Investors give thumbs down to Union Budget 2019
Top Stocks To Watch On Monday 8 July 2019
YESBANK plunged by 8.42% and finished at Rs. 88.15. Meanwhile it maintained significant loss over a recent days. Trading volume increased by 117 percent at last session. There is an evidence of negative breakout. It is frequently grinding lowere levels for 4 days. It is trading below its recent support zone. The Near term resistance is seen around 141.
UPL is one among the top traded stocks. Yet most of the trades are settled intraday. It signals bearish breakout. Derivative traders were aggressive in adding short positions. Open interest increased by 8.44 %. It is steadily heading higher levels for 3 days. It is trading below its recent support zone. The Near term resistance is seen around 1030.
CANBK rose by 1.39% and finished at Rs. 291.15. Trading volume rose by 106 percent on 5 July 2019. However most of the trades are settled intraday. It is likely to witness bullish trend formation. It is frequently climbing for 3 days. This stock is currently settled above the recent resistance zone. We see short term support around 255.
IBULHSGFIN strengthen by 3.34% and ended at Rs.727.35. At the same time it maintained a considerable percent on the weekly basis. It is one among the top traded stocks. However most of the trades are settled intraday. It is steadily advancing for 3 days. It is oscillating nearer to its resistance zone of 736.
KOTAKBANK rose by 1.3% and closed at Rs.1517.2. It is one among the top traded stocks. Derivative traders were aggressive in adding long positions. Open interest surged by 4.19 %. This stock is currently settled above the recent resistance zone. We see short term support around 1459.
RELINFRA plunged by 6.4% and settled at Rs.51.15. Meantime it secured a considerable loss over a recent days. The technical indicator RSI signals overbought scenario.Currently it is trading around the lower range of its price band. The crucial support zone is around 44.
GMRINFRA volume spiked by 219 percent on Friday. But most of the trades are intraday in nature. The momentum of the sellers is visible through the todays gap.It is trading inside the trading range. The Support is seen around 14 and resistance is seen around 16.
ICICIPRULI witnessed Star pattern on daily chart. ICICIPRULI volume inflated by 227 percent at last trading day. There is an evidence of bullish breakout. This stock is currently settled above the recent resistance zone. We see short term support around 356.
BANKBARODA volume increased by 90 percent at last session. But majority of them are settled intraday. It gives an impression of bullish trend formation. This stock is currently settled above the recent resistance zone. We see short term support around 115.
TATASTEEL is listed in top traded counters. Derivative traders were aggressive in adding short positions. Open interest gained by 4.24 %. Currently it is trading around the lower range of its price band. The crucial support zone is around 473.
PEL advanced by 2.2% and closed at Rs.1991.85. It is the most active stock. Yet largely the volumes are intraday trades. It is trading inside the trading range. The Support is seen around 1796 and resistance is seen around 2153.
SIEMENS plunged by 7.22% and finished at Rs. 1259.6. Trading volume inflated by 172 percent at last trading day. Currently it is trading around the lower range of its price band. The crucial support zone is around 1229.
Closing Bell: Investors give thumbs down to Union Budget 2019
The NSE Nifty sank 135 points to 11,811 levels. The Indian headline index Nifty dropped over 1 per cent after the 2019 Budget presentation by the Union Finance Minister Nirmala Sitharaman today, July 05, 2019.
The selling was indiscriminate across most of the sectoral indices. While the Nifty Metals and Realty, both of which lost over 3.50 per cent in today’s trade, others such as Nifty Auto that fell 2.82% and Nifty IT index too was down nearly 2.5%. Nifty PSU Bank ended in the green as finance minister Nirmala Sitharaman announced that Rs 70,000 crore has been allocated for PSU bank recapitalisation in Budget 2019.
Meanwhile, Asian markets finished mixed as investors remained cautious ahead of a key U.S. jobs report.
Best And Worst Nifty 50 Performers Today
Market Update: Nifty tanks amid budget speech
Benchmark index nifty slipped below 11,900 mark as Finance Minister Nirmala Sitharaman presented the Budget 2019 in the Parliament. All the Nifty sectoral indices except Nifty FMCG were trading in the red. Nifty Metal index, down 1.37 per cent, took the deepest cuts, followed by Nifty Realty and Nifty IT, both down over 1 per cent.
Morning Update: Nifty trades near 12,000 mark ahead of Union Budget 2019 speech
The broader Nifty50 trades at 11,970 level, with a gain of 24 points. Indian benchmark index nifty were trading around 12k ahead of the Union Budget presentation by Finance Minister Nirmala Sitharaman. Eight of 11 sector gauges compiled by NSE were trading higher led by the Nifty Realty Index’s 0.70 per cent gain. Capital Goods and Finance sector gauges also rose between 0.3 and 0.5 per cent respectively. On the other hand, Nifty Metal Index was top loser, down 0.3 per cent.
Infratel, India bulls housing, IndusInd Bank, L&T and JSW Steel were among the top gainers on the Nifty50 in the morning trade trade, whereas Yes Bank, ONGC, NTPC, Vedanta, Sun Pharma and IOC led the losses.
The market breadth was tilted in favour of buyers. About 874 stocks advanced and 617 shares declined on National Stock Exchange.
Meanwhile, The foreign institutional investors (FIIs) sold shares worth Rs 28.95 crore on a net basis, while domestic institutional investors (DIIs) bought shares worth Rs 58.59 crore as on July 4th 2019.
Top News Of The Day
Budget Mania Starts Today
- All eyes are on Nirmala Sitharaman, who has the tough task of presenting a Budget that stimulates the economy while keeping the taxpayer happy today.
IIFL Raises Money
- IIFL Finance has been able to get easy funding from banks and multi-lateral financial institution when several non banking finance companies are struggling to raise money .
- IIFL has been able to secure long term funding of about Rs 3,000 crore from the government and private banks.