STOCK MARKET VIEW FOR TRADING ON 19 OCT 2023

STOCK RESULT FOR 19 OCT 2023

Coforge Ltd

Cyient Ltd

Equitas Small Finance Bank Ltd

Hatsun Agro Product Ltd

Havells India Ltd

HFCL Ltd

Hindustan Unilever Ltd

ITC Ltd

Mastek Ltd

Mphasis Ltd

Nestle India Ltd

Tanla Platforms Ltd

Tata Coffee Ltd

Tata Communications Ltd

UltraTech Cement Ltd

United Breweries Ltd

Voltas Ltd

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The Indian stock market showed a sluggish performance with both Sensex and Nifty falling 550 and 150 points respectively. Financial and banking indices were hit hard, mainly due to missing earnings estimates from Bajaj Finance. On October 18, benchmark stock market indices ended the day on a negative note. The Nifty closed below the 19700 level. The Sensex, a major index, ended the day with a loss of 551 points, to settle at 65877. This decline was also influenced by concerns over quarterly earnings reports and tensions in the Middle East, which continued to drive market momentum. Concerns about possible supply disruptions from the Middle East caused oil prices to rise to nearly $92 a barrel. This increase was exacerbated by an incident at a Gaza hospital that dampened hopes of curbing the military conflict between Israel and Hamas. The Nifty found resistance at 19850, leading to a decline towards 19650. Going forward, the index could experience a range-bound move until it breaks out in one direction or the other. A fall below 19650 could give more strength to the bears and the Nifty could fall towards 19250. At the top end, a decisive move above 19850 could pave the way towards 20200.