Month: July 2017

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Daily Big Picture – Benchmark Indices Drift Lower Amid Consolidation

 

DailyBigPicture-MarketSmithIndia-WilliamOneilIndiaToday’s Action:

The key indices opened higher today. However, the headline indices slipped as the day progressed, and closed in the red. Broader indices showed a divergent trend, with the Nifty Midcap index falling, while the Smallcap index made gains.

Daily Market Review

The benchmark equity indices, after opening higher, fell in today’s session, after facing resistance near its all-time highs. Going ahead, good results with regards to the ongoing Q1 FY 2018 earnings season will be key for the Nifty to push towards the 10,000 mark. Continue reading “Daily Big Picture – Benchmark Indices Drift Lower Amid Consolidation”

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Daily Big Picture – Benchmark Indices Recover Most of Yesterday’s Losses; Nifty Closes in on 9,900

MarketSmith India_William Oneil IndiaToday’s Action:

The key indices opened higher today, and gained strength as the day progressed. Broader indices accompanied the headline indices on the way up.

Daily Market Review

The benchmark equity indices rallied in today’s session, and recovered a major portion of yesterday’s losses. The indices traded in the positive territory throughout the day, helped by positive global cues and stable June quarter earnings season so far. Going ahead, good results with regards to the ongoing Q1 FY 2018 earnings season will be key for the Nifty to push towards the 10,000 mark. Continue reading “Daily Big Picture – Benchmark Indices Recover Most of Yesterday’s Losses; Nifty Closes in on 9,900”

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Daily Big Picture – Benchmark Indices Turn South, as Cess on Cigarettes Takes Puff out of ITC

DailyBigPicture-MarketSmithIndia-WilliamOneilIndiaToday’s Action:

The key indices headed lower in today’s session, led by a plunge in the ITC stock and profit-booking. Broader indices accompanied the headline indices on the way down.

Daily Market Review

The benchmark equity indices witnessed a pullback in today’s session led by a plunge in the ITC stock and profit-booking. Throughout the day, the market traded in the red, as market heavyweight ITC, which opened 10% lower, dragged the headline indices. The Q1 FY 2018 earnings season has already started, and good results will be key for the Nifty to push towards the 10,000 mark. Continue reading “Daily Big Picture – Benchmark Indices Turn South, as Cess on Cigarettes Takes Puff out of ITC”