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INDIAN EQUITY MARKET WRAP UP – 13 NOV 2017

market-wrap-up

Market ended lower in the first trading session of the week tracking negative global stocks. Sensex, fell 281 points or 0.84% to settle at 33,033.56. The Nifty 50 index fell 96.80 points or 0.94% to settle at 10,224.95. The Sensex settled above the 33,000 level after falling below that level in late trade. Losses in metal stocks and index heavyweights HDFC, L&T and ITC weighed on market sentiment. The Sensex and the Nifty settled at their lowest level in almost three weeks. Nifty has closed just on its support zone and we can see a positive bounce from here on unless and until it hold a level of 10200-10180.

IT major TCS rose 2.06% to Rs 2,758.90. The company announced after market hours today, 13 November 2017, that the Mississippi, Rhode Island and Maine (MRM) Consortium — now known as ReEmpIoyUSA — has gone live on the cloud with the TCS developed Unemployment Insurance (UI) system. Mississippi is now operating on the multi-tenant capable, fully integrated, re-engineered UI Benefits and Tax system hosted in a FedRAMP certified Government Cloud, while the States of Maine and Rhode Island will follow soon, using the same solution.

In its outlook, L&T said that the government’s determined efforts to revive the investment sentiment while undertaking impactful economic reforms have expectedly caused transition challenges. While the potential for investment in growth remains compelling, the readjustment to the continuing impact of currency purge and the accelerated implementation of GST has upset business environment and tripped growth in an economy already beset with twin challenges of attracting investments and adhering to fiscal rectitude, L&T said.

Results to be in focus for tomorrow: Bank of Baroda, Eicher Motors, Godrej Ind, Kwality, NBCC (India), Rel Capital, Sun Pharma

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