Daily market commentary - 18th December 2019 - Mr Jitendra Upadhyay, Fundamental Analyst, BONANZA PORTFOLIO LTD

The markets closed in the green today with NIFTY 50 closing higher by 0.49% at 12,224.60 and SENSEX closing lower by 0.50% at 41,558.57. Finance Minister's comment that economic growth will take precedence over fiscal prudence seems to have aided the Indian benchmarks rise today. Global markets were trading cautiously as fresh uncertainties rose on the Brexit Deal.

NBCC closed higher by 0.14% today as its resolution plan for Jaypee Infratech received clearance from the Committee of Creditors.

Alembic Pharma closed higher by 0.6% today as it received tentative US FDA nod for antipsychotic drug, asenapine tablet.

Nifty IT Index closed 0.5% in the green today, led by improving US economic data and strengthening of US dollar against the Indian Rupee.

Tata Group stocks such as Tata Motors and Tata Global Beverages corrected 3% and 4% in trade today after National Company Law Appellate Tribunal (NCLAT) restored former Tata group Chairman Cyrus Mistry as executive chairman of Tata Group.

Source : Equity Bulls

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