ICICI Bank and Apollo Hospital among gainers while LTIMindTree, Adani Enterprises and Adani Ports drag indices down
Indian markets were trading nearly 0.5 percent lower on Monday with NSE Nifty at 19445 (down by 98 points) and BSE Sensex at 65140. Markets were largely following the global sentiment as Middle East is facing tense situation. The oil prices and gold gained last week but on Monday, both the commodities were trading lower. Indian markets could get support from lower levels and we could see a range-bound session today.
Among major losers in today’s session were LTIMindTree, Adani Ports, Adani Enterprises, NTPC, UPL and Tata Steel. Among automobile stocks, Tata Motors, Bajaj Auto and Hero MotoCorp were trading lower. The overall market sentiment is cautious and markets are looking forward to global cues.
Among gainers in today’s trade were ICICI Bank, Apollo Hospitals, Britannia and Bajaj Finance.
Among major losers today were Laurus Labs as there were reports of nearly 35 percent decline in valuation of the stock after dismal quarterly numbers. As per ICICI Securities, PAYTM looks good for long term investment at current levels.
All trades should be conducted with strict Stop Loss. Markets can have unpredicted moves based on news and trends in the global markets. Stop Loss is an important strategy to reduce the risk in case the stock doesn’t move as per the call given by market experts.