Closing bell
The Sensex soared 579.68 points to end at a one-month high of 35,011.65 on easing crude prices, strengthening of rupee to 72.52 and fresh foreign fund inflows. Positive cues from global markets on easing concerns over the US-China trade war too buoyed the sentiment.
The 30-share index got off to a strong start at 34,743.95 points and reclaimed the 35,000-mark to hit a high of 35,190.20 but profit-booking trimmed the gains. It finally settled 579.68 points, or 1.68 per cent, higher at 35,011.65. This is its highest closing since October 4, when it had finished at 35,169.16.
The NSE Nifty leaped 172.55 points, or 1.66 per cent, to 10,553 after touching intraday high of 10,606.95. On a weekly basis, both the Sensex and Nifty halted their two-week losing streak by surging 1,662.34 points or 5 per cent, and 523 points or 5 per cent, respectively.
Investor sentiment got a big push after Brent crude dropped below the $73-mark to quote at a seven-month low of $72.65 by falling 3.48 per cent due to higher supply from the world’s major producers.
Top five Sensex gainers were Maruti, Tata Motors, Vedanta, IndusInd Bank and Adani Ports, while the major losers were Wipro, TCS, Infosys, State Bank of India and Sun Pharma.
As per provisional data, foreign institutional investors made fresh purchases worth Rs 348.75 crore, while domestic institutional investors sold shares worth Rs 509.17 crore on Thursday.
Bullion rates
Gold prices drifted lower by Rs 150 to Rs 32,630 per 10 grams due to a weak global trend and lower demand from domestic jewellers. Silver, however, recovered by Rs 310 to Rs 39,500 per kg due to increased offtake by coin makers. Read more
European markets
European shares joined a global relief rally after US President Donald Trump fuelled hopes among investors that a deal to end a prolonged dispute over trade could be made with his Chinese counterpart Xi Jinping later this month. Read more
Rupee strengthens to 72.52
The rupee appreciated by 93 paise to 72.52 against the dollar at the interbank foreign exchange market today as crude prices fell to a seven-month low in the global market. It hovered in a range of 73.21 and 72.52 before quoting at 72.55, up 90 paise at 3.25 pm local time. Read more
BSE to delist 9 cos from Monday
The Bombay Stock Exchange will delist as many as nine companies from Monday as trading of shares in these companies has remained suspended for over 6 months. During the last few months, the exchange had been delisting firms in which trading remained suspended for a long time. Read more
IndianOil stocks spurt over 5%
IndianOil has reported a ₹ 3,246.93 crore net profit for the second quarter of financial year 2018-2019. This is 12.15 per cent lower than the ₹ 3,696.29 crore net profit reported in the same period in the financial year 2017-2018. The company shares were up 5.02 per cent at Rs 148.65 on the BSE. Read more
The Sensex touched intraday high of 35,190.20 and the Nifty hit 10,604.55 on heavy buying in auto, metal, oil & gas and FMCG stocks.
Nifty gainers, losers
BPCL, Tata Motors, Vedanta, Maruti and IndusInd Bank were the major gainers, while TechM, Wipro, Dr Reddy's, Bajaj Finance and Cipla were the top losers.
The benchmark BSE index vaulted 758.23 points to intraday high of 35,190.20 and the broader NSE index breached the 10,600 level on positive global cues and strengthening of rupee to 72.58 against the dollar.
Crude oil prices fell on increasing output by the world's three largest producers. Oil marketing companies gained on lower crude oil prices. Auto stocks were boosted by a solid set of October sales numbers. On the other hand, IT, PSU Bank, Pharma and Media stocks succumbed to selling pressure.
European shares joined a global relief rally after US President Donald Trump fuelled hopes among investors that a deal to end a prolonged dispute over trade could be made with his Chinese counterpart Xi Jinping later this month.
“Macros have shown improvement, and sentiment is slowly improving as well,” said Anita Gandhi, whole-time director, Arihant Capital Markets.
