Markets ended at 52-week closing high led by banks after a meeting of G20 finance ministers came to a consensus to support global growth amid growing uncertainty post the Britain’s exit from the European Union. State-owned oil firms gained on the back of government’s plans to merge all into a single behemoth. The Sensex settled 292 points higher to close at 28,095 and the Nifty50 ended up 94 points at 8,636. In the broader market, the BSE Midcap and Smallcap indices ended up 1% each. Market breadth ended positive with 1728 gainers and 987 losers on the BSE. investors will closely follow important cues this week like July F&O expiry, GST bill in the ongoing monsoon session of parliament and the US Fed meet. Financials were led by mortgage lender HDFC which rose 1.9% followed by ICICI Bank.
BUY METALFORGE ABOVE 85 TARGET 86, 87, 88 STOP LOSS 84.
BUY SATHAISPAT ABOVE 99 TARGET 100, 101, 102 STOP LOSSS 97.
Markets slipped in late trades, amid weak European cues, as investors booked profits after recent gains while the uncertainty over the passage of the GST Bill continued to weigh on investor sentiment. The Sensex ended down 31 points at 27,885 and the Nifty settled points lower at 8,567. In the broader market, BSE Midcap and Smallcap indices ended down over 0.1% each. Market breadth was negative with 1584 losers and 1100 gainers on the BSE. Foreign institutional investors were net buyers of equities worth Rs 215 crore on Wednesday, as per provisional stock exchange data. Wipro ended up 0.7% after the company won a contract from Greater Toronto Airports Authority for Futuristic IT and Business Transformation.
BUY TATAMETALI ABOVE 505 TARGET 510, 515, 520 STOP LOSS 500.
BUY ANANTRAJ ABOVE 65 TARGET 66, 67, 68 STOP LOSS 64.
BUY CHENNPETRO ABOVE 270 TARGET 272.70, 275.40, 278.10 STOP LOSS 264.60
SELL GOKEX BELOW 103 TARGET 102, 101, 100 STOP LOSS 105.
Markets continued to remain in a narrow range in late noon trades as gains in select index heavyweights helped offset losses in IT majors. The Sensex was up 97 points at 27,884 and the Nifty 50 was up 28 points at 8,557. The broader markets outperformed the benchmark indices with BSE Midcap and Smallcap indices up 0.8% each. Dr. Reddy’s Labs was up over 2% after the company recently announced the launch of Omeprazole and Sodium bicarbonate capsules in the U.S. Market. Aurobindo Pharma was up over 3% after the company received approval from the US drug regulator to manufacture and market Rosuvastatin Calcium tablets.
BUY ANANTRAJ ABOVE 56.50 TARGET 57,57.50,58 STOP LOSS 56
BUY JBMA ABOVE 158 TARGET 159.50, 161, 162.50 STOP LOSS 155.
BUY TINPLATE 100 TARGET 101, 102, 103 STOP LOSS 98.
SELL CENTRALBK BELOW 97 TARGET 96.10, 95.20, 94.30 STOP LOSS 98.80.
Market indices staged a recovery in late trades to snap two-day losing streak aided by rebound in IT majors and select index heavyweights. The Sensex ended up 41 points at 27,788 and the Nifty50 ended up 20 points at 8,529. In the broader markets, BSE Midcap ended up 0.3% while the Smallcap index ended. Market breadth ended positively with 1217 gainers and 976 losers on the BSE. IT majors TCS and Infosys which faced selling pressure in the previous sessions post their first quarter earnings recovered on renewed buying interest at lower levels. TCS ended up 1.2% while Infosys edged 0.6% higher.