11:59 AM Cipla top index gainer
Cipla surged 6% to Rs 575 on BSE after the company recorded EBITDA (earnings before interest, taxation, depreciation and amortization) margin expansion rose 160 bps to 18.3% in June quarter (Q1FY18), driven by strong focus on enhancing operational efficiency and control on spends. The stock was the top gainers on Sensex and Nifty. READ MORE
11:30 AM
Buzzing stock
11:05 AM
Markets check
At 11:00 am, the Sensex was trading at 31,433, up 219 points, while the broader Nifty50 was ruling at 9,782, up 71 points.
10:43 AM Buzzing stocks
Shares of Parsvnath Developers, Kavit Industries, Pincon Spirit and Signet Industries are locked in their respective lower circuits as trading resumed in these stocks after a gap of one week. Besides these four, Kalpana Industries and SQS India too plunged 20% in early morning trade on the BSE. CLICK HERE FOR FULL REPORT
10:32 AM
Edelweiss Securities on Sun Pharma
We envisage Sun TV to be beneficiary of Phase III & IV digitisation. Digitisation in Tamil Nadu is a key stock catalyst. Though the stock corrected 17.7% in past 2 months due to dip in Sun TV’s market share owing to intense competition from Star Vijay (has expanded market with non-fiction content), we believe this is temporary as Sun TV’s viewership is intact. At CMP, the stock trades at 23.1x FY18E and 20.7x FY19E EPS. We maintain ’BUY/SO’ with TP of Rs 1,024 (30x FY19E).
10:13 AM Sectoral trend
Nifty PSU Bank sole sectoral loser, down 0.2%.
Source: NSE
9:51 AM Earnings impact
SpiceJet added over 4% to Rs 120 after the airline recorded a profit of Rs 175.23 crore in the quarter ended June — a jump of 18% from Rs 149.03 crore in the corresponding period last year. The airline attributed it to a healthy passenger load and stronger yield. Average fare for the airline increased by nine per cent to Rs 3,943 from Rs 3,601 during the same period last year.
9:26 AM Earnings impact
Sun Pharmaceutical slipped over 3% to Rs 433 after the drug major reported a consolidated net loss of Rs 425 crore for the quarter ended June 30, mainly due to one-time exceptional item. The company had posted a net profit after taxes, share of profit/loss of associates, joint ventures and non-controlling interests of Rs 2,033.71 crore for the same period a year ago. CLICK HERE FOR DETAILED EARNINGS
9:22 AM Top Sensex gainers and losers
Source: BSE
9:19 AM
Broader markets
The BSE Midcap and the BSE Smallcap indices outperformed to add 1.4% each.
9:18 AM
Markets at open
At 9:18 am, the Sensex was trading at 31,370, up 156 points, while the broader Nifty50 was ruling at 9,769, up 58 points.
9:14 AM Stocks in news
SpiceJet, Tata Steel, DLF, Divi's Labs, Fortis Healthcare, Dollar Industries and Uniply Industries etc
9:12 AM Earnings today
Coal India, Dredging Corp, Grasim, Jain Irrigation Systems, JK Tyres, NBCC, Patel Engineering, IDBI Bank, and Infibeam Incorporation
9:08 AM Pre-open trade
At 9:05 am, the Sensex was trading at 31,275, up 61 points, while the Nifty was ruling at 9,755, up 44 points in pre-open trade.
9:06 AM
Nifty outlook by Angel Broking
We believe that the much awaited correction is in the early stages now and we would continue to see market remaining under pressure for next few weeks. Immediately, the daily ’89 EMA’ level of 9,600-9,580 is to be tested soon. Since, it’s a major level in the near term; the index may respect it for a while. But, eventually, after a minor bounce back or consolidation, we expect the index to sneak below it. Traders are repeatedly advised to remain light and avoid taking undue risks as individual stocks may continue correcting in next few days. On the flipside, 9,770-9,852 is likely to act as a strong resistance zone in the near term.
9:03 AM
Nifty view by Vaishali Parekh of Prabhudas Lilladher
There is a Doji formation in the daily chart of Nifty which can trigger a trend reversal but however, it has broken the support of 9,820 decisively and technically, since the sentiment has weakened, more space on the downside is visible before any possibility of revival happens.
READ MORE9:01 AM
Technical picks
8:59 AM
Commodity picks
8:56 AM
IIP output hits four-year low
Industrial output in the country slipped into negative territory in June, dragged down by a contraction in manufacturing, apart from an unabated fall in capital goods. Figures for the Index of Industrial Production (IIP), released by the government on Friday, showed national factory output contracting by 0.1% a 48-month low, as compared to the 2.7% rise seen in the previous month of May.
CLICK HERE FOR FULL REPORT
8:53 AM Wall Street update
The three major US stocks indexes ended higher on Friday, snapping three days of losses, as investors bet on slower US rate hikes, but gains were muted by increasingly aggressive exchanges between the United States and North Korea. The Dow Jones Industrial Average rose 14.31 points, or 0.07% to 21,858.32, the S&P 500 gained 3.11 points, or 0.13% to 2,441.32 while the Nasdaq Composite added 39.68 points, or 0.64% to 6,256.56.
8:51 AM Asian markets
Asian stocks were positive. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.7%. The index had fallen for three straight days previously, losing a combined 3%, on escalating tensions between the United States and North Korea. Australian stocks rose 0.5% and South Korea's KOSPI climbed 0.4%. Hong Kong's Hang Seng was up 0.8% and Shanghai added 0.2%. Japan's Nikkei bucked the trend and fell 1 percent as a stronger yen overshadowed much better-than-expected second quarter economic growth.
8:48 AM Singapore Nifty
At 8:45 am, the SGX Nifty, Nifty futures listed on the Singapore Stock Exchange, was trading at 9787.75, up 27.75 points or 0.28%.
8:45 AM Good Morning!
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