Indian markets started on a positive note but witnessed profit booking at higher levels on May 19, as the S&P BSE Sensex slipped more than 500 points from its intraday high and the Nifty50 closed below 8,900.The final tally on D-Street: the Sensex was up 167 points at 30,196 while the Nifty rose 55 points to 8,879.Close Sectorally, action was seen in telecom, power, utilities, auto, while profit taking was seen in capital goods, energy, realty and banks. related news Technical View: Nifty forms Spinning Top pattern, traders cautious ahead of RBI policy Taking Stock: Indices end mixed as Nifty holds 11,100; metals, auto shine Brokerages initiate coverage on these 13 stocks in July for 13-94% upside On the broader markets front, the S&P BSE Midcap index rose 0.52 percent while the S&P BSE Smallcap index fell 0.20 percent.Technical breakdown on May 18 indicated that the market would see selling pressure at higher levels and that is what happened. The Nifty50 pared gains after hitting an intraday high of 9,030.Sentiment was also hit by India’s coronavirus infections going past the 1,00,000-mark.Market participants are also disappointed with the stimulus package ,which weighed on financials for the second day in a row…. Read full this story
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Taking Stock: Profit booking at higher levels, crucial support placed at 8,800 have 265 words, post on www.moneycontrol.com at May 19, 2020. This is cached page on VietMaz. If you want remove this page, please contact us.