Mid market commentary : July 04

The Indian market carried on with its northward journey also in July start of second week. Apart from FMCG all the sectoral indices are trading on green mark. At present Nifty is trading up by 62 points to trade at 8391 and the Sensex is up by 213 points and is trading at 27358. Both the indices were seen trading higher by more than 0.75 per cent each.

On the NSE, the advance-decline ratio is positive with 1753 advances and 761 declines.

Top Nifty Gainers:  Adani Ports is leading the gainers' list so far and is up by 4.2%. It is followed by BHEL, ONGC, Tata Motors (DVR) and Tata Motors.

Top Nifty Losers: BOSCH is leading the losers' list so far and is down by 2.3%. It is followed by ITC, Grasim, NTPC and Dr. Reddy's Labs.

Majority of the sectoral indices are trading on a positive note. Capital Goods the top gainer, is trading up by 218 points. It is followed by Oil & Gas , Bankex and Auto, which were up more than 15 points each. Mid-caps and Small-caps are also positive in this scenario and were higher by 144 points and 100 points respectively.

The Asian markets continued to trade in green. Hang Seng is up by 271 points. It was followed by the Nikkei which is up 93 points. The Straits Times and KOSPI were trading on a positive note.

Buzzer:  Bajaj Auto: The June month sales data is out on Monday. Bajaj Auto has reported 4 per cent decline in total sales in June at 3,16,969 units against 3,31,317 in the same month of previous fiscal. The stock will be watched out for rest of the trading session.

Sobha: Sobha launches Sobha Winchester in Chennai - the super luxury apartment. The project includes 344 units having 1BHK-4BHK super luxurious apartments ranging from 60.53 square meter to 261.68 square meter. The share price of the company is in focus on Monday.

Asian Granito India: Asian Granito India launched Premium Grestek - Glazed Vitrified Tiles and New Grestek Marvel - Premium Color Body tiles for wall and floor. These products are fresh in this segment with touch of Italian choices. The stock will be in focus on July 4.

Adani Ports and Special Economic Zone: The company is finding ways for acquisition of TM Harbour Services. TM Harbour Services is engaged solely in providing tug services to the Dhamra Port Company (DPCL), a wholly-owned subsidiary of the company. The share price of the company will be watched out for rest of the trading session.

Indian Oil Corporation: Indian Oil Corporation (IOC) lines up Rs 40000 crore to take refining capacity beyond 100 MT by 2022 as the nation's largest oil firm takes the lead to add capacity to meet India's rising energy needs.

Nifty Futures continues to trade with an uptrend and is trading around 8400 level. The levels of 8330/8280 will be the immediate support levels.