Market Watch

Thursday 18 September 2014

Stock Trading Tips: Market Trims Losses


The S&P BSE Sensex which plunged over 100 points in trade on Thursday managed to bounce back over 300 points from intraday low of 26503.08, led by gains in TCS, ITC, ICICI Bank, RIL and L&T.
Tracking the momentum, the 50-share Nifty index also posted a smart recovery and the index is now trading near its crucial psychological level of 8050, supported by gains in consumer durable, pharma, oil & gas and realty stocks.
The Nifty was at 8036, up 60 points or 0.76 per cent. It touched a high of 8050.35 and a low of 7939.70 in early trade.
Sun Pharmaceutical Industries gains 2 percent. Merck & Co Inc said it had licensed its experimental psoriasis drug to Sun. First instance of an Indian company taking global rights for a novel drug, traders say. Deal strengthens Sun's presence in the U.S. skin market, also boosts revenue potential, traders add.
Sesa Sterlite (down 0.72%), Tata Motors (down 0.65%) and Mahindra & Mahindra (M&M) (down 0.55%) edged lower from the Sensex pack. 
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