Sensex
gains 90 points, Nifty50 above 7,850; DRL cracks 9%, Sun Pharma gains 2%
The
S&P BSE Sensex rose nearly 100 points in morning trade on Thursday, led by
gains in Infosys, Sun Pharma, ICICI Bank, Tata Motors, RIL, and Axis Bank,
ahead of November month's F&O expiry today.
The
Nifty50 also managed to reclaim its crucial psychological level of 7,850, led
by gains in FMCG, IT, banks, capital goods, consumer durable, and realty
stocks.
Shares of Dr Reddy's Labs cracked over 9 per
cent in trade after the as withhold approval of the company's fresh drugs and
stop import if no corrective action is taken. Meanwhile, shares of Lumax Auto
Systems surged over 17 per cent and Globus Spirits gained over 10 per cent in
trade.
Tata Motors was down 0.25 percent as Goldman
Sachs has downgraded the stock to sell from neutral as it believes the stock
has priced in better H2FY16 volume growth and margin after H1FY16 slump.
The Finance Ministry has recently proposed a
roadmap for the phasing out of all tax exemptions by the industry. According to
proposal sunset clauses with regards to tax exemptions will be renewed and no
weighted deduction will be allowed for any specified business activity from
April 1, 2017 onwards.
Dr Reddy's Labs is down 8.5 percent while Hero, HDFC Bank, Wipro
and Lupin are major losers. Sun Pharma, Tata Motors, Infosys, L&T and HUL
are top gainers. The Indian rupee has opened marginally lower at 66.35 per
dollar on Thursday against 66.32 a dollar in previous trading session.
Bank Nifty Market Trend Analysis for 26-Nov-2015
Bank Nifty Market Trend Analysis for 26-Nov-2015
SUPP 1: 16830
SUPP 2: 16550
RES 1: 17170
RES 2: 17450
Fore More Details Visit to us: http://www.capitalheight.com/nifty-future.php
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