Daily Market Roundup

NIFTY tumbled the most in two weeks amid intensifying Global Trade War fears. The 50-share NSE index NIFTY fell 1.14% to finish at 10128.40 on Wednesday. The Indian benchmark index NIFTY snapped its two-day winning streak, erasing earlier gains and fell most in two weeks dragged down by weakness in banking and metal shares. The sentiment at traders and investors’ desk remained weak ahead of Reserve Bank of India’s two-day policy review beginning today to decide interest rates and on renewed fears of a global trade war.

Looking overseas, European markets trading lower tracking Asian markets which finished broadly lower on Wednesday. The Global markets fell sharply today after China announced a list of U.S. products that might be subject to a 25% tariff, in an escalation of trade tensions between the world’s two biggest economies.

Ten out of eleven sector gauges compiled by the NSE ended lower led by NIFTY METAL, NIFTY MEDIA, NIFTY PSU BANK, NIFTY BANK and NIFTY PVT BANK as top gainers. On the flip side, NIFTY AUTO is the only gainer.

From the NIFTY 50 basket of shares, UPL, VEDL, TATASTEEL, HINDALCO, TITAN, BAJAJFINSV and BPCL underperformed as top losers while TATAMOTORS, EICHERMOT, HINDUNILVR and BAJFINANCE are top gainers.

Top stock picks for Thursday 5 April

TATAMOTORS: This stock gained by 3.64% and finished at Rs.355.6 on Wednesday. This stock trading volume inflated 249% with numerous intraday trades. The momentum of the bulls is visible through the opening gap appeared in the daily chart. This stock is regularly advancing for 3 days and currently oscillating nearer to its resistance zone of Rs.360.

RPOWER: This stock surged by 11.56% and to close at Rs.42.45 on Wednesday. This stock trading volume inflated 8 times with numerous intraday trades. This stock is currently settled above the recent resistance zone and the short term support is around Rs.36.

PCJEWELLER: This stock plunged by 4.75% and ended at Rs.298.6 on Wednesday. Derivative traders were aggressive in adding short positions and the Open interest gained by 12.69%. This stock is trading below its recent support zone and the near term resistance is seen around Rs.378.

JPASSOCIAT: This stock witnessed Bearish Engulfing pattern as it plunged by 4.43% and finished at Rs.19.4 at last trading session. This stock is oscillating nearer to its resistance zone of Rs.22.

IBULHSGFIN: This stock trading volume inflated 121% with 57% of the trades are taken for delivery at last trading session. This stock is currently settled above the recent resistance zone and the short term support around Rs.1185.

EICHERMOT: This stock strengthened by 3.37% and to close at Rs.28934.25 on Wednesday. This stock trading volume inflated 137% with numerous intraday trades. The momentum of the bulls is visible through the opening gap appeared in the daily chart. This stock is currently settled above the recent resistance zone and the short term support around Rs.27309.

DLF: This stock is one of the top traded stocks with numerous intraday trades at last trading session. This stock is trading below its recent support zone and the near term resistance is seen around Rs.227.