Stock Markets Tread Sideways As Rs. 1.7 Trillion Economic Package Lacks Big-Bang Announcements

By -
(Mr. Aamar  Deo Singh, Head Advisory, Angel Broking Ltd.)
Both Nifty and Sensex lacked momentum today even as their Asian counterparts ended their week’s trading activity a notch above. In India, the respective stock markets, on the other hand, indicated a sideway trend. Nifty 50 paired a gain for 4th consecutive day and was up 0.22% during the closing bell. Sensex, on the other hand, was down 0.44% today.
Banks drive value following RBI’s MonetaryPolicy
The reliefs offered in RBI’s Monetary Policy, including 3-month Moratorium period, gave the market a good support as the market sentiment appeared to be bearish. Nifty bank inched closer to the 20,000 level today by closing at 19,969 points. In it, Bandhan Bank was the day’s top performer with an advance of 15.75%. Federal Bank grew by 6.34%, Axis Bank by 5.37%, and IDFC First Bank by 2.99% today. IndusInd Bank corrected by 5.69% after surging around 46% yesterday. RBL and Bank of Baroda also took a beating of around 3%.
Top Performers:
BSE’s benchmark index Sensex saw 13 advances and 17 declines. Axis Bank, ITC, NTPC, and Mahindra & Mahindra were amongst the top performers. Axis Bank saw a rally of 4.98%, ITC of 3.63%, and NTPC of 3.17% at BSE. Power segment also retained the investor confidence as NTPC surged by 3.17% and PowerGrid was up 0.88%. On the other hand, at NSE, Coal India also grew by 6.86% today.
Top Losers:
Massive selloff was seen in the automobile sector today. BSE saw Hero MotoCorp falling by 8.04% while Maruti Suzuki and Bajaj Auto also reeled under the pressure. IT stocks such as HCL Tech and Tech Mahindra also fell by 4.37% and 2.36% respectively. At Nifty, Bajaj Finance fell by 9% today. Hero MotoCorp also closed 7.81% lower and Bajaj Finserv by 4.99%.
Pull back seems to be fading out
The market continues to remain jittery on the back of the coronavirus issue and it will take time, before the efforts by central banks take effect. Further, higher levels could witness selling pressure. The best approach at the moment would be to stick with consumer staples and pharmaceutical stocks.

Comments

  1. Phani Kumar4 July 2020 at 02:53

    Hey, thanks for the information. your posts are informative and useful. I am regularly following your posts.
    Tata Motors
    JSW Steel
    Hindalco Industries

    ReplyDelete
  2. Ady11 July 2020 at 02:45

    Thanks for your valuable information. stock investor is a stock related website which provides day to day information of the stock market.
    Colgate-Palmolive India Ltd
    Biocon Ltd Future

    ReplyDelete

Post a Comment

Popular posts from this blog

QNet launches New Luxury Chairos Watches

By -
Image
·           Five new luxury watches  - Alpine Neo, Vector,  Crusader, Aquatica and Latitude launched in India under Chairos brand ·           Price range of the new collection is from Rs 62,000 to Rs 1,00,000 New Delhi, February 12  2018 :   Leading Asian direct selling company QNet has launched five new models under its luxury watch brand - Chairos. The Chairos brand is QNet’s proprietary range of luxury and sports watches exclusively for India. The new Chairos watches have been designed to combine form and functionality with timeless elegance and style. Commenting on the launch of the new range of watches, Trevor Kuna, Global CEO of QNet said, “Men typically don’t have many options for accessories to splurge on and watches have been known to convey a subtle message about the wearer’s personality. India is a fast growing global economy and more men are turning to active lifestyles, travel and exploring new experiences. Chairos is our flagship brand in India and we want
Read more

नान- शूगर स्वीटनरज़ प्रसिद्ध हो गए हैं: एफ आई सी सी आई सेमीनार मिथ को खत्म करता है और कम कैलरी वाले स्वीटनरज़ के स्वास्थ्य लाभों के बारे में बताता है

By -
मुंबई , 22  जून  2023:   एफ आई सी सी आई ने आज एक सेमीनार को आयोजित किया जिसमें  WHO NUGAG  निर्देशों के बारे में बताया हया जो की नान – शूगर स्वीटनरज़ (एन एस एस) के इस्तेमाल के साथ सम्बंधित हैं।  सेमीनार में आधुनिक विज्ञान सबूत और विश्व स्वास्थ्य संस्था (डब्ल्यू एच ओ) और प्रमुख भारतीय माहिरों के सुझावों की समीक्षा दी गई है। एफ आई सी सी आई ने कार्यवाही की मुख्य ज़रूरत को स्वीकार किया और उन उपायों को अपनाने पर जोर दिया जो ‘स्मार्ट विकल्पों ,  स्मार्ट लाभों और स्मार्ट भविष्य’ को प्रोत्साहित करते हैं।    इन्डियन काउंसिल आफ मेडिकल रिसर्च – इण्डिया डायबटीज़  (ICMR-INDIAB)  द्वारा किये गए हालिया अध्ययन के अनुसार ,  जो यह पुष्टि करता है कि भारत में 101 मिलियन डायबटीज़ के मरीज़ हैं ,  जिससे भारत आज एक डायबेटिक राष्ट्र बन गया है। मेडिकल ,  न्यूट्रीशनल ,  और विज्ञान क्षेत्रों के मुख्य माहिरों के सम्बन्ध में ,  जिसमें  डाक्टर वी मोहन  पदम् श्री अवार्डी ,   डाक्टर बी सेसीकरन ,  डाक्टरमंगेश तिवास्क्र ,  डाक्टर राजीव चावला ,  डाक्टर जगमीत मदान ,  और डाक्टर पुलकित माथुर ,  ने सेमीनार में क्रियाशील तौर पर भा
Read more

Pension Adalat

By -
The Chief Postmaster General, Maharashtra Circle, Mumbai will be holding the 53rd Postal Pension Adalat for pensioners/family pensioners of Postal Department on 29th Sept 2023 at 11.00 Hrs, in the Office of Chief Postmaster General, Maharashtra Circle, Mumbai -400 001. Grievances regarding pensionary benefits pertaining to those who retired/died while in service from Department of Posts, Pensioners of Postal Department, Maharashtra and Goa States, which have not been settled within 3 months, will only be entertained in the Postal Pension Adalat.  Cases involving purely legal points i.e. succession, Notional pension, TBOP/MACP Promotion, stepping up of pay and disciplinary cases involving policy matters and cases pending for review of DPC will not be considered in Pension Adalat .  Pensioner should forward their grievance individually (not in bulk or on behalf of others) in triplicate in the proforma attached to Accounts Officer, Pension Adalat, O/o Chief Postmaster General, Maharashtr
Read more