MARKET WRAP: Sensex rises 204 pts; YES Bank hits 52-week low; Jet gains 4%

Among the sectoral indices, the Nifty IT index settled 2.7 per cent higher led by a rise in MindTree, Infosys and Tata Consultancy Services (TCS) which rose in the range of 4 to 5.7 per cent.

9:02 AM

Market at pre-open

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	35,631.90	+118.76	+0.33
S&P BSE SENSEX 50	11,181.27	+13.93	+0.12
S&P BSE SENSEX Next 50	32,132.41	+49.33	+0.15
S&P BSE 100	10,962.99	+15.40	+0.14
S&P BSE Bharat 22 Index	3,460.17	+8.05	+0.23

9:01 AM

Rupee opening

 

Rupee opens at 70.88/$ vs its previous close of 70.79 against the US dollar.

8:55 AM

Top trading ideas by HDFC Securities 

 

Buy Escorts at Rs 689

Target: Rs 743

Stop loss: Rs 655

 

The stock price has broken out from the consolidation, which held in for last 2 weeks. The stock price took support in the gap which was formed on 1st November between 629 and 636. Moving average and Oscillator setup seems bullish for the counter on the charts. Considering the technical evidence discussed above, we recommend buying the stock at CMP for the target of 743, keeping a stop loss at 655 on the closing basis. Read more

8:52 AM

Future Retail, YES Bank, IDBI Bank and PNB among top stocks to track

 

Online retailer Amazon is in advanced stage of talks to buy around 9.5 per cent stake in Kishore Biyani-led Future Retail. A final shape to an agreement between the two parties is expected to take place within the next 10 days, the sources said although in case of last minute hurdles the deal could be announced as late as January 2019, said a PTI report. Read more

8:50 AM

Nifty outlook by Prabhudas Lilladher

 

The market continues to bounce, now with Nifty likely to approach the 200dma level of 10730. More so along with Bank Nifty the other sectors too have started participating for the index to move on. The support for the day is seen at 35240/10620 while resistance is seen at 35800/10750. Bank Nifty would have a range of 26170-26740. Auto stocks and Auto ancillary look promising from here on. Metal stocks too look favorable for a bounce. Click here to read more

 

8:48 AM

Rupee check

 

The rupee recovered by 8 paise to close at 70.79 against the US dollar on Tuesday on increased selling of the greenback by exporters and softening crude oil prices.

8:43 AM

Oil Check

 

Oil prices rose on Wednesday ahead of an OPEC meeting next week at which the producer club is expected to decide some form of supply cut to counter an emerging glut. 

 

US West Texas Intermediate (WTI) crude futures were at $52.00 per barrel, up 44 cents, or 0.9 percent from their last settlement. International Brent crude oil futures had yet to trade.

8:38 AM

SGX Nifty

 

SGX Nifty was trading firm at 10,728 levels, up 37 points, or 0.3 per cent at 8.40 am Indian Standard Time. 

8:33 AM

Asian shares tentative ahead of Trump-Xi meeting, Fed speech

 

Asian shares dithered on Wednesday and the dollar jumped to a near 1-1/2-year top as risk assets rowed back amid conflicting signals on prospects for de-escalating the China-US trade dispute.

 

MSCI’s broadest index of Asia-Pacific shares outside Japan see-sawed between positive and negative territory and last was flat. Australian and South Korean stocks were both down 0.2 per cent. Japan’s Nikkei gained 0.7 per cent. Chinese indices shed small early gains.

 

8:24 AM

Wall Street check

 

The S&P 500 and the Dow Jones Industrial Average edged higher on Tuesday after White House economic adviser Larry Kudlow said a meeting between President Donald Trump and his Chinese counterpart on Saturday was an opportunity to “turn the page” on a trade war.

 

All three of Wall Street’s major indexes reversed losses following Kudlow’s comments days ahead of the high-stakes dinner between Trump and Xi Jinping after the G20 summit in Buenos Aires.

 

The Dow Jones Industrial Average rose 108.49 points, or 0.44 per cent, to 24,748.73, the S&P 500 gained 8.75 points, or 0.33 per cent, to 2,682.2 and the Nasdaq Composite added 0.85 point, or 0.01 per cent, to 7,082.70.

8:20 AM

Good morning

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