Markets Live: Sensex ends flat ahead of GDP data; YES Bank jumps 5.7%

Investors remain nervous ahead of Trump-Xi talks at G20 summit

3:45 pm

Closing bell

The S&P BSE Sensex ended the session up by 23.89 points or 0.07 per cent at 36,194.30 and the Nifty 50 up 18.05 points or 0.17 per cent at 10,876.75 as investors remained wary ahead of July-September quarter GDP data to be released later in the day.

Top five Sensex gainers were YES Bank, Wipro, Kotak Bank, M&M and Sun Pharma, while the major losers were Tata Motors, ICICI Bank, IndusInd Bank, Vedanta and NTPC.

Among BSE sectoral indices, realty, healthcare, IT and auto remained investors' favourite, while infrastructure, oil & gas, PSU and metal succumbed to selling pressure.

 

 

European shares fell back as weak data from China rekindled anxiety over slowing growth and investors fretted ahead of Saturday's crucial G20 talks between US President Trump and China's Xi Jinping over trade.

3:30 pm

Hyundai Motor share buyback

 

Hyundai Motor Co would buy back 255 billion won ($228.3 million) worth of common and preferred stocks to stabilise its stock prices and boost investor returns, sending shares of the South Korean automaker up 4 per cent. Read more

3.15 pm

Pre-close trade

The Sensex was trading up 39.9 points or 0.11 per cent at 36,210.31 and the Nifty up 17.7 points or 0.16 per cent at 10,876.40 ahead of July-September quarter GDP data to be released later today.

Top five Sensex gainers were  YES Bank, Wipro, M&M, Sun Pharma and Kotak Bank, while the major losers were Tata Motors, ICICI Bank, IndusInd Bank, NTPC and Vedanta.

European shares fell back as weak data from China rekindled anxiety over slowing growth and investors fretted ahead of Saturday's crucial G20 talks between US President Trump and China's Xi Jinping over trade.

3:10 pm

Fillip to exports needed: FICCI

'

The Economic Outlook Survey 2018 states that though the government is taking short-term measures to address the challenges of widening current account deficit and rupee depreciation, exports need to be enhanced for the growth in the long run as it can combat external challenges. Read more

2:55 pm

Sun TV hits 2-week low

 

Shares of Sun TV Network Ltd fell as much as 4.36 per cent to Rs 589.4, their lowest in a fortnight. HSBC Global Research has cut Sun TV's price target to Rs 703 from Rs 855; it has maintained “hold” rating. Read more

2:45 pm

European markets

 

The pan-European STOXX 600 opened marginally up but rapidly fell into the negative, down 0.3 per cent by 0825 GMT. Germany's DAX, the most sensitive to China due to its big exporters, fell 0.4 per cent. Read more

2:35 pm

Go virtual with your DigiLocker

 

Storing all your important documents, such as school certificates, Aadhaar, driving licence, in their physical forms in your cupboard could soon become passé, thanks to digital lockers. All you need to open a digital locker is a valid mobile number. The number is authenticated using a one-time password.  Read more

2:25 pm

Softbank IPO

 

SoftBank Corp has set an indicative price of 1,500 yen ($13.23) per share for its IPO, making the deal worth 2.4 trillion yen ($21.16 billion) in one of the world's biggest-ever listings. The price was unchanged from the initial estimate. Read more

 

2:15 pm

Benchmark indices were trading flat as investors remain wary ahead of July-September quarter GDP data to be released later today. According to a Reuters poll, India's economic growth moderated to 7.4 per cent during the quarter, just as Prime Minister Narendra Modi's government gets set for an election due by May 2019.

The Sensex was down 25.06 points or 0.07 per cent at 36,145.35 and the Nifty down 7.45 points or 0.07 per cent at 10,851.25.

Top five Sensex gainers were YES Bank, M&M, Wipro, Kotak Bank and Maruti, while the major losers were Tata Motors, NTPC, Vedanta, ICICI Bank and Bharti Airtel.

Top 10 Nifty gainers, losers

 

Asian shares twitched either side of flat, reflecting investors' nervousness ahead of talks between US President Donald Trump and China's President Xi Jinping that could determine whether the Sino-US trade war gets any worse.

2 pm

LNG prices on downward spiral

 

Asian spot prices for liquefied natural gas continued their downward spiral this week, falling to a four-month low, as demand from top buyers Japan and China failed to materialise amid ample inventory. Read more

1:45 pm

Nifty 50 December Futures (10,903)

 

Traders with a near-term view should tread with caution. The contract has significant support in the band between 10,875 and 10,880. As long as the contract trades above this base zone, the near-term outlook will remain positive. Read more

1:30 pm

Decoding tax on mutual funds

 

Retail investors in India have taken the mutual fund route to investing in a big way over the past few years. Sooner or later, many of them are likely to sell some or all of their fund units and will have to deal with the tax on their transactions. In this context, the amendments made in Budget 2018 are significant. Click here to read more

1:15 pm

When to withdraw your MF investments

 

When we see our money grow or incur a loss, we feel an impulse to protect the growth of our investment (fearing possible loss) or protect the money invested (fearing further losses). Does this mean that whenever you see your investments incur a gain or a loss, you should withdraw? It is not wise to impulsively act and withdraw your MF investment every time you see a gain or a loss. Click here to read more

1 pm

Benchmark indices were trading flat as investors remain wary ahead of July-September quarter GDP data to be released later today. According to a Reuters poll, India's economic growth moderated to 7.4 per cent during the quarter, just as Prime Minister Narendra Modi's government gets set for an election due by May 2019.

