Stock Markets To Trade In A Range bound Manner On Friday - Brokers Outlook
Bharat Thakur, assistant manager, Karvy Stock Broking stated that today market closed after making a profit of 50 points, though it opened its eyes very positive only to discard the majority of its gains. It traded in a range for the whole day.
Today banking region was good, particularly SBI and Kotak Bank. Reliance Industries also increased 2% that provided back up to the market.
Mr. Thakur anticipates stock market to trade between range of 15,200 and 14750 to 14,800 level on Friday’s trading session. It would linger in a range of up or down 200 points. He also said that capital good companies such as L&T, BHEL and metal companies including Tata Steel will trade healthily on Friday (August 3).
While commenting on F&O section, Bharat Thakur alleged that there was less volume figured in derivatives market today. On Friday, Nifty Futures are about to trade between 4,300 to 4,400 level.
Kartik Sadagopan, analyst, KJMC Capital Markets told that today (August 2) market was pretty bad and it exhibited a few signals of improvement but was not capable of sustaining that because of profit booking. IT sector under-performed markets today. Heavyweight stocks such as Infosys, Satyam, Wipro dragged the index down. Auto sector did not perform because of less than expected monthly numbers. Among banks SBI picked up.