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CAPITALSTARS INDIAN EQUITY MARKET WRAP UP – 08 APR 2019

market-wrap-up

Closing Bell: Indices end off day’s low with Nifty above 11,600, Sensex falls 161 points.

Indian indices ended lower but off day’s low on Monday as final hour buying helped the Nifty to finished just above 11,600 level.
The Sensex was down 161.70 points at 38700.53, while Nifty was down 61.50 points at 11604.50. About 1070 shares have advanced, 1493 shares declined, and 161 shares are unchanged.
Tech Mahindra, Infosys, M&M, TCS and Power Grid Corp were the top gainers on the Nifty, while losers include Indiabulls Housing, IOC, Bajaj Finance, Vedanta and Yes Bank.
Among the sectors, auto, bank, metal, FMCG and pharma witnessed some selling pressure, while some buying seen in the IT stocks.
HEADLINES OF THE DAY
Adani Power has been awarded the Letter of Intent for Korba West Power Company (KWPCL). The committee of creditors of KWPCL, a company undergoing insolvency resolution process under the Insolvency and Bankruptcy Code, 2016, has approved the Resolution Plan submitted by Adani Power.
Shares of oil marketing companies are trading lower by 1-4 percent intraday Monday after oil prices rose to their 5 months high.
Zydus Cadila has received the tentative approval from the USFDA to market Lacosamide Tablets in the strengths of 50 mg, 100 mg, 150 mg and 200 mg. Lacosamide is an anticonvulsant or antiepileptic drug, used to prevent and control seizures.
The crucial resistance for Nifty spot is now seen at 10720 and above this 10920 Support for the immediate term is now placed at 10480 next support will be 10370.

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.

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