MARKET WRAP: Sensex jumps 551 pts as govt assures RBI autonomy; HDFC up 6%

Nifty IT index settled 4.2 per cent higher led by gains in Tech Mahindra and Infosys. The Nifty Financial Services index too rose 2.3 per cent led by Indiabulls Housing Finance and HDFC

9:39 AM

MUST READ RBI governor may consider resigning after rift with government: CNBC TV18

The rift between India's central bank and the government has widened and could lead to the Reserve Bank of India (RBI) governor considering resignation, CNBC TV18 reported on Wednesday, citing sources. CLICK HERE FOR MORE

Urjit Patel, Governor, RBI during a press conference announcing the RBI monetary policy in Mumbai on Wednesday | Photo: Kamlesh Pednekar

9:38 AM

NEWS ALERT Rupee back at 74 per dollar mark

9:36 AM

NSE-SGX's Gift City foray faces tech glitches; delay of 18 months expected

 

The potential collaboration between the National Stock Exchange (NSE) and the Singapore Stock Exchange (SGX) for routing trades through Gift City in Gujarat is unlikely to take off anytime soon. People in the know said the proposed Gift City-connect between the two exchanges could take anywhere between 12 and 18 months to fructify. Both NSE and SGX submitted their initial proposal to their respective regulators — Securities and Exchange Board of India (Sebi) and Monetary Authority of India (MAS) — earlier this month. Read more

9:27 AM

Tata Motors is trading lower ahead of Q2 results

9:20 AM

Sectoral trend on NSE

9:19 AM

S&P BSE Sensex top gainers and losers

9:17 AM

Market at open

 

At 9:16 AM, the S&P BSE Sensex was trading at 34,007, up 113 points while the broader Nifty50 was ruling at 10,239, up 41 points.

 

9:01 AM

Market pre-open

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	33,971.38	+80.25	+0.24
S&P BSE SENSEX 50	10,739.39	+59.73	+0.56
S&P BSE SENSEX Next 50	30,948.21	+171.51	+0.56
S&P BSE 100	10,532.69	+58.33	+0.56
S&P BSE Bharat 22 Index	3,372.91	+19.70	+0.59

9:01 AM

Rupee opening

 

Rupee opens weak at 73.92/$ vs its previous close of 73.67 against the US dollar

8:54 AM

Nifty Outlook by HDFC Securities

 

The recent bottom of 10004 in Nifty seems to have become short-term bottom for the Nifty, as oscillators have been showing strength while markets were dragging down during last week. Nifty bounced back sharply after taking support at its 100-week moving average, placed at 10000 odd levels. There has been a development of positive divergence on the Daily RSI Indicator, where Nifty has formed a new bottom and RSI has made a higher bottom. Click here to read more

8:51 AM

Buy UPL for a target of Rs 715, SL of Rs 585: Prabhudas Lilladher

BUY UPL

CMP: Rs 636.80

TARGET: Rs 715

STOP LOSS: Rs 585

 

The stock has made a double bottom formation pattern at around 585 levels indicating good support base and has bounced back to signify strength and potential to rise further in the coming days. The RSI also has indicated a trend reversal with a buy signal and with good volume participation witnessed, we recommend a buy in this stock for an upside target of 715 keeping a stop loss of 585. READ MORE

8:47 AM

Today's picks: Tech Mahindra to CIL, hot stocks to watch on Wednesday

 

Tech Mahindra

Current price: Rs 685

Target price: Rs 700

 

Keep a stop at Rs 679 and go long. Add to the position between Rs 692 and Rs 696. Book profits at Rs 700.

 

Coal India

Current price: Rs 276

Target price: Rs 270

 

Keep a stop at Rs 279 and go short. Add to the position between Rs 271 and Rs 272. Book profits at Rs 270. READ MORE

8:42 AM

Oil prices rise for first time in three days, but trade war fears drag

 

Oil prices climbed for the first time in three days on Wednesday, but rising supply and fears over the outlook for demand amid the US-China trade war kept pressure on the market.

 

Brent crude futures had gained 36 cents, or 0.5 per cent, to $76.27 a barrel. They fell 1.8 per cent on Tuesday, at one point touching their lowest since Aug. 24 at $75.09 a barrel. US West Texas Intermediate (WTI) crude futures advanced 27 cents, or 0.4 per cent, to $66.45 a barrel on Wednesday.

8:35 AM

Rupee check

The rupee on Tuesday depreciated by 23 paise to close at 73.68 against the US dollar in line with fall in equities amid steady capital outflows and the strengthening of the American unit against major rivals overseas.

8:30 AM

SGX Nifty

 

Trends on SGX Nifty indicate a positive opening for the broader index in India, a gain of 70.5 points or 0.69 per cent. Nifty futures were trading around 11,299-level on the Singaporean Exchange.