Mid market commentary June 07
DSIJ Intelligence / 07 Jun 2016
Indian stock markets on Tuesday opened on a positive note as the global market has fairly remained in green. The markets have gained, as RBI kept the repo rate unchanged at 6.50 per cent. On the sectoral front all the major indices are trading in green. Bank index, Media index and FMCG index are amongst the top gainers.
Indian stock markets on Tuesday opened on a positive note as the global market has fairly remained in green. The markets have gained, as RBI kept the repo rate unchanged at 6.50 per cent. The banking stocks have still managed to remain in green after PSU meet, as the centre plans to infuse Rs 25000 crores to bring down the distress. Market breadth remains positive with 929 advances and 484 declines in BSE stocks. BSE Small cap is 0.74 per cent up and Mid cap has surged by 0.42 per cent.
On the sectoral front all the major indices are trading in green. Bank index, Media index and FMCG index are amongst the top gainers. Bank index is up by 214 points; Nifty media has surged by 1.40 per cent. FMCG index is up by 78.70 points.
Top Nifty gainers on Monday as at 11.50 am are ICICI Bank, SBI, Zee Entertainment, UltraTech Cement, Yes Bank. Out of the top 5, the three top gainers are banking stocks with ICICI gaining more than 3 per cent, SBI surging by 2.49 per cent, and Yes Bank being up by 1.61 per cent.
Top Nifty losers as at 12.00 pm are BPCL, Eicher Motors, Bharti Infra, Tech Mahindra, Dr Reddy's Labs. All the 5 stocks are marginally down by less than 1 per cent.
Nifty 50 on Tuesday morning opened on a positive note and was trading around 8235.55. However, as at 12.06 pm, the index is currently trading at 8244.95, up by 0.54 per cent.
Stocks to watch:
Dhanlakshmi Bank: The bank shares have surged by 7 per cent as the bank is likely to be the target of leading private sector banks for a takeover.
UltraTech cement: The shares of Ultra Tech have gained by 3 per cent as the company on June 6 commissioned its 15th cement grinding unit in Bihar.
Hindalco: Metal stocks gained on Tuesday amid a global rally in base metal prices after the US dollar fell to a three-week low against a basket of global currencies. The share is up by 2.45 per cent.
ICICI/ Yes Bank: The stocks are amongst the top gainers in banking index. ICICI bank is planning to raise Rs 25000 crores, which has given large momentum to the stock to surge.
Ramco Cements: Ramco Cement makes history; hits all-time high. The shares have surged by 6 per cent.
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