Daily Market Wrap Up - Oct 13, 2020 - Angel Broking

Mr. Aamar Deo Singh - Head Advisory, Angel Broking Ltd

"Markets ended the day on a flat note tracking global cues, with profit booking being witnessed at higher levels. Nifty closed @ 11934, up 3 points wherein declines were marginally higher than advances. Amongst the Top 3 Nifty gainers, were HCL Technologies, Kotak Mahindra and Infosys whereas Zee, Bharti Airtel and Cipla were the Top 3 Nifty losers. Nifty continues to hold firm with resistance seen around 12050-12100 zone whereas support is seen around 11700-11750."

Mr. Keshav Lahoti - Associate Equity Analyst, Angel Broking Ltd

"Amid volatility, Sensex and Nifty closed flat. Nifty IT, best performing sectoral indices of the day, continues touching new life time high. Nifty IT is gaining due to re rating of the stock in the IT sector, announcement of buy back, better result expectation. The Supreme Court adjourned its hearing on interest waiver on loan moratorium to October 14. Unlike the last few months, now-a-days investors are more tilted towards large cap stock. Global cues were mixed as Nasdaq Futures was up by 0.85%, while Dow Futures and FTSE were down by 0.45% and 0.42% respectively. In upcoming days, we believe the market will react to earnings announced by the Company and the development in the US."

Source : Equity Bulls

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