Closing Bell
The BSE benchmark Sensex ended 275 points lower following weak global cues amid fresh foreign fund outflows.
The 30-share Sensex lost 274.71 points, or 0.77 per cent, at 35,199.80 points. The gauge had lost 300.37 points yesterday.
Sectoral indices led by IT, teck, metal, capital goods and power ended in the negative zone with losses up to 2.90 per cent. The BSE IT index fell nearly 3 per cent at 13,457.03.
The NSE Nifty too ended lower by 56.15 points, or 0.53 per cent, at 10,600.05.
Brokers said a weak trend in other Asian markets following extended rout at Wall Street on Tuesday on disappointing earnings amid fears over slowing global growth on US-China trade dispute and the steady rise in interest rates, dampened sentiment here.
However, crude oil prices dipping to one-year low in global market on supply concerns, capped the fall in the indices.
BSE SENSEX CHART
NEW 52 WEEK HIGH ON NSE
NEW 52 WEEK LOW ON NSE
NIFTY MIDCAP GAINERS
NIFTY NEXT 50 LOSERS
NIFTY NEXT 50 GAINERS
TOP LOSERS ON BSE
TOP GAINERS ON BSE
Markets witness pull-back
Markets staged a mild recoverty from the day's lows following fresh buying in banking, healthcare, PSUs and Auto stocks. The BSE Sensex was still trading in the negative, down by 187 points at 35,287.62 and the Nifty too was down 37 points at 10,619.
Minda Corp shares surge on equity revamp
Minda Corporation stock zoomed nearly 8 per cent to Rs 141.50 today after the company has said it entered into definitive agreements with its joint venture partner, Furukawa Group of Japan, for change in equity structure of Minda Furukawa Electric Private Limited (JVCO). As per the proposed realignment, the equity stake of joint-venture partner in the JVCO will change from 49% to 75% and stake of Minda Corporation Ltd. will change from existing 51% to 25%.
Healthy core: IndusInd Bank
Strong loan growth and steady asset quality have made IndusInd Bank a resilient performer
With public sector banks facing capital crunch and many non-banking finance companies weighed down by liquidity issues, leading private sector banks are ...
CLICK TO READ THE FULL ARTICLE
Maruti revv up on raising Brezza production
Maruti Suzuki India stock firmed up by 0.70% at Rs 7,384 on the NSE today after the company has said it increased production of Vitara Brezza to reduce waiting period of the model. The production was increased 10% to 94,000 units during April-October period of the current fiscal as compared with same period of 2017-18. Maruti had sold over 1,48,000 units of Vitara Brezza in FY18.
Markets correct
Indices witnessed a moderate pull back in the afternoon session. However, equities are still trading in the negative terrain only. The BSE Sensex was down by 238 points at 35,236.04 and the Nifty was down by 49 points at 10,607 today.
Short TCS on rallies with stiff tight loss
S1 | S2 | R1 | R2 | COMMENT |
1860 | 1840 | 1900 | 1920 | Utilise intra-day rallies to initiate fresh short positions with a stiff stop-loss at ₹1,900 levels |
PSU Banks post gains
Banking stocks made smart gains despite the overall weak trend today following positive news that RBI agreed at its board meeting last Monday to extend the deadline to March 31 so that lenders may further lift capital conservation buffers. The RBI estimates that banks will have capacity to lend an extra ₹2.5 trillion to ₹3.0 trillion (i.e $35 billion to $42 billion) over the next year.
NIFTY PSU BANK STOCKS
BSE BANKEX
Nifty 50 November Futures (10,600)
The Nifty 50 futures contract i s under pressure. After falling by about one per cent on Tuesday the contract has extended its downmove today as well. It has tumbled below the key support level of 10,670. The contract made a low of 10,577 and has managed to bounce back from the lows. It is currently trading at 10,600. The near-term view is mixed.
