Today’s Action
Nifty, +0.4%; Sensex, +0.6%; Model Portfolio, -0.5%; MSI Ind 47, -0.3%; Nifty Midcap, -0.6%; Smallcap, -0.2%.
Daily Market Review
Market Status: Rally Attempt
The markets continue to exhibit strength, as the Nifty advanced 5.1% in March. The Nifty Midcap (-0.6%) and Smallcap (-0.2%) underperformed the Nifty. The market status remained unchanged. We will look for a legitimate follow-through day after which we will change the market status to a Confirmed Uptrend.
Realty and the financial stocks advanced, remaining sectors declined. Nifty PSU Bank (+1.6%), Bank (+1.6%), and Pvt Bank (+1.3%) led the market. Nifty Media (-2.0%), Pharma (-1.9%), and Metal (-1.9%) were the losers. Indusind Bank (+4.3%) and Yes Bank (+3.6%) were the top gainers while Bharti Airtel (-3.9%) and Indian Oil (-3.5%) were the top losers among Nifty50 stocks.
The advance-decline ratio was in favor of decliners. Of the 1,920 stocks traded on the NSE, 656 advanced, 1,179 declined, and 85 remained unchanged.
Stocks in News
Cadila Healthcare: The Company disclosed that it received approval from the U.S. FDA to market Potassium Chloride extended-release capsules. These can be used to treat potassium deficiency in the blood. The stock was down 1.7% today.
Jubilant Foodworks: The Company has launched a new eatery brand Hong’s Kitchen, first restaurant opened in Gurugram. It also operates Domino’s Pizza and Dunkin Donuts in India. The stock was down 1.8% today.
Leaders Up on Volume: Capri Global Capital (+9.9%), Info Edge (India) (+3.2%), and Bajaj Finance (+2.7%)
Leaders Down on Volume: Aavas Financiers (-3.3%), Vinati Organics (-2.7%) and Heidelbergcement India (-2.6%)
What do you think? Please email us any questions or comments.
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