May 06, 2020 / 04:13 PM IST

Bajaj Finance, M&M, GAIL, HDFC Bank and Bharti Airtel were among major gainers on the Nifty, while losers were Bharti Infratel, ITC, Coal India, IOC and UPL.

  • May 06, 2020 / 04:30 PM IST

    Sahaj Agrawal, Head of Research- Derivatives at Kotak Securities:

    We believe the undertone continues to remain positive and suggesting buying on dips from a trading perspective. Nifty has trend support at 8900 and interim support is seen at 9115. On the higher side we expect 9850/10000 to be tested in the next few weeks.

  • May 06, 2020 / 04:26 PM IST

    Gaurav Ratnaparkhi, Senior Technical Analyst, Sharekhan by BNP Paribas:

    The Nifty witnessed swings in both the directions on May 6. On the downside the 20 day moving average provided some relief to the bulls resulting in a bounce towards the key hourly moving averages. These averages have been posing as a crucial barrier for the last couple of sessions thus restricting upside. The resistance zone on the higher side now shifts lower to 9350-9400. On the flip side, todays low i.e. 9116 now becomes a key support. Fresh short position can be initiated once the low breaks on the downside.

  • May 06, 2020 / 04:21 PM IST

    Deepak Jasani, Head Retail Research, HDFC Securities:

    Technically, while the Nifty has bounced back, the underlying short term trend remains down. Further downsides are likely once the immediate support of 9117 is broken. Any pullback rallies could find resistances at 9347-9450.

  • May 06, 2020 / 04:16 PM IST

    Sumeet Bagadia, Executive Director at Choice Broking:

    Today, again the Index took the support of its 21 Days Moving Average which was placed at 9100 from where we saw a good recovery in the Nifty. At present level, the index has strong resistance at 9450 while downside good support comes at 9130-9100 level.

  • May 06, 2020 / 04:14 PM IST

    Ajit Mishra, VP - Research, Religare Broking:

    In yet another volatile trading session, the Indian markets swung both ways before ending the session with gains of nearly a percent. It was largely on the back of positive global cues while the domestic cues were muted. 

    We feel it’s just a breather after the recent slide and the bias would remain on the negative side till Nifty trades below 9700 zone. On the downside, we are eyeing 8900-9000 zone to be tested shortly. Traders should focus more on position management as we’re seeing erratic swings across the board.

  • May 06, 2020 / 04:09 PM IST

    Vinod Nair, Head of Research at Geojit Financial Services:

    Markets were volatile as 9100 levels held out as a key support for the Nifty in a day of mixed gains for its constituents. Financials led the gains, in anticipation of stimulus measures while FMCG, bluechip IT stocks and OMCs disappointed. The volatility in the indices is expected to continue as investors look out for trading cues in the form of Stimulus measures by the government and global market trends.

  • May 06, 2020 / 03:57 PM IST

    S Hariharan, Head - Sales Trading, Emkay Global Financial Services:  

     Nifty as well as broader indices continue to maintain their 4-week long stretch of higher highs and lows, suggesting that uptrend is intact, notwithstanding this weeks correction. Stable money market conditions showing up in a stable INR and flat G-sec yields have helped foreign investor sentiment. Institutional investors appear to be realigning portfolios with rotational sell flows visible in previous out-performing sectors such as FMCG and Pharma, and inflows into cyclicals like Autos and Infra stocks. From a technical standpoint, Nifty has a support at 9150 and upside resistance above 9400.

  • May 06, 2020 / 03:52 PM IST

    Rahul Gupta, Head of Research- Currency, Emkay Global Financial Services:  

     The month of May is usually a weak month for rupee. This week market remained range bound in between 75.50-75.80 range. The risk tone has been tepid and will remain like that on renewed US-China spat. The trade war can reignite going ahead and prop up the safe haven dollar demand. Also, coronavirus cases are increasing, stocking fears of second wave of infection. 

    Locally, there are concerns over macros, due to the extension in lockdown, Indias GDP is expected to fall near 1%. While, market is eagerly waiting for more stimulus measures from the government. So, the volatility in spot may continue and 75.30-75.50 will act as a strong support and we may see a bounce towards 76.50 level.

  • May 06, 2020 / 03:34 PM IST

    Market Close: After witnessing selling in the initial trade the benchmark indices regained the momentum and ended on positive note in the volatile session on May 6 with Nifty above 9,250 level.

    At close, the Sensex was up 232.24 points or 0.74% at 31685.75, while Nifty was up 65.30 points or 0.71% at 9270.90. About 1074 shares have advanced, 1223 shares declined, and 141 shares are unchanged.

    Bajaj Finance, M&M, GAIL, HDFC Bank and Bharti Airtel were among major gainers on the Nifty, while losers were Bharti Infratel, ITC, Coal India, IOC and UPL.

    Except FMCG and IT, other indices ended on positive note. BSE Midcap and Smallcap indices rose between 0.5-0.8 percent.

  • May 06, 2020 / 03:27 PM IST

    Kansai Nerolac Q4: The companys consolidated net profit was down 23.5% at Rs 65.4 crore versus Rs 85.4 croe and revenue was down 11.6% at Rs 1,080 crore versus Rs 1,221.2 crore, YoY, reported CNBC-TV18.

Reach out

Find us at the office

Mcevilly- Liposky street no. 40, 55778 Tórshavn, Faroe Islands

Give us a ring

Maliek Elvis
+23 188 845 957
Mon - Fri, 7:00-15:00

Say hello