MARKET WRAP: Sensex cracks 572 pts on global sell-off; IT, auto stocks drag

The Nifty IT index fell 2.1 per cent weighed by Infibeam Avenues, Tech Mahindra and Infosys. The Nifty Auto index, too, ended 2.2 per cent lower pulled by Maruti Suzuki and Tata Motors.

9:02 AM

Market at pre-open

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	35,904.71	+20.30	+0.06
S&P BSE SENSEX 50	11,285.25	+6.15	+0.05
S&P BSE SENSEX Next 50	31,717.94	-22.19	-0.07
S&P BSE 100	11,028.13	+5.06	+0.05
S&P BSE Bharat 22 Index	3,377.94	+9.58	+0.28

9:01 AM

Rupee opening

 

Rupee opens at 70.79/$ vs its previous close of 70.46 against the US dollar

8:55 AM

Power Grid, Tata Communications and Sagar Cements among top stocks to watch

Power Grid: The company has bagged a project to set up a transmission system for evacuating electricity from the 1,320 MW Jawaharpur thermal power project and to construct a substation in Uttar Pradesh. As per the filing, the project would be done on Build, Own, Operate and Maintain (BOOM) basis.

 

Tata Communications: UROS Group, a global innovator in turnkey IoT solutions and smart connectivity, is collaborating with Tata Communications to support the deployment of IoT and Smart City solutions across large commercial and public sector organisations globally. CLICK HERE FOR MORE

8:50 AM

WEB EXCLUSIVE Can Jindal Steel, SAIL, NMDC bounce back? Here's what technical charts say

JINDAL STEEL: The stock has been continuously trading below significant EMA from October. The stock breached crucial support of Rs 175 on closing basis on Wednesday. It made a rebound attempt but fell short due to lack of volumes. The 50-day (EMA) created pressure around Rs 182 – 184 levels, after fresh 52-week low on Wednesday. As a result, the trading range has now shifted lower to 172 – 175 levels. CLICK HERE TO READ MORE

The NCLAT modified its earlier order and asked the CoC to go ahead with the resolution process and place it before the adjudicating authority

8:46 AM

Top trading ideas by Prabhudas Lilladher

BUY TECH MAHINDRA

CMP: Rs 726.85

TARGET: Rs 800

STOP LOSS: Rs 700

 

The stock has taken support at the significant 200DMA moving average and indicated a bounce back to show positive bias and has the potential to carry on the momentum still further upward in the coming days. The RSI has been positive and is on the rise and with other favorable indicators supporting, we recommend a buy in this stock for an upside target of 800 keeping a stop loss of 700. READ MORE

8:42 AM

Nifty outlook by Prabhudas Lilladher for today

Nifty gets its daily trend turned down too, a support of 10740 would be very crucial also being the 200DMA level Sector wise IT stocks look positive for now while other sectors are showing resistance & witnessing profit booking. The support for the day is seen at 35630/10720 while resistance is seen at 36150/10850. Bank Nifty would have a range of 26250-26780. The market would be volatile ahead of all events to unfold.

8:39 AM

Rupee check

 

The rupee ticked higher by 3 paise to 70.46 against the US dollar Wednesday amid weakness in the greenback and easing crude oil prices.

8:35 AM

Oil prices dip as stock markets slide, but trading tepid ahead of OPEC meeting

 

Oil prices fell along with weak stock markets on Thursday, but trading was tepid ahead of a meeting by producer group OPEC that is expected to result in a supply cut aimed at draining a glut that has pulled down crude prices by 30 percent since October.

 

US West Texas Intermediate (WTI) crude futures were at $52.66 per barrel, down 23 cents, or 0.4 per cent, from their last close. International Brent crude oil futures were down 7 cents, or 0.1 per cent, at $61.49 per barrel.

8:29 AM

SGX Nifty

At 8.28 am, SGX Nifty is trading 90 points, or 0.8 per cent lower at 10,743.50-levels

 

8:24 AM

Asian markets check

 

US stock futures tumbled on Thursday and Asian markets followed after Canadian authorities arrested a top executive of Chinese tech giant Huawei Technologies, fanning fears of further tensions between China and the United States.

 

Japan's Nikkei slid 0.8 per cent, with benchmark indexes in South Korea and Australia down 0.6 per cent and 0.2 per cent, respectively.

8:20 AM

Good morning

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