Markets tanks nearly 1 percent to end at 3-month low.
Markets saw a huge selling pressure and wiped out previous day’s gains and breaks psychological levels led by in banks due to Rajan comments and auto stocks after NGT order Traders seem to be using every rise to lighten their positions as cautious ahead of the Fed meet next week.
ALL ABOUT IIP NUMBERS:
October IIP bounced back from 4 month low and stood at 9.8 percent against 3.6 percent month on month basis.
- Suven Life gains after getting four product patents.
- November Domestic car sales rise 10.4 percent.
- Power Grid gets USD 1 billion loan from ADB.
- Texmaco Rail wins new freight order worth Rs 18 bn.
- Ashoka Buildcon finished debt refinancing with SBI
- Tata Comm shares dip as plans to sell Neotel stake to Vodafone South Africa arm.
STOCKS IN FOCUS:
- Cipla shares gains as plan to transfer, consumer healthcare business to subsidiary soon.
- Essar group shares were in demand as secures loan from Russia’s VTB to delist shares.
- JSW steel today reported that November month production tanks by 23.7 percent; stock gains.
- Kolte-Patil Developers gains on the news that the company enters into an agreement with Metropolitan Lifespace.
- Pl Industries tanks more than 7 percent today as promoters divest 6.4 percent stake in the company.
- ABB India appointed Sanjeev Sharma as new MD of the company; stock ends on a flat to negative note.
- Indian auto shares tanks after green tribunal says no new diesel vehicles in Delhi.
- Nestle India moved higher by three per cent after SC (Supreme Court) to hear FSSAI plea against its product Maggi.
- Exide Industries saw pull back from its support and gains for the second day, Reversal pattern Doji indicates more buying from here. Buy above 140.50 targets 141.90/143.30/144.75 SL 138.50.
- Voltas EQ is hovering around its important resistance and sustain around it, breakouts seen in the next trading sessions. Stock gains in negative market as well as able give closing above trend line which showing more strength in stock. Buy above 299 targets 305/311 SL 292.
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