Four up and one down days
Weekly Market Review:
The bulls were in charge again on D-street, as both major indices accumulated gains for the fifth consecutive week.
The expiry week began on a strong footing, as Nifty and Sensex started off on a positive note. IT, Realty and Pharma stocks outperformed on Monday. The rally in IT stocks was so strong it helped India in getting its $100 billion company- Tata Consultancy Svs. after a decade. Reliance Industries had earlier achieved this milestone in 2008. Continue reading “Weekly Big Picture – Key Indices Maintain Bullish Stance In Expiry Week”
Yes Bank jumped 8.4% in today’s session following strong set of Q4 results. The Bank’s net profit rose 29% y/y beating street expectations. The stock closed 4% below its pivot price of Rs 367.25.
Major indices pocket decent gains; smallcap stocks underperform.
Daily Market Review:
Frontline indices bounced back in Thursday’s session, thanks to late buying at the bourses. Nifty rallied in the final hour of trade to close 0.5% higher, while the Sensex gained 0.6%.
Broader market indices underperformed the major composites, as the Nifty Midcap and Smallcap settled with gains of 0.4% and 0.02%, respectively.
Continue reading “Daily Big Picture – Expiry Session Ends Well For Market”
TeamLease Services followed up yesterday’s 9.6% gain with a ~10% rally today. The stock witnessed heavy buying interest as today’s volume was almost four times the 50-day average volume. With today’s gain, the stock broke out of a 17-week long consolidation base pattern. It closed 6.7% above its pivot price of Rs 2,543.70.
Benchmark indices post light losses, escape distribution day.
Daily Market Review :
Stocks reversed lower on Wednesday as frontline indices snapped a two-day winning streak. The 50-pack Nifty gave back 0.4% whereas Sensex fell 0.3%.
Major indices slipped right from the start, mirroring weakness in the U.S. stocks. The selling pressure mounted on Wall Street after 10-year treasury yield hit 3% for the first time in more than four years. Continue reading “Daily Big Picture – Bulls Take Break From Two-Day Gains”