Nifty ends above 10,800 on stimulus hopes from FM meet-Karvy Daily Wrap-up (23-08-2019)
The equity benchmark indices surged in afternoon session, boosted by reports that the government may soon roll back the additional surcharge on foreign portfolio investors (FPIs). Nifty settled the day at 10,829.35 levels with a gain of 0.82%. The India volatility index settled at 17.29 levels down by 3.13%. Sectorally, all the sectoral indices closed in green except NIFTY PVT BANKS and FMCG. NIFTY MEDIA was the top gainer ended with a gain of around 4.18% followed by METAL and PSU BANKS that gained 3.41% and 2.03% respectively. As far as stocks are concerned ZEEL, UPL and VEDL were among the top gainers while INDUSINDBK, ITC and EICHERMOT were among the top losers. On global front, Asian indices closed on a flat to positive note. Japan's Nikkei closed on a positive note with a gain of 0.40%, South Korea's Kospi ended on a flat note and China's Shanghai Composite Index gained 0.49%. European markets were trading on a positive note ranging from 0.40% to 0.90%. Technically, the immediate support for Nifty is around 10800 levels followed by 10700-10720 levels. On the upside, immediate resistance is seen around 10880-10900 levels followed by 11000 levels.-Presented by Deepak Balkrushna Sakure (Research Analyst)
The equity benchmark indices surged in afternoon session, boosted by reports that the government may soon roll back the additional surcharge on foreign portfolio investors (FPIs). Nifty settled the day at 10,829.35 levels with a gain of 0.82%. The India volatility index settled at 17.29 levels down by 3.13%. Sectorally, all the sectoral indices closed in green except NIFTY PVT BANKS and FMCG. NIFTY MEDIA was the top gainer ended with a gain of around 4.18% followed by METAL and PSU BANKS that gained 3.41% and 2.03% respectively. As far as stocks are concerned ZEEL, UPL and VEDL were among the top gainers while INDUSINDBK, ITC and EICHERMOT were among the top losers. On global front, Asian indices closed on a flat to positive note. Japan's Nikkei closed on a positive note with a gain of 0.40%, South Korea's Kospi ended on a flat note and China's Shanghai Composite Index gained 0.49%. European markets were trading on a positive note ranging from 0.40% to 0.90%. Technically, the immediate support for Nifty is around 10800 levels followed by 10700-10720 levels. On the upside, immediate resistance is seen around 10880-10900 levels followed by 11000 levels.-Presented by Deepak Balkrushna Sakure (Research Analyst)