Equity market indices witnessed a sharp recovery, held firm and ended with smart gains after a sell-off yesterday. The Sensex ended at 34,733.58, up 732 points or 2.15 per cent over yesterday's close. On the NSE, the Nifty posted 237.85-point gain and closed at 10,472.50. All the sectoral indices were traded in the green with the exception to IT index.
Markets vaulted today mainly driven by a rally in Auto, Banking, Healthcare, Metals, Oil & Gas and Capital Goods stocks following heavy buying from institutional investors.
World shares bounce after rout, set for worst week since February
Global shares were having their best day in nearly a month on Friday as European and Asian markets recovered from a brutal sell-off that still left them set for their worst week since February. Read more
Sensex holds firm, up 664 points at 34,665
Sensex was quoting at 34,665 in late trading on Friday, up 664 points or a gain of 1.95 per cent on its previous close. The Nifty also spurted 216 points to quote at 10,451, a gain of 2.12 per cent on Thursday's close.
The top gainers on the Sensex were Maruti, M&M, Kotak Bank, Bajaj Auto and Coal India. Sun Pharma and TCS were the laggards on the benchmark index.
Of the BSE sectoral indices, the technology and IT indices were the only indices in negative territory. The auto index drove up 4.01 per cent. Realty, metal, oil and gas and infrastructure were the other indices in positive territory.
2.40 pm
Dollar pares losses as equity sell-off eases
The dollar crept up on Friday, reflecting investor confidence in the US economy, despite criticism by President Donald Trump of the Federal Reserve and a sell-off in US equities. The decline in stocks has yet to spread into foreign exchange markets, with emerging market currencies still appreciating and the safe-haven Japanese yen and Swiss franc not budging significantly. Read more
Gold slips amid rebound in Asian stocks
Gold prices fell on Friday as Asian shares firmed, but the metal held near a more than 10-week high hit in the previous session when it breached a key resistance level, stoking optimism about a potential uptick in prices. Read more
1.30 pm
Equity market indices continued its winning streak in the midsession also. Equities held on to their gains on improved sentiment following fall in global crude prices and the rupee recovery.
Positive leads from most other Asian markets too fuelled the uptrend.
The Sensex climbed 786 points, or 2.35 per cent, to 34,800.95 with all the sectoral indices trading in the positive zone.
The Nifty on the NSE too gained 247 points or 2.42% at 10,482.
Nifty call: Buy on dips with stop-loss at 10,390 levels
Asian markets are in the green today, despite US markets extending their fall on Thursday. The Nikkei 225 has climbed 103 points or 0.46 per cent to 22,694 and Hang Seng has surged 493 points or 1.95 per cent to 25,760 in today's session. Taking cues from the bullish Asian markets, the Sensex and the Nifty began the day with a wide gap-up opening and continue to trend up. Read more
12.40 pm
Air India Express aircraft hits wall at Tiruchi airport, all passengers safe
Passengers of a Dubai-bound Air India Express flight escaped unhurt after the aircraft hit a wall Friday, officials said. There were 133 passengers and crew members on-board the aircraft, which took off from the airport here and later landed at Mumbai after four hours, they said. Read more
UB shares slide after competition watchdog raids
Shares of United Breweries Ltd fell as much as 3 per cent on Friday, a day after Reuters reported the brewer and two of its global rivals, had been raided in India as part of an ongoing investigation into price-fixing allegations. Read more
12.20 pm
Maruti Suzuki revs up 4 per cent
Maruti Suzuki India Ltd gained as much as 4.15 per cent and was quoted at Rs 7,158 today. The stock breached above the key resistance level at Rs 7,138.15. This level is identified as the 14.6 per cent Fibonacci retracement of the downtrend from July 24 high to Oct. 9 low. The stock touched an intraday high of Rs 7,199 today on the NSE. Read more
12.10 pm
Zydus Cadila gets tentative USFDA nod for diabetes drug
Drug firm Zydus Cadila on Friday said it has received tentative approval from the US health regulator to market Linagliptin and Metformin Hydrochloride tablets, used to control blood sugar levels in diabetic patients. Read more
Re pares gains against dollar
The rupee gave up some of its early gains to quote at 73.78 to the dollar at mid-day on Friday. This represented a gain of 34 paise on its overnight close. The domestic unit opened at 73.84. Read more
11.35 am
Sensex extends gains, up nearly 700 points
Sensex extended its gains to nearly 700 points in morning trade. Near the mid-session, the 30-share benchmark index was quoting at 34,681, up 680 points or 2 per cent above its previous close. The top gainers on the Sensex were M&M, YES Bank, ITC, Maruti, and Kotak Bank. The top losers were TCS, and Bharti Airtel.
