Markets Live: Sensex zooms 453 points to 36,170; Nifty closes at 10,859

Closing bell

The S&P BSE Sensex ended the session higher by 453.46 points or 1.27 per cent at 36,170.41 and the Nifty 50 up 129.85 points or 1.21 per cent at 10,858.70 on positive global cues and short-covering ahead of November F&O expiry. Strengthening of rupee to 69.81 (intraday) also boosted the domestic sentiment.

Intraday, the BSE index surged 536.9 points to 36,253.85 against the previous close of 35,716.95 and the NSE index jumped 149.5 points to 10,878.35 against 10,728.85.

Top five Sensex gainers were Bajaj Auto, Kotak Bank, M&M, Vedanta and IndusInd Bank, while the major losers were ONGC, PowerGrid, NTPC, Infosys and YES Bank.

Among BSE sectoral indices, metal gained the most followed by banking, realty and consumer durables, while IT, TECk and power succumbed selling pressure.

As per provisional data, foreign portfolio investors bought shares worth a net of Rs 961.26 crore, while domestic institutional investors sold shares to the tune of Rs 330.29 crore on Wednesday.

A more dovish tone from Fed Chairman Jerome Powell helped to revive the risk appetite, driving world stocks to their highest in more than two weeks, as European equities joined a global rally and core bond yields fell.

European stocks rallied, with the leading euro zone index up 0.8 per cent, and tech, mining and autos sectors - the worst hit by recent losses - scoring the biggest gains.

Bullion rates

Gold remained weak for the second straight day as the prices fell Rs 20 to Rs 31,540 per 10 gram due to tepid demand from local jewellers despite a firm trend overseas. Silver recovered by Rs 60 to Rs 37,160 per kg on scattered enquiries from industrial units amid better global cues. Read more

European markets

European shares joined an overnight rally on Wall Street after dovish comments from Federal Reserve Chair Jerome Powell boosted investor sentiment towards stock markets despite uncertainty over a possible escalation in the US/China trade dispute.The pan-European STOXX 600 benchmark was up 0.7 per cent. Read more

NTPC offer-for-sale

The government is planning to sell at least 3.25 per cent stake in NTPC in December, which will help garner Rs 3,800 crore to the exchequer. The company shares were down 0.91 per cent at Rs 142.20 on the BSE. Read more

Sensex gainers, losers

Top 10 Nifty gainers, losers

Nifty 50 November Futures (10,875)

The contract recorded an intra-day high of 10,882. The near-term outlook is bullish for the contract. Key resistances are at 10,800 and 10,900 levels. A strong rally beyond 10,900 can take the contract northwards to 10,925 and 10,950 levels. Click here to read more

Pre-close trade

The S&P BSE Sensex surged 535.16 points to intraday high of 36,252.11 and the Nifty 50 climbed 147.75 to 10,876.60 on positive global cues after dovish comments from Federal Reserve Chair Jerome Powell boosted investor sentiment towards stock markets despite uncertainty over a possible escalation in the US/China trade dispute.

Traders believe the risk of fast-rising interest rates hurting the US economy and the stock market is now on the downside after Powell said monetary policy rate is now “just below” estimates of a level that neither brakes nor boosts a healthy economy.

Sical Logistics rallies 8%

Shares of Sical Logistics Ltd jumped as much as 8 per cent to Rs 163, their biggest intraday percentage gain in two weeks, as the company has received letter of acceptance for coal extraction and transportation at Hingula, Odisha from Coal India's unit Mahanadi Coalfields. Read more

Adani Enterprises posts over 6-week high

Shares of Adani Enterprises gained the most in over 6 weeks as the company will fully fund its controversial Carmichael coal mine and rail project in Australia. The shares rose as much as 6.6 per cent to Rs 168.35, their highest since November 7. Read more

Adani Enterprises to fully fund Carmichael project

Adani Enterprises will fully fund its controversial Carmichael coal mine and rail project in Australia. The mine has faced years of delays amid opposition from environmental groups, who argue it will contribute to global warming. Read more

Why passive funds are in the news?

The debate over investing in active versus passive funds has once again come into focus with the recent underperformance of actively managed funds in India. Over the past year, large- and multi-cap funds on average have underperformed their benchmarks by around 400 bps and 150 bps, respectively. Click here to read more

Fire at RIL's Vadodara unit

Three contractual workers died following a fire accident reported at one of the units at Reliance Industries Ltd's Koyali complex in Vadodara early on Thursday. Reliance Industries shares were trading at Rs 1,173.40, up nearly 2 per cent on NSE. Read more

Domestic shares jumped over 1 per cent, tracking broader Asian markets that rallied after the US Federal Reserve chairman's comments were interpreted as a dovish shift, and ahead of the expiry of futures and options contracts later in the day.

