Heritage Foods paid no heed to today’s market decline. Despite market sentiment turning bearish after North Korea’s missile launch, the stock went on to hit a new high in today’s session.
Daily Big Picture – Nifty Tanks as North Korea Ups the Ante
Today’s Action:
Benchmark indices sold off in today’s session on account of escalating tensions in the Korean peninsula. Broader markets followed suit.
Daily Market Review
The Indian market had a weak opening, taking cues from the Asian markets after North Korea fired a missile early in the day, which flew over Japan and landed in Pacific waters about 1,180 kilometers off the northern region of Hokkaido. On account of the increased uncertainty in the Korean peninsula, U.S. stock futures, European and Asian share markets tumbled, as investors turned their focus to safe-haven assets such as gold. The Indian market too had no respite, as the Nifty and the Sensex lost further ground as the day progressed.
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New High On High Volume – Bajaj Finance Adds Another Feather To Its Cap
Bajaj Finance scaled a new high today. The stock is set to become a part of the country’s premier index, Nifty 50 from next month. Bajaj Finance also crossed the market cap of INR 1 lakh crore for the first time in today’s session.
Chart Of The Day – L&T Finance Goes Strength From Strength
L&T Finance Holdings made its way to an all-time high in today’s session. The stock rose 7.5% on almost three times the 50-day average volume. One of the key beneficiaries of the NBFC rally, L&T Finance has advanced 115% since the beginning of 2017.
Daily Big Picture – Market Brings Home Decent Gains
Today’s Action:
Benchmark indices opened higher in today’s session and held onto their gains. Broader markets outperformed the headline indices.
Daily Market Review
The Indian market had a constructive session in today’s trade. The key indices opened in green and held onto their gains through the day. The optimism witnessed in today’s trading session can be attributed to the uptick in the Infosys stock, as the scrip opened higher by 3% on account of Nandan Nilekani’s return to the Company and a buy recommendation from CLSA.
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