11 March 2015

Tips for Today Intraday Market; Nifty holds 8700; Hindalco falls 4%

Today the intraday trading market remained in a consolidation mode. The 30-share BSE Sensex fell 50.12 points to 28659.75 and the 50-share NSE Nifty declined 13.80 points to 8698.25. The broader markets too fell marginally. About 1052 shares have advanced, 1387 shares declined, and 188 shares are unchanged on the Bombay Stock Exchange. The Indian rupee slipped to a fresh 2-month low following a steep rise in the dollar. The greenback surged to 12-year highs holding strong above 98.7 levels.
The Intraday market is flat with some positive bias. The Sensex is up 25.04 points at 28734.91, and the Nifty is up 4.95 points at 8717.00. About 1144 shares have advanced, 1109 shares declined, and 176 shares are unchanged. IT stocks led by Wipro and Infosys are top gainers in the Sensex. NTPC, HUL and M&M are other gainers in the Sensex. Among the losers are Hindalco, Sesa Sterlite, Cipla, Tata Motors and Sun Pharma.
Hindalco Industries topped the selling list on Sensex, down 4 percent as Kumar Mangalam Birla is named in the coal allocation scam case. Telecom stocks continued to be in focus as the spectrum auction entered day 7. The S&P BSE Sensex is trading cautiously in the face of a muted trend seen in other Asian markets. Jet Airways rallied over 6 per cent in intraday trade today.
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