MARKET WRAP: Sensex, Nifty end flat with negative bias; PSBs, IT slip

The S&P BSE Sensex touched an intra-day low of 39,461 levels while the Nifty50 drifted to 11,817 levels during the day before staging a limited recovery. Banking stocks were among the key losers

9:04 AM

Top loser on BSE Sensex during Pre-Open

9:03 AM

Top gainers and losers on S&P BSE Sensex during Pre-open trade

9:03 AM

RUPEE ALERT

Rupee opens unchanged against Wednesday's close of 69.34

9:02 AM

Market at pre-open

9:01 AM

Market at pre-open

8:52 AM

Stocks to watch: DHFL, Tata Sponge, Music Broadcast and Tiger Logistics

Here's a look at some of the companies whose shares are expected to trade actively in Thursday's session -

 

DHFL: The promoters of Dewan Housing Finance Corporation (DHFL) are willing to share control of the embattled company by selling half their stake to a "strategic investor", said a Business Standard report. Kapil Wadhawan is also open to stepping down as managing director (MD), the report added. 

 

Tata Motors: The Tata Motors Group global wholesales in May 2019, including Jaguar Land Rover, slipped 23 per cent over May 2018.

 

Tiger Logistics: CARE Ratings has revised the outlook of credit rating to the company as under - Long term bank facilities - CARE BBB; Negative (Rating reaffirmed; outlook revised from Stable) Long term / short term bank facilities - CARE BBB; Negative / CARE A3 (Rating reaffirmed; outlook revised from Stable).  READ MORE

8:49 AM

All you need to know about bid-ask spreads and its importance while trading

When you trade stocks the price / volume screen will show you the bid price and the ask price. The bid price shows the best price at which the other party is willing to buy the stock. That will be the best price at which the trader on the screen can sell the stock. The ask price shows the best price at which the other party will sell the stock. It is the best price at which the trader on the screen can buy the stock. The extent to which the ask price on the screen is greater than the bid price on the screen represents the bid-ask spread of the stock. Look at the bid-ask chart below. READ MORE

8:46 AM

Nifty view | Metal and Realty sector

The short term trend of Nifty is down and more weakness could be in store for the near term. One may expect Nifty to retest the key lower support of 11,760 levels in the next 2-3 sessions. Immediate resistance is placed at 11,960 levels.

(Source: HDFC Securities)

8:43 AM

Funding for NBFCs should accompany RBI's liquidity management rules: FIDC

The non-banking finance companies, most of whom are cash strapped, want the Reserve Bank of India (RBI) to implement liquidity risk management rules only in tandem with an arrangement for making available much needed funds. Else, RBI should defer the roll out of risk management rules until liquidity situation become normal. CLICK HERE FOR MORE

8:35 AM

Nifty Derivatives by Kotak Securities

8:28 AM

Market review | Nagaraj Shetti – Senior Technical & Derivative Analyst, HDFC Securities

Nifty slipped into weakness today, next down side levels to be watched at 11820-800

After showing a lacklustre type of up movement in the last couple of sessions, the Nifty slipped into weakness on Wednesday and closed the day lower. A small negative candle was formed with minor lower shadow, which signals a reversal pattern at 12K mark, after a small upside bounce.  Last sessions swing high of 12,000 could now be considered as a new lower top formation. As per this pattern, one may expect further weakness in Nifty in the coming sessions.

 

Hence, the next down side levels to be watched at 11,820-11,800, in the next few sessions.

8:24 AM

India Inc presses fund houses for more AAA-rated firms in portfolios

Corporate India has stepped up due diligence of its mutual fund investments and is pressing fund houses to tweak their portfolios to include more AAA-rated companies and sovereign public sector undertakings, even if it means sacrificing returns. Institutional investors had gravitated towards bigger fund houses that were perceived as safer after the IL&FS crisis. READ MORE

8:22 AM

PwC quits as RCap, RHFL auditor over their unsatisfactory response in audit

PwC had noted certain observations and transactions as part of the ongoing audit. The audit firm was of the view that these — if not resolved satisfactorily — might be significant or material to the financial statements, according to the exchange disclosures by the two firms. READ MORE

8:17 AM

DHFL promoters may sell half their stake; Wadhawan could give up MD post

The promoters of Dewan Housing Finance Corporation (DHFL) are willing to share control of the embattled company by selling half their stake to a "strategic investor". Kapil Wadhawan, who represents the promoters in the board, is also open to stepping down as managing director (MD) and keeping only the chairman’s position so that the company can be run jointly with the new partner. READ MORE

8:15 AM

Sebi moves SC against NCLT order on IBC overriding regulators' laws

The Supreme Court on Wednesday agreed to hear a plea by the Securities and Exchange Board of India (SEBI) against an order by the National Company Law Tribunal (NCLT), which had held that the laws of Insolvency and Bankruptcy Code (IBC) would reign over the markets regulator’s laws. The top court, while agreeing to hear the case, asked that the present status quo be maintained in the case. CLICK HERE TO KNOW MORE