Markets pare entire gains; Sensex down 90 points, Nifty ends below 10,000
All that happened in Wednesday's trade
9:23 AM
Broader markets
The BSE Midcap and the BSE Smallcap indices gained 0.5% and 0.8%, respectively.
The BSE Midcap and the BSE Smallcap indices gained 0.5% and 0.8%, respectively.
9:21 AM
Markets at open
At 9:18 am, the S&P BSE Sensex was trading at 32016, up 91 points, while the broader Nifty50 was ruling at 10053, up 36 points.
At 9:18 am, the S&P BSE Sensex was trading at 32016, up 91 points, while the broader Nifty50 was ruling at 10053, up 36 points.
9:07 AM
Stocks in news
Bharti Infratel, Biocon, Coal India, Prakash Industries, Dena Bank, and more
9:04 AM
Pre-open trade
The S&P BSE Sensex oepned positive in pre-open trade to trade above 31,900, while the broader Nifty held above 10,000.
8:58 AM
Technical picks by HDFC Securities
Buy Sterlite Tech
CMP: Rs 244
Stop loss: Rs 230
Target: Rs 265
8:56 AM
Nifty outlook by Chandan Taparia
Nifty formed a Doji candle for second day in a row and this candle suggests that Bulls and Bears are fighting hard near 10,000 mark. Now it has to continue the formation of higher lows to extend the move towards 10,080, and then 10,150 zones, while on the downside support is seen at 9,980 then 9,950 levels.
8:53 AM
Technical calls by Prabhudas Lilladher
BUY CASTROL INDIA
CMP: Rs 367.95
TARGET: Rs 405
STOP LOSS: Rs 350
8:49 AM
Today's picks
Devangshu Datta on Nifty, Bank Nifty, Tata Steel, Bharti Airtel, and Bajaj Auto
8:28 AM
Kotak Securities on Engineers India
EIL management expects pickup in domestic order flows in 2HFY18-19 mainly driven by 1/ pick up in brownfield expansion of various small (sub 3mmtpa) refineries in India, 2/ integration of refineries with petrochemical units 3) awarding of Greenfield orders mainly Barmer Rajasthan and West Coast refinery and 4) other initiatives such as pipeline expansion by Gail and investment in strategic storage facilities by OMCs.
We reiterate our long term positive view on EIL; expect significant improvement in FY19 earnings driven by uptick in execution and margin expansion on back of operating leverage. We value EIL at PER 25x FY19 core earnings and maintain BUY rating with unchanged target price of Rs 182.
8:27 AM
8:14 AM
Nirmal Bang on Natco Pharma
We expect Copaxone generic approval to provide Natco Pharma (NPL) a strong foundation for base earnings over the next four to five years after which Revlimid generic opportunity will kick in and help build over this base. In the near term, the extraordinary cash flow on account of limited competition nature of the opportunity will strengthen its balance sheet for executing growth plan on a rising earning base. We see the risk-reward profile as positive. Mylan has announced that they might get 180 days exclusivity. However if the same is not granted, the launch timeline can get delayed up to FY19.
After this approval, we have incorporated Copaxone generic sales in our estimate, which we had earlier excluded from our core business estimate and valued it separately. We have also revised our target price on NPL to Rs1,102 (from Rs940 earlier), rolling over our target EPS from March FY19 to September FY19. We have assigned a target P/E multiple of 20x based on FY20 earnings. We have lowered our target valuation multiple from 22x to 20x as we expect the growth rate to taper on a rising earning base. We have upgraded our rating to Buy (from Accumulate earlier).
8:08 AM
MAS Financial Services Limited IPO subscribed overall 129.03x at 07.00 pm day 3 (October 10, 2017). Retail subscribed at 15.63x, QIB 149.31x, NII 381.02x and Employee 2.42x
8:03 AM
Asian markets
Asian shares rose on Wednesday, tracking Wall Street’s rally to all-time highs, while the euro hovered near a 10-day peak after Catalonia’s leader talked down immediate plans to secede from Spain, easing near-term concerns about euro zone instability.
MSCI’s broadest index of Asia-Pacific shares outside Japan nudged 0.24% higher to test a recent decade peak of 545.56. Australian stocks jumped 0.6% to one-month highs and New Zealand's index climbed to a record. South Korea's KOSPI added 0.3% to a 2-1/2 month peak.
8:03 AM
Wall Street up date
Wall Street hit fresh record intraday highs on Tuesday, helped by a jump in Wal-Mart and energy stocks, but the gains were limited by declines in Amazon and technology stocks.
The Dow Jones Industrial Average rose 0.31% to 22,830.68 points, a record-high close. It is up 15.5% in 2017. The S&P 500 gained 0.23% to 2,550.64 and the Nasdaq Composite added 0.11% to 6,587.25.
8:02 AM
Singapore Nifty
At 8:00 am, the SGX Nifty was trading at 10,074, up 31 points or 0.31%.
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First Published: Oct 11 2017 | 3:32 PM IST