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CAPITALSTARS INDIAN EQUITY MARKET WRAP UP – 14 MAY 2019

Tuesday Equity Wrap Up

Closing Bell: Indices snap 9-day losing streak, Sensex gains 227 pts; PSU banks rally.

Benchmark indices closed in the green after falling for nine consecutive sessions. Sensex was up 227 points at 37,318.53, while Nifty closed at 11,222, up 73.80 points. About 1223 shares have advanced, 1260 shares have declined, and 132 shares are unchanged.
Sun Pharma, Bharti Airtel, Indiabulls Housing and Vedanta were among top index gainers, while TCS, Tech Mahindra, HCL Technologies and Bajaj Finance were among the top losers on the index.
Except IT that fell over 1 percent, all sectoral indices were trading in the green. PSU Bank is the biggest gainer, surging about 3 percent.
Nifty Midcap 100 was up 80 points at 16737.25, while Nifty Smallcap 100 was at 6,142.80, up 43 points.

HEADLINES OF THE DAY
Jet Airway’s temporary suspension leaves over 750 slots vacant at domestic airports in the country. The Slot Allocation Committee has allocated nearly 480 of Jet’s slots to other airlines.
SpiceJet has been allotted the most slots at 130 followed by IndiGo, which received 125 slots. Vistara was the third biggest gainer at 110 slots, while GoAir, AirAsia India got around 40-45 slots.
Siemens Q2 profit jumps 28% to Rs 280cr
Bharti Airtel has scrapped Rs 299 postpaid plan. Postpaid plans will now start from Rs 349/399
Edelweiss Financial Services reported a 3.3 percent fall in Q4 profit at Rs 232.40 crore, against Rs 240.40 crore in March 2018. Revenue of the company rose 13.8 percent at Rs 2,936 crore compared to Rs 2,581.20 crore in the year-ago period.
Tata Steel Ltd and Thyssenkrupp AG’s decision to cease efforts on their proposed Europe joint venture is marginally credit negative for Tata Steel, said S&P Rating.

RESULTS TO BE ANNOUNCED TOMORROW :- AMARAJ BAT , JUBLFOOD , KRBL , LUPIN .

The crucial resistance for Nifty spot is now seen at 11400 and above this 11620 Support for the immediate term is now placed at 11080 next support will be 10960.

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

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