Sensex gains 77 points, Nifty ends above 10,000 on positive global cues

All that happened in Tuesday's trade

10:17 AM

Buzzing stock

 

Infosys was up 2.4% to Rs 945 on BSE in intra-day trade, extending its 3% gains of the past three trading sessions, after the company fixed November 1, 2017 as record date for share buyback. READ FULL REPORT

10:06 AM

Angel Broking on Dewan Housing Finance

 

Rating: Accumulate; Target price: Rs 610

 

With a focus on the low and medium income (LMI) consumer segment, the company has increased its presence in tier-II & III cities where the growth opportunity is immense.

9:59 AM

Financials rule IPO scene this year

 

This has been a record year for initial public offerings (IPOs) with fundraising crossing the Rs 30,000 crore-mark in the first nine months itself. Typically, in a bumper year, fundraising is well-distributed across sectors. Unfortunately, that’s not the case with the primary markets this year. An analysis of sector-wise distribution of capital raised this year shows every second rupee has been raised by financial sector firms. READ FULL ANALYSIS HERE

9:44 AM

Nifty outlook by Angel Broking

 

One should avoid aggressive longs in the index at this juncture and should rather focus on individual stocks that are offering trading opportunities in both directions. For Tuesday's session, 10,015-10,043 would be seen as immediate hurdles; whereas, on the lower side, any sustainable move below 9,959 would result into some weakness towards 9,930-9,880 levels.

9:39 AM

Buzzing stock

 

Lupin gained nearly 3% to Rs 1,070 after the pharmaceutical company said it has received final approval from the US health regulator to market generic Nadolol tablets, used for treatment of hypertension, in the American market. CLICK HERE FOR DETAILS

9:31 AM

IPO watch

 

MAS Financial Services Limited IPO subscribed overall 4.84x at 05.00 pm day 2 EOD (October 09, 2017). Retail subscribed at 6.32x, QIB  5.77x, NII 0.47x and Employee 1.85x.

9:31 AM

Kotak Securiries downgrades Insecticides (India) to SELL

 

After a strong Q1FY18 with 15.9% yoy growth in revenue of Insecticides (India) Ltd (IIL), Q2FY18 is expected to be a flattish quarter due to weather concerns, high base of last year, etc. The monsoon weakened in the month of August 2017, after timely onset in the month of June 2017 followed by strong rainfall in July. 

 

The uneven rainfall in the season with rainfall deficit of 5% of long period average (LPA) may negatively impact farm output and has also affected the growth expectations of the agrochemicals sector for FY18. This has also increases risk of downgrade in revenue guidance of IIL which was earlier at 15-20% growth for FY18. However, the company is confident of increasing EBITDA margins by 200 bps led by improved product mix. Based on revenue downgrade risk and stock trading above our target price, we downgrade our rating on the stock to SELL from (Buy earlier) with unchanged target price of Rs 830.

 

 

(Source: Kotak Securities report)

9:28 AM

Broader markets

 

The BSE Midcap and the BSE Smallcap indices gained 0.4% and 0.5%, respectively. 

9:26 AM

Sensex heatmap at open 

Source: BSE

9:26 AM

Technical check on the markets

 

Nifty closed in the positive territory in last trading and it achieved our short term target of 9990 which is 61.8% retracement of the fall from 10180 to 9687 levels. The momentum indicators have been into sell mode still which is a short term worry for the bulls. However, the indicators are showing signs of reversal on the daily charts. If the Index has completed the expanded flat pattern then a probability of a new high is quite high, hence on the lower side 9850 is a very crucial support. On the upside, 10020 is a crucial resistance in the short term, which when taken off will lead to further up move till 10100 levels and thereafter new highs i.e. till 10200 levels.

 

 

(Source: Anand Rathi Research)

9:20 AM

Markets at open

 

At 9:19 am, the S&P BSE Sensex was trading at 31,920, up 74 points, while the broader Nifty50 was ruling at 10,015, up 26 points. 

9:15 AM

Today's picks

 

BUY JAIN IRRIGATION          

 

CMP: Rs 99.65      

TARGET: Rs 109     

STOP LOSS: Rs 92.50

 

CLICK HERE FOR MORE STOCK PICKS 

9:05 AM

Today's picks

 

Technical view on Nifty, Bank Nifty, ONGC, Hindustan Unilever, NTPC by Devangshu Datta 

 

CLICK HERE FOR DETAILS 

9:00 AM

Wall Street update

Wall Street fell from record levels on Monday as gains in Microsoft and other technology stocks failed to offset a drop in General Electric and a slide in healthcare stocks.

 

The Dow Jones Industrial Average declined 0.06 percent to end at 22,761.07, while the S&P 500 lost 0.18% to 2,544.73. The Nasdaq Composite dropped 0.16% to 6,579.73.

8:59 AM

Asian markets

 

Asian markets rose on Tuesday. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.5%. Japan’s Nikkei stock index reversed early losses and gained 0.4% as markets reopened after a public holiday on Monday.

 

Korean shares rallied 2% on their first day of trading this month, on expectations that tensions with Pyongyang could ease, and as tech shares led by Samsung Electronics Co Ltd caught up with gains made by global stock markets after a long break.

 

Seoul markets were closed last week and on Monday for public holidays.