The Sensex was trading higher by 366.35 points or 1.03 per cent at 36,083.30 and the Nifty up 108.30 points or 1.01 per cent at 10,837.15.

Top five Sensex gainers were Vedanta, M&M, Bajaj Auto, Kotak Bank and IndusInd Bank, while the major losers were ONGC, YES Bank, Coal India, TCS and Sun Pharma.

Among BSE sectoral indices, metal, consumer durables, banking and auto remained investors' favourite, while IT, power and TECk stocks succumbed to selling pressure.

UTI Regular Savings

Conservative hybrid funds that invest a chunk of their assets in debt instruments are ideal for risk-averse investors chary of market volatility. These funds are mandated to invest 75-90 per cent of assets in debt securities and 10-25 per cent in equities. UTI Regular Savings Fund has been a consistent long-term performer within the category.  Read more

IDFC Sterling Value

Investors with a moderate risk appetite looking for steady long-term returns, and with the ability to digest short-term underperformance, can buy the units of IDFC Sterling Value (earlier called IDFC Sterling Equity). The fund is predominantly mid-cap-oriented, with a small proportion accounting for large-cap stocks, which are thrown in for greater portfolio stability. Read more

MCX gold, silver

Gold prices softened 0.41 per cent to Rs 30,518 per 10 grams at the futures trade as participants trimmed their positions, taking negative cues from spot market on sluggish demand despite a firm trend overseas. Read more

Top 10 Nifty gainers, losers

NSE sectoral indices

Post-noon trade

Domestic shares jumped 1 per cent, tracking broader Asian markets that rallied after the US Federal Reserve chairman's comments were interpreted as a dovish shift, and ahead of the expiry of futures and options contracts later in the day.

Asian stocks tracked a surge on Wall Street, after Fed Chairman Jerome Powell suggested the central bank may be nearing an end to its three-year rate tightening cycle, boosting interest in riskier assets. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.85 per cent.

A sharp rise in the rupee to a three-month high against the dollar also added to the positive sentiment. The partially convertible currency was at 69.8975 per dollar after touching 69.88 earlier, its strongest level since August 27.

Investors are also awaiting the release of the country's gross domestic product (GDP) data for the September quarter on Friday.

The broader NSE index was up 95.4 points or 0.89 per cent at 10,824.85, while the benchmark BSE index surged 351.43 points or 0.98 per cent to 36,068.38.

“There is a good deal of positivity in the market due to expectations of a reduced pace of a rate hike by the US,” said Anand James, chief market strategist at Geojit Financial Services.

But, worries around the upcoming US-China meeting on the sidelines of G20 summit, and domestically, state election results and expected GDP data restricted the upside, James said.

“Last couple of days we have seen F&O related moves as well with most of the index heavyweights helped by short coverings. Roll-overs have been tepid now.”

Most metal stocks advanced after base metal prices rose in the wake of Fed comments. Nifty metal index rose up to 2 per cent. Hindalco Industries Ltd, the top percentage gainer on the NSE index, rose as much as 3.9 per cent.

Rupee rebounds to 69.88

The rupee rose to a three-month high against the dollar, while bond yields were at their lowest levels since early May. Intra-day, the domestic unit breached the 70 per dollar mark to 69.88. Read more

Base metals rebound on Fed comments

Most Shanghai base metals rose, tracking equities after investors saw comments from the US Federal Reserve chair as a sign the central bank's interest rate hike cycle is drawing to a close. Three-month copper on the London Metal Exchange climbed 0.6 per cent to $6,237.50 a tonne, as of 0455 GMT. Read more

Spot gold up at $1,224

Gold prices firmed up as the dollar faltered following dovish comments from US Federal Reserve Chair Jerome Powell, calming investor concerns over the pace of rate hikes. Spot gold was up 0.3 per cent at $1,224.13 per ounce at 0410 GMT. Read more

Brent crude jumps to $60.65

Oil prices rose ahead of an OPEC meeting next week at which the producer club is expected to decide some form of supply cut to counter an emerging glut. WTI crude futures were at $51.88 per barrel at 0148 GMT, up 32 cents, or 0.6 per cent from their last settlement. Read more

China stocks extend gains

China shares rose on hopes of policy support and as US Federal Reserve Chairman Jerome Powell made comments interpreted as a dovish shift, but investors remain wary ahead of the upcoming G20 meeting in Argentina. At the midday break, the Shanghai Composite index was up 7.26 points, or 0.28 per cent, at 2,608.99.  Read more

