Day trading guide for today: Six buy or sell stocks for Wednesday —August 2
Day trading guide for today: Domestic equity benchmarks Sensex and Nifty ended lower during Tuesday’s session on profit-booking select heavyweights, including Reliance Industries, Power Grid, State Bank of India, and ICICI Bank amid mixed global cues. Sensex remained volatile throughout the session and closed 68 points, or 0.10 per cent, lower at 66,459.31 while Nifty closed the day with a loss of 20 points, or 0.10 per cent, at 19,733.55. The BSE Midcpap index underperformed the benchmark Sensex, falling 0.23 per cent.
The index hit its record high of 30,497 in intraday trade but failed to sustain the gains. The BSE Smallcap index, on the other hand, ended with a gain of 0.50 per cent at 35,177.85 after hitting its record high of 35,257.68 during the session. Most indices suffered losses, however, Nifty IT index ended with a healthy gain of 1.20 per cent with all components in the green.
Nifty Metal (up 0.18 per cent), Pharma (up 0.06 per cent) and Private Bank (up 0.02 per cent) also inched up. On the other hand, Nifty Realty fell 1.77 per cent, ending as the top loser among sectoral indices. Nifty Healthcare and Oil & Gas indices fell 0.42 per cent and 0.38 per cent respectively.
Nifty Bank also fell 0.13 per cent. On the outlook for Nifty today, Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services observes that Nifty soon gave up its initial gains to close flat at 19,734 levels. ‘’Action was seen in Nifty small cap 100 – up +0.7 per cent.
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