Market Snaps Two Days Winning Streak As Fresh Concerns Mount Over Paris

 Market Wrap-up:

Market snaps two days winning streak as fresh concerns mount over Paris.

A market which looked set to extend gains for the third consecutive trading session, turned direction and fell more than 1 percent after tension gripped Paris in the wake of fresh gun firing. Nifty ends below 7750 mainly led by banking & Financials, IT and metal stocks.

  

HEADLINES FOR THE DAY:

• Cabinet toady approves 10 pct divestment on Coal India.
•  Pipavav defense gains for second day after RBI ups FII limit.
• Dr Reddy's Lab acquires Fondaparinux sodium property rights.
• Dishman Pharma moved higher as clarifies reports on Clovis issue.

STOCKS WERE IN FOCUS:

• GMR surged as the amalanga energy plant gets a favorable tariff order from CERC, which will boost the company's operating profit.
• Railway stock such as kalindee Rail Nirmal, BEML moved higher with volumes after Cabinet approves 4 railway projects worth Rs. 7500 crore.
• Sugar shares rallied for the second day in a row on hopes of higher realizations on account of low production of sugar during this monsoon season.
• Hindalco shares tanks on the back of reports that the company plans to raise up to US$1.5 billion through bond Issue.
• Aviation stocks were in focus as CCI fines for cartelization and aviation companies like jet airways, indigo have decided to challenge CCI's order of Rs 2.58 billion penalty for concerted action in fixing and FSC (revising fuel surcharge) for transporting cargo.
• Gammon India rallied in a negative market as the company gives nod from the company’s board to transfer the Civil EPC business to reduce its high debt by raising fresh money in the new firm.
• Maruti Suzuki today reported that company expects 10 percent growth for the full year in financial year 16 on the back of Strong November sales.

CALLS FROM TECHNICAL FRONT:

• Astramicro EQ gains with huge trading volumes and able to give breakouts of strong resistance as well as close above it which indicates more buying from here. Buy above 147.70 targets 149.20/150.70/152.20 maintain SL of 146.
• The Haritaseat EQ trend is full bullish as the stock is trading near its fresh time high more buying seen in stock in coming sessions , buy above 430 targets 434.30/438.70/433 SL 425.

If you want more share market news updates, click My Blog And more info visit www.trifidresearch.com