Closing Bell: Nifty ends above 11,100, Sensex gains; IndusInd Bank up 5%, metal stocks shine.


Benchmark indices snapped 2 day's losing streak and ended higher on July 31 with Nifty finished above 11,100 level.
At close, the Sensex was up 83.88 points at 37,481.12, while Nifty was up 28.40 points at 11,113.80. About 1134 shares have advanced, 1333 shares declined, and 137 shares are unchanged. 
Zee Entertainment, Axis Bank, Bharti Airtel, Titan Company and Bharti Infratel were among major losers on the Nifty, while gainers were IndusInd Bank, Yes Bank, IOC, Hero Motocorp and Tata Steel.
All the sectoral indices ended in the green led by the metal, auto, pharma, IT, infra, FMCG and energy.

HEADLINES OF THE DAY

Motilal Oswal Q1: Net profit up 24.6 percent at Rs 129.4 crore against Rs 103.8 crore, revenue up at Rs 609.2 crore against Rs 602.5 crore, YoY.
IOC Q1 net profit dips 41%:Oil marketing firm, Indian Oil Corporation (IOC) has posted 41 percent fall in its June quarter net profit at Rs 3,596.11 against Rs 6,099.3 crore in the quarter ended March 2019.
Allahabad Bank Q1: Net profit at Rs 128 crore versus loss of Rs 1,944.4 crore, while net interest income (NII) was down 10.2% at Rs 1,530.1 crore against Rs 1,703.6 crore, YoY. 

The crucial resistance for Nifty spot is now seen at 11360 and above this 11500 Support for the immediate term is now placed at 11060 next support will be 10960.

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Closing Bell: Nifty ends below 11,100, Sensex falls 289 pts; PSU banks tumble 5%, Bharti Airtel up 3%.


Indices fell for the second consecutive day on July 30 with Nifty ended below 11,100 level on the back of selling in PSU banks, metal and auto.
At close, the Sensex was down 289.13 points at 37,397.24, while Nifty was down 103.80 points at 11,085.40. About 567 shares have advanced, 1907 shares declined, and 109 shares are unchanged. 
Yes Bank, IndusInd Bank, Indiabulls Housing, Hero Motocorp and Sun Pharma were among major losers on the Nifty, while gainers were Bharti Airtel, TCS, HCL Tech, ITC and HUL.
Except IT, all other sectoral indices ended in the red led by PSU bank (down 4.9%), metal (down 3.3%), auto (down 2%), pharma (down 2.2%) followed by energy, FMCG and infra.

HEADLINES OF THE DAY

Kalpataru Power Q1: Net profit up 17.6% at Rs 100 crore versus Rs 85 crore, revenue up 33% at Rs 2,771 crore versus Rs 2,084 crore, YoY.
Solar Industries Q1: Net profit up 2.2% at Rs 71.1 crore against Rs 69.6 crore. Revenue up 0.9% at Rs 620 crore against Rs 614.7 crore, YoY.
Cholamandalam Investment Q1: Net profit rose 12.1% at Rs 315.2 crore against Rs 281.3 crore, NII up 16% at Rs 943 crore versus Rs 811 crore, YoY.
Indiabulls Housing Finance will issue an offer to all Debenture holder(s) for pre-mature redemption of the NCDs held by them at par. The process of offer and buyback / pre-mature redemption of these NCDs will be completed by August 14, 2019.

The crucial resistance for Nifty spot is now seen at 11200 and above this 11360 Support for the immediate term is now placed at 10960 next support will be 10880.

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Closing Bell: Nifty ends below 11,200, Sensex down 196 points; Metals, auto worst hit.


Indian indices ended on negative note but off day's low on July 29 with Nifty finished below 11,200 level.
At close, the Sensex was down 196.42 points at 37,686.37, while Nifty was down 92.10 points at 11,192.20. About 797 shares have advanced, 1614 shares declined, and 124 shares are unchanged. 
Indiabulls Housing, Grasim Industries, Tata Motors, Vedanta and Bharti Infratel were among major losers on the Nifty, while gainers were ICICI Bank, HCL Tech, IndusInd Bank, TCS and Infosys.
Except IT all other sectoral indices ended in the red led by auto, metal, infra, pharma, FMCG and energy. BSE Midcap index shed 0.7 percent, while BSE Smallcap index fell 1 percent.

