MARKET WRAP: Nifty settles at fresh closing high of 11,389; PSU banks slip

Among sectoral indices, the Nifty PSU Bank index ended over 2 per cent lower due to a fall in share prices of Andhra Bank and Punjab National Bank (PNB).

9:21 AM

BSE Sensex heatmap

9:18 AM

Market at open

 

The S&P BSE Sensex opened at fresh record high of  37,849.21. At 9:16 AM, the index was trading at 37,778, up 86 points while the broader Nifty50 was ruling at 11,413, up 26 points.

9:04 AM

Markets at pre-open

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	37,776.65	+84.76	+0.22
S&P BSE SENSEX 50	11,942.17	+27.46	+0.23
S&P BSE SENSEX Next 50	33,986.63	+83.93	+0.25
S&P BSE 100	11,690.82	+27.35	+0.23
S&P BSE Bharat 22 Index	3,617.24	+7.68	+0.21

8:57 AM

Top trading ideas by Prabhudas Lilladher:

 

BUY GREENPLY INDUSTRIES

CMP: Rs 218.35

TARGET: Rs 248

STOP LOSS: Rs 203

 

The stock has witnessed a huge erosion from the high made at 378 levels and has currently shown signs of bottoming out at around 195 - 198 levels and indicating a bounce back to make the chart look very attractive. The RSI also has turned its trend from the highly oversold zone and has signaled a buy to make the bias positive and has got potential to rise further in the coming days. With good volume participation witnessed, we recommend a buy in this stock for an upside target of 248 keeping a stop loss of 203.

Click here for more

8:53 AM

Nifty outlook by Prabhudas Lilladher

 

Indices though in overbought zone continue to be in all-time high levels along with Bank Nifty. There is a possibility of market witnessing a sideways move to a consolidation at these levels with 11,200 as a strong support level. The support for the day is seen at 11,320 while resistance is seen at 11,440. If the benchmark index is to take a breather, we would see some movement in mid-cap stocks.

8:48 AM

Top trading ideas by Anand Rathi Research:

 

JSW ENERGY: BUY

TARGET: Rs 72

STOP LOSS: Rs 65.50

 

The stock has provided a clear breakout from the falling wedge pattern with a buy crossover in its momentum indicator MACD. The stock has also completed the retest of the pattern, hence the probability of an upside from here on is high. Click here for more

8:44 AM

Nifty outlook by Anand Rathi Research

 

NIFTY: BUY

TARGET: 11,460

STOP LOSS: 11,335

 

The Index has closed in the positive territory in the last trading session and with that the series of higher tops and higher bottoms continues. The momentum indicator is also well into buy mode both on the daily as well as hourly charts which is quite a positive sign, hence we continue to maintain our short term as well as medium term bias positive for the target of 11,460 with a reversal pegged below 11,335

8:40 AM

Today's picks

 

Tata Motors 

Current price: Rs 254 

Target price: Rs 250 

Keep a stop at Rs 257 and go short. Add to the position between Rs 250 and Rs 251. Book profits at Rs 249.

 

GAIL 

Current price: Rs 376

Target price: Rs 382

Keep a stop at Rs 373 and go long. Add to the position between Rs 380 and Rs 381. Book profits at Rs 382.

Click here for more

8:35 AM

Oil rises after OPEC sources say Saudi crude output fell

 

Oil futures gained on Monday after OPEC sources said Saudi crude production unexpectedly fell in July, raising concerns about global oil supplies as the United States prepares to reinstate sanctions against major exporter Iran.

 

Brent crude futures rose 54 cents to settle at $73.75 a barrel, while US West Texas Intermediate (WTI) crude futures rose 52 cents to settle at $69.01 a barrel.

8:30 AM

SGX Nifty

 

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 14.5 points or 0.13 per cent. Nifty futures were trading around 11,444-level on the Singaporean Exchange.

8:25 AM

Asian stocks flat

 

Asian stocks were largely steady on Tuesday, with worries over the US-China trade conflict offsetting support from earnings-led gains on Wall Street. MSCI’s broadest index of Asia-Pacific shares outside Japan was almost flat. Australian stocks dipped 0.2 per cent, South Korea's KOSPI rose 0.05 per cent and Japan's Nikkei added 0.25 per cent.

8:20 AM

Wall Street closes higher as strong earnings cheer investors

 

The three major US stock indexes closed higher on Monday as investors applauded a strong US earnings season with results from Berkshire Hathaway impressing and Facebook lifting Nasdaq after a report it was planning new services.

 

The Dow Jones Industrial Average rose 39.6 points, or 0.16 per cent, to 25,502.18, the S&P 500 gained 10.05 points, or 0.35 per cent, to 2,850.4 and the Nasdaq Composite added 47.66 points, or 0.61 per cent, to 7,859.68.

8:16 AM

Good Morning!

Welcome to market's live blog. Catch all the live market action here