Sensex, Nifty Post Losses For Two Straight Weeks
Decoding The Markets In A Lacklustre Week
Closing Bell: Neither Here, Nor There
Indian equity markets had a lacklustre trading session as investors remained in a wait-and-watch mode ahead of Finance Minister Nirmala Sitharaman's third media address in as many days to announce measures to combat Covid-19.
The S&P BSE Sensex as well as the NSE Nifty 50 index ended little changed at 31,101 and 9,138 respectively. However, both the indices pared initial losses.
The Sensex gained over 320 points from the day's low, while the Nifty gained close to 100 points from 9,050 which was the lowest point of the day.
For the week, the Nifty ended 1.32 percent lower with auto stocks being the top performers after Vedanta. The Sensex ended 1.7 percent lower for the week, with the top three gainers being Auto stocks.
Among sectoral indices in today's session, the Nifty Metal index ended as the only sectoral gainer, ending higher by 1.4 percent. Other indices ended with losses between 0.1-1.7 percent.
Trading Ideas From Pritesh Mehta Of Yes Securities
- Buy United Spirits above Rs 544 for target of Rs 595 and stop loss of Rs 525
- Buy Ramco Cement above Rs 573 for target of Rs 625 and stop loss of Rs 555
Trading Ideas From Kunal Rambhia Of The Streets
- Buy Bharat Electronics for target of Rs 75-90 and stop loss of Rs 60
- Buy Coal India for target of Rs 145-150 and stop loss of Rs 125
- Sell 2,300 Call of Bajaj Finance at Rs 80 for target of the entire premium and stop loss of Rs 130
Stock Update: India Cements
- Trades at the highest level since June 2019
- Gains as much as 7 percent to Rs 108
- Today's volumes are 135 percent higher than its 20-day average
- Latest shareholding pattern shows Radhakishan Damani hiking his stake in the company to 20.49 percent
- Trades near its 52-week high of Rs 116.95 on May 28, 2019
- None out of the 13 analysts tracking the stock have a buy recommendation; 9 sell calls
- The stock is trading 28 percent higher than its 12-month Bloomberg Consensus Price Target of Rs 74.09, implying a negative return potential