MARKET WRAP: Sensex ends 187 pts up, reclaims 34,000 mark; Airtel rises 10%

Among the sectoral indices, Nifty Financial Service index settled 1.4 per cent higher led by Bajaj Finance and IIFL.

8:50 AM

Top trading ideas by HDFC Securities

 

BUY BEL

CMP: Rs 87

Target: Rs 95

Stop loss: Rs 82

 

After a sharp price correction till the month of September, accumulation is visible in the month of October, where the stock price rose more than 15% from the September low with a rise in volumes. Stock has given the breakout on the daily chart yesterday by closing above its 5 day simple moving average with higher volumes. Momentum Indicators and Oscillators are indicating strength in the stock for the short to medium term. We recommend Buying BEL for the upside target of 95, keeping SL at 82. Read more

8:45 AM

Today's picks

 

Sun Pharma

Current price: Rs 575

Target price: Rs 585

 

Keep a stop at Rs 570 and go long. Add to the position between Rs 582 and Rs 584. Book profits at Rs 585.

 

Tata Motors

Current price: Rs 171

Target price: Rs 176

 

Keep a stop at Rs 169 and go long. Add to the position between Rs 174 and Rs 175. Book profits at Rs 176. Read more

8:40 AM

Nifty outlook by HDFC Securities

 

Nifty has formed Doji pattern yesterday which Indicates indecision between bulls and bears and considered as a sign of possible reversal of price direction. For confirmation of the pattern, Nifty should close above Monday’s high i.e. 10,250 level. Click here to read more

8:35 AM

Oil check

 

Brent crude futures traded at $76.53 per barrel after dropping more than 4 percent on Tuesday to $75.88, their lowest since Sept. 7.

 

Crude slid after Saudi Arabia said it could supply more crude quickly if needed, easing concerns ahead of U.S. sanctions on Iran. The recent sell-off in global equities has also raised worries about slowing growth curbing demand for crude.

8:30 AM

SGX Nifty

 

Trends on SGX Nifty indicate a positive opening for the broader index in India, a gain of 55 points or 0.54 per cent. Nifty futures were trading around 10,227- level on the Singaporean Exchange.

8:25 AM

Asia stocks edge up as Wall Street shows resilience

 

Asian stocks edged lower on Wednesday as concerns, ranging from worries about US corporate earnings to Middle East tensions, weighed on sentiment while crude oil approached two-month lows after Saudi Arabia flagged possible supply increases.

 

MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.2 per cent, extending the decline of more than 2 per cent in the previous session.

8:20 AM

Wall Street extends recent fall but ends well off day's lows

 

US stocks fell on Tuesday after worries about the earnings outlook added to recent selling pressure, though major indexes ended well off the day’s lows as investors snapped up beaten-down shares late in the session. Along with worries over profit growth, concerns over the upcoming US mid-term elections and Italy’s budget have also sent investors scrambling out of stocks.

 

The Dow Jones Industrial Average fell 125.98 points, or 0.5 per cent, to 25,191.43, the S&P 500 lost 15.19 points, or 0.55 per cent, to 2,740.69 and the Nasdaq Composite dropped 31.09 points, or 0.42 per cent, to 7,437.54.

8:15 AM

Good morning!

 

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