Some realty stocks are at crucial levels and will need a close watch
The Indian benchmark indices retained trend of closing the July Budget Day in red for the fifth consecutive time. Sensex and Nifty 50 were down about 0.1 per cent each. The Nifty Bank index was down about a per cent. Indeed, all three indices witnessed an intraday fall of over 1.5 per cent before recovering some of the loss in the second half of the day.
Which are the stocks that have seen gains today? Consumer stocks have been the exception today, gaining 2% after the government said it will allocate 1.52 trillion rupees for the agriculture and allied sectors. Agriculture stocks like Kaveri Seeds, Mangalam Seed and Dhanuka Agritech rose between 4.4% and 10.5%. Fisheries stocks Avanti Feed and Coastal Corp rose 4.3% and 2.3%, respectively after the government pledged financial support for the sector.
Which stocks are trading in red? Capital goods stocks like Larsen & Toubro, ABB India, Thermax and Siemens lost between 1.5% and 5% after the government did not increase the amount it planned to spend on infrastructure. L&T was the top Nifty 50 loser.