RIL hits 6-week high

Shares of Reliance Industries today hit a 6-week high, and chart suggested further upside. The stock gained as much as 2.1 per cent to Rs 1176.8, highest since October 17. Read more

YES Bank hits over 2-1/2 year low

Shares of YES Bank hit the lowest in over 2-1/2 years on ICRA and CARE downgrade. The private-sector lender shares slumped as much as 6.1 per cent to Rs 151.15, lowest since March 2016. Read more

Vedanta shares jump 4%

Shares of Vedanta Ltd jumped as much as nearly 4 per cent to Rs 200.65 as the three-member independent committee formed by the National Green Tribunal has termed the shutdown of Vedanta’s Sterlite copper plant in Thoothukudi, Tamil Nadu, “unsustainable”. Read more

Vakrangee hits upper circuit limit

Shares of technology company Vakrangee hit the upper circuit limit after SEBI investigation. The stock rose as much as 4.9 per cent to Rs 30.7, its highest in a month. Read more

The S&P BSE Sensex surged 350 points on positive global cues after Federal Reserve Chairman Jerome Powell said that the policy rate was 'just below' neutral, easing worries of a faster pace of interest rate hikes next year. Short-covering ahead of November month F&O expiry later in the day also boosted the domestic sentiment.

The Sensex was trading higher by 349.83 points or 0.98 per cent at 36,066.78 and the Nifty up 90.35 points or 0.84 per cent at 10,819.20.

Brokers said that the market mood remained buoyant on FII buying and a firm trend in global markets. Foreign portfolio investors bought shares worth Rs 961.26 crore on Wednesday, while domestic institutional investors sold shares to the tune of Rs 330.29 crore.

‘Value investing is seeing a certain degree of comeback’

B Gopkumar, ED & CEO, Reliance Securities

 

Sounding a cautiously optimistic note, B Gopkumar, ED & CEO, Reliance Securities, says the painful period for the Indian market is a thing of the past, though investors should take informed decisions from a basket of quality stocks. Click here to read more

2.0 mega release: PVR, INOX Leisure to remain in focus

Packing a punch Rajinikanth fans get ready for the release of 2.0, billed as the costliest Indian movie, at a theatre in Chennai on Wednesday.

Shares of PVR and INOX Leisure may remain in focus, as the much-awaited Rajinikanth, Akshay Kumar and Amy Jackson starrer 2.0 hits screen on Thursday. Reports indicate that 2.0 is releasing in over 10,500 screens across the world. PVR shares were trading down 0.59 per cent at Rs 1,454 and INOX Leisure up 0.89 per cent at Rs 215.45 on the BSE. Read more

Broker's call

CD Equisearch

Aarti Industries (Buy)

CMP: ₹1,472.5

Target: ₹1,704

Read more

Broker's call

Equirus

Nesco (Long)

CMP: ₹440.15

Target: ₹603

Click here to read more

Sensex gainers, losers

Top five gainers were Vedanta, Reliance, Tata Steel, ITC and Asian Paints, while the major losers were YES Bank, ONGC, Coal India, TCS and Infosys.

Top 10 Nifty gainers, losers

The S&P BSE Sensex surged 284.83 points or 0.8 per cent to 36,001.78 and the Nifty 50 jumped 72.05 points or 0.67 per cent to 10,800.90 on heavy buying in metal, FMCG, power and realty stocks amid positive global cues.

Asian stocks advanced, tracking a surge on Wall Street. US stock indexes rallied more than 1.5 per cent on Wednesday after Federal Reserve Chairman Jerome Powell said the policy rate was 'just below' neutral, easing worries of a faster pace of interest rate hikes next year.MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.8 per cent.

Opening bell

The 30-share BSE index Sensex opened at 35,997.29 against the previous close of 35,716.95, higher by 280.34 points. The 50-share NSE index Nifty opened marginally higher by 61.2 points at 10,790.05 against the previous close of 10,728.85

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:

₹2084 • HDFC Bank

₹666 • Infosys

₹282 • ITC

₹142 • ONGC

₹1146 • Reliance Ind.

₹284 • SBI

₹1976 • TCS

10717 • Nifty 50 Futures

S1, S2 : Support 1 & 2; R1, R2: Resistance 1 & 2.

Today's Pick

We recommend a buy in the stock of L&T Finance Holdings at the current levels of ₹138.6. Following a sharp fall in the month of September, the stock found support at around ₹115 in early as well as late October. Read more

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