Monday, July 8, 2019

MARKET SUMMARY OF 8 JUL 2019


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Nifty saw the biggest single-day fall in 2019 on July 8 as the government proposed imposing an additional surcharge on FPIs and Punjab National Bank detected another alleged fraud. The index broke its multiple support of 11,600–11,650 and closed below the same after 35 trading sessions. It closed below 50-DEMA and formed large bearish candle on daily charts as bears have dominated the grip in the market. Jet Airways hits lower circuit for 4th straight day on SFIO probe report Auto stocks skid; Maruti Suzuki, Hero MotoCorp, TVS Motor hit 52-week low Tax proposal in Budget 2019 hits Indian companies' year of share buybacks Mindtree dips 10% on resignation of 3 co-founders as L&T takes control

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