The sharp depreciation in the rupee for sixth consecutive day pushed technology stocks higher, but kept the market volatile.
The market breadth was narrow with 1,391 shares advancing, against a decline of 1,290 shares. 165 shares remained unchanged.
A typical long-legged Doji pattern is formed when the opening price is almost equal to the closing price but there was a lot of intraday movement on either side.
Midcaps managed to put up a good show, gaining over half a percent, while PSU banks, pharma and IT names were the top sectoral gainers. Metal stocks witnessed some profit booking during the session.
The market's upward trajectory was in spite of volatility in stocks traded abroad and crude hitting multi-year highs, primarily because investors continued to be hopeful that earnings would keep getting better.
Experts feel investors should do their own research before buying based on FII outlook.
TCS has also crossed Accenture's market capitalisation which was at USD 98 billion. TCS market cap is 52 percent higher than all the other IT index companies.
Here is a list of top 10 stock ideas from different experts which can offer up to 22% return in the next 30 days.
Pune-based Prashant Shah trades from a software that has been designed by him and his 14 member team at Definedge Solutions, a company co-founded by him
In general, if implied volatility is higher than historical volatility it gives some indication that option prices may be high. If implied volatility is below historical volatility, this may mean option prices are discounted.
Investors will continue monitoring earnings performance, crude oil prices and rupee movement, going ahead, followed by Karnataka elections next month
On a year-to-date (YTD) basis, as many as six out of 10 stocks failed to even match the Sensex’s return of 1.09 percent.
Despite benchmark indices ending the week with marginal gains, there were plenty of stocks that rose by up to 20 percent in the same period.
The Nifty managed to close above its crucial support level of 10500 on Friday weighed down by financials, energy, realty, and infrastructure stocks. The index finally closed 1.2 point lower at 10,564.
The Nifty index formed an indecisive pattern ‘Doji’ for the second consecutive session in a row and now a breakout above 10594 or a breakdown below 10509 will decide the direction for the markets.
For the week, both indices managed to end with gains of over half a percent, while the Bank Nifty ended over 1 percent lower.
TCS, Infosys, and Tech Mahindra were the top gainers, while Yes Bank and ICICI Bank lost the most.
Market capitalisation of BSE listed companies rose to Rs 150.58 lakh crore on Thursday from Rs 144.32 lakh crore on April 2, which translates to a rise of over Rs 6 lakh crore in market capitalisation in a matter of just 14 trading sessions.
Deepak Jasani, Head – Retail Research at HDFC Securities said rural facing and infrastructure sectors could do well in 2018.
Top contrarian buy calls include Hero MotoCorp, Tech Mahindra, LIC Housing Finance, Hindustan Petroleum Corporation (HPCL) and NMDC.
As market breadth is picking up, traders are advised to shift their focus on stock specific opportunities. On the index, a break below 10,500 could fuel selling pressure while a break out above 10,630 shall extend the rally.
Hindalco, Nalco, Tata Steel, Vedanta, Hindustan Copper, JSW Steel, SAIL, Nalco and Jindal Steel & Power rallied up to 12 perc ent on higher commodity price
Here is the list of 20 stocks that could give up to 50 percent return over a period of one year.
The Nifty which was sailing nicely in the first half of the trading session pared gains after the RBI Deputy Governor NS Vishwanathan has defended 1-day default clause of February 12 circular, saying default is a lagging indicator and not a leading indicator of financial stress.
Axis Bank, Tech Mahindra, Lupin, M&M, Titan Company and IndusInd Bank were down between 1 per cent and 2.5 per cent.