MARKET WRAP: Sensex falls 106 pts on sell-off in banks, Nifty holds 10,800

The S&P BSE Sensex shed 106 points or 0.29 per cent to settle at 36,107 with Tata Motors (up over 1 per cent) being the top gainer and IndusInd Bank (down over 2 per cent) the worst performer.

8:55 AM

Nifty outlook by Prabhudas Lilladher

Nifty has crossed the hurdle of 10830-10850, now likely to break out from this range for higher targets with supporting indicators. Bank Nifty too amidst all the choppiness continues to surge with star performers like Axis & ICICI. The support for the day is seen at 35930/10780 while resistance is seen at 36500/10920. Bank Nifty would have a range of 27430-28030. The market now awaits the result of IT Giant TCS. ITC & Tata Motors too have after a long consolidation come out of its range. Click here to read more

8:51 AM

TCS, Vakrangee, Bandhan Bank and YES Bank among top stocks to track

Asian stocks were trading lower in the early trade Thursday as investors awaited more clues from US-China trade talks. In the overnight trade, Wall Street ended higher after a volatile session. At 08:37 am, the Nifty futures on Singapore Exchange (SGX) were trading 27.50 points or 0.25 per cent higher at 10,903, indicating positive start for domestic stocks. 

 

Here's a look at the top stocks that may remain in focus today

8:43 AM

Stock calls by Tradebulls Securities: Buy Axis Bank

Stock: AXIS BANK

Reco.: BUY

CMP: Rs 671

 

The stock closed at new life highs along with acceleration of uptrend indicating a start of fresh impulse. The move commenced from 604 lows registered on 3rd January and is expected to continue till initial Fibonacci projection targets of 698 & 704 in coming weeks. The pattern setup is further complemented as daily RSI is crossed above 65 levels and has room till overbought levels are witnessed. Traders should accumulate the stock on dips with stops placed below 654 for 698 & 704 extended targets Click here for more

8:40 AM

TCS Q3 preview: Experts say cross currency headwinds may hit revenue growth

Tata Consultancy Services (TCS) is slated to announce its third quarter results of the current financial year 2018-19 (Q3FY19) on Thursday. Third quarter is a seasonally soft three-month period, with fewer working days due to the holiday season, as well as furloughs in select verticals. Due to this, most brokerages expect Tier-1 IT companies to report tepid constant currency (CC) revenue growth of 1.8-3.2 per cent on quarter-on-quarter (QoQ) basis. READ MORE

TCS

8:35 AM

Rupee check

The rupee on Wednesday extended its losses by another 25 paise to close at 70.46 against the US dollar as continued rise in global crude oil prices weighed on sentiments.

8:33 AM

Oil falls 1% on swelling US supply, but mood generally upbeat on trade hopes

Oil prices fell by 1 per cent on Thursday on swelling US supply, although the mood in global markets was increasingly confident amid hopes the United States and China may soon end trade disputes that have undermined global economic growth.

US West Texas Intermediate (WTI) crude oil futures were at $51.75 per barrel, down 61 cents, or 1.2 per cent, from their last settlement. International Brent crude futures were down 1 per cent, or 63 cents, at $60.81 per barrel.

8:30 AM

SGX Nifty

 

Nifty futures on Singapore Exchange (SGX) were trading at 10,903, up 27.50 points or 0.25 per cent in early trade.

8:27 AM

Asian shares start cautiously after trade talks end, dovish Fed minutes

The Asian shares began cautiously on Thursday, struggling to rise after a multi-day rally as markets await more news on US-China trade talks that have raised hopes of a deal to avert an all-out trade war.

 

MSCI’s broadest index of Asia-Pacific shares outside Japan was a tad lower, trading not far off a near four-week high. Australian shares were down 0.2 per cent, while Japan’s Nikkei eased 1.2 per cent.

 

8:24 AM

Wall Street closes higher with help from technology stocks

Wall Street rallied for a fourth session on Wednesday, propelled by Apple, chipmakers and other trade-sensitive stocks after signs of progress in trade talks between the United States and China. 

The Dow Jones Industrial Average rose 91.54 points, or 0.38 per cent, to 23,878.99, the S&P 500 gained 10.55 points, or 0.41 per cent, to 2,584.96 and the Nasdaq Composite added 60.08 points, or 0.87 per cent, to 6,957.08.

 

8:21 AM

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