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Daily market commentary - 15th October 2019 - BONANZA PORTFOLIO

Posted On: 2019-10-15 18:21:59

By Mr Jaipal Shetty, Fundamental Analyst

For September 2019 CPI of Rural, Urban, and Combined stood at 3.24%, 4.78% and 3.99%, respectively compared to 3.27%, 4.31% and 3.70% in September 2018.

Despite prolonged slowdown in the real estate sector, listed property developers are hoping to see a significant uptick in sales in the ongoing festive season.

Most auto companies are expected to report another dismal performance for the September quarter of 2019-20, due to low demand and steep discounts.

HUL reported good set of numbers against a challenging environment.

The BSE Sensex closed at 38,506.09, up by 291.62 points or 0.76% and NIFTY50 closed at 11,428.30, up by 87.15 points or 0.77%. The BSE mid cap index up by 0.72%, while small cap index fell by 0.11%.

The top gaining sectoral indices are NIFTY Auto up by 2.23%, NIFTY Metal up by 1.56%, NIFTY Bank up by 1.32%, NIFTY PVT Bank up by 1.30%. The top losing sectoral index today was NIFTY IT down by 0.45%.

The top gainers on the Sensex were Vedanta Ltd up by 3.79%, Mahindra & Mahindra up by 2.83%, ONGC up by 2.63%, Hero Motocorp Ltd up by 2.63% and Maruti up by 2.47%. On the flip side, Bajaj Finance Ltd down by 0.03%, Tech Mahindra Ltd down by 0.07%, HCL Tech down by 0.27%, Tata Motors down by 0.67%.


Source: Equity Bulls

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