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CAPITALSTARS INDIAN EQUITY MARKET WRAP UP – 8 OCT 2018

market-wrap-up

Closing Bell: Market ends multi-day losing streak, Sensex ends almost 100 points higher; Nifty around 10,350.

After a harrowing last week, equity benchmarks have begun this week on a positive note. The Nifty has closed around 10,350-mark, while the Sensex ended nearly 100 points higher.
It was a volatile day of trade as the market kept swinging between high and low points. But a sharp recovery in financials in the last hour helped indices close in the green. A rally in heavyweights such as Reliance Industries and Kotak Mahindra Bank also boosted the market.
Among sectors, energy names, along with banks, and auto were the top gainers, while metals, pharma and FMCG names were the big laggards.
At the close of market hours, the Sensex was higher by 97.39 points or 0.28% at 34474.38, while the Nifty was up 31.50 points or 0.31% at 10348.00. The market breadth was negative as 757 shares advanced, against a decline of 1,889 shares declined, while 680 shares were unchanged.

HEADLINES OF THE DAY

Indian rupee slips below 74/USD; down 28 paise.
Deutsche Bank expects a rate hike in December and two in 2019.

The crucial resistance for Nifty spot is now seen at 10480 and above this 10650 Support for the immediate term is now placed at 10200 next support will be 10090.

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