Daily market commentary - 17th December 2019 - Mr Jitendra Upadhyay, Fundamental Analyst, BONANZA PORTFOLIO LTD

Today Asia share gained, but a lack of detail about the Sino-US trade deal tempered some of the exuberance that sends wall street to record highs overnight.

The wholesale prices based inflation has rose to 0.58 per cent Year-on-Year in November, driven by an increase in prices of food.

IMF Chief Economist Gita Gopinath says the government should undertake structural reforms such as bank clean-up and labour reforms to address the slowdown in domestic demand.

The board of director has a proposal for Buy-Back of share due to which share price of NIIT technology increased by 8.97%.

The BSE Sensex closed at 41,352.17 up by 413.45 points or 1.01% and NIFTY50 closed at 12,165.00, up by 111.05 points or 0.92%.

The BSE mid-cap index up by 0.38%, while small-cap index up by 0.66%.

The top gaining sectoral indices are NIFTY Metal up by 2.88%, NIFTY IT up by 1.88% and NIFTY Media up by 0.97%. The top losing sectoral indices are NIFTY Pharma down by 0.33% and NIFTY Realty down by 0.26%.

The top gainers on the Sensex were Tata Steel Ltd up by 4.38%, Bharat Airtel Ltd up by 4.30%, Vedanta Ltd up by 3.50%, Tata Motors Ltd up by 3.03% and HDFC Ltd up by 2.46%. On the flip side Sun Pharma Ltd down by 1.37%, Mahindra & Mahindra Ltd down by 0.63%, Bajaj-Auto Ltd down by 0.56% and Hindustan Unilever Ltd down by 0.48%.

Source : Equity Bulls

Keywords