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CAPITALSTARS INDIAN EQUITY MARKET WRAP UP – 11 JULY 2019

Stocks-To-Buy-Today-23

Closing Bell: Sensex gains 266 pts, Nifty fails to reclaim 11,600; all sectoral indices in green.
The market recouped all its previous day’s losses to close sharply higher after Federal Reserve chair Jerome Powell hinted at a rate cut ahead.
The BSE Sensex was up 266.07 points at 38,823.11 and the Nifty50 rallied 84 points to 11,582.90.
Hero Motocorp, IndusInd Bank, Tata Motors, Vedanta and SBI were top gainers among Sensex stocks, rising 2.5-4.6 percent while ICICI Bank, Bajaj Auto, Axis Bank, TCS and L&T were losers.

HEADLINES OF THE DAY
Glenmark Pharma Gains 2% :- Global rating agency Fitch affirmed company’s long-term issuer rating at BB.
Greaves Cotton shares fell 9 percent intraday after company increases stake in subsidiary Ampere Vehicles Pvt Ltd.

Tata Motors’ Global Wholesales :- “Global wholesales in June 2019, including Jaguar Land Rover, were at 95,503 units, lower by 5 percent compared to June 2018,” Tata Motors said.

InterGlobe Aviation Falls 5% :- Sources told CNBC-TV18 that capital market regulator SEBI called IndiGo’s Company Secretary for a meeting after a feud between Rakesh Gangwal and Rahul Bhatia over corporate governance issue.

The crucial resistance for Nifty spot is now seen at 11760 and above this 11900 Support for the immediate term is now placed at 11460 next support will be 11200.

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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