Markets end flat; Sensex hits fresh closing high, Nifty closes at 10,451

All that happened in today's trade

9:19 AM

Broader Markets

In broader markets, BSE Midcap index was little changed while BSE Smallcap index was trading 0.2% higher

9:17 AM

Markets Open

Benchmark indices open marginally lower as Asian shares tumble from recent decade highs on Monday and oil jumped to a more than two-year peak as Saudi Arabia’s crown prince cemented his power through an anti-corruption crackdown.

At 9:17 am, the S&P BSE Sensex was trading at 33,620, down 65 points while the broader Nifty50 index was ruling at 10,433, down 19 points

9:07 AM

Shell firms deposited, withdrew Rs 17,000 crore after demonetisation

 

As the government nears completion of a year after demonetisation, the data shows suspected ‘shell’ companies deposited and withdrew Rs 17,000 crore in the days after the note ban. 

 

The data, issued by the government, is from 56 banks for 35,000 companies, which had around 58,000 bank accounts. One company had a negative balance before demonetisation but deposited and withdrew Rs 2,484 crore after November 8, 2016, the government said.  READ MORE

9:04 AM

Trading ideas by Prabhudas Lilladher:

BUY YES BANK     

CMP: Rs 325.95     

TARGET: Rs 355-360    

STOP LOSS: Rs 310

 

BUY KALYANI STEEL     

CMP: Rs 423.45      

TARGET: Rs 460      

STOP LOSS: Rs 403

 

BUY BANK OF BARODA       

CMP: Rs 171.75    

TARGET: Rs 190     

STOP LOSS: Rs 162

Click here for rationale

9:01 AM

Nifty View by Prabhudas Lilladher:

 

Nifty continues to be in a new price territory with no signs of reversal for now. Our weekly range lies at 10,280 as support while resistance is seen at 10,580. Realty too has scope for further up move, however Nifty  being in the overbought zone, we suggest a cautious move.

8:58 AM

Technical calls by Angel broking:

 

1) Wockhardt                                                                             

View: Bullish

Last Close: Rs 675.75

 

2) Sun TV

View: Bullish

Last Close: Rs 881.55

8:52 AM

Nifty Outlook by Angel Broking

 

For the coming week, 10482-10500 levels would be closely watched in the upward direction; whereas, the immediate support lies in the range of 10,383-10,311. At this juncture, traders are advised not to take aggressive positions and should rather keep focusing on individual stocks with a proper exit strategy.

As far as sectoral view is concerned, we would expect ongoing buzz to continue in ‘Pharmaceutical’ as well as ‘PSU’ banking space. One should also keep a close track of ‘Midcap IT’ counters that are likely to do well in the forthcoming week. READ MORE

8:50 AM

Stock Recos for today's trade

DABUR - BUY

CLOSE – Rs- 340

TARGET – Rs 360 

 

AJANTA PHARMA- BUY

CLOSE – Rs 1240

TARGET – Rs 1320-1385 

 

TATA CHEMICALS- BUY

CLOSE – Rs-730 

TARGET – Rs 770-790 

Click Here for more

8:48 AM

Nifty outlook by Devang Shah

 

Short-term outlook for the market remains positive till Nifty trades below 10124 levels and expecting target of 10,750-10,800 levels in short term. Medium term outlook for the market remains positive till Nifty trades above 8,968 levels and is expecting targets in the range of 12,000-12,200 levels in medium term. 

 

10,000/10,200 levels is strong support & 10,500/10,700 levels is strong resistance levels respectively based on option open interest data so far for October month series. Market is going to be volatile ahead of Result season this month. Any kind of short term correction or consolidation is buying opportunity for medium to long term Investment perspectives till medium term reverses.  READ MORE

8:46 AM

PM Modi says India may announce tax relief for traders this week

 

India may announce measures next week to help traders and small businesses who say a new nationwide goods and services tax (GST) has increased their tax and administrative burden.

 

Prime Minister Narendra Modi said if there is the consensus at the next GST council meeting due over Nov. 9 to Nov. 10, the government would take the necessary steps to help traders and strengthen the country’s economy

8:38 AM

SGX Nifty

The Nifty50 futures on the Singapore Stock Exchange were trading 15.5 points lower at 10,470 indicating a flat to negative opening for the domestic market.

8:37 AM

Asia Check

Asian shares hovered near decade highs on Monday as strong US economic data and corporate earnings supported global stocks while major currencies held in tight ranges as investors focussed on US President Donald Trump’s tour of Asia this week.

 

MSCI’s broadest index of Asia-Pacific shares outside Japan was a touch softer at 556.39, but within striking distance of Friday’s top of 557.93 which was the highest since November 2007.

 

Australian shares traded around levels not seen since April 2015 at 5,956.90 points while Japan’s Nikkei advanced further to a 21-year peak.

8:37 AM

US markets end higher

 

A surge in shares of heavyweight Apple helped push up major Wall Street indexes on Friday, as investors also assessed a mixed US labor market report.

 

The Dow Jones Industrial Average rose 22.93 points, or 0.1%, to 23,539.19, the S&P 500 gained 7.99 points, or 0.31%, to 2,587.84 and the Nasdaq Composite added 49.49 points, or 0.74%, to 6,764.44.

8:36 AM

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