INTERNATIONAL MARKET UPDATE (24 AUG 2018)

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NCDEX SUPPORT & RESISTNCE LEVEL (24 AUG 2018)

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Sensex marginally higher, Nifty around 11,600; Axis Bank up 2%

A sharp recovery in banks as well as metals has helped the market. FMCG and pharmaceuticals are trading in the red.

Equities have begun the last trading session for the week on a sombre note, with the Nifty hovering around 11,550. The Sensex is trading flat. All sectoral indices are trading in the red, with maximum cuts visible in banks, FMCG, and metals, among others. Among broader markets, midcaps, too have taken a hit, down about a quarter of a percent.

The Sensex is down 28.95 points or 0.08% at 38307.81, and the Nifty down 20.90 points or 0.18% at 11561.90. The market breadth is positive as 346 shares advanced, against a decline of 187 shares, while 48 shares were unchanged.

Axis Bank, IndusInd Bank, and HCL Tech are the top gainers, while ICICI Bank, Vedanta, Hindalco and Bharti Infratel have lost the most.

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Source: https://www.moneycontrol.com/news/business/markets/market-live-sensex-marginally-higher-nifty-around-11600-axis-bank-up-2-2875471.html

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RIL hits market capitalisation of Rs 8 lakh crore; stock touches fresh record high

The huge upmove in the stock has been visible especially after the company laid out big plans at its annual general meeting (AGM), including the launch of its fibre-to-the-home service, GigaFiber.

Market capitalisation of Reliance Industries on Thursday touched Rs 8 lakh crore on the BSE. The stock also touched a fresh 52-week high of Rs 1,260.80.

The huge upmove in the stock has been visible especially after the company laid out big plans at its annual general meeting (AGM), including the launch of its fibre-to-the-home service, GigaFiber.

The stock surpassed m-cap of Rs 7 lakh crore on July 13, 2018. The company on July 12 crossed the $100-billion market capitalisation mark for the first time in the last 10 years. IT bellwether Tata Consultancy Services' market valuation had in May surged past Rs 7 lakh crore.


While having a Buy rating on the stock with a target price of Rs 1,424, Vineeta Sharma, Head of Research, Narnolia Financial Advisors said with all the verticals now performing well and the capex cycle nearing the end, Reliance is expected to derive 18 percent and 12 percent plus profit growth in FY19 and FY20.

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Source: https://www.moneycontrol.com/news/business/markets/ril-hits-market-capitalisation-of-rs-8-lakh-crore-stock-touches-fresh-record-high-2871991.html

INTERNATIONAL MARKET UPDATE (23 AUG 2018)

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NCDEX SUPPORT & RESISTANCE LEVEL (23 AUG 2018)

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