The Nifty 50 was also trading firm at 10,444, up 210 points or 2.05 per cent higher. The top gainers on the NSE Nifty were Bajaj Finance, BPCL, M&M, HPCL and Maruti, while the losers were TCS and HCL Tech.
Niifty gainers
Nifty losers
Except for the technology and IT indices, all the other sectoral indices on BSE were in positive territory. The major gainers were realty, auto, oil and gas and metal.
NSE signs licensing pact with LME for reference prices
The National Stock Exchange, which will make its debut in commodity derivatives trading on Friday, has signed a licensing agreement with the London Metal Exchange for using its prices to settle contracts. Read more
Iran oil: US to hold talks with India, EU
A top US envoy on Iran is headed to India this week for talks ahead of the November 4 deadline set by the Trump administration for countries to bring down their import of Iranian oil to zero. In addition to India, the Special Representative for Iran, Brian Hook will be travelling to Europe to further discuss US foreign policy toward Iran. Read more
TCS falls nearly 3%
Software major Tata Consultancy Services Ltd (TCS) shares fall as much as 2.9 per cent to Rs 1,922.35, its lowest level since July 11. The company’s Q2 profit of Rs 7,901 crore ($1.07 bln) beat estimates on Thursday, helped by revenues from retail sector and banking, financial services and insurance clients. The compnay is expected to post double-digit revenue growth in this financial year. Read more
BoB shares gain over 4% on extension of CEO’s term
Shares of state-run Bank of Baroda Ltd rose over 4 per cent to Rs 98.20 on the BSE on Friday. The government extended the term of MD and CEO S. Jayakumar by one year, the bank said on Thursday. Read more
Planters cheer as Kerala abolishes agri income-tax
The Association of Planters of Kerala (APK) has hailed the State government’s decision to abolish agriculture income-tax (AIT), saying Kerala is the only State levying AIT at 30 per cent of profit. Read more
Sensex vaults 650 points
Sensex extended its gains in morning trade, quoting at 34,652, up 651 points on its previous close. The strong comeback has been put down to fresh purchases made by domestic investors ahead of key macroeconomic data to be released later in the day, the fall in global crude prices and rupee recovery. Positive leads from other Asian markets too fuelled the uptrend.
The top gainers on the Sensex were M&M, YES Bank, Maruti, Adani Ports and ITC. The top losers were TCS, Infosys and Wipro
The Nifty 50 was also trading firm at 10,427, up 193 points or 1.89 per cent higher.
Brokers said besides rupee recovery, build-up of positions by investors ahead of index of industrial production (IIP) numbers for August and inflation data for September - to be released later in the day - too impacted investor sentiment here.
10.15 am
Re strengthens 49 paise
Continuing its recovery, the rupee strengthened 49 paise to 73.61 against the US dollar in morning trade in the forex market on Friday after global crude prices eased. Besides, dollar-selling by exporters and banks, the greenback’s weakness against some currencies overseas, helped the recovery in the domestic currency. Read more
YES Bank selects Korn Ferry to find successor to Rana Kapoor
Private sector lender YES Bank has selected global leadership advisory firm Korn Ferry to help find a successor to its Managing Director and CEO Rana Kapoor. “Based on assessments and presentations made by global advisory firms, the search and selection committee has mandated Korn Ferry to assist the committee in evaluating candidates,” the lender said in a statement, on Thursday, after the first meeting of the search panel. Read more
Ind-Ra maintains stable outlook on cement sector
India Ratings and Research (Ind-Ra) on Thursday maintained a stable outlook on the domestic cement sector for the remaining period of this fiscal. The agency said it expects that the overall demand conditions will remain stable for the Indian cement manufacturers, considering a gradual economic growth forecast across cement end-markets, with real estate and infrastructure helping sustain volumes. Read more
Market, Rupee slump due to external factors: FinMin
Seeking to soothe the jittery market, a senior Finance Ministry official assured that there is a strategy in place and appropriate steps will be taken at right time to boost the stock market sentiments. He also expressed hope that crude prices will come down. Read more
Centre hikes import duty on key telecom equipment to 20%
