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MTECHTIPS:-Technical Snapshot:
The Nifty futures gave a positive opening on Monday as the markets continued from where it had left on Friday. But markets put a disappointing show on Monday and all effort of strong comeback fizzled out in last, though markets added modest gains to their last session’s positive ending, supported by some good global cues and encouraging earnings number on the domestic front. The start was marginally positive but major indices once seemed faltering, coming very close to breach the neutral line, as the rupee depreciated to its fresh all time low, however the optimism of rate sensitive banking sector and gains in power stocks supported the markets, taking to a positive close.Rate sensitive sectors like, realty, banking and capital goods remained in jubilant mood since beginning, while the defensive FMCG along with IT and Technology counters which witnessed good amount of sorting suffered cut of over a percent each. However, one other sector that remained in limelight was power, adding gains of about a percent on some good result announcements in the power sector. Also one non sectoral gauge, media and entertainment too remained buzzing throughout the day after Aditya Birla Group during the weekend agreed to make a financial investment of 27.5% in Living Media India, part of India Today Group, through its private investment company. TV Today Network touched its upper circuit limit of 20%, NDTV too touched the roof, up by 10%, Reliance Broadcast Network was up by 2.9% and Entertainment Network was up by 1.76%.
The Nifty futures gave a positive opening on Monday as the markets continued from where it had left on Friday. But markets put a disappointing show on Monday and all effort of strong comeback fizzled out in last, though markets added modest gains to their last session’s positive ending, supported by some good global cues and encouraging earnings number on the domestic front. The start was marginally positive but major indices once seemed faltering, coming very close to breach the neutral line, as the rupee depreciated to its fresh all time low, however the optimism of rate sensitive banking sector and gains in power stocks supported the markets, taking to a positive close.Rate sensitive sectors like, realty, banking and capital goods remained in jubilant mood since beginning, while the defensive FMCG along with IT and Technology counters which witnessed good amount of sorting suffered cut of over a percent each. However, one other sector that remained in limelight was power, adding gains of about a percent on some good result announcements in the power sector. Also one non sectoral gauge, media and entertainment too remained buzzing throughout the day after Aditya Birla Group during the weekend agreed to make a financial investment of 27.5% in Living Media India, part of India Today Group, through its private investment company. TV Today Network touched its upper circuit limit of 20%, NDTV too touched the roof, up by 10%, Reliance Broadcast Network was up by 2.9% and Entertainment Network was up by 1.76%.
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