Markets Tanks Nearly 1% to End at 3-month Low

Market Wrap-up:

Markets tanks nearly 1 percent to end at 3-month low.

After a weak opening, markets bounced back & managed to wash away today day low and closed with smart gains on the back of favorable macroeconomic numbers and Buying in index heavyweights and positive European cues ahead of Draghi speech & Fed policy meet helped the market gain.


Wholesale price inflation (WPI) in India remained negative  fell for the 13th straight month in November, index coming in at -1.99% in November compared to -3.81%in October and versus a forecast of -2.59%.


  • IOC gains as plans to invest Rs 1.75 trn for expansion.
  • Infosys up 2 percent; invests USD 3 million in Whoop.
  • Tata Motors, M&M tanks on NGT’s Delhi order.
  • Just Dial tanks on Sequoia Capital sells stake.
  • DCB Bank slashes BPLR by 15 bps to 17.95%


  • IL&FS Engineering gains after wins new metro rail project in Gujarat worth Rs 3.75 billon.
  • Sugar stocks like Shree Renuka Sugars, Balrampur Chini Mills moved higher after government plans to increase cess.
  • Natco Pharma moved higher after gets nod from DCGI for generic Daclatasvir tablets for Hepatitis C.
  • NTPC ends on a flat to negative note on the media reports that co raises Rs.500 crore via private placement.
  • Jindal Stainless gains more than 10 percent today after government imposed anti-dumping duty on stainless steel imports.
  • Kalyani Forge rallied company plans to double turnover to Rs. 500 crore in the next 2-3 years
  • Global Offshore tanks in an positive market; sells Anchor Handling Tug cum Supply vessel.
  • Nalco shares up over 1% on BSE after reserving bauxite mines in Odisha.

                                                  TECHNICAL FRONT


  • After gap down opening Fortis EQ recovered from its day low and gains in the first half of day, expected to give breakouts of its today’s high. Buy above 180.30 targets 182.10/183.90/187.80 SL 178.

  • Trend of NCLIND EQ is Bullish and today stock closed near its resistance if sustain above this level fresh buying could be seen in stock. One can entre above 174.60 targets 176.30/178.10/179.90 maintain SL of 172.50.

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