L&T arm wins new orders
The construction arm of L&T has won orders worth Rs 1,329 crore across three business segments – smart world communication, transportation infrastructure and water and effluent treatment. Read more
NSE sectoral indices
Barring pharma and IT, all other sectoral indices were in the green. Among them, auto gained 4.4% followed by metal 3.56%, FMCG 2.29% and Fin Service 2.16%.
BSE sectoral indices
Barring IT, all other sectoral indices were trading in the positive zone.
Sensex gainers, losers
Nifty gainers, losers
PNB shares drop nearly 4%
Punjab National Bank has reported a net loss of Rs 4,532.35 crore for the quarter ended September 30, 2018, against a net loss of Rs 940 crore in the previous quarter this fiscal. In the September quarter last year, PNB had recorded a net profit of Rs 560.58 crore. The state-run lender shares were trading down 3.57 per cent at Rs 71.60 on the BSE. Read more
Nifty 50 November Futures (10,588)
Nifty futures contract started the session with a wide gap-up open at 10,490. After an initial dip to intra-day low of 10,478, the contract resumed its up-move and breached the key resistance at 10,500. The contract registered an intra-day high of 10,612 and continued to trade on a strong note. Read more
Benchmark indices climbed in line with Asian shares and were set for their best week since May 2016, as crude prices fell and the rupee extended gains to touch a one-month high.
Intraday, the broader NSE index surged 200.95 to 10,581.90 and the benchmark BSE index rallied 692.75 points to 35,124.72.
“Macros have shown improvement, and sentiment is slowly improving as well,” said Anita Gandhi, whole-time director, Arihant Capital Markets.
Asian shares rose on hopes of a thaw in trade tensions between the United States and China. The rupee continued its recovery into a second session and firmed up 0.9 per cent to 72.78 against the dollar as oil prices slipped on surging output by the world's three largest producers.
India meets most of its energy requirement through oil imports and easing crude oil prices benefit the rupee. Oil marketing companies cheered lower crude prices, with Indian Oil Corp, Bharat Petroleum Corporation Ltd and Hindustan Petroleum Corp Ltd climbing between 4.1-5.8 per cent.
Auto stocks were boosted by a solid set of October sales numbers. The Nifty Auto Index jumped 3.7 per cent to a more than two-week high.
Maruti Suzuki India Ltd rose 4.6 per cent, while Bajaj Auto Ltd climbed 3.9 per cent to a four-week high after posting a 32.5 per cent jump in October sales.
Oil-to-retail conglomerate Reliance Industries Ltd, up 2 per cent, and Housing Development Finance Corporation Ltd, up 2.2 per cent, were the biggest contributors to the NSE index.
Ride on NHAI tax-free bonds
The uncertainty created by the IL&FS crisis in the bond market last month has made fixed income investors jittery. Many debt mutual funds, ULIPs and NPS funds that held IL&FS bonds in their portfolio witnessed a sizeable drop in their NAV. Click here to read more
Economy alerts
After hitting a four-year high of $86 per barrel on October 4, Brent crude oil prices eased to $76 per barrel on October 26. Prices fell as oil inventories rose due to improving supply scenario and slowing demand.
Falling oil prices have helped the yield on India’s 10-year government security (G-Sec) slide below 8 per cent in October to 7.88 per cent on Friday, 19 basis points lower on-month.
The Reserve Bank of India’s open market operations worth $360 billion also helped offset the liquidity crunch caused by possible forex intervention.
Fiscal deficit of the Centre reached 95.3 per cent of the full-year target in the first half of fiscal 2019 — higher than 91.3 per cent of the target in the same period last year.
