After the bruises on Wednesday, the market opened in green
territory today. The Sensex is up 74.11 points at 22398.01, and the Nifty is up
17.35 points at 6669.90. About 313 shares have advanced, 81 shares declined,
and 16 shares are unchanged. Cipla, Bajaj Auto, BHEL, Sesa Sterlite and
Hindalco are top gainers in the Sensex. Among the laggards are Maruti, HUL,
Hero Motocorp and TCS.
The Indian rupee advanced in the early trade. It opened
higher by 18 paise at 59.95 per dollar versus 60.13 Wednesday. The dollar index
is hovering around 79.20 levels. Against the euro it was steady near 1.39.
In other asset classes, the dollar index is hovering around
79.20 levels against the euro trading steady near 1.39.
Nymex crude oil prices
rose after a government report showed an unexpected sharp drop in inventories
in the US. Brent Crude too gained. From precious metals space, gold was trading
steady after slipping almost 2 percent on Wednesday as investors took profits
from a run-up spurred by geopolitical concerns.
CapitalHeight’s stock recommendation for 08/05/2014 is HCL
Tech Ltd. From last few days, it has been consolidated with down trend. In
today’s trading session, it was down by 4.51%. On the daily chart, it formed
“Head & Shoulder” pattern and has given breakout with good volume. Momentum
indicator stochastic is also trading in negative territory.
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