Daily Markets - Sep 7, 2020 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Indian equity benchmark indices ended Monday almost flat after a mildly volatile day on below-normal volumes. At close the NSE Nifty 50 index ended 21 points or 0.16% higher at 11,355. Market activity was subdued as the US market is closed on Monday due to labour day holiday.

Idea reacted from early morning strength after its much awaited press release did not throw any light on fresh funds infusion by the promoters or other investors. Infratel however rose as overall stability in the telecom sector augurs well for the annuity business of the company.

Asian markets were largely down driven down by China markets (despite healthy trade numbers). In Europe, German Industrial production data came in worse than expected and the pound weakened on growing prospects of the UK leaving the European Union without a trade agreement.

Nifty recovered from losses to end minorly in the positive. However it needs to move and stay above 11452 to give bulls a ray of hope.

Source : Equity Bulls

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