The market today witnessed an extremely choppy trading day. The benchmark indices swing between gains & losses ahead of the announcement of India’s GDP rate for the second – quarter.
The Sensex ended 110 points (0.25 per cent) lower at 44,149, while Nifty lost 18 points (0.14% per cent) and closed at 12,969.
1,717 shares have advanced, 1,039 shares declined & 172 shares are unchanged. Nifty’s major gainers for the day were Britannia, Asian Paints, Tata Motors, Hero MotoCorp & Titan Company, while the top losers include Power Grid, JSW Steel, ONGC, HCL Tech and HDFC Life.
On the sectoral front, Auto & PSU bank indices added 1 per cent each, while BSE small-cap & mid-cap index gained 2 per cent each. On the other hand Infra, IT & Energy stocks witnessed selling pressure today. All sectoral indices except Nifty IT end in the green today.
Author’s View: Nifty seems to be in a consolidation phase after a long one-way rally from 12,000 to 13,000 level. The trend will remain positive till Nifty trades above 12,800 level. Every dip can be used as a buying opportunity and 13,000 – 13,050 level can be used as a profit-booking zone.
Disclaimer: The view/s expressed above are only for educational/awareness purpose. Mumbailive.com or the author of the post bears no liability for any losses suffered by following any advice posted on the website. You are solely responsible for making your own investment decisions.
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