Market Watch

Traders’ Diary: Nifty trading range at 10,800-11,250

Traders’ Diary: Nifty trading range at 10,800-11,250
Nifty rallied for a fifth straight session and closed 32.65 points higher at 11,035, while the 30-share Sensex extended its rally into a third day, settling 125 points up at 37,270.
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08:42 PMShare

FPIs turn buyers for first time in September

On Wednesday, FPIs bought Rs 266.89 crore worth of stocks while Domestic Institutional Investors bought Rs 1,132.42 crore worth. However, the outflow had steadily declined from Rs 2,016.20 crore at the start of the month, down to Rs 188.08 crore on September 9.
08:42 PMShare

Trade optimism, Apple push Wall Street slightly higher

US stocks rose slightly on Wednesday as China's move to ease trade tensions with the United States soothed investor nerves, while shares of Apple gained a day after the launch of its latest iPhones. Apple Inc rose 1.79% and provided the biggest boost to all three major indexes, a day after it unveiled new iPhones and rolled out a streaming TV service at a price that undercuts Disney and Netflix.
07:57 PMShare

YES Bank stock rallies 13% amid stake sale buzz: What's brewing there?

Shares of YES Bank rallied over 13 per cent on Wednesday amid stake sale rumours in the market. The first report stated that digital payments major Paytm is in talks to buy a stake in the private sector lender from co-founder Rana Kapoor. Kapoor neither confirmed nor denied. “As you understand this is extremely market sensitive,” he told ET in a WhatsApp message when reached for a comment.
07:46 PM

ETMarkets Evening Podcast: Can midcaps and smallcaps extend rally?

ETMarkets Evening Podcast: Can midcaps and smallcaps extend rally?
05:57 PM

The narrow range should be a cause of concern, as Nifty failed to sustain above its key resistance point at 11,042 on a closing basis. The pressure may get intensified if the index trades below 11,011 level for at least first 30 minutes of trade on Thursday

- Mazhar Mohammad,
05:16 PM

Nifty witnessed a muted session with a relatively small range as it is seeing a lot of resistance in the area of 11050 - 11100. This has been one of the key resistance zones for the last few weeks which bulls haven't been able to take out. Derivatives data point to huge activity at 11,000 strikes on the Put front, making it a point of control for the next trading session. The overall concentration indicates the range to be 11,200-10,800. We believe a close above 11,100 should trigger a short-covering that can drive market further. One should be cautious on the shorts side. A break above 11,100 would likely be seen with an increase in volatility

- Mustafa Nadeem, CEO, Epic Research
05:06 PMShare

Opec cuts 2020 oil demand forecast, urges effort to avert new glut

Opec on Wednesday cut its forecast for growth in world oil demand in 2020 due to an economic slowdown, an outlook the producer group said highlighted the need for ongoing efforts to prevent a new glut of crude. In a monthly report, the Organization of the Petroleum Exporting Countries cut its forecast for global oil demand growth next year by 60,000 barrels per day (bpd) to 1.08 million bpd and indicated the market would be in surplus.
05:06 PMShare

Trump wants Fed to cut interest rates to 'zero, or less'

President Donald Trump wants US "interest rates down to ZERO, or less," he tweeted Wednesday amid widespread expectations that the Federal Reserve will cut rates later this month. "We should then start to refinance our debt. INTEREST COST COULD BE BROUGHT WAY DOWN, while at the same time substantially lengthening the term," he added.
05:03 PMShare

Hong Kong Exchanges bids $39 billion to take over London Stock Exchange

Hong Kong Exchanges and Clearing has made an unsolicited $39 billion takeover bid for the London Stock Exchange, an offer contingent on the LSE ditching its acquisition of data company Refinitiv. The combination would help both exchanges compete better with rivals like ICE and CME from the United States. The LSE has long sought to bolster its presence in Asia and recently launched a link scheme with HKEX competitor Shanghai.
04:59 PM

We expect the market to remain rangebound in the near term. Barring macro data (CPI, IIP) this week, there are no key domestic triggers. We believe global factors such as US-China trade war development, Brexit etc will provide direction to the market. Also, ECB meet scheduled for tomorrow and a likely rate cut by the Federal Reserve in its mid-September meeting will have a bearing on the markets going forward

- Ajit Mishra Vice President, Research, Religare Broking
04:57 PM

Breadth indicators such as advance-decline ratio, on balance volume etc, were extremely positive for the broader market. Advance decline ratio was at 3:1, which is best in the last five days. However, A/D ratio for Nifty was at 1:1 that could trigger short term weakness. Strong market may open above 11,050 and rally further on Thursday. On the other hand, weak market might retest 10,900. Doji candlestick formation at the top of the current up move could pause and shift the sentiment in the short term