HEADLINES OF THE DAY

Chennai Petro Q1: Consolidated net loss at Rs 229.3 crore against loss of Rs 25 crore, revenue up 1.9% at Rs 10,147 crore against Rs 9,957 crore, QoQ.
Alembic Pharma Q1: Consolidated net profit up 36.7% at Rs 123.7 crore against Rs 90.5 crore, revenue up 10% at Rs 948.9 crore versus Rs 862.5 crore, YoY.
SBI reduces interest rate on deposits across all maturities
Infosys opens new cyber defence centre.

The crucial resistance for Nifty spot is now seen at 11300 and above this 11460 Support for the immediate term is now placed at 11060 next support will be 10960.

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Crucial weeks for Guar lay ahead; monsoon in West Rajasthan to decide its fate



The price of Guar seeds has seen a big time consolidation between Rs 4,150 per 10 quintal and Rs 4,450 from December 2018 to July 2019. Despite a significant fall in output in the current 2018-19 season (from October to September), prices were unable to breach the season's high of Rs 4,775 ( which were tested in November 2018). Around 80 percent of Guar produced in India is exported in the form of Guargum/split/meal. The US is the largest destination for Guar products, and lower exports to the nation are the chief reason for capping the potential price rise of Guar in the last eight months.
Sowing for the coming season, which is from 2019-20, has already started. But the figures are far behind the five-year average. Only 25 percent of the normal sowing area has been covered by July 24. In irrigated belts, farmers have preferred cotton to Guar due to assured returns from the fibre crop, while in the rain-fed areas of north Rajasthan, particularly Barmer, Jaisalmer and Bikaner, farmers are eagerly awaiting rains to sow Guar. Very few acres have been covered after last week's rains in northwest Rajasthan. The next two weeks will be crucial as the sowing window in these districts is till the second week of August.

Rains over Northwest India last week had raised hopes about the yield of the early sown crop, but the situation is back to normal, with dry conditions prevailing since then.

Many weather watchers are of the opinion that the monsoon will be active across India in the last week of July. If this happens, the shortfall in sowing would narrow substantially. Accordingly, prices plunged last week from Rs 4,432 and are now hovering around an important support of Rs 4,150-4,180.

The 2018-19 crop was significantly lower, at around 55 lakh bags. Guar exports to the US were also lower, counter-balancing the effect of lower production (higher prices). Carried-forward stocks should thus be around the 2017-18 level. Guar prices, having discounted the demand-supply fundamentals of the 2018-19 season, will now take direction on the basis of the 2019-20 crop. The next two weeks will be crucial from a sowing perspective and will paint a better picture regarding the size of the next year's crop.

Nevertheless, the present situation is the worst and per-hectare productivity would be on the lower side. Any fall due to increased rainfall should be considered a good buying opportunity.

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Closing Bell: Nifty ends below 11,300, Sensex up 50 pts; Yes Bank gains 9%, auto stocks jump.


The benchmark indices ended on positive note on July 26 breaking six consecutive day fall with Nifty finished near 11,300.
At close, the Sensex was up 51.81 points at 37,882.79, while Nifty was up 32.10 points at 11,284.30. About 1296 shares have advanced, 1173 shares declined, and 161 shares are unchanged. 
Yes Bank, Bajaj Finance, Bajaj Finserv, Eicher Motors and Hero Motocorp were among major gainers on the Nifty, while losers were Vedanta, IOC, HDFC, Tech Mahindra and Reliance Industries.
Among sectors, except energy and IT, all other indices are ended on the higher side led by auto (up 2 percent), PSU bank (up 1.1 percent), pharma (up 1 percent) followed by FMCG, infra and metal. BSE midcap and smallcap indices ended with marginal gains.

HEADLINES OF THE DAY

Jubilant Life Q1 result: Consolidated net profit down 8.6% at Rs 185 crore versus Rs 202.5 crore, revenue was up 5% at Rs 2,182 crore versus Rs 2,079 crore, YoY.
Force Motors Q1: Net profit down 36.2% at Rs 26.15 crore against Rs 41 crore, revenue down 9.7% at Rs 802.48 crore against Rs 889.15 crore, YoY.
Shriram Transport buys back NCDs: Shriram Transport has bought back secured redeemable non-convertible debentures worth Rs 210.7 crore issued by the company on private placement basis.

