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

All that happened in the markets today.

8:51 AM

US Commodity Futures Trading Commission likely to okay NSE for derivatives

The National Stock Exchange (NSE) is close to receiving US regulator Commodity Futures Trading Commission's (CFTC's) approval that will enable a class of hedge funds deal on its derivatives platform.

 

Sources privy to the development said the exchange has already completed the formalities pertaining to the process and is expecting a 'no-action' letter from CFTC in the next few weeks. READ MORE

8:44 AM

Today's Picks: From Tech Mahindra to Tata Motors hot stocks to watch

Tech Mahindra
Current price: Rs 631
Target price: Rs 640
Keep a stop at Rs 625 and go long.

 

Add to the position between Rs 637 and Rs 639. Book profits at Rs 640.

CLICK HERE TO READ MORE

8:40 AM

RBI to infuse Rs 1 trn into banking system via special auctions in March

The Reserve Bank of India (RBI) will infuse up to Rs 1 trillion into the banking system through special auctions this month to manage additional demand for liquidity as activities of banks and corporate entities pick pace before the close of the financial year. READ MORE

8:38 AM

Oil gains 

Oil prices extended gains on Tuesday for the fifth straight day, underpinned by robust demand forecasts and prospects for informal contacts sought by OPEC with US shale oil producers at a key industry meeting in Houston this week.

 

International benchmark Brent crude futures LCOc1 climbed to $65.73 per barrel, up 19 cents, or 0.29 per cent.

 

USWest Texas Intermediate (WTI) crude futures CLc1 advanced to $62.74 a barrel, up 17 cents, or 0.27 per cent.

8:37 AM

Top stocks to watch for the day

BUY BAJAJ ELECTRICALS
CMP: Rs 546.55
TARGET: Rs 600

STOP LOSS: Rs 515

 

The stock has been consolidating for quite some time at around 510 levels and now it has indicated a breakout above that range to signify strength and a positive bias has been maintained.

 

The RSI is on the rise so also is the MACD to provide more support to our view of a buy. The stock is anticipated to rise further and can scale upto 600 levels in the coming days. With the volume activity consistent and improving, we recommend a buy in this stock for an upside target of 600 keeping a stop loss of 515.

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8:35 AM

Markets on Monday

 

S&P BSE Sensex	33,746.78		-0.88%
Nifty 50	10,358.85		-0.95%
S&P BSE 200	4,527.12		-0.98%
Nifty 500	9,136.10		-0.97%
S&P BSE Mid-Cap	16,304.42		-0.95%
S&P BSE Small-Cap	17,888.24		-1.09%

8:32 AM

Nifty outlook by Prabhudas Lilladher for the day

Nifty tanked during the last session and indicating some support at the 10,324 levels and we maintain that the level of 10,280 would be crucial which if broken can test the 10,120 mark in the coming days which is also where the 200 DMA lies. The support for the day is seen at 10,300 while the resistance is seen at 10,400. With some pullback recovery anticipated, we advise to maintain a cautious view.

8:29 AM

Wall Street

The Dow Jones Industrial Average rose 336.7 points, or 1.37%, to 24,874.76, the S&P 500 gained 29.69 points, or 1.10%, to 2,720.94 and the Nasdaq Composite added 72.84 points, or 1%, to 7,330.71.

8:26 AM

SGX Nifty

The SGX Nifty was at 10,392 levels, up 0.31% from the previous close.

8:23 AM

Good morning!

Welcome to Business Standard's live blog on markets. Have a nice day!