Thursday, 12 April 2018

M&M BULLISH AS PREDICTED ON 09 APR POST


HOLD FOR 2ND TGT 800
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Market summary 12 APRIL 2018: A sixth straight session on Thursday, ahead of key retail inflation data later in the day, and as a weakening rupee and expectations of positive quarterly results boosted information technology stocks. Among the sectoral indices on BSE, IT rallied 3.18%, teck 2.49% and 0.35%, while realty fell 1.82%, metal 1.41% and healthcare 0.73%. BSE MidCap and SmallCap declined 0.13% and 0.27%, respectively. TCS, Infosys, Axis Bank and ICICI Bank were among the major gainers, Dr. Reddy’s Labs, Tata Steel, SBI and Sun Pharma were top losers. IT stocks jumped due to weak rupee and expectations of positive quarterly results. Software services exporter Infosys Ltd will kick-start the January-
March corporate results season on Friday.TCS shares jumped as much as 4.5 per cent to Rs 3,150 and Infosys rose as much as 4.3 per cent to Rs 1,172 . Investors await March retail inflation data due later on Thursday for cues about the economy. Today, Top five gainers were TCS, Infosys, Axis Bank, ICICI Bank and Tata Motors, while the major losers were Dr Reddy's, Tata Steel, SBI, Sun Pharma and Adani Ports. Out of 1,556 stocks traded on Nifty, 1,142 advanced, 372 declined and 42 remained unchanged.

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