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CAPITALSTARS INDIAN EQUITY MARKET WRAP UP – 30 OCT 2018

market-wrap-up

Closing Bell: Sensex ends 176 points lower, Nifty just below 10,200; midcaps outperform.

It’s a negative close for the market and the Nifty has managed to close below 10,200-mark.
At the close of market hours, the Sensex is down 176.27 points or 0.52% at 33891.13, while the Nifty is lower by 52.50 points or 0.51% at 10198.40. The market breadth is narrow as 1,472 shares advanced, against a decline of 1,066 shares, while 1,104 shares were unchanged.
Infosys, State Bank of India, Tech Mahindra and Zee Entertainment are the top gainers, while IndusInd Bank, Coal India, and HPCL have lost the most.

HEADLINES OF THE DAY

Symphony Q2 result: The company’s consolidated net profit declined 38 percent at Rs 31 crore against Rs 50 crore. Revenue was up 5 percent at Rs 223 crore against Rs 212 crore.
ABB India Q3 profit surges 30% on double digit gross across segments, power grids biz grows 71%.
Jubilant FoodWorks announces PepsiCo as the new beverage partner for Domino’s Pizza.
Dena Bank has widened its net loss for the September quarter at Rs 416.7 crore against a loss of Rs 185 crore during the same quarter of last year.
Bank of Maharashtra has reported a net profit of Rs 27 crore against a loss of Rs 23.2 crore during the same period of last year.
Results to be announced tomorrow :- Adani Enterprises,Adani Power,Ajanta Pharma,Bajaj Steel,Balrampur Chini,Canara Bank,Castrol,Dabur India,Dhampur Sugar,Escorts,HEG,Larsen,Lupin,Tata Motors,Vedanta.

The crucial resistance for Nifty spot is now seen at 10280 and above this 10450 Support for the immediate term is now placed at 10100 next support will be 9900.

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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