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Aug 02, 2012, 08.14 AM IST
Udayan Mukherjee, managing editor, CNBC-TV18 says that it was a flat day for the market today, the markets went on complete pause mode before hearing out the US Fed later tonight and ECB as well. The volumes drift-off quite a bit
Udayan Mukherjee, managing editor, CNBC-TV18 says that it was a flat day for the market today, the markets went on complete pause mode before hearing out the US Fed later tonight and ECB as well. The volumes drift-off quite a bit
Cipla was top of the heap, results surprised on the positive side yesterday and that stock got a good reaction. JP Associates too where results had some wrinkles on the cement and real estate front but that stock also after a slow start picked up steam. In the banking space stocks like Kotak Bank , Bank of Baroda (BOB), State Bank of India (SBI) and Punjab National Bank did well today. Coal India was a big loser on apprehensions around of what the new FSA norms which the company seems to be agreeing to would entail. Two large cap like ONGC and TCS did not look very smart today. The breadth was good, the market midcaps segment outperformed a bit. The star there was from the pharmaceutical space like the large cap universe in Cipla. Dishman Pharma was the big winner. HDIL did well, MTNL was up. REC and PFC were two big winners today and then names like Century Textiles , SKS Micro , Manappuram and some of the sugar stocks did quite well. Deccan Chronicle losses 5-10% everyday and today was no exception and other stocks like Jain Irrigation and Voltas closed a bit on the weaker side. But a forgettable session of trade, the next couple of days could be quite crucial in determining whether there is a global risk on which continues and continues to pump or drive money towards the Indian market as it has in the last three sessions.
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