Nifty opens below 8800, Sensex falls over 100 pts; TCS, RIL up. For more information visit www.marketmagnify.com/freetrial.php & give missed call @ 78-79-88-11-22.
- The market has opened low dragged by profit booking and weak global cues. The Sensex is down 148.90 points or 0.5 percent at 28519.32 and the Nifty is down 46.45 points or 0.5 percent at 8785.10. About 435 shares have advanced, 444 shares declined, and 69 shares are unchanged.
- TCS, Reliance, Dr Reddy's Labs, Sun Pharma and Lupin are top gainers while Tata Motors, ICICI Bank, ITC, Adani Ports and HDFC are losers in the Sensex.
- Short term outlook for the market
remains negative till Nifty trades below 8970 levels & expecting targets in
the range of 8,650-8,540 levels in this short term correction.
Top stocks sold and bought by fund managers in August
- India's equity fund managers, flushed with robust inflows in August, were quite choosy when it came to picking stocks. Amid net inflows of Rs 6,500 crore, they were net buyers of shares worth Rs 2,700 crore. However, while making investments, they kept India's largest lenders - private as well as public sector banks - among their top priorities. They heavily sold shares of Axis Bank and shifted to counters like HDFC Bank, ICICI Bank and State Bank of India, in search of value. RBL Bank, the new bank to list on the bourses, was the fourth most sought after counter.