Daily Market Update: NIFTY and Sensex in red, Banking stocks crack.

Date: 22/11/2018

Short Market Update: Negative end for markets, trading holiday on November 23rd and Shreyash Devalkar exits Axis Equity Hybrid Fund as a Fund Manager.

Markets ended on a negative note. Metal and Telecom stocks witness selling.

BSE Sensex down 218.78 points or 0.62% and closed at Rs 34,981.02, and NSE Nifty ended lower by 73.20 points or 0.69% at Rs 10,526.80. BSE Mid Cap down 110.78 points or 0.74% and closed at Rs 14,880.34. And, Small Cap Index down 63.66 points or 0.44% and ended at Rs 14,350.83.

Today’s top gainers were Zee Entertainment, Adani Ports and Larsen.

Biggest losers were M&M, IOC, Grasim, and UltraTech Cement.

Sectorial indices witnessed selling, consumption, energy, financials, metals, and pharma were among the others. Private banks contributed most to NIFTY Bank’s underperformance.

DHFL Pramerica Global Equity Opportunities Fund (DPGEOF) launched by DHFL Pramerica Mutual Fund

It is an open-ended fund-of-fund scheme investing in PGIM Jennison Global Equity Opportunities Fund. The underlying fund is a global fund that is 7.5 years old. The fund offers Indian investors an opportunity to invest in growth-oriented companies around the world. Besides that, there is no investment restriction on countries or sectors.

Shreyash Devalkar exits Axis Equity Hybrid Fund as a Fund Manager. Post the exit, the fund currently is co-managed by Ashish Naik and R. Sivakumar.

On the account of Guru Nanak Jayanti tomorrow is a trading holiday.

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