Fundamental Daily Equity Trading Tips 7 Oct-2019

Key barometers extended losses for fifth consecutive session on Friday, dragged by selling pressure in banks and metal stocks. The Nifty ended below the 200-day simple moving average (DMA) placed at 11,262. Market sentiment was dented after the Reserve Bank of India (RBI) cut its FY20 GDP growth rate forecast sharply to 6.1% from 6.9%. Investors were also cautious ahead of US jobs numbers later today for clues on whether the US central bank will cut rates this month.

Global Markets

Apple announced a service repair program on Friday for some iPhone 6s and iPhone 6s Plus devices. Affected phones were manufactured between October 2018 to August 2019. U.S. stocks were higher on Friday, as gains in the Technology, Financials and Healthcare sectors led shares higher.The Dow Jones Industrial Average gained 1.42%, while the S&P 500 index gained 1.42%, and the NASDAQ Composite index gained 1.40%.

Stock Snippets

Dhampur Sugar Mills successfully launched Country Liquor at its Distillery unit at Dhampur. Shares of Info Edge India gained nearly 6 percent intraday after a media report talked about a fund raising plan from Zomato. Shares of Alembic Pharmaceuticals rose 3 percent intraday after the company’s joint venture received the USFDA’s approval for a spray used for treating plaque psoriasis. Shares of Zee Entertainment Enterprises fell more than 5 percent intraday after global brokerage Morgan Stanley slashed its target price by 33 percent amid debt concerns. Shares of private lender Yes Bank rallied 8 percent intraday after promoter entities and Rana Kapoor reduced their stake significantly and assurance from the CEO Ravneet Gill that the fundraising plan is on track. Anheuser Busch InBev signs Rs 150 crore agreements with Indian Hotels. It plans to open 15 microbreweries in over five years

Global Markets

Germany stocks were higher after the close on Friday, as gains in the Pharmaceuticals & Healthcare, Media and Financial Services sectors led shares higher.The DAX rose 0.73%, while the MDAX index added 1.66%, and the TecDAX index added 1.82%. France stocks were higher after the close on Friday, as gains in the Foods & Drugs, Gas & Water and General Financial sectors led shares higher.The CAC 40 rose 0.91%, while the SBF 120 index gained 0.91%. Denmark stocks were higher after the close on Friday, as gains in the Chemicals, Software & Computer Services and Technology sectors led shares higher.The OMX Copenhagen 20 rose 1.29%.

(Click to submit your details) Just one step to get the best trading tips and Recommendation.


Leave a Reply