INSUBCONTINENT EXCLUSIVE:
Reliance, Axis Bank, ICICI Bank were among main contributors to the losses in Sensex.The domestic stock market opened on a flat note on
Thursday after investors turned cautious ahead of August futures and options expiry today amid mixed cues from other Asian markets
little comfort from an apparent easing in business tensions in North America and Europe.According to analysts, the rupee hitting a new
record low of 70.82 against the US dollar and surging global crude oil prices too dampened trading sentiments today.Main losers on Sensex
pack in the morning session were ICICI Bank (-0.48%), Kotak Bank (-0.59%), Axis Bank (-0.74%), Reliance (-0.81%), YES Bank (-0.89%) and SBIN
(-2.33%), IOC (-1.50%), Axis Bank (-1.27%), Tech Mahindra (-1.03%) and Reliance (-0.97%)."We may see the further escalation in the Nifty
chart towards intermediate trend line
The first line of defense is placed near 10600
Structural strength is still intact on the benchmark indices
Ahead of the expiry, volatility may prevail into the market
As it oscillating in the tight range of 27,700 on the south and 28,400 on the north", said Dyaneshwar Padwal, AVP Technical Analyst
KIFS Trade Capital.Globally, oil prices inched up on Thursday, extending solid gains from the previous session on a fall in US crude
inventories and expected disruptions to supply from Iran and Venezuela.Domestic institutional investors (DIIs) bought shares worth a net of
Rs 1,114.36 crore, while foreign portfolio investors (FPIs) sold shares worth a net of Rs 1,415.87 crore on Wednesday, provisional data
(+0.74%), Bharti Airtel (+0.73%), Sun Pharma (+0.70%) and Wipro (+0.69%)
UPL (+2%), Power Grid (+1.37%), ITC (+1.26%), Bharti Airtel (+1.13%), Sun Pharma (+0.93%) led the pack of Nifty gainers.On Wednesday,
domestic markets closed on a negative note
BSE benchmark index Sensex closed at 38,722.93, while the broader NSE Nifty50 settled at 11,691.90
