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CAPITALSTARS – INDIAN EQUITY MARKET WRAP UP – 04 DEC 2017

market-wrap-up

INDIAN BENCHMARKS: Markets finally go green

Indian Indices:

The Indian markets ended marginally higher in range bound trade on Monday tracking mixed cues from Asian peers, as investors remained wary ahead of RBI policy and mid-term review of foreign trade policy. Sensex closed trade at 32869.72, up by 36.78 points or by 0.11%, and the NSE Nifty ended at 10127.75, up by 5.95 points or by 0.06%. Sensex touched intraday high of 33008.47 and intraday low of 32785.76, while the NSE Nifty touched intraday high of 10179.2 and intraday low of 10095.7.

Major Headlines:

  • Infosys share buyback kicks off
  • CUMI ramps up capacity to drive sales volume
  • Persistent Systems to focus on new-age technologies
  • Bharti Airtel rose 1% on BSE after the company through its wholly owned subsidiary acquired a strategic equity stake in Juggernaut Books.
  • Talwalkars Better Value Fitness rose 2.77% on BSE, with the stock extending Friday’s gains triggered by reports of brokerage coverage with a buy rating.
  • Fiem Industries jumped 5.17% on BSE after the company said it has signed a MoU with two Japanese firms for establishing a joint venture company in India.

Global Signals:

The dollar jumped on Monday versus the currencies of other developed and emerging nations while Treasury yields rose and Wall Street was primed for a another record-setting day after the U.S. Senate voted to approve a wide-ranging tax overhaul.

China’s economic growth target for 2018 will reflect new changes in the economy as the government put more emphasis on higher quality development, the State Council Information Office said on Monday.

Nifty futures

Next trading session nifty futures have resistance 10205. After crossing this level it can reach up to the level of 10245. In the downside nifty futures has support near 10105.After breaking this support it can slip till level of 10075.

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bank nifty futures have resistance 25375 after crossing this level it can reach up to the level of 25525. In the downside nifty futures has support near 25085 after breaking this support it can slip till level of 24925.

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