- Shrikant Chouhan, Senior Vice-President, Equity Technical Research, Kotak Securities
04:48 PM

Nifty has been making higher highs and lows for last four sessions and supports are shifting higher gradually. However, it traded the session with a positive bias but remained in a range of 40 points and formed a Small Bodied Candle similar to a Spinning Top on the daily scale. Now, it has to hold the formation of higher highs and lows and only then can it head towards the next hurdle at 11,111 and then 11,141 levels, while on the downside supports are seen at 10,950 and then 10,929 levels

- Chandan Taparia, Technical & Derivative Analyst, MOFSL
04:32 PM

Nifty continues to consolidate in the range of 10,650-11,200 since the past few weeks. Broader market health has turned positive as the market has taken support at a critical level. We believe the markets are attempting to make a reversal for 11,700-12,100 on the higher side and support of 10,650 on the lower side. Metal stocks have shown early signs of bottoming while some selling pressure is seen in the defensive space

- Sahaj Agarwal, Head of Derivatives, Kotak Securities
03:34 PM

CLOSING BELL: Nifty takes winning run to 5th day, ends at 11,033; RIL, auto stocks lift Sensex by 125 pts

CLOSING BELL: Nifty takes winning run to 5th day, ends at 11,033; RIL, auto stocks lift Sensex by 125 pts
03:21 PM

Valuation tweak may hurt your debt fund returns, and how!

Valuation tweak may hurt your debt fund returns, and how!
03:20 PM

Top 5 NSE gainers

03:17 PM

Top 5 NSE losers

02:20 PM

Azim Premji, promoter group entities sold 22.46 crore shares worth Rs 7,300 crore during Wipro buyback

01:52 PM

ONGC considers buying out rest of petrochemical project

India's Oil and Natural Gas Corp Ltd plans to buy out the rest of a western Indian petrochemical project it does not already own and launch a public offering if it fails to find a strategic partner for it, its head of finance said on Tuesday.

ONGC Petro additions Ltd (OPaL), majority-owned by ONGC, is primarily a polymer manufacturer, a chemical compound used in everything from textiles to plastics and packaging.
01:42 PM

Cement stocks rally on FM comments, hopes of GST rate cut

Cement stocks rallied on Wednesday on the back of Finance Minister Nirmala Sitharaman’s comments that the government will frontload expenditure on infrastructure.

Sitharaman on Tuesday said that the government will frontload infrastructure spending in a bid to give the economy a boost and announce one or two more sets of stimulus measures aimed at reviving growth in the coming quarters.

Moreover, hopes of rate cuts for the industry at the upcoming GST council meet also gave cement stocks a leg up.

Shares of Anjani Portland Cement rose over 10 per cent, while those of India Cements, Indian Hume Pipe, Sainik Finance & Industries, Andhra Cements gained over 5 per cent each. Shares of Orient Cement, Everest Industries, Sahyadri Industries, KCP climbed 4 per cent each.
01:05 PM

Working on scrappage policy of two-wheelers as well

- Nitin Gadkari
01:03 PM

ONGC to invest Rs 13,000 crore in Assam to drill over 220 wells

12:38 PM

Japan stocks up for seventh trading session on rising yields, falling yen

Japanese stocks rose to a six-week high as bank shares extended recent gains thanks to rising bond yields, while major exporters reaped the rewards of a faltering yen.
12:21 PMShare

Yearlong debt crisis hits plans for bigger India bond market

Sales of rupee bonds rated below AAA have halved so far this year to 699 billion rupees ($9.7 billion) as a wave of debt defaults and a funding crunch in the shadow banking sector make investors reluctant to buy riskier notes. Banks, who are major players in the primary market, are now mostly interested in providing backing for sales of quasi-sovereign and top-rated issuers, Bloomberg-compiled data show.
12:00 PM

I continue to be cautious, rather, I have not yet seen any sign of recovery. The numbers which are being projected on the economy continue to be bad. We have seen auto numbers down 50%. I have not seen this in my last 25 years of career.