Nifty 50 Futures: Initiate fresh short with tight stop-loss below 10,620 levels
S1 | S2 | R1 | R2 | COMMENT |
10620 | 10570 | 10720 | 10775 | Consider initiating fresh short positions with a tight stop-loss if the contract falls below 10,620 levels |
Go short in SBI if falls below ₹276 levels
| S1 | S2 | R1 | R2 | COMMENT |
276 | 270 | 288 | 293 | Fresh short positions can be initiated with a tight stop-loss if the stock declines below ₹276 levels |
Initiate long in Reliance only if it reverses higher from ₹1,125 levels
₹1138 • Reliance Ind.
S1 | S2 | R1 | R2 | COMMENT |
1125 | 1110 | 1150 | 1165 | Initiate fresh long positions with a fixed stop-loss if the stock of RIL reverses higher from ₹1,125 levels |
Short ONGC with tight stop loss
S1 | S2 | R1 | R2 | COMMENT |
149 | 146 | 156 | 159 | Fresh short positions can be initiated with a stiff stop-loss if the stock fails to move beyond ₹156 levels |
Near-term bearish for Infy
₹641 • Infosys
S1 | S2 | R1 | R2 | COMMENT |
630 | 620 | 650 | 660 | Near-term stance is bearish for the stock of Infosys. Make use of intra-day rallies to sell the stock |
12.05 pm
Initiate long position in ITC with tight stop loss
S1 | S2 | R1 | R2 | COMMENT |
280 | 277 | 286 | 289 | Fresh long positions can be initiated with a tight stop-loss if the stock of ITC reverses higher from ₹280 levels |
The stock of Sobha Ltd fell nearly 2 per cent today after it said post-IL&FS, cost of funds has risen and this has impacted new home loans as NBFCs had been taking a more aggressive stance than banks in their disbursal. The company’s MD and Vice-Chairman JC Sharma spoke to The HinduBusinessline about the increased cost of funds in the post-IL&FS scenario, how the firm’s backward integration model is helping improve margins, and why Mumbai remains a dream market.
Read the INTERVIEW WITH MD and Vice-Chairman JC Sharma
Nifty Pharma Stocks
Nifty FMCG Stocks
Nifty Auto Stocks
Aviation, Oil marketing stocks climb
Shares of aviation and oil marketing companies surged due to sharp drop of nearly 7 per cent in global crude oil prices.
Shares of Jet Airways , InterGlobe and Spicejet were trading higher up to 6.59 per cent.
Shares of state-run oil marketing companies such as BPCL , IOC and HPCL gained up to 4.21 per cent.
Sensex drops on weak global trend
The BSE benchmark Sensex fell over 300 points in early trade ON Wednesday following weak global cues amid fresh foreign fund outflows.
The 30-share was trading 309.24 points, or 0.89 per cent, lower at 35,158.36 points. The gauge had lost 300.37 points yesterday.
Sectoral indices led by IT, teck, metal, capital goods and power were trading in the negative zone with losses up to 2.70 per cent.
The NSE Nifty too was trading 80 points, or 0.75 per cent, down at 10,576.05.
Brokers said a weak trend in other Asian markets following extended rout at Wall Street on Tuesday on disappointing earnings amid fears over slowing global growth on US-China trade dispute and the steady rise in interest rates, dampened sentiment here.
However, crude oil prices dipping to one-year low in global market on supply concerns, capped the fall in the indices.
Yes Bank shares up sharpy
Shares of Yes Bank has risen as much as 3.3 per cent to ₹ 198.5 on Wednesday. Private-sector lender said late on Tuesday recent resignations bear no impact on the new MD & CEO selection process; and added that the selection process is on track
Infosys hits 5-month low; chart suggests further down
Shares of software services exporter Infosys on Wednesday fell as much as 2.99 per cent to ₹ 622.20, its lowest since June 22. The stock breached below its 200-day exponential moving average, which is a bearish sign.
Dr Reddy's scrip zooms 8% on US court ruling
The shares of Dr Reddy's Laboratories surged as much as 8.7 per cent to ₹2,655 on Wednesday, their highest since Sept. 26.
