MARKET WRAP: Sensex gains 119 pts, Nifty ends at 10,617; YES Bank sinks 7%

The Nifty Financial Services index settled 1.1 per cent higher led by a rise in the shares of Max Financial Services, Power Finance Corporation and Mahindra & Mahindra Financial Services

10:01 AM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	35,158.56	+16.57	+0.05
S&P BSE SENSEX 50	11,060.28	+4.61	+0.04
S&P BSE SENSEX Next 50	31,987.20	-20.14	-0.06
S&P BSE 100	10,853.51	+2.82	+0.03
S&P BSE Bharat 22 Index	3,474.37	+5.95	+0.17

9:58 AM

YES Bank falls 7% as Ashok Chawla resigns as non-executive chairman

 

Shares of private sector lender YES Bank slipped as much as 6.67 per cent to Rs 207.65 apiece in the early morning trade on Thursday after Ashok Chawla, the bank's non-executive chairman, stepped down with immediate effect, following his name appearing in Aircel-Maxis controversy. Independent Director Vasant Gujarathi has also quit, citing personal commitments. Read more

 

9:49 AM

MSCI makes changes to India indices: BHEL out, Divi's Laboratories in

 

Global index provider MSCI has announced changes to the MSCI India index, a key benchmark for India-focused overseas funds. Effective November 30, Siemens India and Bharat Heavy Electricals (Bhel) will cease to be part of the index, while Divi’s Laboratories will be added, said the brokerages. Read more

9:33 AM

Oil prices, not 2019 election key risk for Indian market: CLSA's Chris Wood

 

Despite the headwinds in the form of oil prices, monetary tightening, state and general elections, Indian equities face over the next one year, CHRISTOPHER WOOD, managing director and equity strategist at CLSA tells Puneet Wadhwa at their 21st India Forum that he is not altering his allocation to Indian equities just yet.The Narendra Modi government, he says, is right in complaining about the RBI's tight monetary policy given the inflation data. Click here to read full interview

Christopher Wood, CLSA

9:29 AM

Yes Bank is down 4% after its non-executive chairman Ashok Chawla stepped down with immediate effect

9:26 AM

Vodafone Idea is trading lower post weak Q2 nos

9:20 AM

Sectoral trend on NSE

9:19 AM

Opening gainers and losers on BSE Sensex

9:17 AM

Market at open

 

At 9:15 AM, the S&P BSE Sensex was trading at 35,152, up 10 points while the broader Nifty50 was ruling at 10,578, up 1 point.

9:02 AM

Market at pre-open

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	35,100.52	-41.47	-0.12
S&P BSE SENSEX 50	11,058.23	+2.56	+0.02
S&P BSE SENSEX Next 50	32,041.29	+33.95	+0.11
S&P BSE 100	10,854.06	+3.37	+0.03
S&P BSE Bharat 22 Index	3,474.60	+6.18	+0.18

9:01 AM

Rupee opening

Rupee opens at nearly two-month high of 72.05/$ vs its close of 72.31 against US currency

8:55 AM

YES Bank, Jet Airways and Vodafone-Idea among top stocks to watch today

 

Two members of the board of directors at YES Bank have resigned with immediate effect — Ashok Chawla, its non-executive chairman, and Vasant Gujarati. Vodafone Idea on Wednesday reported a net loss of Rs 49.7 billion on a revenue of Rs 120.2 billion. Read more

8:53 AM

Trading ideas by Prabhudas Lilladher

 

BUY TATA SPONGE

CMP: Rs 816

TARGET: Rs 860

STOP LOSS: Rs 770

 

The stock has been consolidating at around 775 to 825 levels and currently has produced a positive bullish candle pattern in the daily chart to signify strength and potential for further upward movement with a positive bias. The RSI and also the MACD is on the rise and we anticipate the stock to perform in coming days. We recommend this stock to buy for an upside target of 860 keeping a stop loss of 770. Read more

8:50 AM

Today's picks

 

BPCL

Current price: Rs 316

Target price: Rs 322

 

Keep a stop at Rs 313 and go long. Add to the position between Rs 320 and Rs 321. Book profits at Rs 322.

 

Tech Mahindra

Current price: Rs 700

Target price: Rs 685

 

Keep a stop at Rs 705 and go short. Add to the position between Rs 688 and Rs 692. Book profits at Rs 685. Click here to read more

8:45 AM

Nifty outlook by Prabhudas Lilladher

 

The market continues to sustain well within the range, but for now, it is essential and crucial for Nifty to close decisively above the 10650 mark to have conviction and expect further up move in the coming days. Bank Nifty also showed some sort of resistance near 200 DMA at around 26050 levels. support of the day is seen is at 34970 / 10520 while resistance is seen at 35330 / 10640. Bank Nifty would have a range of 25700 – 26150. Click here to read more