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CAPITALSTARS INDIAN EQUITY MARKET WRAP UP – 09 October 2019

Wednesday Equity Wrap Up

MARKET WRAP UP

Closing Bell:- Sensex ends above 38,000, Nifty jumps 186 pts; IndusInd Bank, SBI rise 5% Sensex ended 645.97 points higher or 1.72 percent at 38177.95. The Nifty closed 186.90 points in the green at 11313.30. About 1251 shares have advanced, 1232 shares declined, and 170 shares are unchanged. Banking index zoomed over 3 percent while IT stocks dragged.

The market rebounded sharply after a steep fall in the last six sessions, with the Nifty50 reclaiming 11,300 levels despite waning optimism over US-China trade meeting that will be held on October 10-11. The benchmark indices had fallen nearly 4 percent in the previous six days in a row, while BSE Smallcap index slipped 5.4 percent and Midcap index dropped 4.7 percent after rising 6-8 percent following the corporate tax rate cut. The 30-share BSE Sensex was up 609.56 points or 1.62 percent at 38,141.54 and te Nifty50 rallied 177.10 points r 1.59 percent to 11,303.50 at the time of publishing this copy.

HEADLINES OF THE DAY

Markets resume fresh upward momentum; Bank Nifty index outperforms on the sectoral front, Nifty Bank rallied 1,000 points or 3.6%, while PSU Bank and Private Bank indices gained over 3% each.

Gold prices rise on US-China tensions In the international markets, gold prices were steady on Wednesday. Markets are watching for clues on monetary easing by the US Federal Reserve.

Cabinet hikes dearness allowance by 5%, brings cheer to employees, pensioners The move raises dearness allowance to 17% from 12%, and is likely to benefit 50 lakh government employees and 62 lakh pensioners, Information and Broadcasting Minister Prakash Javadekar said while briefing media after a Union Cabinet meeting today.

Sensex surges over 500 points; Nifty above 11,250-mark The Nifty PSU Bank idex also recovered from intraday low levels and the Nifty Private Bank index was up by over 2%.

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

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