Sensex hits 40k; dips 1,314 pts from high by close; Nifty holds 11,650
During the day, Sensex and Nifty hit the levels of 40,000 and 12,000, respectively, for the first-ever time
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11:02 AM
MARKET COMMENT :: Romesh Tiwari, Head of Research, CapitalAim
Markets are expected to trade in a wide range of 2-3% before the trends of results, in the afternoon, comes out. Consensus on the big upward rally on the victory of BJP lead NDA can be used for unwinding long positions on market heavyweights like Reliance, HDFC, SBI etc. If early trends suggest BJP winning, then the markets may make new highs and the rally we have seen on Monday will continue.
In that case Sensex can attempt to cross 41,500 and Nifty 12,300 and we can see profit booking at that level. Reaction of Midcaps and SmallCaps will be interesting to see as they are trading at better valuations than market heavy weights. On the other hand, if early trends show unfavorable for BJP then market can slide give up all the recent gains and heavy correction may set in for short term. In such a scenario, Sensex can slide to below 38,000 and Nifty below 11,000 very swiftly. In any case market may turn very volatile once the trends of results start coming over
In that case Sensex can attempt to cross 41,500 and Nifty 12,300 and we can see profit booking at that level. Reaction of Midcaps and SmallCaps will be interesting to see as they are trading at better valuations than market heavy weights. On the other hand, if early trends show unfavorable for BJP then market can slide give up all the recent gains and heavy correction may set in for short term. In such a scenario, Sensex can slide to below 38,000 and Nifty below 11,000 very swiftly. In any case market may turn very volatile once the trends of results start coming over
11:01 AM
Apollo Tyres rises nearly 3%
11:01 AM
EXPERT COMMENT | Markets @40k: Views from Motilal Oswal, CMD, MOFSL
This is a new beginning not only for the markets but for the whole country. India is on the way to be a super power leading the world.
10:58 AM
IndusInd Bank surges 18% from Wednesday's low post Q4 results
IndusInd Bank shares surged 8 per cent to Rs 1,640 in early trade on Thursday, recovering 18 per cent from Wednesday's low of Rs 1,386, on the BSE on expectation that the bank would return to normalcy in terms of earnings momentum after the entire exposure to IL&FS was classified as non-performing asset (NPA) in the fourth quarter of fiscal 2018-19 (Q4FY19). READ MORE
10:55 AM
Derivatives update by Prabhudas Lilladher
Bank Nifty for today's expiry witnessing 3100PE aggressively adding positions. PCR_OI at 31000 nearing 1, which implies expiry levels near this levels. PSUBANK counter looking strong for a TGT of 3450-3500 now.
10:55 AM
Biggest risk factor for Indian equities is oil prices: Mark Mobius to CNBC TV18
10:54 AM
Sushma Swaraj thanks Narendra Modi for BJP number
10:53 AM
Top sectors Mark Mobius is currently bullish on : Cement, Pipes and Cables
10:52 AM
Most PSU stocks lost ground under the UPA II and NDA governments
Public sector enterprises are back on the government’s radar after it was learnt that the Ministry of Finance’s Department of Investment and Public Asset Management (DIPAM) has been examining plans to launch three equity exchange-traded funds (ETFs) in the current fiscal year after the formation of the new government. READ MORE
10:50 AM
NEWS ALERT | NDA set for biggest mandate since 1984
10:50 AM
Hindustan Petroleum rises over 5%
10:49 AM
NEWS ALERT | Rahul Gandhi leads by over 1 lakh votes in Wayanad
10:48 AM
NEWS ALERT | India VIX eases 28%
10:47 AM
Nifty Bank gains over 1,000 points
10:42 AM
EXPERT REACTION | Radhika Gupta
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First Published: May 23 2019 | 6:58 AM IST
