Bulls Stepping High

Market Walk 23rd March, 2016 :

A high volatile day ended with marginal gains. The Sensex ended 7.07 points higher at while 25337.56 the Nifty also looked static, gained 1.6 points to 7716.5. Hindalco gained 4.94 percent to 91.3. Idea Cellular, Tata Steel, Bharti Airtel, Yes Bank, Bajaj Auto were the gainers. Reliance lost 1.78 percent to 1029.2. Bank of Baroda, Lupin, PNB, GAIL, HCL Tech, Kotak Mahindra, Tech Mahindra were among the losers. The Nifty Midcap 100 gained 0.33 percent to 12636.75 while the Nifty Small 100 lost 0.36 percent to 4874.05.

Power Minister Piyush Goyal said, India aims to become 100% e-vehicle nation by 2030. He added, India could become the first country of its size which can run 100% e-vehicles. We are trying to make this programme self-financing.

L&T Finance plans to raise upto INR 300 cr through non-convertible debentures (NCDs) on a private placement basis. BSE will auction investment limits for overseas investors on Monday for the purchase of Government debt securities worth INR 5035 cr. The auction will be conducted on BSEs ebidxchange platform from 3.30 pm to 5.30 pm after the close of market hours.

The March US employment report and other key economic numbers next week are expected to help US stocks resume their recent winning path as long as that data hits the sweet spot.

Stocks to Watch: Yes Bank is on upside while Lupin is on downside.