Daily Market Reports From CapitalHeight


Daily Market Reports From CapitalHeight
Market commentary
                       Today Nifty was up 31 points at 11441 during the opening session, Sensex 199 points up at 37861, and Bank Nifty 113 points 28025. Indian rupees opened  at 70.15 and maintained the support of 70 till the closing session. Equity benchmarks have had a good note to the end the week on, as benchmark indices closed with strong gains. The Sensex closed almost 300 points higher, while the Nifty ended well above 11,450. All sectors ended in the green, with maximum gains seen among banks, metals, FMCG, and pharma names, among others. Midcaps, too, saw a strong rally, rising over 1 percent. At the closing time Nifty future was 76 points up at 11487, Bank Nifty future 265 points up 27173 and Sensex 284 points up at 37947.
 Nifty may remain bullish for the upcoming week , but the rupee woes need to be taken into consideration.

                                        Nifty Daily Chart
Nifty Daily chart by CapitalHeight
Nifty
R2
R1
Pivot
S1
S2
11557
11447
11250
11027
10947




Market Highlight
·       Shares of Lemon Tree Hotels rose 2 percent on Friday morning after the company signed a license agreement for a property at Vijayawada. The stock touched an intraday high of Rs 79.55 and an intraday low of Rs 78.50.The company signed a license agreement for a 90 room property at Vijayawada, Andhra Pradesh under the company's brand 'Red Fox Hotel'. 
·      Asian shares won a modest reprieve on Friday after China and the United States agreed to hold their first trade talks since June next week and as the Turkish lira extended gains from its record low earlier this week. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.46 per cent, a day after it hit its lowest level in a year. Japan’s Nikkei advanced 0.5 per cent.
·    Shares of pharmaceutical companies in focus with Nifty Pharma index was trading higher for the fourth straight day, hitting an over six-month high on the NSE. Sun Pharmaceutical Industries, Dr Reddy’s Laboratories, Glenmark Pharmaceuticals, Lupin, Aurobindo Pharma and Cadila Healthcare from the index, were up in the range of 1% to 4% on the NSE.
·       Markets regulator Sebi on Thursday drastically cut the timeline for listing of debt securities to six days from 12 at present, in order to make the existing process of issuance of such securities simpler and cost effective.Besides, the Securities and Exchange Board of India  has made ASBA (Application Supported by Blocked Amount) mandatory for all investors for making payment, while applying in a public issue of debt securities.

·       Jet Airways (India) Ltd's board will meet on Aug. 27 to approve financial results for the quarter ended June 30, the beleaguered carrier said on Friday, after it delayed its quarterly results earlier this month. India's biggest full-service airline deferred its quarterly results on Aug. 9, sending its shares to a three-year low. Jet said on Aug. 3 it would be able to cut costs and keep flying, despite reports that it had warned staff it was running out of cash.
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