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Economic Times | 22 Oct, 2020 | 08.03AM IST

Traders' Diary: Nifty key support exists at 11,777-11,750 levels

Financials lead the market rally as 21 of 30 Sensex stocks end the day in the green

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09:38 PM

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

Keshav Lahoti of Angel Broking said, market action for the next few days will be dependent on the result announcement, global cues and news around the relief package planned by the Government.
Ahead of Market: 12 things that will decide stock action on Thursday
07:58 PM

Why analysts are upbeat on Bajaj Finance even after its Q2 results missed St estimates

Near term profits and asset quality could be impacted due to pandemic but the business strengths of the company will help it overcome these headwinds.
Why analysts are upbeat on Bajaj Finance even after its Q2 results missed St estimates
07:28 PM

Dow Jones muted with eyes on stimulus

The Dow Jones Industrial Average fell 38.13 points, or 0.13%, at the open to 28,270.66. The S&P 500 opened lower by 3.21 points, or 0.09%, at 3,439.91, while the Nasdaq Composite gained 13.90 points, or 0.12%, to 11,530.39 at the opening bell.
Dow Jones muted with eyes on stimulus
06:54 PM

F&O: Nifty range widens to 11,600-12,100; VIX must cool down below 19 for market stability

The index formed a Dragonfly Doji candle with a long lower shadow on the daily scale, indicating that declines are being bought in the market. Nifty continued its winning streak for the fourth consecutive session and managed to recover a big bearish candle made last Thursday. Overall, the price and data setup suggested that a bounce may be seen, but multiple hurdles and supply pressure at higher zones may restrict the upside momentum.
F&O: Nifty range widens to 11,600-12,100; VIX must cool down below 19 for market stability
06:09 PM

Bajaj Finserv Q2 results: Net profit drops 18% to Rs 986 crore

The holding company, which runs various financial services businesses under the Bajaj group, said its total revenue from operations came in at Rs 15,049.60 crore, 5.82 per cent higher from Rs 14,221.9 crore a year ago.
Bajaj Finserv Q2 results: Net profit drops 18% to Rs 986 crore
05:44 PM

Tech View: Nifty forms long lower shadow on candles; 12,000 key level to watch

Commenting on the huge swing during the day, Milan Vaishnav, Consulting Technical Analyst and Founder, Gemstone Equity Research and Advisory, said, “The strike of 12,000 continued to hold the maximum concentration of Call OI despite the market moving past that level briefly. This led to profit-taking from a higher level.”
Tech View: Nifty forms long lower shadow on candles; 12,000 key level to watch
05:34 PM

Surge in Q2 provisions hurts Bajaj Finance's bottomline: Key takeaways

Bajaj Finance posted a 35.94 per cent year-on-year (YoY) drop in net profit at Rs 964.88 crore for the quarter ended September 30.
Surge in Q2 provisions hurts Bajaj Finance's bottomline: Key takeaways
05:08 PM

Nifty has strong support at 11,800-11,750: Sumeet Bagadia, Choice Broking

It was a roller coaster ride as the benchmark index chopped its momentum from day high to day low though the backward streak didn’t last for long and we saw a good recovery in the Nifty with the help of a few large cap counters. Finally, the benchmark index settled its closing at 11,937 level with the gain of 40 points while the Bank Nifty index settled its closing at 24,635 level with the gain of 323 points. At present level, Nifty has strong support at 11,800-11,750 while upside resistance comes at 12,025 levels, said Sumeet Bagadia, Executive Director, Choice Broking.
04:47 PM

Sensex rebounds on gains in HDFC twins, rises for 4th day in a row

“Reliance Industries contributed most of the fall in index due to dispute in Future group deal and high valuation. We expect the market to remain volatile in the near future as market has digested a lot about the results and as we near the US election date,” said Vinod Nair, Head of Research at Geojit Financial Services.​​
Sensex rebounds on gains in HDFC twins, rises for 4th day in a row
03:42 PM

This is how the 30-pack Sensex moved in today's session. It touched a high of 40,976.02 and a low of 40,150.48 to finally settle at 40,707.31

This is how the 30-pack Sensex moved in today's session. It touched a high of 40,976.02 and a low of 40,150.48 to finally settle at 40,707.31
03:41 PM

