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Recapitulation of current market scenarios October 23 2020Market Update

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Market analysis-The market is slightly towards the higher side. Top performing companies in India namely Reliance being the highest market capital holder at 1,368,610.07 followed by TCS (TATA Consultancy Services) at 1,008,053.77, HDFC Bank at 679,267.17, HUL at 505,941.70, Infosys at 480,632.05 and HDFC at 369,666.65. Among all the sectors Auto index added 2 percent followed by metal and steel sector. BSE mid cap and small cap indices rose up 0.7 percent each. 




Over 100 Stocks hit 52-weeks highs 

Over 100 stocks, including Aditya Birla fashion and retail, CEAT, Crompton Greaves Consumer Electricals, Havells, Intellect Design Arena, JSW Steel, Phillips Carbon Black, Sonata Software, Supreme Industries, Tata Elxsi and Welspun India, hit 52-week highs on BSE.

Crude report- Oil prices slipped on Friday though they held on to most of the gains from previous sessions, after Russia President Valdimir Putin indicated he was prepared to extend record supply as cases of Covid-19 surge in United States and Europe. 

Flipkart to buy 7.8% stake in Aditya Birla Fashion for Rs 1500 crore 

Flipkart is buying 7.8% stake in Aditya Birla Fashion for Rs 1500 crore at Rs 205 per share latter said in the BSE statement. 

Experts believe that volatility is likely to provide good opportunities for Midcaps and small caps. Experts feel as the economic recovery continues in coming month, the broader markets will outperform over equity benchmarks. 


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