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CAPITALSTARS INDIAN EQUITY MARKET WRAP UP – 07 October 2019

Monday Equity Wrap Up

MARKET WRAP UP

Closing Bell:- Sensex falls 141 pts, Nifty ends below 11,150; ONGC, ITC, Tata Steel fall 2% each The market ended in the red for the sixth consecutive session. IT, FMCG, auto and metal counters remained under pressure. Yes Bank, Axis Bank, Bajaj Auto and Bharti Airtel settled among top gainers.

The benchmark indices are trading volatile on October 7 with Nifty hovering around 11,200 level. Selling was seen in the pharma, energy, auto and metal stocks, while some buying witnessed in the selected banking names. The Sensex is up 67.70 points or 0.18% at 37741.01, and the Nifty up 10.70 points or 0.10% at 11185.50.

HEADLINES OF THE DAY

Markets continue to trade higher; Yes Bank soars the sectoral trend remained mixed with Nifty Media leading the gainers, while Nifty Pharma plunged over 3%.
JSW Energy enters into exclusive discussions with GMR Energy; stock up ~3% JSW Energy enters into exclusive discussions with GMR Energy for acquisition of its subsidiary, GMR Kamalanga Energy in Odisha.
Aurobindo Pharma cracks ~11% on receiving USFDA observations Media reports said that the USFDA has issued a note (after inspecting Aurobindo Unit-7 between September 19-27, 2019) indicating procedural lapses along with lack of quality control.
Bajaj Finance rises after posting Q2 performance update The Company new loans booked during Q2FY20 was 6.5mn as compared to 5.3mn in Q2FY19.

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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