Bulls lift indices to new closing peak; Sensex up 458 pts; pharma stks gain

The Nifty Pharma index edged up 3 per cent, followed by gains in the Nifty PSB index (up 2.3 per cent), and the Nifty Pruvate Bank index (up 2 per cent)

8:51 AM

NEWS ALERT :: Tata Motors allots 23.13 cr equity shares to Tata Sons at Rs 150/sh after warrant conversion

(Source: CNBC TV18)

8:47 AM

Result today | Bharti Airtel may return to black in Q3, revenue to grow over 15%: Analysts

Bharti Airtel is set to announce its December quarter results of FY21 (Q3FY21) on Wednesday amid expectations of strong earnings in which the telecom operator may return to profit while revenues may grow in mid-teens on a year-on-year (YoY) basis, mainly on account of strong subscriber addition momentum. During the quarter under review, Airtel recorded 6.3 per cent YoY growth in subscribers to 30.1 crore, with data subscribers rising 24.6 per cent YoY to 17.3 crore. READ PREVIEW HERE

8:43 AM

Stocks to watch: Home First Finance, Airtel, PVR, Indigo Paints, RIL

Home First Finance: Shares of Home First Finance will debut on the bourses today. The issue that ran between January 21-25 was subscribed 27 times.

 

Q3 earnings: Bharti Airtel, Adani Enterprises, Adani Green Energy, Apollo Tyres, Arvind Fashions, Deepak Fertilisers, Hindustan Copper, Indian Hotels, Inox Leisure, Jubilant FoodWorks and VIP Industries are among the 88 companies that are slated to announce their December quarter earnings today. READ MORE

8:40 AM

'Nifty eyeing 15,470 over the medium-term'

By closing at all-time high levels, Nifty has resumed its primary uptrend. In the last two sessions, Nifty has rallied almost 8 per cent. Nifty Bank and Nifty Financial Services indices have outperformed by surging more than 11 per cent. While after the sharp rally there is a possibility of consolidation in the Index, at the same time, stock specific moves could continue on the upside. Support has shifted up to 14,400 odd levels in Nifty. Medium term target for the Nifty is seen somewhere at 15,470 levels, which happens to be 161.8 per cent Fibonacci retracement of the entire down move seen from Jan 2020 top to March 2020 bottom. READ MORE

8:36 AM

Top stock picks by Ajit Mishra

Ambuja Cements Limited

Recommendation: Buy

Target: 294

 

Stop loss: 256

 

Mostly cement stocks have gained substantially in the last two trading sessions and Ambaja Cement is also trading in tandem with the trend. It surged almost vertically from the support zone of the medium-term moving average (100 EMA) on the daily chart and made a new record high as well. The chart pattern, combined with recent buoyancy in the market, is pointing towards a steady up move ahead. Traders can create fresh longs on any dip in the given range. READ MORE

8:33 AM

Bulk deals on the NSE as on Tuesday

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8:30 AM

Bulk deals on the BSE as on Tuesday

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8:26 AM

FII/FPI & DII trading activity on NSE, BSE and MSEI

8:23 AM

Rupee check

Source: Bloomberg

8:20 AM

Oil rises on falling crude stocks, demand hopes on stimulus and vaccine rollouts

>> Oil rose in early trade on Wednesday on expectations global oil stocks will fall back to more normal levels this year and as U.S. lawmakers moved closer to approving President Joe Biden’s $1.9 trillion COVID-19 aid bill without Republican support.

>> U.S. West Texas Intermediate (WTI) crude futures climbed 11 cents, or 0.2%, to $54.87 a barrel, in a third straight day of gains. The benchmark hit a one-year high of A$55.26 on Tuesday.

 

>> Brent crude futures rose 16 cents, or 0.3%, to $57.62 a barrel, in a fourth straight day of gains after hitting $58.05 on Tuesday, its highest in more than 11 months.

(Source: Reuters)

8:18 AM

SGX Nifty Update

>> At 8:15 am, the index was at 14,781.5 levels, up 54.5 points

8:15 AM

US stocks end higher

Wall Street rallied on Tuesday on renewed hopes for US President Joe Biden’ proposed $1.9 trillion Covid-19 aid bill as the Senate voted to start a process that would allow Democrats to pass Biden’s package without Republican support. The Dow Jones rose 1.57 per cent, the S&P 500 gained 1.39 per cent and the Nasdaq added 1.56 per cent.

8:14 AM

Asian market check

Asian markets moved higher during Wednesday's early trading. Japan’s Nikkei rose 0.6 per cent in early trade and Australian S&P/ASX 200 index added 1.15 per cent. Meanwhile, Hong Kong’s Hang Seng lost half a per cent.

8:08 AM

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