Sensex Today | All sectors ended the special trading session in the green, with capital goods, PSUs, industrials and media leading from the up. Metals, PSU banks, pharma and realty also posted decent gains.
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Sensex Today | Stock Market LIVE Updates: Nifty Media, Nifty Bank top sectoral gainers at this hour kkkkeeeeellll aaaaaaaaaa jdddddddddddddddddddddddddddddddddddddddddddddddddddddddjw
Sensex Today | Stock Market LIVE Updates: Markets trend higher on May 15
Sensex Today | Stock Market LIVE Updates: Nifty Auto, Nifty Realty indices top sectoral leaders at this hour, while India VIX spurt 15 percent
Sensex Today | Stock Market LIVE Updates: Nifty Auto, Nifty Pharma top sectoral leaders at this hour
Amisha Vora, Joint Managing Director, Prabhudas Lilladher says markets are showing good amount of resilience. This resilience and inflows could continue, so its still a buy on decline market.
SUMMARY
Auto stocks were in focus as they started announcing February sales data. Maruti Suzuki shares gained half a percent after reporting 10.9 percent growth in February sales year-on-year while Eicher Motors too gained over half a percent as Royal Enfield sales increased 19 percent in the month gone by.
BHEL, Hero Motocorp, ONGC, Axis Bank, Cipla, Bharti Infratel and Power Grid Corp were early gainers while Tata Motors, Bharti Airtel, Tech Mahindra, Idea Cellular, UltraTech Cement and M&M were under pressure.
Auto stocks were under pressure ahead of February sales figures that will be announced on March 1. Bajaj Auto and Hero Motocorp fell 1-1.5 percent. Tata Motors and Maruti Suzuki declined 0.25-0.5 percent.
Domestic liquidity is unlikely to dry up any time soon and that could limit market downside, says Harsha Upadhyaya, CIO Equity at Kotak Mutual Fund.
According to Prakash Diwan of Altamount Capital Management, Escorts needs to reinvent itself in newer areas like defence or railways. He said the stock justified its rich valuations and said that is a clear vindication of the faith that people had on the stock.
Experts expect consolidation to continue but don't see major correction in near term. After more or less stable earnings from banks, the market will closely watch third quarter earnings of SBI & Bank of Baroda, country's largest public sector lenders, on Friday.
Global brokerage firm Morgan Stanley on Thursday said it expects the Sensex to touch the 39,000-mark in a 'bull case' scenario by this December.
TCS, HCL Technologies, Tech Mahindra, ITC, M&M and Bharti Infratel rallied 1-2 percent. Tata Steel, Cipla, PNB and L&T were down 1-3.5 percent.
SBI, Adani Ports, ONGC, BHEL and Axis Bank are top gainers while Infosys, Bharti, ICICI Bank, NTPC and Coal India are losers.
Dalal Street caught in bear grip as equity benchmarks fell more than 1 percent and the broader markets shed more than 2 percent. Nifty Auto and Bank indices were down 2 percent each while Realty plunged 4 percent.
What‘s making investors edgy is that unlike financial crises, political crises cannot be quickly fixed with monetary tools like rate cuts and liquidity infusion. But that won‘t stop central banks from trying.
The normal sense would say that don't do anything, actually this is the market in which you may want to just now stay on the sideline and not trade or at least not take over night positions because you never know what might come from the Fed.
'Don't catch a falling knife' goes a popular investing adage that recommends against buying stocks that have fallen a lot recently. But Dipen Sheth, Head of Research at HDFC Securities, recommends you make an exception for bank stocks.
The market is still under pressure as all eyes are on the FOMC tonight. The Sensex is down 20.34 points at 25130 and the Nifty is down 12.80 points at 7637.25. About 1221 shares have advanced, 812 shares declined, and 133 shares are unchanged.
Sun Pharma, Hindalco, Tata Steel, Coal India and Maruti are top gainers while Cipla, ICICI Bank, ITC, HDFC Bank and Tata Motors are down in the Sensex.
"December 2016 BSE Sensex base case is 28,000 against 28,600 earlier and probability weighted outcome is forecast at 30,200 against 31,000 earlier, Desai says.
The kind of volatility we are likely to see is really going to be incredible. The India VIX is up 8 percent this month but that could be just a teaser. My sense is that what you saw yesterday 200 point Nifty swing in three major moves.