Global markets
The MSCI All-Country World index, which tracks stocks in 47 countries, was up 0.2 per cent in the European morning but down 1.3 per cent on the week, its worst weekly showing since mid-March.
The Sensex rebounded over 257 points, while the NSE Nifty crossed the 10,800-mark in a volatile trade today, with institutional investors lending crucial support.
Domestic sentiment was buoyed after data showed that foreign portfolio investors, who had been net sellers for the past several sessions, were back to buying mode on the domestic bourses yesterday.
As per provisional data, FPIs had bought shares worth Rs 1,126.75 crore, while domestic institutional investors picked up equities to the tune of Rs 663.57 crore yesterday.
The Sensex, after opening on a weak note, slipped further to the day’s low of 35,344.49, but staged a strong comeback in the latter part of the day. It finally closed higher by 257.21 points, or 0.73 per cent, at 35,689.60.
Sensex gainers, losers
The NSE Nifty, after shuttling between 10,710.45 and 10,837, ended at 10,821.85, up 80.75 points, or 0.75 per cent.
Barring oil & gas, realty and IT, all other BSE sectoral indices ended in the positive zone.
Both the Sensex and Nifty posted fifth straight weekly gains, rising 67.46 points, or 0.19 per cent, and 4.15 points, or 0.04 per cent, respectively.
Moody’s Investors Service has assigned a Baa3 long-term issuer rating with stable outlook to global steel giant ArcelorMittal. The upgrade reflects Moody’s expectation that the company will maintain a strong operating performance and will continue to reduce its leverage. Click here to read more
Emami’s subsidiary has invested $5.65 lakh (approx Rs 3.80 crore) in the US-based organic personal care firm Loli Beauty Inc. Emami said an investment agreement with the investee company and its existing shareholders has been executed. More on this
Crude oil jumps over 1%
Oil prices rose more than 1 per cent on Friday as OPEC tried to agree for a deal to increase output to compensate for the losses in production at a time of rising global demand. Read more
3.05 pm
OPEC meet begins
OPEC will seek an agreement on Friday to boost oil output amid calls from major consumers to prevent a supply shortage and despite opposition from group member Iran, which faces export-crippling US sanctions. Click here to read more
Pre-close trade
The Sensex was trading higher by over 200 points and the Nifty close to 10,800-mark on heavy buying in healthcare, banking, FMCG and power stocks amid firm global cues.
The BSE index was up 203.65 points or 0.57 per cent at 35,636.04 and the NSE index up 53.6 points or 0.5 per cent at 10,794.70.
Top five Sensex gainers were Sun Pharma, M&M, HDFC, Axis Bank and ITC, while the major losers were Reliance, Coal India, Wipro, IndusInd Bank and TCS.
World shares rose on Friday but were set to end a second week lower amid intensifying worries over the fallout of a trade dispute resulting from U.S. tariffs, while oil prices were higher ahead of an OPEC meeting later in the day.
The MSCI All-Country World index, which tracks stocks in 47 countries, was up 0.2 percent in the European morning but down 1.3 percent on the week, its worst weekly showing since mid-March.
RITES IPO
The initial public offer of RITES was subscribed 9.73 times so far on Day 3. The ₹466-crore IPO received bids for 24.52 crore shares, against the total issue size of 2.52 crore, according to NSE data as of 2.30 pm local time. Click here to read more
Fine Organic IPO
The initial public offer of chemical manufacturer Fine Organic Industries was subscribed 1.02 times so far on the last day of bidding today. Read more
Gold futures
Gold prices fell 0.16 per cent to Rs 30,864 per 10 grams at the futures trade as speculators trimmed their positions owing to weak global cues. Read more
EU slaps tariffs on US products
The European Union slapped revenge tariffs on iconic US products, including bourbon, jeans and motorcycles in its opening salvo in a trade war with President Donald Trump. The tariffs will further fuel jitters on world stock markets that are already alarmed by trade tensions between the United States and China. Click here to read more
PE/VC Assn calls for GST exemption
The Indian Private Equity & Venture Capital Association (IVCA) has called for GST exemption on the management fees of private equity funds. Currently, fund management fees in the case of private equity funds are subjected to 18 per cent GST. Click here to read more
OPEC rift deepens
Iran’s oil minister has walked out of a key meeting with OPEC peers, as a rift deepened with regional rival Saudi over its push to ramp up the cartel’s oil output. The talks were meant to lay the groundwork for today’s gathering of OPEC, when the cartel will discuss easing a supply-cut deal with 10 partner countries that has cleared a global oil supply glut and pushed crude prices to multi-year highs. Click here to read more
Mid-session trade
The Sensex was trading higher by 72.4 points or 0.2 per cent at 35,504.79 and the Nifty up 17.45 points or 0.16 per cent at 10,758.55.
