Nifty Outlook:
The
Sensex ended up 106.05 points at 30570.97, while the Nifty closed up
10.35 points at 9438.25. The market breadth was negative as 903 shares
advanced against a decline of 1,852 shares, while 161 shares were
unchanged. ITC, Bharti Infratel and Larsen & Toubro gained the most
on both indices, while State Bank of India and Lupin were a drag.
Midcaps continued their decline from the previous sessions, along with
PSU Banks, and energy, while FMCG stocks gained the most.
Bank Nifty Outlook:
Wipro,
India’s third-largest IT services company, is looking to reduce its
workforce by 10 percent this year, Moneycontrol has learned from some
managers in the company. Wipro currently employees close to 1.8 lakh
people. Internally, the project is code-named B10 (Bottom 10 percent).
The managers said the human resource department had asked them to
identify the bottom 10 percent during appraisals which concluded in
April. The company last year introduced a quarterly appraisal system.
When asked about this, Wipro denied the development, but refused to give
the actual percentage of employees it was likely to fire due to
performance-related issues.
Nifty Trends
|
| R1 | 9465 |
| R2 | 9500 |
| S1 | 9370 |
| S2 | 9280 |
|
|
Technical Outlook:
Top Gainers
|
| ITC | 303.00 |
| INFRATEL | 388.20 |
| HCLTECH | 859.00 |
| LT | 1,753.00 |
| TATAMOTORS | 449.20 |
Top Losers
|
| LUPIN | 1,259.95 |
| SBIN | 294.40 |
| AUROPHARMA | 574.50 |
| GAIL | 388.85 |
| AMBUJACEM | 243.70 |
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