Mid-Session: Sensex up 85 pts, Nifty reclaims 9,400; Tata Motors jumps 4%
24/05/2017
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : BUY ZONE
The Indian equities continued to trade higher, holding early gains, in late morning deal on Wednesday, helped by strong buying in index heavyweights such as, Tata Motors, GAIL (India), Adani Ports & Special Economic Zone and HUL, tracking firm cues from Asian peers. The NSE Nifty reclaimed 9,400 mark as investors roll over their position ahead of the May derivatives contract expiry on Thursday added to the upward move. At 12:17 hour, the 30-share barometer Sensex was at at 30450.48, up by 85.23 points or by 0.28 per cent, and the NSE Nifty was at 9410.05, up by 23.9 points or by 0.25 per cent. In the day’s trade so far, the BSE Sensex touched intra-day high of 30534.15 and intraday low of 30395.69, while the NSE Nifty touched intraday high of 9431.9 and intraday low of 9386.35. The Indian Rupee was also trading higher against the greenback amid selling of dollar by banks and exporters, while sustained fund inflows by foreign portfolio investors also boosted home currency’s movement.
Tata Motors rallied nearly 4 per cent after the auto major reported higher-than-expected consolidated net profit after tax of Rs 4,366 crore during the fourth quarter ended March 31, 2017. Among others, Videocon Industries continued losing streak for the third day, falling 10 per cent and locked in lower circuit amid surge in the volume trade. The company is set to announce its financial results for the quarter ended March 31, 2017 on Friday. The top gainers of the BSE Sensex pack were Tata Motors Ltd. (Rs. 467.45,+3.85%), GAIL (India) Ltd. (Rs. 389.90,+2.48%), Adani Ports & Special Economic Zone Ltd. (Rs. 336.40,+1.31%), Hindustan Unilever Ltd. (Rs. 1033.20,+1.28%), Housing Development Finance Corporation Ltd. (Rs. 1530.00,+1.28%), among others. On the flip side, Cipla Ltd. (Rs. 521.90,-2.11%), Dr. Reddy's Laboratories Ltd. (Rs. 2540.95,-1.44%), Maruti Suzuki India Ltd. (Rs. 6825.10,-0.80%), State Bank of India (Rs. 286.85,-0.80%), Mahindra & Mahindra Ltd. (Rs. 1320.75,-0.65%), were among the top losers on BSE.
On the sectoral front, oil&gas and auto stocks emerged as top gainers, rising as much as 0.72 per cent and 0.4 per cent, respectively. The market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2668, shares advanced were 1152 while 1353 shares declined and 163 were unchanged.
24/05/2017
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : BUY ZONE
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The Indian equities continued to trade higher, holding early gains, in late morning deal on Wednesday, helped by strong buying in index heavyweights such as, Tata Motors, GAIL (India), Adani Ports & Special Economic Zone and HUL, tracking firm cues from Asian peers. The NSE Nifty reclaimed 9,400 mark as investors roll over their position ahead of the May derivatives contract expiry on Thursday added to the upward move. At 12:17 hour, the 30-share barometer Sensex was at at 30450.48, up by 85.23 points or by 0.28 per cent, and the NSE Nifty was at 9410.05, up by 23.9 points or by 0.25 per cent. In the day’s trade so far, the BSE Sensex touched intra-day high of 30534.15 and intraday low of 30395.69, while the NSE Nifty touched intraday high of 9431.9 and intraday low of 9386.35. The Indian Rupee was also trading higher against the greenback amid selling of dollar by banks and exporters, while sustained fund inflows by foreign portfolio investors also boosted home currency’s movement.
Tata Motors rallied nearly 4 per cent after the auto major reported higher-than-expected consolidated net profit after tax of Rs 4,366 crore during the fourth quarter ended March 31, 2017. Among others, Videocon Industries continued losing streak for the third day, falling 10 per cent and locked in lower circuit amid surge in the volume trade. The company is set to announce its financial results for the quarter ended March 31, 2017 on Friday. The top gainers of the BSE Sensex pack were Tata Motors Ltd. (Rs. 467.45,+3.85%), GAIL (India) Ltd. (Rs. 389.90,+2.48%), Adani Ports & Special Economic Zone Ltd. (Rs. 336.40,+1.31%), Hindustan Unilever Ltd. (Rs. 1033.20,+1.28%), Housing Development Finance Corporation Ltd. (Rs. 1530.00,+1.28%), among others. On the flip side, Cipla Ltd. (Rs. 521.90,-2.11%), Dr. Reddy's Laboratories Ltd. (Rs. 2540.95,-1.44%), Maruti Suzuki India Ltd. (Rs. 6825.10,-0.80%), State Bank of India (Rs. 286.85,-0.80%), Mahindra & Mahindra Ltd. (Rs. 1320.75,-0.65%), were among the top losers on BSE.
On the sectoral front, oil&gas and auto stocks emerged as top gainers, rising as much as 0.72 per cent and 0.4 per cent, respectively. The market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2668, shares advanced were 1152 while 1353 shares declined and 163 were unchanged.
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