The Nifty50 after rangebound move extended losses sharply in
late trade amid source-based news that India may impose retaliatory tariffs on
29 US products. All sectoral indices closed in the red with Bank, Auto, FMCG
and Realty being the biggest losers with 1-2 percent loss.The index ended sharply lower but managed to hold 11,800 levels,
forming bearish candle on daily as well as weekly charts which suggests selling
pressure is seen at higher levels. For the week, it declined 0.4 percent.It has been consolidating in between 11,761 to 12,041 zones from
fourteen trading sessions and requires a decisive range breakout to commence
the next leg of rally else it is likely to move in this broader trading range,
experts said. Aurobindo
Pharma shares fell 5 percent intraday on June
14 after the US health regulator pointed out data integrity lapses at finished
dosages plant in Bachupally, Telangana. Kalpataru Power Transmission shares
gained 1.7 percent intraday on June 14 after global brokerage house
Phillip Capital India initiated coverage with a buy rating and target price of
Rs 670, implying 37 percent.
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