MARKET WRAP: Sensex rises 299 pts, Nifty reclaims 11,000 led by IT, banks

The Nifty IT index settled 2.4 per cent higher led by a rally in Infibeam Avenues, Tata Consultancy Services (TCS) and Infosys. The Nifty PSU Bank ended 3.6 per cent higher led by IDBI and Indian Bank

10:00 AM

Market Check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	36,115.39	-111.75	-0.31
S&P BSE SENSEX 50	11,379.82	-38.94	-0.34
S&P BSE SENSEX Next 50	31,653.14	-121.00	-0.38
S&P BSE 100	11,102.11	-38.88	-0.35
S&P BSE Bharat 22 Index	3,450.75	-8.88	-0.26

(Source: BSE)

9:47 AM

Stock alert Bandhan Bank tanks 20% as RBI bars it from opening new branches

Shares of Bandhan Bank have locked in lower circuit of 20% at Rs 451 per share on the BSE following Reserve Bank of India’s (RBI's) decision to stop the private sector lender from opening new branches and freezing the remuneration of its managing director & chief executive (MD & CEO) Chandra Shekhar Ghosh.
 

The stock was trading at its lowest level since its listing on March 27, 2018. It has fallen 39% from its all-time high level of Rs 741 touched on August 9, 2018, on the BSE in intra-day trade. READ MORE

9:30 AM

Interview of the day Factors for a bull market are looking a little thin, says Shankar Sharma

It has been a rollercoaster ride for the markets in the past few sessions. SHANKAR SHARMA, vice-chairman and joint managing director at First Global, shares his views on the recent developments and his sector preferences in this backdrop with Puneet Wadhwa. Click here to read

Shankar Sharma, vice-chairman and joint managing director at First Global

9:21 AM

Sectoral trends on NSE

9:21 AM

BSE Sensex: Top gainers & losers

9:19 AM

Market at open

 

At 9:18 AM, the S&P BSE Sensex was trading at 36,130, down 97 points while the broader Nifty50 was ruling at 10,868, down 62 points.

9:03 AM

Rupee check

Rupee opens at 72.62 per dollar, up 14 paise

9:02 AM

Market at pre-open

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	36,312.67	+85.53	+0.24
S&P BSE SENSEX 50	11,443.69	+24.93	+0.22
S&P BSE SENSEX Next 50	31,826.85	+52.71	+0.17
S&P BSE 100	11,166.35	+25.36	+0.23
S&P BSE Bharat 22 Index	3,479.55	+19.92	+0.58

(Source: BSE)

8:54 AM

Paytm Mall may acquire majority stake in BigBasket, talks on fast track

 

Paytm Mall, Paytm’s e-tail platform, could soon pick up a majority stake in online grocery provider BigBasket. Sources said that discussions on the deal, which began last year, were on a fast track. A Paytm spokesperson denied that the company was in talks with BigBasket. READ MORE

8:50 AM

Canadian dollar up on NAFTA agreement, Nikkei hits 27-year high

 

The Canadian dollar and the Mexican peso rose and Japanese shares hit 27-year highs on Monday after the United States and Canada reached a framework deal to update the North American Free Trade Agreement. 

8:47 AM

Top commodity picks for the week 

 

Chana prices are expected to trade with a positive bias. Low stocks in free markets coupled with upcoming festive demand to keep the undertone firm in near term. Prices at the benchmark Bikaner markets are trading at Rs 4,050 a quintal, during the coming days prices are expected to head towards Rs 4,100-4,125 per quintal. READ MORE

8:42 AM

Nifty outlook and top trading ideas by Prabhudas Lilladher for today

 

Nifty has once again taken support around the 10850 level as of now and the chances of breaking this support cannot be ruled out with the sentiment and bias being weak. BankNifty too has maintained the previous support zone of 24,900 levels and some select stocks like HDFC Bank, Axis Bank and Kotak Bank look promising. However, the support for the week is seen at 35,620/10,720 while the resistance is seen at 37,000/11,180 levels. Bank Nifty would have a range of 24,460-25,900. READ MORE

8:37 AM

Short-term outlook for market remains negative: Devang Shah

 

The markets closed the 4th consecutive week in negative territory. It was highly volatile for the week. It was traded in the broad range of 11,170-10,850 levels during the week. It made a low of 10,850.30 levels during the week. Break of this lows will confirm the extension of correction for further lower levels targets as mentioned below in short term. Till that market may trade in a range with high volatility. As Market is in oversold zone, we may see surprise pullback rally in short term. But one should follow trend till it reverses. The short-term outlook for the market remains negative till it finally confirms the end of these wave-IV short-term corrections. READ MORE

8:33 AM

Brent oil near four-year high

 

Oil prices opened firmly, with Brent hovering close its highest in nearly four years ahead of US sanctions against Iran that kick in next month. Brent crude oil futures LCOc1 were trading at $83.04 per barrel at 0057 GMT, up 31 cents, or 0.4 per cent, from their last close and near the $83.07 level reached during the last session - the highest since November 2014.

8:30 AM

Asian stocks trade mixed

 

Stocks in Asia kicked off the final quarter in muted fashion. Japan’s Topix rose, and South Korea’s Kospi was little changed. S&P 500 Index futures climbed after the benchmark saw the best quarter since 2013.