Daily Market-Wrap - Oct 7, 2020 - Angel Broking

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

"Markets continue their spectacular winning streak, with the benchmark index Nifty 50, ending the day @ 11,738, up 76 points. Amongst the heavyweights, Reliance and HDFC Bank led from the front. Surprisingly, declines outnumbered advances in today's upmove, which one needs to bear in mind. Amongst the Nifty Top 3 gainers were, Titan, Bajaj-Auto and Hero Motocorp, whereas Zee, Bajaj Finance and BPCL, were the Top 3 Nifty losers for the day.

Nifty has managed to hold above its earlier resistance zone of 11600-11650 which becomes an immediate level of support now, whereas the crucial resistance is seen around the 11800-11850 mark."

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

"Sensex and Nifty continue to be in the positive zone from the start of the week by closing up by 304 points (0.77%) and 76 points (0.66%) respectively. Like earlier days of this week, Nifty Midcap 100 and Nifty Smallcap 100 continue to underform Nifty by closing in red. Pathlabs sector stocks Thyrocare (up 20.00%) closed in upper circuit, Dr Lal Pathlabs (up 11.63%) and Metropolis Healthcare (up 4.32%) saw a sharp rally due to sharp jump in these companies revenue due to covid testing. Top gainers of the Nifty were Titan Company (4.50%), Bajaj Auto (3.54%) and Hero Motocorp (3.10%). Top losers of the Nifty were Bajaj Finance (4.12%), BPCL (2.78%) and Tata Motors (2.59%). Global cues were positive as Dow Futures and Nasdaq Futures were up by 0.56% and 0.43% respectively, while FTSE was flat."

Source : Equity Bulls

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