Market Walk 10th January, 2016:
Positive start kept momentum driven by banks and autos.
Among the top gainers were Tata Motors by 3.55% to 517.9, Adani Ports by 3.23% to 293.9, Tata Motors DVR by 2.93% to 327.0, Tata Steel by 2.35% to 431.9.
Among the top losers were Axis Bank lost 1.09% to 447.8. Grasim by 0.95% to 850.45, ACC by 0.79% to 1313.30, Dr Reddy by 0.59% to 3042.0, Cipla by 0.52% to 573.7.
Domestically, verdict of five state elections in March, Union Budget in February, developments over rollout of GST and other executive actions hold key to earnings and sentiments. Global factors that are likely to dictate trend in the markets include US President-elect Trump's economic policies, outcome of the French and German elections, how the UK manages 'Brexit' and the path of CNY. IndusInd Bank gained 0.2 percent today after slightly better-than-expected quarterly earnings. The private sector lender reported a 29.2 percent growth in profit and 34.5 percent in net interest income on yearly basis while its asset quality moderately weakened during the quarter. Hindalco Industries shares rallied 4 percent.
Stocks to Watch: SBI is on up side while Cipla is on down side.
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