Market Wrap Up 15th March 2020
Nify and Sensex had not so great days today, from the lows the whole day market showed recovery and closed flat with Nifty scoring +9.7 and Sensex Scoring +9.71points.
Day 2 of Burger King (post its listing yesterday) proved to be a bumper once again, the stock broke the circuit at 20% and trading in the same halted for the day. For all those individuals who are in dilemma to hold on to Burger King or sell it off, we suggest you to book 50% profits for now, remaining you can sell it in future, as it’s a newly listed company it is not possible for us to look at technical charts and predict the future, however fundamentally company is not that strong as they have reported losses in last few years.
An international investor whose name is not revealed has come forward to pick up 42% stake from the holding company of Singer, who is into small home appliances and a well-known name in sewing machines.
India right now is 5th largest carmaker in the world and China is at 1st place, but the differences in volumes are too huge, China almost manufactures 10 times more cars than what India manufactures.
Crude oil slides down on basis of Demand Worries with respect to Covid 19 lockdown tightening across Europe and other nations.
Days Gainer: Burger King: +20%Days Loser: Nestle: -2.16%
Gold: Rs. 49,310 (+371) for every 10 gramsSilver: Rs. 64,194 (+723)
Petrol & Diesel prices remain unchanged for the day.
Market technically shows weakness, so we suggest you to trade with caution and pick up stocks by looking at Fundamentals and Technicals of the stocks.