Dealing Room Check:- A stormy pace was seen in auto and auto financing companies today. Eicher Motors climbed 7% after stellar sales figures. Ashok Leyland ran up 5%. A jump of 5% was also seen in Maruti. On the other hand, the stock of Chola Finance Company, which deals with financing of commercial vehicles, rose by about 5%. Shriram Finance also saw a rise of 3%. Along with auto, there was a stormy rise in IT shares also. Nifty IT INDEX rose by more than one and a half percent. A jump of three percent was seen in Infosys. Along with this, momentum was also seen in HCL TECH, LTIM, LTTS. Whereas, light profit booking was seen in government banks and realty. Here, today the dealers advised their clients to place bets in the shares of REC and Adani Port.
CNBC-Awaaz’s Yatin Mota quoted sources in the dealing rooms as saying that today dealers have bought shares in the power finance sector. Dealers have advised their clients to buy REC shares. According to dealers, short covering by FIIs has been seen in the stock. Dealers are advised to buy BTST in stock i.e. today and sell tomorrow. According to dealers, targets of Rs 525-530 are possible.
As for other stocks, dealers today gave bullish opinion on infra sector shares. Yatin Mota said that dealers have advised to buy shares of Adani Port. According to dealers, buying of banking shares by domestic funds has been seen. Dealers have expected a rise of Rs 40-50 on this stock. Dealers say that HNIs have bought shares.
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