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Mid-market commentary : September 15, 2016

By Abhijeet Gosavi | 9/15/2016 1:23 PM Thursday


The Indian markets witnessed trading in a tight range during the mid-market session. The same scenario was seen in the currency segment, wherein the -INR was seen trading at around 67.05 to the dollar. The Nifty is trading down by 8 points at 8717; and the Sensex is down by 22 points at 28348. The indices are trading on a negative note between 0.9-0.14 per cent.

In the mid-market session, 10 out of the 13 sectors are seen trading in the red zone. Banks and Auto have seen the highest loss and are trading down by 197 points and 127 points respectively. Consumer Durables and Capital Goods are down by 94 points and 53 points respectively. Mid-caps and Small-caps were trading in the mix for the day.

All the Asian markets are trading on a mixed note since morning. Nikkei is the top loser so far and has depreciated by 209 points. The Hang Seng is trading higher by 241 points. The Straits Times and KOSPI were also trading on a positive note.

Maruti Suzuki India: Maruti Suzuki India has partnered with Uber to create safe drivers and promote micro-entrepreneurship.

Ashok Leyland: Ashok Leyland has declared the amalgamation of Hinduja Foundries with the company.

NIIT: NIIT has entered into an exclusive partnership with IIM Calcutta to offer Post Graduate Certificate in General Management (PGCGM) in a direct-to-device mode.

Hinduja Global Solutions: Hinduja Global Solutions (HGS) and LivePerson have announced a strategic alliance to provide messaging as a service.

Transformers and Rectifiers (India): Transformers and Rectifiers (India) Limited has received order of Rs 103 crore from Power Grid Corporation of India.

 

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DSIJ Mindshare

Index trend and stocks in action July 22, 2019

Karan DSIJ / Article rating: 5.0

We believe the next major support area for the Nifty is in the zone of 11,300-11,320. On the upside, any pullback rally towards 11,550-11,570 is likely to be resisted and this area is the likely hurdle going forward. Stocks in news: BHEL, CIPLA, Dr Reddy’s Laboratories, CG Power and Industrial Solutions, Strides Pharma Science, IOL Chemicals and Pharmaceuticals, Reliance Industries, McNally Bharat Engineering.

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