DSIJ Mindshare

A follow-through weakness and a close below the Monday’s session low (10,774) would signal a reversal in the market. In that case, we could see correction up to the levels of 10,690-10,650. Stocks in news: DLF, Shree Pushkar Chemicals and Fertilisers, Syngene International, MCX, Wockhardt, EPC Industries, Reliance Communications, Cyient and Tata Steel.

Indian markets are likely to make a pessimistic start tracking weak global cues. The sentiments may remain dampened as the US treasury yield on the 10-year benchmark surged to its highest level since 2011, which indicates a more hawkish Federal Reserve going ahead with rate hikes and that would not go down well with the emerging markets.

The share price of pharmaceutical major Sun Pharma plunged by over 7 per cent during the previous week on the back of declining sales of its key specialty products and speculation about price erosion.  

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