MARKET WRAP: Sensex gains 370 pts, Nifty ends at 11,787; Adani Green up 18%

All that happened in markets today.

10:14 AM

Nifty at new high. Can the rally sustain?

Markets near all-time high: Nifty likely to top-out near 12,500 mark

With the Nifty50 index trading at its all-time high level, it has become a challenging task to predict the road ahead. Election – related uncertainty is adding to volatility. However, various technical theories have helped to identify a possible range. Fibonacci series and price extensions is one way to forecast a trend.

 

In technical analysis, a Fibonacci retracement is created by taking two extreme points (usually a major peak and trough) on a stock chart and dividing the vertical distance by the key Fibonacci ratios of 23.6%, 38.2%, 50%, 61.8% and 100% READ MORE HERE

10:11 AM

COMMENT :: Nomura on macro data

The combination of weak global and domestic demand should ease exports and core imports, and ameliorate current account deficit (CAD) pressures. However, higher oil prices are an upside risk– we estimate that every USD10/bbl rise expands CAD by ~0.4% of GDP.

Overall, we expect CAD to ease to 1.6% of GDP in Q1 from an elevated 2.5% in Q4, and average ~2% of GDP for the rest of 2019 versus 2.4% in 2018. The basic balance of payments (current account + net FDI) is likely to remain negative, but we expect the overall BoP to be fully funded via the more volatile portfolio flows.

10:02 AM

MARKET CHECK

9:58 AM

Opening losers on S&P BSE Sensex

COMPANY	PRICE(rs)	CHG(rs)	CHG(%)	VOLUME
REL. COMM.	2.31	-0.12	-4.94	3782410
JET AIRWAYS	254.90	-6.90	-2.64	215071
JOHNSON CON. HIT	1936.25	-46.10	-2.33	24
RAJESH EXPORTS	665.30	-10.10	-1.50	13638
OBEROI REALTY	585.10	-8.55	-1.44	2070

9:55 AM

Nifty Metal index is trading over 1% higher

9:53 AM

Opening gainers on BSE Sensex

COMPANY	PRICE(rs)	CHG(rs)	CHG(%)	VOLUME
SPICEJET	127.25	7.90	6.62	2616771
DEEPAK FERT.	146.45	7.95	5.74	63740
BANK OF MAHA	15.61	0.82	5.54	38377
PC JEWELLER	132.80	6.55	5.19	1250938
SUZLON ENERGY	7.60	0.27	3.68	578096

9:49 AM

ICICI Bank zooms almost 3%

9:45 AM

SpiceJet gains almost 7% after Co decides to expand fleet

9:44 AM

Most active stocks by volume (BSE500)

COMPANY	PRICE(rs)	CHG(rs)	CHG(%)	VOLUME
REL. COMM.	2.31	-0.12	-4.94	3529677
SPICEJET	125.40	6.05	5.07	1997295
PC JEWELLER	133.25	7.00	5.54	1090762
TATA MOTORS	230.35	-0.70	-0.30	415790
SUZLON ENERGY	7.51	0.18	2.46	410599

9:42 AM

NEWS ALERT | Nifty hits record high, crosses earlier level of 11,761

9:38 AM

Deepak Fertilizers adds almost 5.8% on start of commercial production in Dahej plant

9:36 AM

Jet Airways slides over 2.3% after lenders refuse to inject immediate funds

9:34 AM

Asian Paints rises almost 1.5%

9:33 AM

Rupee opens 7 paise lower at 69.49 against US dollar

The rupee opened 7 paise lower at 69.49 against the US dollar on Tuesday amid subdued Asian equities and fall in crude oil prices. The domestic unit declined by 25 paise to close at 69.42 on Monday as forex traders turned cautious in a holiday-truncated week.

9:30 AM

Wipro gains 0.6% ahead of Q4 results