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Stock Market Update | Jai Bala on markets
“The market might be looking like it is consolidating and holding support between 16,800 and 17,200 but under the hood the markets are deteriorating pretty solidly. There are nearly 400 stocks near their 52-week highs or 52-week lows and of them only 11 are near their 52-week highs, rest of them are near their 52-week lows. So that is a breadth deterioration. Also the leaders of this markets were FMCG, autos and IT. However autos have now clocked a double top and are breaking down. Only the FMCG sector has still not broken down, almost every other sectoral index has broken down. So the quality and the breadth of this market is getting poorer,” says Jai Bala, Cashthechaos.com.
Rupee Close | Rupee ends lower at 82.19 vs US dolla
Market at Close | Sensex, Nifty 50 end near flatline
Market remains in a range ahead of expiry, Nifty holds 16,900
BSE companies erase market cap of Rs 1.5 lakh crore today and nearly Rs 2.6 lakh crore in two sessions
Adani group stocks close with cuts, down 3-7 percent, market cap falls by Rs 50,000 crore
Financials lend support while Adani and auto stocks drag Nifty
Sensex falls 40 points to 57,614 and Nifty 34 points to 16,952
Nifty Bank rises 137 points to 39,568 while Midcap index slips 102 points to 29,325
UPL is top Nifty gainer as promoter holding rises to highest level in 23 years, stock up two percent
Hero MotoCorp falls three percent as Kotak Securities cuts target, maintains reduce call
Bharti and VI slip two percent each as Reliance Jio launches cheaper broadband plan
Bandhan Bank continues to move lower, slips five percent to hit 52-week low
IEX extends Monday’s fall on reports of lower demand in March, slips five percent
Diagnostic names fail to hold Monday’s gains, Metropolis falls over two percent
Manapuram, Torrent Power, Oil India, Escorts, MGL amongst top Midcap gainers
Granules, ACC, IRCTC, Birlasoft, Delta Corp are top Midcap losers
Market breadth favours advances, advance-decline ratio at 1:3
Market Update | Nifty Bank over 250 points off lows
Nifty Bank i trading 0.4 percent higher at 39,600.95, 274.85 points of day's low. IndusInd, HDFC Bank and ICICI up, 0.7 to 2.5 percent are the top index gainers. Bandhan Bank, PNB and AU Bank are the top losers, down 0.5 to 5.5 percent.
Stock Market Update | CE Info Systems Large Trade
8.34 lakh shares or 1.6 percent equity of the company worth Rs 83.45 crore change hands at an average of Rs 1,000 per share.
Stock Market News | Reliance, Tata Power and JSW Energy among 11 companies to get solar cell manufacturing approval
The Central government revealed that the second tranche is expected to bring in an investment of Rs 93,041 crore, and will also generate a total of 1,01,487 jobs. Of the 1,01,487 jobs, 35,010 will get direct employment and 66,477 will be indirectly employed. (Read more)
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Share Markeet Update | Kotak Securities' Shrikant Chouhan's view on financials
"Federal Bank is currently trading at Rs 124-125. Downside is limited. If we see further more decline then we should be buyer. We are expecting stock to trade within the range of Rs 120 and Rs 140. So it is a great risk reward ratio for positional investors to invest at current levels.
We also like ICICI Prudential, which is currently at Rs 420 but fallen to its extreme levels. Currently it is trading above the 20-days simple moving average. So from here, technically we can see the levels of at least Rs 450-460 but if we see the overall retracement, then the stock may even cross the levels of Rs 500," says Shrikant Chouhan, Kotak Securities.
Nifty 50 Live Update | Jai Bala's Take On The Market
- Nifty 50 support - 16,747, 16,400 and 16,200
- Nifty 50 resistance - 17,300 - 17,400
- SBI likely to trigger further weakness for banking sector
- Nifty Bank support - 38,100 and 37,300
- Nifty Bank Resistance - 41,000
- Nifty IT key support of 27,900
- Nifty Auto has activated a double top breakdown
Stock Market Update | Latent View Drops for Fifth Day
- Trading 0.2 percent lower at Rs 317.95
- Down for the fifth day in a row
- Has declined 10.7 percent over the last five trading sessions
- Trading near 52-week low of Rs 305
- Made an intraday low of Rs 310 in today's session
Nifty 50 Update | Index trading flat below 17,000
Adani twins, Tech Mahindra and Hero MotoCo are the top losers, while, IndusInd, UPL and Dr Reddy are the top gainers. 32 stocks in the 50-share index are trading with losses.
Adani Group Update | All Group stocks lower
All Adani group stocks are down in the range of 2-7 percent. The group erases market capitalisation of nearly Rs 50,000 crore today and Rs 80,000 crore in 2 sessions.
Share Market Update | Royal Orchid Hotels shares rise after Nuvama sees potential upside of 92%
Rating agency ICRA last week assigned a stable outlook with A- rating to the bank facilities of Royal Orchid Hotels on the back of the company’s strong operating and financial performance during the December quarter. (Read more)
Global Market Cue | European stock markets opened higher Tuesday
Pan-European Stoxx 600 index was up 0.5 percent. DAX, FTSE and CAC were up 0.6, 0.6 and 0.7 percent respectively.