CLOSING BELL: Sensex extends winning run to fourth day, ends 163 points higher in volatile trade; Nifty ends shy of 11,950; Airtel gains 4%

  • Financials lead the market rally
  • 21 of 30 Sensex stocks end the day in the green
  • Index contributors: HDFC Bank, HDFC, ICICI Bank, Airtel, Infosys
  • Top Index gainers: Power Grid (4.64%), Airtel (3.54%), Tatak Steel (2.77%)
  • Top Index losers: TCS (2.17%), HCL Tech (1.60%), Nestle (1.54%)
  • S&P BSE REALTY biggest sectoral gainer, up 4.39%
  • S&P BSE Energy biggest sectoral loser, down 1.01%
  • Volume toppers: RIL HDFC Bank, Bajaj Finance, Infosys, SBI
CLOSING BELL: Sensex extends winning run to fourth day, ends 163 points higher in volatile trade; Nifty ends shy of 11,950; Airtel gains 4%
03:17 PM

Sensex sees smart recovery, up 200 points after falling nearly 400 points.

Sensex sees smart recovery, up 200 points after falling nearly 400 points.
02:53 PM

UltraTech Cement Q2 Results: Net profit jumps 113% YoY to Rs 1,234 crore

UltraTech Cement reported a 113 per cent jump in its net profit at Rs 1,234 crore for the September quarter. The company had reported a net profit of Rs 579 crore a year ago. The cement maker’s net sales rose 7.8 per cent to Rs 10,231 crore, from Rs 9,486 crore. It reported robust operating margins at 27 per cent, driven by both revenue growth and tight cost management.
UltraTech Cement Q2 Results: Net profit jumps 113% YoY to Rs 1,234 crore
02:45 PM

Sensex plunges 750 points from day's high; what's spooking D-St?

"A weak start for European markets weighed on Indian indices. Plus, lately, the earnings have not been as good as what the first batch of companies announced, which has hit sentiments,” said Deepak Jasani, Head of Retail Research, HDFC Securities.​​
Sensex plunges 750 points from day's high; what's spooking D-St?
02:37 PM

Here are the top gainers in the real estate sector

Price as on 21 Oct, 2020 02:37 PM, Click on company names for their live prices.
02:12 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
02:11 PM

DB Corp Q2 net profit falls 62% to Rs 28.52 crore

Media group DB Corp on Wednesday reported a 62.26 per cent fall in consolidated net profit at Rs 28.52 crore in the second quarter ended on September 30, 2020, on account of lower revenue from operations. The company had reported a net profit of Rs 75.57 crore in the July-September quarter a year ago. Revenue from operations during the quarter under review was down 34.82 per cent at Rs 346.36 crore as against Rs 531.39 crore in second quarter of 2019-20, DB Corp said in a regulatory filing.
02:01 PM

Most tourism and hospitality stocks up 1-2%. Here are the top gainers.

Price as on 21 Oct, 2020 02:01 PM, Click on company names for their live prices.
01:54 PM

Top 10 losers at this hour

Price as on 21 Oct, 2020 01:54 PM, Click on company names for their live prices.
01:42 PM

Top Sensex drags: RIL, TCS, HUL

Top Sensex drags: RIL, TCS, HUL
01:21 PM

Sensex drops 200 points from day's high

Sensex drops 200 points from day's high
01:02 PM

Recovery in markets after pandemic shock is broad-based: Sebi chief

As criticism mounts about there being a disconnect between the equity markets and the economy, Sebi chairman Ajay Tyagi on Wednesday said there are some positive aspects as well in it, and termed the recovery in the capital markets as broad-based. “We have observed that recovery has been broad-based. It is not just large caps but the mid and small cap shares have also recovered,” Tyagi said.
12:43 PM

Barring EIH, all tourism & hospitality stocks trade in the green

Price as on 21 Oct, 2020 12:43 PM, Click on company names for their live prices.
12:17 PM

Alembic Pharma gets USFDA nod for cholesterol lowering drug

Drug firm Alembic Pharma on Wednesday said it has received approval from the US health regulator for Fenofibrate capsules, which reduces cholesterol and triglycerides in blood. The approved product is therapeutically equivalent to the reference listed drug product Tricor Micronized Capsules of AbbVie Inc.
12:05 PM

