Sensex ends marginally lower, Nifty holds above 10,400; Nifty Pharma up 3%

All that happened in today's trade

9:24 AM

Bharti Airtel extends gains

9:21 AM

Sectoral Trend

Source: NSE

9:19 AM

Top Sensex gainers and losers

Source: BSE

9:17 AM

Markets open

Benchmark indices open flat after hitting new highs in Wednesday's trade as the investors stay on edge awaiting the formal nomination of the next head of the central bank.

At 9:17 am, the S&P BSE Sensex was trading at 33,621, up 21 points while the broader Nifty50 was ruling at 10,442, up 2 points

 

9:07 AM

Nifty view by Prabhudas Lilladher

 

Nifty has nearly marched towards our projected target of 10,500 with a high made at 10,451; the support for the day is seen at 10,390 while resistance is seen at 10,480. Bank Nifty would have a range of 25,270-25,680.

9:05 AM

Trading ideas from Prabhudas Lilladher

 

BUY LAKSHMI VILAS BANK   

CMP: Rs 156.05       

TARGET: Rs 170      

STOP LOSS: Rs 145

 

BUY BALRAMPUR CHINI     

CMP: Rs 174.60      

TARGET: Rs 192     

STOP LOSS: Rs 164

 

BUY TECH MAHINDRA      

CMP: Rs 488.50      

TARGET: Rs 525     

STOP LOSS: Rs 472

9:01 AM

Top technical recos for today's trade by Tradebulls

 

BUY: RCF

CMP: Rs 97.30

Stop Loss: Rs 93.80

Target: Rs 108

 

SELL: BAJAJ AUTO FUT.

CMP: Rs 3274

Stop Loss: Rs 3370

Target: Rs 3052

Click here for rationale

8:58 AM

Nifty Outlook by Sacchitanand Uttekar of Tradebulls Securities:

 

Proximity towards the upper end of the weekly ‘Megaphone’ formation and the recent series of ‘Breakaway & Run-Away’ gaps at key junctures highlights the recent upmove as a final leg towards the Climax point. Therefore, traders should maintain longs with strict stop below 10,390 (Closing Basis) & review the formation near 10,540 (upper end of the ongoing Megaphone pattern). It is likely that the ‘Exhaustion Gap’ could be just around the corner & serve as a STOP for the upmove which commenced from the recent low of 9,687.55.

8:55 AM

India's per capita income growth lower than China, Bhutan

 

India has reason to be envious of two of its neighbours, Bhutan and China.  The country’s 30-notch jump in the World Bank’s ease of doing business ranking to 100th place is clouded by the better performance of Bhutan (75th rank) and China (78th rank).

India is behind its neighbours on macroeconomic indicators such as per capita income growth and efficiency of capital. Its per capita income growth (in dollar terms) is now the second lowest in the region. 

8:54 AM

51 companies on BSE to report September quarter results today

 

As many as 51 companies on BSE are likely to report September quarter results including Vedanta, Power Grid Corporation of India, Glenmark Pharmaceuticals, Ujjivan Financial Services, HEG, Orient Cement, D-Link (India), Sundram Fasteners, Deepak Fertilizers, JSW Holdings, Berger Paints, etc among others.

8:54 AM

New India Assurance IPO oversubscribed

 

The initial public offer (IPO) of New India Assurance Company was oversubscribed 1.03 times so far on the first day of the three-day bidding on Wednesday. The IPO, which aims to raise Rs 9,600 crore, received bids for 12,30,62,976 shares against the total issue size of 12,00,00,000 shares.

8:53 AM

India at 8th spot in m-cap rankings

 

India has pipped Canada to become the world’s eighth largest stock market by capitalisation.  This year’s 47% surge in market capitalisation has helped India seal its position in the $2-trillion club. It has also climbed two positions in the coveted league table. 

 

At $2.26 trillion, the Indian stock market is now bigger than those of Canada and Switzerland. It is 5.3% and 12% behind Germany and France, respectively. READ MORE

8:51 AM

Mahindra Logistics IPO subscribed 1.32 times

 

The Rs 830-crore initial public offering (IPO) of Mahindra Logistics, an arm of Mahindra & Mahindra (M&M), garnered a subscription of 1.32 times on Wednesday, a day before its close. 

 

The institutional portion of the IPO was subscribed 76 per cent, while that of non-institutional investor was subscribed 10 per cent. The small investor portion was subscribed 2.2 times. 

8:50 AM

FM to oversee consolidation of PSU banks

 

Proposals from state-owned lenders for in-principle approval to formulate schemes of amalgamation will be placed before the Alternative Mechanism (AM) for consolidation of the banks and the AM panel will be headed by Finance Minister Arun Jaitley

8:50 AM

Bitcoin hits new all-time high of $6,450

 

Bitcoin climbed to a new all-time high of $6,450 on Wednesday, boosted by bets the cryptocurrency could enter the financial mainstream after the world’s largest derivatives exchange operator said on Tuesday it would launch bitcoin futures.