25% stake in First Source Solutions. ET Report

Global Cues

• S&P 500 is closed at 1093 (+2.22%)
• USD Index is at 75.06 (-0.92%)
• Crude Oil is at 77.37 (-0.52%)
• Gold is at 1102.6 (+0.11%)
• BDI is at 3480 (+2.56%)
• Commodity Index is at 274 (+1.76%)
• SGX Nifty is up at +44 points in the opening trade

Markets will open gap up and may face some resistance at 4950