Extending their northward journey to sixth straight session, Indian equity benchmarks ended the session with gain of around three fourth of a percent on Friday.
Key benchmark indices edged higher in the week ended Friday, 19 June 2015. The barometer index, the S&P BSE Sensex regained the psychological 27,000 mark while the 50-unit CNX Nifty reclaimed the psychological 8,000 mark during the week. The market logged gains in all the five trading sessions of the week. The BSE Small-Cap and the BSE Mid-Cap indices underperformed the Sensex during the week.
The last trading day of the week saw some history being formed in intraday session above the 200 day EMA of 8,195 and it is imperative that markets hold ground above the same in the coming expiry week. Shares of M&M surged over 4% as the tractor sales are expected to see growth on the back of bountiful rains. Following the tandem, some of the notable auto stocks which gained across the exchange. Sun TV Network shares jumped 8% on reports that the Supreme Court attorney general has approved security clearance to Sun TV Network. Amtek Auto soared 6% erasing its most of the yesterday’s losses, after the company clarified that it has not issued foreign currency convertible bonds (FCCB) of $ 70 million.
Bullseye on US Market Data:
The June flash manufacturing PMI for China, the Eurozone, and the US will be released on Tuesday, 23 June 2045. In US, the Bureau of Economic Analysis will release the third estimate for Q1 GDP on Wednesday, 24 June 2015.
Stock For The Week: UPL Ltd.
The formation of inverted flag in UPL Ltd. future in daily chart shows that if breakout comes below 516 then it will further go down upto 478.