Friday, December 20, 2024 | 06:14 PM ISTEN Hindi

Nifty ends above 10,250, up 1.4% for the week; Sensex ends 301 pts higher

All that happened in the market today

SI Reporter New Delhi

Bonds, Stock markets, Shares, Trading

9:05 AM

Key trading ideas by Prabhudas Lilladher:

BUY ASIAN PAINTS

CMP: Rs 1,144.40

TARGET: Rs 1,245

STOP LOSS: Rs 1,100

The stock has given a decent correction from the peak of 1,200 levels and now has bottomed out at 1,099 and produced a positive bullish candle pattern in the daily chart to signify potential and strength to rise further in the coming days. The RSI has hit the oversold area and has indicated a steep rise with a trend reversal thus signaling a buy in this stock. The volume activity has been tremendous in the recent times and thus we recommend a buy in this stock for an upside target of 1,245 keeping a stop loss of 1,100.

Click here for more

9:02 AM

INDEX WATCH: PRE-OPEN

Index	Current	Pt. Change	% Change

S&P BSE SENSEX	32,983.68	+34.47	+0.10

S&P BSE SENSEX 50	10,625.03	+14.56	+0.14

S&P BSE SENSEX Next 50	35,444.43	+81.47	+0.23

S&P BSE 100	10,661.99	+15.69	+0.15

S&P BSE Bharat 22 Index	3,688.93	+14.35	+0.39

(SOURCE: BSE)

9:00 AM

Nifty outlook by Prabhudas Lilladher

Nifty for now has made a U-turn getting its daily trend turned up after 6 days; however Nifty needs to cross 10,200 levels for further target of 10,280-10,350. The support for the day is seen at 10,120 while resistance is seen at 10,220. This still continues to be a bounce back rally till we see some confirmation above 10,350.

9:00 AM

ANALYSIS Near-term headwinds for PI Industries

PI Industries gained about 17 per cent over the last month on positive growth commentary from the management and brokerage upgrades. Some analysts have revised their estimates for FY19 as they expect growth to be driven by new product launches, higher growth from its foray into the pharma space, and recovery in the custom synthesis space

CLICK HERE FOR MORE

8:59 AM

ANALYSIS Hero MotoCorp: Re-rating hinges on scooter, premium bike growth

The Hero MotoCorp stock has underperformed peers TVS Motor and Bajaj Auto in recent months on the back of muted September quarter numbers, lower presence in higher growth areas and margin pressures. Brokerages have been highlighting three areas --- scooters, premium motorcycles and exports -- where it is falling short of its smaller peers

CLICK HERE FOR THE FULL STORY

Pawan Munjal, the CEO and MD of Hero MotoCorp, is firming up plans to launch more premium bikes

8:56 AM

Sebi proposes to allow MFs and portfolio managers in commodity derivatives

The Securities and Exchange Board of India (Sebi) proposes to permit mutual funds (MFs) and portfolio managers (PMs) to participate in exchange-traded commodity derivatives.

On Thursday, it issued a consultation paper on this, seeking reactions by the end of this month — on allowing them, how and a possible regulatory framework.

This is the market regulator's second move to allow institutional participants in commodity derivatives. Earlier, it had decided to allow category-III alternative investment funds or hedge funds. Allowing MFs and PMs would be a second move in the direction of broadbasing the commodity derivative segment, to improve liquidity and permit institutional players. READ MORE

8:56 AM

RECALL ALERT: LUPIN

Lupin is recalling 1,11,648 units of Duloxetine delayed-release capsules USP, in the strength of 30 mg, on account of failed dissolution specification, the United States Food and Drug Administration (USFDA) said in its latest Enforcement Report. The ongoing voluntary nationwide recall is a class III recall, it said. A class II recall is initiated in a "situation in which use of or exposure to a violative product may cause temporary or medically reversible adverse health consequences or where the probability of serious adverse health consequences is remote

8:55 AM

NEWS YOU CAN USE

Mahindra & Mahindra the only carmaker that sells electric cars in India said that it will have three new offerings in the space by FY2020 which will be the high performance ones. The company also believes that by 2020 battery costs will substantially come down, making it possible to offer electric cars at a cheaper price

8:54 AM

IPO WATCH:

Indian hospital operator Shalby Ltd's initial public offering to raise Rs 510 crore($79 million) was subscribed 2.8 times on the last day of the sale on Thursday

The initial public offer of Future Supply Chain Solutions, the logistics arm of the Future Group, was subscribed 72 per cent at the end of the second day of bidding

8:53 AM

CHRIS WOOD OF CLSA ON BITCOINS

The commencement of Bitcoin futures trading next week represents the cryptocurrency phenomenon entering the formal financial world. It means that Bitcoins can be bought with leverage, which is both a positive and a negative since it means that any future collapse in prices could cause collateral damage in the financial system. It also means that Bitcoin can be sold short and hedged.

CLSA Managing Director & Equity Strategist Christopher Wood

8:52 AM

Bitcoin tops record $19,000, then plunges

Bitcoin rocketed above $19,000 for the first time on Thursday before falling sharply from its record high. In trading on the Coinbase exchange, the digital currency hit a high of %19,340 before falling more than 20%from that level to $15,198.63. It was currently trading above $17,000.

8:51 AM

EMKAY GLOBAL ON GUJARAT POLL OUTCOME AND IMPACT ON MARKETS

Emkay Research commissioned a digital survey across Gujarat’s prominent cities to gauge the electorate sentiment ahead of the state election, with a special focus on the impact of GST dislocations and demonetization. The sample was restricted to urban electorate, who have access to digital media, which may have been influenced by the high-decibel digital campaign run by the key political parties

Outcome of the survey strengthens our hypothesis, which foresaw increasing leaning of political expediency determining economic policies, viz. doubling of farm income, job creation, boosting of disposable income in the hands of households etc. specifically seen as an aftermath to the above scenario to enhance its efforts to improve success rating for the 2019 general election. We remain tilted towards Consumption, Rural and Agri theme and expect a bigger push in the next two Union Budgets.

8:49 AM

Foreign brokerages expect bull run to continue in 2018

Foreign brokerages forecast the benchmark Nifty to deliver returns of more than 15 per cent by December 2018. Equity strategists are basing their expectation on strong corporate earnings recovery, supportive global economic growth, and gradual improvement in business sentiment

CLICK HERE FOR THE FULL STORY