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| 19 September, 2020, 11:50 AM IST | E-Paper
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Economic Times | 07 Aug, 2020 | 03.12PM IST

Traders' Diary: Major hurdle is intact at 11,350 for Nifty

IT and financials lead the market rally as 23 of 30 Sensex stocks end the day in the green

!1 New UpdateClick here for latest updates
09:18 PM

Ahead of Market: 12 things that will decide stock action on Friday

Here’s a look at what some of the key indicators are suggesting for Friday's action
Ahead of Market: 12 things that will decide stock action on Friday
08:09 PM

Nifty will struggle to sustain t higher levels: Ajit Mishra, Religare Broking

"The buoyancy in the global markets is helping the index on every dip and this scenario may continue. However, we still feel that it would be difficult for the index to sustain at the higher levels, without the participation from the banking pack thus traders should keep a close eye on the banking index for cues. The major hurdle is intact at 11,350 in the Nifty. Traders should limit their leveraged trades and prefer index majors over the others for short term trading," Ajit Mishra, VP - Research, Religare Broking Ltd.
07:29 PM

Dow Jones opens slightly lower; fresh stimulus awaited

The Dow Jones Industrial Average fell 30.70 points, or 0.11%, at the open to 27,170.82. The S&P 500 opened lower by 4.46 points, or 0.13%, at 3,323.31. The Nasdaq Composite dropped 8.42 points, or 0.08%, to 10,989.98 at the opening bell.
Dow Jones opens slightly lower; fresh stimulus awaited
07:00 PM

Tech View: Nifty50 forms Doji candle; 10,250 level holds key

Analysts said the index may continue to face resistance in the 11,240-250 range, and a sustained move beyond this range could push Nifty to the recent swing high of 11,341.
05:03 PM

Vodafone Idea Q1 results: Loss widens to Rs 25,460 crore; ARPU at Rs 114

Exceptional loss includes integration and merger related cost, provisions, licence fees and SUC on AGR and one-time spectrum charges including interest. Revenue from operations of the firm declined 5.42 per cent YoY to Rs 10,659.30 crore.
Vodafone Idea Q1 results: Loss widens to Rs 25,460 crore; ARPU at Rs 114
03:42 PM

This is how the 30-pack Sensex moved in today's session. It touched a high of 38,221.40 and a low of 37,755.10 to finally settle at 38,025.45

This is how the 30-pack Sensex moved in today's session. It touched a high of 38,221.40 and a low of 37,755.10 to finally settle at 38,025.45
03:41 PM

CLOSING BELL: Sensex climbs 362 pts on RBI loan recast, Nifty ends at 11,200; Tata Steel climbs 4%, Infy 3%

  • IT and financials lead the market rally
  • 23 of 30 Sensex stocks end the day in the green
  • Index contributors: Infosys, HDFC Bank, TCS, ICICI Bank, RIL
  • Top Index gainers: Tata Steel (4.03%), Infosys (2.86%), Bajaj Fin (2.62%)
  • Top Index losers: Bharti Airtel (0.69%), M&M (0.48%), Axis Bank (0.38%)
  • All BSE indices except telecom, capital goods and power end the day in the green
  • S&P BSE Information Technology biggest sectoral gainer, up 2.21%
  • S&P BSE Telecombiggest sectoral loser, down 0.31%
  • Volume toppers: RIL, Bajaj Fin, HDFC Bank, SBI, TechM
CLOSING BELL: Sensex climbs 362 pts on RBI loan recast, Nifty ends at 11,200; Tata Steel climbs 4%, Infy 3%
03:07 PM

RBI shifts gear on NBFC liquidity concerns, says financing condtions in best shape since IL&FS implosion

“Market financing conditions for NBFCs, which had become challenging, have largely stabilised in the wake of targeted policy measures,” RBI Governor Shaktikanta Das said Thursday.
RBI shifts gear on NBFC liquidity concerns, says financing condtions in best shape since IL&FS implosion
02:51 PM

Here are the top losers in the auto sector

Price as on 06 Aug, 2020 02:51 PM, Click on company names for their live prices.
02:48 PM

