Daily market roundup
NIFTY starts the week with the record-setting run. The 50-share NSE index NIFTY rose 0.55% to finish at record closing high of 11130.40 in the first trading session of the week. The wider NIFTY started the week crossing 11150 marks for the first time after the economic survey released earlier in the day projected economic growth at 7.0-7.5 % in the year starting in April, up from a projected 6.75% for the current fiscal year, making India once again the world’s fastest-growing major economy. The next major trigger for the market is Union Budget 2018-19, which will be presented by the Finance Minister Arun Jaitley in the parliament on Thursday, 1 February 2018.
Looking overseas, European markets trading mixed following Asian markets which finished mixed after the upbeat open on Monday. Global equities yet to find direction as investors are looking ahead to the Federal Reserve decisions on monetary policy coming Wednesday.
Among sector gauges compiled by NSE, NIFTY AUTO, NIFTY IT, and NIFTY FIN SERVICE are the top sectoral gainers while NIFTY PHARMA, NIFTY PSU BANK, and NIFTY FMCG are the top sectoral losers.
From the NIFTY 50 basket of shares, EICHERMOT, MARUTI, HDFC, UPL, INFRATEL, and TCS outperformed as top gainers while DRREDDY, LUPIN, GAIL, and BHARTIARTL are the top losers.
Top stocks to watch on Tuesday 30 Jan
HDFC: This stock maintained an exceptional gain over a recent day and gives an impression of a positive breakout. This stock is the most active stock as it advanced 3.11% and closed at Rs.1967.60. This stock is currently settled above the recent resistance zone and the short term support is around Rs.1650.
BHARTIARTL: This stock is regularly sliding for past 3 days on the back of the increased trading volume. This stock fell 2.67% to 50% of the trades are intraday at last trading session. This stock is currently trading inside its range at Rs.440.60 and it is likely to witness further bearish rally.
EICHERMOT: This stock surged 3.52% on the back of delivery volume which is 50% of the total trading volume. This stock did rise in the last trading session but fell regularly in the weekly basis. This stock is currently trading inside its range at Rs.27453.65.
MARUTI: This stock advanced by 3.80% to close at Rs.9630.70 at last trading session. This stock is listed in top traded counters as it trading volume inflated by 179%. This stock is currently trading inside the trading range and the support & resistance zone is around Rs.9000 & Rs.10000 respectively.
DRREDDY: This stock plunged by 6.01% on the back of increased trading volume at last session. The aggressive nature of bears is recognized by the unfilled gap witnessed in the daily chart. This stock is currently settled inside the trading range at Rs.2537.10.
HINDPETRO: This stock is regularly sliding for past few days on the back of the increased trading volume. This stock fell 2.34% to 50% of the trades are intraday at last trading session. This stock is currently trading inside its range at Rs.375.15
VEDL: This stock fell 0.17% and to close at Rs.345.00 in the last trading session. This stock delivery volume is almost equal to the total trading volume. This stock currently settled above the recent resistance zone and the short term support zone is at Rs.280.