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CAPITALSTARS INDIAN EQUITY MARKET WRAP UP – 12 OCT 2018

market-wrap-up

 

Closing Bell: Bulls rule D-Street as Sensex ends 732 pts higher, Nifty closes at 10,472; auto, banks gain big.

What a day! Bulls took the mantle back from bears on Friday, almost erasing all of Thursday’s losses. The Sensex ended over 700 points higher, while the Nifty ended above 10,450-mark.
Barring tech stocks, there was buying across all sectors. Banks, automobiles, energy and metal names were the big gainers. The Nifty Midcap index is up around 3 percent.
Indian market rallied despite a weakness in the US markets, where the Dow closed over 500 points lower.
At the close of market hours, the Sensex ended up 732.43 points or 2.15% at 34733.58, while the Nifty closed higher by 237.80 points or 2.32% at 10472.50. The market breadth was positive as 2,024 shares advanced, against a decline of 630 shares, while 801 shares were unchanged.
Maruti Suzuki, Mahindra & Mahindra, and Eicher Motors are the top gainers. TCS and HCL Technologies were the big losers.

HEADLINES OF THE DAY

Indian rupee trades higher at 73.70 per dollar.
Largecaps trading at high valuations, wait for further correction.
HUL likely to report double digit earnings growth in Q2.
The crucial resistance for Nifty spot is now seen at 10520 and above this 10650 Support for the immediate term is now placed at 10280 next support will be 10090.

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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