GENERALLY BETTER WITH MID SESSION SUBDUED
Nifty closed with minor loss and below 7500 mark . However,
it recovered smartly from lower levels and the loss was contained. As Nifty had
already fallen for Two weeks, further loss could be limited before a rebound. Hence,
short positions at lower levels could be risky and scrip specific movements
need to be tracked. 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 generally better with subdued midsession and recovery
towards close.
Nifty
Review for Monday :: Recovery from Lower Levels
… FMCG stocks drag … !!!
Market fell sharply by midsession and recovered smartly to
close with minor losses. Main reason for the
loss is due to the sharp fall of ITC, which drag down the market. ITC
fell because of the likely hike of duties in the forthcoming Budget. 34 of
Nifty stocks gained and broader market too was positive with Advance Decline
ratio at 1.4:1. FMCG and IT indices declined while PSU Bank, Metal, Energy,
Auto and Pharma indices gained. ITC and Infy dragged down Nifty by more than
50 points while ONGC and ICICI Bank contained the loss by about 20 points.
ONGC, Jindal Steel, Hero Motors, BHEL and ACC remained major gainers among Nifty stocks while ITC, Kotak Bank, Mc
Doweel, Infy and HCL Tech remained losers.
Syndicate Bank, India Cement, Petronet, ONGC, Allahabad Bank remained major gainers
among F&O stocks while ITC, Kotak Bank, Rel Infra, Colpal, Infy declined among F&O stocks.
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