- Nischal Maheshwari, CEO- Institutional Equities, Centrum Broking.
11:50 AMShare

Maruti, Hero MotoCorp, MCX among 76 stocks ready to rally, shows MACD

On the technical charts, some 76 largecap and midcap stocks showed bullish trade setups. These stocks might head higher in the coming days, if one were to go by the moving average convergence divergence or MACD. The list included auto stocks Maruti Suzuki and Hero MotoCorp and aviation stock InterGlobe Aviation, besides Godrej Consumer Products (GCPL), Adani Power, MCX, Edelweiss Financial Services, Graphite India, Shriram Transport, Rallis India, Strides Pharma and Avenue Supermarts, among others.
11:31 AM

Power Mech bags orders worth Rs 275 crore

11:00 AM

We are very positive on the festive season, we think the return of the consumer is imminent and globally we think that risk on trade is back. US bond yields have spurted sharply which tells you that risk-on trade is back globally. Sticking my neck out, I would say this Diwali closer to 12,000 would be my key, which means almost a 1,000-point rally in the next two months.

- Sanjiv Bhasin
10:55 AM

Olectra Greentech gains 4% on electric passenger vehicle plan

Shares of Olectra Greentech gained over 4 per cent after ET reported that the smallcap company and its Chinese technical partner BYD, the world’s largest maker of electric vehicles, are in talks for a possible collaboration on the latter’s plan to venture into India’s electric passenger vehicles and vans segment.
10:31 AM

Market Mood Index

10:12 AMShare

4 stock recommendations by CLSA

Too early and too expensive to call for a stock bottom; reiterate SELL
Truck slowdown intensifying; we see risk of an elongated downcycle
Too early and too expensive to call for a stock bottom
Cut FY20-21CL EPS by 11-25% and reiterate SELL
Target price reduced from Rs50 to Rs40/share

Poor execution despite early focus, investments and large acquisitions
Deal wins and acquisitions to accelerate DX capabilities
Reiterates SELL; will remain at the bottom of peer growth range
Significant gap with peers in holding on to market share in legacy IT
Has won large digital deals in areas of cloud transformation, cloud modernisation, cloud hosting
Maintains Sell target at 220/share

Macro tough with scope for market share gains
Independence for underwriting team can mitigate asset quality risks
Three levers to targeted ROE of 18%; BUY stays
Expects a turnaround in earnings from FY20 onwards
Maintains our BUY rating and Rs900 target price

Exploiting DX to expand addressable market and increase relevance
BUY for industry-leading growth and quality
Digital driving overall growth
Deal wins in cloud across verticals
Reiterates Buy target at 2570/share
09:44 AM

YES Bank, ICICI Lombard, Tata Motors among most active stocks on NSE

09:35 AM

ICICI Lombard shares fall 4% as 2.7% equity changes hands in block deal

ICICI Lombard shares fall 4% as 2.7% equity changes hands in block deal
09:18 AM

OPENING BELL: Sensex gains 100 pts, Nifty stays above 11,000; YES Bank, Tata Motors jump 4% each

OPENING BELL: Sensex gains 100 pts, Nifty stays above 11,000; YES Bank, Tata Motors jump 4% each
09:10 AM

Pre-open session: Sensex rises 100 points, Nifty above 11,000

Sensex rises 100 points, Nifty above 11,000; rupee trades at 71.84 against US dollar
08:57 AM

Podcast: Let's talk business & markets

Podcast: Let's talk business & markets
08:40 AM

Singapore trading sets stage for positive start

Nifty futures on the Singapore Exchange were trading 49 points, or 0.45 per cent, higher at 11,020, indicating a positive for Dalal Street.
08:40 AM

Tech view: Nifty forms small bullish candle

Logging gains for the fourth session in a row, Nifty50 on Monday topped the 11,000 mark and formed a small bullish candle on the daily chart. Analysts said the index might trend higher if it manages to take out the 11,042 level decisively. The 10,900 level may pose a strong support to the index, they said.
08:40 AM

Asian shares gain in early trade

Asian stock markets held firm and bond yields rose on Wednesday as hopes of diminishing US-China tensions and reduced risk of no-deal Brexit prompted investors to take profit in risk-off trade ahead of key central bank policy meetings. In early trade, MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.10 per cent while Japan's Nikkei rose 0.32 per cent.
08:39 AM

US stocks settled mixed

In overnight trade, US stocks closed mixed, as the market was pulled back by an overall retreating tech stock sector, led by losses of big corporate shares. The Dow Jones Industrial Average index gained 73.92 points, or 0.28 per cent, to 26,909.43. The S&P500 index added 0.96 points, or 0.03 per cent, to 2,979.39,
08:39 AM

