The WPI inflation July month rose to 79% in July as compared to 4.86% in June month. ET Now poll had expected it to ease marginally to 4.8 per cent. Primary Articles inflation increased to 8.99 per cent vs 8.14 per cent in June and Fuel & Power inflation moved up to 11.31 per cent vs 7.12 per cent in June.
The B&P BSE sensex high 100 points after paring intraday gains in Knee-jerk reaction to WPI inflation, with support near day high even as European market. They expected nifty was see profit booking around 5750-5800 levels.
Today market closing position:-
The Sensex ended 137.75 points or 0.72% up at 19367.59
The Nifty closed 43 points or 0.75%up at 5742.30
The bank nifty ended 40.75 points or 0.41% at 10026.40
Key among gainers indices FMGC, Bankex, Auto, Metals, Oil & gas, Reality with losers Healthcare, IT.
BSE gainers :- JP Power 15%, Tata motors 9.67%, Amara Raja 8.04%, TCS 7.31%, Hindalco 7.16%, Bharat petroleum 6.29%, DLF 5.85%, NMDC 5.11%.
BSE losers:- Financial Tech 13.51%, Yes bank 5.63%, Federal bank 4.56%, Siemens 2.79%, Glenmark pharma 2.61%, Muthoot Finance 2.59%, Reliance capital 2.47%, Central bank 2.18
%, Hind Copper 1.79%.
Tomorrow 16 Aug market strategy and stock nifty trading call
BUY HDFC with targets 620/624/628 Stop loss 590
BUY Infosys with targets 3085/3095/3105 Stop loss 3040
BUY Reliance infra with targets 361/362/365 Stop loss 350
SELL Dena bank with targets 48/47.50/47 Stop loss 51.50
Independent special offer:-
Fill your Free trial form and Aug-Sep full month free trading tips