MARKET WRAP: Sensex sheds 378 pts, Nifty ends below 10,700; JSPL tanks 7%

The S&P BSE Sensex lost 378 points or 1.05 per cent to settle at 35,514 with HCL Tech (up 0.50 per cent) being the top gainer and ONGC (down 3.59 per cent) the worst laggard.

10:06 AM

HDFC MF pips ICICI Prudential to become India's top asset manager

HDFC Mutual Fund has overtaken ICICI Prudential MF to become the country’s largest asset manager, after trailing the latter for more than two years. HDFC MF’s average of assets under management (AUM) stood at Rs 3.35 trillion for the quarter ended December, a rise of 9.3 per cent over the previous three-month period.

Those of ICICI Prudential MF, on the other hand, slipped nearly one per cent to Rs 3.08 trillion, shows data from the Association of Mutual Funds in India. Read more

 

10:02 AM

NEWS ALERT | L&T Construction bags order worth Rs 1,060 crore.

9:59 AM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	35,930.77	+39.25	+0.11
S&P BSE SENSEX 50	11,302.51	+12.38	+0.11
S&P BSE SENSEX Next 50	32,758.97	+114.71	+0.35
S&P BSE 100	11,094.89	+15.88	+0.14
S&P BSE Bharat 22 Index	3,455.35	-8.06	-0.23

9:54 AM

Vijaya Bank, Dena Bank fall; BoB gains on fixing swap ratio for merger

Shares of Vijaya Bank and Dena Bank have fallen by up to 20% on the BSE in early morning trade on Thursday following an unfavorable share-swap ratio on their merger with Bank of Baroda. Dena Bank has plunged 20% to Rs 14.40 on the BSE. The stock was trading close to its 52-week low of Rs 13.75 touched on July 16, 2018, in intra-day trade. A combined 5.95 million equity shares changed hands on the counter on the BSE and NSE. Read more

 

9:49 AM

Shares of Vijaya Bank are trading over 6% lower post merger deal

9:36 AM

Swap ratio fixed for Bank of Baroda merger with Vijaya, Dena bank

The Union Cabinet on Wednesday gave its nod to the proposed merger of Vijaya Bank and Dena Bank with Bank of Baroda (BoB). The merger will be completed by April 1, to create the country’s second-largest public sector bank. The merged entity will also be the third-largest, in terms of assets, after State Bank of India (SBI) and HDFC Bank. The total assets of the three entities combined, as of September 2018, was Rs 10.44 trillion, trailing SBI (Rs 34.86 trillion) and Rs 11.70 trillion of HDFC Bank. Click here to read more

9:22 AM

Dena Bank cracks 19% in early trade post merger deal

9:20 AM

Sectoral trend on NSE

9:18 AM

Opening gainers and losers on BSE Sensex

9:16 AM

Market at open

 

At 9:15 AM, the S&P BSE Sensex was trading at 35,863, down 29 points, while the broader Nifty50 was ruling at 10,775, down 17 points.

9:02 AM

Market at pre-open

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	35,916.85	+25.33	+0.07
S&P BSE SENSEX 50	11,298.80	+8.67	+0.08
S&P BSE SENSEX Next 50	32,741.39	+97.13	+0.30
S&P BSE 100	11,091.21	+12.20	+0.11
S&P BSE Bharat 22 Index	3,471.54	+8.13	+0.23

9:01 AM

Rupee opening

 

Rupee opens weak at 70.29/$ vs its previous close of 70.18 against the US dollar

8:57 AM

Stock calls by Tradebulls Securities: Buy YES Bank, BEL

Stock: YES BANK

Reco.: BUY

CMP: Rs 184.50

 

The setup indicates the stock is being accumulated in ranges of 176-187 after the recent crash in stock prices from highs around 400 levels. Daily RSI is back above 50 levels and above its 9 EMA suggests underlying strength building up for a larger move on the upside targeting 199 & 208 levels in coming sessions. As accumulation pattern continues along with prevalent positive divergence on weekly scale; the stock could witness a spurt in momentum once out of accumulation zone. Trading longs can be deployed in the stock targeting 208 levels with stop placed below 176 levels. READ MORE

8:54 AM

Nifty outlook and top trading ideas by Prabhudas Lilladher

Nifty gets its daily trend down after 3 days while Bank Nifty is still in positive. The weekly trend would also turn negative if Nifty closes below 10746, so in conjunction with also the 200dma a close below 10745 would bring in more correction. The support for the day is seen at 35600/10720 while resistance is seen at 36180/10850. Bank Nifty would have a range of 26880-27470. Metal & Auto sector have turned weak. READ MORE

8:50 AM

BoB, Dena, Vijaya Bank and Ashok Leyland among top stocks to track

US stock futures were trading lower in the early trade on Thursday after tech giant Apple slashed its revenue outlook, but a move by China’s central bank to help struggling smaller firms lifted Asian shares.

 

At 08:40 am, the Nifty futures on the Singapore Stock Exchange (SGX) traded 19.50 points or 0.18 per cent higher at 10,851.50, indicating positive opening for the Nifty50 back home. Click here for top stocks to track