The crucial resistance for Nifty spot is now seen at 11100 and above this 10960 Support for the immediate term is now placed at 11400 next support will be 11660.

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Closing Bell: Nifty ends July series below 11,300, Sensex flat; pharma stocks gain, Tata Motors slips 4%.



Benchmark indices ended the volatile day on flat note with Nifty finished the July F&O series below 11,300 mark.
At close, the Sensex was down 16.67 points at 37830.98, while Nifty was down 9.50 points at 11261.80. About 1059 shares have advanced, 1342 shares declined, and 171 shares are unchanged. 
Tata Motors, Bajaj Finance, Bajaj Finserv, Coal India and JSW Steel were among major losers, while gainers were Vedanta, Cipla, Zee Entertainment, Sun Pharma and IndusInd Bank.
Among sectors, metal, infra, auto and energy witnessed selling, while buying was seen in the IT and pharma. BSE Midcap index ended 0.5 percent higher, while BSE smallcap ended flat.

HEADLINES OF THE DAY

Ambuja Cements Q1: Cement maker Ambuja Cements has reported 17.5 percent fall in its June quarter (Q1FY20) net profit at Rs 412 crore against Rs 499.3 crore in the same quarter last fiscal.
Shares of pharma company Cipla rallied nearly 4 percent on July 25 after its US subsidiary acquired worldwide rights (excluding Greater China) of key anti-infective drug Zemdri.
Reliance Capital has fully repaid its outstanding commercial paper (CP) of Rs 75 crore on July 24, 2019. With the above repayment the CP outstanding stands at zero from the peak outstanding amount of approximately Rs 3,500 crore.
Bajaj Finance Q1 Profit Jumps 43% :- Bajaj Finance's June quarter (Q1) consolidated net profit missed analyst expectations due to higher provisions, rising 43 percent year-on-year to Rs 1,195 crore, the highest ever.

The crucial resistance for Nifty spot is now seen at 11400 and above this 11660 Support for the immediate term is now placed at 11140 next support will be 11020.

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Closing Bell: Nifty ends below 11,300, Sensex falls 135 points dragged by metal, auto and pharma.



Indian indices continue its downtrend on the fifth consecutive day on July 24 with Nifty finished below 11,300 level.
At close, the Sensex was down 135.09 points at 37,847.65, while Nifty was down 60 points at 11,271. About 834 shares have advanced, 1588 shares declined, and 153 shares are unchanged. 
UPL, Adani Ports, Indiabulls Housing, Eicher Motors and IndusInd Bank were some of the major losers on the Nifty, while gainers include Zee Entertainment, Asian Paints, HUL, HDFC and HCL Technologies. 
Among the sectors, metal index slipped over 2 percent, followed by auto, energy, infra, IT and pharma. Midcap index was down 1.5 percent, while Smallcap index shed over 1 percent.

HEADLINES OF THE DAY

V-Guard Industries Q1: Net profit rose 53.6% at Rs 53 crore against Rs 34.5 crore, revenue was up 10% at Rs 706.6 crore against Rs 642.4 crore. EBITDA up 52.1% at Rs 72.1 crore, while margin up at 10.2%, YoY.
Canara Bank Q1: Net profit up 16.9% at Rs 329.1 crore against Rs 281.5 crore, net interest income was down 16.6% at Rs 3,240.1 crore versus Rs 3,882.9 crore, YoY.
Jubilant Foodworks Q1: Jubilant Foodworks, the operator of Domino's Pizza has reported marginal fall in its consolidated net profit for the quarter ended June 2019. The company's Q1FY20 net profit was down 0.9 percent at Rs 71.5 crore against Rs 72.1 crore in the same quarter last fiscal. Revenue of the company was up 10 percent at Rs 949.1 crore against Rs 863.2 crore.
TVS Motor Singapore to invest USD7 mn in Scienaptic Systems: TVS Motor (Singapore) Pte. a wholly-owned subsidiary of TVS Motor has signed definitive agreements to invest USD7 million in Scienaptic Systems Inc. The closing of the investment is subject to obtaining appropriate regulatory approvals.

The crucial resistance for Nifty spot is now seen at 11460 and above this 11600 Support for the immediate term is now placed at 11140 next support will be 11020.

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Closing Bell: Indices end volatile day in the red, Sensex dives below 38K; PSU banks dragv.


