MARKET WRAP: Sensex halts 4-day gaining streak, slips 164 pts; realty falls
All that happened in markets today
 "Markets")
Markets
9:01 AM
Rupee opening
Rupee opens weaker at 71.26/$ vs Thursday's close of 71.19 against the US dollar
8:57 AM
Sebi issues guidelines for alternative investment funds benchmarking
The guidelines come two months after a consultation paper to this effect was floated by the regulator. “As the industry needs flexibility to showcase its performance based on different criteria, benchmarking performance will help investors in assessing the performance of the AIF industry,” the regulator said in a note put out on Thursday. READ MORE
8:52 AM
Stocks to watch
Emami: Kolkata-based diversified conglomerate Emami Group announced on Thursday that it had entered into a binding agreement with Nuvoco Vistas Corp, part of the Nirma group, for divesting its 100 per cent equity stake in Emami Cement for an enterprise value of Rs 5,500 crore.
Lakshmi Vilas Bank (LVB): Capital-starved private sector lender Lakshmi Vilas Bank (LVB) may soon have a suitor willing to pump money into it. According to sources, top executives at the Chennai-based bank submitted a list of potential investors to the Reserve Bank of India (RBI) on Wednesday. READ MORE
8:46 AM
Coronavirus outbreak to hit India's cumin, sesame, groundnut oil exports
According to traders and exporters, China accounts for 20 per cent to 30 per cent of India’s export of some key commodities. Each of these could fall by 10-15 per cent if the current situation prevails.
Chinese markets typically remain closed in January for Chinese Lunar New Year holidays. This year, however, markets are yet to reopen amid precautionary measures in in view of the outbreak of coronavirus from Wuhan. READ MORE
8:43 AM
This decade-old Sebi guideline is holding up much-awaited SBI Cards IPO
A regulatory guideline introduced more than a decade ago has resulted in an inadvertent delay in one of the most eagerly awaited public share sales. The Securities and Exchange Board of India (Sebi) has held back from giving its observations on the draft prospectus of SBI Cards and Payment Services, the credit card arm of State Bank of India (SBI). READ MORE
8:29 AM
Market Outlook :: Deepak Jasani, Head - retail research, HDFC Securities
Outlook: Indian markets could open flat to negative despite mildly positive US markets on Thursday and largely negative Asian markets today.
Tech view: The underlying trend of Nifty continues to be positive. Today's formation of high wave type candle pattern at the resistance could indicate an absence of sharp upside momentum at the highs. This pattern could be considered as an early signal of pause in the recent uptrend. Any weakness below the immediate support of 12,080 levels could trigger short term downward correction in the market. Intraday resistance is placed at 12,180.
Tech view: The underlying trend of Nifty continues to be positive. Today's formation of high wave type candle pattern at the resistance could indicate an absence of sharp upside momentum at the highs. This pattern could be considered as an early signal of pause in the recent uptrend. Any weakness below the immediate support of 12,080 levels could trigger short term downward correction in the market. Intraday resistance is placed at 12,180.
Stocks in focus: Among stocks under coverage, Alkyl Amines, Bharti Airtel, SBI, JSW Steel, GAIL, ICICI Bank, Axis Bank, KEC Int could do well.
8:26 AM
Bull Spread Strategy for ICICI Bank by Nandish Shah of HDFC Securities
Bull Spread strategy on ICICI BANK
Buy ICICI BANK February 550 Call at Rs 7.90 & simultaneously sell 570 call at Rs 2.90
Lot Size: 1375
Cost of the strategy Rs 5 (Rs 6875 per strategy)
8:25 AM
Top trading ideas by Prabhudas Lilladher: Buy Godrej Inds, Praj Industries
BUY GODREJ INDS | CMP: Rs 425.45 | TARGET: Rs 458 | STOP LOSS: Rs 400
The stock has almost made a double bottom formation pattern on the daily chart near 398 levels to maintain a good support base and has pulled back strongly to imply strength with the potential to rise further in the coming days. The RSI also recovered decently from the highly oversold zone and indicated a trend reversal to signal a buy. The volume participation is quite decent and with the chart looking promising, we suggest to buy and accumulate this stock for an upside target of Rs 458 keeping the stop loss near Rs 400. READ MORE
8:21 AM
FII/FPI & DII trading activity on NSE, BSE and MSEI
8:20 AM
Rupee Check
Source: Bloomberg
8:19 AM
Oil Check
>> At 8:17 am, Brent Crude Futures was at $54.93 per barrel, down 0.6 per cent.
>> WTI Crude was at $51,14 per barrel, up 0.4 per cent.
>> WTI Crude was at $51,14 per barrel, up 0.4 per cent.
8:14 AM
SGX Nifty
>> At 8:13 am, the Singaporean Exchange for Nifty Futures was at 12,128.5, down 1 point or 0.01 per cent.
8:12 AM
Asian Market Check
Source: Reuters
Topics : Markets MARKET WRAP
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First Published: Feb 07 2020 | 7:47 AM IST
