Nifty opens above 7450, Sensex gains;
Tata Motors, Sun Pharma up Tata Motors, Sun Pharma, Axis Bank, Maruti and Bajaj Auto are top gainers in the Sensex. Among losers are GAIL and TCS.
Nifty Technical Overview:
Nifty futures opened with positive note and witnessed
bearish movement for the entire day and closed on positive note around 200 days
EMA. On Wednesday nifty future can trade downside if it sustain below the level
of 7450 then below the level of 7410 it can test the 7380-7350.
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Bank Nifty Technical Overview:
Bank Nifty futures opened with positive note and witnessed
bearish movement for the entire day and closed on positive note around 200 days
EMA. On Wednesday nifty future can trade downside if it sustain below the level
of 7450 then below the level of 7410 it can test the 7380-7350.
INDIAN MARKET OVERVIEW
After a good rally in equity benchmark, the
market ended on flat note. Nifty future up 19 points at 7434.
The 30-share BSE Sensex up 50 points at 24485.
The market breadth was very strong as about 1730 shares advanced against 924
declining shares on the BSE.
HDFC Bank's third quarter net profit increased
20 percent to Rs 3,357 crore from Rs 2,794.5 crore and net interest income
climbed 24 percent to Rs 7,068.51 crore from Rs 5,700 crore in year-ago period.
Around 35 percent saw external shocks as the
greatest challenge facing India’s economy, up from just 10 percent in the
previous poll in May 2015. However, this is more likely a reflection of the
broad-based spike in global risk aversion rather than India’s relative
vulnerabilities, said the Moody's release
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