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After starting the week on a negative note, the market looked for Tuesday to resume its positive momentum last week, supported by strong increases in midcaps. The Senbad managed to end the day nearly 200 points more, while the Nifty managed to exceed 11,000.
Investors in equities should have bet on the decline in crude prices and the rise in rupee. as well as banks, among others. Bond yields have also slowed somewhat.
But the strength of the market is largely due to a sharp rise in the midcap index, which ended up exceeding 2%.
Financials, especially PSU banks, as well as pharmaceuticals, metals as well as energy names have found favor among investors. The State Bank of India, Sun Pharma, HPCL and IOC were the first winners, while HUL, IndusInd Bank and Tech Mahindra were the big losers.
The Senbad closed up 196.19 points or 0.54% to 36519.96. points or 0.65% to 11008.00. The size of the market was positive, with 1443 shares increasing, compared to 1101 shares, while 173 shares remained unchanged.
"In a volatile trading session, equity benchmarks moved in a narrow range during the first half of the session.The Nifty index ended the day with gains of 0.7% for close at 11,008. The general equity indices outperformed the benchmark with BSE Midcap and BSE Smallcap, finishing with gains of 2.1% and 1.1%. "Jayant Manglik, President, Religare Broking , said in a statement
Stocks in the News
Private sector loans percent after announcing better earnings growth thanks to the decline Provisions and strong loan growth for the quarter ending June
HUL: Hindustan Unilever shares lost more than 4% 2018. The company reported a 19.2% year-over-year increase in earnings net standalone at Rs 1.529 crore p For the quarter ended June, some brokers lowered their rating on the stock while others maintained the rating unchanged and increased the target price.
Ashok Leyland: India's third-largest automaker Ashok Leyland surpbaded badysts' expectations Tuesday, with net profit up 232 percent, driven by sustained growth in domestic demand, boosted by a surge in business activity. # 39; s infrastructure. The stock rose 2.1%
The Punjab National Bank's stock price soared 6.5% after the lender announced its action plan for the # 1. Fiscal year 2018-2019. The public sector lender said it would monetize non-core badets to raise Rs 8,600 rupees and achieve net profit greater than Rs.5,500 billion in the second quarter of FY19, reports CNBC-TV 18
Shares of oil marketing companies and airlines climbed Tuesday on lower crude oil prices. WTOs such as Indian Oil, HPCL and BPCL gained 2-6%, while airlines such as Jet Airways, SpiceJet and InterGlobe Aviation (IndiGo) also closed in positive territory.
Global Update
European markets traded in the morning market as investors sought to study trends in corporate earnings as well as indications of Fed Powell's remarks. The Stoxx 600 revolved around the flat line
Meanwhile, in Asia, the market finished lower as energy stocks saw a dip in the midst of low oil prices. Hang Seng Index fell 1.23%
In the future, experts anticipate some volatility ahead. "We expect the markets to remain volatile in the near term, and on the global front, the US-China trade war and crude oil price movements will be closely monitored by investors. Ongoing companies will also result in equity-specific volatility, so we advise traders to be cautious and avoid risky leveraged positions, "said Manglik of Religare.
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