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CAPITALSTARS INDIAN EQUITY MARKET WRAP UP – 22 AUGUST 2019

market-wrap-up

Closing Bell: The Sensex was down 587.44 points at 36,472.93, while Nifty was down 177.30 points at 10,741.40.

The Nifty slipped below 10,750 on August 22 on growing market impatience with the promised government stimulus package. At close, the Sensex was down 587.44 points at 36,472.93, while Nifty was down 177.30 points at 10,741.40. About 549 shares have advanced, 1902 shares declined, and 122 shares are unchanged. Yes Bank, Vedanta, Indiabulls Housing, Bajaj Finserv and Bajaj Finance were among major losers on the Nifty, while gainers were Britannia Industries, Dr Reddy’s Laboratories, Tech Mahindra, TCS and HUL. Among sectors, except IT other indices ended lower led by the metal (down 3.5 percent), PSU Bank (down 3.7 percent), energy (down 2.3 percent), followed by auto and infra.

HEADLINES OF THE DAY

Lupin launches Fluoxetine Tablets USP; stock up ~0.5%, Lupin Fluoxetine Tablets USP, 10 mg and 20 mg, is the generic equivalent of Eli Lilly and Company Prozac Tablets, 10 mg and 20 mg.

Yes Bank dives 17% to hit 52-week low, The sharp decline comes as the bank holds 12.79% stake in CG Power, which since Tuesday has been in the news regarding financial irregularities.

Rupee drops to lowest in 2019 as Yuan weakness weighs, Currently, the currency fell by 39 paise at 71.94 against US Dollar.

The crucial resistance for Nifty spot is now seen at 10900 and above this 11000 Support for the immediate term is now placed at 10600 next support will be 10500.

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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