Tuesday, 14 June 2016

Sensex, Nifty choppy after 3-day fall; ICICI, Tata Motors gain

Tata Motors, ICICI Bank, SBI and Adani Ports were top gainers, up 1-3 percent while HDFC, HDFC Bank, Infosys, TCS, HUL and Hero Motocorp fell 0.5-1.5 percent.

10:20 am Market Outlook: Gautam Shah of JM Financial says for the short term, the level of 8,130-8,140 is important and in an optimistic scenario the pullback could end here.

However, keeping in mind that US VIX jumped substantially late last week and since the market has important events to look forward to, a deeper pullback down close to 8,000 is also possible in the current scheme of things, he adds. NSE TIPS

Post this pullback, the index should be on course to take out 8,300 and move towards 8,650, Shah feels.

Also read - How you can make money with richly valued stocks: Fund manager 

10:00 am Market Check 

Equity benchmarks consolidate after correction in previous three days but the broader markets outperformed with the BSE Midcap and Smallcap indices rising 0.3-0.7 percent.

The Sensex fell 4.01 points to 26392.76 and the Nifty declined 4.20 points to 8106.40. The market breadth was positive as about 1235 shares advanced against 573 declining shares on Bombay Stock Exchange.

Tata Motors, ICICI Bank, SBI and Adani Ports were top gainers, up 1-3 percent while HDFC, HDFC Bank, Infosys, TCS, HUL and Hero Motocorp fell 0.5-1.5 percent.
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1 comment:

Peehu Sharma said...

All Asian shares extended losses, except, the Taiwan Weighted index up 0.3 percent at 8,557.
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