Tuesday, 22 March 2016

SMART RECOVERY!!! NIFTY SETTLES ABOVE 7700

“BUY TATASTEEL ABOVE 309 TGT 312/320 SL 300”

The BSE Sensex and NSE Nifty were trading in red in afternoon trade as investors opted to book some of their profits after two days of rally. The BSE Sensex opened at 25331 touched an intra-day high of 24372 and low of 25084.  Nifty closed with a gain of 11 points at 7715. Buying in the last half hour of trade in realty, auto, metal, consumer durables and capital goods supported benchmark indices on Tuesday amid volatility. On the global front, China's Shanghai Composite index closed down 0.60% and Hang Seng ends marginally lower. Shares of Reliance Power gained over 2 per cent after the government announced the increase in mining capacity of the company's Sasan project to 17.2 mt. Shares of Bharti Airtel fall over 1 %after the company signed a deal with American Tower Corporation (ATC) to sell 1350 of its towers in Tanzania for roughly $180 million  explosions in Belgium capital of Brussels will only have a sentimental impact on global markets because markets are currently more focused on central bank actions and flash PMI numbers from the euro zone, which were in line with expectations, says Manish Singh of Crossbridge Capital LLP. Mahindra & Mahindra rose 2 percent after its agri business started selling branded dairy products - Saboro in Madhya Pradesh. The Foreign Investment Promotion Board (FIPB) has approved the proposal of YES Bank to increase its foreign investment limit to 74 per cent from present 41 per cent, making it the first bank to get approval for hiking FDI limit after the new regulations were announced in the last year. In November 2015, the government had removed sub-limit restrictions for foreign investments in private sector banks within the overall sectoral limit of 74 per cent. YES Bank shares were trading 0.16 per cent up at Rs 832.
TOP GAINERS: BHEL, Hero MotoCorp, Tata Steel and Hindalo were among while
TOP LOSERS: Dr Reddy's, ITC, Adani Ports, HUL and Wipro.

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