Market wrap-up (07 SEPT 2015):
Markets fall more than 1 pct on Fed rate hike uncertainty, China sell-off.
The market closed in red for a 6th consecutive day amid a sell-off in late trades after the rupee hit a fresh two year low while growth concerns in China dampened investor sentiment. Nifty was at 14 month low at closing (ends at 7559) while Sensex closed at 15 month low at 24894.
HEADLINES FOR THE DAY:
- Natco Pharma surged in early trades after RBI gives nod to hike FIIs limit.
- Mahindra & Mahindra (M&M) hit fresh low huge volumes.
- Amtek Group shares like JMT Auto, Amtek Auto, Castex Tech extend fall
- Metal shares dips on the back of China growth weakens.
- Hathway Cable surged while NTPC dips on block deal.
- ITC plans to offer distribution networks to smaller FMCG companies and startups.
- Dr Reddy's Lab dips after recalling drugs in the US market.
Intraday Stock Trading Tips & KEY STOCKS FOR THE DAY:
- Abbott India hits fresh high on NSE in an otherwise market on the back of huge volumes.
- RBI (Reserve Bank of India) withdraws FII stock purchase curbs in IndusInd Bank. Stock dips.
- PTC India gains after the company said it had signed MoU for adoption of part of Bhikaji Cama Place under its ‘Swatch Bharat Abhiyan’ with with the South Delhi Municipal Corporation.
- Crompton Greaves wins new three year contract from a French company.
- Jain Irrigation dips as the company seeks shareholder approval for borrowing limit up to Rs. 3000 crore.
- Aditya Birla as company boards approved termination of plans to issue GDRs by group firm PFRL as envisaged under a merger scheme to consolidate their branded apparel business due to regulatory issues.
- ONGC shares tanks on the media reports that its arm ONGC Videsh will acquire a 15% stake in the Vankor oil field of Russian state firm Rosneft.
- Wockhardt said that, will strengthen its R&D capabilities to develop innovative and technologically advanced medicines.
- Maruti Suzuki gains in an otherwise market as plans to take approval from minority shareholders on Gujarat plant.
- Texmaco Rail slips after UGL likely to exit locomotive Joint Venture.
Currey Market CALLS FOR NEXT TRADING SESSION:
- Astramicro EQ is heading towards its important support as today it had touched but could not able to break it, breakouts could be seen in the next trading session sell below 104 targets 103/102/101 SL 105.10.
- More selling pressure could be seen in Kesoramind EQ if able to give breakouts and sustain below it. Sell below 85.50 targets 84.70/83.80/83 SL 86.40.