Nifty Today : March 31,2008

source : Nse India

The market opened in negative territory tracking week global cues and extended losses in mid-morning trade on fresh selling in index pivotals. The sentiment was also hit by reports that the Institute of Chartered Accountants of India (ICAI) has asked companies to disclose losses on a mark-to-market basis incurred due to derivatives trades from the current financial year onwards. S&P CNX Nifty closed at 4734.50 down by 207.50 points.

Banks and IT have dragged the NIFTY from high levels in today's trade.

Top 2 gainers on NIFTY
1.CIPLA
2.M&M

Top 2 Losers on NIFTY
1.HDFC
2.ICICI BANK

FII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores)
Buy Value : 2959.05
Sell Value : 3824.84
Net Value : -865.79

DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores)
Buy Value : 1880.72
Sell Value: 1314.69
Net Value : 566.03


From the above provisional numbers by NSE, its clearly the FII who dragged the market. They taken a net of 866 cr's from the Market where as Domestic Instituional investors are net buyers with 566 cr's.

There is huge shorting in Nifty, contributing almost 60% of the trade happended today. There is also big call writing happened at 5000,4900 and 4800 levels, which also meant for the next couple of weeks there is a strong resistance at 4800 and above levels.