Market Wrap for 31st August, 2016

by Tufan Nag on Market Analysis, Market Wrap

For the 3rd consecutive day NIFTY 50 rallied and made a fresh 52 week high mainly due to the banking and financial stocks. It opened marginally higher and closed around 8786. It is up by approx 42 points. In the last half an hour the index tanked almost 30 points.

RBL Bank got listed at a premium of 21.6% over issue price.

Ultracemco at lifetime’s high supported by good volume.

Ambujacement has breached it’s crucial resistance around 278 and on the verge of making a double top.

To get an overview of the market click the video

 

 


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