Equity Report Outlook|24 carat financial services

NIFTY:-


NiftyTips

Nifty future is looking bullish on the charts .In today’s trading session Nifty traded with positive movement and closed with overall gain of 0.76%. Nifty has crossed its important resistance mark of 9850 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 9900 & 9940 if it crosses its next resistance level of 9875 while down side 9800 will act as a good support level.

BANKNIFTY:-

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 1.14%. Bank Nifty is sustaining above its important support mark of 24200. In upcoming trading sessions up side movement can be seen in it and it can test up side levels of 24400 & 24500 if it crosses its next resistance level of 24300 while down side 24200 will act as a good support level.

NIFTY & SENSEX

Markets end sharply higher

Benchmark indices ended Wednesday’s trade at their highest point of the day showcasing bullish mood. The closing hour of trade witnessed major volatility in the market. Nifty was swinging between 9,800 level throughout the day and finished at 9,852 level up by 86 points. BSE Sensex gained over 260 points to close at 31,568 level contributed majorly by HDFC Bank.
HDFC Bank closed higher by 1.01% at Rs 1768 per share. Bank Nifty ended at 24,316 level, up by 342 points or 1.43%. Upward movement in the index may be attributed to the SBI Chairman, Arundhati Bhattacharya’s recent media address wherein she talked about the requirement of more transparency in financial statements of steel companies.
BSE Mid-cap index closed higher by 1.38% at 15,131. BSE Small-cap index closed higher by 1.18% at 15,570. India VIX closed lower by 6.5% at 13.18 There were 1,109 advances, 542 declines and 311 unchanged stocks on NSE reflecting a positive undertone floating in the market.
Indiabulls Housing Finance, Bharti Airtel and Tata Steel were the top Nifty gainers, whereas Tech Mahindra, Tata Power and Bharti Infratel were the top Nifty losers. Realty stocks were buzzing on the bourses throughout the day.
Realty stocks were buzzing on the bourses throughout the day. BSE Realty was the top index gainer among other sectoral indices on BSE. Indiabulls Real Estate closed up by 6.47% at Rs per share, DLF closed higher by 5.31% at Rs 184.6 per share and HDIL closed higher by 3.11% at Rs 61.35 per share.

Closing Bell:-

Gainers:-

Indiabulls HF (+4%),

Airtel, Tata Steel (+3%).

Losers:-

Tech Mahindra,

Tata Power (-2%), Infratel (-1%).

Tata Steel:-

Stock climbs 2.5% as company expresses interest in Essar Steel.

BSE Telecom Index:-

Gains over 1.5%. Tata Comm (+4%), Idea (+3%), Airtel (+2%), TTML, MTNL, RCom (+1%).

Lupin:-

Launches generic Seroquel XR tablets in US.

Nifty PSU Bank Index:-

Up 2% after Cabinet gives in-principal nod for PSU bank merger and consolidation. Allahabad Bank, Union Bank (+4%), PNB, Bank of India (+3.5%), SBI, IDBI Bank, Canara Bank (+2%).

Nandan Nilekani likely to return as Infosys
head, as per media reports. Stock gains 2%.

Hindustan Copper:-

Stock spurts 2% on investment plan.

Fortis Healthcare:-

Stock soars 7.5% after Rakesh Jhunjhunwala buys shares.

DLF:-

Board meet on August 25 to review the status of the proposed sale of compulsorily convertible preference shares to GIC. Stock zooms 5%.

Eris Lifesciences:-

Stock up 2% on RBI nod for increase in FII investment limit.

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