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10 September 2023
Sunday
Optimism from G-20 takes markets higher
Markets posted robust gains during the week and rose for the second week in a row and the Nifty settled above the key levels of 19,800 on the back of strong economic data. India is hosting the G20 summit and markets have reacted positively to the slew of announcements which will benefit corporate India. Globally, markets witnessed a volatile session with the biggest drag from Apple and a sell-off in chip stocks over concerns about China's iPhone curbs, while a fall in weekly U.S. jobless claims led to worries about interest rates and sticky inflation.
For the week, the Nifty ended higher by 2 pct to 19,820 levels while the Nifty Midcap and the Nifty Smallcap index gained 3.9 pct and 3.4 pct respectively. On the sectoral front, Nifty Realty index gained 4.9 pct and Nifty Energy was up 4.2 pct while Nifty Media gained 5.2 pct and Nifty Bank gained 1.6 pct. There was no sectoral loser during the week.
On the institutional activity front, FIIs were net sellers to the tune of Rs 92.19 bn and DIIs were net buyers to the tune of Rs 45.71 bn. Sustained DII investment supported by strong retail buying is driving the market higher despite FII selling.
On the portfolio front, we booked full profits in Pilani Investments with gains of 30 pct and Jamna Auto with gains of 23 pct.
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Share Name | Date | Entry Price | Target Price | Exit Price | Return % |
---|---|---|---|---|---|
Tata Motors | 19th Feb, 2019 | 102 | 250 | 242 | +237.25 |
L&T | 30th Mar, 2020 | 798 | 1500 | 1500 | +87.96 |
Titan | 30th Mar, 2020 | 850 | 1400 | 1400 | +64.7 |
Britannia | 30th Mar, 2020 | 2213 | 3600 | 3635 | +64 |
Hero Motocorp | 30th Mar, 2020 | 1588 | 2800 | 2557 | +61 |
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