Nifty Outlook:
Bulls
remained in charge at Dalal Street on the day when Narendra Modi
completed three years in office, taking equity benchmarks to fresh
closing highs. Likely normal monsoon, FIIs' renewed buying interest,
stable earnings and PSU banks recapitalisation buzz boosted market
sentiment. The 50-share NSE Nifty closed above the psychological
9,500-mark for the first time, up 66.85 points at 9,512.25 while the
30-share BSE Sensex gained 260.48 points at 30,582.60, backed by FMCG,
PSU banks, auto and technology stocks.
Bank Nifty Outlook:
Public
sector lender Punjab National Bank (PNB) turned black in the quarter
ended March 2017, with profit at Rs 261.9 crore against loss of Rs
5,367.1 crore in corresponding quarter of last fiscal. Healthy growth in
net interest income, other income, operating income and asset quality
improvement helped the company to turn profitable despite elevated
provisions.Net interest income, the difference between interest earned
and interest expended, grew by 33.1 percent year-on-year to Rs 3,683.5
crore for Januyar-March quarter despite slow loan growth 1.7 percent at
Rs 4.19 lakh crore.
Nifty Trends
|
| R1 | 9535 |
| R2 | 9585 |
| S1 | 9470 |
| S2 | 9380 |
|
|
Technical Outlook:
Top Gainers
|
| HEROMOTOCO | 3,623.00 |
| ACC | 1,730.00 |
| TCS | 2,425.10 |
| BANKBARODA | 193.50 |
| BHARTIARTL | 373.00 |
Top Losers
|
| KOTAKBANK | 957.20 |
| IBULHSGFIN | 1,051.10 |
| ONGC | 185.00 |
| M&M | 1,364.15 |
| ZEEL | 521.15 |
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