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Taking Stock: Nifty holds 11,300 on a volatile day; mid & smallcaps outperform
Taking Stock: Nifty holds 11,300 on a volatile day; mid & smallcaps outperform
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Sectorally, selling pressure was seen in telecom, healthcare, banks and energy stocks, while some action was seen in capital goods, industrials, consumer durables and metals stocks.
Jateen Trivedi, Senior Research Analyst (Commodity & Currency) at LKP Securities:
Rupee ended little changed Thursday as overseas inflows related to HDFC and ICICI Bank’s Qualified Institutional Placement (QIP) offset dollar buying by nationalized banks likely on behalf of oil importers. Rupee looks stable in range of 74.60-75.25 in coming session.
Vinod Nair, Head of Research at Geojit Financial Services:
The markets gave up initial gains in another volatile day of trade, to end the day flat with a negative bias. Global cues were also mixed as Asian markets ended positive while European markets were trading in the negative. Uncertainty in global markets has emerged due to the doubtful US stimulus package and impact of the US-China trade meeting over the weekend. Domestic stock valuation concerns and continuing high rate of virus infections impacted the Indian markets. Markets seem to be in a wait and watch mode, and investors are advised to tread cautiously and accumulate stocks.
Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments:”
The Nifty index has become rangebound – between 11250 and 11350. It is a very narrow range and hence difficult to trade. I would advice a trade only if either side of the range is triggered. The trend so far continues to remain bullish, the markets are taking its own time to move up. The bias, for now, continues to remain on the upside and we could target 11450-11500 as the target. The support of the Nifty is at 11100-11150.
Ajit Mishra, VP – Research, Religare Broking:
Markets remained range-bound for yet another session and settled almost unchanged. It opened with an uptick, tracking firm global cues but profit-taking at the higher levels pushed the benchmark lower the day progressed.
Markets have been hovering in a narrow range for the last four sessions and indications are in the favour of further surge. However, a lot would depend upon the outcome of the Supreme Court hearing on AGR case on Friday. We thus advise continuing with hedged trades, with the bias on the positive side.
#MarketswithMC | Closing Bell 🔔 #Sensex, #Nifty end flat amid volatility; metals outshine#StockstoWatch #StockMarket LIVE: https://t.co/nShVj82S9U pic.twitter.com/Ywd6H7g04g
— moneycontrol (@moneycontrolcom) August 13, 2020
Market Close: Benchmark indices erased the opening gains and ended flat with negative bias for the second consecutive day on August 13.
At close, the Sensex was down 59.14 points or 0.15% at 38310.49, and the Nifty was down 7.90 points or 0.07% at 11300.50. About 1564 shares have advanced, 1128 shares declined, and 136 shares are unchanged.
Eicher Motors, Sun Pharma, Bharti Airtel, NTPC and HDFC Life were among major losers on the Nifty, while gainers included Tata Motors, Hindalco, L&T, Titan Company and Bharti Infratel.
On the sectoral front, except bank and pharma other indices ended in the green, while BSE Midcap and Smallcap indices rose 1.6 percent and 0.7 percent respectively.
PFC Q1:
The company’s Q1 net profit rose 22.9% YoY at Rs 1,699.6 crore versus Rs 1,382.8 crore and revenue was up 15.6% at Rs 8,757.7 crore versus Rs 7,577.3 crore, reported CNBC-TV18.
Shoppers Stop Q1:
The company’s consolidated YoY net loss at Rs 120.3 crore against loss of Rs 0.1 crore and revenue was down 93.6% at Rs 55 crore against Rs 854 crore, reported CNBC-TV18.
