MARKET WRAP: Sensex ends 391 pts higher led by financials, IMD forecast

Among sectoral indices, the Nifty Bank index rose 1.24 per cent led by a rise in the shares of Axis Bank, YES Bank and Punjab National Bank.

9:18 AM

BSE Sensex heatmap

9:16 AM

Market at open

 

At 9:15 AM, the S&P BSE Sensex was trading at 37,374, up 209 points while the broader Nifty50 was ruling at 11,305, up 60 points.

9:02 AM

Markets at pre-open

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	37,349.71	+184.55	+0.50
S&P BSE SENSEX 50	11,772.03	-98.16	-0.83
S&P BSE SENSEX Next 50	33,598.59	-134.34	-0.40
S&P BSE 100	11,529.01	-88.68	-0.76
S&P BSE Bharat 22 Index	3,531.87	+3.23	+0.09

9:00 AM

Derivatives strategy on by HDFC Securities:

 

Buy Manappuram Finance August 110

 

Call at Rs 5.50

Stop loss of Rs 3

Target at Rs 10

 

Rationale: We have seen Long positions being built in Manappuram Finance futures’ during the August series till now where we have seen 11% Rise in Open Interest with Price rise of 6%. 

Stock price has given breakout on the daily chart yesterday by closing above the previous resistance of 108 levels with higher volumes

8:55 AM

Trading ideas by Prabhudas Lilladher:

 

BUY LUPIN

CMP: Rs 864.85

TARGET: Rs 940

STOP LOSS: Rs 810

 

The stock has formed a higher bottom formation at around 790 levels and has given a decent bounce to move past the significant 200 DMA and 50 DMA moving averages and has indicated strength and potential to rise further in the coming days. The chart looks attractive and is poised for an upward move with the indicators like MACD showing a trend reversal to signal a buy and the RSI on the rise. With good volume participation witnessed, we recommend a buy in this stock for an upside target of 940 keeping a stop loss of 810. 
   
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8:50 AM

Nifty outlook by Prabhudas Lilladher

 

The benchmark indices as we had mentioned being in an overbought zone, the market is witnessing profit booking. The near-term support of Nifty lies at 11,220-11,200, a decisive break of which would bring in a further correction to an extent. Support for the day is seen at 11,180 while resistance is seen at 311300. We suggest going light on trading positions as a word of caution. Pharma sector shows good up move hence we have a bullish bias on Sun Pharma, Auro Pharma, Lupin, etc.

8:45 AM

Top trading ideas by Anand Rathi Research

 

MAX INDIA: BUY

TARGET: Rs 92.50

STOP LOSS: 82.50

 

The stock has started to form higher tops and higher bottoms with a buy crossover in its momentum indicator MACD. The stock has formed an impulsive pattern post which it corrected in a three wave declining structure and now next impulse seems to have started. 

 

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8:40 AM

Oil edges lower as supply concerns return

 

Oil prices edged lower on Friday after strong gains the previous day, easing on persistent supply concerns as Russia increased production in July and Saudi Arabia cut the price of crude for its Asian customers.

 

Brent crude futures were down 13 cents, or 0.2 percent at $73.32 a barrel, after rising 1.5 per cent on Thursday. US crude was off by 5 cents at $68.91, after gaining nearly 2 per cent in the previous session.

8:35 AM

Apple hits $1 tn stock market valuation

 

Apple Inc became the first $1 trillion publicly listed US company on Thursday, crowning a decade-long rise fueled by its ubiquitous iPhone that transformed it from a niche player in personal computers into a global powerhouse spanning entertainment and communications.

 

The tech company's stock jumped 2.8 per cent to as high as $207.05, bringing its gain to about 9 per cent since Tuesday when it reported June-quarter results above expectations and said it bought back $20 billion of its own shares.

8:30 AM

SGX Nifty

 

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 44.5 points or 0.39 per cent. Nifty futures were trading around 11,322-level on the Singaporean Exchange.

8:25 AM

Asia stocks restrained, dollar at 2-week high as trade war saps confidence

 

Asian stocks were steady on Friday, with gains from the tech-led rise on Wall Street capped by the latest exchange of trade threats between Beijing and Washington, while safehaven flows lifted the dollar to a two-week high.

 

MSCI’s broadest index of Asia-Pacific shares outside Japan inched down 0.03 per cent. Japan's Nikkei added 0.25 per cent and South Korea's KOSPI edged up 0.32 per cent, drawing some support from overnight gains by US stocks.

8:20 AM

S&P 500, Nasdaq rise as Apple hits $1 tn mark

 

Technology stocks pushed the S&P 500 and Nasdaq higher on Thursday, driven by Apple shares as the iPhone maker became the first publicly traded US company worth a trillion dollars.

 

The Dow Jones Industrial Average fell 7.66 points, or 0.03 per cent, to 25,326.16, the S&P 500 gained 13.86 points, or 0.49 per cent, to 2,827.22 and the Nasdaq Composite added 95.40 points, or 1.24 per cent, to 7,802.69.

8:16 AM

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