Oil up as US crude stockpiles drop

Oil prices rose on Wednesday after an industry report showed that crude stockpiles in the US fell last week by more than twice the amount that analysts had forecast. Brent crude futures rose 43 cents, or 0.7%, to $62.81 a barrel
08:39 AM

DIIs buy Rs 686 crore worth equities

Net-net, foreign portfolio investors (FPIs) were sellers of domestic stocks to the tune of Rs 188 crore on Monday, data available with NSE suggested. DIIs were net buyers to the tune of Rs 686 crore, data suggests.
08:39 AM

FM to frontload infra spending to bolster economy

The government will frontload infrastructure spending in a bid to give the economy a boost and announce one or two more sets of stimulus measures aimed at reviving growth in the coming quarters, said finance minister Nirmala Sitharaman. The government has announced a series of measures in the past few weeks aimed at reviving the economy. Growth can be cyclical in nature, finance minister Sitharaman said.
08:38 AM

Stimulus bets rising globally

There are hopes that ECB will dole out stimulus this week, with a cut in interest rates of at least 10 basis points fully priced in, Reuters reported. The US Federal Reserve is also widely expected deliver an interest rate cut next week. Germany also signalled its readiness for relaxing its staunch opposition to deficit spending to support the economy, the report suggested.
08:38 AM

Call for Brexit referendum before UK election

Tom Watson, Labour's deputy leader, will call for the opposition party to demand a second Brexit referendum that should be held before a general election, the Independent newspaper reported.
08:38 AM

Asean agrees to review FTA with India

The Asean has agreed to India’s long-pending demand to review the FTA between the two sides. The exercise could help address India’s concerns that it has not benefitted from the agreement and its goods trade deficit with the 10-member grouping has widened. The trade gap was $22 billion in FY19, up from $13 billion in FY18. On Tuesday, the two sides agreed to “make it more user-friendly, simple and trade facilitative for businesses,” according to a joint statement.
08:37 AM

Mark-to-market valuation may hit debt funds

Investors in mutual fund debt plans, especially liquid schemes, may have to brace for more uncertainty with regard to returns as the Securities and Exchange Board of India may make it mandatory for these debt products to assign the latest market price to all their bond investments from April 1, reports ET. Currently, only debt papers with a maturity of over 30 days need to be valued on a mark-tomarket basis. Most fund houses value the rest of the papers based on amortisation.
08:36 AM

India Inc unlikely to delay festive bonus

India Inc is unlikely to curtail or delay payout of festival bonus to employees despite the slowdown, raising hope among consumer goods companies and retailers that the move might boost sentiment and drive up purchases in the festive season. Leading employers across sectors such as Hindustan Unilever, ITC, Godrej Group, Axis Bank, Future Group, Honda Motorcycle, Maruti Suzuki, RPG Group, Puma, Panasonic and Dixon Technologies are handing out bonuses to employees, reports ET.
08:36 AM

India, US in talks to iron out trade differences

India is in talks with the US for restoration of Generalised System of Preferences (GSP), mutual withdrawal of their disputes at the World Trade Organization and removal of higher tariffs on steel and aluminium by Washington, as the two sides work to resolve their bilateral trade differences. The two sides have been engaged in talks to iron out the differences, which began last year when the US levied global additional tariffs of 25% and 10% on the import of steel and aluminium products, respectively.
08:36 AM

Only 19% employers bullish on hiring next qtr

Only 19% of employers in the country have bullish hiring plans for the next three months, while 52% expect no change in their payrolls, says a global survey which predict softer employment outlook in many markets for the October-December quarter. According to the ManpowerGroup Employment Outlook survey released on Tuesday, that covered 5,131 employers across India. Despite the modest number, India is the fourth most optimistic nation about hiring plans for the next three months globally.
08:35 AM

New norms likely for BoT road projects

The government is planning to issue a set of guidelines for allocating road projects on Build-Operate-Transfer (BOT) basis that will ensure a certain level of preparedness before awarding projects as it looks to revive private investment in the sector. Apart from making changes in the concession agreement and exit clauses, the ministry of road transport and highways will firm up the guidelines to ensure risks are eliminated for project construction revival.
08:35 AM

Sensex on Monday

BSE benchmark Sensex settled at 37,145, up 164 points or 0.44 per cent while NSE Nifty ended 57 points or 0.52 per cent higher at 11,003. The BSE advance-decline ratio stood at 5:3, meaning a rise in every five stocks was followed by a fall in three stocks.
08:34 AM

Good Morning, dear reader! Here's something to kickstart your trading day

Good Morning, dear reader! Here's something to kickstart your trading day


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