Thursday, February 13, 2020

WEAKNESS SEEN ON BANKNIFTY EXPIRY

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Weakness has been witnessed in the market on Weekly Expiry.  Nifty ended below 12200 level & braked at a fast of 2 days. Sensex fallen 106 points to close at 41460 today. At the same time, the Nifty  fallen 27 points to close at 12175 while the banknifty fallen 263 points to close at 31230.Nifty was trading close to 12150 on Weekly Expiry.Banknifty lost 300 points due to the fall in private banks. But the market was getting support from public sector banks. Bank Nifty broke resistance for the day in first 5 min and traded above 31466 for most part of the day. It made a top around 31588 but low volumes at higher prices pushed it back near resistance for the day. IndusInd Bank, ICICI Bank, NTPC, Tata Steel and Kotak Mahindra Bank were among major losers on the Nifty, while gainers were Yes Bank, Dr Reddy’s Lab, Zee Entertainment, Titan Company and SBI. IndusInd Bank was the top Sensex loser, down 3.43 %. Among sectors, IT, pharma, FMCG and PSU bank ended higher, while metal, auto, infra and energy ended lower. BSE Midcap and Smallcap indices ended on flat note.
RESULTS-IBULHFIN,IRB,RELIANCE,SUNTV
TOP GAINERS- YESBANK, DRREDDY, ZEEL, SBIN, TITAN
TOP LOSERS- INDUSINDBK, ICICIBANK, HDFC,AXISBANK

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