Mid-market commentary: August 11, 2016
DSIJ Intelligence / 11 Aug 2016
The Indian markets witnessed some consolidation in a small range in mid-session. Most of the sectoral indices are hovering at the opening levels. The Nifty is trading down by 9 points at 8565; and Sensex is 16 points lower at 27791. The indices are trading negative between 0.06-0.11 per cent.
The Indian markets witnessed some consolidation in a small range in mid-session. Most of the sectoral indices are hovering at the opening levels. The Nifty is trading down by 9 points at 8565; and Sensex is 16 points lower at 27791. The indices are trading negative between 0.06-0.11 per cent.
The advance-decline ratio is balanced. On the NSE, 677 shares are in the green and 787 shares are in red.
Top 5 Nifty Gainers: Idea Cellular is leading the gainers' list so far, up by 2.5%. Eicher Motors, Reliance, Lupin and ITC are also in gains.
Top 5 Nifty Losers: Bank of Baroda is down by 8.6%, followed by Grasim, Zee Entertain, Sun Pharma and Bharti Infratel.
7 out of the 13 sectors are trading in the red zone. Auto was the top loser, down by 129 points. Metals were down by 95 points and Capital Goods have lost 80 points. Mid-Caps and Small-Caps also have lost 32 points and 10 points respectively. However FMCG, IT and Oil & Gas indices are providing some support.
The Asian markets are all trading in the mix since morning today. Taiwan is the top loser so far, down by 68 points and Nikkei is down by 29 points. Hang Seng, Straits Times and KOSPI are nominally positive.
Stocks to watch:
Hexaware Technologies: The software company, Hexaware Technologies has announced a collaboration with WorkFusion, the leading smart process automation provider to deliver RPA and AI-powered cognitive automation to enterprises across the globe.
Yes Bank: The bank is set to launch a share sale of USD 1 billion to the institutional investors to support its expansion plans. The stock is trading lower at a 1.8 per cent loss.
Inox Wind: Inox Wind has bagged yet another order from Surya Vidyut Limited for 50 MW project at Rojmal in Gujarat.
BHEL: BHEL has received government’s approval on R&D project worth Rs 1,554 crore to develop an advanced ultra-super critical (AUSC) technology for thermal power plants.
Bank of Baroda: The stock of Bank of Baroda has fallen by 8 per cent after the company reported nearly 60 per cent drop in YoY net profits to Rs 423.62 crores.
Nifty futures has been able to sustain above 8500 in today’s session. The markets are hoping for some recovery from the current levels to 8600.
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