Daily Market Note by Mr. Deepak Jasani, HDFC Securities 09 October 2019

Investment Guru India

Below is the Views On Daily Markets Note by Mr. Deepak Jasani, Head Retail Research, HDFC Securities

Markets corrected on Friday after the gains seen in the previous session. The weakness came on the back of a fall in some key Asian markets and weak US markets overnight. The Nifty lost 58.8 points or 0.51% to close at 11,512.4. Volumes on the NSE are back to normal after 5 days of unusually large volumes.

Broad market indices like the BSE Mid Cap and Small Cap Indices lost more, thereby underperforming the Sensex/Nifty. Market breadth was negative on the BSE/NSE. Sectorally, the top gainer was the BSE Telecom index.

The top losers were the BSE Metal, Realty, Healthcare and Auto indices.

Asian shares slipped to three-week lows on Friday as the release of a whistleblower complaint against U.S. President Donald Trump added to uncertainties about the global economy, already reeling from the China-U.S. trade war.

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