Among BSE sectoral indices, FMCG, healthcare, consumer durables and capital goods found investors' support, while realty, oil & gas and IT succumbed to selling pressure.
Top five Sensex gainers were Sun Pharma, M&M, ITC, Axis Bank and Bharti Airtel, while the major losers were Reliance, Wipro, Adani Ports, IndusInd Bank and Coal India.
The Nifty energy index shed 1.1 per cent, as global oil prices rose on uncertainty over whether the Organization of the Petroleum Exporting Countries would manage to agree on a production increase at a meeting later in the day.
In Asia, shares ex-Japan clawed back after earlier sliding to their lowest level in six months on signs US trade battles with China and many other countries were starting to chip away at corporate profits.
“People are wary of this trade protectionism policy. Things between the United States and China are becoming worse,” Saurabh Jain, AVP - Research at SMC Global Securities, said.
Nifty 50 June Futures (10,745)
Short-term traders with a high risk appetite can go long at current levels. Stop-loss can be placed at 10,720 for the target of 10,785. Revise the stop-loss higher to 10,755 as soon as the contract moves up to 10,765. Click here to read more
JSW Steel to invest $500 mn in Acero
JSW Steel will invest up to $500 million (about Rs 3,390 crore) to acquire, upgrade and enhance the US-based integrated steel manufacturing unit Acero Junction Inc in phases. Click here to read more
Capacite Infraprojects rallies over 9%
Shares of Capacite Infraprojects climbed as the construction firm has won a redevelopment project. The stock climbed as much as 9.4 per cent to Rs 315.80, highest in over 3 weeks. Click here to read more
UPL hits over 1-1/2-year low
Shares of agrochemical maker UPL Ltd fell as much as 2.14 per cent to Rs 632.2, their lowest since December 29, 2016, and technicals suggested further downside. Read more
IDBI Bank jumps 6%
IDBI Bank shares jumped as much as 5.9 per cent to Rs 61.15, their biggest intraday percentage gain since June 7, on stake sale report. More on this
Pre-noon trade
Benchmark indices were trading marginally lower, in line with weak Asian peers, as growing worries over US-China trade dispute dampened investor sentiment.
The Sensex was down 28.75 points or 0.08 per cent at 35,403.64 and the Nifty down 11.9 points or 0.11 per cent at 10,729.20.
Top five Sensex gainers were M&M, ITC, Sun Pharma, HDFC and Hindustan Unilever, while the major losers were Reliance, Wipro, Coal India, IndusInd Bank and Adani Ports.
Among BSE sectoral indices, realty, power, oil & gas and banking succumbed to selling pressure, while FMCG, consumer durables, TECk and capital goods found investors' support.
Bank Nifty
Among the call option chain, the In-The-money Bank Nifty Call 26400 option was the actively traded contract on Thursday. The option price closed at Rs 221, down by Rs 99 or 31 per cent. However, the OI in the contract has jumped 47.45 per cent. Click here to read more
UltraTech Cement hits 1-1/2-year low
UltraTech Cement shares fell as much as 1.49 per cent to Rs 3,563, their lowest since January 24, 2017, and the chart suggested more downside. Click here to read more
Dollar retreats from 11-month peak
The dollar index, which tracks the greenback against six other currencies, edged 0.1 per cent lower to 94.792 on Friday, after touching 95.533, its highest level since last July. Click here to read more
Spot gold inches up to $1,268.24
Gold prices inched up early on Friday after hitting a 6-month low the session before, with the dollar retreating from an 11-month peak. Click here to read more
Rupee strengthens to 67.79
The rupee firmed up by 19 paise to 67.79 against the dollar on increased dollar selling by banks and exporters. Weakening of dollar from an 11-month peak against other currencies overseas also supported the rupee sentiment. Click here to read more
Nikkei drops on trade war woes
Japan's Nikkei share average dropped after Germany's Daimler cut its profit forecasts citing tariff concerns and some US data came in below expectations, hurting cyclical stocks. More on this
Benchmark indices were trading lower, in line with Asian peers, as caution prevailed amid lingering worries over US-China trade spat.
