stock talk

While Nifty closed 281 points down at 18,841, Sensex fell 900 pts to close 63,148.

Sensex is down by 832 points at 63,216 points in morning trade amid massive selling the markets.

“But any correction in quality large-caps should be bought into at these levels, the report said.

The Sensex fell 825.74 points to close at 64,571.88.

Things seemed to be going well when the skirmish flared up and it now portends to be a religious war of sorts panning out. It’s the Muslim brotherhood versus Jews and Christians. Most unfortunate.

Earnings growth has been democratised in India with broader participation across companies, which is reflecting in SMIDs enjoying their time in the sun. Fragmented industrial sectors, with no clear leaders, reinforce the momentum, Emkay Global Financial Services said in a note.

IT companies reported sluggish topline growth due to delay in execution (largely at the client end) but margins improved.

At the end of the week, BSESENSEX lost 885.12 points or 1.34 per cent to close at 65,397.62 points while NIFTY lost 208.40 points or 1.06 per cent to close at 19,542.65 points. The broader markets saw BSE100, BSE200 and BSE500 lose 1.18 per cent, 1.20 per cent and 1.09 per cent respectively. BSEMIDCAP lost 1.31 per cent while BSESMALLCAP to show a different face actually registered gains, though minuscule of 0.04 per cent.

Nifty opened lower and remained negative throughout the session to close with loss of 82 points at 19543 levels. Selling continued in broader market with Nifty mid/small cap 100 indices down -1 per cent/-0.8 per cent. Except Private Bank, all sectors ended in red, he said.

The Nifty metal was down by 0.88 per cent. Market confidence has been negatively impacted by the Israel-Hamas conflict, FII outflows, and the poor Q2 earnings of major firms, he added.