Daily Market Wrap-Up - Oct 30, 2020 - Angel Broking

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

Markets witnessed a volatile session today, ending the day with minor losses for the benchmark index Nifty 50 @ 116423, down 28 points. During the 2nd half of the session, there was a recovery from the lows of the day, with advances outnumbering declines marginally. Autos and Financials were the major drag today, with Bharti Airtel, Hero Motocorp and Eicher Motors being the Top 3 Nifty Losers whereas Adaniports, Zee and Bharat Petroleum were the Top 3 Nifty Gainers. Nifty continues to witness selling pressure on the back of weak global cues, with support seen around 11450-11500 zone whereas resistance is seen around 11750-11800 levels.

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

Sensex and Nifty closed down by 0.3% and 0.2% respectively due to weak global cues. Some buying interest was there in midcap stocks, Nifty Midcap 100 closed up by 0.5%. Top gainers of the Nifty were Adani Ports (5.0%), BPCL (3.7%) and Coal India (3.0%). Top losers of the Nifty were Bharti Airtel (3.8%), Hero Motocorp (3.3%) and Eicher Motors (2.4%). Dow Futures, Nasdaq Futures and FTSE were down by 1.1%, 1.3% and 0.4% respectively. We expect volatility to continue in the market on the basis of global news around coronavirus cases, lockdown and US election.

Source : Equity Bulls

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