Market Wrap - Sep 8, 2020 - Angel Broking

Mr. Aamar Deo Singh, Head Advisory, Angel Broking Ltd

"Markets ended in the red today, on the back of profit booking and weak global cues, with the benchmark index Nifty 50 ending the day @ 11,317, down 37 points. Declines outnumbered Advances by 3:2 with all the sectoral indices closing in the negative, except the Nifty IT Index. Amongst the Top 3 Nifty Gainers were BPCL, HCL Technologies & Infosys whereas amongst the Top 3 Nifty Losers were Bharti Infratel, Tata Motors & Zee. Technically, we are seeing some selling pressure at higher levels with the range for Nifty seen in the short-term between 11150-11450."

Mr. Keshav Lahoti, Associate Equity Analyst, Angel Broking Ltd

"Like yesterday, today also Indian Indices traded in range bound manner, finally closing marginally in the red. Sensex and Nifty closed down by 52 points (0.14%) and 38 points (0.33%) respectively. Although Nifty outperformed Nifty Smallcap 100 (down by 0.96%) and Nifty Midcap 100 (down by 1.43%). All the major indices closed in red except Nifty IT (up by 1.20%). Nifty metal and Nifty Media were the worst performing index down by ~3% each. Top gainers of the Nifty were BPCL (2.97%), HCL Tech (2.41%) and Infosys (1.54%). Bharti Infratel, yesterday's best performing stock of the Nifty, today was the worst performing stock (down by 7.79%). Other top losers of the Nifty were Tata Motors (4.75%) and Zee Entertain (4.55%). Weak global cues also led to correction in the market FTSE and Nasdaq Futures was down by 0.27% and 2.20% respectively, whereas Dow Futures was marginally up by 0.13%."

Source : Equity Bulls

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