Punjab National Bank fell for the second consecutive day, after the Rs 11k crore fraud came to light. The stock plunged 12.1% and hit a fresh 52-week low on account of high-volume selling today. The gains accumulated in recent months have been wiped out as the stock is now back to the levels of the pre-recapitalisation era.
Today’s Action:
Frontline indices end a topsy-turvy trading session with modest gains; Broader indices face the wrath of market bears.
Daily Market Review:
India’s key indices made a decent comeback in today’s session after experiencing a distribution day yesterday. The day ended with both the Sensex and Nifty recouping yesterday’s losses. Continue reading “Daily Big Picture – Nifty Holds Above 10,500 Amid Low Inflation Data”
Investors thronged the counter of TTK Healthcare, as the stock got locked in upper circuit with a gain of 20%. The Company had posted a superb set of numbers in Q3 FY 2018 recently, delivering a revenue growth of 19%, while net profit jumped by a whopping 243%. On the back of strong results, the stock had broken out of a consolidation base pattern on February 2, 2018. It has advanced 17% from its pivot price of Rs 945.
Today’s Action:
Key indices throw away early gains in the final hour; Nifty Smallcap drops further while Midcap index closes flat.
Daily Market Review:
India’s key indices failed to hold onto their gains, as selling pressure in the final hour of the session resulted in a negative closing. Continue reading “Daily Big Picture – Late Selling Plays Spoilsport”
3M India began the week on a strong note, as the stock witnessed massive accumulation in today’s session. The stock scaled a fresh high, as it zoomed almost 15% on huge volumes. The Company had recently posted solid quarterly results, delivering an EPS growth of 116%.
