New Delhi: Nifty continued its uptrend pattern on Thursday. In its process, Nifty50 reclaimed it 10,800 zones by forming an inside bar on the daily chart. The next resistance to be break is in 10,847-10,884 points. While the immediate support is in the range of 10,690-10,700.
The merging area of two major indicators finally proved a firm resistance ahead for Nifty, which recorded some major correcting from higher levels. Nifty gave quite a start to the session, trading in a defined range without any directional bias for the day until its last hour when Nifty gave up and started unwinding of positions. It brought the index down from its high point of the day by 150 points and the Bank Nifty by 550 points. At last, Nifty closed with 0.87 per cent or 93.90 points loss.
Mumbai: The Nifty50 and Sensex have rallied 40 per cent from March lows, covering losses of the last 3 and a half months, but if we look at it closely; out of the BSE 500 index stocks, majority of stocks are still trading below their 200 DMA (Daily Moving Average). This indicator show that the equity market rally has totally based on a smaller set of stocks.
The mechanism of trading via using shares as collateral is soon to be changed in the coming August 2020. Exposure to wanting investors through Demat holding will now have to pledge their holding to the broker as to trade against the current mechanism where investors’ shares are physically transferred from the investor’s Demat account to the broker’s collateral account.
Jefferies India Pvt quote,” Indian investors may address assets such as property and gold (physical by nature) or dividend-yielding stocks as real interest rate hit first time lowest since 2013 because of the excess of liquidity”.
In recent times, equity investors are found to be in a whirlwind of emotions due to psychologically challenging times and negative development. This is not affecting just the inner peace of investors but also their investing journey approach. During the course of lockdown, investors’ sentiments have drastically changed from confused to the state of the mood of denial and despair.
When promoters increase their shareholding, it is generally considered as coming of a good time for the business. The same has been done by SEBI (Securities and Exchange Board of India) by employing several proactive measures to relax fundraising norms. Thus giving companies an option to raise capital amid the Covid-19 pandemic.
On Thursday, the domestic stock market witness volatile expiry day trade. The market had a negative start but soon traded in the green. Nifty gave up on recovery today and witnessed a decline and testing lows. Though Nifty recovered in the second half of the trading session but Index finally closed at 10288.90 down by 16.40 points or 0.16 per cent.
New Delhi: On Monday’s session, Pharmaceutical shares again traded higher with their sectoral index advances. Around 11:45 AM, the Nifty pharma index was trading at 10241.95 points up by 2.4 per cent.
In Monday trade, Glenmark Pharma shares saw a spout of 35 per cent after the announcement of launching an antiviral drug Favipiravir, under FabiFlu brand name on Saturday to treat mild to moderate Covid-19 patients at a price of Rs 103per tablet.