Analysts have slashed their earnings expectation by 12 - 15 per cent for the lender
The stock markets are generally closed on Saturdays and Sundays, except for special circumstances
Experts say companies added into index could attract large investor flows
The latest outperformance in the broader market comes after two years of sharp underperformance vis-a-vis large-caps
Brokers say investors yet to buy the pitch of a broader market revival
Standard gold falls over 2.4% to Rs 39,772, biggest drop since Oct 2016
All the Nifty sectoral indices, except Nifty IT, were trading in the green
Brokers said they have reduced leverages to most of their clients to twice the intra-day trading limit now as compared to five times earlier
Analysts say the market surge could be attributed to short-covering as traders had built a lot of shorts during Monday's heavy sell-off
Rupee breaches 72 against dollar in intra-day trade; gold rises to 6-yr high; Brent crude near $70/barrel
The daily, as well as weekly momentum indicators in Nifty, have provided a buy crossover
Double-digit returns from these instruments boost tier-1 plans
The Nifty Midcap closed 5 per cent lower, while the Nifty Smallcap fell about 11 per cent.
Lack of earnings revival will test investors' faith
Massive polarisation as only a few stocks outperform handsomely
The daily, as well as weekly, MACD for Nifty, is still in buy mode; hence, the bulls still have an upper hand on that front
For Nifty, the immediate support on the lower side is pegged at 12,225; hence, till those levels are not broken, the trend is positive for the target of 12,340
Foreign institutional investors seem to be booking profit though, having shed shares worth Rs 435 crore in Dec
ITC, Nifty, Indian Oil, Tech Mahindra
Market benchmark BSE Sensex declined over 247 points on Tuesday to close at 40,239 as heavy selling emerged mainly in power, oil & gas and IT stocks amid a strengthening rupee. The 30-share gauge opened strong at 40,588.81, but soon lost momentum to slip into the negative territory. It finally closed 247.55 points or 0.61 per cent lower at 40,239.88. On similar lines, the 50-scrip NSE Nifty fell 80.70 points or 0.68 per cent to finish at 11,856.80. Yes Bank was the biggest loser in the Sensex pack with 10.05 per cent decline, followed by PowerGrid, IndusInd Bank, NTPC, ITC, TCS, Axis Bank, Hero MotoCorp, M&M and HCL Tech, which lost up to 2.66 per cent. On the other hand, Bajaj Finance, HUL, HDFC Bank, ICICI Bank, and Bajaj Auto gained up to 1.06 per cent. Meanwhile, the rupee appreciated by 11 paise to trade at 70.93 against the US dollar (intra-day). Brent futures, the global oil benchmark, slipped 0.33 per cent to USD 64.04 per barrel. In other Asian markets, Hong Kong ...