MARKETS WRAP: Sensex rises 132 pts, Nifty reclaims 10,500; IT, pharma gain

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9:17 AM

Market at open

 

At 9:15 AM, the S&P BSE Sensex was trading at 34,765, up 35 points while the broader Nifty50 was ruling at 10,473, up 3 points.

9:03 AM

Market at pre-open

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	35,001.09	+267.51	+0.77
S&P BSE SENSEX 50	11,033.25	+92.87	+0.85
S&P BSE SENSEX Next 50	31,255.80	+421.60	+1.37
S&P BSE 100	10,793.45	+99.03	+0.93
S&P BSE Bharat 22 Index	3,352.03	+20.28	+0.61

9:02 AM

Rupee check

Rupee opens at 73.80/$ vs previous close of 73.57 per dollar

8:55 AM

Trading ideas by Devang Shah

 

PIDILITE – BUY

CLOSE – Rs 994

TARGET – Rs 1,060

 

Pidilite closed the weekly in a positive territory. It looks like the end of short-term correction. Risk reward is favourable to buy at current levels. It has wave-V Up pending on the upside. One can buy with a stop loss of Rs 933 for the target of 1,060 levels in short term. Click for more

8:50 AM

Short-term outlook for market looks negative: Devang Shah

 

Short-term outlook for the market remains negative till Nifty trades above 10,138 levels and expecting targets in the range of 1,080-11,100 levels in short term. Medium term outlook for the market remains positive till Nifty trades above 9,951 levels and expecting targets in the range of 12,500-12,800 levels in the medium term. Read More

8:46 AM

Top trading ideas by Prabhudas Lilladher

 

BUY MAHINDRA & MAHINDRA

CMP: Rs 768.50

TARGET: Rs 840

STOP LOSS: Rs 715

 

The stock has made a steep correction in the past one month from the peak of 976 levels to show signs of bottoming out at 715-720 levels and currently a positive bullish candle formation has been made to signify strength and has the potential to give further upside movement in the coming days. The RSI also has hit the highly oversold zone and has shown a trend reversal to signal a buy and with good consistent volume activity seen in the stock, we recommend a buy in this stock for an upside target of 840 keeping a stop loss of 715. Click here for more

8:42 AM

Nifty outlook by Prabhudas Lilladher for today

 

Nifty has given a relief rally by a decent bounce back from the low of 10138 but there is a major resistance at around 10,550-10,600 levels. Similarly, for Bank Nifty the levels of 26,100-26,200 can be a major hurdle and only a breach above that zone can bring about a conviction for further upside movement. The support for the week is seen at 34,000/10,250 while resistance is seen at 35,300/10,650 levels. Bank Nifty would have a range of 24,700-26,000. Click here for more

8:38 AM

Oil check

 

Oil prices reversed their downtrend since early this month. Brent crude futures rose 1.7 per cent to $81.82 per barrel, bouncing back from Friday’s near-three-week low of $79.23.

8:34 AM

Rupee zooms 55 paise to 73.57 a dollar, marks biggest jump in over 3 weeks

 

Rising for the third straight day, the rupee strengthened by 55 paise to settle at 73.57 against the US dollar Friday, marking its biggest gain in over three weeks as global crude prices eased and domestic indices staged a smart rebound. Steps taken by the government to curb non-essential imports and anticipation of more measures to attract foreign inflows have boosted sentiment in the market, traders said.

8:30 AM

SGX Nifty

 

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 11.5 points or 0.11 per cent. Nifty futures were trading around 11,467-level on the Singaporean Exchange.

8:28 AM

Asian shares slip on lingering trade, US rates worries

 

Asian shares slipped on Monday as worries over Sino-US trade disputes, a possible slowdown in the Chinese economy and higher US borrowing costs tempered optimism despite a rebound in global equities late last week.

 

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3 per cent while Japan's Nikkei dropped 0.9 per cent.

 

MSCI’s broadest gauge of the world’s stock markets, was off 0.1 per cent after a sizable 3.87 per cent decline last week to a one-year nadir, and marking its biggest weekly fall since March.

8:25 AM

Wall street

 

S&P500 energy and financial sectors managed to close the session with slight gains after a late afternoon rally. The S&P technology index gained 3.2 per cent on the day, showing its strongest one-day gain since March 26, although it still registered its biggest weekly drop since March 23.

The Dow Jones Industrial Average rose 287.16 points, or 1.15 per cent, to 25,339.99, the S&P 500 gained 38.76 points, or 1.42 per cent, to 2,767.13 and the Nasdaq Composite added 167.83 points, or 2.29 per cent, to 7,496.89.

8:20 AM

Good morning!

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