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2. Nifty 50 Index
Bank Nifty Index
INDIAN INDICES CONTINUED
WITH THEIR DOWNTREND
FOR THIRD CONSECUTIVE
DAY
Negative end for the market
for this week as tomorrow is
a trading holiday on account
of Guru Nanak Jayanti. The
Nifty has given up 10,550-
mark.Private Banks were
major contributors to the
Nifty Bank’s
underperformance. Telecom
pack, too, saw some
pressure. Among sectors,
financials, consumption,
energy, metals and pharma
saw the most losses, while
selling was visible in the
midcaps space.
At the close of market hours,
the Sensex was down 218.78
points (0.62%) at 34981.02,
while the Nifty was lower by
73.20 points (0.69%) at
10526.80. The market
breadth was negative as
1093 shares advanced,
against a decline of 1489
shares, while 153 shares
were unchanged.
ZEEL, ADANIPORTS, LT, HDFC
were the top gainers among
Nifty 50 stocks while
M&M,GRASIM,HINDALCO
were top losers.
On Monday Indian Indices
will likely to open on flat to
bearish note. Trend of the
market will be guided by the
trend of Indian rupee and
crude prices. Keep your eyes
on finance and banking
sector.
.
Market
Commentary
11/26/2018
3. ASTRAL POLY TECHNIK LIMITED
Astral has formed bullish flag pattern on daily charts and has
registered a breakout with good volume. Stock is having
consolidation above its 50 and 200 DMA. The stock is forming
rounding pattern lower to upper level and reversed from
bottom levels after taking support on moving averages.
PLASTICS sector has been showing resilient move in the recent
past. The Stock has closed above its 200-DMA resistance.
Oscillators and Indicators have also turned bullish on the short
to medium term charts. ASTRAL buy recommended around
1055-1057 target is 1105-1148 with stop loss below 964.
Stock to Watch for Monday
4. Domestic passenger growth during the month of October slowed a bit
and registered a growth of about 13.34% during October compared to
that a year ago, data released by the aviation regulator showed. As per
the data, released by the Directorate General of Civil Aviation (DGCA) on
Monday, Indian carriers carried 11.8 million passengers during the
month, up from 10.5 million in October 2017.
Travel industry insiders say that the growth is the same as earlier
months due to a higher base affect in October last year. As a result, all
key scheduled carriers reported lower load factors than past month but
flew their planes with close to 80% of their seats full. Gurgaon-based
SpiceJet continued to maintain its pole position in terms of load factor
by flying its planes 90.8% full, followed by GoAir, which flew its planes
with 84.1% followed by IndiGo that flew its flights with 83.1% seats full.
Apollo Tyres Thursday said it has roped in Sachin Tendulkar as brand
ambassador of the company for five years. This is the first time that the
company has associated with a celebrity as the face of its brand.
"Building the Apollo brand to its true potential is key to our growth. By
securing Sachin Tendulkar's association with our brand, we have
embarked on an exciting journey together. I am sure this partnership will
help us go the distance," Apollo Tyres Vice Chairman and Managing
Director Neeraj Kanwar said in a statement.
The government Thursday approved a proposal making jute packaging
mandatory for all food grains. The decision was taken at a meeting of
the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime
Minister Narendra Modi here. "The CCEA approved that 100 per cent of
the food grains and 20 per cent of the sugar shall be mandatorily packed
in diversified jute bags," an official statement said. The move, which
expanded the scope of Jute Packaging Material (JPM) Act, 1987, retained
an earlier decision that 20 per cent of the sugar shall be mandatorily
packed in diversified jute bags.
Earlier, it was compulsory to pack 90 per cent of the food grains and 20
per cent of the sugar in jute bags.
News Highlights:
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