116523 Investors following Infosys. Share this News with them.
0
Like this story, share it with millions of investors on M3
Will mkts unwind more from hereon?
It was a tepid session for the markets. The Nifty was down about 1% at 4,393 and the Sensex was down 0.5% at 14,645. The broader indices saw some unwinding pressure. Oil and gas index was down considerably. Metals looked weak. But IT bucked the trend.
It was a tepid session for the markets. The Nifty was down about 1% at 4,393 and the Sensex was down 0.5% at 14,645. It was fairly volatile but given the kind of picture that the rest of Asia experienced today, the performance of our market did not stack up too badly. Many analysts believe that the Shanghai market has not found a floor so far and it tumbled over 5%. Most of the Asian markets saw deep cuts today.
The broader indices in our markets saw some unwinding pressure. The midcap index was down over 1% and the smallcap index and the Nifty Junior also looked weak. That translated in the breadth that opened in the favour of declines by the time we hit closing bell. In terms of turnover, on the F&O side particularly the activity was fairly brisk. Rs 39,000 crore done on the F&O side and total turnover was about Rs 53,000 crore, which is much lower than what we have seen in the week gone by.
Oil and gas index was down considerably. Metals looked weak. But IT bucked the trend. Infosys and Wipro held out even in a falling market. HDFC and HDFC Bank gained in intraday trade. Dr. Reddy's also looked firm. All key heavyweights from the technology pack performed.
We also saw some disappointing performance from sugar. A couple of stocks held out, namely Dhampur Sugar and Bajaj Hindusthan . But for most of the sugar stocks it was a quiet session or were down in the red.
It was a tepid session for the markets. The 
