Wednesday, 22 March 2017

Stock Market Updates by Ripples Financial Advisory – 22nd March 2017

Indian Benchmark Index Nifty opened flat at 9134 on Tuesday 21st March. The underlying sentiment remained supported somewhat after the Union Cabinet on Monday approved for GST draft Bills, which will now be tabled at Parliament’s ongoing budget session. Nifty after opening, made a high of 9148 and from there it made a low of 9087 and finally closed at 9122. The immediate support for Nifty is at 9060.

Bank Nifty remained weak in the last trading session. It opened at 21111 and made a low of 20967 and finally closed at 21019, 91 points lower from its previous day’s close of 21110. All the major Banks in the index were down on Tuesday. Axis Bank was down by 2.89%, Yes Bank by 2.05%, Canara Bank by 1.97%, PNB by 1.62%, Bank of Baroda by 1.66%, ICICI Bank by 1.09%. The stocks in the index which were in green were IndusInd Bank, HDFC Bank, Kotak Mahindra Bank and Federal Bank.

Small Cap witnessed some sort of profit booking at higher levels on Tuesday 21st March. Small Cap made an all time high of 6860 and closed at 6820, which is 12 points down from its previous day’s close of 6832.

Nifty Future is opening at 9081 as per SGX Nifty at 8:50 am IST, 74 points below its previous close of 9155.

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