Daily market commentary by - January 7, 2020 - BONANZA PORTFOLIO LTD

Mr Jitendra Upadhyay, Fundamental Analyst- Oil surrendered some hefty gains as many doubted Iran would strike back in a way that would disrupt supplies, and its own crude exports.

- The BSE Sensex closed at 40,869.47 up by 192.84 points or 0.47% and NIFTY50 closed at 12,052.95 up by 59.90 points or 0.50%. Source: (As per BSE & NSE website)

- The BSE mid-cap index up by 0.65%, while small-cap index up by 0.99%. Source: (As per BSE website)

- The Union government is set to cut the annual budgetary expenditure for FY20 by Rs 2.2 lakh crore or 8% of the budget estimate (BE) as tax revenues remain significantly lower than the required rate.

- The top gaining sectoral indices are NIFTY Realty up by 1.93% and NIFTY Media up by 1.04%, NIFTY Fin Service 0.79%, NIFTY Metal up by 0.73% and NIFTY Pharma up by 0.62%. Source: (As per NSE website)

- Hindustan Construction Company (HCC) share price gained by 3.75% after its joint venture company received the Delhi metro order.

Source : Equity Bulls

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