1318: A morning walk down Dalal Street | Decisive range breakout is necessary to commence next leg of rally
Publisher |
moneycontrol
Media Type |
audio
Categories Via RSS |
Business
Publication Date |
Jun 17, 2019
Episode Duration |
00:07:03
Benchmark indices might have moved in a narrow range, but the big carnage was seen in the small midcaps which fell up to 30 percent in five trading sessions. Indian markets ended the week on a negative note with cash strap, and debt-laden companies bear the brunt of brutal sell-off. The sell-off intensified on Friday afternoon on news reports that India would impose retaliatory tariffs on US goods. The SP BSE Sensex fell 0.4 percent compared to 1.2 percent fall seen in the SP BSE Midcap and about 2 percent drop seen in the SP BSE Smallcap index. The SP BSE500 index which represents nearly 93 percent of the total market capitalization on the BSE fell 0.7 percent in the same period. The fall in the index was led by stocks from both Small Midcap space which include names like The Lakshmi Vilas Bank, Indiabulls Real Estate, Dilip Buildcon, Jaiprakash Associates, Reliance Power, Yes Bank, Reliance Capital, and Jet Airways among others.

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