Epic Research Update : Market Update

The market remained strong, though there is some profit booking at higher levels. However, the broader markets underperformed benchmarks. Banking & financials and auto stocks led the market higher.



The Sensex climbed 313.53 points or 1.08 percent to 29319.55 and the Nifty jumped 83.15 points or 0.95 percent to 8844.55 whereas the BSE Midcap and Smallcap indices traded flat.



Nifty, he says would reconsolidate between 8400-9000 and should not break above 9000 in a hurry but move up in a staggered manner.



Housing finance company HDFC extended rally, up more than 4 percent by topping the buying list on the Sensex. Tata Motors, Larsen & Toubro and Sun Pharma rallied 2 percent each.



HDFC Bank, ICICI Bank, State Bank of India, Mahindra & Mahindra, Bharti Airtel, Cipla and Hero Motocorp gained 1-1.8 percent whereas GAIL topped the selling list, down 1 percent followed by Infosys and Dr Reddy’s Labs with marginal losses.

Posted in: Indian Market Tips