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CAPITALSTARS PRESENTS EQUITY MARKET UPDATE : 26 DEC 2019

INDIAN FACE  
                      
INDIAN EQUITY BENCHMARK

Equity benchmark indices extended morning gains led by Reliance, HDFC, ICICI Bank and Axis Bank. The Sensex was up by 338 points to 41,501 while the Nifty edged higher by 99 points at 12,226. The Nifty PSU Bank index rose 3% as buying was seen in IOB, Bank of Baroda, PNB, UCO Bank and Union Bank. BPCL, Axis Bank, Power Grid and SBI are among the top gainers, while Britannia, Yes Bank, Wipro and JSW Steel were top losers. Among the 50 stocks in the Nifty index, 39 were trading in the green, while 11 were in the red.

GLOBAL FACE


Asian Market- Asian markets finished mixed as of the most recent closing prices. The Hang Seng gained 1.30%, while the Nikkei 225 led the Shanghai Composite lower. They fell 0.36% and 0.08% respectively.


U.S. Market – North and South American markets finished broadly higher on Thursday with shares in Brazil leading the region. The Bovespa is up 1.16% while U.S.'s S&P 500 is up 0.51% and Mexico's IPC is up 0.32%.


European markets- European markets are higher today with shares in London leading the region. The FTSE 100 is up 0.29% while France's CAC 40 is up 0.27% and Germany's DAX is up 0.21%.


NIFTY SPOT 





MARKET TALKS

Auto industry drives into 2020 with hope after a forgettable 2019: PTI
Battered by an unprecedented slowdown, the Indian auto industry is desperately pinning hopes on the next financial year for a turnaround, banking on a host of new and upgraded models slated to make their way to the market. The industry's hopes are also in line with expectations that the economy would finally come out of the slump, drawing people back to the showrooms. 

Page Industries surges 4% on ICRA ratings
Shares of Page Industries climbed 4% after ICRA reaffirmed 'stable' ratings on the bank facilities of the company. ICRA reaffirmed the long-term rating of the company to ICRA AA (stable) while the short term rating has been reaffirmed to ICRA A1+, the company said. The rating agency has also reaffirmed the long term and short term unallocated bank facilities of Page Industries to ICRA AA (stable), as per the filing.

LT Foods up ~6% after announcing the inauguration of manufacturing facility in Sonipat
LT Foods announced that Daawat Kameda India Private Limited, a 51:49 Joint Venture (JV) between LT Foods Limited and Kameda Seika, Japan has inaugurated a manufacturing facility in Sonipat as on December 27, 2019. LT Foods is a leading rice-based food a company with Strong Global Brands of Basmati, i.e., “Daawat”, “Royal”, etc. and other Specialty Rice, Organic Foods and Rice-based Convenience Products and Kameda Seika, a Japanese snack food major entered into a joint venture in 2017 to manufacture rice based premium snacks in India.

Sugar stocks gain led by Balrampur Chini, Bajaj Hindusthan Sugar  
Shares of sugar companies gained for the second consecutive session in the afternoon trade on Friday. Lower cane crushing and subsequent decline in sugar production have led to sugar stocks rally in the past few sessions. Shares of Balrampur Chini Mills hitting a 13-year high on Friday on the BSE, up 4% on Friday’s trade. Indian Sugar Mills Association (ISMA) said in its latest press release, “India sugar production is down 35 percent year on year (YoY) at 4.58 mn tonne as on 15 December. 

NAME OF THE STOCK : MOTILALOFS 

DATE : 30/12/2019 

SEGMENT : CASH 

CHART TYPE : Candlestick 

EXCHANGE : NSE 

TECHNICAL INDICATORS USED : VOLUME.MACD, RSI.



INVESTMENT ADVICE:

CALL CS CALL: BUY MOTILALOFS CASH NR CMP 754 TGT 774 SL 739

RATIONALE FOR ARRIVING INVESTMENT ADVICE : 

THE STOCK TECHNICALLY IS UP, TAKING SUPPORT OF VOLUME. RESISTANCE IS BROKEN TODAY WITH HEAVY VOLUME. AS WELL AS A POSSIBILITY OF UPWARD MOVEMENT IS THERE.

OTHER REASON IF ANY: SHOWING STRENGTHS IN INTRADAY CHARTS AS WELL


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