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Monday, 13 October 2014

Sensex recovers, Nifty hits 7850; Infosys at new high

Equity benchmarks recovered in afternoon trade supported by metals, technology and select banking and financials stocks. The Sensex declined 27.94 points to 26269.44 and the Nifty slipped 5.55 points to 7854.40. 

About 1207 shares have advanced, 1473 shares declined, and 108 shares are unchanged. 

Dipan Mehta, member, BSE and NSE sees the market moving in a narrow band, which is not good for any bull market. 

He has a negative to cautious outlook on the market. He cautions investors not to conclude that support will be at 7800. He says global headwinds and domestic macro numbers will play on the minds of the investors and traders. 

Infosys topped the buying list, up 2.2 percent to hit a record high of Rs 3,975.50 after brokerages raised target price on the stock on strong Q2 earnings. TCS, Axis Bank, Hero Motocorp, Tata Steel, Coal India and Tata Power gained 1-2 percent followed by HDFC, SBI, Hindalco Industries and Sesa Sterlite with 0.4-0.9 percent upside. 

However, Cipla, Bharti Airtel and Mahindra and Mahindra kept top position in the selling list, down 2-4 percent. L&T, ITC, Dr Reddy's Labs, Sun Pharma, NTPC and Wipro slipped 0.5-1.8 percent. More information please visit this site

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