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Closing bell
The benchmark BSE index ended higher by 196.62 points or 0.56 per cent at 34,457.16 and the broader NSE index closed up 65.5 points or 0.62 per cent at 10,682.20. Heavy buying in PSU Bank, IT and Financial Services boosted the domestic sentiment.
The broader NSE index rose as much as 0.7 per cent, and the benchmark BSE index climbed 0.8 per cent, their highest level since October 17. Both benchmark indices - Sensex and Nifty - recorded their third straight weekly gains by rising 298.61 points and 97 points, respectively.
Sustained FII inflows and strengthening of rupee to 71.71 (intra-day) fuelled the uptrend. There was continued buying by foreign funds for the second straight day on Thursday. Foreign institutional investors accumulated shares worth Rs 2,043.06 crore, while domestic institutional investors sold shares worth Rs 165.31 crore.
Top Nifty gainers were Bharti Airtel, Eicher Motors, HCL Technologies, Bajaj Finance and Reliance, while the major losers were YES Bank, Indiabulls Housing Finance, JSW Steel, HPCL and Tata Steel.
GVK Power to raise Rs 8,000 cr
GVK Power and Infrastructure has got shareholders’ approval to raise up to Rs 8,000 crore. According to a BSE filing, the resolution to raise funds, by a combination of various options listed on the agenda of AGM held on Wednesday, has been passed by a requisite majority. Read more
Rupee strengthens to 71.71
The rupee firmed up 26 paise to 71.71 against the US dollar (intra-day) on increased selling of the US currency by exporters and banks. Besides dollar’s weakness against some currencies overseas, increased foreign fund inflows and a firm equity market supported the rupee. Read more
European markets
The STOXX 600 was up 0.7 per cent by 0830 GMT, with Germany's DAX up 0.6 per cent. Britain's FTSE 100 and FTSE 250 both recovered, rising 0.6 per cent after Thursday's sharp selloff in domestic stocks on ministerial resignations. Read more
Sensex gainers, losers
BSE sectoral indices
Pre-close trade
Bullion rates
Gold fell Rs 235 to Rs 32,015 per 10 gram at the bullion market on muted demand from local jewellers. Silver, however, held steady at Rs 37,900 per kg on scattered enquiries from industrial units and coin makers. Read more
Green signal for IRFC tax-free bonds
The Centre permitted 13 State-owned entities to issue tax-free bonds during FY12-FY16. Interest paid on these bonds are totally exempt from income tax. Many tax-free bonds are available at a yield-to-maturity close to 6.5 per cent. Among these, the bonds issued by IRFC look attractive. Click here to read more
Why you should invest in MFs
Should you invest directly in the stock market or buy mutual funds for accumulating wealth to achieve your life goals? We address this question because many individuals believe that buying shares of ‘fundamentally good’ companies will give good returns, enabling them to accumulate wealth to meet their life goals. Click here to read more
Top 10 Nifty gainers, losers
Bharti Airtel Ltd's shares jumped 8.1 per cent to their highest since early October, and was the top percentage gainer.
YES Bank shares extended its slide, declining as much as 8.5 percent to a two-week low, after O. P. Bhatt, an external expert of the 'Search & Selection Committee' set up to find a new CEO to replace Rana Kapoor, resigned on Thursday. The stock was the top percentage loser.
Domestic shares continued their uptrend on heavy buying in FMCG, TECk, healthcare and consumer durables stocks amid firm European cues. Sustained FII inflows and strengthening of rupee to 71.71 against the dollar boosted the domestic sentiment.
Both the indices rose to their highest in over four weeks and were headed for their third straight weekly gain, boosted by a surge in top financial and energy stocks. The broader NSE index rose as much as 0.7 percent, and the benchmark BSE index climbed 0.8 percent, their highest level since October 17.
At 2.20 pm local time, the Sensex was trading higher by 191.3 points or 0.54 per cent at 35,451.84 and the Nifty up 48.8 points or 0.46 per cent at 10,665.50.
RIL's m-cap surpasses TCS
MCX opens new delivery centres
Multi Commodity Exchange has opened new delivery centres for gold in Chennai, Hyderabad, Kochi, Kolkata and Bengaluru. These delivery centres will be in addition to the existing facility in Mumbai and Delhi. Read more
Jet Airways zooms 14%
Shares of Jet Airways surged over 14 per cent ahead of a meeting of Tata Sons’ board, which is likely to discuss the buyout of the cash-strapped airline. The company shares rose as much as 14.35 per cent to an intra-day high of Rs 366.95. Read more
1.35 pm
Retirement solutions need a re-think
Developing solutions for funding the post-retirement period is going to get increasingly challenging in most countries. More thought needs to be given to developing solutions that ensure a steady stream of income that help an individual maintain the standard of living he/she is accustomed to. Read more
Domestic shares hit 4-week high
The Sensex and Nifty climbed to a 4-week high and were heading for their third straight weekly gain, boosted by a surge in top financial and energy stocks. The broader NSE index rose as much as 0.7 per cent, and the benchmark BSE index climbed 0.8 per cent, their highest level since October 17.
