Friday, August 14, 2020

AUTO STOCKS PULLED DOWN NIFTY

SELL AXIS BANK FUTURE
BELOW 425 TARGET 417/403
STOPLOSS 435


Market ended a week of consolidation with losses, as benchmark indices continued to face pressure at higher levels. Today weak global signals put pressure on the market today. Sensex-nifty closed today with a steep decline, sensex  fallen 419 points to close at 37891. At the same time, the nifty  fallen 117 points to close at 11184 & bank nifty fallen 531 points to close at 21665. Banknifty  index to fell over 2% in today's trading session. Auto and psu banks were the top laggards in today's session with both the indices ending lower by 2.5% each. The top three laggards were in auto stocks, namely eicher motors (down 7.1%), tata motors (down 4.8%) and m&m (down 3.3%). The auto index snapped an eight-day gaining streak.
TOP GAINERS-JSWSTEEL,COALINDIA,CIPLA,TITAN,INFY,TATASTEEL
TOP LOSERS-TATAMOTORS,M&M,SBIN,ITC,AXISBK,HDFCBK,BPCL

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