The market continued to be in consolidation mode with the Sensex rising 87.77 points to 27600.03 and the Nifty up 27 points at 8376.45. About 1147 shares have advanced, 1533 shares declined, and 136 shares are unchanged on the BSE.
Tata Power jumped nearly 4 percent after strong earnings in Q1. It turned profitable during the quarter, reporting net at Rs 241.3 crore against loss of Rs 111.3 crore in same quarter last year. Revenue jumped 6 percent year-on-year to Rs 9,234.6 crore.
Metals stocks extended losses in afternoon trade with the Vedanta falling nearly 6 percent followed by Tata Steel with 5 percent loss. The recent market weakness can be attributed to China, policy logjam (GST) and the slow pickup in the earnings cycle, says Vikas Khemani, CEO, Edelweiss Securities. However, he says India has a unique story and these kinds of falls or dips should be used definitely as an opportunity to build equity play portfolio from a medium-to-long-term perspective.
For Quick Trial – 8962000225 ✔
or mail us here: info@ways2capital.com
or visit http://www.ways2capital.com
✆ - 0731-6554125 | Toll Free - 1800-3010-2007
Give a Missed Call for Free Trial - 09699997717
0 comments:
Post a Comment