Benchmark indices ended lower for the fourth consecutive day on July 23 as it remained volatile throughout the day with Nifty failed to hold above 11,350 level.
At close, the Sensex was down 48.39 points at 37,982.74, while Nifty was down 15.20 points at 11,331. About 1170 shares have advanced, 1259 shares declined, and 168 shares are unchanged. 
SBI, Indiabulls Housing, HDFC, Adani Ports and Bajaj Auto were among major losers on the Nifty, while gainers were Power Grid Corp, Kotak Mahindra Bank, ITC, Hero Motocorp and Asian Paints.
Among sectors, PSU banks dragged 3 percent followed by auto, metal, pharma, while buying seen in the FMCG, energy, infra and IT.

HEADLINES OF THE DAY

DCM Shriram Q1: Net profit was up at Rs 220 crore against Rs 217.8 crore, revenue was down 8% at Rs 1,902.5 crore versus Rs 2,067.9 crore, YoY.
Dr Reddy's launches Ramelteon Tablets: Dr. Reddy's Laboratories launched Ramelteon Tablets, 8 mg, a therapeutically equivalent generic version of Rozerem (ramelteon, 8 mg) Tablets, approved by the US Food and Drug Administration (USFDA).
Tata Consultancy Services has announced the successful completion of a large-scale cloud migration project for Randstad, a global leader in the HR services industry.

The crucial resistance for Nifty spot is now seen at 11520 and above this 11800 Support for the immediate term is now placed at 11220 next support will be 11100.

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Closing Bell: Nifty ends below 11,350, Sensex sheds 305 points; metal stocks gain, Bajaj Finserv falls 5%.



Benchmark indices reported third straight session loss on July 22 but ended off day's low with Nifty below 11,350 level.
At close, the Sensex was down 305.88 points at 38,031.13, while Nifty was down 73.10 points at 11, 346.20. About 816 shares have advanced, 1680 shares declined, and 155 shares are unchanged. 
Bajaj Finserv, HDFC, Kotak Mahindra Bank, HDFC Bank and Eicher Motors were among major losers on the Nifty, while gainers were Yes Bank, Vedanta, Hindalco Industries, Zee Entertainment and Indiabulls Housing.
Among sectors, Banks and FMCG indices ended 1 percent lower, while buying seen in the metal, pharma, energy, IT and auto. On the other hand, midcap index was down 0.6 percent, while smallcap index shed 1%.

HEADLINES OF THE DAY

GSK Pharma Q1: Net profit rose 35% at Rs 113.5 crore versus Rs 84.1 crore, revenue up 7.1% at Rs 788 crore against Rs 735.7 crore. EBITDA up 21.9% at Rs 165.3 crore and margin was at 21%, YoY.
Benchmark indices are recovered from the day's low with Nifty hovering around 11350 level.

The crucial resistance for Nifty spot is now seen at 11480 and above this 11600 Support for the immediate term is now placed at 11200 next support will be 11060.

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HDFC Bank could report more than 20% growth in Q1 profit, NII


HDFC Bank, which has the highest weightage in the Nifty50, is expected to report more than 20 percent growth in profit, net interest income (NII) and pre-provision operating profit on July 20.

Loan growth could also be healthy, driven by corporate advances who may provide strong support after the NBFC slowdown. However, there may be a slight slow-down of growth on the retail book.

HDFC Bank fell 1.16 percent ahead of June quarter earnings, but in last nine months, it gained 21 percent, giving major support to benchmark indices.


"NII is expected to grow by 25 percent YoY driven by stable NIM and healthy loan book growth. The NIM is expected to be stable even with rising cost of fund on account of increase in unsecured high yielding portfolio," said Narnolia which expects profit growth at 24 percent and pre-provision operating profit at 25 percent YoY for the quarter.

The brokerage expects income growth from fees to remain moderate, given that it is impacted by regulatory changes in mutual fund distribution fee income.

However, the bank's management had earlier said it expects the growth of 15-16 percent in fee income at some point of time going ahead.

According to ICICI Direct, profit growth is likely to be around 23.4 percent, NII at 22.4 percent and pre-provision operating profit 25.8 percent in Q1 compared to year-ago.

"Advances run rate is expected to slow down at around 17 percent YoY. The retail segment, which has been the growth engine in recent quarters, is seen remaining behind led by a cautious approach in unsecured lending products and a slowdown in auto sales. Corporate segment growth may remain healthy as the bank continues to remain a beneficiary of NBFC slowdown, as seen last quarter," ICICI Direct said, adding that asset quality is expected to remain steady.

