BUDGET HOLDS KEY
Nifty closed below 7600 mark and closes below 20DMA. Budget
proposals hold the key for Thursday’s market. 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 witness zigzag movements with huge movements on either /
both sides.
Nifty
Review for Wednesday,
09th July , 2014 :: Bearish Bias
Continues … !!!
After the big Down day of Tuesday, market closed with a half
percent cut on Wednesday as bearish bias continues. 32 of Nifty stocks end in
the red and broader market too was negative with Advance Decline ratio at 1:4.
Barring FMCG and Energy which closed in the positive, all other sectoral
indices ended in the negative territory led by Auto, Realty, Infra and IT. TCS,
Tata Motors, Infy and L&T dragged down Nifty by about 20 points while ITC
and ONGC contained the loss by about 15 points.
ONGC, BPCL, IDFC, ITC remained gainers among Nifty stocks while Jindal Steel, Tata
Motors, Tata Power, Coal India remained
major losers.
Hind Petro, IOC, Hind Zinc, Adani Ports, Titan remained gainers
among F&O stocks while Apollo Tyres, Aurobindo, Ashok Leyland,
Crompton Greaves, IDBI declined among
F&O stocks.
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