Winning Strokes: Think Different

Key benchmark indices logged modest gains on last trading day of the week led by index pivotals Reliance Industries, Mahindra & Mahindra and ICICI Bank. The barometer index, the S&P BSE Sensex, gained 147.01 points or 0.38% to settle at 38,389.82. The Nifty 50 index rose 52.20 points or 0.45% to settle at 11,589.10.

The S&P BSE Mid-Cap index rose 1.15%. The S&P BSE Small-Cap index rose 0.55%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 1533 shares rose and 1168 shares fell. A total of 190 shares were unchanged.

Among the sectoral indices on BSE, the S&P BSE Telecom index (up 3.35%), the S&P BSE Auto index (up 2.07%), the S&P BSE Metal index (up 1.96%), the S&P BSE Basic Materials index (up 1.36%), the S&P BSE Consumer Discretionary Goods & Services index (up 1.28%), the S&P BSE Energy index (up 0.91%), the S&P BSE Healthcare index (up 0.89%), the S&P BSE Oil & Gas index (up 0.79%), the S&P BSE FMCG index (up 0.65%), the S&P BSE Teck index (up 0.65%), the S&P BSE Realty index (up 0.61%), the S&P BSE Utilities index (up 0.55%), the S&P BSE Industrials index (up 0.54%) and the S&P BSE IT index (up 0.41%), outperformed the Sensex.

The S&P BSE Consumer Durables index (up 0.32%), the S&P BSE Capital Goods index (up 0.05%), the S&P BSE Finance index (down 0.02%), the S&P BSE Bankex (down 0.04%) and the S&P BSE Power index (down 0.08%), underperformed the Sensex.

Overseas, European shares were mixed while most Asian stocks were trading lower amid ongoing concerns about global trade and emerging markets. Overall, market sentiment was dragged by ongoing concerns over a trade war between the United States and China. On Thursday, President Donald Trump told the media that he will take his trade fights to Japan next. The news sent the dollar lower against the yen on Friday morning.

US stocks fell yesterday, 6 September 2018, amid renewed selling in technology shares as the Trump administration eyed escalating the trade war and concerns mounted over flagging demand for computer chips.

As per reports, turmoil in Argentina and Turkey, as their currencies continue to sink on deteriorating confidence, is dragging on the global market as investors fear a spillover effect on other healthier emerging markets and beyond.

On the trade front, the US and Canada continued high-stakes negotiations in the effort to revamp the North American Free Trade Agreement, which President Donald Trump said he is prepared to move forward with even without Canada's participation.

On the data front, the Institute for Supply Management's August read on the services sector rose to 58.5% from 55.7% in the previous month, while the final IHS Markit reading on the services purchasing managers index fell to 54.8 in August from 56 in July.

#Mandhana Industries Ltd hit another buyer freeze at Rs,7.50 in the NSE as Salman Khan got a favourable verdict from a sessions court. The company's shares have been moving up vertically, after its excellent quarterly results. It was repeatedly recommended in this blog at around Rs.4.65.

#The stock of P C Jewelers Ltd closed flat at Rs.86.30 in the NSE after touching a high of Rs.87.30 during intraday trading. Stock should see higher prices in the coming days, as festive buying gathers momentum, 

#Today the scrip of Petron Engineering Construction Ltd was recommended to the Premium Members at around Rs.48.80. The stock made an intraday high of Rs.52 in the BSE before closing at Rs.51.20 or above a key resistance levels. We can expect upper circuits in the coming days. Remain invested.

~~with inputs from Capital Market - Live News....