MARKET WRAP: Sensex rises 97 pts, Nifty settles at 10,348 as banks rally

Among sectoral indices, the Nifty Bank index settled 0.7 per cent higher led by a rise in YES Bank and State Bank of India (SBI).

9:30 AM

Stick to defensives: Investors should hunt for large-cap funds, say experts

 

It has been a harsh month for stock market investors. With the S&P BSE Sensex shedding over 4,000 points or 11 per cent since hitting the all-time high of 38,896 points in August, and the rupee hitting 74/$, investors would be worried if they were staring at a 2008-like situation. Deven Choksey, MD, K R Choksey, says: “After the mid-cap carnage last fortnight, now the fall has started in large-cap stocks. Read More

9:21 AM

Nifty Bank trades flat. YES Bank gains nearly 4%

9:19 AM

Sectoral trend on NSE

9:17 AM

BSE Sensex opening gainers and losers

9:16 AM

Market at open

 

At 9:15 AM, the S&P BSE Sensex was trading at 34,264, down 113 points while the broader Nifty50 was ruling at 10,278, down 38 points.

9:02 AM

Market at pre-open

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	34,486.85	+109.86	+0.32
S&P BSE SENSEX 50	10,826.37	+27.45	+0.25
S&P BSE SENSEX Next 50	30,118.47	+25.34	+0.08
S&P BSE 100	10,562.63	+24.14	+0.23
S&P BSE Bharat 22 Index	3,265.72	+18.32	+0.56

(Source: BSE)

9:01 AM

Rupee Alert

Rupee opens largely flat at 73.79 against the US dollar

8:55 AM

Commodity picks: October 7, 2018

Chana

 

Chana prices at Bikaner are trading at Rs 4,220 per quintal and for the week ahead prices are expected to head towards Rs4,300 a quintal. Low availability in open market, upcoming festive demand for dal and besan would keep demand firm from millers. READ MORE

8:50 AM

Nifty outlook by Devang Shah

 

Short-term outlook for the market remains negative till Nifty trades below 11,603 levels and expecting targets in the range of 9,950-10,000 levels in short term. Medium term outlook for the market remains positive till Nifty trades above 9,951 levels and expecting targets in the range of 12,500-12,800 levels in medium term. READ MORE

8:45 AM

RBI keeps policy rates unchanged, shifts stance to 'calibrated tightening'

 

The Reserve Bank of India (RBI) on Friday surprised the markets by keeping the policy rates unchanged even as it shifted its stance to “calibrated tightening”. The central bank indicated it was in no mood to stop the rupee slide in order to improve the country’s export competitiveness. Read More

8:40 AM

Rupee slumps to all-time low of 73.76 as RBI holds rate

 

The rupee slidded by 18 paise to finish at a fresh lifetime low of 73.76 against the US dollar on October 5 after the RBI unexpectedly kept the policy rate unchanged. The domestic unit crashed below the 74-mark for the first time ever in intra-day trade on persistent capital outflows and high crude oil prices.

 

It recovered to a high of 73.42, but failed to sustain the momentum and plunged to 74.23 after RBI's policy announcement. It finally closed at 73.76, down by 18 paise or 0.24 per cent, marking its fourth straight session of decline.

8:35 AM

Oil Check
 

Brent crude oil prices fell by more than 1 per cent on Monday after Washington said it may grant waivers to sanctions against Iran’s oil exports next month, and as Saudi Arabia was said to be replacing any potential shortfall from Iran.

 

International benchmark Brent crude oil futures were at $83.25 per barrel, down 91 cents, or 1.1 per cent, from their last close. US West Texas Intermediate (WTI) crude futures were down 57 cents, or 0.8 per cent, at $73.77 a barrel.

8:30 AM

SGX Nifty

 

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 17.5 points or 0.17 per cent. Nifty futures were trading around 10,282-level on the Singaporean Exchange.

8:25 AM

Asia Check

 

Shares in Asia stumbled in early trade on Monday as investors waited with bated breath as China’s markets prepare to reopen following a week-long holiday and after its central bank cut banks’ reserve requirements in a bid to support growth.

 

MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.3 per cent, after major stock markets around the world fell for a second straight day on Friday. Australian shares were down 1 per cent. Markets in Japan are closed for a holiday.

8:20 AM

Wall Street falls as solid jobs report boosts bond yields

 

US stocks dropped for a second straight day on Friday, weighed down by another rise in Treasury yields in the wake of a solid jobs report that capped off a week of robust data.
 

The Dow Jones Industrial Average fell 180.43 points, or 0.68 per cent, to 26,447.05, the S&P 500 lost 16.04 points, or 0.55 per cent, to 2,885.57 and the Nasdaq Composite dropped 91.06 points, or 1.16 per cent, to 7,788.45.