Market Update: Equity benchmarks recouped previous session’s losses on Monday, ending at fresh record closing high as investors cheered better macro data that raised hopes for a rate cut. Even a likely early start to the monsoon also lifted sentiment. The 30-share BSE Sensex was up 133.97 points at 30,322.12 and the 50-share NSE Nifty rose 44.50 points to 9,445.40, backed by banks, FMCG, metals and pharma stocks.
The broader markets outperformed benchmarks, with the BSE Midcap index up 1.25 percent and Smallcap up 0.78 percent despite the gap between advances & declines narrowed. About 1497 shares advanced against 1315 declining shares on the exchange.
BUY TGBHOTELS ABOVE 70 TARGETS 71, 72, 73 STOPLOSS 69
BUY V2RETAIL ABOVE 232 TARGETS 235,238,241 STOPLOSS 229
RESISTANCE: 9455 , 9465
SUPPORT: 9430, 9415
APPROACH: BUY ON DIPS