Motital Oswal also said asset quality is expected to remain stable, with gross non-performing assets at around 1.3 percent for Q1 FY20.

Key issues to watch for would be the outlook on SME and retail book as management indicated some stress in same, and trends in digital banking/payments and various initiatives.

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Closing Bell: Indices end at 2-month low, Sensex sinks 560 pts, Nifty holds 11,400.



Benchmark indices ended at two-month low on July 19 after Finance Minister Nirmala Sitharaman dashed hope of a tweak in FPI surcharge. Continued asset quality concerns in Q1 also spooked markets.
The BSE Sensex was down 560.45 points or 1.44 percent at 38,337.01 and the Nifty50 plunged 177.60 points or 1.53 percent to 11,419.30. About three shares declined for every share rising on the BSE.
The broader markets also traded in line with benchmarks as the Nifty Midcap cracked 2.15 percent and Smallcap index declined 1.8 percent.
All sectoral indices ended in red, losing 1-3 percent. Nifty Bank lost 660 points.

HEADLINES OF THE DAY

HDFC Bank, Amara Raja Batteries, Future Lifestyle Fashions, United Nilgiri Tea Estates Company and Avanti Feeds will declare their earnings on July 20.
Punjab National Bank said it would consider raising up to Rs 5,000 crore via QIP/FPO/Rights Issue on July 25.
RBL Bank Set for the Biggest one-day fall ever
Sensex' fall of more than 500 points on Friday is the third biggest in 2019.
Reliance Jio Pips Airtel to Become India�s 2nd largest mobile operator in May: TRAI.

The crucial resistance for Nifty spot is now seen at 11280 and above this 11100 Support for the immediate term is now placed at 11600 next support will be 11820.

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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

For more details call on 9977499927 or visit our website www.capitalstars.com

Closing Bell: Late sell-off drags Sensex 318 pts, Nifty below 11,600; Yes Bank tanks 13%.


Benchmark indices fell sharply in late trade as US-China trade worries dragged global peers. All sectoral indices ended in red with PSU Bank, Auto and Metal falling 2.5-3 percent.
The BSE Sensex was down 318.18 points at 38,897.46 and the Nifty50 fell 90.60 points to 11,596.90. More than two shares declined for every share rising on the BSE.
The broader markets fell more than benchmark indices as the Nifty Midcap was down 1.7 percent and Smallcap index 1 percent.

HEADLINES OF THE DAY

Results to be announced on July 19
Reliance Industries, RBL Bank, Dhanuka Agritech, Mahindra CIE Automotive, JM Financial, Phillips Carbon Black, Dabur India, L&T Technology Services, ICICI Lombard General Insurance Company, Bhageria Industries, Hindustan Zinc, L&T Finance Holdings, InterGlobe Aviation and Bandhan Bank will declare their June quarter earnings on July 19.
The Indian rupee depreciated 14 paise to trade at around 68.96 against the US dollar.
IDFC First Bank said India Ratings revised outlook on senior debt to negative and reaffirmed rating at AA+.
City Union Bank said board approved raising upto Rs 500 crore through QIP.

The crucial resistance for Nifty spot is now seen at 11300 and above this 11160 Support for the immediate term is now placed at 11760 next support will be 11900.


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Closing Bell: Nifty gains for 3rd day but fails to hold 11,700; Midcap index underperforms.


Benchmark indices continued to gain for third consecutive session with the Nifty reclaiming 11,700 level intraday, driven by banks, FMCG and IT stocks.
The BSE Sensex was up 84.60 points at 39,215.64 and the Nifty50 rose 24.90 points to 11,687.50 while Nifty Bank gained 165 points.
But the market breadth was in favour of bears as about 1,350 shares declined against 1,099 advancing shares on the BSE.

HEADLINES OF THE DAY

ICICI Lombard General Insurance said Vishal Mahadevia resigned as Non-executive, Independent Director of the company.
Housing finance firm Home First Finance Company (HFFC) is mulling worth Rs 1,500-crore initial public offer, reports suggest.
Kotak Mahindra, Indiabulls Housing, HCL Technologies were the biggest gainers, while Yes Bank, ONGC and Eicher Motors were the top losers.
Yes Bank fell nearly 9 percent from day's high of Rs 108.40 intraday on caution ahead of June quarter earnings due later today.

