Monday, October 29, 2018

MARKET SUMMARY OF 29 OCT 2018


BUY TATAGLOBAL FUTURE ABOVE 222 TGT 224.50,229 SL 218
SELL GRANULES BELOW 99 TG 98.50,96 SL 102

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The S&P BSE Sensex reclaimed the 34,000-mark, ending at 34,067, up 718 points, while the broader Nifty50 index settled at 10,251, up 221 points.Among key stocks, ICICI Bank settled over 11 per cent to Rs 351.45 on the National Stock Exchange (NSE) after the private sector lender reported better-than-expected results for the September quarter of FY19.Divi’s Laboratories surged 15 per cent to end at Rs 1,444.20 on the NSE after the it reported a healthy 92% year-on-year (Y-o-Y) jump in its net profit at Rs 3.98 billion in September quarter (Q2FY19), on back of strong revenue growth. The company had a profit of Rs 2.07 billion in the year-ago quarter.In sectoral indices, Nifty PSU Bank index post sharpest single-day gain in past one year, surging 8 per cent after a media report suggested that the government expects some changes in the prompt corrective action (PCA) framework prescribed by the Reserve Bank of India (RBI) to enable more sanction of credit by PSU Bharti Airtel Ltd, India’s second-biggest wireless carrier, is delaying a planned initial public offering of its Africa unit due to the turmoil in emerging-market stocks, people with knowledge of the matter said.

Singapore Telecommunications Ltd, which owns a stake in Bharti’s parent company, said in August that the listing was slated for the first quarter of next year. The equity rout has derailed IPOs around the world, with companies from Spanish oil refiner Cepsa to U.S. filmmaker STX Entertainment scrapping or postponing their offerings.

TOP GAINERS:ICICIBANK,SBIN,ADANIPORTS
MAJORLOOSERS: HDFC,INDUSINDBANK,BHARTIARTL


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