Market falls 09 Sep 2016

Market Falls or Correction?

NIFTY breaks 8900, SENSEX sheds over 200 points on 9th Sept, 2016.

About 1167 shares declined against 828 shares advancing shares on the BSE.

Friday, being the last day of trading weeks can be seen as the day for corrections.

Other News - 

• ICICI Pru Life IPO to open on Sep 19, with price band of Rs. 300-334 per share. IPO shall close on 21 Sept and it is aiming to raise Rs. 5000 crores through he offering.

• Rupee also slips 13 paisa against dollar in the early trade today.

• The brokerage house remained heavily overweighed on financials, largely banks including HDFC, HDFC Bank, IndusInd Bank, ICICI, Bank of Baroda among PSUs.

• Other large overweights - Power grid, Reliance Industries, Oil Marketing Companies, HCL Technologies, ITC and Ambuja Cement.

• Top contributors for market's fall - HDFC, ITC, ICICI Bank, TATA Motors and Axis Bank.

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