Daily market commentary - 30th October 2019 - Mr Jaipal Shetty, Fundamental Analyst, BONANZA PORTFOLIO LTD

The markets closed in the green today with NIFTY 50 up by 0.49% at 11,844.10 and SENSEX closing higher by 0.55% at 40,051.87. The buoyancy in the India markets was led by good sales growth reported by Retailers and Auto OEMs during the festive period and also there are media reports suggesting a series of tax alignments for equities in the coming weeks in a bid to further boost investor sentiment Global markets were trading cautiously ahead the US FED meet.

IndiGo has placed an order for 300 Airbus aircraft worth an estimated $33 billion, it's largest so far, the stock closed 7.2% in the green today.

According to media reports Government has started divestment process for BEML. The Government is likely to do a strategic stake sale, the stock closed higher by 4.3% today.

Petronet came out with a good set of quarterly result with profits nearly doubling y-o-y, the stock closed higher by 2.2% today.

Source : Equity Bulls

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