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CAPITALSTARS INDIAN EQUITY MARKET WRAP UP – 2 NOV 2018

market-wrap-up

Closing Bell: Market ends off day’s high as Sensex gains 579 pts, Nifty above 10,550; indices up 5% for week.

Sensex ended the day at 35011, surging 579 points or 1.68 percent, whereas the Nifty jumped 172 points to end at 10,553, 1.66% higher than the previous day.
Auto, Banks and FMCG ended the day higher. Nifty Auto surged 4.15 percent, Nifty Bank gained 4.49 percent and Nifty FMCG jumped 1.7 percent. The corresponding sectoral indices on the BSE gained 4.05 percent, 1.42 percent and 1.52 percent, respectively.
The biggest gainer on Sensex were Vedanta which jumped 6 percent, Maruti Suzuki which gained 6.4 percent and Tata Motors which spiked 6.3 percent. IT majors Wipro, TCS and Infosys were biggest losers.
The biggest gainers on Nifty were BPCL (6.2 percent), Maruti Suzuki (6.3 percent), Vedanta (6.2%), Tata Motors (6 percent) and IndusInd Bank (5.3 percent). Among the biggest losers on the index were Tech Mahindra, Wipro and Dr Reddy’s Lab.

HEADLINES OF THE DAY

Bata India net profit grows 30%.
India VIX is down by 1.07 points, or 5.6 percent and currently trading at 18.12.
NTPC Ltd reported a net profit for the second quarter at Rs 2,426 crore, a decline of 0.5 percent year-on-year. The revenue for the company rose 13 percent YoY at 22,261.1 crore.
Petronet LNG’s Q2 net profit fell 4 percent at Rs 563 crore against Rs 587 crore during the previous quarter. The revenue rose 17 percent at Rs 10,745 crore.
Godrej Consumer reported net profit growth of 60 percent at Rs 578 crore against Rs 362 crore in the previous year. The revenue has risen 6 percent at Rs 2,659 crore against Rs 2,507 crore last year.
Whirlpool has posted 7 percent year on year rise in net profit at Rs 78.5 crore. The revenue has risen 2 percent at Rs 1,181.5 crore.
IOC Q2 profit falls 52.5% to Rs 3,247 crore; posts weak operational show
Punjab National Bank has posted a loss of Rs 4,532.4 crore crore for the quarter ended September 2018 as provisions increased four-fold compared to year-ago, but asset quality improved sequentially.
Marico surges 6%: Shares of Marico have surged 6 percent as investors are reacting positively to its earnings announcement for September quarter.
The Indian rupee gained past 73 against the US dollar for the first time since October 1, up 0.78 percent at 72.88 on sharp dollar selling.
Results to be announced tomorrow :- Balkrishna,BEML,Cadila Health,J. K. Cement,ONGC,Reliance Infra,Torrent Pharma,Uflex.

The crucial resistance for Nifty spot is now seen at 10640 and above this 10800 Support for the immediate term is now placed at 10410 next support will be 10280.

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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