A morning walk down Dalal Street | Nifty may slip below 11,500 if support of 11,560 is broken
Episode 1457, Jul 19, 2019, 01:30 AM
Bears regained control of D-Street after 3 straight sessions of gains on Thursday and pushed the Nifty50 index below 11600 while Sensex also gave up 39000 towards the close.
The Nifty50 found resistance near its 50-days EMA placed at 11685. The next big support for the index is near 100-DMA placed at 11560
Trade war concerns led to a fall in US markets on July 17 while muted results from India Inc were a dampener for domestic investors.
More than 300 stocks hit fresh 52-week low which include names like Bosch, Maruti Suzuki, HEG, MindTree, M&M, YES Bank, Cox & Kings, and Reliance Power etc. Among others.
Foreign portfolio investors (FPIs) should consider the option of structuring themselves as companies rather than trusts to avoid paying the increased surcharge announced in Budget 2019, Finance Minister Nirmala Sitharaman said, in a discussion on the Finance Bill in the Parliament on July 18.
Foreign institutional investors have been net sellers in the equity segment of Indian markets, pulling out more than Rs 4,000 crore till now in July, SEBI data showed.