The crucial resistance for Nifty spot is now seen at 11800 and above this 11960 Support for the immediate term is now placed at 11500 next support will be 11360.


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Closing Bell: Sensex gains 234 pts, Nifty ends above 11,650; Yes Bank, Tata Motors rally.


Benchmark indices closed strong with the Sensex rising 234.33 points to 39,131.04 and the Nifty50 climbing 72.70 points to 11,661.05 as all sectoral indices were higher except IT which lost over half a percent.

The market breadth was negative as about 1,285 shares declined against 1,149 advancing shares on the BSE.
The Nifty Midcap index gained 0.7 percent while the Nifty Smallcap index ended flat.
The Nifty Bank, Auto, FMCG and Metal indices climbed 0.4-1 percent while Pharma rallied 1.5 percent and Realty surged 2 percent.

HEADLINES OF THE DAY

Piramal Enterprises made interest payment on non-convertible debentures due today.
HDFC AMC's Q1 profit grew by 42.2 percent year-on-year to Rs 292 crore and revenue increased 7 percent to Rs 504.4 crore YoY.
Yes Bank Gets Back Above Rs 100 per share after seven trading sessions.

The crucial resistance for Nifty spot is now seen at 11520 and above this 11360 Support for the immediate term is now placed at 11800 next support will be 11960.

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Closing Bell: Infosys lifts Sensex 160 pts, Nifty fails to hold 11,600; mid, smallcaps fall.


Benchmark indices continued to trade higher, driven largely by Infosys after its Q1 earnings.

The BSE Sensex rose 165.12 points to 38,901.35 and the Nifty50 gained 38.50 points at 11,591.


HEADLINES OF THE DAY


Shriram Transport Finance Company said it proposed a public issue of upto Rs 10,000 crore by issuing secured redeemable non-convertible debentures (NCDs) of the face value of Rs 1,000 each.
The rally in Infosys drove benchmark indices higher but broader markets underperformed. 
Sun Pharma Advanced Research spiked 16% and Pidilite Industries gained 1.5 percent while RBL Bank fell 5.6 percent.
Bajaj Consumer Care shares gained 3 percent intraday after company's June quarter earnings report.
Crisis-hit property finance firm Dewan Housing Finance Corporation (DHFL) said it was working closely with its creditors and stakeholders on a resolution plan that would not require its lenders to take a haircut.

The crucial resistance for Nifty spot is now seen at 11700 and above this 11960 Support for the immediate term is now placed at 11460 next support will be 11200.


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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

For more details call on 9977499927 or visit our website www.capitalstars.com


Closing Bell: Sensex ends lower, Nifty fails to hold 11,600; Midcap index outperforms.


Benchmark indices reversed some previous day's gains on July 12 as traders turned cautious ahead of Infosys' earnings and economic data due later today.
The BSE Sensex was down 86.88 points at 38,736.23 and the Nifty50 fell 35.20 points to 11,547.70.
The broader markets outperformed frontliners with the Nifty Midcap and Smallcap indices rising 0.46 percent and 0.33 percent respectively.

HEADLINES OF THE DAY
Sensex was down 68.13 points or 0.18 percent at 38,754.98, and the Nifty was down 23.90 points or 0.21 percent at 11,559.00. About 1104 shares have advanced, 1230 shares have declined, and 121 shares are unchanged.
Vedanta, Asian Paints, Sun Pharma are among the top earners, while ONGC, Coal India and Wipro were the biggest losers.

On the sectoral front, all but four sectors were trading in the green. Pvt bank stocks were the biggest losers, down 0.37 percent on the Nifty. Metal stocks were the biggest winners, up 0.70 percent
IndusInd Bank Q1 profit jumps 38% post Bharat Financial merger, asset quality stumbles
IndusInd Bank Earnings :- Private sector lender IndusInd Bank reported a healthy growth in June quarter earnings after merger of Bharat Financial Inclusion with itself. Hence numbers are not comparable YoY.

The crucial resistance for Nifty spot is now seen at 11760 and above this 11900 Support for the immediate term is now placed at 11400 next support will be 11260.

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Closing Bell: Sensex gains 266 pts, Nifty fails to reclaim 11,600; all sectoral indices in green.

