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Economic Times | 14 Jun, 2019 | 08.38PM IST

Traders’ Diary: Nifty has support at 11,650 level

Domestic equity barometer Sensex fell for the third consecutive session on Friday, mirroring similar trends in global markets.

!1 New UpdateClick here for latest updates
06:55 PM

ETMarkets Evening Podcast: What may guide your market next week

06:53 PM

On Monday, Nifty may register a breakdown from the narrow range on the weekly charts, if it slips below 11,769 level. In such a scenario, a correction shall get accentuated further. If the bulls manage to defend this level, then the consolidation will continue with an initial target of 11,930

- Mazhar Mohammad, Chartviewindia.in

06:45 PM

Nifty recorded a close at 11,823, below the required 11,830, suggesting the fall would accelerate. The near-term oscillators are in sell mode and the index is likely to slide towards 11,765 and subsequently to 11,500 levels

- Arun Kumar, Market Strategist, Reliance Securities

06:13 PM

FII outflows totalled $285 million for the past five days, while DII outflows stood at$26 million for the same period. We advise investors to be selective in stock selection. Key events to look forward to would be the Fed meeting in June and Budget in early July

- Sanjeev Zarbade, Vice President – PCG Research, Kotak Securities

06:11 PM

We observed a formation of head and shoulder type pattern as per daily timeframe chart (not a classical one) with the neckline placed at 11,770. Hence, a decisive move below this neckline support could open up a potential downside pattern target of 11,525 in the near term (this pattern could activate only on a decline below the support of 11,770)

- Nagaraj Shetti - Technical Research Analyst, HDFC securities

05:49 PM

As long as Nifty holds below 11,888, Nifty could extend its weakness towards the lower band of the support range at 11,761 and then see a fresh decline towards 11,660 level, while on the upside immediate hurdles are seen at 11,965 and then 12,000 levels

- Chandan Taparia, Technical & Derivative Analyst, MOFSL

05:33 PM

Investors remained cautious after media reports said India will impose retaliatory tariffs on 29 US products. Global uncertainties remains the key risk to equities though market would also react to initial policy signals, especially Union Budget. We maintain positive stance on the market and focus on stocks with good management and relatively strong balance sheet

- Hemang Jani, Head - Advisory, Sharekhan

04:58 PM

Ripple effect from a weak global markets while premium valuation and slow economy is hurting the market. Continuous exchange of words between the US and Tehran regarding the oil tanker attack, progress of US-China trade-war, Fed policy outcome and progress of monsoon will be closely watched by the investors. The market is cautious awaiting these important events while companies highly leveraged are being mostly impacted

- Vinod Nair, Head of Research, Geojit Financial Services

04:56 PM

The market is dancing to the global tunes and we do not see this changing anytime soon, in the absence of any major local trigger. Nifty could see further fall if it fails to hold 11,800 and the next crucial support will be at 11,650. We advise keeping positions on both sides while maintaining focus on stock selection

- Jayant Manglik, President - Retail Distribution, Religare Broking

03:59 PM

Sensex tanks 289 pts in late selloff; Nifty barely holds above 11,800

03:41 PM

CLOSING BELL: Private lenders hit hard as Sensex tanks 289 pts in late selloff; Nifty barely holds above 11,800; Jet, RCap drop 12% each

CLOSING BELL: Private lenders hit hard as Sensex tanks 289 pts in late selloff; Nifty barely holds above 11,800; Jet, RCap drop 12% each
03:29 PM

Reliance Capital, Jet Airways among top 10 NSE losers

Price as on 14 Jun, 2019 03:29 PM, Click on company names for their live prices.
02:51 PM

Podcast: Why you should not shun debt funds now

02:48 PM

Gold futures surge on fresh bets

Gold prices edged up by Rs 331 to Rs 33,290 per 10 gram at futures trade Friday on firm demand by local jewellers at the spot markets in tandem with positive global sentiments.
02:13 PM

Mentha oil slips in futures trade on muted spot demand

Mentha oil prices slipped in futures trade on Friday as muted demand by consuming industries at spot markets weighed on the commodity. Speculators trimmed positions in mentha oil futures due to a fall in demand from consuming industries at the spot market against adequate supplies from key producing regions.
01:58 PM

IEA cuts 2019 estimate for oil demand growth on global economy worries

The outlook for oil demand growth in 2019 has dimmed due to worsening prospects for world trade, the IEA said, although stimulus packages and developing countries should boost growth going into 2020. The Paris-based IEA, which coordinates the energy policies of industrial nations, revised down its 2019 demand growth estimate by 100,000 barrels to 1.2 million barrels per day (bpd), but said it would climb to 1.4 million bpd for 2020.
01:45 PM

