Daily market commentary - 29th November 2019 - Mr Jaipal Shetty, Fundamental Analyst, BONANZA PORTFOLIO LTD

The markets corrected today with NIFTY 50 closing lower by 0.78% at 12,056.05 and SENSEX closing lower by 0.82% at 40,793.81 The recent rally and second-quarter GDP data to be released today post-market hours might have led to the correction. Global markets were on tenterhooks after China warned the United States on Thursday that it would take "firm countermeasures" in response to U.S. legislation backing anti-government protesters in Hong Kong.

Competition Commission of India (CCI) said it has approved Amazon.com NV Investment Holdings' proposal to acquire around 49% stake in Future Coupons, Future Retail closed 3.4% higher today.

CCI has also granted its approval to the acquisition of the stake in Adani Gas by Total Group, Adani Gas closed 7.9% higher today.

Dilip Buildcon received Rs 1,362cr order from Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) for EPC project in the state, the stock closed higher by 3.1% today.

Source : Equity Bulls

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