Markets cheer Moody's upgrade; Sensex up 236 pts, Nifty ends above 10,200

All that happened in today's trade

9:17 AM

Markets open

Benchmark indices open higher after global rating company, Moody's Investors Service upgraded India’s sovereign rating to Baa2 from Baa3 and changed the outlook to stable from positive.

At 9:16 am, the S&P BSE Sensex was trading at 33,519, up 412 points while the broader Nifty50 index gained over 10,333 up 118 points

9:11 AM

Bond Alert

Bond open at 1-week low after Moody's upgrade. Rupee best gainer among Asian currencies against Dollar, opens 1% higher

9:08 AM

Derivative Strategy on Karnataka Bank by HDFC Securities:

 

Buy Karnataka Bank November 160 call at Rs 3.80

 

Stop loss: Rs 3

Target: Rs 6.50

Lot size:  3800

Click here for rationale

9:02 AM

Few trading ideas by Prabhudas Lilladher:

 

BUY DHFL 

CMP: Rs 623.50         

TARGET: Rs 685           

STOP LOSS: Rs 590

 

BUY HINDUSTAN ZINC    

CMP: Rs 301.80          

TARGET: Rs 328             

STOP LOSS: Rs 288

 

BUY THERMAX     

CMP: Rs 1030.75          

TARGET: Rs 1090             

STOP LOSS: Rs 985

Click here for rationale

8:58 AM

Nifty Outlook by Prabhudas Lilladher:

 

Nifty after correcting nearly by 50% of the recent swing has for now taken support at 10,100 levels. Market has witnessed a good bounce back rally from here, what now needs to be seen if Nifty manages to move past 10,350 levels decisively for this rally to continue. The support for the day is seen at 10,170 while resistance is seen at 10,260.

8:52 AM

Structural reforms could change the glide path: Arun Jaitley

 

Union Finance Minister Arun Jaitley has hinted that reform measures such as the introduction of the goods and services tax (GST) could possibly lead to a deviation from the fiscal road map.

 

“No pause but challenges arising from structural reforms (which) could change the glide path,” a research report from Morgan Stanley quoted the Finance Minister as saying at an event in Singapore. READ MORE

8:47 AM

India Inc raises Rs 1.4-lakh crore via equities in 2017

 

Fundraising through the equity route hit an all-time high, touching the Rs 1.4-lakh crore mark during the current calendar year (CY17). In all, companies raised a record Rs 1,40,073 crore in the ten-and-a-half months of CY17 (January – November 14, 2017) through various equity instruments. 

 

This includes initial public offerings (IPOs), follow-on offers (FPOs), offer for sale (OFS), rights issues, and institutional placement programmes (IPPs), including qualified institutional placements (QIP). READ MORE

8:43 AM

HDFC Standard Life to make stock market debut today

 

HDFC Standard Life Insurance Company, which has recently concluded its Rs 8,695-crore initial public offering, will make a debut on stock exchanges today.

 

The shares will be listed on the BSE and the NSE, the company said.

 

The IPO, which was open for subscription on November 7-9, was subscribed 4.89 times at a price band of Rs 275-290 per share. READ MORE

8:38 AM

RBI eases rules for short-selling in govt bonds

 

The Reserve Bank of India on Thursday eased the rules for short-selling in government bonds, allowing traders to deliver securities from their own portfolio against short sales in “exceptional situations” of market stress.

 

Until now, the central bank had not permitted government bond market traders to use securities from their own portfolios for delivery against a short sale, forcing them to borrow in the repo market.

8:36 AM

Moody's upgrades India's rating, changes outlook to stable 

Global rating company, Moody's Investors Service has upgraded India’s sovereign rating to Baa2 from Baa3 and changed the outlook to stable from positive.  The development that will give big boost to Modi government, reduce the cost overseas borrowing and improve investments in India, 

 

Rating company, while justifying the upgrade said that the reforms undertaken by the government will "improve the business climate, enhancing productivity, stimulating foreign and domestic investment, and ultimately fostering strong and sustainable growth." 

 

This year it expects real GDP growth to moderate to 6.7% in the fiscal year ending in March 2018. 

8:34 AM

SGX Nifty

 

The Nifty50 futures on the Singapore Stock Exchange were trading 82 points higher at 10,342 indicating a positive opening for the domestic market.

8:34 AM

Asian shares trade higher

Asian shares rose on Friday as strong US earnings and a step forward in the US Congress on tax reform brightened the mood, even though investors noted that many more hurdles must be passed to reach a final deal on tax cuts.

 

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.1% while Japan's Nikkei gained 0.9%, extending its recovery from a near three-week intraday low hit the previous day.

8:33 AM

US markets end higher

 

Wall Street’s main indexes rose sharply on Thursday boosted by earnings-related gains in Wal-Mart and Cisco.

 

The Dow Jones Industrial Average rose 187.08 points, or 0.8%, to 23,458.36, the S&P 500 gained 21.02 points, or 0.82%, to 2,585.64 and the Nasdaq Composite added 87.08 points, or 1.3%, to 6,793.29,

8:30 AM

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