Cement stocks post concrete gains Ø CSEC Research

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Cement stocks post concrete gains

Ø    The S&P CNX Nifty opened in green, traded around 5,390 mark in the morning session. Profit booking was witnessed during mid afternoon session while Nifty managed to close in green at 5361.

Ø    Cement stocks posted concrete gains. Indian cement rallied on the back of strong Q3 numbers. Cement Majors ACC and Ambuja Cement witnessed buying interest as these stocks posted 5 percent gains.

Ø     Result impact was witnessed in Hindustan Unilever. The stocks dipped 3 percent during the fag end of trade despite Q3 beating street estimates.

Ø    Dhanlakshmi Bank declined on the back of the media reports that the companies MD Amitabh Chaturvedi is likely to resign. Meanwhile the company intimated after market hours that the organization has decided to witness change of guard at the tope level.

Outlook

Ø       U.S. Indices retreated from multi-year highs as Greece struggled for an agreement on spending cuts needed to ensure another round of rescue funds.

Ø      In today’s trade baring Nikkei and Shanghai, all other Asian indices are trading in a green. SGX Nifty is trading 1/3^rd of the percent higher, indicating a positive opening

 

Regards,

CSEC Research