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India Equity Research Reports, IPO and Stock News
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On Friday, the key benchmark indices edged lower, extending Thursday’s
decline, on account of rising political uncertainties and spurt in crude oil prices.
The market started on a firm note before slipping below the psychological
18,000 mark in mid-morning trade. After this, the market never recovered and
continued its decline in the afternoon trade, even ignoring positive cues from
global markets. However, the market showed some strength in mid-afternoon
trade, which was short-lived as news of the decline in gas output of index
heavyweight Reliance Industries came in, resulting in indices closing at just
above the intraday low. The Sensex and Nifty closed with losses of 1.5% and
1.3%, respectively. The mid-cap and small-cap indices closed with losses of
0.4% and 0.8%, respectively. Among the front liners, only Tata Steel and Tata
Power managed to close in green with gains of 0–1%, while Reliance
Infrastructure, Reliance Industries, M&M, HDFC and Hero Honda lost 2–4%.
Among mid caps, MVL, Kansai Nerolac, OnMobile Global, Motherson Sumi
and IndiaBPower gained 6–9%, while KGN Industries, Persistent Systems,
Gammon India, Chennai Petro and JM Financial lost 4–5%.
Markets Today
The trend deciding level for the day is 17,996/5,408 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 18,142–18,406/5,449-5,524 levels. However, if NIFTY
trades below 17,996/5,408 levels for the first half-an-hour of trade then it may
correct up to 17,732–17,586/5,332-5,291 levels.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
On Friday, the key benchmark indices edged lower, extending Thursday’s
decline, on account of rising political uncertainties and spurt in crude oil prices.
The market started on a firm note before slipping below the psychological
18,000 mark in mid-morning trade. After this, the market never recovered and
continued its decline in the afternoon trade, even ignoring positive cues from
global markets. However, the market showed some strength in mid-afternoon
trade, which was short-lived as news of the decline in gas output of index
heavyweight Reliance Industries came in, resulting in indices closing at just
above the intraday low. The Sensex and Nifty closed with losses of 1.5% and
1.3%, respectively. The mid-cap and small-cap indices closed with losses of
0.4% and 0.8%, respectively. Among the front liners, only Tata Steel and Tata
Power managed to close in green with gains of 0–1%, while Reliance
Infrastructure, Reliance Industries, M&M, HDFC and Hero Honda lost 2–4%.
Among mid caps, MVL, Kansai Nerolac, OnMobile Global, Motherson Sumi
and IndiaBPower gained 6–9%, while KGN Industries, Persistent Systems,
Gammon India, Chennai Petro and JM Financial lost 4–5%.
Markets Today
The trend deciding level for the day is 17,996/5,408 levels. If NIFTY trades
above this level during the first half-an-hour of trade then we may witness a
further rally up to 18,142–18,406/5,449-5,524 levels. However, if NIFTY
trades below 17,996/5,408 levels for the first half-an-hour of trade then it may
correct up to 17,732–17,586/5,332-5,291 levels.
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