Pharma shares traded higher with higher index sector trading in Friday’s session. Pharma sectoral index traded 0.85 per cent up at 10163.95 points.
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Raamdeo Agrawal, Joint Managing Director of Motilal Oswal Financial Services said in a virtual chat hosted by PMS-AIF World: “Pharma and telecom industry could emerge as a new leader in the post-COVID market situation, but won’t be able to boost the index seen by financial.”
The domestic equity market saw an extension of the pullback on the expected lines on Thursday. Finally, Nifty opens way better than expected as it opened above the 50-DMA level. Derivate contracts and weekly options adjusted the market move during expiry of the May 2020.
As it is very well known that spotting a winner in a bear trend is way challenging than a bullish trend. But, historically, the stocks that have outperformed in the Nifty early bottom phase have turned up as a leader in the 3 subsequent years.
Mumbai: The Bank Nifty sees shorting in huge because of the fear of rising No-Performing Assets (NPA’s” Loom. The Bank Nifty could move over 8% range with a downward bias in the coming week due to heavy call selling expiry options on May 28, 2020, reported by Ram Sahgal.
Securities and Exchange Board Of India (Sebi) has asked listed companies to disclose the expected impact of lockdown on business revenues and profits. Lockdown has resulted in distortions in the market due to the unavailability of the operations information of a company.
The Domestic equity market traded in a narrow range but with wide overnight gaps during the last week. Making people cautious of open positions. Faint-hearted traders are out of Dalal Street, as nifty futures open interest fell lowest in the 15 years, making market going in uncharted dominion.
ICICI Securities said in a note to clients, “Many will shift towards liquid and safer financial assets due to rise in loss of the income”.
New Delhi: On Thursday, Nifty 50 crashed in the middle of weekly option contracts. As index formed a bearish candle on Thursday. If following daily chart then bears were in the driver’s seat following Wednesday’s bearish belt hold. Analysts quote that the index may face resistance breaching point at 9250 while supported by the 9050 points.