Daily Market Reports From CapitalHeight


Market commentary
Benchmark indices rise higher today after rupee recovered from the 16 month low against dollar. The S&P BSE Sensex ended at 34,925 up 262 points while the broader Nifty50 index settled at 10,605 up 91 points. Asian shares were slightly weaker today after US President Donald Trump called off a key summit with North Korea. Among sectoral indices, the Nifty Metal index gained over 2% led by a rise in Hindalco, SAIL, JSPL and Tata Steel. The Nifty Auto index also rose over 1% led by Exide Industries and Tata Motors. Page Industries, Castrol, Adani Power, Avenue Supermarts, Cadila Healthcare, Gateway DI striparks and MCX surged up to 20 percent. While Granules India fell 5 percent and IDBI Bank declined 2 percent.
                    On Monday Nifty maybe at the index value of 10598 to a maximum value of 10757 and minimum value at 10439. The sectors which would be bullish are metal sector, FMCG sector and pharma.   

                                   Nifty Daily Chart


Nifty
R2
R1
Pivot
S1
S2
10780
10694
10551
10465
10322





Market Highlights
·       Turmoil over government formation in Karnataka will end soon with newly sworn-in Chief Minister H D Kumaraswamy facing a floor test in Bengaluru on Friday to prove his majority. While Kumaraswamy should sail through smoothly with the Janata Dal (Secular)-Congress coalition's support behind him, two possible irritants for the health of his government have already emerged.

·       The National Stock Exchange (NSE) and the Multi Commodity Exchange (MCX) entered into merger talks ahead of the implementation of the universal exchange framework in October, said a top official. The two entities are planning to approach market regulator Securities and Exchange Board of India (Sebi) as early as this month. The merger will help NSE and MCX cement their leadership position both in the equities and commodity derivatives space.
Results on Saturday
Deep Ind,SMS Pharma,Sandhar,SeshaPaper,ArentErp,ArentErp,PLand,NDL,INDothai,
PudumjeePaper, AvantiFeed,SuranaSolar,Megh,GRPL,NationalAlum,Speciality,Ganecos,
Centrum,SardaEn,NagreekExp,BhagyaNgr,Alpa,BAjajHind,EutoTex,Zodiac,
AmjLand,DynPro,Zentec,VRllog,DBCorp,ShardaMotor,Divislab,Urja,Wipl,GRpLtd, CGCl,LibertShoe,SuranaTelecom,TechnoFAb,KSK,Techno,KothariPro,NDl,Dixon, Wonderla, DamodarInd,TFCILtd,BFInvest,DBStockBro,SSWL