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CAPITALSTARS INDIAN EQUITY MARKET WRAP UP – 11 JUNE 2019

Tuesday Equity Wrap Up

Closing Bell: Nifty ends above 11,950, Sensex up 165 points; Indiabulls Housing falls 8%.

Indian indices ended on positive note but off day’s high on June 11 with Nifty able to close above 11,950 level.
At close, the Sensex was up 165.94 points at 39,950.46, while Nifty was up 42.90 points at 11,965.60. About 1141 shares have advanced, 1393 shares declined, and 153 shares are unchanged.
Yes Bank, ONGC, Tata Motors, Zee Entertainment and IndusInd Bank were among major gainers on the Nifty, while losers were Indiabulls Housing, Sun Pharma, M&M, Dr Reddy Labs and Tech Mahindra.
Among the sectors, buying was seen in the auto, bank, energy, metal, IT and infra, while FMCG ended marginally lower.

HEADLINES OF THE DAY
Indraprastha Gas has appointed Ramesh Narain Misra as an additional and independent director of the company w.e.f. June 11, 2019.
Moody’s places Yes Bank’s ratings under review for downgrade.
Bharat Dynamics signs contract: The company has signed a contract worth Rs 1,187.82 crore for supply of heavy weight torpedoest. The contract has to be executed in next 42 months.
Shares of Jet Airways plummeted as much as 13 percent after reports emerged that Hinduja Group and Etihad Airways may no longer proceed with plans to revive the ailing carrier.

The crucial resistance for Nifty spot is now seen at 12040 and above this 12200 Support for the immediate term is now placed at 11840 next support will be 11700.

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

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