Nifty struggles to hold 8150; ITC, HUL, Asian Paints laggards

Share prices of Bank of Maharashtra rose 4 percent intraday Thursday as it has decided to raise capital through FPO/Rights issue/QIP etc., upto Rs 1000 crore, subject to the necessary approvals. The company has posted a net loss of Rs 119.84 crore for the fourth quarter ended March 2016 due to rise in bad loans.

The market is still slipping away as the Nifty is struggling to hold 8150. The 50-share index is down 17.70 points or 0.2 percent while the Sensex is down 49.18 points or 0.2 percent at 26664.75.

Coal India, Hero MotoCorp, Tata Motors, Bharti Airtel and Infosys are gainers while HUL, ITC, Asian Paints, Wipro and Lupin are losers in the Sensex. Oil prices were flat as investors awaited the outcome of an OPEC meeting later in the day in Vienna.

BUY ENGINEERS INDIA FUTURE ABOVE 190 TG 195, 203 SL 185,

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The market has touched three-month high with the Sensex rising 212.81 pts to 27500.47 and the Nifty climbing 55.45 points to 8307.15.

The broader markets underperformed benchmarks; the BSE Midcap and Smallcap indices rose 0.5% each.

Software services provider KPIT Technologies surged 13% as it has reported excellent performance in July-September quarter with profit rising 69%  sequentially to Rs 75.08 crore on strong improvement in operating profit performance.

Cairn India rose 3% after beating analysts' expectations on bottom line front. Profit declined 19.4 percent sequentially to Rs 672.7 crore in July-September quarter against forecast of Rs 575 crore.

GAINERS AND LOSERS:- ITC, ICICI Bank, Reliance Industries, HDFC, SBI, Tata Motors, Lupin, ONGC and Axis Bank gained 1-2 percent while Bharti Airtel and Wipro lost 1.5-2 percent. Wipro missed expectations on guidance front. It expects Q3FY16 IT services dollar revenue in range of USD 1,841-1,878 million, a growth of 0.5-2.5% over Q2.

BUY RUSHIL DECOR ABOVE 274 TG 276, 279, 283 SL 271,

BUY LT FOOD ABOVE 239 TG 241, 244, 248 SL 236,

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