Equity benchmarks came off early highs after the Nifty surpassed 10,000 level in opening. Banks and telecom stocks gained while technology, healthcare, oil and infra stocks were under pressure.
The 30-share BSE Sensex was up 16.33 points at 32,262.20 and the 50-share NSE Nifty gained 6.20 points at 9,972.60 amid volatility.
The market breadth was in favour of declines as about 1,078 shares declined against 991 advancing shares on the BSE.
Gautam Shah of JM Financial said technically & fundamentally markets looked overbought.
Market is on the cusp of first meaningful correction in over a year, he feels. This is not the right time for leveraged traders to get in for the short term, according to him.
According to Laurence Balanco of CLSA, the next target for Nifty is at 10,350.
Nilesh Shah, MD, Kotak AMC said this level (10,000) of Nifty doesn’t worry neither excites much.
He feels valuations are reasonable in IT, pharma & PSU banks. Private sector banks will come back in focus post NPA resolution, he said.
To
Get Free Trial on stock market tips,equity trading tips give
Missed
call @8817002233,WHATSAPP NO. 8602780449
Mail
Us = starindiamarket@gmail.com
No comments:
Post a Comment