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Friday Equity Wrap Up

Closing Bell: Nifty ends above 11,100, Sensex up 254 pts; Yes Bank tanks 7%, Indiabulls Housing surges 14%.

Indian indices ended higher for second consecutive day but off day’s high on August 9 with Nifty holding above 11,100 level.
At close, Sensex was up 254.55 points at 37,581.91, while Nifty was up 77.20 points at 11,109.70. About 1521 shares have advanced, 952 shares declined, and 151 shares are unchanged.
Indiabulls Housing, Eicher Motors, Maruti Suzuki, Bajaj Finserv and Titan Company were among major gainers on the Nifty, while losers were Yes Bank, Cipla, Hindalco Industries, Tech Mahindra and Coal India.
Among sectors, IT, metal, PSU bank and pharma witnessed selling pressure, while buying seen in the auto, FMCG and energy sectors.

Cadila Healthcare fell post Q1 numbers: Shares of Cadila Healthcare fell more than 1 percent on August 9 after company’s consolidated net profit was down 34 percent at Rs 303.6 crore against Rs 460.5 crore, while revenue was up 20.8 percent at Rs 3,496.3 crore against Rs 2,893.7 crore, YoY.
MRF Q1 result: Consolidated net profit rose 3 percent at Rs 273.3 crore against Rs 260.7 crore, revenue up 16.5 percent at Rs 4,471 crore versus Rs 3,836.3 crore, YoY.
Bank of Maharashtra reviewed marginal cost of funds based lending rates (MCLR) with effect from August 8, 2019.
Shree Cement Q1 Earnings :- Company’s profit increased 36.8 percent to Rs 382.3 crore and revenue grew by 7.6 percent to Rs 3,302.8 crore compared to year-ago.
Hindalco Industries started off the financial year on a weak note by reporting a massive 29 percent year-on-year fall in June quarter consolidated profit due to global downturn and lower commodity prices amid trade tensions.

The crucial resistance for Nifty spot is now seen at 11320 and above this 11480 Support for the immediate term is now placed at 10980 next support will be 10820.

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

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