HEG snapped a four-session losing streak as the stock rallied 8.6% on heavy volume in today’s session. The Company had reported superb set of numbers in Q1 FY 2019, delivering a revenue growth of 673%. Its EPS jumped to 192.77, compared to -2.11 in Q1 FY 2018.
Major composites are at all-time highs; broader indices close on a divergent note. Nifty, +0.5%; Sensex, +0.6%; Model portfolio, +0.8%; and MSI Ind 47, +1.0%.
Daily Market Review:
Amid strong global cues, India’s frontline composites resumed their record breaking run led by Reliance Inudstries and banking stocks.
For the fourth consecutive trading session, the Nifty closed at record high and ended above the 11,400-mark. The Sensex closed 0.3% below the 38,000 level. Continue reading “Daily Big Picture – Sensex Scales New High, Nifty Ends Above 11,400”
Both daily and weekly stock charts should be studied. Weekly charts are particularly helpful in providing a longer term perspective. Weekly charts can also offer insights regarding the quality of a base. They can tell you, for example, if there was accumulation or distribution in the base formation. Daily charts provide a closer focus than weekly charts, and should be used to determine the appropriate pivot point.
Intellect Design Arena surged 14.6% on heavy volume in today’s session. Buying interest was driven by the Company signing a large multi-million dollar deal with a leading bank in Asia. As a result, the stock broke out from its eight-week-long consolidation base pattern. It closed 3% above its pivot price of Rs 227.
Key indices trade range bound; broader indices snap twelve-day winning streak. Nifty, +0.02%; Sensex, -0.07%; Model portfolio, +0.2%; and MSI Ind 47, +0.3%.
Daily Market Review:
Investor sentiment oscillated between distress and relief, as key indices turned highly volatile in today’s session.
Both benchmark indices opened at record highs, but profit-booking played spoilsport. As a result, the Nifty gained 0.02% and the Sensex dropped 0.07%. Continue reading “Daily Big Picture – Key Indices Pare Gains To End Flat”