Markets snap a two-session winning streak led by Metal and FMCG Stocks.
After opening on a humble note market could not sustain on the high side as well as we’re just unable to carry forward the previous week’s momentum and closed the session marginally lower as investors remained cautious ahead of unscheduled meet of the US Federal Reserve later in the day.
- UPL and Advanta boards approve merger.
- STAR gets approval from USFDA for Dutasteride Softgel.
- Suzlon surged as wins order for 31.50 MW wind power project.
- PC Jeweller ends on a flat note as inks MoU with Martian Watches.
- YES BANK gains as launches Interactive Bank statement.
STOCKS WERE IN FOCUS:
- Pharma major Aurobindo moved higher after co told that they gets nod from USFDA for Sildenafil tablets.
- Max India shares tanks nearly 4 pct as company to divest 23 pct stake In Max Bupa Health Insurance.
- Nestle India dips despite of positive news flow that company resumes manufacturing at the Pantnagar factory in Uttarakhand.
- Bajaj Electricals tanks after company board gives nod fro demerger of manufacturing biz of Hind Lamps.
- Lanco Infratech gains nearly 8 percent on the reports of signs MOU with Chhattisgarh Government
- HCL Infosystems gains more than 7 percent on the back of huge trading volumes, stock opened at 59.75 and made high of 64.35 on the NSE.
- Titan moved higher on the reports of in pact with HP to offer a range of smart watches to be launched soon.
- ZEEL gains as Zee Theatre to launch plays from this Dec 25 2015.
- Radico EQ is heading towards being a strong resistance point above it more buying seen. Buy above 130.70 targets 132/133.30/134.70 SL 129.30.
- Laopala EQ had shown pull back nearby its support, which indicates more buying from current level. Buy above 588.90 targets 594.80/600.80/606.80 SL 583.
Today Market Update:
– GOLD HAS GOT RESISTANCE AT AROUND RS. 25260. IF COMEX GOLD GOES ABOVE USD 1071.50-80 THEN WE COULD SEE MCX GOLD TOUCHING PREVIOUS DAY CLOSE.
– NIFTY IN SPOT IS TRADING AT ITS SUPPORT LEVEL OF 7850. EUROPEAN MARKETS HAVE OPENED ON A FLAT NOTE; IF EUROPE MOVES DOWN FROM HERE THAN NIFTY IS EXPECTED TO GIVE CLOSING BELOW 7850, WHICH IN TURN WILL TRIGGER SELL OFF. CLOSING OF NIFTY SPOT BELOW 7850 IS CRUCIAL FROM TRADING AND HOLDING PERSPECTIVE.
– INDIAN MARKETS ARE EXPECTED TO MOVE IN RANGE AS GLOBAL MARKETS ARE TRADING MIXED. SECOND HALF MIGHT INTRODUCE MORE VOLATILITY IN NIFTY. ADANI PORTS INCLUDED IN SENSEX FROM NEXT MONTH. KOTAK MAHINDRA BANK GOT APPROVAL FOR ITS INSURANCE BUSINESS. PHARMA COS MIGHT MAKE SOME POSITIVE MOVEMENT. COMEX GOLD LOOKS POSITIVE ABOVE USD 1071.50.
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