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CAPITALSTARS – INDIAN EQUITY MARKET WRAP UP – 08 JAN 2018

market-wrap-up

INDIAN BENCHMARKS: SENSEX NIFTY MIDCAPS AT FRESH RECORD CLOSE

The market ended at fresh record closing high yet again on Monday. The Nifty closed above 10,600 for the first time while the Midcap index outperformed, rising a percent.

The 30-share BSE Sensex rose 198.94 points to 34,352.79 and the 50-share NSE Nifty gained 64.70 points at 10,623.60.

Infosys, HDFC, L&T, ITC, Reliance Industries were top contributors to Nifty’s gains.

Telecom stocks cracked on tariff war. Bharti Airtel and Idea Cellular were down 4-5 percent.

HEADLINES OF THE DAY

NBCC to gain on bourses after order of Rs2, 200cr.

Karur Vysya Bank cuts overnight and one month MCLR by 35bps.

L&T bags order worth Rs2, 265cr; stock up 1.3%.

The crucial resistance for Nifty spot is now seen at 10640 and above this 10700.Support for the immediate term is now placed at 10530 and next support will be 10460.

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