INSUBCONTINENT EXCLUSIVE:
The Indian equity benchmarks rebounded after witnessing their worst day in over seven months in the previous session led by gains in
Reliance Industries, Kotak Mahindra Bank, Tata Consultancy Services, HDFC Bank and Infosys
The benchmarks staged a gap down opening but soon recovered their losses with Sensex rising over 1,200 points from day's lowest level and
market which can lead to the levels of 17,600
We have observed that indicators like relative strength index (RSI) and moving averages convergence divergence (MACD) are indicating early
signs of reversal in the market," said Vijay Dhanotiya, Senior Research Analyst at CapitalVia Global Research.Twelve of 15 sector gauges
compiled by the National Stock Exchange ended lower led by the Nifty PSU Bank index's 2 per cent fall
Nifty Realty, Oil - Gas, Healthcare, Pharma, Media and Auto indices also fell between 0.5-2 per cent.On the other hand, select IT, Consumer
Durables and Financial Services shares witnessed buying interest.Mid- and small-cap shares underperformed their larger peers as Nifty Midcap
100 index fell 1.35 per cent and Nifty Smallcap 100 index dropped 2.6 per cent.Kotak Mahindra Bank was top Nifty gainer, the stock rose 2.4
per cent to close at Rs 2,011 after the Reserve Bank of India of allowed Life Insurance Corporation of India to increase stake in the
bank.Reliance Industries advanced over 1 per cent after its telecom arm Reliance Jio Infocomm raised tariffs over the weekend
HCL Technologies, HDFC Life, Titan, Wipro, Bajaj Finserv, Bajaj Finance, Hindalco and HDFC Bank also ended higher.On the flipside, Bharat
Petroleum, Sun Pharma, Adani Ports, UPL, NTPC, ONGC, Axis Bank, Indian Oil and Hero MotoCorp ended lower.The overall market breadth was
extremely negative as 2,434 shares ended lower while 966 closed higher on the BSE.
