Daily Markets - Oct 20, 2020 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Indian benchmark indices rose for the third straight session on October 20. Nifty opened lower, but rose in the morning session to make an intraday high at about noon. It later fell and then went sideways in mildly positive territory. At close Nifty was up 23.80 points or 0.20% at 11896.80.

Volumes on the NSE were a little below recent average with Realty, Media, IT, Pharma and Auto indices rising while energy, FMCG, metal and PSU bank indices closed in the red.

Asian stocks slipped on Tuesday as investors adjusted risk exposure ahead of the U.S. election and ahead of a deadline for Washington to pass an economic stimulus bill. European equities struggled for traction on Tuesday as anxiety grew about the economic cost of the pandemic, while record COVID-19 cases in Europe also weighed on sentiment.

Nifty has outperformed most Asian markets. It keeps rising gradually making higher intra day highs and higher close. Sectors in favour changed again. Advance decline ratio was almost equal showing simultaneous entry and exit from sectors and stocks. Some more gradual upmove for the indices seem to be in store.

Source : Equity Bulls

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