Offers on the card
Many leading banks such as State Bank of India, ICICI Bank and HDFC Bank have festival offers on purchases using their credit and debit cards. This is done by having a tie-up with specific retailers for both online and offline sales. Click here to read more
Why 2018 is not like 2013 for India
The recent macroeconomic volatility, including rising oil prices, falling currencies and stock market sell-offs across emerging markets, has led to re-echoing of sentiments and parallels being drawn to 2013. Click here to read more
Indraprastha Gas climbs 5.3%
Indraprastha Gas jumped as much as 5.3 per cent to Rs 293.95, their highest since September 3, as the Supreme Court has enabled the takeover of Haryana City Gas Distribution Ltd by the company based on an independent valuation by Deloitte Haskins and Sells LLP. Read more
Bajaj Auto jumps 4%
Shares of Bajaj Auto Ltd rose 3.9 per cent to a four-week high of Rs 2,700, heading for the seventh straight session of gains. The stock marked sharpest daily percentage gain since October 12. Read more
Spot gold holds steady at $1,232.72
Gold prices were steady, after rising about 1.5 per cent in the previous session, while the dollar inched up ahead of the US payrolls data due later in the day. Spot gold was steady at $1,232.72 per ounce, as of 0116 GMT. Read more
Forex market
The safe haven yen slipped and the Australian dollar extended its rally as an apparent de-escalation in the US-China trade war gave market confidence a significant boost in Asian trade. Against the safe haven yen, the dollar was up 0.3 per cent at 113.03 yen, paring the previous day's losses. Read more
Pre-noon trade
The benchmark BSE Sensex rallied 597.31 points to intraday high of 35,029.28 and the NSE index Nifty surged 185.55 points to 10,566 on heavy foreign fund inflows, strengthening of rupee and easing of US-China trade war fears.
Top five Sensex gainers were Vedanta, YES Bank, M&M, Hero MotoCorp and Adani Ports, while the major losers were Wipro, Infosys, TCS, ICICI Bank and NTPC.
Among BSE sectoral indices, auto index gained 3.96%, metal 3.49%, oil & gas 2.81% and consumer durables 2.16%.
Brent crude reverses early losses
Oil prices reversed early losses as hopes rose that the United States and China may resolve their trade disputes soon, easing concerns that an economic slowdown may weigh on fuel demand. Brent crude futures were at $73.04 per barrel at 0520 GMT on Friday, up 15 cents, or 0.2 percent, from their last close. Read more
Asian markets
Asian shares jumped after a phone call between the US and Chinese presidents raised hopes of a thaw in trade tensions, but gains were checked by signs of slowing global growth and a warning from tech giant Apple Inc on holiday sales. MSCI's broadest index of Asia-Pacific shares outside Japan touched a two-and-a-half-week high and was last up 1.4 per cent, adding to the previous session's strong gains. Read more
Nifty auto stocks
Nifty metal stocks
BSE sectoral indices
Auto index gained 3.46% followed by metal 3.35%, oil & gas 2.52% and consumer durables 2.29%.
NSE sectoral indices
Auto index gained 3.49% followed by metal 3.25%, FMCG 1.92% and PSU Bank 1.91%
The S&P BSE Sensex rallied 577.97 points or 1.68 per cent to 35,009.94 and the Nifty50 surged 183.05 points or 1.76 per cent to 10,563.50. The BSE index touched intraday high of 35,029.28 and the NSE index touched a high of 10,566.35.
Triveni Turbine, Oriental Carbon buyback
Triveni Turbine board has approved a proposal for buyback at ₹150 a share for an aggregate amount not exceeding ₹100 crore. The buyback will be on proportionate basis and the resultant equity shares to be bought back with the maximum price is 66.66 lakh shares. Oriental Carbon & Chemicals board has also approved a ₹35-crore buyback. Read more
Titan ticks consistently in wealth creation chart
Titan Company has ensured consistently good times for its investors. The stock has been the most consistent wealth creator, with the highest price CAGR of 33 per cent from 2008 to 2018, followed by Godrej Consumer, Shree Cement and Pidilite with CAGRs of 30 to 33 per cent. Read more
Sensex gainers, losers
Top 10 Nifty gainers, losers
The S&P BSE Sensex soared 467.37 points or 1.36 per cent to 34,899.34 and the Nifty50 climbed 139.50 points or 1.34 per cent to 10,519.95 on fresh fund inflows, fall in crude prices to a 7-month low and strengthening of rupee against the dollar.
