Sensex pares early gains to end 430 pts lower; Nifty PSU Bank index dips 3%

All that happened in the markets today.

9:28 AM

BSE Smallcap: PG Electroplast, Kirloskar Ferrous Industries among top gainers, Gitanjali top loser

9:23 AM

BSE Midcap: Vakrangee, Jindal Steel, SAIL among top gainers

9:22 AM

Metal stocks rebound (Image source: NSE)

9:21 AM

Technical view on the Nifty

Technically, Nifty is taking a strong support at 10320-10270 levels. Any closing below the same may drag the Nifty towards 10200/10100. On the flip side, resistance lies at 10420/10500 range

(Source: Nirmal Bang)

9:20 AM

Sectoral Trend

9:18 AM

Sensex Heatmap

9:17 AM

Stocks in News

The Indian Energy Exchange is looking at launching a spot gas exchange for trading of natural gas produced by marginal fields.

Fortis Health: Singh family control drops to 0.14%

HDFC Bank hikes bulk deposits rates upto 175bps

Arvind plans apparel parks, textile unit in AP

DLF, HDIL - Land prices rise by 40% along proposed Delhi-Jaipur expressway

Ramco Cements to acquire clinker grinding unit from Ramco Industries for Rs 17 crore.

Somany Ceramics board approved plan to merge three units of promoter group with itself.

Sun Pharma details of the 3 observations have come out. The observations looks not serious. The plant should get clearance in due course


(Source: Nirmal Bang)

9:16 AM

Market at open

At 9:17 am, the S&P BSE Sensex was trading at 33,947, up 200 points while the broader Nifty50 index was ruling at 10,416, up 60 points

9:03 AM

Markets at pre-open

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	33,961.07	+214.29	+0.63
S&P BSE SENSEX 50	10,877.68	+61.60	+0.57
S&P BSE SENSEX Next 50	33,362.50	+94.61	+0.28
S&P BSE 100	10,770.04	+56.27	+0.53
S&P BSE Bharat 22 Index	3,559.87	+15.24	+0.43

(Source: BSE)

9:00 AM

Indian Energy Exchange to launch spot gas exchange for marginal fields

The Indian Energy Exchange (IEX), the country’s largest power trading platform, is looking at launching a spot gas exchange for trading of natural gas produced by marginal fields. READ MORE

8:58 AM

Bonanza Portfolio on Berger Paints

With second largest company in decorative paint segment, favourable Indian demographics and government’s initiatives, capacity expansion plans, focus shifted to premium products and foray into the home decor business, we value Berger Paints at 47.00x FY19E EPS of Rs.6.50 to arrive at target price of Rs.304.00, an upside of ~22%

8:57 AM

MARKET COMMENT: Phillip Capital

A recent statement by BoJ governor, Kuroda, that monetary policy tightening may happen in FY19 if inflation stays at 2%, has rattled the financial and currency markets. We believe that it is still a while away, as inflation may not touch 2% by FY19, wage growth is muted, and the new deputy governors will mostly be doves supporting easy policy to revive growth. While liquidity tightening is likely to persist/accelerate, rate hike is unlikely until 2020

8:56 AM

MARKET COMMENT: G. Chokkalingam, founder and managing director, Equinomics Research

The government gave its in-principle approval to sell 26% stake sale in BEML. The government holds 54.03% stake in the firm. BEML is a major defence and rail products manufacturer. Looking at the government’s move to divest stake from a company with such strategic importance, we firmly believe that the government may eventually divest its indirect stake in Balmer Lawrie Company as the company is focused mainly on commercial ventures without any strategic importance to the country’s defence

8:54 AM

Nomura on Coal India

On our FY19F adjusted earnings (adding back OB removal provisioning to EPS and EBITDA), the stock trades at 10.9x P/E (EPS: Rs 27.2) and 6.4x EV/EBITDA (11.5x P/E and 6.6x EV/EBITDA on reported earnings); on our FY18F dividend of Rs 18/share, the stock offers a yield of 7.3%.Maintain Neutral

8:54 AM

Tata stocks may take a beating over Donald Trump's protectionism talk

The Tata group could be affected the most among Indian business houses in the eventuality of a trade war between the US and the European Union (EU).
 

The group, through companies such as Tata Steel, Tata Motors, Tata Chemicals and Tata Global Beverages, has manufacturing operations on both sides of the Atlantic Ocean. Any trade war and reciprocal tariffs on each others’ exports will hit revenue and profitability for the group plants in the US and the EU. READ MORE