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INDIAN EQUITY MARKET WRAP UP – 13 OCT 2017

market wrap up

INDIAN BENCHMARKS: SENSEX ENDS UP 250 POINTS NIFTY ENDS AT RECORD CLOSING HIGH

Equity benchmarks closed sharply higher for the second consecutive session as investors cheered macro data and hopes raised for early resolution to telecom NPAs post telecom deals.

The 30-share BSE Sensex was up 250.47 points at 32,432.69 and the 50-share NSE Nifty rose 71.10 points to 10,167.50.

The market breadth was weak as about 1,431 shares declined against 1,293 advancing shares on the BSE.

Bharti Airtel was up 6 percent, Tata Teleservices up 9 percent and Tata Communications up 2 percent after Airtel decided to buy consumer telecom business of Tata Sons. Bharti Infratel was up 3 percent.

HEADLINES OF THE DAY

Tamil Nadu govt reduces entertainment tax; Inox Leisure stock zooms.

LIC Housing Fin files insolvency plea against DB Realty in NCLT.

Karnataka Bank Q2FY18 standalone net profit declines 24.6% yoy to Rs.93.4 crore.

The crucial resistance for Nifty spot is now seen at 10230 and above this 10350.Support for the immediate term is now placed at 10140 and next support will be 10060.

UPCOMING RESULTS:

AVENUE SUPERMART,GRUH,BAJAJFINANCE,BAJAJFINSV,COLPAL,DCBBANK,DELTACORP,DHFL,FEDERAL BANK,STERLITE TECH,TEXMACO RAIL

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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