Wednesday, 20 April 2016

NIFTY TRADED IN A NARROW RANGE

IBREALEST CALL GIVEN ON 18 APRIL CASH BLOG ACHIEVED FIRST TGT AND ON HOLD FOR SECOND
After a consolidation, the Nifty ended higher for the sixth consecutive session on Wednesday, The S&P BSE Sensex closes 0.11%, or 27.82 points, higher at 25,844.18, while the Nifty 50 closes flat at 7,914.75 points. Shares of Wipro Ltd closes 2.31% higher at Rs.602.75 apiece on BSE ahead of its March quarter (Q4) results.supported by banking & financials and metals stocks. Weakness in European peers limited the upside.The metal, consumer durables, banking and capital goods were among the top gainers. On the other hand, telecom, oil and gas, realty and pharma stocks ended with losses. Some buying activity is seen in metal,consumer durables, power, capital goods, basic material, industrial, utilities and banking sector, while energy, IT, telecom, oil and gas, pharma, realty and auto are showing weakness on DCB Bank surged 10.6 percent. Kotak has upgraded DCB Bank to add from sell with unchanged target price of Rs 100 as it expects 15-16 percent return on equity in the long term .
Mahindra and Mahindra Ltd falls 2.4% to Rs.1,309. According to news report, Lebanon halted work with Mahindra Group over Israeli Link. Mahindra Group had won bid to conduct feasibility studies to set up industrial zones in Lebanon for United Nations Industrial Development Organization, the report added. The Indian Rupee was trading up 36 paise at 66.19 per US dollar.Tata Steel, Axis Bank, GAIL, Wipro, Coal India, HDFC, ONGC, NTPC, Adani Ports and Dr.Reddy's are among the gainers, whereas M&M, TCS, RIL, Maruti Suzuki,Sun Pharma, Asian Paints and Lupin and are losing sheen on BSE.

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