During mid-session, the Sensex was trading higher by 188.4 points or 0.53 per cent at 35,448.94 and the Nifty up 54.7 points or 0.52 per cent at 10,671.40.
Among BSE sectoral indices, TECk, power, healthcare and FMCG remained investors' favourite, while metal, infrastructure, realty and PSU succumbed to selling pressure.
Top five Sensex gainers were Bharti Airtel, Reliance, HDFC, HDFC Bank and Hero MotoCorp, while the major losers were YES Bank, Tata Steel, ONGC, Infosys and HUL.
Sustained FII inflows and strengthening of rupee to 71.74 boosted the domestic sentiment. As per provisional data, foreign institutional investors had accumulated shares worth Rs 2,043.06 crore, while domestic institutional investors sold shares worth Rs 165.31 crore on Thursday.
MCX gold, silver
Gold prices rose Rs 54 to Rs 30,875 per 10 grams at the futures trade as speculators raised their bets, taking positive cues from global market. Silver prices spurted Rs 187 to Rs 36,894 per kg. Read more
SC to hear Dalmia Bharat's plea
The Supreme Court has agreed to hear on November 19 the plea of a Dalmia Bharat Group firm challenging the NCLAT’s order allowing rival UltraTech Cement to acquire debt-ridden Binani Cement. The National Company Law Appellate Tribunal had on Wednesday allowed the Aditya Birla group firm to acquire Binani Cement by approving its revised Rs 7,950.34 crore bid over an offer by Rajputana Properties. Read more
YES Bank slumps 7.5%
YES Bank shares fell as much as 7.5 per cent to Rs 190.50, their lowest since November 1, as the private sector lender had said on Thursday that O. P. Bhatt resigned as an external expert of the 'Search & Selection Committee' set up to find a new CEO. Read more
Nifty 50 November Futures (10,660)
Short-term traders can wait for dips and go long if the contract reverses higher from the 10,630-10,620 support zone. Stop-loss can be placed at 10,605 for the target of 10,675. Revise the stop-loss higher to 10,645 as soon as the contract moves up to 10,655. Read more
Nifty gainers, losers
Oil-to-retail conglomerate Reliance Industries Ltd was the top boost to the NSE index, rising as much as 3 per cent to an over four-week high. HDFC Bank, India's largest bank by market capitalisation, climbed 1.5 per cent to an over three-week high, while Housing Development Finance Corporation Ltd touched its highest since September 18.
Bharti Airtel Ltd's shares jumped 8.1 per cent to their highest since early October, and was the top percentage gainer. Shares of Jet Airways India Ltd surged for a second straight day, climbing 14.4 per cent to their highest since June 27, following media reports that the debt-laden airline was nearing a rescue deal with Indian conglomerate Tata Sons Ltd.
YES Bank's shares extended its slide, declining as much as 7.5 per cent to a two-week low after O. P. Bhatt, an external expert of the 'Search & Selection Committee' set up to find a new CEO to replace Rana Kapoor, resigned on Thursday. The stock was the top percentage loser.
Infosys' stock, down as much as 1.9 per cent, was the biggest drag on the index. The software services exporter had on Thursday appointed Deputy Chief Financial Officer Jayesh Sanghrajka as the interim finance head of the company.
Domestic shares rose to their highest in over four weeks and were headed for their third straight weekly gain, boosted by a surge in top financial and energy stocks.
The broader NSE index rose as much as 0.7 per cent, and the benchmark BSE index climbed 0.8 per cent, their highest level since October 17. However, losses in private sector lender YES Bank Ltd and IT giant Infosys Ltd trimmed some of the gains.
The NSE index was up 47.85 points or 0.45 per cent at 10,664.55, while the BSE index rose 173.75 points or 0.49 percent to 35,434.29. The indexes are set to finish the week about 0.8 per cent higher.
According to Trade Ministry data, the country's trade deficit widened to $17.13 billion in October due to a higher oil import bill. "This was already priced in by the markets,'' said Sumit Pokharna, Vice-President, Kotak Securities.
"It's more of a short-term trading pattern, rather than anything to do with fundamentals, as there are still a lot of headwinds on global and local fronts,'' he added.
Sterling gripped by Brexit crisis
The British pound struggled to stay afloat in Asian trade having suffered a tumultuous slide overnight, as investors feared political turmoil in the country could see it crash out of the European Union without a divorce deal. It was changing hands at $1.2792, barely holding steady after declining 1.7 per cent on Thursday, its steepest percentage slide since October 11, 2016. Read more
Spot gold edges up to $1,215
Gold prices rose as investors sought safe haven assets amid fears of a chaotic departure for Britain from the European Union. Spot gold was up 0.2 per cent at $1,214.77 per ounce at 0121 GMT, while US gold futures rose 0.1 per cent to $1,215.6 per ounce. Read more
The Sensex was trading up 143.39 points or 0.41 per cent at 35,403.93 and the Nifty up 42 points or 0.4 per cent at 10,658.70 led by healthcare, power, FMCG and TECk stocks amid mixed Asian cues. However, infrastructure, oil & gas, PSU and metal succumbed to selling pressure.
