Monday, 18 April 2016

INFOSYS PLAYED MAGICAL ROLE HELPING NIFTY CROSS HURDLE OF 7900

BUY IBREALEST ABOVE 57.70 TGT 58.90/60.50 SL 56.40
Infosys came out with better-than-expected results and that's why we are seeing some cheer in the market but this has to be followed up by TCS Infosys helped the BSE Sensex gain more than 200 points intraday Monday despite weakness in global peers due to slump in oil prices. The broader markets outperformed benchmarks with the Midcap and Smallcap indices rising more than 1 percent.  Sensex ended with a gain of 189 points at 25816. Sensex opened at 25833 touched an intra-day high of 25870 and low of 25634. The NSE Nifty closed with a gain of 64 points at 7915. The NSE Nifty opened at 7908 hitting a high of, 921 and low of 7843. Infosys was the biggest gainer on Sensex today, up 5.7 percent after operating profit in March quarter. Even its FY17 dollar revenue guidance of 11.8-13.8 % is better than Nasscom's industry growth forecast of 10-13 %. Tata Consultancy Services dropped 2% to Rs.2472 ahead of Q4 numbers. The company will announce its Q4 numbers today. TCS received a jury verdict in a recently completed jury trial in a lawsuit filed by Epic Systems in the court of Western District Madison, Wisconsin. Globally, markets were lower as oil tumbled after top oil producers failed to reach an agreement to freeze production. In Asia, Japan's Nikkei lost 3.4 percent, taking a hit from large earthquakes last week. Shanghai was down 1.4 percent and Hang Seng declined 0.7 percent. European markets recovered early losses to trade flat The broader markets continued to outperform benchmarks with the BSE Midcap and Small cap indices rising around a percent each but the market breadth was slightly positive. About 1351 shares advanced against 1133 declining shares on Bombay Stock Exchange
TOP GAINERS: Infosys, Idea Cellular, BPCL, Ultra TechCement, Bharti Infratel, Yes Bank and Cipla
TOP LOSERS: Bank Of Baroda, GAIL, ONGC, SBI, Hero MotoCorp and Bajaj-Auto

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