Zee may be getting ready to rally: CK Narayan

The stock was on the verge of decline earlier but it seems to have pulled back just in the nick of time. On Ichimoku charts, we find the CS line is taking nice support at the clouds and the stock also formed a positive candle. It looks like a rally may be getting launched here.
Zee may be getting ready to rally: CK Narayan
11:52 AM

Equitas SFB retail quota fully subscribed

By 11.47 am, Equitas SFB IPO had received bids for 5,58,34,200 shares compared with the issue size of 11,58,50,001 shares. Bidding was seen by retail individual investors (RIIs), whose quota was subscribed 1.04 times.
11:44 AM

Vedanta rises 3% after Hindustan Zinc dividend payout

Shares of Vedanta rose nearly 3 per cent on Wednesday after its subsidiary Hindustan Zinc announced a dividend of Rs 21.30 per share on the previous day. The payout to Vedanta, which holds 64.92 per cent stake in the company as of September 30, will be Rs 5,843 crore. This is a relief for the company which needs cash at this point to pay off its debts.
11:37 AM

SBI announces concession in home loan rates by up to 25 bps

Price as on 21 Oct, 2020 11:37 AM, Click on company names for their live prices.
11:28 AM

Most tyre stocks trade in the green

Price as on 21 Oct, 2020 11:28 AM, Click on company names for their live prices.
11:04 AM

Traders can buy gold at Rs 50,900 with the stop loss of Rs 50,650 for the target of Rs 515,00. They can also buy silver at Rs 63,200, with the stop loss of Rs 62,400 and for the target of Rs 64,400. In the international market, we expect gold may test $1,950 and silver may test $26.50 soon.

- Anuj Gupta, DVP- Commodities and Currencies Research, Angel Broking

10:56 AM

L&T bags multiple orders across business verticals

Infrastructure company Larsen & Toubro (L&T) on Wednesday said it has received multiple orders across various business segments in the domestic market. The company did not provide the value of the contracts but said the orders fall under the "large" category, which ranges between Rs 2,500 crore and Rs 5,000 crore according to its classification of contracts.
10:46 AM

In the new-normal WFH scenario, Infosys is leading from the front in adopting technologies to ensure seamless connectivity to both its employees, and clients. We remain bullish on its growth story and retain our BUY with a revised target of Rs 1,319 based on 26 times FY22E EPS.

- Geojit Financial Services

10:32 AM

Buy MCX Dec Gold at Rs 50,800; Target: Rs 51,200 | Stop loss: Rs 50,650 (Kotak Securities)

MCX GOLD has been trading in a rising triangle with support pegged at Rs 50,540. The price has been making higher highs and higher lows indicating bull strength. Immediate resistance is at Rs 51,200 which would be the initial price objective, the bulls would target for the day. Sustenance above Rs 51,200 might push the price to Rs 51,600. Momentum Oscillator is above the midline supporting the bull case.
10:29 AM

Equitas SFB IPO subscribed 43% so far

The Rs 518 crore initial public offer (IPO) by Equitas Small Finance Bank was subscribed 43 per cent on Day 2 of the bidding process so far. The issue was subscribed 39 per cent by the end of the first day.
10:14 AM

HUL slips following its Q2 earnings report

Price as on 21 Oct, 2020 10:14 AM, Click on company names for their live prices.
10:07 AM

Ahead of Q2 earnings...

Price as on 21 Oct, 2020 10:07 AM, Click on company names for their live prices.
09:48 AM

At this stage, we do not see a need to change our estimates and believe CCL Products remains on track to deliver 12% earnings growth in FY21 followed by a strong 23% growth in FY22. We reiterate our BUY rating with a target price of Rs 344 based on 20 times FY22E earnings.

