MARKETS ON WEDNESDAY: Sensex ends 352 pts lower as trade war fears escalate
All that happened in the markets on Wednesday
9:18 AM
Market at open
At 9:17 AM, the S&P BSE Sensex was trading at 33,389, up 18 points while the broader Nifty50 was ruling at 10,252, up 7 points.
9:03 AM
Markets at pre-open
(Source: BSE)
Index | Current | Pt. Change | % Change |
S&P BSE SENSEX | 33,406.19 | +35.56 | +0.11 |
S&P BSE SENSEX 50 | 10,725.38 | +9.88 | +0.09 |
S&P BSE SENSEX Next 50 | 33,810.99 | +27.85 | +0.08 |
S&P BSE 100 | 10,665.12 | +9.66 | +0.09 |
S&P BSE Bharat 22 Index | 3,501.48 | +5.88 | +0.17 |
(Source: BSE)
8:55 AM
Keep a stop at Rs 370 and go short. Add to the position between Rs 362 and Rs 363. Book profits at Rs 361. READ MORE
Today's picks: From Adani Ports to Wipro, stocks to watch on Wednesday
Adani Ports
Current price: Rs 367
Target price: Rs 361
Keep a stop at Rs 370 and go short. Add to the position between Rs 362 and Rs 363. Book profits at Rs 361. READ MORE
8:55 AM
MARKET COMMENT
The market is likely to trade on a cautious note today on the back of mixed global cues. Asian stocks traded mixed on Wednesday trade as the overnight bounce on Wall Street stalled. Recent concerns over trade tensions also persisted amid new China-U.S. trade developments. U.S. stocks closed higher Tuesday, following a volatile session that saw major indexes fluctuate widely as investors digested a sharp move lower in the previous session and gauged the likelihood of both trade risk and further weakness in technology names.
(Source: SMC Global)
(Source: SMC Global)
8:54 AM
(Source: IIFL)
Corporate News
· JSW Steel buys 26% stake in Numetal’s India arm to facilitate Essar Steel bid
· Akzo Nobel to consider share buyback on April 6
· Jubilant Foodworks says that it passed on full benefit of GST rate cut
· Zensar Technologies wins multi-year contract with city of San Diego
· AU Small Finance in pact with Future Generali India to act as corporate agent for life insurance business
· Bigbloc Construction to issue 8 lakh convertible warrants to promoters
· Tayo Rolls to issue 2 lakh preferential shares to promoter Tata Steel
· Ferro Alloys says lenders’ panel have rejected the debt resolution plans and decided to liquidate firm
· Infibeam enters into agreement with TV18 for advertising products, services and brands
· Income Tax department issues notice to Deepak Kochhar, husband of ICICI Bank chief Chanda Kochhar, in connection with the Videocon bank loan
· Jaguar Land Rover India lines up 10 new products for FY19
· Reliance Jio Payments Bank commences operations
(Source: IIFL)
8:52 AM
By closing above 10,208, Nifty has confirmed higher top and higher bottom formation for the first time in the recent correction from 11,171 to 9,951. Nifty has also formed small inverse head and shoulder pattern on the short term chart, indicting the target of 10,500. Nifty has managed to surpass the crucial resistance of 20 DMA, placed at 10,220. Support is now shifted upward to 10,090 from earlier level of 9,950. READ MORE
Nifty Outlook and top trading ideas by HDFC Securities
By closing above 10,208, Nifty has confirmed higher top and higher bottom formation for the first time in the recent correction from 11,171 to 9,951. Nifty has also formed small inverse head and shoulder pattern on the short term chart, indicting the target of 10,500. Nifty has managed to surpass the crucial resistance of 20 DMA, placed at 10,220. Support is now shifted upward to 10,090 from earlier level of 9,950. READ MORE
8:50 AM
Top trading ideas by Prabhudas Lilladher: Buy JSPL, Century Textiles
BUY JINDAL STEEL & POWER
CMP: Rs 229.40
TARGET: Rs 265
STOP LOSS: Rs 215
The stock has been consolidating for quite some time at around 220-225 levels and has currently is indicating a positive bias with the RSI on the rise reversing from the oversold zone. The MACD also has shown a trend reversal to improve the sentiment and with consistent volume activity seen, we recommend a buy in this stock for an upside target of 265 keeping a stop loss of 215. READ MORE
8:48 AM
SGX Nifty
The SGX Nifty was at 10,285.50, up 0.09 per cent from the previous close.
The SGX Nifty was at 10,285.50, up 0.09 per cent from the previous close.
8:47 AM
Asian Markets
Asian shares were largely trading flat on Wednesday as investors took a cautious stance following the latest developments in US-China trade tensions. Japan's Nikkei slipped 0.1 per cent and the broader Topix edged down by 0.13 per cent.
Elsewhere, South Korea's benchmark Kospi index shed 0.31 per cent, weighed down by declines in the technology sector as index bellwether Samsung Electronics lost 0.96 per cent.
8:45 AM
Wall Street
The three major US stock indexes ended higher after a choppy session on Tuesday as investors looked forward to earnings season while the S&P 500 pushed above a key support level and Amazon.com shares jumped on bets that criticism from President Donald Trump would not translate to policy changes.
The Dow Jones Industrial Average rose 389.17 points, or 1.65 per cent, to 24,033.36, the S&P 500 gained 32.57 points, or 1.26 per cent, to 2,614.45 and the Nasdaq Composite added 71.16 points, or 1.04 per cent, to 6,941.28.
The three major US stock indexes ended higher after a choppy session on Tuesday as investors looked forward to earnings season while the S&P 500 pushed above a key support level and Amazon.com shares jumped on bets that criticism from President Donald Trump would not translate to policy changes.
The Dow Jones Industrial Average rose 389.17 points, or 1.65 per cent, to 24,033.36, the S&P 500 gained 32.57 points, or 1.26 per cent, to 2,614.45 and the Nasdaq Composite added 71.16 points, or 1.04 per cent, to 6,941.28.
8:42 AM
Good Morning!
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Welcome to Business Standard's live blog on markets.
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First Published: Apr 04 2018 | 3:30 PM IST