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Market Wrap Up for 7th April

Indian capital markets corrected on the last day of the week. Markets lost in the last trading hour on the news that post-demonetisation around 18 lakh bank accounts have been found where the amount deposited does not match with the income profile of the account holder. Nifty was not able to hold above the level of 9200. Market extended losses in mid-afternoon trade after hovering in negative terrain throughout the session triggered by worries of rising geopolitical tensions after US fired dozens of cruise missiles into Syria.

Overseas, European stocks edged lower as geopolitical tensions intensified after the US military struck a Syrian airfield near Homs and as investors exercised caution ahead of the non-farm payrolls report. Asian stocks were mixed. US President Donald Trump said he ordered the missile strikes following the deadly chemical attack that took place earlier in the week. US equities closed well off session highs yesterday, 6 April 2017, after Trump said he's willing to act alone on North Korea if China does not step up.

Stocks to look out for 10th April:

Grasim Industries: Grasim Industries’ shareholders clear Nuvo merger. 

Reliance Infrastructure: Reliance Infrastructure has bagged Rs 711 crore highways project in Tamil Nadu. 

Muthoot Finance: Muthoot Finance will raise Rs 2000 crore via NCDs. The share price of the company will remain in the limelight on Monday.

Deepak Fertilizers & Petrochemicals Corporation: NCLT approves demerger of ammonium nitrate business from Deepak Fertilizers & Petrochemicals Corporation.


KDDL: KDDL has signed pact with NOMOS & Oris to sell their watches in India. 

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