Thursday, 17 March 2016

FED FAILS TO CHEER!!!!!!!NIFTY ENDS FLAT AMID WILD REVOLUTION

“SELL YESBANK BELOW 790 TGT 785/775 SL 800”
Nifty closed at 7513 up 14 points. The NSE Nifty opened at 7557 hitting a high of 7585 and low of 7479. on Thursday after the US Federal Reserve maintained its status-quo stance on the key benchmark rate, after reduced the number of interest rate hikes expected this year to two from four earlier. Market breadth remained positive with 17 of the Sensex components ending the day in green However, the joy were short-lived on account of profit booking at higher levels. Banking, healthcare, realty, auto and financial stocks were among the top losers. Oil & gas, capital goods, telecom and power stocks were among the major gainers. Even the mid-cap and small-cap stocks ended with gains The Indian Rupee was trading up by 52 paise at 66.65 per US dollar. Most Federal Open Market Committee participants now expect that achieving economic outcomes similar to those anticipated in December will likely require a somewhat lower path for policy interest rates than foreseen at that time. I would like to underscore, however, that the participants' projections for the federal funds rate  including the median path  are not a plan for future policy.
Lupin was the worst performing stock on both the benchmark indices and shed over 4 per cent. Reliance Infrastructure gained 2.3% at Rs.508. The Board of Directors approved a scheme of arrangement between Reliance Infrastructure Limited and Reliance Electric Generation and Supply Private Limited (REGSPL) and their respective shareholders and creditors subject to requisite approvals.
GAINERS: BPCL, Ambuja Cement, Tech Mahindra, GAIL, ACC, BHEL, Idea Cellular and Adani Port
LOSSERS: Lupin, HDFC, M&M, HDFC Bank, IndusInd Bank, Sun Pharmaceuticals and Yes Bank

 
 

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