A U.S. appeals court on Tuesday allowed the generic drugmaker to sell a copycat version of its rival Indivior Plc's opioid treatment Suboxone Film.
Indo Count Industries stock was trading marginally higher after the company said that workers at its spinning unit at Gokul Shirgaon, Kolhapur, Maharashtra, have resumed work from November 19 ‘unconditionally’. The workers were on strike from the evening of November 4 demanding higher bonus.
Company news: Indo Count Industries
Public sector banks post gains
PSU banking stocks were up marginally today aided by Oriental Bank , Indian Bank , Bank of Baroda , SBI and Union Bank . The Nifty PSU index was traded higher by 19 points or 0.70% at 2,943.20.
RBI’s relief on capital will benefit only a few PSU banks
Oil & Gas stocks up over 1% on strong crude
Oil & Gas stocks bucked the weak trend in overall markets after crude Oil prices recovered some of the previous day's over 6 percent plunge, mainly lifted by a report of an unexpected decline in U.S. commercial crude inventories as well as record Indian crude imports.
Crude oil prices rise after 6% plunge, but market on edge
BSE IT index sheds 2%
The BSE IT index were down today by nearly 300 points or 2.14% to 13,565.07 on. Shares of IT companies fell between 1.50% and 4 per cent on a stronger rupee and also aided by weak US markets.
The scrip of L&T Infotech dropped 4.75 per cent, Infosys declined 2.36 per cent and TCS 2.05 per cent on NSE. Also, Tech Mahindra shares fell by 2.80 per cent, HCL Technologies 2.20 per cent and Mind Tree declined 2.40%
Nestle up as CEO lays stress on organic growth
Nestle India stock gained nearly 1% today after its parent company Nestle's CEO Mark Schneider said the Indian company has has showcased strong leadership and grew organically and going the company is interested in strong organic growth. Food and beverages major Nestle has been sharply focusing on renovating its product portfolio at a global level.
Nestle expects strong organic growth in India, open for inorganic growth opportunities
9.15 am
The 30-share Sensex declined 89 points, or 0.25 per cent, to 35,384.995. The barometer had lost 318 points yesterday.
Sectoral indices, such as metal and IT were down, while auto, oil and gas, consumer durables and healthcare, rose in the opening trades. Oil & Gas sector index rose by up to 2 per cent today.
The NSE Nifty too was down by 15 points, or 0,15 per cent, at 10,641.40.
Sensex marginally higher at pre-open trades
At the pre-open trade, the BSE Sensex was up 18 points at 35,492.62 and the Nifty too gained 14 points at 10,670.95.
Day Trading Guide For November 21
Given below are supports and resistances for Nifty 50 futures and seven key stocks that can help in your intra-day trading:
₹2015 • HDFC Bank
S1 | S2 | R1 | R2 | COMMENT |
2002 | 1990 | 2025 | 2040 | Initiate fresh short positions with a stiff stop-loss only if the stock falls below ₹2,002 levels |
₹641 • Infosys
S1 | S2 | R1 | R2 | COMMENT |
630 | 620 | 650 | 660 | Near-term stance is bearish for the stock of Infosys. Make use of intra-day rallies to sell the stock |
READ MORE ON THIS RECOMMENDATION
Today's Pick: Birla Cable (₹ 211.3): Buy
Breaching a key resistance at ₹200, the stock of Birla Cable surged 4.8 per cent accompanied with an above average volume on Tuesday. This rally gives an READ MORE ON THIS RECOMMENDATION
8.55 am
Wall Street sells off again as retail, energy struggle
U.S. stocks sold off for a second day on Tuesday as energy shares dropped with oil prices, and retailers including Target and Kohl's sank after weak earnings and forecasts, fuelling worries about economic growth. READ MORE
8.50 am
Asian stocks fell on Wednesday , weighed by a renewed bout of selling on Wall Street, and crude oil struggled after a sharp slide as economic growth concerns gripped global markets. The dollar stood tall, rallying from a two-week low, as the currency found safe-haven demand from heightened risk aversion.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.55 percent.