Moody's upgrades Adani Transmission rating outlook to stable from negative

Price as on 14 Jun, 2019 01:45 PM, Click on company names for their live prices.
01:44 PM

YES Bank hits lowest valuation in over 10 years

YES Bank hits lowest valuation in over 10 years
01:28 PM

These stocks defy market trend, jump up to 25%

Price as on 14 Jun, 2019 01:28 PM, Click on company names for their live prices.
01:24 PM

Chipmakers drag European shares lower after Broadcom shock

Technology shares led European shares lower after US chipmaker Broadcom warned of a broad slowdown in demand due to trade tensions and the US ban on Chinese tech and mobile phone company Huawei Technologies. The pan-European STOXX 600 index fell 0.38 per cent by 0707 GMT, with Germany's trade-sensitive DAX falling 0.40 per cent.
12:47 PM

The global investors in particular, are now looking at India as one of the very-very few economies where there is going to be a political as well as economic stability over the next five years. I think that is what the elections have done to the markets. Obviously there are newer challenges but I think the big-big event is behind us now.

- Sunil Singhania, Founder, Abakkus Asset Manager

12:13 PM

May WPI inflation dips on MoM basis

WPI Inflation At 2.45% vs 3.07% MoM
May WPI inflation dips on MoM basis
11:51 AM

ONGC sells naphtha at lowest premium since December

Oil & National Gas Corp (ONGC.NS) has sold a naphtha cargo at close to $6 a tonne over Middle East quotes on a free-on-board (FOB) basis, the lowest premium in more than five months, industry sources said on Friday. ONGC sold 35,000 tonnes of the petrochemical feedstock for June 20-21 loading from Mumbai on Thursday to Japan’s Marubeni Corp (8002.T), said the sources who track naphtha deals. (Source: Reuters)
11:34 AM

Adani Gas rises 7% on report France's Total close to buying 30% stake

Shares of gas distributor Adani Gas rose as much as 6.7 per cent to Rs 180, their highest since June 4. French energy giant Total SA is close to buying a 30 per cent stake in Adani Gas for upwards of Rs 5500 crore ($790.51 million), The Times of India reported on Friday, citing people directly aware of the matter. The deal is likely to be announced shortly and expected to trigger an open offer to public shareholders.
11:33 AM

145 stocks hit 52-week lows on NSE

Around 145 stocks fell to touch their 52-week lows on NSE in Friday's session.

Among the stocks that touched their 52-week lows were Aban Offshore, Atlas Cycles, Balaji Telefilms, Bayer Cropscience, Biocon, Borosil Glass Works, Central Bank of India, Cox & Kings, DHFL and Clerx Services.

Emami Paper Mills, Emami Realty, Glenmark Pharmaceuticals, Jet Airways, Lakshmi Machine Works, Manpasand Beverages, Muthoot Capital Services, Reliance Capital Reliance Infrastructure and Yes Bank also featured among the stocks that touched their 52-week lows on NSE.
11:08 AM

Sandip Sabharwal makes a case for cutting individual & corporate tax rates

11:06 AM

Aurobindo Pharma drops 5% on USFDA observations

Shares of Aurobindo Pharma declined 4.83 per cent to Rs 605.90 in Friday's session after USFDA pointed out data integrity lapses at the company's finished dosages plant at Bachupally in Telangana.

The FDA issued Form 483 with 10 observations to Aurobindo Pharma on the plant which was audited by the US drug regulator between May 13 and May 24, PTI reported on Thursday.

Laboratory records do not include complete data derived from all tests, examinations and assay necessary to assure compliance with established specifications and standards, US FDA said.
11:06 AM

Hexaware Technologies jumps 4% after acquiring Mobiquity

Shares of Hexaware Technologies climbed nearly 4 per cent to Rs 358.55 in Friday's session after it announced the acquisition of Mobiquity Inc for about $182 million.

Headquartered in the US, Mobiquity is one of the largest independent customer experience consulting firms that specialize in creating frictionless multi-channel digital experiences using cloud technologies.

This is the largest acquisition by mid-size IT firm Hexaware and the combined entity aims to directly compete with large digital agencies and consulting firms.
10:52 AM

Jet plunges over 13%, hits all-time low

  • Shares of Jet Airways tanked over 13 per cent to hit an all time low of Rs 79.65 in Friday's session after reports that DGCA has cancelled critical authorisations to Jet Airways’ engineering department.

  • ET reported, quoting sources, that India’s aviation regulator has cancelled critical authorisations to Jet Airways’ engineering department, rendering the grounded airline defunct and unable to carry out any maintenance work on aircraft.

