Today’s Action:
Key Indices continue to build up gains to reach new highs.
Daily Market Review:
Benchmark indices started marginally low today, but ended the day with modest gains. A volatile trading session was observed as investors remained watchful due to derivatives expiry. Continue reading “Daily Big Picture – Benchmark Indices makes Record Highs; Nifty closes above 10,300”
The Indian Government’s decision to recapitalise PSU banks with an additional 2.11 lakh crore sent the Nifty PSU Index soaring by a whopping 29.6%. Punjab National Bank saw the biggest move, as the stock defied gravity and rose 46.2%.
Today’s Action:
The benchmark indices made all-time highs as investors resorted to accumulate PSU banks after the government announced its plan to infuse INR 2.11 lakh crore in the PSU banks to address their problem of weak capitalization.
Daily Market Review:
The news about bank recapitalization by the government led the PSU banks to rally. The key indices touched a fresh high today, predominantly due to gains posted by the Nifty PSU Banks. Continue reading “Daily Big Picture – PSU Banks Lead the Markets to Fresh Highs”
Gufic Biosciences saw huge buying interest in today’s session, as the stock jumped 15.6% and scaled an all-time high of INR 99.60. The stock had recently broken out of a first stage consolidation base pattern and has advanced 18% from its previous pivot price of INR 81.50.
Today’s Action:
The key indices build on wins from the previous session. The broader indices outpace key composites as the Nifty Smallcap index extends high.
Daily Market Review:
The benchmark indices extended gains in today’s trading session, boosted by a positive momentum in the banking, financials, and metal stocks. After starting the day in green, the benchmark indices witnessed volatility in view of the ongoing earnings season. Investors were a bit cautious ahead of earnings updates from the index heavyweights, HDFC Bank and Infosys. HDFC Bank’s Q2 performance came in line with street expectations, while Infosys is set to release an update after the market hours. Continue reading “Daily Big Picture – Nifty Holds Ground Amidst Earnings Volatility”
