Daily market commentary - 31st December 2019 - BONANZA PORTFOLIO LTD

Mr Jitendra Upadhyay, Fundamental Analyst

China's official Purchasing Managers' Index (PMI) for manufacturing came in slightly above expectations at 50.2 for the month of December.

The BSE Sensex closed at 41,253.74 down by 304.26 points or 0.73% and NIFTY50 closed at 12,168.45 down by 87.40 points or 0.71%. Source: (As per BSE & NSE website)

The BSE mid cap index down by 0.03%, while small cap index up by 0.37%. Source: (As per BSE website)

Federation of Indian Export Organisations (FIEO) President Sharad Kumar Saraf said that the India's exports are expected to touch $330-340 billion during the current financial year (FY20) due to uncertain global situation and rising protectionism.

The top gaining sectoral indices are NIFTY Metal up by 0.09% and NIFTY Realty up by 0.54%. The top losing sectoral indices are NIFTY Media down by 1.59%, NIFTY Auto down by 1.03%, NIFTY IT down by 0.70% and NIFTY Pharma down by 0.62%. Source: (As per NSE website)

Alkem Laboratories acquired new drugs application for drug Marinol (a type of appetite stimulant) from AddVie due to which company share price increased by 1.22%.

Source : Equity Bulls

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