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Outlook Of Nifty/bank nifty today
Nifty Outlook:
Even as
midcap stocks have come under some pressure in the last two weeks after
being on a one-way journey in the last five years, it makes sense for
investors to remain invested in quality midcap stocks which are in the
portfolio of top five midcap funds. Top five midcap funds according to
Sharekhan advisory have given an annualised return of 25-32 percent and
more than 70 percent of the top five stocks have more than doubled in the
last 5 years, data showed.
Bank Auta Outlook:
Select auto
stocks were in action ahead of sales data for the month of May. "While
passenger vehicle will continue its growth momentum in May led by Maruti
Suzuki, 2-wheeler volume is also expected to be strong led by increase in
retail off-take due to marriage season. Commercial vehicle sales are
expected to be weak YoY," Maruti Suzuki ended at record closing high
of Rs 7,214.90, up nearly a percent from previous close while Tata Motors
lost over a percent. Mahindra & Mahindra surged 4 percent on value buying
as brokerage houses turned bullish on the stock post earnings and on hopes
of good monsoon that may boost its tractor sales in rural. Escorts also
gained 4 percent.
Technical Outlook
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Thursday 1 June 2017
Daily Nifty News Letter
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