Top Nifty gainers were Bharti Airtel, HCL Technologies, Eicher Motors, Reliance and Grasim, while the major losers were YES Bank, Indiabulls Housing Finance, ONGC, IOC and JSW Steel.
Rupee jumps to 71.82
The rupee firmed up 15 paise to 71.82 against the US dollar on increased selling of the US currency by exporters and banks. It hovered in a range of 71.96 and 71.82 before quoting at 71.85, up 12 paise at 11.25 am local time. Read more
Brent crude jumps to $67
Oil prices rose amid expectations of supply cuts from OPEC, although record US production dragged. WTI crude oil futures were at $56.84 per barrel at 0353 GMT, up 38 cents, or 0.7 per cent, from their last settlement. Read more
Sundaram Mutual new fund offer
Sundaram Mutual plans to raise ₹150-200 crore through the launch of new Sundaram Equity Savings Fund. The new fund offering will invest in equity, arbitrage and debt. It will be open for subscription between November 16 and 30 and re-open for ongoing subscription from December 14. Read more
Vikas Ecotech to turn ex-date
Shares of Vikas Ecotech were trading up 3.75 per cent at Rs 15.20 on the NSE. The shares will turn ex-date on Monday for the proposed demerger of Recycled Compounds and Trading Division into Vikas Multicorp. Read more
Tata Investment jumps over 3%
The board of Tata Investment Corporation will meet today to consider a buyback of shares. Shareholders would be keen to know the buyback size and price. Shareholders would also eye the mode of buyback - whether through open market purchase or via tender offer. Read more
Cimmco offer-for-sale
The offer-for-sale of the shares of Cimmco by Titagarh Wagons, its promoters, opened for retail investors today. On Thursday, the portion set aside for non-retail investors got subscribed by 4.87 per cent. Read more
Sensex gainers, losers
Top 10 Nifty gainers, losers
The Sensex was trading higher by nearly 250 points on continued foreign fund inflows and strengthening of rupee against the dollar.Positive cues from the US markets on optimism that the US and China may resolve their trade dispute, and a mixed trend in other Asian markets too supported the domestic sentiment.
The rupee firmed up 10 paise to 71.87 against the US dollar on increased selling of the US currency by exporters and banks. The BSE index was up 234.09 points or 0.66 per cent at 35,494.63 and the NSE index up 56.85 points or 0.54 per cent at 10,673.55.
As per provisional data, foreign institutional investors had accumulated shares worth a net of Rs 2,043.06 crore, while domestic institutional investors sold shares worth Rs 165.31 crore on Thursday.
Steel Strips Wheels bags export order
Steel Strips Wheels has received another export order from Europe for 70,000 wheels. The order comprises over 70,000 wheels, a mix of 13" and 14", to be shipped from its Chennai plant over the next three months to the EU Caravan market. The company shares were up 0.88 per cent at Rs 1,079 on the BSE. Read more
Shilpa Medicare jumps 5%
Shilpa Medicare has informed the exchanges that it will acquire 5.2 per cent stake (7.41 lakh shares) of Prathijna Sustainable Solutions for about ₹103.74 crore. The acquisition is likely to be completed within a month. Shilpa Medicare shares were trading up 4.95 per cent at Rs 392.50 on the BSE. Read more
Broker's call
Anand Rathi
NCL Ind (Buy)
CMP: ₹131.25
Target: ₹185
JMFL
Zee Enertainment (Buy)
CMP: ₹442.45
Target: ₹530
The Sensex was trading higher by 174.84 points or 0.5 per cent at 35,435.38 and the Nifty up 37.6 points or 0.35 per cent at 10,654.30 led by healthcare, auto, FMCG and consumer durables stocks amid weak Asian cues. However, oil & gas, infrastructure, metal and PSU succumbed to selling pressure.
Top five Sensex gainers were Sun Pharma, Axis Bank, M&M, TCS and Asian Paints, while the major losers were YES Bank, ONGC, Adani Ports, Infosys and Tata Steel.
Opening bell
The 30-share BSE index Sensex opened 83.27 points higher at 35,343.81 against the previous close of 35,260.54. The 50-share NSE index Nifty opened marginally higher at 10,636.60, up 20 points against the previous close of 10,616.70.
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:
₹1974 • HDFC Bank
₹656 • Infosys
₹274 • ITC
₹159 • ONGC
₹1097 • Reliance Ind.
₹285 • SBI
₹1865 • TCS
10623 • Nifty 50 Futures
S1, S2 : Support 1 & 2; R1, R2: Resistance 1 & 2.
9.00 am
Today's Pick
We recommend a buy in the stock of Godfrey Phillips India at the current levels of ₹867.1. Stop-loss can be placed at ₹805 for a target of ₹965. Revise the stop-loss higher to ₹880 as soon as the stock moves up to ₹895. Read more
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