The daily report summarizes the performance of key Indian stock market indexes and the rupee on that day. It notes that indexes were up in early trading due to positive GDP data, but then saw sharp declines later in the day, closing lower. The Nifty 50 and Bank Nifty fell the most. Dr. Reddy's and Wipro gained while Bajaj Finance and HUL declined. Updates on stock movements and company news are also provided.
2. Nifty 50 Index
Sensex Index
Bank Nifty Index
Niftyfuture todayopenedup21
points at 11576, bank nifty
future up 30 points at 28224
and Sensex up 152 points 38797
and rupee opened at 70.74. It
was a good start in morning as
investorsare bettingonpositive
GDP data for the June quarter
of this fiscal. The figure rose to
8.2 percent in Q1 of FY19. A
sharp selloff in the last hour
erased all the gains, with the
market closing at low points of
the day. Throughout the day,
Nifty Media and Nifty metal
sustained to trade in green and
all other major indices on NSE
were in red. Nifty bank and
reality index fell the most. Dr
Reddy and Wipro were among
the top gainers and Bajaj
finance and HUL were the top
losers. At the closing time all
the benchmark indices closed
down, Nifty future 111 points
down, Bank Nifty 254 points
down,Sensex 358 points down.
INR was trading at 71.05 at the
stock market closing time.
Nifty 50 indexes have been
moving in the up-channel line
and today it gave the breakout
of the same.If niftybreakslevel
of 11532 it may further go
down.
Resistance and supports
Resistance1– 11780
Resistance2 – 11921
Supports1 – 11532
Supports2 - 11340
MarketCommentary
3. Motilal Oswal Financial Services:
The Motilal Oswal is in downtrend form January 2018 and reversed the trend form the july it
reversed the trend and started to move in the uptrend. The stock is taking support of the uptrend
channel line and again it is moving in buying side, the increase of the volume also is seen into the
stock.
Motilal Oswal is buy if it breaks the level 868 and the target
range 875-882 and recommended stop loss 842.The stock is showing RSI convergence at the
initiation of the green candle at the support of the trend line.
Stock to Watch for Tuesday
4. Shares of Maruti Suzuki slipped 1 percent in the morning trade on Monday
after company reported weak sales number for the month of August 2018.It
has touched an intraday high of Rs 9,110.00 and an intraday low of Rs
9,006.00.The company's total August 2018 sales declined 3.4 percent at 1.58
lakh units versus 1.63 lakh units in the same month last year.
Wipro signed a USD 1.5 billion-deal for ten years with Lincolnshire, Illinois-
based Alight Solutions, a company that deals in technology-enabled health,
wealth, HR and finance solutions. The company also completed acquisition of
Alight HR Services India, which it had earlier bought for USD 117 million.
Wipro in the morning gained over 8 percent after it signed its largest deal
worth USD 1.5 billion. This is also the first large deal Wipro has signed after
CEO Abidali Z. Neemuchwala took charge in 2016.
Shares of ICICI Bank fell over 1.5 percent on Monday morning as investors
turned wary of reports around Chanda Kochhar and family. According to
report the board of ICICI Bank has requested the panel to determine whether
the Kochhar family acquired the assets at concessional or rates lower than
that prevailing in the market. The panel will also probe whether sellers of
these assets were granted special terms of loans or any other banking
privileges with the bank. The report quoted Justice Srikrishna as confirming
he is investigating allegations that were raised by a whistle-blower.
Reliance Infrastructure has won Rs 200 crore arbitration award against
National Highway Authority of India (NHAI). A three-member Arbitration
Tribunal in its unanimous award on August31, 2018 has asked NHAI to pay Rs
150 croreby November 29, 2018 to Reliance Infrastructure. NHAI will have to
pay interest at 12% p.a. on the amount if they do not pay Rs 150 crore by the
deadline.
The Indian economy grew at 8.2 percent in the April-June quarter this year,
which was ahead of market expectations. The economy grew despite the
falling rupee and the growing concerns around a possible global trade war,
and while the country's economy is recovering from twin shocks
of demonetization and the goods and services tax (GST).
NewsHighlights:
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