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Thursday, May 18, 2017

Equity Tips

Benchmark indices ended the session on a negative note, dragged by weak global cues. Key indices such as midcaps, banks and auto fell, while information technology (IT) stocks managed to offer some support to the Street.
The 30-share Sensex was down 223.98 points at 30434.79, while the Nifty closed lower by 96.30 points at 9429.45. The market breadth was negative as 711 shares advanced against a decline of 2,037 shares, while 164 shares were unchanged.
IT stocks Wipro and TCS were the top gainers for the day, while BHEL, Tata Motors, Yes Bank and Bosch fell the most.

Midcaps took a big hit as its index on the Nifty fell over 2 percent, followed by auto, PSU banks and metals.

HEADLINES OF THE DAY
Bajaj Auto Q4 net profit falls 13.45% to Rs 862 cr on poor exports, BS-3 ruling.
Restructuring plan drags CESC 10%, announces stock split.
Cabinet approves long-awaited coal linkage policy.

UPCOMING RESULTS: GRASIM, JUSTDIAL, MMFORGING, SHAKTIPUMP, TATAPOWER, VGUARD, VRL LOGISTIC, KEC, KALPATRU, MOTHERSUMI, SBI, UNION BANK,  SINTEX.

The crucial resistance for Nifty spot is now seen at 9500 and above this 9535.Support for the immediate term is now placed at 9410 and next support will be 9360.

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647
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