MPC opens arms for the worst-hit MSME sector: Jimeet Modi

"RBI decision indicates that they are open to further reducing the cost of money, incase inflation rates cool down in the near term. The committee has taken a soft stance in the right direction to aid India’s worst hit MSME sector by making them eligible for one-time restructuring of loans. Various decisions such as no further extension in the moratorium period on loans and increase in the scope of restructuring of loans, demarcates RBI’s intention to maintain the integrity of Indian banking sector. In other countries, we have seen politics merging with monetary policy, but the RBI has clearly stood on merits without any political compulsion. Given the fluid situation across the world, they have indeed done what is best for Indian financial markets," said Jimeet Modi, Founder & CEO, Samco Group.
02:35 PM

Europe retreats as BoE forecast hits London stocks

European shares dipped on Thursday as forecasts of a slower post-pandemic economic rebound in the UK hit London stock markets, while disappointing quarterly updates from Glencore and AXA weighed on broader sentiment. The pan-European STOXX 600 index slipped 0.3%, with London's FTSE 100 .FTSE falling 1.4%.
02:32 PM

Forex Center: This is how the major currencies are faring against each other

Forex Center: This is how the major currencies are faring against each other
02:14 PM

Here are the top gainers & losers from the auto space

Price as on 06 Aug, 2020 02:14 PM, Click on company names for their live prices.
02:04 PM

Bank Nifty witnesses fresh strength

In the morning Bank Nifty had an open-high situation and drifted down. After the policy and some hesitation, the prices have picked up strongly. The 89-MA band has been crossed. Usually this band is a good trend tracker, crossing of it is a signal of further bullish intent.
Bank Nifty witnesses fresh strength
01:47 PM

Policy in line with expectations: Vinay Pai

"While RBI was watchful on inflation held rates for future date to use it judiciously, thier stance remained accommodative with the backdrop of low growth and expected lower inflation over medium term. This policy is in line with broad market expectations and continuation of earlier policies to provide more impetus to revive growth in view of pandemic," said Vinay Pai, Equirus Capital.
01:22 PM

We expect benign rate scenario to remain conducive for bonds: Lakshmi Iyer

"RBI's status quo on policy rate was on expected lines. Today’s inaction in no way suggests a U-turn in interest rate trajectory. The MPC members have been mindful of the recent spike in CPI inflation, hence the inaction seems valid. Growth worries remaining, the accommodative bias suggests scope for further easing as inflation recedes in the second half of Fy21. We expect benign rate scenario to remain conducive for bonds," says Lakshmi Iyer, Kotak Mahindra AMC.
01:02 PM

As the US Fed kept rates unchanged, it enabled us to retain our rates at current levels, which also helps lure foreign capital. The pause allowed RBI an opportunity to monitor upside risks to food inflation and cost push pressures from rise in fuel prices.

- Amar Ambani, Sr President & Institutional Research Head, YES Securities

01:00 PM

Sensex rises 500 points; RIL, HDFC Bank, IT stocks gain

Sensex rises 500 points; RIL, HDFC Bank, IT stocks gain
12:57 PM

Shaktikanta Das, RBI Guv

- New debt resolution window planned for corporates and individual borrowers.

12:51 PM

RBI allows recasting of loans

The RBi said it will allow restructuring of MSME debt until March 31, 2021. But the central bank did not comment on moratorium on loans that will end this month.
12:41 PM

Sensex volatile after RBI pause on rate cut

Sensex volatile after RBI pause on rate cut
12:37 PM

Manappuram Finance, Muthoot Finance advance up to 3% after RBI raised LTV on gold loans to 90%

Manappuram Finance, Muthoot Finance advance up to 3% after RBI raised LTV on gold loans to 90%
12:30 PM

Rs 10,000 cr for Nabard, NHB

In order to ease the woes of the realty sector and strengthening rural economy, the RBI said it will also provide Rs 10,000 crore liquidity to NABARD, NHB at repo rate.
12:29 PM

Expect FY21 GDP growth to be in negative zone: Shaktikanta Das, RBI Governor

12:25 PM

MPC felt that risks to food inflation remains, even as it expects favourable food inflation to emerge going ahead: Shaktikanta Das

