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23 May 2022
Monday
Mkts reverses temporarily, Nifty ends above 16,200
Bulls made a comeback after three weeks of consecutive losses as markets rebound from its recent lows to end the week on positive note on the back of recovery in Asian indices. China's central bank cutting the 5-year loan prime rate and easing of Covid-related restrictions also provided a boost to the bullish sentiments in Asia. LIC IPO listed at a discount at a time when markets were seeing selling pressure by foreign institutional investors. Federal Reserve Chair Jerome Powell said that the bank wants to see inflation coming down in a convincing way and the bank would inch-up interest rates until it sees that.
For the week, the Nifty ended higher by 3 pct to end at 16,266 levels and the Nifty Midcap 100 and Nifty Smallcap 100 gained 3 pct and 3.8 pct respectively. On the sectoral basis, Nifty Metal index gained 7.4 pct, outperforming the sector indices followed by 5 pct gains in automobile sector abd 4 pct gains in energy sector. Nifty IT index was the top loser, down 2.8 pct. IT stocks fell sharply led by TCS, Infosys- each down by more than 3 pct each. Tech Mahindra fell 6 pct.
On the portfolio front, we have raised the target price for ITC to Rs 350 based on momentum pick up in the counter.
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Share Name | Date | Entry Price | Target Price | Exit Price | Return % |
---|---|---|---|---|---|
Tata Motors | 19th Feb, 2019 | 102 | 250 | 242 | +237.25 |
L&T | 30th Mar, 2020 | 798 | 1500 | 1500 | +87.96 |
Titan | 30th Mar, 2020 | 850 | 1400 | 1400 | +64.7 |
Britannia | 30th Mar, 2020 | 2213 | 3600 | 3635 | +64 |
Hero Motocorp | 30th Mar, 2020 | 1588 | 2800 | 2557 | +61 |
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