MARKET WRAP: Indices end flat, Nifty settles at 10,890; PSU banks gain

Among the sectoral indices, Nifty PSU Bank index rose 0.6 per cent led by gains in the stock prices of Punjab National Bank (PNB), Union Bank of India and Indian Bank.

9:24 AM

Zee Entertainment gains over 3% in early trade post Q3 result

9:20 AM

Sectoral trend on NSE

9:19 AM

Opening gainers and losers on S&P BSE Sensex

9:16 AM

Market at open

 

At 9:15 AM, the S&P BSE Sensex was trading at 36,384, up 65 points, while the broader Nifty50 was ruling at 10,906, up 19 points.

 

9:05 AM

DHFL, ZEE Entertainment and Mindtree among top stocks to watch

Ace investor Rakesh Jhunjhunwala has reduced his stake in DHFL by 0.73 per cent to 2.46 per cent. Jhunjhunwala sold 22.7 lakh shares aggregating to Rs 51cr as per current market price from the last quarter ending September 2018.

 

ZEE Entertainment: Media firm Zee Entertainment Enterprises (ZEEL) Tuesday reported a 50.56 per cent increase in consolidated net profit to Rs 562.76 crore for the third quarter ended December 31, 2018, driven by good performance of broadcast business. Read more

 

9:02 AM

Market at pre-open

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	36,430.10	+111.77	+0.31
S&P BSE SENSEX 50	11,418.56	+30.65	+0.27
S&P BSE SENSEX Next 50	32,782.63	+41.78	+0.13
S&P BSE 100	11,193.83	+27.86	+0.25
S&P BSE Bharat 22 Index	3,475.46	+13.75	+0.40

9:01 AM

Rupee opening

 

Rupee opens at 71.06/$ vs its previous close of 71.05 against the US dollar.

8:55 AM

Buy Torrent Power for a target of Rs 298, SL at Rs 250: HDFC Securities

CMP- Rs 269.25

 

The stock price has been moving in a sideways consolidation movement in the last few weeks. Currently making an attempt to stage upside breakout of Rs. 270-272 levels in Tuesday’s session. Hence a further up move from here could be a sharp upside for the near term. Daily RSI is also showing positive indication. One may look to buy Torrent Power Ltd at CMP (Rs 269.25), add more on dips down to Rs. 257, hold for the upside target of Rs 298 over the next 3-4 weeks. Place a stop loss at Rs 250. READ MORE

8:51 AM

Top trading ideas by Prabhudas Lilladher for today

BUY KPIT TECH

CMP: Rs 211.85

TARGET: Rs 234

STOP LOSS: Rs 200

 

The stock has been maintaining good support at 202 levels and has indicated a bounce back with a positive bullish candle formation pattern in the daily chart and has signified strength and has potential to rise further in the coming days. The indicators like RSI has shown a trend reversal and has signaled a buy. With good volume participation witnessed and the chart looking attractive, we recommend a buy in this stock for an upside target of 234 keeping a stop loss of 200. READ MORE

8:45 AM

Nifty outlook by Prabhudas Lilladher:

Nifty truly in a yo-yo now once again in positive territory with its daily trend turning up, also out-performing Bank Nifty. Nifty with a close above 10850 has indicated a breakout above the previous trendline resistance and now builds the potential of an up move towards the 10930 levels. However, the support for the day is seen at 36030/10820 while the resistance is seen at 36600/10950 levels. BankNifty would have a range of 27100-27700.

8:40 AM

May's Brexit deal rejected by UK Parliament, leaving Britain in limbo

British parliament on Wednesday rejected Prime Minister Theresa May's Brexit deal agreed with the European Union (EU). With just over two months to go until the scheduled Brexit date of March 29, this leaves Britain in limbo and the world on tenterhooks about what will happen next. MPs from all parties had opposed the agreement for different reasons, according to agency reports. Click here to read more

Britain's Prime Minister Theresa May addresses the media outside 10 Downing Street after it was announced that the Conservative Party will hold a vote of no confidence in her leadership, in London | Photo: Reuters

8:36 AM

Rupee check

 

The Indian rupee Tuesday plunged by another 13 paise to close at one-month low of 71.05 against the US dollar amid strengthening greenback and surging crude oil prices.

8:33 AM

Oil check

 

US oil prices inched lower on Wednesday after gains of more 3 per cent in the previous session, pressured by concerns over the outlook for the global economy.

 

US West Texas Intermediate (WTI) crude futures were at $51.82 per barrel, down 29 cents, or 0.5 per cent, from their last settlement. International Brent crude oil futures had yet to trade.

8:31 AM

SGX Nifty

 

Nifty futures on Singapore Exchange (SGX) were trading at 10,932, down 11 points or 0.10 per cent in early trade.

 

8:25 AM

Asian market check

Asian shares took a breather on Wednesday after rallying the previous day on Chinese stimulus hopes, with investors assessing Brexit options after British lawmakers trounced Prime Minister Theresa May’s deal to pull out Britain from the European Union.

Japan's Nikkei 225 fell about 0.7 per cent in early trade while the Topix index slipped 0.52 per cent. In South Korea, the Kospi traded near flat at about 0.09 per cent. In Australia, the benchmark ASX 200 trimmed fractional gains to trade flat after the first hour of trade.