Nifty Outlook:
The
Indian equity market on the last trading day of the week gave up first
half gains to close in the red. However, the banks and midcaps continued
to outperform. Reliance Industries overtook Tata Consultancy Services
in market cap to reclaim the most valued company tag. The 30-share BSE
Sensex was down 57.09 points at 29,365.30, and the 50-share NSE Nifty
slipped 17 points to 9,119.40 after hitting an intraday high of
9,183.65.
Bank Nifty Outlook:
HDFC
Bank, India’s second largest private bank by assets and most valued
lender, has cut employee strength for the second straight quarter on the
back of its digital outreach and slower branch expansion. The bank's
staff strength has fallen by 6,096 or 7 percent to 84,325 in the quarter
ended March 2017 from 90,421 in December 2016. This reduction is the
highest in a quarter and at least one-third more than 4,581 people the
bank lost in the previous quarter ending December 2016.
Nifty Trends
|
| R1 | 9180 |
| R2 | 9260 |
| S1 | 9070 |
| S2 | 9000 |
|
|
Technical Outlook:
Top Gainers
|
| INFRATEL | 352.95 |
| RELIANCE | 1,405.00 |
| HDFCBANK | 1,498.70 |
| NTPC | 167.00 |
| TECHM | 427.45 |
Top Losers
|
| SUNPHARMA | 638.50 |
| WIPRO | 487.50 |
| BANKBARODA | 175.35 |
| ADANIPORTS | 326.00 |
| GRASIM | 1,126.15 |
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