The News International Team
02:25pm Market Expert
The Nifty could consolidate between 7800-7850 on the downside and 8200-8300 on the upside, says Amit Khurana, Co- Head Equites & Head of Research, Dolat Capital Markets in an interview to CNBC-TV18.
Going forward, the big trigger for the market would now be earnings upgrades for FY16 and the earnings visibility, says Khurana.
According to him, there has been decent amount of money inflow into largecap and midcap stocks.
02:00pm The market remained under pressure in afternoon trade with the Sensex falling 137.35 points to 27002.59 and the Nifty declining 42.60 points to 8072 while the BSE Midcap and Smallcap trimmed losses to 0.2 percent and 0.7 percent, respectively.
About 1010 shares have advanced, 1804 shares declined, and 113 shares are unchanged.
Realty major DLF kept its top position in the selling list, down nearly 10 percent. Jindal Steel, BHEL, Hindalco Industries and Tata Steel plunged 3.5-4 percent. Shares of Tata Motors, ICICI Bank, Reliance Industries, Infosys, L&T, HDFC Bank, GAIL and TCS dropped 0.6-2 percent.
However, shares of HDFC, NTPC, Bajaj Auto and Hero Motocorp bucked the trend, gaining 1-2 percent followed by ITC and Axis Bank with 0.4 percent.
Most active shares on exchanges were Idea Cellular, Jaiprakash Associates, TVS Motor, Arvind, Escorts, ICICI Bank and Tata Motors.
After the promoter Jaypee Infra Ventures selling 1.45 percent stake in Jaiprakash Associates in previous three sessions for social cause, all Jaypee group stocks tanked with the JP Associates, Jaypee Infratech and Jaiprakash Power Ventures falling 7-18 percent.
Global markets fell marginally with Germany’s DAX and France’s CAC down 0.5 percent, cautious ahead of the ECB decision later today. Some analysts expect ECB President Mario Draghi to launch an additional stimulus measure, which may even be a Fed style QE program in the face of poor inflation growth and weak GDP data.