Sensex ends 193 pts higher, Nifty regains 10250 ahead of Gujarat exit polls

All that happened in today's trade

9:18 AM

Markets open

Benchmark indices open marginally higher after the Federal Reserve delivered a much-anticipated interest rate hike but flagged caution about inflation, tempering expectations for future tightening, which weighed on the dollar and Treasury yields.

At 9:17 am, the S&P BSE Sensex was trading at 33,128, up 75 points while the broader Nifty50 index was trading at 10,212, up 19 points

9:08 AM

Top trading ideas by Sacchitanand Uttekar, AVP – Technical (Equity), Tradebulls:

 

DLF - SELL

CMP: Rs 228

STOP LOSS: Rs 237.30

TARGET: Rs 210

 

TATA MOTORS - SELL

CMP: Rs 402

STOP LOSS: Rs 412.30

TARGET: Rs 380

Click here for rationale

 

9:05 AM

Nifty outlook by Sacchitanand Uttekar, AVP – Technical (Equity), Tradebulls:

 

On the 180 min scale as expected the index faced resistance near the upper bound of the ‘Descending /Declining Channel’. The three days sequence of higher tops & higher bottom has been distorted. Traders should maintain shorts with a stop above 10340 with an expectation of a decline towards 10000-9940. With the rising volatility and the latest upward shift in the range of India VIX sustenance above 15.50 level could propel it towards 17.50 in no time.

Due to its high correlation with the Index coupled with Rising crude prices & weakness in rupee could be fatal for the markets from hereon. Investors should adequately hedge their positions during this highly uncertain time & await for a meaningful correction /decline to phase out first & only position themselves once a firm reversal sign is established to add longs. 

8:57 AM

Top trading ideas by Prabhudas Lilladher:

 

BUY AMBUJA CEMENTS      

CMP: Rs 264.10        

TARGET: Rs 286     

STOP LOSS: Rs 255

 

The stock has more or less made a lower bottom formation pattern in the daily chart and has taken support at the significant 200 DMA level. The stock has regained from thereon and also indicating a positive bias for further rise in the coming days. With favourable factors supporting our view of a bullish run and good volume participation, we recommend a buy in this stock for an upside target of 286 keeping a stop loss of 255.

 

Click here for more

 

8:54 AM

Nifty outlook by Prabhudas Lilladher

 

Nifty confirms a lower top formation indicating a downward move unless it decisively moves past 10,330 levels for next round of rally. For now the slide can approach 10,090 levels. The support for the day is seen at 10,140 while resistance is seen at 10,250. Volatility index continues to rise.

8:48 AM

NSE to auction investment limits for Rs 7,300-cr corp bonds

 

Leading bourse National Stock Exchange (NSE) will auction investment limits for overseas investors for purchase of corporate bonds worth over Rs 7,300 crore on Thursday.

 

The auction will be conducted on NSE's e-bid platform from 1530 hrs to 1730 hrs after the close of market hours, the exchange said in a circular.

 

The auction quota gives overseas investors the right to invest in debt up to the stipulated limit. READ MORE

A man walks past the NSE building in Mumbai | Photo: Reuters

8:43 AM

Fed raises interest rates by 25 bps as US economy rolls on

 

The Federal Reserve raised interest rates by a quarter of a percentage point on Wednesday, as anticipated, but left its rate outlook for the coming years unchanged even as policymakers projected a short-term acceleration in US economic growth.

 

The move, coming at the final policy meeting of 2017 and on the heels of a flurry of relatively bullish economic data, represented a victory for a central bank that has vowed to continue a gradual tightening of monetary policy.

 

Having raised its benchmark overnight lending rate three times this year, the Fed projected three more hikes in each of 2018 and 2019 before a long-run level of 2.8 per cent is reached. That is unchanged from the last round of forecasts in September. READ MORE

8:42 AM

SGX Nifty

 

The Nifty50 futures on the Singapore Stock Exchange were trading 16 points higher at 10306 indicating a positive opening for the domestic market.

8:42 AM

Asian stocks edged higher

Asian stocks edged higher on Thursday after the Federal Reserve delivered a much-anticipated interest rate hike but flagged caution about inflation, tempering expectations for future tightening, which weighed on the dollar and Treasury yields.

 

The Fed’s less hawkish statements supported MSCI’s broadest index of Asia-Pacific shares outside Japan which rose 0.3%.

 

Australian stocks added 0.2% and South Korea's KOSPI climbed 0.55%. Japan's Nikkei inched up 0.1%.

8:38 AM

US markets end mixed led by Fed rate hike

 

The S&P 500 ended slightly lower on Wednesday pressured by the financial sector after the Federal Reserve announced a widely expected interest rate hike but kept its rate outlook for coming years even as it projected faster US economic growth.

 

The Dow Jones Industrial Average rose 80.63 points, or 0.33%, to end at 24,585.43, the S&P 500 lost 1.26 points, or 0.05%, to 2,662.85 and the Nasdaq Composite added 13.48 points, or 0.2%, to 6,875.80.

8:33 AM

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