Today’s Action
Nifty, -0.5%; Sensex, -0.5%; Model Portfolio, -1.0%; Nifty Midcap, -0.8%; Smallcap, -0.2%.
Daily Market Review
Market Status: Confirmed Uptrend
Indian benchmark indices, after gaining for the third straight session, closed negative dragged down by auto, banking, and financial services stocks. However, Nifty closed above 11,900. Nifty Midcap and Smallcap followed the suit and closed in negative territory.
The indices weighed by Kotak Mahindra Bank (-1.6%), Hdfc Bank (-0.9%), and Icici Bank (-0.8%).
On the sectoral front, Nifty Metal (+0.4%) and FMCG (+0.2%) were the only gainers. On the flip side, Nifty Realty (-2.1%) was the top loser led by Indiabulls Housing Fin (-7.9%). Among others, Nifty Auto (-1.1%), Banking (-1.0%), and Financial Services (-0.9%) were the other losers.
Of the 2,098 stocks traded on the NSE, 695 advanced, 1,047 declined, and 356 remained unchanged.
Key News
Alembic Pharmaceuticals: The Company’s board has approved raising of up to Rs 300 crore through the issue of NCD on private placement basis. The stock fell 0.1%.
Indiabulls Housing Fin: The Company moved to Supreme Court against the allegation of misappropriation of Rs 98,000 crore of public money. The stock fell 7.9% today.
Leaders Up on Volume: Aavas Financiers (+2.5%), Bata India (+0.6%), and Torrent Pharmaceuticals (+0.6%)
Leaders Down on Volume: Inox Leisure (-3.4%), Icici Lombard General Ins Co (-1.8%), and Tech Mahindra (-1.9%).
What do you think? Please email us any questions or comments.
Continue reading with a MarketSmith India Premium subscription…
To Read Detailed Reports including Stock Recommendations, Idea Lists, Evaluate Stocks etc. Subscribe to MarketSmith India.