Daily share market update

NIFTY fell for the sixth straight day registering longest losing streak in a month. The 50-share NSE index NIFTY fell 0.93% to finish at 10154.20 on Wednesday. The Indian benchmark index NIFTY tumbled for a sixth straight session, their longest losing streak in a month owing to sustained selling in banking and financial stocks. The sentiment remained dampened as investors are freshly concerned over rising crude oil prices and also by a widening probe into the Punjab National Bank’s fraud.

Looking overseas, European markets trading lower tracking Asian markets which finished broadly lower on Wednesday. The Global markets struggled as fears of a global trade war resurfaced after the resignation Gary Cohn U.S. President Donald Trump’s top economic advisor and also a key advocate for free trade in the White House. 

Ten out of eleven sector gauges compiled by the NSE ended lower led by NIFTY PSU BANK, NIFTY PHARMA, NIFTY FIN SERVICE, NIFTY BANK, NIFTY METAL, NIFTY PVT BANK and NIFTY REALTY as top losers. On the other side, NIFTY FMCG is the only gainers.

From the NIFTY 50 basket of shares, ADANIPORTS, SBIN, IBULHSGFIN, BHARTIARTL, ICICIBANK, AMBUJACEM, HINDPETRO, RELIANCE, and ONGC underperformed as top losers while HCLTECH, ITC, ZEEL, and MARUTI are top gainers.

Perfect list of stocks to add to your watchlist on 8 Mar

CANBK: This stock plunged by 6.9% and settled at Rs.249.451 on Wednesday. This stock registered a remarkable loss in last five sessions as it regularly breaking low for 3 days. This stock is trading below its recent support zone and the near term resistance is seen around Rs.329.

JPASSOCIAT: This stock plunged by 8.39% and ended at Rs.14.75 on Wednesday. This stock maintained significant decline on the weekly basis as it frequently breaking low for 4 days. This stock is trading below its recent support zone and the near term resistance is seen around Rs.20.

OFSS: This stock climbed by 1.75% and to close at Rs.3829.6 on Wednesday. This stock trading volume hiked by 88% with 71% of the trades gone for delivery. This stock is currently trading around the lower range of its price band and the crucial support zone is around Rs.3788.

ADANIENT: This stock plunged by 7.52% and settled at Rs.172.2 on Wednesday. This stock trading volume hiked 2.5 times with the majority of intraday trades. This stock is currently is trading below its recent support zone and the near term resistance is seen around Rs.220.

ANDHRABANK: This stock plunged by 7.85% and to close at Rs.39.3 on Wednesday. This stock trading volume hiked 1.5 times with the majority of intraday trades. This stock is currently is trading below its recent support zone as it continuously breaking low for 3 days and the near term resistance is seen around Rs.220.

ITC: This stock rose by 1.33% and finished at Rs. 259.9 on Wednesday. Derivative traders were aggressive in exiting short positions and the Open interest reduced by 2.07%. This stock is currently is trading below its recent support zone as it continuously breaking low for 7 days and the near term resistance is seen around Rs.278.

KTKBANK: This stock plunged by 8.01% and ended at Rs.117.65 on Wednesday. This stock trading volume hiked 3.5 times with the majority of intraday trades. This stock is currently is trading below its recent support zone as it is steadily breaking low for 3 days and the near term resistance is seen around Rs.140.

BEML: This stock plunged by 5.04% and settled at Rs.1195.75 on Wednesday. This stock trading volume hiked by 70% with a majority of intraday trades. This stock is currently is trading around the lower range of its price band and the crucial support zone is around Rs.1176.

IBULHSGFIN: This stock is one of the top traded stocks on Wednesday. Derivative traders were aggressive in adding short positions and the Open interest gained by 3.95%. This stock is currently is trading below its recent support zone and the near term resistance is seen around Rs.1343.

ADANIPORTS: This stock by 6.98% and to close at Rs.376.95 on Wednesday. This stock trading volume hiked by 1.5 times with the majority of intraday trades. This stock is currently below its recent support zone and the near term resistance is seen around Rs.419.

IDFC: This stock trading volume hiked by 61% with 58% of the trades is deliverable volume at last trading session. This stock is currently trading below its recent support zone as it is regularly breaking low for 3 days and the near term resistance is seen around Rs.55.