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CAPITALSTARS INDIAN EQUITY MARKET WRAP UP – 10 JAN 2019

Market-Wrap-Up

Closing Bell: Sensex down over 100 points, Nifty manages to hold 10,800; IndusInd Bank falls 2%.

  • Its a negative end on the market on Thursday, with the Nifty holding on to 10,800-mark.
  • There was some weakness in the financials space, which weighed on the indices. Automobiles and pharmaceuticals, among others, were the other big gainers. There was a considerable outperformance by the Nifty Midcap segment, gaining almost half a percent.
  • At the close of market hours, the Sensex was down 106.41 points or 0.29% at 36106.50, and the Nifty down 33.60 points or 0.31% at 10821.60. The market breadth was negative as 1217 shares advanced, against a decline of 1362 shares, while 153 shares were unchanged.
  • Tata Motors, NTPC, and Titan were the top gainers, while IndusInd Bank, Kotak Mahindra Bank, and HPCL lost the most.

HEADLINES OF THE DAY

  • Share price of NCC gained 1.2 percent as Rakesh Jhunjhunwala bought additional stake in the company.
  • HG Infra declared lowest bidder for a Haryana Project; construction cost at Rs 580 crore
  • Indian rupee is trading lower by 13 paise at 70.60 per dollar against Wednesday’s close 70.47.
  • ICRA has reaffirmed A (Stable) for long term and A1 for short term credit rating for Line of Credit (LOC) of the company which is valid till November 01, 2019.
  • HG Infra wins project: HG Infra has been declared L-1 bidder for a new Hybrid Annuity mode project Rewari- Ateli Mandi section of NH-11 valued at NPV Rs 564.98 crore by the National Highways Authority of India in the state of Haryana.
  • Bandhan Bank reported a growth of 10 percent for December quarter at Rs 331.3 crore against Rs 300 crore during the same period of last year.
  • Goa Carbon Q3: Net loss at Rs 4.9 crore against profit of Rs 22.5 crore. Revenue was down 49.5 percent at Rs 94.3 crore versus Rs 186.6 crore. EBITDA loss at Rs 6.3 crore versus EBITDA of RS 38.3 crore, YoY.
  • Sonata Software acquires stake in Rezopia: Sonata Software North America, Inc. a wholly owned subsidiary of the company, has entered into a definitive agreement with each of other shareholders of Rezopia, Inc., to acquire remaining 40% stake in Rezopia, Inc., a California corporation.

The crucial resistance for Nifty spot is now seen at 10920 and above this 10990 Support for the immediate term is now placed at 10750 next support will be 10620.

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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