Markets extend gains for 4th day; Sensex up 118 pts, Nifty ends at 10,326

All that happened in Tuesday's trade

9:20 AM

Top Sensex gainers and losers

Source: BSE

9:18 AM

Broader Markets

The broader markets were trading a bit higher than benchmark indices with BSE Midcap and BSE Smallcap indices up 0.4% and 0.5% 

9:17 AM

Markets Open

Benchmark indices open on a positive note following Asian stocks, which edged higher on Tuesday as investors took heart from further evidence of strength in the global economy. 

At 9:17 am, the S&P BSE Sensex ws trading at 33,467, up 107 points while the broader Nifty50 index was ruling at 10,328, up 29 points

9:12 AM

Today's picks: November 21, 2017

 

Ambuja Cements

Current price: Rs 265 

Target price: Rs 270 

Keep a stop at Rs 262 and go long. Add to the position between Rs 268 and Rs 269. Book profits at Rs 270.  

 

Coal India  

Current price: Rs 278

Target price: Rs 273

Keep a stop at Rs 281 and go short. Add to the position between Rs 274 and Rs 275. Book profits at Rs 273.

 

NTPC  

Current price: Rs 180 

Target price: Rs 184

Keep a stop at Rs 178 and go long. Add to the position between Rs 182 and Rs 183. Book profits at Rs 184.

9:07 AM

Short term trend may be down; Nifty support around 10,125

 

The market rebounded from near 10,100 on last Wednesday and it has since tested upside resistance at 10,325. However, there are still net losses in the November settlement.

 

The near-term signals are hard to decipher.  After hitting a high of 10,490 on November 6, the market has reacted to a recent low of 10,094 on November 15. Weak macro-economic data and average second quarter (Q2) results were balanced by the sentimental driver of the Moody’s upgrade. READ MORE

9:00 AM

Few trading ideas by Prabhudas Lilladher:

 

BUY BPCL   

CMP: Rs 504.45        

TARGET: Rs 545       

STOP LOSS: Rs 488

 

BUY INDIABULLS REAL ESTATE    

CMP: Rs 233.05       

TARGET: Rs 255      

STOP LOSS: Rs 220

 

BUY GAIL    

CMP: Rs 460.35      

TARGET: Rs 495      

STOP LOSS: Rs 443

Click here for rationale

8:53 AM

Nifty outlook by Prabhudas Lilladher:

 

Nifty has given sideways move; a confirmation comes only with a cross of 10,350-10,380 levels for a strong uptrend. The support for the day is seen at 10,250, while resistance is seen at 10,340.

8:48 AM

Reliance Industries, Adani, REC issue $1.7-billion bonds

 

Reliance Industries, Adani Abbot Point Terminal, and Rural Electrification Corporation (REC) on Monday launched bond issues overseas worth $1.7 billion in order to reduce their finance costs. 
 

The bond issues follow last week’s upgrade by Moody’s of India’s sovereign rating from the lowest investment grade Baa3 to a notch higher at Baa2. The agency has also upgraded the ratings of several public sector companies such as State Bank of India, Indian Oil Corporation, Oil and Natural Gas Corporation, and NTPC. READ MORE

8:45 AM

Centre gets Rs 14,500 crore from Bharat-22 ETF, issue subscribed 4 times

 

The government’s Bharat-22 exchange traded fund (ETF) has garnered Rs 14,500 crore, officials said on Monday. 

 

With this, the Centre’s disinvestment proceeds for 2017-18 has reached Rs 52,500 crore, higher than the 2016-17 revised estimate of Rs 45,500 crore, and Rs 20,000 crore short of this year’s budgeted estimate of Rs 72,500 crore. Four more months are still left for the financial year to end.

 

The new fund offer of (NFO) of Bharat ETF was subscribed four times and saw demand worth nearly Rs 32,500 crore. READ MORE

8:38 AM

Notice sent to 100 cos on post GST tweak 

 

Keeping up the pressure on the consumer goods sector, the Central Board of Excise and Customs (CBEC) chairman has written to the biggest companies to ensure that cuts in the goods and services tax (GST) are passed on to customers. 

 

The GST Council has cut rates on 178 products including chocolates, detergent, toothpaste, shampoo, air freshener and shaving cream to 18% from 28% and the government is keen that this translates into lower prices for buyers. 

8:37 AM

Mutual Funds log Rs 51K-cr inflow in Oct

 

Investors have pumped over Rs 51,000 into various mutual fund schemes in October after pulling out more than Rs 16,000 crore in the preceding month, latest data with industry body Amfi showed.

 

With the latest inflow, total infusion in MF schemes reached to over Rs 2.5 lakh crore in the first seven months (April—October) of the current fiscal, Association of Mutual Funds in India noted.

8:36 AM

SGX Nifty

 

The Nifty50 futures on the Singapore Stock Exchange were trading 14.5 points higher at 10,329 indicating a positive opening for the domestic market.

8:36 AM

Asian Check

Asian stocks edged higher on Tuesday as investors took heart from further evidence of strength in the global economy, while the dollar hovered near a one-week high against its peers thanks to higher US yields and a floundering euro.

 

Gains on Wall Street overnight also helped MSCI’s broadest index of Asia-Pacific shares outside Japan rise 0.5% and back towards a decade-high struck earlier this month.

 

South Korea’s KOSPI rose 0.3%, Australian stocks climbed 0.2% and Japan’s Nikkei advanced 1.1%. Shanghai added 0.2% and Hong Kong’s Hang Seng was 0.7% higher.

8:35 AM

US markets end higher 

 

US stocks rose in overnigh trade, with Verizon boosting the telecoms sector after the stock got an upgrade, while a deal in semiconductors lifted high-performing tech shares.

 

The Dow Jones Industrial Average rose 72.09 points, or 0.31%, to 23,430.33, the S&P 500 gained 3.29 points, or 0.13%, to 2,582.14 and the Nasdaq Composite added 7.92 points, or 0.12%, to 6,790.71.

8:34 AM

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