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Stock to be in Top Tomorrow : By Premium Stock Tips, CALL 08040751836

Benchmark indices ended lower weighed down by profit taking in financials and index heavyweight Reliance Industries. However, the downslide was limited due to buying interest in select IT and FMCG shares.

STOCKS TO TRADE TOMORROW

INDICES :

The benchmark S&P Sensex closed at 28,077 levels, down 52 points or 0.2%. Nifty50 index slipped 6 points, or 0.1%, to close at 8,693 levels.

MIDCAP SMALLCAP :

The broader markets outperformed the benchmark indices. The S&P BSE Midcap and Smallcap rose 0.1%-0.3%.

RUPEE :

The rupee fell further by 6 paise to 66.87 against the dollar at the Interbank Foreign Exchange market today on increased demand for the American currency from importers.

OVERSEAS MARKET :

In the overseas markets, European shares were trading higher, kicking off the last trading day of the week with a positive tone as merger deals and a stronger US dollar and corporate earnings support prices.

Asian stocks edged lower after the ECB left its policy rate unchanged after the conclusion of a monetary policy meeting.

STOCKS :

*Cipla, Reliance Industries, Axis Bank, HDFC, Asian Paints and ONGC were the main laggards from the Sensex pack, down 1%-2%. Wipro rose around 1% ahead of Q2 numbers.

*Cipla was the top Sensex loser, down over 3% after the pharma major today lost a case related to overcharging in certain drugs, in violation of the provisions of drug (price control) order, 1995. As per the company’s latest annual report, it had received notices of demand aggregating to Rs 1,768.51 crore.

*Reliance Industries slipped in trade today by 2% after reporting Q2 earnings yesterday. The company surprised the Street with a record standalone net profit of Rs 7,704 crore for the quarter ending September 2016 (Q2 FY17), 17.9% higher than the Rs 6,534 crore profit after tax (PAT) reported in the same period last year.

 

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