Sensex ends Samvat 2073 with 17% gain, Nifty up 18%

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9:03 AM

Emkay Global on Wipro Q2 earnings

 

Q2FY18 performance was broadly inline on operating basis. The revenues grew by 0.3% in CC terms below our estimates but commentary turns confident on improved performance going forward as indicated from Q3 guidance of 1% (midpoint growth) despite seasonality and at par performance outlook by Q4FY18.

 

Guidance for Q3 is modest (0% to 2% qoq growth) and do not enthuse much confidence even if it achieves mid-point of the band. Also given that lower band suggest no growth we believe its outlook for recovery by Q4FY18 run rate appears more aspirational than natural-traction driven base.

 

We largely retain our earnings estimates for FY19/20 as better OPM performance got negated by lower CC growth performance.  We believe the OPM performance may see further impact as Fx realisations normalize to current rate.

9:02 AM

Technical picks by Prabhudas Lilladher

 

BUY BANK OF BARODA      

 

CMP: Rs 139.15     

TARGET: Rs 152       

STOP LOSS: Rs 132

 

CLICK HERE FOR MORE

8:56 AM

Nifty outlook by HDFC Securities 

 

Nifty has surpassed the crucial resistance of 10,178 and registered a new all-time high above 10,250. Peak and Trough, Moving averages and Momentum Oscillators all are indicating bullish trend for the Nifty. We maintain our bullish view on Nifty with potential upside target of 10,540 in the coming weeks. Short-term support for the Nifty is seen at 10,100 and long should be protected with that stoploss.

8:55 AM

Today's Picks

 

Devangshu Datta on Nifty, Bank Nifty, Axis Bank, BPCL, Infosys

 

CLICK HERE FOR DETAILS

8:52 AM

Wall Street on Tuesday

 

The Dow Jones Industrial Average briefly broke above the 23,000-point mark for the first time on Tuesday, driven by strong earnings from UnitedHealth and Johnson & Johnson, but finished the session just below that milestone.

 

The Dow Jones Industrial Average rose 40.48 points, or 0.18% to end at 22,997.44, a record closing high. It rose as high as 23,002.20 during the session. The S&P 500 gained 1.72 points, or 0.07% to 2,559.36, also a record high close. The Nasdaq Composite dipped 0.35 point, or 0.01% to 6,623.66.

8:51 AM

Asian markets

Asian shares consolidated recent gains as investors waited to see what policies might emerge from China’s Communist Party conference. The blue-chip CSI300 index was up 0.3%, while Shanghai stocks added 0.1%. Recent economic data from the Asian giant has been generally upbeat, fuelling a tide of optimism about global growth that has benefited shares across the region.

 

MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.1% near their highest since late 2007, while Australia rose 0.2%. Japan’s Nikkei added 0.1%, and was trying to string together a 12th straight session of gains.

8:49 AM

Singapore Nifty indicates negative start 

At 8:47 am, SGX Nifty was trading at 10,227, down 34 points or 0.34%. 

8:47 AM

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