Equity Report Outlook|24 carat financial services | 17 August 2017

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Equity tips:-


equity tips
Equity tips

  • Nifty future is looking bullish on the charts .In today’s trading session Nifty traded with positive movement and closed with overall gain of 0.93%. Nifty has crosses its important resistance mark of 9870 and sustaining above it. In upcoming trading sessions further up side movement can be seen in it and it can test up side levels of 9940 & 9970 if it crosses its next resistance level of 9910 while downside 9870 will act as a good support level .
BankNifty

  •  BANK NIFTY future is looking bullish on the charts .In today’s trading session Bank Nifty traded with positive movement and closed with overall gain of 1.19%. Bank Nifty has crosses its resistance level of 24400 and sustaining above it. In upcoming trading sessions further up side movement can be seen in it and it can test up side levels of 24600 & 24700 if it crosses its next resistance level of 24500 while downside 24300 will act as a good support level. 

NIFTY & SENSEX  

Markets end in green for second straight day 

  • Nifty ended at 9,897 level, up by 103 points while Sensex ended at 31,770 level, up by 321 points on Wednesday. There were 1,111 advances, 535 declines and 311 unchanged stocks on NSE reflecting strong positive sentiments floating in the market. Bulls started dominating the market in the afternoon hours. All the sectoral indices on NSE managed to close in positive territory. 
  • Tech Mahindra was the top Nifty gainer, ending with gains of 4.43% at Rs 420 per share. Power Grid Corporation was top Nifty loser, closing at Rs 219.8 per share, down by 1.32%.
  • SEBI eased rules for lenders buying stakes in distressed companies., exempting them from making open offers to the shareholders. Bank Nifty index ended with the gains of 321 points at 24,437 level. Punjab National Bank was top gainer in the index to close at Rs 148.8 per share, up by 3.91%.
  • Tata Steel ended at a fresh 6-year high of Rs 632.15 per share, up by 1.35%.
  • Tata Global Beverages gained over 8.5% after the company signed pact to sell its Himalayan brand of bottled water in the US. The stock ended at Rs 193.45 per share, up by Rs 14.75 per share or 8.25%. Tobacco stocks also witnessed healthy upward movement in the Wednesday’s trade. Godfrey Phillips India was up by 14.31% at Rs 1043 per share and VST Industries gained 2.64% to close at Rs 2,800 per share.Biocon confirmed that it has withdrawn application for two key biosimilars from the European markets. The stock was the biggest loser in pharma segment to close at Rs 328.1 per share, down by 6.06%.

Closing Bell:  

Gainers :- Tech Mahindra, Cipla (+4%). 
 Losers :-   Power Grid, Asian Paints (-1%).

 Tata Global stock 

surges 8% on plans to launch 'Himalayan' in US.

AB Fashion 

(+5%) enters into multi-store retail and e-comm licence agreement with American Eagle Outfitters, Aerie Brands for Indian market.

SEBI

 Eases rules for lenders buying stake in distressed companies. Bhushan Steel (+11%), Amtek Auto, Monnet Ispat (+10%), Jaypee Infra (+5%), Jyoti Structure (+4.5%), Alok Ind (+3.5%).  

Granules India

 gets of Establishment Inspection Report from USFDA for Gagillapur unit. Stock shines 9.5%. 

Biocon 

stock falls 6% after company withdraws application for EU approval of two drugs.

Nifty FMCG Index

 gains 2.5%. Tata Global (+8.5%), Godrej Ind (+6%), United Spirits, Britannia, ITC, HUL (+3%).  

Tata Power

 stock gains 3% as generation capacity rises to 13%. 

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  • The infor-mation herein, together with all estimates and forecasts, can change without notice. Analyst or any person related to 24 Carat financial Services might be holding positions in the stocks recommended. It is under-stood that anyone who is browsing through the site has done so at his free will and does not read any views expressed as a recommendation for which either the site or its owners or anyone can be held responsible for. Any surfing and reading of the information is the acceptance of this disclaimer. All Rights Reserved. Investment in equity & bullion market has its own risks. 
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