The Nifty was up by 5 points touching 9857 and the sensex was up by 28 points touching 31596. The markets are not giving a clear direction, they are in a trading range, giving opportunities to both buyers and sellers. One has to be careful in such markets were the undertone is bullish.
40 stocks have more than doubled, to give upto 500% returns in 2017. Yes, some stocks might do well but some stocks can wipe out the entire net worth. This week was quite eventful, with Infosys head Sikka, quitting in a huff and criticism from both the board and promoter Narayan Murthy, regarding the behaviour each one throwing punches at each other. With the news that Nandan Nilekani might be made the head, Infy went up thereby making Investors happy. According to Ambreesh Baliga if the Nifty crosses 10,000level, the selling in market might take place.
The markets are eagerly waiting for the results of Jackson Hole meet. Today the Nifty ended 0.2% higher but the broader market underperformed.PSU Banks gained after a alternative mechanism for merger announced by the Government. Pharma stocks were in the limelight as analysts feel, they are attractively valued. Liquor stocks soared after S.C clarified Highway liquor ban is not applicable within city limits. Investors should stick to Private Banks, as public sector banks, are known for high NPA and corruption among staff in lending.