In a move that will boost the domestic industry, the Centre has hiked the import duty on several telecom equipment. In three separate notifications, issued late in the evening on Thursday, the Finance Ministry hiked the import duty on eight key items to 20 per cent from 10 per cent. Read more
TCS posts 22.6% rise in Q2 profit; shares sunny outlook for FY19
India’s largest software exporter Tata Consultancy Services (TCS) reported a 22.6 per cent rise in its net profit for the quarter ended September 30 to ₹7,901 crore, largely backed by the rupee depreciation and improved business sentiment. Read more
Rupee strengthens 38 paise against US dollar
Continuing its recovery, the rupee strengthened 38 paise to 73.74 against the US dollar in early trade in the forex market on Friday after global crude prices eased. Besides, dollar-selling by exporters and banks, the greenback’s weakness against some currencies overseas, helped the recovery in the domestic currency. Read more
Dollar hovers near two-week lows on falling yields, Wall Street losses
The US dollar traded near its lowest level in nearly two weeks against its major peers on Friday as declining US treasury yields and further losses on Wall Street soured sentiment. Read more
China sells $3 bn in dollar bonds amid market turmoil
China has sold $3 billion of sovereign dollar bonds, its third such sale in the last 14 years, drawing healthy investor demand against a backdrop of global market turmoil and a trade war with the US. Read more
Oil prices rise, but still set for weekly fall
Oil prices rose on Friday slightly reversing two days of declines in the previous sessions driven by sharp falls in equity markets and indications that supply concerns have been overblown, but were still on track for a weekly fall. Read more
Asian markets on edge after 9-day rout
Asian shares appeared tentative on Friday, holding steady after a nine-day losing streak, but sentiment was frail after Wall Street shares crumbled and expectations of market volatility shot up to an eight-month high. Read more
Sensex up 500 points
Benchmark indices Sensex and Nifty opened the session in the green. Sensex opened at 34,291, and quickly jumped 504 points to quote at 34,505. NIfty 50 opened at 10,357, up 122 points or 1.2 per cent higher.
On Thursday, the Sensex fell 759 points, or 2.19 per cent, to close at 34,000. The Nifty fell 225 points, or 2.16 per cent, to close at 10,234.
Rupee opens firm
The rupee opened Friday's session at 73.84, up 28 paise on Thursday's closed at 74.12.
Today's Pick
VIP Industries (₹417.7): Buy
The stock of VIP Industries gained 5 per cent accompanied with above average volume on Thursday, due to buying interest. Moreover, the stock has moved above the key level of ₹400 and has formed a bullish hammer candlestick pattern in the weekly chart depicting an upward reversal. Read more
9:00 am
Day Trading Guide October 12
Given below are supports and resistances for Nifty 50 futures and seven key stocks that can help in your intra-day trading:
₹1935 • HDFC Bank
| S1 | S2 | R1 | R2 | COMMENT |
| 1920 | 1905 | 1947 | 1965 | Fresh long positions can be initiated with a stiff stop-loss if the stock rebounds up from ₹1,920 levels |
₹675 • Infosys
| S1 | S2 | R1 | R2 | COMMENT |
| 665 | 655 | 685 | 695 | Initiate fresh short positions with a tight stop-loss if the stock of Infosys fails to move above ₹685 levels |
₹265 • ITC
| S1 | S2 | R1 | R2 | COMMENT |
| 263 | 260 | 268 | 271 | A strong rally above ₹268 will be a positive cue to initiate fresh long positions with a fixed stop-loss |
₹152 • ONGC
| S1 | S2 | R1 | R2 | COMMENT |
| 150 | 147 | 156 | 159 | The stock is witnessing buying interest at lower levels. Buy in declines with a fixed stop-loss at ₹150 levels |
₹1089 • Reliance Ind.
| S1 | S2 | R1 | R2 | COMMENT |
| 1070 | 1050 | 1105 | 1120 | Consider initiating fresh long positions with a stiff stop-loss if the stock of RIL reverses higher from ₹1,070 levels |
₹262 • SBI
| S1 | S2 | R1 | R2 | COMMENT |
| 258 | 253 | 267 | 272 | Fresh short positions can be initiated with a tight stop-loss only if the stock of SBI falls below ₹258 levels |
₹1979 • TCS
| S1 | S2 | R1 | R2 | COMMENT |
| 1960 | 1940 | 2000 | 2020 | Fresh long positions are recommended with a fixed stop-loss only if the stock advances above ₹2,000 levels |
10252 • Nifty 50 Futures
| S1 | S2 | R1 | R2 | COMMENT |
| 10200 | 10150 | 10300 | 10355 | Consider initiating fresh long positions with a stiff stop-loss if the contract moves beyond 10,300 levels |
S1, S2 : Support 1 & 2; R1, R2: Resistance 1 & 2.
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