Benchmark indices ended
Friday's session with marginal cuts after erasing its intraday gains in the
final hour. IT stocks were
the top drags and remained subdued throughout the day after the US-based IT
services company Cognizant nearly
halved its 2019 growth guidance. The intra-day rise in
the indices was spurred by a slip in oil prices with financial stocks gaining the most, before the indices
retreated to trade flat in the end.BUZZING
STOCKS Information technology (IT) stocks remained under pressure on Friday, after the
US-based IT services company Cognizant nearly halved its 2019 revenue expectations after missing
first-quarter results, as it faces sluggish demand in its financial and
healthcare businesses. Shares of Mills continued their
northward journey, with the stock hitting 18-month high of Rs 157 before ending
the day at Rs 156.50, up 1.69 per cent, on the expectation of strong earnings
growth. The stock was trading at its highest level since December 6,
2017.
Friday, May 3, 2019
Thursday, May 2, 2019
STOCK MARKET SUMMARY OF 02 MAY 2019
Benchmark indices ended
a volatile session marginally lower on Thursday with IT and Pharma stocks
dragging the indices down.The Sensex dropped 50 points, to finish at 38,981 levels,
with TATA Motors, ICICI Bank, IndusInd Bank, Infosys and HCL Tech among the biggest losers. Of the 30
constituents, 15 ended the day in green while as many were painted red.Nifty50 failed to hold the 11,750 level and closed at 11,725 levels, down 23
points, or 0.20 per cent. About 1,053 shares advanced, 1,442 shares
declined, and 163 shares remained unchanged. BUZZING STOCKS Ashok Leyland
gains 4% post April sales number, credit rating upgradeBiocon nears 52-week
low, falls 5% after reporting mixed numbers in Q4
Escorts shares dipped almost 8 per cent to Rs 58.90 after the farm equity
major reported a 15 per cent decline in tractor sales to 5,264 units in April
2019. The company had sold 6,186 tractors in the same month last year.
Wednesday, May 1, 2019
STOCK MARKET REVIEW
The target for Sensex at 44,000 by March 2020
(12 percent upside), and any kind of sell-off (around 5 percent or more)
should be providing an interesting entry point into equities, Nitin Rao, CEO,
Reliance Wealth Management.
The countdown has already started for election results, which are scheduled to
be announced on May 23.There are four possible scenarios which investors
can look out for and accordingly devise their trading strategy. According to a
report by IIFL, the first possible scenario is BJP winning with an absolute
majority.Buzzing stock B M Khaitan Group companies plunge on bourses after
ratings downgrade.NBFC stocks: Catching the falling knife could be tricky amid
fresh concerns.Mindtree's Q4 casts doubts on immediate gains for L&T from
the buyoutMaruti Suzuki India's
decision to phase out diesel cars by April 2020 is, very simply, a textbook
example of internalising the true environmental and social costs of an
industry. Maruti's decision is also emblematic of how the right combination of
crucial factors can drive change that has previously seemed impossible.
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