The Sensex was down 64.09 points or 0.18 per cent at 35,368.30 and the Nifty dwon 29.6 points or 0.28 per cent at 10,711.50.
Top five Sensex gainers were M&M, ITC, Sun Pharma, L&T and HDFC, while the major losers were Reliance, Wipro, IndusInd Bank, Adani Ports and Coal India.
Realty, metal, health and consumer durables stocks succumbed to selling pressure, while TECk, capital, FMCG and IT found investors' support.
Asian shares slid to their lowest in six months, on signs US trade battles with China and many other countries are starting to chip away at corporate profits, while oil prices were choppy ahead of an OPEC meeting to discuss raising output.
SEBI does away with grading of IPOs
SEBI has cut the time for announcement of price band of IPOs to two days from five and recast the share buyback norms. SEBI Chairman Ajay Tyagi says intend to further rationalise the regulations for FPIs and mutual funds. Click here to read more
SEBI to plug gaps that led to leak of ASM stocks
SEBI Chairman Ajay Tyagi says that the markets regulator will take corrective measures following the leak of a list of stocks ahead of their being placed under Additional Surveillance Measures. Click here to read more
SEBI cracks the whip in NSE co-location case
Four-and-a-half years after a whistle-blower first highlighted that unfair access was given to stock brokers for high-frequency trading at the National Stock Exchange, SEBI has declared that it has initiated enforcement action against entities involved in the scam. Click here to read more
Shares of AstraZeneca Pharma India were trading up by 4.1 per cent at Rs 1,408 on the BSE. The company has received approval from the Drug Controller General of India to market Durvalumab, a cancer treatment medicine. Read more
Shares of DIL were trading up by 3.47 per cent at Rs 3,950 on the BSE. DIL board had on Thursday approved a scheme of amalgamation with its subsidiary Fermenta Biotech, a manufacturer/marketer of bulk drugs including Vitamin D3 and enzymes. Read more
Strides Shasun shares were trading down by 1.35 per cent at Rs 388 on the BSE. On Thursday, the company had announced the receipt of prequalification from the World Health Organisation for its 100-mg rectal artesunate suppositories for pre-referral management of severe malaria. Read more
Atishay shares were trading up by 0.65 per cent at Rs 77.70 on the BSE. The company has won the project for providing technical support services for Rajasthan UID (Aadhaar) through open competitive bidding (e-tender). The total price consideration for the project is about ₹1.40 crore. More on this
KPIT Technologies has announced a strategic collaboration with Kinetiq, a life sciences and clinical research management consulting firm, to deliver new life sciences-focused business technology applications. More on this
Day Trading Guide
Given below are supports and resistances for Nifty 50 futures and seven key stocks that can help in your intra-day trading:
₹2056 • HDFC Bank
S1 | S2 | R1 | R2 | COMMENT |
2044 | 2033 | 2065 | 2075 | Initiate fresh long positions with a stiff stop-loss only if the stock advances above ₹2,065 levels |
₹1246 • Infosys
S1 | S2 | R1 | R2 | COMMENT |
1235 | 1225 | 1255 | 1267 | Fresh short positions can be initiated with a fixed stop-loss if the stock of Infosys declines below ₹1,235 levels |
₹260 • ITC
S1 | S2 | R1 | R2 | COMMENT |
258 | 255 | 263 | 265 | Near-term stance is bearish for the stock of ITC. Sell the stock in rallies with a tight stop-loss at ₹263 levels |
Click here to view the full guide
9.15 am
The 30-share BSE index Sensex opened lower by 41.09 points at 35,391.3 against the previous close of 35,432.39 and the 50-share NSE index Nifty down 8.9 points at 10,732.20 against 10,741.10.
9.10 am
Today's stock pick
Union Bank of India (₹86): Sell
Investors with a short-term view can sell the stock of Union Bank of India at current levels. The stock has been in an intermediate-term downtrend since encountering a key resistance at ₹190 in October 2017. Click here to read more