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CAPITALSTARS INDIAN EQUITY MARKET WRAP UP – 6 NOV 2018

market-wrap-up

Closing Bell: Sensex, Nifty end flat ahead of Muhurat Trading; Yes Bank, TCS top gainers.

It’s a flat end to the session on Tuesday, with the Nifty holding 10,500-mark.
Among sectors, automobiles, banks, consumption and PSU banks took a big hit, while energy, IT and infrastructure names gained the most. In the broader market, the Nifty Midcap index ended down over half a percent.
At the close of market hours, the Sensex closed up 40.99 points or 0.12% at 34991.91, while the Nifty ended higher by 6.00 points or 0.06% at 10530.00. The market breadth was negative as 1,264 shares advanced, against a decline of 1,278 shares, while 153 shares were unchanged.
Yes Bank, TCS, and Zee Entertainment were the top gainers, while Vedanta, SBI, and Cipla lost the most.

HEADLINES OF THE DAY

Jet Airways clarification: The company clarified on news Jet Airways and Tata Group initiating second round of talks that the news is speculative in nature and unable to comment on the reasons for the increase in share price on the stock exchanges.
Tata Chemicals: Weak Q2; capital infusion in high margin business could trigger a re-rating.
Dr Lal PathLabs Q2 result: Company’s consolidated net profit rose 12.8 percent at Rs 57.4 crore versus Rs 50.9 crore, revenue was up 14.2 percent at Rs 317.5 crore against Rs 278.1 crore, YoY.
Voltas reported a net profit of Rs 107 crore for the September quarter, a jump of 12 percent year on year to the profit of Rs 95.36 crore that was reported a year ago.
Result reaction: Shares of Cupid declined 6 percent intraday Tuesday on weak set of numbers declared by the company for quarter ended September 2018.
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.
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