MPC felt that risks to food inflation remains, even as it expects favourable food inflation to emerge going ahead: Shaktikanta Das
12:23 PM

No immediate reaction from market

Stock market didn’t have any immediate reaction as the outcome was on expected lines. Rate sensitive sectors traded without much change post the announcement. Nifty Bank was up 0.04 per cent while Nifty Realty was up 1.36 per cent.
12:17 PM

Space for further monetary policy action is available but advisable to be judicious

- Shaktikanta Das, RBI Governor

12:15 PM

High-frequency data levelled off due to reclamping of lockdowns

- Shaktikanta Das

12:15 PM

Inflation to remain high

Shaktikanta Das, the governor of RBI, said the committee sees headline inflation to remain elevated in Q2.
12:14 PM

Global economic activity has remained fragile: Shaktikanta Das

12:12 PM

Reverse repo rate at 3.35%

The committee also kept the reverse repo rate, the interest that banks earn when they park their money with RBI, unchanged at 3.35%.
12:07 PM

Repo rate unchanged at 4%

RBI Monetary Policy Committee has decided to maintain status quo and leave repo rate unchanged at 4%. It also maintained accommodative stance. All members voted unanimously for the decision.
11:46 AM

Adani Gas shares fall 3% as Q1 profit drops

Price as on 06 Aug, 2020 11:46 AM, Click on company names for their live prices.
11:39 AM

RBI's 3 big dilemmas today

Rate cut or not?
Inflation is on the rise, but the economic indicators showed signs of the revival trend tapering off in July after a strong recovery in May and June. While analysts are not too worried about 6 per cent-plus inflation for now, 115 basis points repo rate cuts and 155 basis points cuts in reverse repo since March have not boosted credit growth much, said analysts.

Moratorium extension?
The silver lining so far has been that banks reporting June quarter results are suggesting a drop in loan book under moratorium compared with March levels (moratorium 1.0), and banks are raising funds to meet future needs. That also is not without a caveat.

Loan restructuring?
A one-time restructuring would appear as an act of “kicking the can down the road”, Spark Capital said in a July note, adding that such an approach may well be inevitable given the uncertain cash flows in certain sectors.
11:35 AM

Punters bet on 21,230-21,970 range for Bank Nifty post policy today

Punters on Bank Nifty have sold significant amounts of at-the-money call and put at 21600 ahead of the RBI policy. The value of this 21600 straddle assumes the Bank Nifty could move in a 3.4% range from 21,230-21,970 today when the options expire.
10:55 AM

Bank stocks gain ahead of RBI money policy outcome

Price as on 06 Aug, 2020 10:55 AM, Click on company names for their live prices.
10:40 AM

Federal Bank to buy up to 4% stake in IDBI Federal Life at Rs 27.56/share: Agencies

10:22 AM

YES Sec maintains BUY call on Tata Consumer, raises target

"We retain our BUY rating despite the recent up move as we believe it is a solid medium to long term story with improving visibility of higher growth rates and better execution coupled with multiple margin levers driving higher return ratios. We increase our SOTP-based TP to Rs 490 from Rs 460 earlier given a 13% and 9% upgrade to our EPS estimates for FY21 and FY22 respectively, implying 44x P/E," YES Securities said.
10:18 AM

Titan poised for an upmove

Steady trends in Titan are now giving way to an upside breakout that is also accompanied by new momentum readings. Pattern breakout suggests that the upmove can be decent. The stock can run till Rs 1,200 levels.
Titan poised for an upmove
10:09 AM

We are extremely bearish on market: Avendus Capital

We are taking a little cautious stand because we are extremely bearish on the market, but we think before the market consolidates and moves up further, we will need to have a healthy correction. That is where we think the market is probably headed for in the extremely short term, said Vaibhav Sanghavi, Avednus Capital.
09:48 AM

Voda Idea, YES Bank, Tata Motors among most active stocks on NSE

Price as on 06 Aug, 2020 09:48 AM, Click on company names for their live prices.
09:31 AM

