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Nifty closed flat for the day and lost more than 1.75% during the week. Immediate strong support is at 7200 and Resistance at 7350  For short term,  buying may be avoided  till it closes above 7350 or gets nearer to major psychological support zone of 7000.. While Global cues, Quarterly results   and  Funds flow  are expected to broadly guide the market movement, based on the present market position , market can be expected to  be better during midsession and remain subdued towards close.

Nifty                               7230  -6

Review for Friday :: Bank Stocks Weak… Flat Close … … !!!

Market traded in a narrow range and closed flat for thd day while Bank stocks were the clear losers and Pharma, FMCG stocks gained smartly. 25 of Nifty stocks ended in the red and broader market too was flat  with Advance Decline ratio at about 1:1.1. Pharma, Media, FMCG, Infra dn IT indices gained while Bank Index lost considerably. Hind Unilever, M&M, NTPC contributed about 40 points to Nifty’s gain while HDFC Duo and ICICI Bank dragged down by about 30 points.

 Hind Unileer, NTPC, M&M, Sun Pharma , Cipla   remained major gainers  among Nifty stocks while Bank of Baroda, BPCL, Power Grid, SBI and HDFC  remained   losers.
Adani Ports, Hind Unilever, Adani Enterprises, Tata Communication      remained major  gainers  among F&O stocks while REC, PFC, Bank of Baroda, Orient Bank, Allahabad Bank   declined among F&O stocks. 


The benchmark Sensex today fell 17 points weighed down by losses in banking shares ahead of GDP data and next month's RBI policy, logging its worst weekly drop since January 31. Market sentiment has remained weak as overseas investors have remained net sellers for the past few sessions and in absence of any positive trigger, brokers said. Indices, which started the day on a positive note, turned volatile ahead of the announcement of RBI monetary policy on June 3. There was also caution ahead of first quarter's Gross Domestic Product (GDP) data, brokers added. "Investors preferred to remain on sidelines ahead of GDP data, scheduled to be released later in the day and RBI policy review next week," said Jayant Manglik, President-retail distribution, Religare Securities. The BSE 30-share barometer resumed better and gyrated in a range of 24,353.59 and 24,163.62, before settling at a fresh two-week low of 24,217.34 -- a loss of 16.81 points or 0.07 per cent. At the day's high, the index was up over 119 points. On a weekly basis, the Sensex fell 476.09 points. This was its biggest loss since the week ending January 31, 2014 when it had weakened by 619.71 points. For the month, the Sensex gained a whopping 1,800 points -- logging its best monthly performance in recent times. The 50-scrip NSE index Nifty today ended lower by 5.70 points, or 0.08 per cent, at 7,229.95. Intra-day, it moved between 7,118.45 and 7,272.50. Banking shares like Bank of India, Canara Bank, Bank of Baroda, SBI, PNB, HDFC Bank, Indusind Bank, Axis Bank and Federal bank closed down. Nine out of 12 counters from S&P BSE Bankex finished in the red ahead of RBI policy on June 3. The Bankex was down by 273.77 points, or 1.59 per cent, and was the second biggest loser among sectors. The Consumer Durables index was top loser with a fall of 1.78 per cent. Besides, Tata Motors, RIL and TCS also suffered losses. Shares of HUL, M&M, NTPC, Dr Reddy's Lab, Infosys, ONGC, Bharti Airtel, Tata Steel, Cipla, Tata Power and Gail, however, ended higher.


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Stock markets ended on a flat note on Wednesday, just below their record highs, but finished Samvat 2073 with robust gains of over 16 per cent. Equities added over Rs 25 lakh crore to investors' wealth this Samvat year. The benchmark Sensex has gained 4642.84 points, or 16.61 per cent, in the Hindu Samvat year 2073, while the broader NSE Nifty surged 1572.85 points, or 18.20 per cent during this period.
Small loss in last session
In the last session of the Samvat 2073 on Wednesday, the 50-share Nifty fell by 23.60 points or 0.23 per cent to close at 10,210.85 after moving between 10,175.75 and 10,236.45. The Sensex resumed lower at 32,518.56 and fell further to a low of 32,462.85 before ending at 32,584.35, down 24.81 points or 0.08 per cent. Investors adopted a cautious approach ahead of the long Diwali weekend, while a weak rupee too affected sentiment, brokers said.
- Axis Bank emerged as the worst performer among Sensex components, tumbling 9.52 per cent following a spike in ba…


The Aditya Birla group has entered the top valuation league with a market cap of over USD 50 billion post listing of financial services arm Aditya Birla Capital (ABCL), but Tatas remain on top with over USD 132 billion.
The combined market valuation of the Kumar Mangalam Birla-led listed companies stood at Rs 3,42,354.87 crore (USD 53.5 billion) at the end of Friday's trade.
Among various listed companies of the group, UltraTech Cement's valuation stood at Rs 1,10,097.70 crore at the end of Friday's trade while that of Grasim Industries was Rs 76,881.73 crore.
The newly-listed Aditya Birla Capital's market capitalisation was over Rs 55,000 crore, Hindalco (Rs 54,607.09 crore), Idea Cellular (Rs 32,064.91 crore), Aditya Birla Fashion and Retail (Rs 13,155.73 crore) and Aditya Birla Money (Rs 547.71 crore).
Among Indian conglomerates, the Tata group remains on the top in terms of total valuation of listed firms with about Rs 8,46,567 crore (USD 132.5 billion).
There are 29 pu…