MARKET WRAP: Sensex slips 79 pts, Nifty ends at 10,585; IT stocks weigh

The Nifty IT index fell 0.8 per cent weighed by Infosys and Tata Consultancy Services (TCS) and the Nifty Metal index slipped 0.9 per cent due to a decline in NMDC

9:31 AM

Looking for value in the new Samvat? Here are the top large-cap picks

 

After a stellar Samvat 2073 that saw most indices rise by over 20 per cent, the past year or Samvat 2074 has not been as rewarding. Barring the large-cap indices S&P BSE Sensex and Nifty50, many others ended in the red. If last year was about toning down investor expectations, for Samvat 2075 brokerages, while being cautious, see pockets of value emerge across sectors. Read more

9:24 AM

MARKET COMMENT Chris Wood of CLSA

The US mid-term elections have come out more or less as expected. But despite the House of Representatives narrowly being captured by the Democrats this is not a “blue wave” for the Democrats since the Republicans did better than expected in the Senate. From a market standpoint GREED & fear would view the results as a marginal positive since Trump’s position has not been too weakened, though there will doubtless be a lot of impeachment noise.
 

Newsflow over the past week has revived hopes that GREED & fear’s base case will end up prevailing, namely that Donald Trump will end up doing a trade deal with China before the next round of tariff hikes. The main development was Donald Trump’s tweet last Thursday when he stated that he had a discussion with Chinese President Xi Jinping on trade issues and North Korea. This further supports GREED & fear’s base case, namely that Trump will also end up doing a deal with North Korea.

Christopher Wood, Managing Director & Equity Strategist, CLSA

 

9:24 AM

Bharti Airtel slips as Moody's Investors Service placed it's rating on review

9:19 AM

Sectoral trend on NSE

9:18 AM

Opening gainers and losers in BSE Sensex

9:16 AM

Market at open

 

At 9:15 AM, the S&P BSE Sensex was trading at 35,090, down 147 points while the broader Nifty50 was ruling at 10,570, down 28 points.

9:02 AM

Market pre-open

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	35,261.21	+23.53	+0.07
S&P BSE SENSEX 50	11,096.76	+17.94	+0.16
S&P BSE SENSEX Next 50	32,247.95	+170.30	+0.53
S&P BSE 100	10,897.26	+23.68	+0.22
S&P BSE Bharat 22 Index	3,483.15	+15.98	+0.46

9:01 AM

Rupee opening

Rupee opens firm at 72.70/$ vs its previous close of 73 per US dollar

8:55 AM

Fortis Healthcare, Bharti Airtel and Titan among top stocks to track today

 

US Fed outcome, rupee movement, crude oil prices and other global factors are likely to be the key triggers for the domestic market on Friday. Stock markets were closed on Wednesday and Thursday for 'Diwali Laxmi Pujan' and 'Diwali Balipratipada'. The benchmark indices on Wednesday rallied to their best Muhurat trade session gains in 10 years, settling over 0.5 per cent higher in the Muhurat session of Samvat 2075. Click here to read more

 

8:50 AM

MUHURAT TRADING WRAP: Sensex up 246 points; best Muhurat-day gain in 10 yrs

 

The benchmark indices rallied to their best Muhurat trade session gains in 10 years, settling over 0.5 per cent higher in the Muhurat session of Samvat 2075 led by a rise in automobile stocks and information technology (IT) stocks. The S&P BSE Sensex had gained 5.86 per cent in Muhurat trades on October 28, 2008 (Samvat 2065). The S&P BSE Sensex ended at 35,238, up 246 points (0.70 per cent) and the Nifty 50 index rose 68 points (0.65 per cent) to settle at 10,598 levels. Read more

8:45 AM

Oil check

 

Oil markets on Friday remained weak as rising supply and concerns of an economic slowdown pressured prices, with US crude now down by 20 per cent since early October.

 

US West Texas Intermediate (WTI) crude oil futures were at $61.63 per barrel, down 4 cents from their last settlement. Front-month Brent crude oil futures LCOc1 were at $70.79 a barrel, 14 cents above their last close.

8:40 AM

Rupee check

 

The rupee rebounded by 12 paise to end at 73 per US dollar on Tuesday on increased selling of the greenback by exporters and softening crude oil prices. 

8:34 AM

SGX Nifty

 

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 29 points or 0.27 per cent. Nifty futures were trading around 10,587-level on the Singaporean Exchange.

8:28 AM

Asia stocks sag as Fed tempers Wall Street rally, dollar firm

 

Asian stocks dipped on Friday as Wall Street took a breather after the Federal Reserve kept intact its plans to continue raising interest rates at a gradual pace, with a fourth hike for this year expected next month, according to a Reuters report.

MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.06 per cent. The index was still headed for a sizable gain of more than 6 percent this week, during which it rose to a one-month high.

 

Australian stocks were flat, South Korea's KOSPI edged up 0.2 per cent and Japan's Nikkei fell 0.2 per cent.

8:22 AM

Wall Street falls after Fed statement, energy shares tumble

 

The S&P 500 and Nasdaq closed slightly lower on Thursday after a Federal Reserve statement, and energy stocks were the biggest drag on the S&P as US crude oil prices fell. The Dow Jones Industrial Average rose 10.92 points, or 0.04 per cent, to 26,191.22, the S&P 500 lost 7.06 points, or 0.25 per cent, to 2,806.83 and the Nasdaq Composite dropped 39.87 points, or 0.53 per cent, to 7,530.89.