Thursday, 21 January 2016

MARKET IS DRIVEN BY SENTIMENTS

M&M 1TG ACHIEVED CALL GIVEN IN LAST POST
“BUY RUSHIL ABOVE 182 TG 185,189 SL 179”
Sensex fell 99 points to 23962 and Nifty declined 32 points to 7276. This is the first time since May 15, 2014 that the benchmark has closed below the psychological 24000 mark. The Nifty closed 0.4 per cent lower at 7277.  The broader markets were mixed as the BSE Midcap index lost 0.3% percent and Small cap gained 0.5%. Market is driven by sentiments and it is still very much in the risk-off mode globally. Equity benchmarks fell further on weak global growth worries. Overall it was a volatile session today’s decline was led by  health care  Oil, pharma, FMCG and auto stocks dragged while banks and select technology stocks limited downside. Domestic institutional investors continue to buy stocks, providing some support to markets.

Reliance Industries, Tata Motors, Maruti Suzuki, HUL, ONGC and Dr Reddy's Labs were top gainers, up while Axis Bank continued to be leading contributor gains up 3.5%. Markets in Asia lost early gains and slid into negative territory in afternoon trade.
Out of the 30-share Sensex pack, 16 closed fell, while Bharti Airtel ended steady. From the Sensex kitty, Maruti Suzuki was the worst-hit, down 4.11 per cent, followed by Dr Reddy’s at 4 per cent. Other losers included Tata Motors, Coal India, Sun Pharma, ONGC, Hindustan Unilever, Cipla, RIL, L&T, M&M and ITC Ltd.

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