Daily market commentary - 30th December 2019 - BONANZA PORTFOLIO LTD

Mr Jaipal Shetty, Fundamental Analyst

- Crude Oil prices traded around its three-month highs led by optimism on US-China trade deal, unrest in the Middle East and declining US crude inventory.

- The domestic markets closed almost flat with NIFTY 50 closing at 12,257.6 and SENSEX at 41,589.08 (source NSE and BSE). The Indian markets seemed to be taking a breather as the year and decade near to a close.

- Nifty PSU Bank Index closed 1.2% lower in trade today which might be on account of profit booking after having rallied around 3% on Friday. Nifty Auto closed 1.5% higher in trade today ahead of the monthly Auto sales numbers which will be out the day after tomorrow.

- Snowman Logistics and Gateway distriparks were up by 1.3% and 12.1% in trade today as Gateway Distriparks announced that it has entered into a share purchase agreement to sell its entire stake of 40.25% in Snowman Logistics to Adani Logistics for a consideration of Rs 295.92cr.

- Vodafone Idea and Bharti Airtel closed 5.3% and 0.9% in the green today as Bharti Airtel Ltd has raised the minimum monthly recharge for prepaid users to Rs 45.

Source : Equity Bulls

Keywords