Daily Market Wrap-Up - Oct 20, 2020 - Angel Broking

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

"Markets traded sideways during the day, with the benchmark index Nifty 50 closing @ 11,896, up 23 points, on the back of positive global cues. The advances outnumbered declines by 5:4. Amongst the Top 3 Nifty gainers, were Zee, Bharti Infratel and HCL Tech, whereas Britannia, ONGC and IOC were amongst the Top 3 Nifty losers. The markets are witnessing selling pressure and profit booking, with Nifty seeing resistance around 12000-12050 zone while support is seen around 11600-11650 zone."

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

"Sensex and Nifty closed up by 0.3% and 0.2% respectively on the back of positive global cues. On the sectoral indices front, Banking, IT, Pharma, Realty closed in green. Whereas FMCG, Metal, Energy closed in red. Top gainers of the Nifty were HCL Tech (4.1%), Tech Mahindra (3.1%) and Asian Paints (2.3%). Top losers of the Nifty were Britannia (5.8%), ONGC (2.7%) and IOC (2.3%). Britannia corrected due to weak Q2FY21 results. Dow Futures, Nasdaq Futures and FTSE were up by 0.5%, 0.6% and 0.2% respectively. Next few days, market action will be dependent on result announcement, management commentary post result and global happenings."

Source : Equity Bulls

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