MARKET WRAP UP. 23-OCT-2018

Closing Bell: Sensex ends 287 pts lower, Nifty below 10,150; IT, pharma indices fall 3%.

It’s curtains on this session for the market. And it has been a marginal pullback in the last hour from its low points. A fall in crude prices, which slipped to around USD 79 per barrel is likely to have impacted the movement. The Nifty has ended below 10,200-mark, while the Sensex closed over 140 points lower.

At the close of market hours, the Sensex ended lower by 287.15 points or 0.84% at 33847.23, while the Nifty closed down 98.50 points or 0.96% at 10146.80. The market breadth is negative as 822 shares advanced, against a decline of 1,747 shares, while 1,013 shares were unchanged.

IndusInd Bank, HDFC, HPCL and Indiabulls Housing were the top gainers, while Sun Pharma and Asian Paints lost the most.

HEADLINES OF THE DAY

Inox Leisure down 5%: The company has reported marginal rise in its Q2 consolidated net profit at Rs 12 crore versus Rs 11.7 crore in the same quarter last fiscal. Revenue rose 17.4 percent at Rs 365.5 crore against Rs 311.3 crore.

PPAP Automotive Q2 results: The company has registered 25 percent jump in its Q2 net profit at Rs 11.6 crore versus Rs 9.2 crore.

TVS Motor Q2 result: TVS Motor on Tuesday reported a fall of 0.9 percent (year-on-year) in its net profit for the September quarter at Rs 211.31 crore. The company had reported a profit of Rs 216.16 crore during the same quarter of last year.

Mindtree gains 2%: The stock gained nearly 2 percent after seeing correction for previous three consecutive sessions, as JPMorgan upgraded the stock to overweight on attractive valuations.

Results to be announced tomorrow :- Bajaj Auto,Bajaj Holdings,Bharat Fin,Coromandel Engg,Everest Ind,Hexaware Tech,IDFC Bank,Indiabulls Real,Jubilant Food,Jyothy Labs,Kotak Mahindra,KPIT Tech,L&T Finance,L&T Infotech,Lakshmi Vilas,M&M Financial,Wipro..

The crucial resistance for Nifty spot is now seen at 10250 and above this 10400 Support for the immediate term is now placed at 10010 next support will be 9900.

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