Daily Markets - Sep 18, 2020 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Indian equity benchmark indices ended little changed on Sept 18 after a volatile final 1-1/2 hour of trade, attributed by some to the FTSE rebalancing and by reports of some tensions on the borders with Pakistan and China. At close Nifty closed 11 points, or 0.10 percent, down at 11,504.95. For the week, Nifty closed with a gain of 0.35%.

Volumes on the NSE were very high due to rebalancing activity with Pharma, Realty indices doing well while Bank index fell the most.

Stocks in Asia were mixed as investors awaited new catalysts.

European stocks struggled for momentum on Friday, with travel and bank stocks falling as a resurgence in coronavirus cases across the continent rekindled fears about the pandemic's impact on a nascent economic recovery. France registered a record 10,593 new confirmed coronavirus on Thursday, the highest single-day count since the pandemic began.

Nifty has closed the week with a nominal gain. It remained in a 200 odd point range for the past week. However downmoves are not large and are not followed through.

Source : Equity Bulls

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