Friday, 15 July 2016

Nifty inches towards 8600 amid consolidation; ITC, HUL shares up

Adani Ports topped buying list on Sensex, up nearly 3 percent followed by ITC, Infosys, HUL, M&M and Bharti Airtel while HDFC, TCS, HDFC Bank, L&T and ICICI Bank were losers. NTPC lost nearly 3 percent. 

10:15 am FII View: JP Morgan has an overweight stance on India with expectations of double digit returns as the index moves towards 9,000 level. Strong earnings are expected in 2017, he says.

"I would rather own domestically focused business than owing software services company," Mowat says adding that IT firms will get move affected by global events like Brexit.

On the Goods and Services Tax (GST), expected to see light in upcoming Monsoon session, Mowat says that expectations are already low. If the GST doesn’t go through, negative impact will be low.

Also read - Citi sees Sensex at 28,800; lists 5 largecaps, midcaps to buy 

10:00 am Market Check  FREE TRAILS TIPS

The market continued to consolidate for the third consecutive session, though the Sensex reclaimed 28000 level. The broader markets outperformed benchmarks with the BSE Midcap index rising half a percent.

The 30-share BSE Sensex was up 22.09 points at 27964.20 and the 50-share NSE Nifty advanced 8.70 points to 8573.70.

Adani Ports topped buying list on Sensex, up nearly 3 percent followed by ITC, Infosys, HUL, M&M and Bharti Airtel while HDFC, TCS, HDFC Bank, L&T and ICICI Bank were losers. NTPC lost nearly 3 percent.

Asia markets traded higher, following another record close in US stocks, and as investors digested a data deluge from China. Japan's Nikkei gained 1 percent and Hong Kong's Hang Seng was up 0.6 percent.
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3 comments:

Neha Agrawal said...

ITC, Infosys are performing well in the stock market. On the other hand, performance of HDFC bank, TCS are fluctuating in the stock market as mentioned above. follow Epic Research for share market updates.

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