MARKET WRAP: Sensex ends 373 pts up as rupee recovers; PM eco meet eyed

In the broader markets, the S&P BSE MidCap settled 1.6 per cent higher and the S&P BSE SmallCap rose 1.4 per cent.

10:32 AM

Interview of the day The Trump trade war is a disaster for the world: Merk Investments' advisor

Trade tensions have rattled emerging markets in recent months. William Poole, senior advisor, Merk Investments says the trade war will hurt most countries including the US. In an interview to Samie Modak during CFA Society India 3rd India Wealth Management Conference, Poole says India has the potential to exceed China's growth. Click here to read more

William Poole

10:15 AM

Investors remain bearish on gold ETFs, pull out Rs 450 mn in August

 

Investors remained bearish on gold exchange-traded funds (ETFs) as they pulled out Rs 450 million from the instrument in August, taking the total outflow in the first five month of 2018-19 financial year to Rs 2.41 billion.

 

The net outflow meant assets under management of gold funds fell 7.5 per cent in the first five months of 2018-19 to Rs 44.45 billion in August-end, according to latest data available with Association of Mutual Funds in India (Amfi). READ MORE

10:00 AM

Market Check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	37,926.54	+208.58	+0.55
S&P BSE SENSEX 50	11,976.86	+76.23	+0.64
S&P BSE SENSEX Next 50	34,299.62	+392.67	+1.16
S&P BSE 100	11,735.66	+83.68	+0.72
S&P BSE Bharat 22 Index	3,630.92	+35.73	+0.99

9:45 AM

MUST READ PSUs cut dividend 2nd time in a decade as cash reserves continue to dwindle

 

The combined dividend payout by public sector undertakings (PSUs), excluding banks and financials, declined nearly 10 per cent in 2017-18. This was the first time since 2014-15 — and only the second instance in a decade — when the dividend kitty shrank over the previous fiscal year.

 

The cut in equity dividends paid by PSUs was despite the improvement in their profitability, especially for oil companies and metal producers. READ MORE

 

9:32 AM

Govt hikes procurement price of ethanol; sugar stocks gain

COMPANY	LATEST	PREV CLOSE	GAIN()	GAIN(%)	VOLUME
MAGADH SUGAR	95.00	89.00	6.00	6.74
RANA SUGARS	3.63	3.50	0.13	3.71
SAKTHI SUGARS	15.40	14.89	0.51	3.43
DWARIKESH SUGAR	21.30	20.60	0.70	3.40
TRIVEN.ENGG.IND.	43.45	42.55	0.90	2.12

9:26 AM

Cabinet okays Rs 15,053 crore new procurement policy to assure MSP to farmers; Fertilizer stocks gain

COMPANY	LATEST	PREV CLOSE	GAIN()	GAIN(%)	VOLUME
R C F	78.50	67.75	10.75	15.87
COROMANDEL INTER	406.00	396.80	9.20	2.32
G N F C	403.90	395.35	8.55	2.16
S P I C	29.65	29.55	0.10	0.34
NAGARJUNA FERT.	12.35	12.32	0.03	0.24

9:22 AM

Nifty sectoral trend

9:21 AM

BSE Sensex opening gainers and losers

9:17 AM

Markets at open

 

The S&P BSE Sensex reclaimed 38,000 mark. At 9:15 AM, it was trading at 38,051, up 333 points while the broader Nifty50 was ruling at 11,480, up 110 points.

9:08 AM

Top trading idea by Prabhudas Lilladher

 

BUY JSPL    

CMP: Rs 224.40       

TARGET: Rs 248     

STOP LOSS: Rs 210

 

The stock has been in an upward trending mode in the daily chart forming a higher bottom pattern at regular intervals and currently has indicated a bullish candle to signify strength and has potential to carry on the momentum still further upward to give a breakout above the significant 200DMA moving average and has maintained a positive bias. With the indicators looking favourable and with good volume participation witnessed, we recommend a buy in this stock for an upside target of 248 keeping a stop loss of 210.

 

Click here for more

9:02 AM

Markets at pre-open

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	37,889.43	+171.47	+0.45
S&P BSE SENSEX 50	11,965.31	+64.68	+0.54
S&P BSE SENSEX Next 50	34,023.68	+116.73	+0.34
S&P BSE 100	11,711.82	+59.84	+0.51
S&P BSE Bharat 22 Index	3,611.20	+16.01	+0.45

9:02 AM

RUPEE ALERT

Rupee opens firm at at Rs 71.73

8:59 AM

Nifty outlook by Prabhudas Lilladher

Nifty after correcting from 11,750 levels to a low of 11,250, which is a prominent support, Nifty has bounced with rupee also retracing has given an impetus for a boost, however, this would be still considered as a bounce as indicators do not confirm any signs of reversal. The support for the day is seen at 37,460/11,300 while resistance is seen at 37,980/11,440. Bank Nifty would have a range of 26,550-27,100. Pharma stocks along with Metals look promising from here on.

8:53 AM

IIP, retail inflation ease
 

Industrial production grew at 6.6 per cent in July on the back of good performance by the manufacturing sector and higher offtake of capital goods and consumer durables. Retail inflation cooled to an 11-month low of 3.69 per cent in August mainly due to a fall in prices of kitchen items, including fruits and vegetables, official data showed Wednesday.

8:50 AM

Rupee stages sharp comeback

 

The rupee Wednesday rebounded from the historic low of 72.91 to end higher by 51 paise at 72.18 against the dollar after the finance ministry assured of steps to avert its fall to "unreasonable levels".