Wednesday, 4 May 2016

Market down, but not out; D-St to see new bull run soon; time to buy on dips?

ET Market

ET Markets Daily Brief | Wed, May 04, 2016 | 05:58 PM IST

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Market down, but not out: Veterans say Dalal Street to see a new bull run soon

While the domestic equity market has entered a new consolidation phase after a bounce through March and April, Dalal Street veterans continue to sound bullish.

Tech view: Hammer pattern on Nifty charts shows market is in mood to bounce back

The Nifty50 formed a Hammer pattern on the daily technical charts, which suggested buying on dips can be a good trading strategy for investors going ahead.

Here's what happened on Dalal Street all through Wednesday

If you are reading this, chances are the Sensex and the Nifty are part of your daily life, and actions on Dalal Street can make or mar your day.

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Market Watch 4 May | 05:58PM|
SENSEX NIFTY USD/INR GOLD
25101.73
-127.97
7706.55
-40.45
30190.00
-34.00
Gainers Losers 4 May, 2016, 05:58PM IST, PTI|View All
Company Name Live Price Change (%) Volume High Low
HOV Services Ltd. 97.30 19.98 484491 97.30 86.15
iStreet Network Ltd. 24.30 14.35 135836 25.50 20.25
Jindal Hotels Ltd. 42.00 14.29 27615 43.95 35.30
Tweet of the day...
FROM THE NEWSPAPER
Buy stocks on dips, earnings showing signs of recovery, equity can grow 20%

The domestic equity market has made a nervous start to May with the benchmark indices losing up to 2 per cent of their values in the first three sessions.

Rupee rally runs out of steam, currency may test 68 level soon

Rupee was hovering around 68.5 till Feb amid doubts over the govt's ability to stick to fiscal prudence and expectation of 3 rate hikes by US Fed this year.

Gold at $1,300: Central bank actions, dollar move to determine where it goes from here

The bullion market is pleasantly surprised. After some consolidation in the mid-$1,200 levels, gold prices have zoomed to test $1,300 an ounce level.

Parag Milk Foods IPO opens, subscribed 10% on Day 1

IPO of Parag Milk Foods received bids for 19.71 lakh shares, or 10 per cent of the total issue size of 1.91 crore shares.

Flipkart stake marked down 20% further by 2 investors

Valic marked the value of their Flipkart shares at $98.19 per unit for February quarter, down 20.2% from $123.11 assigned at the end of November 2015.

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