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The market recouped all its previous day's losses to close sharply higher after Federal Reserve chair Jerome Powell hinted at a rate cut ahead.
The BSE Sensex was up 266.07 points at 38,823.11 and the Nifty50 rallied 84 points to 11,582.90.
Hero Motocorp, IndusInd Bank, Tata Motors, Vedanta and SBI were top gainers among Sensex stocks, rising 2.5-4.6 percent while ICICI Bank, Bajaj Auto, Axis Bank, TCS and L&T were losers.

HEADLINES OF THE DAY


Glenmark Pharma Gains 2% :- Global rating agency Fitch affirmed company's long-term issuer rating at BB.
Greaves Cotton shares fell 9 percent intraday after company increases stake in subsidiary Ampere Vehicles Pvt Ltd.
Tata Motors' Global Wholesales :- "Global wholesales in June 2019, including Jaguar Land Rover, were at 95,503 units, lower by 5 percent compared to June 2018," Tata Motors said.
InterGlobe Aviation Falls 5% :- Sources told CNBC-TV18 that capital market regulator SEBI called IndiGo's Company Secretary for a meeting after a feud between Rakesh Gangwal and Rahul Bhatia over corporate governance issue.



The crucial resistance for Nifty spot is now seen at 11760 and above this 11900 Support for the immediate term is now placed at 11460 next support will be 11200.
 
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Closing Bell: Nifty ends below 11,500 for 1st time since May 17, Sensex loses 174 pts

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Benchmark indices ended volatile session sharply lower with the Nifty falling below 11,500 at close for first time since May 17 this year.
The BSE Sensex was down 173.78 points at 38,557.04 and the Nifty50 fell 57 points to 11,498.90.
The market breadth remained in favour of bears as about three shares declined for every two shares rising on the BSE.
Nifty Midcap, Auto, Metal, PSU Bank and Realty indices slipped a percent each.


HEADLINES OF THE DAY

Jaiprakash Associates said C P Jain resigned as an Independent Director of the company.
Tata Motors reported an 11.6 percent decline in JLR's sale at 128,615 units for the quarter ended June 2019. Retail sales for June fell 9.6 percent at 47,060 units, compared to June 2018.
REC in Focus :- Board approved raising up to Rs 75,000 crore via non-convertible bonds/debentures, company said in its BSE filing.
Tata Consultancy Services said it has been recognised with an overall positive rating in the recent Vendor Ratingl report by Gartner lnc, based on a holistic evaluation covering the company's strategy, product/ service, pricing structure, technology/ methodology, support/ account management and corporate viability.

The crucial resistance for Nifty spot is now seen at 11660 and above this 11800 Support for the immediate term is now placed at 11280 next support will be 11060.
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Closing Bell: Indices close volatile session mixed, Nifty holds 11,550; Mid, Smallcap indices outperform.

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Benchmark indices closed volatile session on a mixed note after falling sharply in previous two straight sessions due to tax proposals in Budget.
The BSE Sensex rose 10.25 points to 38,730.82 while the Nifty50 fell 2.70 points to 11,555.90.
The broader markets outperformed frontliners with the Nifty Midcap and Smallcap indices rising 0.4 percent each.
Bajaj Finance, Sun Pharma, IOC, Bajaj Finserv and Hero Motocorp were top gainers among Nifty50 stocks, rising 3-6 percent.
Titan Company plunged 12 percent. UPL, GAIL, TCS and Yes Bank fell 2-3 percent.

HEADLINES OF THE DAY

DHFL Falls 9% :- Shares of HFC Dewan Housing Finance Corporation fell 9 percent after a media report indicated that the company is likely to present a proposal for resolution to its lenders on July 11.
ICICI Securities said it announced the diversification of its business model by entering into retail asset (loans) distribution business, thereby opening a new revenue stream for the organization.
European stocks traded lower as diminished hopes of a rate cut from the US Federal Reserve this month continued to dampen market sentiment.
REC share price has crashed 15 percent today.
L&T to Announce Quarterly Earnings after 2 Weeks :- Larsen & Toubro said the meeting of the board of directors is scheduled on July 23 to consider and approve the unaudited financial results of the company for the quarter and three month period ended 30th June 2019.

The crucial resistance for Nifty spot is now seen at 11800 and above this 11960 Support for the immediate term is now placed at 11400 next support will be 11240.
 
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