- Market set fresh records; banks, refiners lead gains; Nifty settled above 10650 mark.
- TCS Q3 profit grows 1.3%, dollar revenue meets estimates; volume growth strongest in 3 years.
- IndusInd Bank Q3 profit rises 25%, NII misses estimates; asset quality weakens a bit.
- Bajaj Corp reported Q3 net profit down 4.5 percent at Rs 55 crore.
- BHEL commissions 250 MW thermal power unit in Bihar.
- Dish TV stock falls 6% as concerns rise over closure of Videocon D2h deal.
- Tata Chemicals completes sale of urea and customized fertilisers business to Yara Fertilisers.
- KTK bank has registered a net profit of Rs 87.32 crore in against a net profit of ₹68.52 crore.
- Maruti Suzuki raised the prices of its cars by between Rs 1700 and Rs 17000 across its entire product range.
- Tata Chemical shareholders approve sale of Haldia phosphatic fertilizer operations.
Weekly Market View
Nifty traded higher for the sixth week too surging to new life time as the result session started with TCS and INFY kicked off the IT sector earnings on Thursday and Friday. Nifty remained bullish for most trading sessions and closed at new life time closing high at. Nifty 50 looks bullish ahead too however Govt budget and earning season will drive the market ahead. Nifty has good support area around 10450 to provide a stop for any correction stream.
Weekly Nifty Bank View
Nifty Bank too traded higher for the second week consecutively on weekly chart forming bullish hammer candle formation to end in green at. Nifty bank looks bullish for coming trade sessions and 25850 may take banking index to test the life time high once however there is a good support area seen for banking index at 25400 and 26200 being the resistance level.
Global Markets Update
World markets traded mixed till Friday with US equities increased amid rising crude oil prices lifted energy stocks and investors bet on a strong U.S. corporate earnings season.US S&P 500 ended at 2767.25.The German stocks traded lower amid political uncertainty with DAX trading lower at 13217.50.The Asian peers too traded mixed with shanghai composite ending till Friday in green at 3428.94 and Japan’s Nikkei 225 closed the bell till Friday in red at 23653.82.
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