Today’s Action
Nifty, +0.01%; Sensex, 0.0%; Model Portfolio, +0.3%; MSI Ind 47, -0.3%; Nifty Midcap, -0.6%; Smallcap, -0.2%.
Daily Market Review
Market Status: Rally Attempt
The market took a breather after a strong positive start for the week. Both the Nifty and the Sensex ended flat for the day. The Nifty Midacap (+0.1%) and Smallcap (-0.04%) also ended near yesterday’s closing levels. 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.
On sectoral front, Realty (+2.2%) continued to post strong returns whereas Nifty Bank (+0.1%) moved sideways after two consecutive days of strong gains. Nifty Pharma (+0.9%) and Metal (+0.6%) also ended in positive. Nifty IT (-0.5%) continued to underperform other sectors.
The advance-decline ratio was in favor of decliners. Of the 2,078 stocks traded on the NSE, 731 advanced, 1,013 declined, and 334 remained unchanged.
Stocks in News
Dewan Housing Finance: Today, the Company denied the claims of a media article, which earlier reported that National Housing Bank (NHB), which is the housing regulator, has done the scrutiny its exposure and has given it a clean chit about fund diversion to shell companies. The stock ended 3.1% up today.
Tata Consultancy Svs.: The Company announced today that it is working with Microsoft and R3 (Blockchain software companies) to develop a solution to increase blockchain adoption across the industries. The stock ended 0.7% lower.
Leaders Up on Volume: Astrazeneca Pharma India (+3.8%), Future Lifestyle Fsh (+4%), and Capri Global Capital (+1.1%)
Leaders Down on Volume: Akzo Nobel India (-2.4%), Avenue Supermarts (-2.3%) and Hcl Technologies (-2.1%)
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.