The Indian market's benchmark indices corrected on 15 October after rising for two straight weeks. While the indices have picked up since, analysts have observed that the rise has been stock or sector-specific, which means that investors could buy quality stocks on dips for long term gains. For short term gains, traders could bet on banking or FMCG stocks.
Shares of Wipro gained close to 2% to day's high of Rs. 349.5 apiece in October 20, 2020 trade. This is after the IT major has been awarded a 5-year Application Management and Service Integration & Management (SIAM) contract from European energy firm Fortum. Wipro will capitalise on Wipro HOLMES for enabling process automation to provide improved end-user experience
Shares in Hatsun Agro Products in Tuesday's deal (October 20, 2020) traded lower by 1.39 percent at Rs. 838.40 per share on the BSE. On Monday, the board of the company recommended issuance of bonus shares as well as came up with the proposal to raise funds via QIP or Qualified Institutional Placement (QIP).
In early trade on Tuesday, gold futures on MCX (Multi Commodity Exchange of India) was trading at Rs 50,587 per 10 grams, which is 0.2 percent lower than the previous day's closing price. Silver futures were trading flat at Rs 62,097 per kg. The overall pattern appears to have not changed with international gold prices being stuck between $1,900 and $1,920.