MARKET WRAP: Sensex gains 93 pts, Nifty ends at 11,472; ONGC surges 3%

All that happened in markets today.

9:03 AM

Market at Pre-open

9:03 AM

Market at Pre-open

9:02 AM

Rupee Opening Alert

Rupee opens at 71.59 vs Tuesday's close of Rs 71.54

8:59 AM

NEWS ALERT | Reliance Nippon's promoter releases pledge on 7.1 lakh shares: BSE filing

8:58 AM

FMCG slowdown gets worse in Q2 as consumer sentiment remains tepid

India’s fast-moving consumer goods (FMCG) market slowed to a five-quarter low in the July-September (Q2) period as consumer sentiment remained tepid. The Nielsen data quoted by industry executives indicates that value and volume growth in Q2 have come down to levels of 5 per cent and 3 per cent, respectively, as against a moving annual total (MAT) of 9 per cent and 7 per cent for the market. READ MORE

8:54 AM

Stocks to watch: BPCL, Wipro, Mindtree, Inox Wind, Karnataka Bk, ACC, ONGC

Here's a list of stocks that are likely to trade actively in today's session -

 

BPCL: Saudi Aramco may be in the fray to buy out government’s stake of Bharat Petroleum Co. ltd, said a report by The Economic Times.

 

Wipro: For Q2, Wipro posted a 35.1 per cent rise in its net profit at Rs 2,552 crore. In sequential term, net profit grew 6.2 per cent. During the quarter, consolidated revenues of the Bengaluru-headquartered firm rose 4 per cent on year-on-year (YoY) basis at Rs 15,125 crore. In dollar terms, gross revenues of the company were at $2.1 billion. READ MORE

8:53 AM

NEWS ALERT | Sun Pharma launches Drizalma Sprinkle in the US for oral use: BSE filing

--  Drizalma Sprinkle is a serotonin and norepinephrine reuptake inhibitor (SNRI) designed for the treatment of various neuro-psychiatric and pain disorders in patients who have difficulty swallowing

8:52 AM

Market Ahead, October 16: All you need to know before the Opening Bell

Markets are likely to trade in the positive territory on Wednesday as trends on SGX Nifty suggest a gap-up opening for the domestic indices.

 

As per technical evidence, the Nifty index is now placed above its 20, 50, 100 and 200 DMAs, which indicates an upper hand for the bulls.

 

Corporate earnings for the September quarter will be the key factor driving the markets today. About 11 companies, including Mindtree, are scheduled to declare their Q2 earnings later in the day. LISTEN TO PRE-MARKET PODCAST HERE

8:50 AM

NEWS ALERT | Inox Wind signs additional deal with Adani Green for SECI 50 MW capacity: BSE filing

-- Signs additional deal with Adani Green for a project that is part of the capacity won under SECI bids for wind projects

-- Co signs a deal for sale of a 50 MW wind power project at Dayapar, Kutch in the state of Gujarat in which Adani will be the strategic investor

-- Project comprises of 25 Nos. of its latest 2 MW Wind Turbines

8:47 AM

NEWS ALERT | AB Pandey on GST on ATF and Income-tax slab rejig

-- GST on ATF was deferred by the Council earlier; May discuss again if fresh proposal is made

-- Any discussion on change in income-tax slab is taken up during Budget

-- Change in corporation tax rate was an exception

-- Report by Task Force on Direct Tax Simplification is under consideration

8:43 AM

NEWS ALERT | Not fair to say that GST is responsible for current economic slowdown: Ajay Bhushan Pandey, Revenue Secy

-- Not fair to judge economic slowdown by GST collections of two months

-- Formed a Committee of Officers to have holistic view on GST rates

-- Will discuss how to meet states' compensation requirement

-- In the past two months, cements, auto, steel didnt perform well. 

(As reported by CNBC TV18)

8:39 AM

Regulators working on tighter norms for promoter pledged share funds

Promoters’ pledge of their shareholding to raise funds is set to come under closer regulatory scrutiny, and a review of guidelines in this matter is in the offing owing to risks arising from excessive leverage and the linkages between financial intermediaries.

 

The Reserve Bank of India (RBI), Securities and Exchange Board of India (Sebi), Insurance Regulatory and Development Authority of India, and Pension Fund Regulatory and Development Authority are expected to work closely to review the regulatory framework of the subject. READ MORE

8:35 AM

Options trading gathers steam in Q2; share of cash in average volumes falls

The share of cash volumes in the overall trading mix has taken a knock in the first two quarters of the current financial year, squeezing margins of retail brokers. The share of cash in average daily trading volumes has declined to 2.5 per cent in the second quarter of FY20. This number was 2.9 per cent for Q1Y20. READ MORE

8:30 AM

Q2 preview: Refining margins may pump up Reliance Industries earnings

With an improvement in refining margins, Reliance Industries (RIL) is expected to report a strong quarter for the July-September period. Analysts expect refining to offset weakness in petrochemicals (petchem) and a lower tax rate benefit for the retail and telecom businesses.

 

RIL will report its financial performance for the September 2019 quarter on Friday. READ MORE

8:27 AM

Technical recommendations by HDFC Securities: Buy Kansai Nerolac, Escorts

Nifty heading for 11496 and 11622 Targets

 

Nifty has broken out from the downward sloping trend line, adjoining 23rd Sep and 1st Oct 2019 highs. The index is now placed above its 20, 50, 100 and 200 DMAs, indicating a bullish trend. On the upside, we see targets of 11,496 and 11,622 in Nifty. Longs should be protected with the stop loss of 11,200. READ RECOMMENDATIONS HERE