Wednesday, 15 June 2016

Sensex, Nifty, Midcap hold early gains; L&T leads, ICICI weak

The market breadth was also positive as about three shares advanced for every share falling on BSE. L&T, State Bank of India, Bharti Airtel, Hero Motocorp and NTPC gained 1-2.5 percent. 

Equity benchmarks as well as broader markets remained positive on Asian cues and short covering after 4-day fall. Infra, telecom, auto, FMCG and select banking & financials gained while ICICI Bank, HDFC, TCS and Dr Reddy's Labs fell.

The Sensex rose 101.75 points to 26497.46 and the Nifty climbed 28.75 points to 8137.60. The market breadth was also positive as about three shares advanced for every share falling on BSE.

L&T, State Bank of India, Bharti Airtel, Hero Motocorp and NTPC gained 1-2.5 percent.

Mahesh Patil, Co-Chief Investment Officer of Birla Sun Life Asset Management Company, says any volatility in market would make for a good opportunity to buy stocks.

"We may see some volatility, especially in currency markets due to Brexit. But [over the medium term] Indian market is mainly driven by domestic cues. The earnings story is starting to kick in," he adds.
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2 comments:

Peehu Sharma said...

Shares of Godrej Industries and Godrej Properties jumped up to 5 per cent in Wednesday's trade after the former said its subsidiary Godrej Agrovet has received board approval to monetise its 100 acres land in Bengaluru through a joint development project with the group company.

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Trade Bizz said...

The 30-share index was trading at 26544, down 182 points or 0.68 per cent. It touched a high of 26,686.03 and a low of 26,542.04 in morning trade.The Nifty50 was trading at 8148.90 down 57 points or 0.70 per cent. It touched a high of 8,180.65 and a low of 8,145.70 in the first 30 minutes of trade.M&M (up 0.6 per cent), Lupin (up 0.5 per cent), NTPC (up 0.16 per cent) and Dr Reddy's Laboratories (up 0.11 per cent) were the major Sensex gainers. ICICI Bank (down 2.6 per cent), Maruti Suzuki (down 1.2 per cent), Adani Ports (down 1.13 per cent), and ITC (down 0.92 per cent) were major Sensex loser.

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