Daily Big Picture : Nifty Falls on Lower Volume; IT Stocks Gain

Today’s Action

Nifty, -1.4%; Sensex, -1.3%; Model Portfolio, -1.6%; MSI Ind 47, -1.6%; Nifty Midcap, -1.8%; Smallcap, -1.8%.

Daily Market Review

Market Status: Confirmed Uptrend 

Both the Nifty and the Sensex saw a steep fall today, the highest in 2019. However, the volume of shares traded is lesser than yesterday, and therefore escape a distribution day.

Barring Nifty IT (+0.4%), all the sectors showed weakness. Nifty Realty (-2.5%), PSU Bank (-2.5%), and PVT Bank (-2.1%) declined the most.

The advance-decline ratio was in favor of decliners. Of the 2,110 stocks traded on the NSE, 445 advanced, 1,335 declined, and 330 remained unchanged.

Key News

Alembic Pharmaceuticals: The Company announced on Monday that it received approval from the USFDA for Teriflunomide tablets in the strengths of 7mg and 14 mg. The stock was up 4.2% today.

Maruti Suzuki India: The Company has launched a new version of Baleno with BS VI emission norms complaint petrol engine and includes smart hybrid technology. The stock was down 1.7% today.

Leaders Up on Volume: Dcb Bank (+2.5%) and Future Lifestyle Fsh (+0.1%)

Leaders Down on Volume: Capri Global Capital (-5.8%), Bharat Financial Inclusion Ltd (-4.6%) and Reliance Industries (-2.9%)

What do you think? Please email us any questions or comments.

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