Indian equity indices surged on Wednesday, marking their biggest gain in over six weeks following Donald Trump's U.S. election victory. The Nifty 50 rose 1.12%, and the Sensex gained 1.13%. Analysts see this as a short-term boost, signaling potential trend reversal.
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Tata Tech from the midcap index and Equitas SFB, Kolte Patil Developers, Landmark Cars, Nilkmal, Spandana Sphoorty and Tasty Bite from the smallcap index hit their respective 52-week lows
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Top losers on the Nifty were Bharti Airtel, HUL, ONGC, Apollo Hospitals and Tata Steel, while gainers included Power Grid Corporation, Adani Ports, UltraTech Cement, Cipla and Grasim Industries
The short-term technical outlook for Nifty continues to be in favor of the bulls, with support seen at 20089-19909 and resistance at 20500-20751, says Prashanth Tapse, Senior VP (Research), Mehta Equities.
All the sectoral indices ended in the green with BSE Oil & Gas and Power indices adding 5.7 percent each, BSE Capital Goods index up 3.6 percent, and BSE Metal index up 3 percent.
BSE's Sensex added 33.21 points, or 0.05 per cent, to end at 64,975.61. NSE's Nifty50 gained 36.80 .05 points, or 0.19 per cent, to end the day at 19,443.50 for the day
BSE's barometer Sensex tanked 887.64 points, or 1.31 per cent, to end the session at 66,684.26, while NSE's Nifty50 plunged 234 points, or 1.17 per cent, to settle at 19,745 for the day.
Based on the open interest future percentage, total 89 stocks saw long unwinding on Thursday including Polycab India, Nifty Financial, ONGC, Bank Nifty, and Bharat Forge.
Based on the open interest future percentage, a total of 83 stocks have seen long unwinding on Friday including Polycab India, Apollo Tyres, Hindalco Industries, Navin Fluorine International, and Coromandel International.
Much of the wealth erosion was seen in the last four days, with more than Rs 14 lakh crore of wealth destroyed in four consecutive sessions (September 21-26).
Another 5 stocks have fixed record date for final dividend. These stocks are Mrs Bectors Food Specialities, DMR Hydroengineering & Infrastructures, NLC India, Nitin Castings, and Himatsingka Seide.
According to media reports, cotton price is expected to dip to Rs 60,000 per candy by December 2022 because of the slump in demand and the wait-and-watch strategy of the market players
Following the heavy selling in the equity markets, the market value of BSE-listed firms retreated to Rs 245 lakh crore on June 28, 2022 from Rs 266 lakh crore on December 31 last year.
Based on the open interest future percentage, a long build-up was seen in 72 stocks including Abbott India, Federal Bank, Intellect Design Arena, Polycab India, and United Breweries