Positive cues from Asian markets on easing concerns over the US-China trade war, too, buoyed the domestic sentiment. Investor sentiment was also buoyed as Brent crude dropped below the $73-mark to quote at a seven-month low of $72.65.
Asian shares jumped tracking gains in Wall Street after US President Donald Trump said trade talks with China were “moving along nicely''.
As per provisional data, foreign institutional investors made fresh purchases worth Rs 348.75 crore, while DIIs sold shares to the tune of Rs 509.17 crore on Thursday.
What to watch
Over 130 firms including SAIL, PNB, Axis Bank, IOC and Hindalco will declare their July-September results today. Read more
BHEL buyback on Monday
BHEL shares will turn ex-date for the proposed buyback on Monday. Hence, shareholders wishing to participate in the proposed buyback need to own BHEL shares by today. Read more
NCC shares up 2%
Shares of NCC were trading higher by 1.98 per cent at Rs 79.90 as the company has received four new orders totalling ₹1,345.78 crore (exclusive of GST) in October. The stock touched intraday high of Rs 80.45 and a low of Rs 79. Read more
Broker's call
Kotak Securities
Supreme Ind (Buy)
Target: ₹1,205
CMP: ₹987.05
Opening bell
The 30-share BSE index Sensex opened 240.81 points higher at 34,672.78 points against the previous close of 34,431.97. The 50-share NSE index Nifty opened at 10,463.40, up 82.95 points, against the previous close of 10,380.45.
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:
₹1911 • HDFC Bank
S1 | S2 | R1 | R2 | COMMENT |
1895 | 1880 | 1925 | 1940 | Consider initiating fresh short positions with a stiff stop-loss only if the stock declines below ₹1,895 levels |
₹666 • Infosys
S1 | S2 | R1 | R2 | COMMENT |
655 | 644 | 676 | 686 | Fresh long positions are recommended with a tight stop-loss if the stock advances above ₹676 levels |
₹277 • ITC
S1 | S2 | R1 | R2 | COMMENT |
274 | 271 | 281 | 284 | Fresh short positions can be initiated with a fixed stop-loss if the stock of ITC fails to move beyond ₹281 levels |
₹154 • ONGC
S1 | S2 | R1 | R2 | COMMENT |
151 | 148 | 158 | 161 | Consider initiating fresh long positions with a tight stop-loss if the stock of ONGC rebounds up from ₹151 levels |
₹1056 • Reliance Ind.
S1 | S2 | R1 | R2 | COMMENT |
1047 | 1030 | 1070 | 1085 | Make use of intra-day rallies to initiate fresh short positions while maintaining a fixed stop-loss at ₹1,070 levels |
₹285 • SBI
S1 | S2 | R1 | R2 | COMMENT |
280 | 275 | 290 | 295 | Initiate fresh long positions with a fixed stop-loss if the stock of SBI rebounds up from ₹280 levels |
₹1934 • TCS
S1 | S2 | R1 | R2 | COMMENT |
1920 | 1900 | 1955 | 1975 | Fresh long positions can be initiated with a stiff stop-loss if the stock of TCS reverses higher from ₹1,920 levels |
10413 • Nifty 50 Futures
S1 | S2 | R1 | R2 | COMMENT |
10350 | 10300 | 10450 | 10500 | Initiate fresh long positions with a fixed stop-loss only if the contract rallies above 10,450 levels |
S1, S2 : Support 1 & 2; R1, R2: Resistance 1 & 2.
9.00 am
Today's Pick
We recommend a buy in the stock of NMDC at the current levels of ₹113.8. The short-term outlook is bullish for the stock. It can extend the upmove and reach the price targets of ₹118.5 and ₹121 in the upcoming sessions. Read more