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CAPITALSTARS INDIAN EQUITY MARKET WRAP UP – 19 JULY 2019

market-wrap-up

Closing Bell: Indices end at 2-month low, Sensex sinks 560 pts, Nifty holds 11,400.

Benchmark indices ended at two-month low on July 19 after Finance Minister Nirmala Sitharaman dashed hope of a tweak in FPI surcharge. Continued asset quality concerns in Q1 also spooked markets.
The BSE Sensex was down 560.45 points or 1.44 percent at 38,337.01 and the Nifty50 plunged 177.60 points or 1.53 percent to 11,419.30. About three shares declined for every share rising on the BSE.
The broader markets also traded in line with benchmarks as the Nifty Midcap cracked 2.15 percent and Smallcap index declined 1.8 percent.
All sectoral indices ended in red, losing 1-3 percent. Nifty Bank lost 660 points.

HEADLINES OF THE DAY
HDFC Bank, Amara Raja Batteries, Future Lifestyle Fashions, United Nilgiri Tea Estates Company and Avanti Feeds will declare their earnings on July 20.
Punjab National Bank said it would consider raising up to Rs 5,000 crore via QIP/FPO/Rights Issue on July 25.
RBL Bank Set for the Biggest one-day fall ever
Sensex’ fall of more than 500 points on Friday is the third biggest in 2019.
Reliance Jio Pips Airtel to Become India 2nd largest mobile operator in May: TRAI.

The crucial resistance for Nifty spot is now seen at 11280 and above this 11100 Support for the immediate term is now placed at 11600 next support will be 11820.

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