Dealing Room Check:- The biggest decline was seen in the IT and Pharma sectors in the market today. Both sector indexes slipped about 3%. Among IT companies, LTIM, BSOFT, Persistent slipped 4 to 6%. Along with this, pressure was also seen in PSUs and metal shares. Buying was seen in select FMCG stocks. Laurus Lab and CDSL witnessed huge decline. Both these shares became ACCIDENT OF THE DAY. After America’s withdrawal from WHO, Laurus Lab’s stock fell 12% due to fear of pressure in its anti-retro viral revenue and became the top loser in futures. CDSL also slipped 9% after weak results. Here, today the dealers advised their clients to place bets in the shares of BSE and Delhivery.
CNBC-Awaaz’s Yatin Mota quoted sources in the dealing rooms as saying that today dealers have sold the shares of the exchange company. Dealers have advised their clients to sell BSE shares. According to dealers, there is a possibility of 2-3% fall in the shares. Dealers have advised to sell STBT in stock i.e. today and buy tomorrow. Dealers say that this stock seems to be below the important technical support level.
Growth expected to be better in Q4 and volume to improve in next few quarters – Asif Malbari, CFO, Godrej Consumer
As for other stocks, dealers today gave bearish opinion on logistics sector shares. Yatin Mota said that dealers have advised to sell the shares of DELHIVERY. According to dealers, there has been selling of shares by HNIs. According to dealers, the stock may see targets of Rs 290-300. Dealers advise to go short in this stock.
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