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CAPITALSTARS INDIAN EQUITY MARKET WRAP UP – 18 JULY 2019

Market-Wrap-Up

Closing Bell: Late sell-off drags Sensex 318 pts, Nifty below 11,600; Yes Bank tanks 13%.

Benchmark indices fell sharply in late trade as US-China trade worries dragged global peers. All sectoral indices ended in red with PSU Bank, Auto and Metal falling 2.5-3 percent.
The BSE Sensex was down 318.18 points at 38,897.46 and the Nifty50 fell 90.60 points to 11,596.90. More than two shares declined for every share rising on the BSE.
The broader markets fell more than benchmark indices as the Nifty Midcap was down 1.7 percent and Smallcap index 1 percent.

HEADLINES OF THE DAY

Results to be announced on July 19
Reliance Industries, RBL Bank, Dhanuka Agritech, Mahindra CIE Automotive, JM Financial, Phillips Carbon Black, Dabur India, L&T Technology Services, ICICI Lombard General Insurance Company, Bhageria Industries, Hindustan Zinc, L&T Finance Holdings, InterGlobe Aviation and Bandhan Bank will declare their June quarter earnings on July 19.
The Indian rupee depreciated 14 paise to trade at around 68.96 against the US dollar.
IDFC First Bank said India Ratings revised outlook on senior debt to negative and reaffirmed rating at AA+.
City Union Bank said board approved raising upto Rs 500 crore through QIP.

The crucial resistance for Nifty spot is now seen at 11300 and above this 11160 Support for the immediate term is now placed at 11760 next support will be 11900.

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