Stock Market News,Sensex breaks 35K but 26 stocks give 10-30% return in 4 days

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Sensex breaks 35K but 26 stocks give 10-30% return in 4 days  

Volatility is expected to remain high due to scheduled derivatives expiry on November 29

It has been a roller coaster week for India markets. The S&P BSE Sensex had a touch and go moment with 35,000 while for Nifty it was for 10700 levels as well as 200-days moving average (DMA).
The S&P BSE Sensex fell 1.3 percent while the Nifty50 saw a decline of 1.4 percent for the week ended November 22. Indian market remained shut on Friday on account of a public holiday.

In the S&P BSE 500 index, as many as five stocks rose 10-20 percent which include names like RattanIndia Infrastructure Ltd, CG Power, Gammon Infra, Kwality, Diamond Power, Veto Switchgear, and 8K Miles Software Services Ltd.


 Markets ended the three weeks of winning streak even though the beginning was upbeat, citing favorable indications from recently concluded RBI meet.

“The major event for the Indian equity market would be the GDP data that is eyed at the end of this month along with expiry. The numbers would certainly give a medium-term directional view for broader indices and decide the breadth for coming months,”.

“That said, we have elections in major states and a lot would depend on the outcome of it. It is evident one can be vocal about volatility that is expected to come in and rise. Hence we may witness a directional play keeping above analysis in perspective. We expect the range for the market to be 10,600 to 10,220 and approach should be selling on any pullbacks,” he said.


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Source - Moneycontrol.com

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