GIC, Oppenheimer, Fidelity among others to own HDFC shares

India’s biggest mortgage lender Housing Development Finance Corporation (HDFC) has launched its 14,000-crore fundraising programme on Wednesday, likely drawing bids from Singapore-based GIC, Oppenheimer and Fidelity.
09:25 AM

OPENING BELL: Sensex gains 190 points ahead of RBI outcome, Nifty50 tops 11,150; YES Bank rises 5%, ZEEL 2%

OPENING BELL: Sensex gains 190 points ahead of RBI outcome, Nifty50 tops 11,150; YES Bank rises 5%, ZEEL 2%
08:51 AM

Q1 results today

Vodafone Idea, Hindustan Petroleum Corporation Ltd (HPCL), Lupin, Adani Power, Adani Enterprises, Bayer Cropscience, HCL Infosystems, JK Tyre, Lemontree Hotels and Whirlpool of India are among companies that are slated to announce their June quarter earnings on Thursday.
08:50 AM

RBI policy outcome today

Governor Shaktikanta Das has a tough task at hands today. He needs to solve the growth-inflation dilemma and also take decisions on whether the country needs a moratorium extension for the second time. As some banks urged, the RBI Governor could also look into a different approach and announce a one-time loan restructuring to fix non-performing asset (NPA) problems that may soon creep in, as suggested by the RBI Financial Stability report, in the coming quarters.
07:14 AM

SGX Nifty signals positive start

Nifty futures on the Singapore Exchange traded 52 points, or 0.47 per cent higher at 11,168, in signs that Dalal Street was headed for a positive start on Thursday.
07:12 AM

Hong Kong, China stocks gain in early trade

Hong Kong stocks opened on a positive note Thursday boosted by vaccine hopes, while there was still optimism US lawmakers would hammer out a stimulus deal. The Hang Seng Index added 0.39 percent, or 98.90 points, to 25,201.44. The benchmark Shanghai Composite Index edged up 0.09 percent, or 3,20 points, to 3,380.76, while the Shenzhen Composite Index on China's second exchange was flat, inching up 0.92 points to 2,391.85.
07:11 AM

Tech view: Nifty50 forms bearish candle

Nifty50 on Wednesday could not stage follow-up buying after Tuesday’s gains, and ended flat. Selling pressure emerged as the index entered the resistance area in the 11,200-240 zone. Analysts said a decisive close above this range is a must for the index to resume the uptrend. A fall below the 11,900-850 range could trigger a steep fall, they said.
07:08 AM

Japan stocks open lower

Tokyo stocks opened lower on Thursday, shrugging off rallies on Wall Street, as investors digested US economic indicators, vaccine news, and earnings reports. The benchmark Nikkei 225 index was down 0.25 percent or 56.11 points at 22,458.74 in early trade, while the broader Topix index slipped 0.33 percent or 5.08 points to 1,549.63.
07:08 AM

US stocks rise amid earnings, mixed data

US stocks rallied on Wednesday as investors pored through a batch of earnings reports and economic data.The Dow Jones Industrial Average rose 373.05 points, or 1.39 per cent, to close at 27,201.52. The S&P 500 was up 21.26 points, or 0.64 per cent, to 3,327.77. The Nasdaq Composite Index increased 57.23 points, or 0.52 per cent, to 10,998.40,
07:06 AM

Rupee gains 10 paise to close at 74.94 against US dollar

The rupee rose by 10 paise to close at 74.94 against the US dollar on Wednesday tracking positive domestic equities and weak American currency. At the interbank forex market, the domestic unit opened strong at 74.93 against the US dollar and moved between a high of 74.83 and a low of 74.95 in the day trade.
07:05 AM

Sensex, Nifty on Wednesday

Domestic equity benchmarks Sensex and Nifty surrendered early gains to end flat on Wednesday as profit-booking emerged in market majors Reliance Industries and HDFC Bank. Investors also remained on the sidelines ahead of the RBI's monetary policy decision on Thursday, traders said. After rallying 452 points during the day, the BSE Sensex slipped in the red to end 24.58 points or 0.07 per cent lower at 37,663.33. The NSE Nifty inched up 6.40 points or 0.06 per cent to close at 11,101.65.
07:04 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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