Market Mantra

After hovering near flat line in morning trade, key equity indices bounced back in mid-morning trade. At 12:10 IST, the barometer index, the S&P BSE Sensex, was trading at 35,300 up 158.90 points while Nifty was seen at 10,6184 up 2.65 points. 

Most metal and FMCG shares advanced.

Among secondary barometers, the BSE Mid-Cap index was up 0.17%. The BSE Small-Cap index was down 0.03%.

The market breadth, indicating the overall health of the market, was negative. On BSE, 931 shares rose and 1249 shares fell. A total of 109 shares were unchanged.

Alkem Laboratories rose 1.23% after the company said that USFDA has concluded inspection at its Taloja facility. The announcement was made after market hours yesterday, 14 November 2018. Alkem Laboratories said that USFDA had conducted an inspection at the company's Bioequivalence facility located at Taloja, Maharashtra from 8 November 2018 to 14 November 2018. At the end of the inspection, no Form 483 was issued.

Overseas, most Asian shares were trading higher after an improvement in market risk sentiment after British Prime Minister Theresa May said she had obtained enough support for her proposed Brexit deal to move forward. The uncertainty surrounding a deal had earlier weighed on risk sentiment.

US stocks closed lower Wednesday, with the Dow Jones Industrial Average logging its longest losing streak in three months, as blue-chip Apple Inc. flirted with bear-market territory.

Meanwhile, US Federal Reserve Chairman Jerome Powell on Wednesday expressed confidence in US economic strength and said that markets will have to get used to the idea that the central bank could raise rates at any time starting in 2019.

On the US data front, the Labor Department said the consumer-price index rose by 0.3%, while core CPI, excluding volatile food and energy prices, rose 0.2%.

#Sell the shares of Jet Airways Ltd at around the CMP of Rs.275.15, for short term targets of Rs.210/189. It has a negative worth. Its outstanding to employees, vendors, oil companies, AAI, maintenance contractors, lessors & other suppliers has crossed Rs 12,000 Cr, according to a report in Rediff.com. The Stop Loss for Jet Airways Ltd is Rs.285 and Rs.292 (exit completely), in case the stock does not perform as expected. SELL, SELL, SELL!!

#A2z Infra Engineering Ltd (Rs.13.85) yesterday made an intraday high of Rs.13.85, while today it touched Rs.14.50, intraday. Buy the shares on all market declines.

#The scrip of Omkar  Speciality Chemicals Ltd is trading at around Rs.12.55 in the BSE, up 2.12%. Accumulate on declines.