- Yes Securities

09:45 AM

Gold prices edge higher, top Rs 51,000

Gold and silver prices were trading with gains in Wednesday's session tracking the trend in international markets as the probability of an early economic stimulus from the US increased. The White House and Democrats in the US Congress moved closer to agreement on a fresh coronavirus aid as President Donald Trump said he was willing to accept a large aid bill despite opposition from his own Republican Party. Gold futures on MCX were up 0.27 per cent or Rs 137 at Rs 51,047 per 10 grams. Silver futures rose 0.60 per cent or Rs 381 to Rs 63,505 per kg.
09:39 AM

Nifty reclaims 12,000 mark

Nifty reclaims 12,000 mark
09:22 AM

Voda Idea, Vedanta, YES Bank among most active stocks on NSE

Price as on 21 Oct, 2020 09:22 AM, Click on company names for their live prices.
09:22 AM

OPENING BELL: Sensex rises 290 points, Nifty above 11,970; OMC stocks gain up to 4%, Hindustan Zinc 3%

OPENING BELL: Sensex rises 290 points, Nifty above 11,970; OMC stocks gain up to 4%, Hindustan Zinc 3%
09:15 AM

Pre-open session: Sensex gains 222 points, Nifty tops 11,950

09:14 AM

Podcast: All the news you need to start your day

07:34 AM

Equitas SFB IPO subscribed 39% on Day 1

The initial public offer of Equitas Small Finance Bank was subscribed 39 per cent on the first day of bidding on Tuesday. The Rs 517-crore IPO received bids for 4,54,01,850 shares against 11,58,50,001 shares on offer, as per data available with the NSE. Non institutional investors category was subscribed 3 per cent and retail individual investors 85 per cent.
07:24 AM

SGX Nifty signals positive start

Nifty futures on the Singapore Exchange traded 24 points, or 0.36 per cent higher at 11,931.50, in signs that Dalal Street was headed for a positive start on Wednesday.
07:22 AM

Oil falls after US inventory build feeds oversupply fears

Oil prices fell on Wednesday after a surprise climb in US crude stockpiles added to concerns about a global supply glut as a spike in global COVID-19 cases fuels demand fears and production returns in Libya. Brent crude futures for December delivery were at $42.94 a barrel, down 22 cents, or 0.5%, as of 0035 GMT, while December US WTI crude futures slipped 23 cents, or 0.7 per cent, to $41.47 a barrel.
07:21 AM

Tech View: Nifty forms small bullish candle

The index formed a small bullish candle on the daily chart with a long upper wick, as it could not hold above the key resistance at 11,950. A breach of the 11,950-12,025 zone would be crucial for the index to see further upside, analysts said. Any strong downside looks unlikely for now, they added.
07:19 AM

Asian shares gain in early trade

Asian stocks rose on Wednesday after renewed US stimulus hopes helped Wall Street higher, although wobbles in the tech sector could keep a lid on investor sentiment. Australian stocks opened slightly higher while MSCI's gauge of stocks across the globe was roughly flat. Japan's Nikkei 225 was up 0.25 per cent at 23,626.80. The Hang Seng index gained 0.51 per cent, or 126 points, to 24,695.54.
07:16 AM

US stocks settled higher

Wall Street shares closed higher on Tuesday on growing optimism that US lawmakers are nearing a deal on a stimulus package aimed at cushioning the economic shock from the coronavirus pandemic. The S&P 500 rose 16.20 points, or 0.5 per cent, to 3,443.12. The Dow Jones Industrial Average index gained 113.37 points, or 0.4 per cent, to 28,308.79. The Nasdaq composite added 37.61 points, or 0.3 per cent, to 11,516.49.
07:14 AM

Rupee falls 12 paise on dollar buying by banks, fiscal concerns

The rupee on Tuesday depreciated by 12 paise to close at 73.49 against the US currency due to dollar buying by state-run banks amid increased forex infolws. Capital inflows and strong domestic equities, however, limited the local currency's losses. The Indian currency opened at 73.36 at the interbank forex market and moved in the range of 73.29 to 73.53 in a volatile trade during the day.
07:13 AM

Sensex, Nifty on Tuesday

Equity benchmarks Sensex and Nifty notched up gains for the third straight session on Tuesday, led by IT stocks and HDFC Bank amid a rebound in the global markets. The 30-share BSE Sensex settled 112.77 points or 0.28 per cent higher at 40,544.37. The broader NSE Nifty rose 23.75 points or 0.20 per cent to 11,896.80.
07:12 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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