  • The action taken by the Directorate General of Civil Aviation (DGCA) will impact the airline’s most critical assets, its planes, which are in constant need of maintenance and preservation even as they are grounded.
10:48 AM

Podcast: Let's talk business & markets

10:41 AM

DRL to sell 2 neurology branded products to Upsher-Smith Labs for over $110 mn

Price as on 14 Jun, 2019 10:41 AM, Click on company names for their live prices.
10:25 AM

Rel Cap, Rel Home Finance plumb fresh 52-week lows

Hitting their fresh 52-week lows, shares of Reliance Capital fell nearly 7 per cent to Rs 78.10 while those of Reliance Home Finance declined over 4 per cent to Rs 14.30 in Friday's session.

Both stocks looked set to extend their losing streak to third consecutive session amid reports that Sebi and the Ministry of Corporate Affairs are looking into the sudden resignation of PWC as auditor of Reliance Capital and Reliance Home Finance and have asked the stock exchanges to collect all necessary information including trade details and statements made by the three entities.
10:13 AM

Gruh Finance tanks 7% on block deals; HDFC likely seller, Blackstone buyer

Shares of Gruh Finance tumbled 7 per cent in Friday’s trade amid block deals on the counter.

This is after ET reported that mortgage lender HDFC was likely to sell 4.2 per cent stake in the subsidiary to comply with the requirements laid down by the Reserve Bank of India for facilitating the proposed merger of the housing finance arm with Bandhan Bank.

Sources told ETNow that Blackstone is likely the main buyer. ICICI Prudential Life, HDFC AMC, Aditya Birla SL AMC are among other buyers, the report suggested.
09:35 AM

Gruh Finance, RCom, YES Bank among most active stocks on BSE

Price as on 14 Jun, 2019 09:35 AM, Click on company names for their live prices.
09:19 AM

OPENING BELL: Sensex flat, Nifty tests 11,900; Gruh Finance, Jet Airways drop 6% each

OPENING BELL: Sensex flat, Nifty tests 11,900; Gruh Finance, Jet Airways drop 6% each
09:03 AM

Pre-open session: Sensex gains 60 pts, Nifty flat

Sensex gains 60 pts, Nifty flat; rupee trades at 69.54 against dollar.
08:10 AM

Singapore trading sets stage for weak start

Nifty futures on the Singapore Exchange were trading 25 points, or 0.21 per cent, lower at 11,895, indicating a weak start for Dalal Street.
08:10 AM

Tech view: Nifty forms Hammer candle

Nifty50 on Thursday made a smart intraday recovery to settle higher, forming a bullish candle on the daily chart that resembled a ‘Hammer’. Analysts said followup buying is needed for any confirmation of the positive trend. A fall below Thursday’s low of 11,817 could bring in weakness, they said.
08:10 AM

Asian shares flat

Asian stocks held their ground on Friday after Wall Street gained on a surge in oil prices. MSCI's broadest index of Asia-Pacific shares outside Japan was little changed. Australian stocks edged up 0.05 per cent while Japan's Nikkei dipped 0.1 per cent.
08:09 AM

Brent eases a bit after Thursday's rally

Brent crude futures were down 17 cents, or 0.3 per cent, at $61.14 a barrel. They settled up 2.23 per cent on Thursday, at $61.31, having risen as much as 4.5 per cent. The attacks on tankers near Iran and the Strait of Hormuz countered concerns about global demand that had hammered prices in recent weeks, analysts told Reuters.
08:09 AM

US stocks ended higher

In overnight trade, the Dow Jones Industrial Average gained 101.94 points, or 0.39 per cent, to 26,106.77. The S&P500 index jumped 11.80 points, or 0.41 per cent, to 2,891.64. The Nasdaq Composite Index rose 44.41 points, or 0.57 per cent, to 7,837.13.
08:09 AM

WPI inflation data today

Wholesale Price Index (WPI) inflation is likely to moderate to 2.43 per cent in May from 3.07 per cent earlier on a high base, said Normal Bang Institutional research. Core WPI inflation is seen moderating to 1.5 per cent from 2.18 per cent on easing commodity prices and high base.
08:09 AM

Sebi tightens disclosure norms for raters

The Securities and Exchange Board of India (Sebi) on Thursday tightened rules for credit rating agencies (CRAs), asking them to assign probabilities of default to different baskets of rated debts.
08:09 AM

DIIs sell Rs 445 cr worth equities

Foreign portfolio investors (FPIs) bought Rs 172.35 crore worth of domestic stocks on Thursday, data available with NSE suggested. DIIs were net sellers to the tune of Rs 445 crore, data suggests.
08:08 AM

Sensex on Thursday

The 30-pack index settled at 39,741, down 15 points or 0.04 per cent. NSE’s Nifty, however, managed to shut shop in the black at 11,914, up 8 points or 0.07 per cent. India VIX eased 3.61 per cent to 13.61.
08:07 AM

Good Morning, dear reader! Here's something to kickstart your trading day

Good Morning, dear reader! Here's something to kickstart your trading day
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