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Closing Bell
The BSE benchmark Sensex climbed 645 points higher and ended above psychological 38,000 mark today led by rally in telecom, auto, banking, healthcare, finance and metal stocks.
Earlier, stock indices moved listlessly till the mid-session. Later, pick up in momentum was seen due to some sudden spurt in buying in equities coupled with short covering by traders that scaled the markets sharply higher.
The BSE benchmark Sensex gained 645.97 points and ended at 38,177.95, while the Nifty, on the NSE, rose 180.80 points to close at 11,307.20.
Heavyweights such as IndusInd Bank, Bharti Airtel, ICICI Bank, SBI, M&M, Kotak Bank, Tata Steel, HDFC Bank, Bajaj Finance and Asian Paints gained between 3 and 5.50 per cent today.
Top losers include YES Bank, Hero MotoCorp, HCL Tech, ITC, TCS and Infosys, which fell between 0.70% and 5.25%
Sobha on firm ground
Shares of Sobha gained 5.25 per cent today given the company’s quality of operations. The stock ended at Rs 455.80, up by Rs 24.45 or 5.67% on the NSE today.
The company has improved sales in a muted environment and healthy cash flows, while property demand seems to have moderated.
NIFTY BANK INDEX
Nifty Bank chart
Sobha jumps 5 per cent
Shares of Sobha gained 5.25 percent today given the company’s quality of operations.
The company has improved sales in a muted environment and healthy cash flows, while property demand seems to have moderated.
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Trading Call: Century Textiles & Industries (₹915)
Indian stocks on the path of a multi-year bullish phase, says AMP Capital
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Rupee table
Nifty 50 October Futures (11,185)
The Indian benchmarks are marginally up despite bearish cues across the globe. The US market declined by over 1 per cent and the Nikkei is trading 0.65 per cent lower. The Hang Seng too has dropped by .6 per cent today
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ADVANCES/DECLINES ON BSE
Indices witnessed sume sudden upmove that could be due to shortcovering by traders. Heavyweights IndusInd Bank, M&M, ICICI Bank, HDFC Bank saw spurt in their prices that aided the rallly.
The Sensex has gained 163 points at 37,694.89, while the Nifty rose 62.25 points at 11,188.85.
Stocks trade listless
Benchmark indices are trading listless amid selling seen in the select PSU bank, IT and pharma stocks.
The Sensex gained 34.32 points at 37,566.30, while the Nifty is up 15.45 points at 11,141.85.
Yes Bank , Titan Company, HCL Tech , Hero MotoCorp and Tata Motors are the top losers on the Nifty, while gainers include UltraTechCement , M&M , L&T , Cipla and Bharti Infratel.
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Effects of global slowdown more pronounced in India: IMF chief
The global economy is witnessing “synchronized slowdown”, which will result in slower growth for 90 per cent of the world this year, and the effect is even “more pronounced” in some of the largest emerging market economies like India, new IMF chief Kristalina Georgieva has warned.
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Maruti shares in slow drive to avoid bumps
Shares of Maruti Suzuki was traded flat today following a report that the company has reduced its production in September.
The stock was at Rs 6,632, up by Rs 2.15 from its yesterda's closing price.
Reeling under a prolonged slowdown, Maruti Suzuki India (MSI) reduced its production by 17.48% in September, making it the eighth straight month when the country's largest car maker lowered its output. The company produced a total of 1,32,199 units in September as against 1,60,219 units in the year-ago month.
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Will the corporates show better earnings in their September quarter results
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Corporate tax stimulus may not add up to ₹1,45,000 crore
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Rupee slips 20 paise to 71.22 vs USD in early trade
The Indian rupee opened on a cautious note and fell 20 paise to 71.22 against the United States (US) dollar in early trade on Wednesday tracking subdued opening in domestic equities and foreign fund outflows.
At the interbank foreign exchange the rupee opened at 71.19.
Indiabulls Real Estate in 5% upper lock
Shares of Indiabulls Real Estate were locked in 5 per cent upper circuit at Rs 43.10 today ahead of a board meeting to consider share buyback.
There were pending buy orders of 1,69,3211 shares, with no sellers available on the BSE at 10.30 am.
Indiabulls Real has informed exchanges that the meeting of the board of directors will be held on October 11 to consider the proposal of buyback of equity shares of the company
Recently, Indiabulls sold its stake in some of its office assets in Gurugram and central Mumbai to Blackstone for Rs 2,717 crore. the Blackstone Group is set to take full control over Indiabulls Real Estate's commercial office portfolio.
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Indiabulls Housing slopes downwards
A break-out at ₹600 will bring back bullish momentum and take the stock up to ₹810Titan shares slip 5%
Shares of Titan Ltd fell sharply in the morning session today. The stock declined 5.25% or Rs 65.75, to Rs 1,193.25 on the NSE. Volumes traded in the counter were to the extent of 35.78 lakh shares on the NSE.
Though Titan's second quarter jewellery retail sales grow 7%, the company's revenues as per financials declined 2% YoY substantially due to the adverse impact of the hedges matured during the quarter.
Stock Futures OI based on Oct 8, 2019 trades.
Source: YES Securities
Mid-cap Gainers on BSE
MIDCAP GAINERS ON BSE on Oct 9 at 10 a.m
MID-CAP STOCK ON THE NSE
Mid-cap stocks on NSE on Oct 9, 2019 at 9.55 am
Oil prices extend decline as prospects for US-China trade deal dim
Oil prices slipped for a third consecutive session on Wednesday as the prospect of the US and China striking a trade deal in talks this week dimmed, raising uncertainties for global economic growth and oil demand.
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The BSE benchmark Sensex rebounded slightly after opening lower.
At 9.30 am, the Sensex was being quoted at 37,585.47, up 53.49 points over its previous close.
The NSE Nifty was at 11,139.25, up by 12.85 points over its previous close.
Opening Bell
Stock market indices were down marginally at open taking cues from other Asian markets. Equity indices across Asia including Nikkei, Hang Seng and Shanghai are down nearly 0.70 per cent in the morning trade.
The BSE benchmark Sensex edged lower at 37,526.39, down by 12 points from its previous close.
The NSE Nifty was at 11,118.80, down by 7.60 points from its previous close.
Day Trading Guide for October 9, 2019
Given below are supports and resistances for Nifty 50 futures and seven key stocks that can help in your intra-day trading: Find out in Portfolio for stocks such as HDFC Bank, ITC, Infosys, Nifty 50, Reliance, SBI and others
Adani Enterprises (₹135.6): Sell
Investors with a short-term perspective can sell the stock of Adani Enterprises at current levels.
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Asian stocks slide on signs of prolonged US-China stand-off
Asian stocks fell the most in a week on Wednesday as the US and China's broadening dispute over trade and foreign policy showed little sign of coming to an end, weighing on global economic growth.
MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.44 per cent. Chinese shares fell 0.47 per cent after briefly touching a five-week low. Australian shares were down 0.76 per cent.
Asia ex-Japan stocks headed for third weekly decline.
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