Britannia Industries continued to scale new highs amid strong buying interest in the scrip. Despite a weak market sentiment, the stock pocketed decent gains in each of the five sessions to end with a weekly gain of 4.3%. It has gained 25% after breaking out of a 10-week long flat base pattern in late February.
Edelweiss Financial Services rallied 7.2% on the back of heavy-volume buying. The stock had come under selling pressure recently and breached its 200-DMA in yesterday’s session. It managed to retake its 200-day line today.
Market Pulse:
Highlights:
Two up and three down days
Weekly Market Review:
India’s benchmark indices snapped their five-week winning streak amid high volatility.
Rising trade war tensions, higher crude oil prices, and depreciation of Indian rupee were the major concerns that made investors cautious.
The expiry week began on a muted note in the midst of rising trade tensions between the U.S. and China. In the end, the Nifty and the Sensex logged a loss of 0.6% each in Monday’ssession. Continue reading “Weekly Big Picture – Friday’s Rally Propels Key Indices Above 50-DMA”
IFB Industries found support near its previous low of Rs 1,072. The stock rallied 10.8% on above-average volume, paying no heed to weakness in general market.
Today’s Action:
Sensex breaches 50-DMA; Nifty Midcap and Smallcap slump to 2018 lows.
Daily Market Review:
Frontline indices closed sharply lower as rupee depreciation and higher crude oil prices weighed on the Indian market.
The expiry session began on a negative note due to weak global cues as major indices remained sluggish through the day.
Amid rising trade war concerns and crude oil prices, the Indian rupee fell to an all-time low of 69 per dollar. Continue reading “Daily Big Picture – Market Mayhem Continues As Rupee Hits All-Time Low”
