markets

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		Bulls continued to be in the driver&#39;s seat on Wednesday amid buying in index heavyweights such as Reliance Industries (RIL), IndusInd Bank, Sun Pharma, L&T, and HDFC Bank.</div>
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		The S&P BSE Sensex climbed 182 points or 0.45 per cent to settle at 40,652 with Sun Pharma (up around 6 per cent) being the top gainer. During the day, the index hit a fresh lifetime high of 40,816.38 levels; however, the index cooled off later. On the NSE, the broader Nifty50 index ended at 11,999, up 59 points or 0.49 per cent.&nbsp;</div>
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		In the broader market, the S&P BSE MidCap index gained over 37 points or 0.25 per cent to end at 14,868 and the S&P BSE SmallCap closed at 13,414.43 levels, up 10 points or 0.07 per cent.</div>
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		Sectorally, pharma stocks gained the most on the NSE, followed by media counters. The Nifty Pharma index surged over 3 per cent to 8,108 levels. The Nifty Media index, too, rallied over 3 per cent to 1,863 levels.&nbsp;</div>
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		<strong>BUZZING STOCKS</strong></div>
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		Continuing its upswing, Reliance Industries (RIL) on Wednesday hit a fresh lifetime high of Rs 1,571 apiece on the BSE, up 4 per cent, thus nearing Rs 10 trillion market capitalisation (m-cap). On Tuesday, RIL became the first Indian company to cross the m-cap of Rs 9.50 trillion. The stock ended at Rs 1,547, up nearly 2.50 per cent.</div>
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		Shares of public sector banks (PSBs) traded higher for the fourth straight day, after the Supreme Court&#39;s decision on Essar Steel resolution came in favor of the financial creditors.</div>
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		Shares of select public sector undertaking (PSUs) rallied up to 20 per cent on the BSE after the Government gave &lsquo;in-principle&rsquo; approval for strategic disinvestment of 28 Central Public Sector Enterprises (CPSEs) with sale of majority stake of Government of India and transfer of management control. The list included names such as Hindustan Petroleum Corporation (HPCL) and Dredging Corporation of India. <a href="https://www.business-standard.com/article/markets/select-psus-rally-on-in-principle-nod-for-strategic-disinvestment-119112000797_1.html?1574244283" target="_blank"><strong>READ MORE</strong></a><br />
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		<strong>GLOBAL MARKETS&nbsp;</strong></div>
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		Asian shares slipped on Wednesday as investors rushed to safe-haven assets after Sino-US trade talks produced nothing encouraging, while concerns about a supply glut left oil prices nursing their biggest one-day loss in seven weeks.<br />
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		The mood in share markets was sombre with MSCI&#39;s broadest index of Asia-Pacific shares outside Japan off 0.7 per cent. Japan&#39;s Nikkei fell 0.8 per cent and Shanghai blue chips 0.5 per cent.</div>
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		E-Mini futures for the S&P 500 shed 0.2 per cent and EUROSTOXX 50 futures 0.2 per cent.</div>
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		In commodities, oil prices slipped for a third day on supply and trade war fears.&nbsp;</div>
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		<strong><em>(With inputs from Reuters)</em></strong></div>
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MARKET WRAP: Sensex ends 182 pts higher; RIL up 2.5%, Sun Pharma climbs 6%

Business Standard

MARKET WRAP: Sensex ends 182 pts higher; RIL up 2.5%, Sun Pharma climbs 6% | News on Markets - Business Standard

BROKERAGE RADAR ::  Anand Rathi Shares and Stock Brokers on Page Industries

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	We initiate coverage on Page Industries with a Buy rating and a TP of Rs 27,288, based on 50x FY22e EPS of `546. We believe that the company will be faced with short-term issues due to weakness in the trade channel because of poor liquidity, the general consumption slowdown and keener competition with newer brands. We are, however, confident of its long-term growth prospects.</div>

BROKERAGE RADAR ::  Anand Rathi Shares and Stock Brokers on Ashoka Buildcon

On the stronger-than-expected margins and shift to the new tax regime, our FY20e PAT has been raised ~64% (and ~33% for FY21) due to the low base (owing to losses in the SPVs). On the revised estimates, the stock (excl. investments) trades at PER of 7x FY20e and 6x FY21e, against a TP-implied exit multiple of 12x FY21e. Risk. Slow pace of project execution.

Weekly stock picks by Religare Broking: Buy HPCL, Power Finance Corporation

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	<strong>Buy Hindustan Petroleum Corporation Limited</strong></div>
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	Last Close: Rs 290.20</div>
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	Initiation range: Rs 288-290</div>
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	Target: Rs 305</div>
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	Stop loss: Rs 282</div>
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	HINDPETRO has been witnessing profit taking for the last three weeks after retesting the resistance zone around 325 levels. It&rsquo;s currently hovering above the support zone of 100 EMA on the daily chart and is forming a fresh buying pivot. Indications from the energy index are also favorable. We thus advise accumulating fresh longs in the mentioned zone. <a href="https://orgbs.business-standard.com/article/markets/weekly-stock-picks-by-religare-broking-buy-hpcl-power-finance-corporation-119112000123_1.html" target="_blank"><strong>READ MORE</strong></a></div>

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

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-- A far larger than expected rise in crude stocks led to decline in prices. Brent crude futures stood at $60.91 a barrel early on Wednesday, after sliding 2.6 per cent overnight.&nbsp;

At 7:35 AM, SGX Nifty, the Singaporean Exchange for Nifty Futures was down 25.5 points, or 0.21 per cent, at 11,956 level.

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MARKET WRAP: Sensex ends 182 pts higher; RIL up 2.5%, Sun Pharma climbs 6%

All that happened in markets today.

BROKERAGE RADAR :: Anand Rathi Shares and Stock Brokers on Page Industries

BROKERAGE RADAR :: Anand Rathi Shares and Stock Brokers on Ashoka Buildcon

Weekly stock picks by Religare Broking: Buy HPCL, Power Finance Corporation

Bulk deals on BSE as on Tuesday

Bulk deals on NSE as on Tuesday

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

Rupee Check

Oil Check

SGX Nifty

Asian Market Check

US Market Check