The lacklustre start to a calendar year 2017 continued for a third day in a row where Nifty and Sensex closed on a flattish note.
Nifty seems to have taken a prolonged breather at 8190-8200 after rallying from its major support at 7900 levels.
Sensex too hovered around 26600-26700 levels during the day. Markets were driven majorly by the Auto sales data that came in mixed and India’s services activity that remained unchanged at 47.6 in December from previous year and contracted from November’s 49.1 on the back of cash crunch in the economy.
The Midcap index witnessed a turnaround and underperformed while Small cap maintained outperformance with 0.4% gains.
Overall Advance to decline ratio for NSE came in at 3:2 . On the sectoral front Realty and IT outperformed with 2.2% and 1.3% gains.
Banks and Financial services dragged the markets down with nearly 0.8% losses on an average.
Telecom brothers Infratel and Bharti Airtel were the top gainers while Reliance and Kotak Bank were the top losers.
Going forward we hold 8240 followed by 8300 as our next resistances for the Nifty provided 8215 is broken on closing basis. On the contrary if markets retreat from the said levels we 8020 followed by 7900 as the medium term supports for the Nifty.
SSWL has announced that for Q4FY16-17 they have set a target for achieving volume sales of 35.6 lakh, as compared to 33.24 lakh in Q3FY16-17, representing a growth of 7% Q-o-Q. The closed up by 2%.
GODERJ PROPERTIES ended flat at Rs 322. Godrej Properties has informed the bourses that Godrej Greens, the project which it immediately launched after demonetisation has received an overwhelming response.
JUBLIENT LIFE SCIENCES zoomed 12% after the company has duly signed a long-term contract in Radiopharma business with Montreal Canada for distribution of products used for diagnostic and therapeutic procedures for thyroid, myocardial perfusion, lung, kidney and bone scans.
RAMCO SYSTEMS soared 9% on the BSE. Panasonic Group of companies in Malaysia has signed a multi-million-dollar strategic deal with Ramco Systems Sdn. Bhd. Malaysia part of India-headquartered HR software major Ramco Systems to digitize and transform HR and Payroll operations for nearly 20,000 employees nationwide on a unified platform.
NANDAN DENIM jumped 10.5% after the Reserve Bank of India notified that foreign portfolio investors can now invest up to 49 per cent in Nandan Denim against 24% earlier.
INDIABULLS HOUSING FINANCE fell 3%. The company reduced its home loan rates by 45 basis points, bringing it down to lowest in six years.
Sensex too hovered around 26600-26700 levels during the day. Markets were driven majorly by the Auto sales data that came in mixed and India’s services activity that remained unchanged at 47.6 in December from previous year and contracted from November’s 49.1 on the back of cash crunch in the economy.
The Midcap index witnessed a turnaround and underperformed while Small cap maintained outperformance with 0.4% gains.
Overall Advance to decline ratio for NSE came in at 3:2 . On the sectoral front Realty and IT outperformed with 2.2% and 1.3% gains.
Banks and Financial services dragged the markets down with nearly 0.8% losses on an average.
Telecom brothers Infratel and Bharti Airtel were the top gainers while Reliance and Kotak Bank were the top losers.
Going forward we hold 8240 followed by 8300 as our next resistances for the Nifty provided 8215 is broken on closing basis. On the contrary if markets retreat from the said levels we 8020 followed by 7900 as the medium term supports for the Nifty.
SSWL has announced that for Q4FY16-17 they have set a target for achieving volume sales of 35.6 lakh, as compared to 33.24 lakh in Q3FY16-17, representing a growth of 7% Q-o-Q. The closed up by 2%.
GODERJ PROPERTIES ended flat at Rs 322. Godrej Properties has informed the bourses that Godrej Greens, the project which it immediately launched after demonetisation has received an overwhelming response.
JUBLIENT LIFE SCIENCES zoomed 12% after the company has duly signed a long-term contract in Radiopharma business with Montreal Canada for distribution of products used for diagnostic and therapeutic procedures for thyroid, myocardial perfusion, lung, kidney and bone scans.
RAMCO SYSTEMS soared 9% on the BSE. Panasonic Group of companies in Malaysia has signed a multi-million-dollar strategic deal with Ramco Systems Sdn. Bhd. Malaysia part of India-headquartered HR software major Ramco Systems to digitize and transform HR and Payroll operations for nearly 20,000 employees nationwide on a unified platform.
NANDAN DENIM jumped 10.5% after the Reserve Bank of India notified that foreign portfolio investors can now invest up to 49 per cent in Nandan Denim against 24% earlier.
INDIABULLS HOUSING FINANCE fell 3%. The company reduced its home loan rates by 45 basis points, bringing it down to lowest in six years.
