View for the day - 22nd June, 2020

MarketView by Trade Brains Daily market analysis, updates and views for the next day. Get directly on your telegram. Join here: https://t.me/MarketViewTB

Market Views for the Day:

  • Markets started on a Positive note for the day with SGX Nifty Trading in Green at the beginning of session.
  • The Sensex Opened at 34892.03 and closed at 34911.32 . The high for the day way 35213.52 and the low for the day was 34794.40 . Sensex gained 0.52% for the day
  • Nifty Opened at 10318.75 , the high for the day was 10393.65 and the low for the day was 10277.60 . Nifty closed at 10311.20 . Nifty gained 0.65% for the day
  • Bank Nifty Opened at 21491.55 , the high for the day was 22078.25 and the low for the day was 21425.55 . Bank Nifty closed at 21708.35 . Bank Nifty gained 1.74% for the day

Top Gainers & Losers:

  • The Sector for the day : Pharma Sector
  • The Biggest news for the day came from Pharma sector. Glenmark Pharmaceuticals, Opened Gap-up on the news of them launching medicine for COVID-19. At a time the shares traded nearly 40% above the previous day close. It closed with 27% gains for the day.
  • The Top 5 gainers for the day were- Glenmark Pharmaceuticals, SMS Lifesciences India Limited, Indraprastha Medical Corporation Limited, Kirloskar Industries Limited, Suven Pharmaceuticals Limited,
  • The Top 5 losers for the day – Shekhawati Ploy-Yarn Limited, Sujana Universal Industries Limited, Impex Ferro Tech Limited, Bhagyanagar India Limited, LT Foods Limited

FII & DII data:
The Net FII buying for the day was Rs 424.21 cr. The Net DII selling was Rs 1287.69 crores.

Views for tomorrow:

  • Other things remaining constant, the market should have sustained bullish momentum for the day.
  • For Nifty, 10250 become an important support for the day. If the market continues to sustain above 10350, the next important level is 10450 & 10550.
  • For Bank Nifty, 21400 is a very crucial support. The important level on the upside are 22000 and 22400.

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1 Like

Glenmark, Cipla and particularly pharma sector performed quite well today!