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Market Update
Markets took a break from upward rally and ended almost flat today. Sectoral indices witnessed a mixed trend where NIFTY Auto, Media and PSU bank took up the rally, while other sector indices ended either flat or in red.
SBI is one of the top gainers and closed 4.33% higher than yesterday at Rs. 203.5 on NSE. India’s largest PSU bank witnessed higher trade volumes. Current SBI chairman Rajnish Kumar is likely to get an extension after his current term ends on Oct 7, 2020.
FII/DII Data for 12th August:
FII invested Rs. 351.15 crores while DII took away Rs. 939.67 crores from the market as per data available on NSE website.
| CATEGORY | DATE | BUY VALUE (₹ Crores) | SELL VALUE (₹ Crores) | NET VALUE (₹ Crores) |
| DII | 12-Aug-20 | 3,560.30 | 4,499.97 | -939.67 |
| FII/FPI | 12-Aug-20 | 4,938.95 | 4,587.80 | 351.15 |
IIP data released for June Month:
Index of Industrial Production (IIP) is contracted by 16.6% in June as compared to last year, as per the data released by Central Statistical Organisation (CSO). The 3 major sector comprising IIP viz. Manufacturing, Mining and Electricity outputs contracted by 17.1%, 19.8% and 10% respectively compared to the output in June, 2019.
Gold, Silver prices continue to fall:
Investment safe havens gold and silver continued their steep downward rally on account of profit booking and Russian vaccine hopes.
Eicher Motors shareholders approve the Stock split:
Existing share of FV Rs. 10 will be subdivided into 10 shares of FV Re. 1. This move is to increase shareholder base, retail participation and to ensure liquidity. Market welcomed the decision by lifting the stock up by 2.74% on NSE.
Updates on our previous trade set ups:-
Adani Port from 305 level today touched 348 quite comfortably hit our first target of 335+. Now it’s steadily heading towards 370 level. We continue to remain positive in the counter with an extended targets of 420/600.
Reliance is still in consolidation mode gaining enough strength to cross 2300 levels in a few trading session.
Today Nifty has shown significant strength among sell-offs and we are quite certain about our view of 11800+ in this expiry.
Stay tuned to our blogs.
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