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CAPITALSTARS INDIAN EQUITY MARKET WRAP UP – 9 OCT 2018

market-wrap-up

Closing Bell: D-Street ends on a negative note, Nifty holds 10,300; Tata Motors down 13%.

Shares resumed their downtrend after a brief pause from the selloff that was seen on Monday. The Nifty ended around 10,300, while the Sensex closed over 170 points lower.
There was large-scale selling across automobiles, energy, and FMCG names, while metals and pharmaceuticals were the top gainers. Midcaps recovered from their low points and ended 0.30 percent lower.
At the close of market hours, the Sensex closed down 174.91 points or 0.51% at 34299.47, while the Nifty ended lower by 47 points or 0.45% at 10301.00. The market breadth is negative as 1,015 shares advanced, against a decline of 1,579 shares, while 768 shares were unchanged.
Adani Ports, Vedanta and Dr Reddy’s Labs were the top gainers, while Tata Motors, Asian Paints, and Titan lost the most.

HEADLINES OF THE DAY

Indian rupee hits fresh record low of 74.35/$.
Yes Bank top gainer on the Sensex; gains 13% in 7 days.
Sugar stocks rally up to 15% led by Uttam Sugar on back on heavy volumes.
Tata Motors stock cracks 20% to hit nearly 7-year low as lower China demand dents JLR September sales.
Corporate Affairs ministry readying wide-ranging report on IL&FS ahead of NCLT hearing on Oct 31.

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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