Skip to main content

Small & midcaps slip ahead of exit polls: 9 stocks hit fresh 52-week high in BSE500

The S&P BSE Midcap index slipped 0.57 percent for the week ended May 17 while the S&P BSE Smallcap index was down 1.5 percent in the same period.





It was a roller coaster ride for the Indian markets as Nifty made an intra-week low of 11108 before closing above 11400 levels for the week that ended May 17. The index rose 1.14 percent in just 5 trading sessions while the S&P BSE Sensex gained 1.25 percent in the same period.
The broader market, on the other hand, underperformed benchmark indices ahead of the crucial exit polls which are scheduled to be out on Sunday, May 19.
The S&P BSE Midcap index slipped 0.57 percent for the week that ended May 17 while the S&P BSE Smallcap index was down 1.5 percent in the same period.
Even though benchmark indices struggled to gain momentum, as many as 9 stocks in the S&P BSE 500 index bucked the trend to hit fresh 52-week high which includes names like Procter & Gamble Health, SRF, DCM Shriram, Atul, Titan Company, PI Industries, DCB Bank, UPL, and Varun Beverages.
11
In the S&P BSE Smallcap index, which fell by over 1 percent, as many as 13 stocks rose 10-30 percent which include names like Tanla Solutions, JustDial, Indiabulls Ventures, Asian Granito, Rolta India, etc, among others.
All eyes are on exit polls results which will chart the direction of markets in the coming week ahead of election results which will be out on May 23, Thursday. Investors should brace for volatility as we could see wild gyrations in the market.
12
But, the way markets bounced back on Friday with huge gains suggest that D-Street is factoring in a positive outcome or at least a stable government at the center.
"The last phase of the election will be over on Sunday and exit polls from different surveys will be out from Sunday night. The market is expecting the current regimen to continue for next term and will not be surprised if exit polls share this view," Romesh Tiwari, Head of Research, CapitalAim told Moneycontrol.
"But, in case of exit polls predicts a hung assembly or significant decline in NDA seats then NIFTY and Sensex may become highly volatile before actual result to be declared on 23rd May," he said.
Technical View:
The Nifty formed a bullish candle on the daily charts and a Hammer kind of candle on the weekly charts which suggest that bulls might make a comeback. The Nifty50 reclaimed crucial resistance levels in Friday's session which is a positive sign for the bulls.
The Nifty witnessed a gradual rise throughout the day on Friday. On the way up, the index crossed the swing high of 11,294, as well as 11400 levels.
"In the coming week, we believe the trend may continue in favor of bulls if Nifty is able to close above 11550. Above that (11550), we may see a sharp move and short covering that can thrust and take Nifty to 11750 - 11800 in a furious way," Mustafa Nadeem, CEO, Epic Research told Moneycontrol.
"On the downside, we are well supported at 11150 - 11100 range; so any decline towards these numbers shall be utilized by bulls," he said.
for more information best advisory company in Indore 


Comments

Post a Comment

Popular posts from this blog

Keep 5-yr investment horizon for Long Term Equity Fund

Though the fund has done well over past five years, the investors must be prepared to tolerate short-term under performance in case there is a sudden rally that overlooks fundamentals . Investment strategy The scheme has invested in a concentrated portfolio of around 25 stocks. The stocks are picked up on a bottom-up basis. The fund manager identifies investment opportunities that would deliver over a five-year time frame. “We don’t put much emphasis on the macro environment and the associated factors since they are not predictable and not within anyone’s control.  Should you invest now? The scheme’s portfolio has cut its net exposure to Indian stocks over past two years. Compared to 62 percent in September 2016, it came down to 55 percent in September 2017 and to 45 percent now, in line with rising valuations of quality companies. High cash levels and exposure to overseas stocks have helped the fund to weather recent sharp correction in Indian stocks....
2 comments
Read more

Oil prices fall on rising US rig count, Illinois refinery fire

US West Texas Intermediate (WTI) crude futures were at $51.92 per barrel at 0144 GMT, down 80 cents, or 1.5 percent, from their last settlement. Oil prices fell by more than 1 percent on Monday as US drilling activity picked up and as a refinery fire in the US state of Illinois resulted in the shutdown of a large crude distillation unit. US West Texas Intermediate (WTI) crude futures were at $51.92 per barrel at 0144 GMT, down 80 cents, or 1.5 percent, from their last settlement. International Brent crude oil futures were down 71 cents, or 1.1 percent, at $61.39 a barrel. In the United States, energy firms last week increased the number of oil rigs operating for the second time in three weeks, a weekly report by Baker Hughes said on Friday. Companies added 7 oil rigs in the week to Feb. 8, bringing the total count to 854, pointing to a further rise in US crude production, which already stands at a record 11.9 million bpd. WTI prices were also weighed down by the ...
Post a Comment
Read more

Wall Street drops, S&P 500 confirms correction

The Dow Jones Industrial Average fell 178.74 points, or 0.73 percent, to 24,285.95, the S&P 500 lost 17.37 points, or 0.66 percent, to 2,632.56 and the Nasdaq Composite dropped 33.27 points, or 0.48 percent, to 6,938.98. US stocks closed lower in a shortened post-holiday trading session on Friday as the energy sector tumbled on continued weakness in oil prices, and the benchmark S&P 500 confirmed its second correction of 2018. The three major US indexes all fell well over 3 percent for the week, with the Dow industrial and the Nasdaq posting their biggest weekly percentage declines since March. The S&P 500 ended about 10.2 percent down from its September 20 closing record high, confirming it had entered a correction. The S&P last entered a correction earlier this year after posting a then record high in late January, and falling more than 10 percent by early February. That correction lasted roughly seven months, until the index posted a fr...
Post a Comment
Read more