Sensex ends 116 pts higher, Nifty settles above 10,150; Airtel up 5%

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9:30 AM

Infosys Q2 preview: What Dalal Street wishes to hear from Nandan Nilekani

 

Infosys, the country's second-largest software services firm, is scheduled to report its September quarter numbers on Tuesday post market hours. 

 

The quarter holds significance as this will be the first result announcement after co-founder Nandan Nilekani took charge as the company's new non-executive chairman after the sudden resignation of then CEO Vishal Sikka and the exit of four board members, including then chairman R Seshasayee. 

 

Analysts, at large, believe that more than the Q2 numbers, the management commentary will remain in focus as an update on the company's strategic preferences is crucial at this juncture. 

 

Click here to find what brokerages expect out of Infosys' September quarter numbers

9:26 AM

Nifty Bank snaps 3-day losing streak

Source: NSE

9:24 AM

Top Sensex gainers and losers

Source: BSE

9:22 AM

Markets at open

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	32,599.87	+209.91	+0.65
S&P BSE SENSEX 50	10,590.76	+56.53	+0.54
S&P BSE SENSEX Next 50	34,874.36	+125.65	+0.36
S&P BSE 100	10,605.96	+53.94	+0.51
S&P BSE MidCap	16,138.12	+61.70	+0.38

(Source: BSE)

9:20 AM

Broader Markets

In broader markets, BSE Midcap gained 0.2% while BSE Smallcap was trading higher by 0.3%

9:20 AM

Markets open

Benchmark indices open higher following positive cues from the global markets. F&O expiry and Infosys earnings will drive the market sentiment this week.

At 9:18 am, the S&P BSE Sensex was trading at 32,475, up 86 points while the broader Nifty50 index was ruling at 10,189, up 42 points.

9:06 AM

Technical calls from Prabhudas Lilladher

BUY IBREAL ESTATE     

CMP: Rs 215.55     

TARGET: Rs 250     

STOP LOSS: Rs 200

 

The stock has made a higher bottom formation like pattern in the daily chart and the stock looks attractive for an up move while maintaining a good support at around 208-210 levels. The stock has been gathering potential to rise further and we anticipate it reach to the previous level of 258 from here on. With good volume activity seen, we recommend a buy in this stock for an upside target of 250 keeping a stop loss of 200

9:00 AM

Market outlook for the day

 

The markets may see a green start on the back positive Asian cues. Asian stocks were mostly higher as the dollar spiked to more than three-month highs against the yen following a snap election in Japan on Sunday. U.S. stocks posted a sixth straight weekly gain on bets Donald Trump was closer to pulling off one of his biggest legislative priorities after the Senate approved a budget vehicle for tax cuts. 

 

Hindustan Zinc, Nocil, Indiabulls Housing Finance, Havells India, Automotive Stampings, Graphite India, Oriental Hotels, Graphite India, Tinplate Company Of India, Wendt and Zuari Agro to announce their results today. As per provisional figures, foreign institutional investors (FIIs)/ Foreign Portfolio Investors (FPIs) sold shares worth net Rs 43.74 crores on 19th October 2017. Domestic institutional investors bought shares worth Rs 40.78 crores on that day.

 

(Source: SMC Global)

8:58 AM

Top trading ideas for today's trade

 

BUY RECL     

CMP: Rs 159.55       

TARGET: Rs 176    

STOP LOSS: Rs 148

 

BUY BEL     

CMP: Rs 172.65     

TARGET: Rs 192      

STOP LOSS: Rs 164

Click here for rationale

8:55 AM

Nifty outlook by Prabhudas Lilladher

 

Nifty has the level of 10,250 as a strong hurdle to cross; market continues to move sideways with near term support at 10,140. Not much can be expected ahead of long weekend. The support for the day is seen at 10,160 while resistance is seen at 10,250.

8:53 AM

Equinomics view on the economy and markets

 

Global markets are at record highs. US market is on the forefront – gained over 28% yoy, maximum gains among major global markets. Last week, Indian market also moved close to Rs.140 lakh crore of overall market cap. We continue to maintain cautious stance on over-valued mid cap stocks. Next Diwali may not create the kind of wealth created by this Diwali. It may take more than two quarters for the corporate earnings to show strong double-digit profit growth. 

 

Recent recovery in oil and material prices would dampen the margins of many companies. Cumulatively IIP (Index of Industrial Production) still growing around 2% yoy. Slowly the liquidity would be tightened even in the hands of retail investors. Resources mobilized through IPOs hit a record high – fund rising through IPOs has crossed Rs.44,000 crore in 2017. Another Rs.21,000 crore is expected to be mobilized in the remaining months of 2017.

 

We remain positive on the long-term prospects of the economy and markets. We do not expect the benchmark indices like Sensex and NIFTY to correct badly – however, we believe that the kind of overvaluation enjoyed by almost 2/3rd of midcap stocks is unlikely to continue. Hence, we continue to advise investors to be cautious in stock selection.

8:52 AM

Mutual funds pump $12 bn into equities in first six months of FY18

 

Investment by mutual funds in domestic equities touched a staggering $12 billion in the April-September period on strong retail investor interest, even as foreign investors trimmed their exposure.

 

Moreover, fund houses are upbeat over-investment in the stock markets for the remainder of the current fiscal.

 

According to the latest data, fund managers bought shares worth a net Rs 76,906 crore ($12 billion) in the first half of the ongoing financial year, while foreign portfolio investor (FPIs) pumped in just Rs 5,278 crore ($810 million) in equities during the period.

8:51 AM

GLOBAL MARKETS: Japan shares at two-decade top, yen at three-month low on Abe win

 

Japanese shares jumped on a weaker yen on Monday as an election win for Shinzo Abe's ruling bloc gave a green light for more super-easy policy stimulus, while the euro eased as Spain's constitutional crisis aggravated concerns about political unity in the region. The U.S. dollar was the major beneficiary as President Donald Trump and Republicans took a small step toward tax cuts, boosting Wall Street stocks and lifting bond yields. Japan's Nikkei raced up 1 percent to its highest since 1996 after Prime Minister Abe looked to have easily won in national elections over the weekend. CLICK HERE FOR MORE

8:50 AM

Top 5 events that will set market tone in the October 23-29 trading week WATCH VIDEO HERE

8:49 AM

Oil prices rise on tightening supply, strong demand

 

Oil prices rose on Monday over supply concerns in the Middle East and as the U.S. market showed further signs of tightening while demand in Asia keeps rising.

 

Brent crude futures, the international benchmark for oil prices, were at $57.90, up 15 cents, or 0.26%, from their last close.

 

US West Texas Intermediate (WTI) crude futures were at $52.13 per barrel, up 29 cents, or 0.56%.