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CAPITALSTARS INDIAN EQUITY MARKET WRAP UP – 8 JAN 2019

Market-Wrap-Up

Closing Bell: Sensex ends 130 points higher, Nifty above 10,800; Sun Pharma up 4%.

  • A recovery in the final hour of trade ensured that benchmarks maintained their positive streak.
  • Among sectors, weakness was visible in energy, infra and IT names, while the Nifty Midcap index also fell one-fifth of a percent.
  • Pharmaceuticals gained the most, courtesy a huge rally in Sun Pharmaceuticals.
  • At the close of market hours, the Sensex was up 130.77 points or 0.36% at 35980.93, and the Nifty up 30.40 points or 0.28% at 10802.20.
  • The market breadth was narrow as 1248 shares advanced, against a decline of 1297 shares, while 173 shares were unchanged.
  • Sun Pharma, SBI, and ICICI Bank were the big gainers, while Kotak Mahindra Bank, NTPC, Zee Entertainment and UPL have lost the most.

HEADLINES OF THE DAY

  • Bharat Dynamics has signed contract worth of Rs 760 crore approximately with the Indian Army for production and supply of Anti-Tank Guided Missiles (ATGM) and Launchers.
  • Hind Rectifiers bags orders: The company has bagged orders of Rs 88.05 crore in December 2018.
    Tata Elxsi has reported a drop of 20 percent quarter on quarter in its net profit at Rs 66 crore against Rs 82.2 crore last quarter.
  • IndusInd Bank Q3: Brokerages say profit may take a hit on IL&FS exposure
  • Zydus receives final approval from USFDA: Zydus Cadila has received the final approval from the USFDA to market Aripiprazole Tablets USP (US RLD-Abilify) in the strengths of2 mg, 5 mg, 10 mg, 15 mg, 20 mg, and 30 mg.

Results to be announced tomorrow :- Indusind bank, Bajaj corp, Delta corp.

The crucial resistance for Nifty spot is now seen at 10860 and above this 10960 Support for the immediate term is now placed at 10730 next support will be 10660.

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647.

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