Buying counters are buzzing on D-Street as the Sensex and Nifty have extended their gains. The 30-share index is trading up over 150 points, while the Nifty is up almost half a percent. It is continuing to hold 10,800-mark. Sectors such as banks, IT and energy names have picked up pace, while midcaps too have extended their gains. Among the index gainers are Dr Reddy’s Labs, Sun Pharma, and Lupin, while Tata Steel, Power Grid, and Grasim were the top losers.
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Today’s Market Update Today’s market was in our line of our suggestion INDEX open gap down and trading most of the day in bearish trend and stock specific movement has been seen in Friday trading session. Last hour buying momentum shows positive intent for bulls in the market and this will reflect in next week trading session. » Read more
Market has been in bulish trend post RBI credit policy where RBI increases Repo Rate and Reverse Repo Rate by 0.25 bps.
On Thursday Nifty future tested its crucial trend line resistance and also showed 50 points correction (as you can see in chart) after that which is not a good sign for bulls, as other indicators also shows negative movement we would like to advise you to trade with extra care as we may see some down fall till Nifty future breaks 10825 level. Crucial support for Nifty future is 10695-10620. Stock specific movement is expected on Friday market which will help you to make profit irrespective of Index movement. » Read more
A three-day losing streak broken and how! Equity benchmarks had a good day of trade, with the Sensex closing 275 points higher, while the Nifty closed near 10,700-mark.The market witnessed a last hour surge after Reserve Bank of India’s Monetary Policy Committee decided to hike repo rate to 6.25 percent. While the Street began the day on a flat note, a surge in the first couple of hours hinted that investors were possibly pricing in a rate hike from the police The Reserve Bank of India’s Monetary Policy Committee (MPC) has, for the first time in four years, hiked key repo rate by 25 basis points (bps) to 6.25 percent.
INTRADAY TRADING TIPS TOMORROW: 7th JUNE(THURSDAY)
BUY SRF FUT ABOVE 1910 TARGET 1930-1950 WITH SL 1890
BUY SDBL ABOVE 249 TARGET 252-257 WITH SL 245
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D-Street has begun the session on a flat note, but with a positive bias, even as investors look for cues ahead of Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) meet outcome later in the day. The Sensex is up 51.86 points or 0.15% at 34955.07, and the is Nifty up 13.10 points or 0.12% at 10606.30. About 232 shares advanced against a decline of 291 shares, while 48 shares were unchanged. All sectoral indices on the Nifty are largely trading in the flat terrain, while some weakness is seen in the financial names, possibly on a caution note ahead of central bank’s meet outcome. Coal India, Sun Pharma, and Bajaj Finance are the top gainers, while Power Grid, Airtel and Zee Entertainment have lost the most. » Read more
Volatility was the theme of the day on D-Street on Tuesday as investors looked to tread with caution. This is especially ahead of Indian central bank’s meet outcome on interest rates on Wednesday. Benchmarks continued to slip for the third day in a row, with the Nifty managing to give up 10,600, while the Sensex too slipped below 35,000-mark. The 30-share index closed over 100 points lower. » Read more
Equity benchmark indices opened in the red tracking mixed cues from Asian markets and ahead of RBI policy meeting outcome that will be released on Wednesday. On the economy front, The seasonally adjusted Nikkei India Services Business Activity Index fell from 51.4 to 49.6 in May. On the sectoral front, capital goods, consumer durables, power, auto, realty, FMCG, IT, and telecom counters saw heavy selling. » Read more
Benchmark indices closed in the red after volatility on first day of June series Friday as all sectoral indices were in the red barring Auto that outperformed all post May sales data. Continuous correction in midcaps dampened investors sentiment, which led to profit booking after more than 400 points rally on the Sensex in previous session. Investors after digesting better-than-expected Q4 GDP data shifted focus to renewed global trade tensions after the US announced tariffs on steel and aluminium imports. They also closely monitor the movement in crude oil prices and rupee.The 30-share BSE Sensex fell 95.12 points to 35,227.26 while the 50-share NSE Nifty closed below 10,700 levels, slipping 40 points to 10,696.20 ahead of monetary policy committee meeting next week. Overall the market has been consolidating in a range, which may continue further and the stock specific action is likely to remain. » Read more
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The market remained rangebound in morning trade, as investors after digesting better-than-expected Q4 GDP data shifted focus to global trade concerns, and the movement in crude oil prices & rupee. The Nifty Midcap index continued to underperform frontliners, falling half a percent. Select banks and FMCG stocks are under pressure while technology, metals and pharma stocks supported the market. Asian markets remained mixed with investors cautious over trade tensions after the US announced tariffs on steel and aluminium imports. » Read more
Bulls were back with vengeance on Thursday, the expiry day of May futures & options contracts as the late rally helped benchmark indices gained more than 1 percent. The gains were driven by banking & financials, oil & gas stocks and Infosys. Short covering towards the end of session and the gains in global stocks on easing of political concerns in Italy also lifted market sentiment. Investors awaited March quarter GDP growth numbers due later in the day. The 30-share BSE Sensex rose 416.27 points or 1.19 percent to 35,322.38 and the 50-share NSE Nifty gained 121.80 points or 1.15 percent at 10,736.20. In the May series, the Sensex gained 1.7 percent and the Nifty rallied 1.1 percent while Bank index surged more than 7.5 percent. » Read more