 

 

12:50 pm

Spot gold flat at $1,223.77

 

Gold prices were flat as the dollar steadied ahead of the G20 meet in Argentina this weekend, where US and Chinese leaders are scheduled to discuss trade matters after months of tensions. Spot gold was flat at $1,223.77 per ounce at 0126 GMT.  Read more

12:35 pm

Dollar treads water

 

The dollar trod water in a nervous trade ahead of a meeting of US and Chinese leaders that might, or might not, lead to a truce in the Sino-US trade war, which would boost emerging market currencies at the expense of safe havens. It held steady Asian trade, with an index measuring its value versus six peers up marginally at 96.72. Read more

 

12:25 pm

Top 10 Nifty gainers, losers

Sensex gainers, losers

 

12:10 pm

Domestic shares turned flat ahead of key economic growth data later in the day. Investors were awaiting the gross domestic product data which probably moderated to 7.4 per cent in the July-September quarter, according to a Reuters poll, just as Prime Minister Narendra Modi's government gets set for an election due by May. The data is expected by 1200 GMT.

That is still faster than China, but a come down from the more than two-year high of 8.2 per cent set in the June quarter and some economists foresee the slowdown continuing though to the election at least.

Asian markets wavered as investors remained cautious ahead of a crucial meeting between the Chinese and US presidents at the G20 meet during the weekend that could determine the course of a heated trade war over the next year. MSCI's broadest index of Asia-Pacific shares outside Japan wobbled between positive and negative territory in early trade and was last up 0.4 per cent.

“Decline in international crude oil prices and strengthening of rupee are the positives today,” said R K Gupta, managing director at Taurus Asset Management, adding that we may see some profit booking in the second-half after Thursday's rally in some specific stocks.

“Investors are also eyeing outcome of the G20 meet over the weekend,” he said. _ Reuters

11:55 am

Brent crude rises to $60 per barrel

 

Oil prices firmed on expectations that OPEC and Russia will agree some form of production cuts next week, although swelling US supplies kept markets in check. Brent crude oil futures were at $59.65 per barrel at 0533 GMT, up 14 cents, or 0.2 per cent, from their last close. Read more

11:45 am

Tata Motors drops 4%

 

Shares of Tata Motors Ltd fell as much as 3.9 per cent to Rs 170.35, their lowest level since October 29, as the company’s British unit Jaguar Land Rover is going to cut 500 jobs temporarily at its plant in central England. Read more

11:35 am

India expects more investments from Saudi Arabia

Prime Minister Narendra Modi meets Saudi Arabia Crown Prince Mohammed bin Salman on the sidelines of the G-20 summit in Buenos Aires. Photo credit: @narendramodi

 

India expects Saudi Arabia to ramp up investments in several sectors including technology, farm and energy over the next couple of years, a senior Indian official said, after a meeting between Saudi Crown Prince Mohammed bin Salman and Prime Minister Narendra Modi. Read more

11:25 am

BSE sectoral indices

Realty, healthcare, IT and auto remained investors' favourite, while infrastructure, PSU, power and banking succumbed to selling pressure.

 

 

Sensex gainers, losers

Top five gainers were YES Bank, M&M, Wipro, Maruti and Bharti Airtel, while the major losers were Tata Motors, NTPC, Coal India, ICICI Bank and ONGC.

 

11:15 am

The Sensex was trading higher by 174.18 points or 0.48 per cent at 36,344.59 and the Nifty up 45.4 points or 0.42 per cent at 10,904.10 on positive cues from other Asian bourses ahead of the two-day G20 summit. Strengthening of rupee to a 3-month high of 69.64 also boosted the domestic sentiment.

 

 

 

 

 

“Markets have been on a uptrend in November, with Nifty gaining 7-8 per cent from 10,100 levels. This is its highest gain in a month,” said Rahul Mishra, AVP (Derivatives), Emkay Global Financial Services.

Strengthening of rupee appreciation and crude oil prices provided a good support to the market, he added.

On a net basis, foreign portfolio investors bought shares worth Rs 823.47 crore and domestic institutional investors were net buyers to the tune of Rs 973.31 crore.

