Closing Bell: Indices end off day’s high but Nifty holds 11,300; pharma, auto in focus

Oct 14, 04:58 PM (IST)
Shrikant S. Chouhan, Senior Vice-President, Equity Technical Research, Kotak Securities

Nifty has formed inverted hammer that generally denotes bearish indication, but, because it appeared after rallying few points we should consider it as bullish continuation pattern till the market is above the level of 11270. In terms of averages, the markets are still above the supports of short term and medium term moving averages, which would support the market if it corrects further from current levels. On immediate basis 11,390/11,395 would be hurdles and fresh buying would emerge if Nifty crosses 11,420. Below 11341, Nifty would find support at 11,300 and 11,270.

Oct 14, 04:17 PM (IST)
Ajit Mishra Vice President, Research, Religare Broking:

The signs of easing trade tensions between US-China has provided some respite to the investors globally. On the domestic front, the earnings season is likely to dictate trend for the Indian markets as some of the front liners would be declaring their results this week. We expect that more than the earnings announcement, investors and traders would focus on the outlook provided by the management especially for consumption driven companies.

Oct 14, 04:07 PM (IST)
Shabbir Kayyumi, Head of Technical Research, Narnolia Financial Advisors:

Strong positive sentiment on weekly opening pushed nifty higher towards 100 DMA placed around 11,410; however intense selling pressure in the last trading hours cut down the entire morning gains forming a Doji indecisive candlestick pattern. As long as Nifty is sustaining above 5 DMA footing at 11,250 levels, it can trade higher towards previous swing high of 11,500 marks with a bullish bias.

Oct 14, 03:35 PM (IST)
Market Close: Market erased most of its intraday gains but ended marginally higher on October 14 with Nifty able to hold above 11,300 level.

At close, the Sensex was up 87.39 points at 38,214.47, while Nifty was up 36.20 points at 11,341.20. About 1207 shares have advanced, 1268 shares declined, and 225 shares are unchanged.

ONGC, Tata Motors, UltraTech Cement, Bharti Airtel and Yes Bank were the top gainers on the Nifty, while losers were Infosys, Bajaj Finance, Bajaj Finserv, Power Grid and Adani Ports.

The market debutant IRCTC share ended 129 percent higher at Rs 733 on the BSE.

Except IT and PSU bank, all other sectoral indices ended higher led by the pharma, auto, FMCG, infra and energy.

Oct 14, 03:26 PM (IST)
DHFL gains 4%: Dewan Housing Finance Corporation (DHFL) denied reports of selling its entire Rs 35,000 crore wholesale book to Oaktree Capital.

Oct 14, 03:14 PM (IST)
China wants more talks before signing Trump’s ‘Phase One’ deal, quoting Agencies, reported CNBC-TV18.

Oct 14, 03:00 PM (IST)
Rupee Update: The Indian rupee erased all its morning gains and trading near day’s low at 71.07 per dollar, with domestic equity markets are trading near day high level.

Oct 14, 02:42 PM (IST)
Moody’s downgrades Indiabulls Housing: Shares of Indiabulls Housing Finance shed more than 4 percent on October 14 after Moody’s has downgraded company’s rating to B2 from Ba2 with negative outlook.

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