Closing bell:
Taking cue from the global markets, the benchmark indices today started on a positive note, despite being in the red yesterday. The indices gained throughout the day.
BSE Sensex rose to 167.19 points to end at 30,196.17. Meanwhile, NSE Nifty advanced 55.85 points to 8,879.10. The two indices were in green territory throughout the day, but trimmed gains in post-noon session. Auto, Media and Metal ended in green, whereas Banks, Pharma, Realty stopped in red. Bharti Airtel, ONGC were the top gainers, whereas UPL, Hindustan Unilever were the top laggards.
3.20 pm
Mahindra & Mahindra Ltd announced an array of new finance schemes in a bid to ease the burden on customers during these challenging times.
These finance schemes include customized, industry-first offerings that assure peace of mind for Mahindra customers, deliver financial flexibility and empower them to own their desired Mahindra vehicle model at their convenience, the company said in a release.
Rupee close:
Rupee settles 25 paise higher at 75.66 (provisional) against US dollar.
BSE stock update:
NSE Update:
Nifty call:
Tracking the bullish global markets, Sensex and Nifty began the session with a gap-up open and continued to trade in the positive territory. The US stock indices- Dow Jones and S&P 500 jumped 3.8 per cent and 3.1 per cent respectively, in the last session.
Sensex and Nifty have advanced 1.9 per cent and 2 per cent, respectively so far. The market breadth of the Nifty index is biased towards advances.
Strategy: Make use of intra-day dips to buy with a fixed stop-loss at 8,935 levels.
Supports: 8950 and 8,900
Resistances: 9,000 and 9,035
News Update :
Super cyclone Amphan (pronounced as Um-Pun) has picked up speed and started moving to North-North-East, throwing hints that it would also weaken around in the process. India Meteorological Department (IMD) expects it to wind down back as an extremely severe cyclone by this afternoon/evening. Read more about it here.
Announcement:
Infrastructure firm KEC International on Tuesday said it has bagged orders worth ₹1,203 crore across various businesses.
In a statement, the RPG group company said the power transmission and distribution segment, its T&D business and SAE Towers have secured orders worth ₹917 crore for transmission and distribution (T&D)projects in India, Bangladesh, Africa and the Americas.
Stock update:
Shares of Bharti Airtel zoomed 10 per cent after the company reported consolidated revenue of ₹23,722.7 crore during the reported quarter on broad-based strength, with all segments registering healthy underlying growth.
Its stock surged 9.99 per cent to ₹591.95 -- its 52-week high -- on the BSE. On the NSE, it jumped 9.99 per cent to its one-year high of ₹591.85. Bharti Airtel was the top gainer on both Sensex and Nifty during early trade.
BSE, NSE cut annual listing fee for SMEs by 25%
The Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) decided to reduce the listing fee for their SME platforms by 25 per cent amid challenges faced by small and medium enterprises due to coronavirus pandemic.
The fee rebate has been declared following Finance Minister Nirmala Sitharaman’s several announcements to rescue the ailing micro, small, and medium enterprises (MSME) sector.
NSE Nifty Bank update:
Rupee open:
Rupee rises 20 paise to 75.71 against US dollar in early trade.
BSE update:
Broker's call: ABB India (Buy)
CMP: ₹800.35
Target: ₹970
9.55 am
Oil market update:
Oil prices rose, extending gains for a fourth straight session, amid signs that producers are cutting output as promised just as demand picks up, stoked by more countries easing out of curbs imposed to counter the coronavirus pandemic.
Brent crude climbed $0.85, or 2.4 per cent, to $35.66 a barrel by 0033 GMT, after touching its highest since April 9.
U.S. West Texas Intermediate crude was up $1.30, or 4.1 per cent, at $33.12 a barrel, after hitting its highest since March 16.
Asia market update:
Asian shares jumped and oil extended gains on optimism the global economy would recover quickly following a successful early-stage trial of a coronavirus vaccine, while the euro hovered near a two-week top.
MSCI's broadest index of Asia Pacific shares outside of Japan rose 1.5% to two-week highs. Read more here.
Opening bell:
After a close in negative territory yesterday, the markets today opened on a positive note.
The BSE Sensex opened at 30,456.77, up 427.79 or 1.42 per cent. Meanwhile, NSE Nifty started at 8,945.75, up 122.50 or 1.39 per cent. Even though the banks were under pressure yesterday, today they opened on a positive note. Auto and Metal also is supporting the growth in the market today.
Today's stock pick: Cummins India
Investors with a short-term perspective can sell the stock of Cummins India at current levels. The stock had encountered a key resistance at ₹425 in late April this year and began to decline, resuming the medium-term downtrend.
Since recording a high of ₹652 in late January this year, the stock has been in a medium-term downtrend. But it registered a 52-week low at ₹281 in early April and was on a corrective rally until late April high. For the past one month, the stock has been in a short-term downtrend. Read more on this technicals here.
9.05 am
Day Trading Guide
₹836 • HDFC Bank
S1 | S2 | R1 | R2 | COMMENT |
825 | 805 | 847 | 860 | Near-term stance is bearish for the stock. Go short with a fixed stop-loss if it fails to move beyond ₹847 levels |
₹663 • Infosys
S1 | S2 | R1 | R2 | COMMENT |
653 | 645 | 675 | 685 | Fresh long positions are recommended with a tight stop-loss only if the stock of Infosys rallies above ₹675 |
₹164 • ITC
S1 | S2 | R1 | R2 | COMMENT |
162 | 159 | 166 | 169 | Consider initiating fresh long positions with a fixed stop-loss if the stock advances above ₹166 levels |
₹72 • ONGC
S1 | S2 | R1 | R2 | COMMENT |
70 | 67 | 75 | 78 | Initiate fresh short positions while maintaining a fixed stop-loss if the stock of ONGC reverses down from ₹75 levels |
₹1440 • Reliance Ind.
S1 | S2 | R1 | R2 | COMMENT |
1420 | 1400 | 1460 | 1480 | Fresh short positions are recommended with a stiff stop-loss if the stock of RIL falls below ₹1,420 levels |
₹155 • SBI
S1 | S2 | R1 | R2 | COMMENT |
150 | 145 | 160 | 166 | Near-term outlook is bearish for SBI. Make use of intra-day rallies to initiate fresh short positions with fixed stop-loss |
₹1944 • TCS
S1 | S2 | R1 | R2 | COMMENT |
1922 | 1900 | 1970 | 1990 | Make use of intra-day declines to buy the stock of TCS while retaining a fixed stop-loss at ₹1,922 levels |
8825 • Nifty 50 Futures
S1 | S2 | R1 | R2 | COMMENT |
8750 | 8675 | 8900 | 9000 | Consider initiating fresh short positions with a tight stop-loss if the contract declines below 8,750 levels |
S1, S2 : Support 1 & 2; R1, R2: Resistance 1 & 2.