Sensex slips 152 points, Nifty closes at 10,303; Bharti Airtel top loser

All that happened in today's trade

9:20 AM

Markets Open

Benchmark indices open flat on one year of demonetisation. At 9:17 am the S&P BSE Sensex was trading at 33,389 up 18 points while the broader Nifty50 index was ruling at 10,362, up 12 points

9:14 AM

Top stock recos by HDFC Securities

 

Buy KSB PUMPS

 

CMP: Rs 869

SL: Rs 835

Target: Rs 1035

 

Buy TORRENT POWER

 

CMP: Rs 274

SL: Rs 260

Target: Rs 310

Click Here for rationale

9:12 AM

Nifty Outlook by HDFC Securities

 

Nifty has recently found resistance around 10,490 and started correcting, closing below its 5-DMA support. Previous top on the daily chart is placed at 10,250-odd levels, which is likely to act as a strong support going forward. Recent High of 10,490 would remain resistance for the short term. So, we can expect this correction in Nifty to extend towards 10,200-10,250 in the coming days.

9:07 AM

Top trading ideas by Prabhudas Lilladher

 

BUY ITC   

CMP: Rs 265.30      

TARGET: Rs 285    

STOP LOSS: Rs 256

 

BUY INFOSYS     

CMP: Rs 955.50      

TARGET: Rs 1,020      

STOP LOSS: Rs 915

 

BUY FUTURE CONSUMER       

CMP: Rs 61.75       

TARGET: Rs 71     

STOP LOSS: Rs 56

Click here for rationale

9:03 AM

Nifty outlook by Prabhudas Lilladher

 

Nifty has failed to cross 10,500, however still a minor support of 10,330 is still a deciding factor for Nifty to continue it’s up move, and else we would see it to slide down to 10,280 levels. The support for the day is seen at 10,300 while resistance is seen at 10,400. The daily trend in Nifty, Sensex & Bank Nifty has turned down after 9 days.

9:00 AM

Bharat-22 ETF set to roll out on Nov 14

 

Bharat-22 Exchange Traded Fund (ETF) is expected to add close to Rs 10,000 crore to government’s disinvestment kitty. According to CNBC-TV18, the ETF’s first tranche is expected to be launched on November 14 which will invest in 22 stocks of which 19 will be public sector companies.

8:55 AM

Demonetisation is a watershed moment in Indian economic history: Jaitley

 

Finance Minister Arun Jaitley on Tuesday called demonetisation a “watershed moment in the history of Indian economy”. He quoted data extensively to make a case for the announcement by Prime Minister Narendra Modi’s announcement on November 8 last year to put 86 per cent of currency out of circulation.

 

In a blog and at a press conference later at the Bharatiya Janata Party (BJP) headquarters here, Jaitley said the note ban had achieved its objectives of reducing the cash component in the economy, widening the tax net, exposing unaccounted wealth and reducing anonymity of cash. READ MORE

8:52 AM

Crude oil price rise spells bad news for India

 

The global energy market is likely to see some volatility. The Kingdom of Saudi Arabia (KSA) is going through internal upheaval. Many members of the ruling clique have been arrested, including several royals.

 

 This purge is said to be part of a cleanup campaign by the ruler's son. Economic reform is on the agenda, including stake sales in oil assets. Figuring out KSA’s internal politics is much impossible for an outsider. There are thousands of royals and clerics of varying degrees of fundamentality, with varying influence. READ MORE

8:44 AM

Oil dips on profit taking but remains near two-year highs

 

Oil markets dipped on Wednesday as traders took profits after crude prices hit two-year highs, but markets remained well supported by expectations of strong Chinese demand and tightening supplies.

 

Traders said the market was eyeing growing tensions in the Middle East with concern, keeping a cautious tone on trade.

 

Brent futures LCOc1, the international benchmark for oil prices, were at $63.61 per barrel, down 8 cents, or 0.1%, but still close to a near two-and-a-half year high of $64.65 a barrel reached earlier this week.

8:43 AM

SGX Nifty

 

The Nifty50 futures on the Singapore Stock Exchange were trading 3 points higher at 10,414 indicating a flat opening for the domestic market.

8:42 AM

Asia stocks pause at peaks

 

Asian shares paused at decade peaks and the dollar dipped on Wednesday amid concerns Republican plans for major US tax cuts were running into headwinds even before the Senate releases its own version of the proposals.

 

MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.05% having hit its highest since November 2007 on Tuesday.

 

Japan's Nikkei fell 0.4%, though that followed a jump to its best close since 1992.

8:41 AM

Dow edges up to record high; S&P 500 slips
 

The Dow Jones Industrial Average eked out a fourth consecutive record high close on Tuesday, while the S&P 500 ended marginally lower after a disappointing profit forecast from Priceline and a drop in financials.

 

The Dow Jones Industrial Average ended up 0.04% at 23,557.23 after spending most of the day in negative territory. The S&P 500 dipped 0.02% to 2,590.64. The Nasdaq Composite slipped 0.27% to 6,767.7.