10:20 am Market Expert: There is a risk-off approach to the global market and this week will reflect just that, says Vineet
Bhatnagar of PhillipCapital. Speaking to CNBC-TV18, Bhatnagar says the Nifty, however, should find good support at 7500-7530. On sectoral bets, Bhatnagar says the Bank Nifty should trade steady at 15500-15800, adding that despite current weakness in some private names, banking sector would be relatively performing well from a one-year horizon. Bhatnagar further adds that 2016 is still expected to be the year for equities among most institutional investors. Also read - How worried should you be about US junk bond, oil selloff 10:00 am Market Check The market recouped early losses with the Nifty getting back above 7600 level, driven by banks, capital goods and pharma stocks. The broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices rising 0.5 percent and 0.2 percent, respectively. The 30-share BSE Sensex fell 25.73 points to 25018.70 and the 50-share NSE Nifty rose 1 point to 7611.45. The market breadth was positive as about 1030 shares advanced against 875 declining shares on the BSE. Shares of Infosys, ICICI Bank, HDFC Bank, Sun Pharma, HUL, Maruti, Lupin and GAIL gained 0.5-1 percent while Tata Motors, TCS, M&M, Bharti Airtel and ONGC fell 1-3 percent.
No comments:
Post a Comment