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CAPITALSTARS INDIAN EQUITY MARKET WRAP UP – 09 JULY 2019

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Closing Bell: Indices close volatile session mixed, Nifty holds 11,550; Mid, Smallcap indices outperform.
Benchmark indices closed volatile session on a mixed note after falling sharply in previous two straight sessions due to tax proposals in Budget.
The BSE Sensex rose 10.25 points to 38,730.82 while the Nifty50 fell 2.70 points to 11,555.90.
The broader markets outperformed frontliners with the Nifty Midcap and Smallcap indices rising 0.4 percent each.
Bajaj Finance, Sun Pharma, IOC, Bajaj Finserv and Hero Motocorp were top gainers among Nifty50 stocks, rising 3-6 percent.
Titan Company plunged 12 percent. UPL, GAIL, TCS and Yes Bank fell 2-3 percent.

HEADLINES OF THE DAY

DHFL Falls 9% :– Shares of HFC Dewan Housing Finance Corporation fell 9 percent after a media report indicated that the company is likely to present a proposal for resolution to its lenders on July 11.

ICICI Securities said it announced the diversification of its business model by entering into retail asset (loans) distribution business, thereby opening a new revenue stream for the organization.

European stocks traded lower as diminished hopes of a rate cut from the US Federal Reserve this month continued to dampen market sentiment.

REC share price has crashed 15 percent today.

L&T to Announce Quarterly Earnings after 2 Weeks :- Larsen & Toubro said the meeting of the board of directors is scheduled on July 23 to consider and approve the unaudited financial results of the company for the quarter and three month period ended 30th June 2019.

The crucial resistance for Nifty spot is now seen at 11800 and above this 11960 Support for the immediate term is now placed at 11400 next support will be 11240.

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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