Daily Market Wrap-Up - Oct 14, 2020 - Angel Broking

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

"Markets bounced back from the lows of the day, with the benchmark index, Nifty 50 closing in green @ 11971, up 36 points. Broader markets ended mixed as advances and declines were evenly balanced. Amongst the Nifty Top 3 gainers were Bharti Infratel, Bajaj Finserv and Bajaj Finance whereas Wipro, NTPC and ONGC were the top 3 Nifty Losers. Overall, bulls continue to maintain the edge with Nifty finding strong support around 11700-11750 zone whereas resistance is seen around 12050-12100 level."

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

"For the tenth consecutive trading session Sensex and Nifty closed in green by closing up by 0.42% and 0.31% respectively. Nifty IT, one of the key performing indices, yesterday which recorded a new lifetime high closed down by 1.28% due to profit booking. Wipro was the top loser of the Nifty by closing down by 6.78% as the buyback price announced by the Company was just 6% above yesterday's stock closing price. Market rally was led by Nifty Bank which rose by 1.63%. All the top seven gainers of the Nifty were from BFSI space closing up by 2-4%. Like the last few trading sessions, today also Nifty closed in green, whereas Nifty Midcap 100 and Nifty Smallcap 100 closed in red. This clearly shows that investors are more tilted towards large cap stocks. Dow Futures, Nasdaq Futures and FTSE were flat."

Source : Equity Bulls

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