11:05 am

Vodafone Idea drops 5%

 

Vodafone Idea Ltd's shares dropped as much as 5 per cent to Rs 35.95, their lowest since October 25 as Crisil has downgraded its rating on Rs 6,000 crore non convertible debentures. Read more

10:50 am

NBFCs jump as RBI eases asset securitisation norms

 

Shares of non-banking financial companies gained as the Reserve Bank of India has relaxed the rules to sell or securitise their loan books to ease persistent stress in the sector. Dewan Housing Finance Corp Ltd rose as much as 7.4 per cent to Rs 214.8, while Indiabulls Housing Finance Ltd gained as much as 3.4 per cent to Rs 725. Read more

10:35 am

ICICI Pru files papers for theme-based schemes

 

ICICI Prudential Mutual Fund has files a draft paper with SEBI for three schemes — ICICI Bharat Consumption Fund, ICICI Prudential Commodities Fund and ICICI Prudential MNC Fund. The commodities fund will predominantly invests in companies engaged in commodity and commodity related sectors. Read more

10:20 am

I-Sec IPO case settled

 

ICICI Prudential Asset Management and its chief Nimesh Shah have settled a case with the market regulator SEBI in the matter of ICICI Securities public issue for ₹96.76 lakh. ICICI Pru AMC and Nimesh Shah preferred to settle the issue through consent mechanism, which SEBI has accepted. Read more

10:10 am

Rupee jumps to 3-month high

 

Rising for the fourth straight day, the rupee climbed 21 paise to a three month high of 69.64 against the US dollar in early trade due to weakening of dollar against other currencies overseas and a strong domestic equity market. Read more

9:55 am

Nikkei remains flat

 

Japan's Nikkei was flat as investors braced for the results of the weekend meeting between the leaders of the United States and China, while the steel sector was dragged down by a brokerage's downgrade. The Nikkei share average was flat at 22,261.92 at the midday break, after moved in and out of positive and negative territory. Read more

9:45 am

The S&P BSE Sensex was trading higher by 184.41 points or 0.51 per cent at 36,354.82 and the Nifty up 58.5 points or 0.54 per cent at 10,917.20 on heavy buying in realty, healthcare, IT and TECk stocks amid weak Asian cues.

 

 

Top five Sensex gainers were YES Bank, Wipro, M&M, HUL and Maruti, while the major losers were Tata Motors, NTPC, Vedanta, Adani Ports and Tata Steel.

 

Share markets ticked slightly lower in early Asian trade as investors await a closely watched meeting between the Chinese and US presidents in Argentina this weekend for signs of a trade war detente. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.1 per cent. In Japan, the Nikkei was up 0.2 per cent.

9.35 am

US stocks end lower

 

Wall Street had closed slightly lower on Thursday as tech and financial shares slumped, erasing earlier gains stemming from Federal Reserve minutes showing the central bank opened the debate on when to pause further interest rate hikes. Read more

9:25 am

Broker's call

Narnolia

NBCC (Accumulate)

CMP: ₹54.75

Target: ₹60

Read more

9:15 am

Opening bell

The 30-share BSE index Sensex opened higher by 129.99 points at 36,300.40 against the previous close of 36,170.41. The 50-share NSE index Nifty opened at 10,896.50, higher by 37.8 points, against the previous close of 10,858.70.

9:10 am

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:

₹2130 • HDFC Bank

S1

S2

R1

R2

COMMENT

2110

2090

2145

2160

Outlook is bullish for the stock. Utilise intra-day declines to buy the stock while retaining a stop-loss at ₹2,110 levels

 

₹659 • Infosys

S1

S2

R1

R2

COMMENT

650

640

670

680

Fresh long positions can be initiated with a fixed stop-loss if the stock rebounds up from ₹650 levels

 

₹287 • ITC

S1

S2

R1

R2

COMMENT

284

281

290

293

Initiate fresh long positions with a stiff stop-loss only if the stock of ITC moves beyond ₹290 levels

 

₹140 • ONGC

S1

S2

R1

R2

COMMENT

137

134

143

146

Fresh long positions are recommended with a tight stop-loss only if the stock of ONGC advances above ₹143 levels

 

₹1170 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1155

1140

1185

1200

Near-term stance is positive for the stock of RIL. Buy in declines while maintaining a stop-loss at ₹1,155 levels

 

₹286 • SBI

S1

S2

R1

R2

COMMENT

280

275

290

295

Consider initiating fresh long positions with a stiff stop-loss only if the stock of SBI moves beyond ₹290 levels

 

₹1959 • TCS

S1

S2

R1

R2

COMMENT

1940

1920

1980

2000

Fresh long positions can be initiated with a stiff stop-loss if the stock reverses higher from ₹1,940 levels

 

10855 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10800

10750

10900

10950

Initiate fresh long positions with a tight stop-loss if the contract rebounds up from 10,800 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 Minda Corporation at the current levels of ₹139.6. The short-term outlook is positive for the stock and it has potential to surpass the current resistance level. Targets are ₹145.5 and ₹148. Traders can buy with a stop-loss at ₹136.5. Read more

Published on November 30, 2018