PNB Housing Finance continued its descend and slipped to a 52-week low in today’s session. The stock has corrected 38% from its all-time high.
Weekly Big Picture – Friday’s Comeback Rally Pushes Nifty in Green
Market Pulse:
Highlights:
Two up and three down days (two distribution days)
Weekly Market Review:
Major indices remained range-bound for most part of the week before a late-session rally on Friday aided a positive closing.
Global factors weighed on the Indian market throughout the week. Trade war fears came back to haunt investors as the frontline indices slipped lower in three out of five sessions during the week. Continue reading “Weekly Big Picture – Friday’s Comeback Rally Pushes Nifty in Green”
Chart Of The Day – Future Supply Jumps 5.6%; Hits New High
Future Supply Chain Solutions scaled a new high of Rs 760, before closing 5.6% higher in today’s session. The stock broke out of a 23-week-long consolidation base pattern, but closed 5% below its pivot price of Rs 749.
Daily Big Picture – India Raises Duties on US Goods; Nifty Drops 0.3%
Today’s Action:
Major indices succumb to distribution; broader market underperforms.
Daily Market Review:
One word that is good enough to describe today’s market action would be sloppy.
Despite opening in positive territory, India’s leading indices turned sluggish as both the Nifty and the Sensex slipped 0.3%.
Volume rose on both indices, thereby resulting in a distribution day.
The broader market indices underperformed once again as the Nifty Midcap and Smallcap dropped 0.6% and 1.1%, respectively. Continue reading “Daily Big Picture – India Raises Duties on US Goods; Nifty Drops 0.3%”
Chart Of The Day – Wheels India Zooms to a New High
Wheels India’s stock saw massive buying interest after the Company announced a board meeting on June 22 to consider issue of bonus shares. The stock broke to new high ground, as it rallied 9.6% on heavy volume.
