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CAPITALSTARS INDIAN EQUITY MARKET WRAP UP – 9 JAN 2019

market-wrap-up
Closing Bell: Last hour rally helps Sensex close over 230 points higher, Nifty above 10,850.

  • Market at Close Equity benchmarks have closed the session with strong gains. The Nifty has ended the session around 10,850-mark.
  • There was some weakness seen among metals and energy sectors, along with PSU banks. Meanwhile, banks, automobile and consumption names rose during the trade.
  • The Nifty Midcap index ended with cuts of around one-tenth of a percent.
  • Bharti Airtel, Axis Bank and ITC are the top gainers, while Yes Bank, Tata Steel, GAIL and HPCL lost the most.

HEADLINES OF THE DAY

  • Bajaj Corp reported a rise of 9 percent in its net profit for December quarter at Rs 60.1 crore. The company had posted profit of Rs 55.2 crore last year.
  • IndusInd Bank Q3: Company reported net profit of Rs 985 crore against Rs 920 crore, QoQ. Gross NPA at 1.13 percent versus Rs 1.09 percent, while Net NPA was at 0.59 percent against 0.48 percent, QoQ.
  • Prabhat Dairy is planning to enter into the Animal Nutrition business, which includes cattle feed, nutrition supplements & animal genetics.
  • Tera Software bagged work order worth of Rs 324.89 crore to establish optical Fibre network infrastructure in the state of Andhra Pradesh from APSFL.
  • Benchmark indices erased all its gains with Nifty is trading below 10,800 level.
  • Results to be announced tomorrow :- Indusind bank, Bajaj corp, Delta corp.

The crucial resistance for Nifty spot is now seen at 10940 and above this 10100 Support for the immediate term is now placed at 10750 next support will be 10610.

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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