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CAPITALSTARS INDIAN EQUITY MARKET WRAP UP – 13 JUNE 2019

Market-Wrap-Up

Closing Bell: Sensex ends marginally lower, Nifty holds 11,900; Indiabulls Housing gains 11%.

  • Benchmark indices ended mixed but off day’s low in the volatile session on June 13
  • Nifty holds above 11,900 level.
  • At close, the Sensex was down 15.45 points at 39,741.36, while Nifty was up 7.80 points at 11,914.00. About 916 shares have advanced, 1590 shares declined, and 155 shares are unchanged.
  • Indiabulls Housing, Zee Entertainment, BPCL, Grasim Industries and Power Grid were among major gainers on the Nifty, while losers were Yes Bank, IndusInd Bank, Infosys, IOC and UPL.
  • Among the sectors, selling was seen in the IT, metal, pharma, PSU bank and auto.

HEADLINES OF THE DAY

  • Indiabulls Housing Finance said a writ petition alleging financial misdeeds against the mortgage lender had been withdrawn, sending shares nearly 8% higher, reports Reuters.
  • V-Mart Retail opens new store: The company has opened a new store in the state of Uttar Pradesh.
  • This takes the total number of stores to 225 stores in 177 cities across 17 states and total tally of Uttar Pradesh is 88 stores.
  • Telecom operator Bharti Airtel shares gained after global brokerage CLSA remained positive on the stock on strong operational growth in Africa business.

The crucial resistance for Nifty spot is now seen at 12040 and above this 12200 Support for the immediate term is now placed at 11800 next support will be 11640.

CapitalStars Investment Adviser: SEBI Registration Number: INA000001647.

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