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NIFTY analysis with experts, BSNL neck deep into losses, Indian markets remain range bound…. Market updates for 14/12/18

PurpleTrades - stock market courses > News > NIFTY analysis with experts, BSNL neck deep into losses, Indian markets remain range bound…. Market updates for 14/12/18

Report by- Sabyasachi Bhattacharya

 

BSNL losses pile up to Rs 7,992 crores in 2017-2018-

State-run telecom firm BSNL’s annual loss widened to Rs 7,992 crore for the fiscal year ended March 2018, Parliament was informed. According to financial data shared by Telecom Minister Manoj Sinha in the Lok Sabha, BSNL had posted a loss of Rs 4,793 crore in 2016-17. The reason for the widening of loss was not given in the reply. As per another set of data shared by Sinha, the market share of the state-run firm in the broadband segment declined to 10 percent by the end of the financial year 2018 from 19 percent in financial year 2009. The broadband share of the public sector firm has remained stable at 10 percent since fiscal year 2016. “…mobile expansion project is under rollout which envisages introducing 4G services in BSNL. This will also increase GSM Radio capacity, mobile coverage and provide faster data connectivity,” Sinha said.

Source- MoneyControl, Purple Trades Research Department 

 

 

Indian markets trades in range-bound manner amidst high volatility-

Chart source- ChartInk

Indian markets had a day of indecisiveness today as both BULLS and BEARS took charge of the markets equally. As you can see on the chart given above Nifty had a GAP-DOWN opening today after which the Index started moving upwards and then incurred a 10,810 resistance after which it started moving downwards. After incurring the resistance it bounced back. The rest of the day the market remained volatile but moved in a range bound fashion. Benchmark indices ended positive but remained flat throughout the day with Nifty close just above 10,800 mark. At the end, Sensex was up 33.29 points at 35962.93, while Nifty was up 14 points at 10805.50. About 1249 shares have advanced, 1287 shares declined, and 145 shares are unchanged. Benchmark indices continued to be volatile in afternoon after rising for previous third consecutive sessions. Bharti Airtel, Yes Bank, ONGC, NTPC and Asian Paints are the top gainers on the Sensex, while losers are HDFC, Wipro, L&T, Adani Ports and Bajaj Auto. Among sectors, except pharma and metal all other sectoral indices ended in green, while midcap and smallcap stocks ended flat.

 

 

Let’s take a look at the heat map-

 

Let’s take a look at the performance of major Indices-

Global markets turned all RED today. US market Index NASDAQ remained RED along with CAC, DAX and FTSE of European markets. Asian market Indices NIKKEI and Strait Times and HANG SENG remained RED as well.

Source- MoneyControl, Purple Trades Research Department 

 

Key Points for Traders to watch out for while trading Nifty tomorrow-

  • 10,770 is a short term support for Nifty.
  • If Nifty breaks 10,770 then it has the potential to go down.
  • 10,840 is a short term resistance for Nifty.
  • If Nifty breaks 10,840 then it has the potential to go up.

 

Top sectors that moved the market today- Data source- Moneycontrol

 

 

Top Gainers for today-   Data source- Moneycontrol

 

 

Top losers for today- Data source- Moneycontrol

 

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