It was a third consecutive upbeat day for the Indian markets. After heightened volatility, Nifty closed moderately higher at crucial 8407.
Nifty reclaimed 8400 mark after it tumbled twice from above level during intraday trade.
On the contrary, Sensex surged in the first half of the session and then witnessed range bound volatility ranging 27260-27220 to finally close at 27248.
Broader markets remained under performers throughout the day where midcap closed 0.2% higher while smallcap retreated to close lower by 0.2%.
Market bias remained negative with 1172 advances and 1549 declines.
On the sector specific front, IT surged the most with 1.8% gains, driven by heavy weight Infosys gaining 3%.
On the contrary, the FMCG sector plunged 0.9% where the giants HUL, ITC, UBL and Tata Global posted 1% losses each.
Pharma too closed 0.5% down but recovered in the afternoon session from day’s low. Power stocks were charged wherein NTPC, Power Grid remained the top Nifty gainers while Telecom major Idea and Pharma major Lupin were the top losers for the Nifty.
Going forward, we hold 8460 followed by 8511 as the next major resistance while 8390-8380 followed by 8300 as the major support for Nifty. We keenly await Infosys' results in tomorrow’s session.
INFOSYS : The stock was the biggest contributor to the index gains throughout the day holding the markets steady. The stock closed up by more than 3%.
L&T : One of the top contributors to the index gains, L&T remained in green throughout the session in line with the Capital Goods Index.
NHPC :The power stock was buzzing on bourses as the company declared a dividend of Rs 1.70 per share.
COAL INDIA : The stock underperformed markets despite the reports that it might increase the thermal coal pricing.
POWER GRID : The stock was one of the top gainers in the index reaching new highs in today’s trade, rising than 4%.
Stock View:
Infosys Ltd is currently trading at Rs 1000.05, up by Rs 31.05 or 3.2% from its previous closing of Rs 969 on the BSE.
The scrip opened at Rs 972.25 and has touched a high and low of Rs 1004.4 and Rs 972.25 respectively. So far 6184488(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 222573.94 crore.
The BSE group 'A' stock of face value Rs 5 has touched a 52 week high of Rs 1278 on 03-Jun-2016 and a 52 week low of Rs 900.3 on 09-Nov-2016. Last one week high and low of the scrip stood at Rs 1009 and Rs 964 respectively.
The promoters holding in the company stood at 12.75 % while Institutions and Non-Institutions held 57.57 % and 29.19 % respectively.
The stock is currently trading above its 200 DMA.
Nifty reclaimed 8400 mark after it tumbled twice from above level during intraday trade.
On the contrary, Sensex surged in the first half of the session and then witnessed range bound volatility ranging 27260-27220 to finally close at 27248.
Broader markets remained under performers throughout the day where midcap closed 0.2% higher while smallcap retreated to close lower by 0.2%.
Market bias remained negative with 1172 advances and 1549 declines.
On the sector specific front, IT surged the most with 1.8% gains, driven by heavy weight Infosys gaining 3%.
On the contrary, the FMCG sector plunged 0.9% where the giants HUL, ITC, UBL and Tata Global posted 1% losses each.
Pharma too closed 0.5% down but recovered in the afternoon session from day’s low. Power stocks were charged wherein NTPC, Power Grid remained the top Nifty gainers while Telecom major Idea and Pharma major Lupin were the top losers for the Nifty.
Going forward, we hold 8460 followed by 8511 as the next major resistance while 8390-8380 followed by 8300 as the major support for Nifty. We keenly await Infosys' results in tomorrow’s session.
INFOSYS : The stock was the biggest contributor to the index gains throughout the day holding the markets steady. The stock closed up by more than 3%.
L&T : One of the top contributors to the index gains, L&T remained in green throughout the session in line with the Capital Goods Index.
NHPC :The power stock was buzzing on bourses as the company declared a dividend of Rs 1.70 per share.
COAL INDIA : The stock underperformed markets despite the reports that it might increase the thermal coal pricing.
POWER GRID : The stock was one of the top gainers in the index reaching new highs in today’s trade, rising than 4%.
Stock View:
Infosys Ltd is currently trading at Rs 1000.05, up by Rs 31.05 or 3.2% from its previous closing of Rs 969 on the BSE.
The scrip opened at Rs 972.25 and has touched a high and low of Rs 1004.4 and Rs 972.25 respectively. So far 6184488(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 222573.94 crore.
The BSE group 'A' stock of face value Rs 5 has touched a 52 week high of Rs 1278 on 03-Jun-2016 and a 52 week low of Rs 900.3 on 09-Nov-2016. Last one week high and low of the scrip stood at Rs 1009 and Rs 964 respectively.
The promoters holding in the company stood at 12.75 % while Institutions and Non-Institutions held 57.57 % and 29.19 % respectively.
The stock is currently trading above its 200 DMA.
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