DSIJ Mindshare

The trade war tensions have escalated and the Asian markets have been rattled and have reached 6-month low post the deepening of trade war between the US and China.

Indian benchmark indices which remained subdued for almost the entire trading session, gave the last hour bounce back to close nearly 0.7 per cent up. Broader markets too closed in green but underperformed the benchmark indices. All the sectors closed in the positive territory where pharma followed by all banking sectoral indices and FMCG outperformed the markets.

Dr Lal PathLabs gave its prolonged multiple resistance breakout on Friday in the zone of 920-930 levels. The stock should sustain 930-932 levels on all daily, weekly and monthly closing basis to witness significant upside in future.

Brent oil rose on Friday after witnessing three consecutive red days as Russia and Saudi Arabia called for an increase in the output. The outcome of the meet has been discounted and Brent rose on Friday expecting a output hike by OPEC in the meeting scheduled later during the day.

In testing market condition on the last trading day of the week as well as the last day of subscription for two IPOs RITES and Fine Organics, investors seem to be wanting to subscribe these IPOs.