Use this space to put some text. Update this text in HTML

www.bigprofitbuzz.com. Powered by Blogger.
There was an error in this gadget

Thursday, 27 November 2014

Nifty hovers around 8470; ITC & HDFC drag, Hindalco up 4%

01:20pm Gold declines

Gold dipped for a second session today, holding below USD 1,200 an ounce, as outflows resumed from the top bullion exchange-traded fund and traders remained cautious before an upcoming Swiss referendum on central bank bullion assets.

A weaker dollar after lacklustre US data, however, checked losses in gold which is seen as a safe-haven asset.

Spot gold slipped 0.1 percent to USD 1,195.90 an ounce by 0253 GMT, but trading is expected to be thin with the US markets closed for Thanksgiving.

The metal dipped 0.3 percent on Wednesday as bearish market sentiment offset a drop in the US dollar, reports Reuters.

01:00pm Market Check

The 50-share NSE Nifty continued to hover around 8470 level, down 7.45 points to 8468.30 on the day of expiry of November derivative contracts. The 30-share BSE Sensex fell 34.99 points to 28351.20.

The BSE Midcap and Smallcap indices gained 0.4 percent and 0.5 percent, respectively. About 1416 shares advanced while 1276 shares declined on the Bombay Stock Exchange.

It is time for retail investors to increase exposure to equities as the economy is likely to see a structural improvement over the next 2-3 years, feels Krishna Kumar Karwa, Managing Director, Emkay Global.

He says investors should invest regularly and not try to time the market.

Aluminium major Hindalco Industries topped the buying list, up 4 percent followed by Infosys, Hindustan Unilever, Sun Pharma, Mahindra & Mahindra and BHEL with 1-2 percent gain.

However, Shares of ITC, HDFC, Tata Motors, Bharti Airtel and Sesa Sterlite saw selling pressure, down 1-2 percent. L&T, HDFC Bank, Axis Bank, Reliance Industries and State Bank of India fell marginally.

Among midcaps, Motilal Oswal, Kalpataru Power, Jet Airways, Gujarat State Petronet and Strides Arcolab rallied 4-12 percent while Crompton Greaves, Anant Raj, Sundaram-Clayton, HCC and Gujarat Pipavav slipped 2.5-5 percent. More information please visit this site www.bigprofitbuzz.com

No comments:

Post a Comment