MARKETS LIVE: Nifty nears 9,800 ahead of F&O expiry; Sun Pharma top loser

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SI Reporter  |  New Delhi 

markets, stocks, sensex, nifty, bse, nse

The benchmark indices extended losses on Wednesday with Nifty50 slipping below its crucial 9,850 mark ahead of the derivative expiry of September series due on Thursday. Mixed trend seen in Asian markets, which hovered near multi-week lows as tensions in the Korean peninsula remain elevated, also contributed to the losses. 

Trump warned on Tuesday that any US military option would be “devastating” for Pyongyang, but said the use of force was not Washington’s first option to deal with the country’s ballistic and nuclear weapons programme.

Investors also remained cautious as risks grew for a US interest rate hike in December after Chair Janet Yellen warned it would be “imprudent” to keep policy on hold until inflation is back to 2%. 

Investors lifted the probability of a rate hike in December to 78% from 72% late last week, fed fund futures suggested. 

12:25 PM

Use arbitrage funds to park short-term money
 
Arbitrage funds are gaining in popularity among investors, as is evident from the growing assets under management (AUM) of this category. Seventeen funds had a cumulative AUM of Rs 43,651 crore at the end of August, an increase of 36 per cent over a year. In a declining interest rate environment, knowledgeable retail investors might consider investing in these. READ FULL ANALYSIS

12:01 PM Buzzing stocks 

MOIL and Manpasand Beverages were down 3% each on the BSE after the two stocks traded at their adjusted price of 1:1 bonus shares. READ MORE

MOIL
MOIL

11:46 AM

Soon, trade in commodities at a nearby bank
 
Soon, your neighbourhood banker would be able to offer you trading in derivatives of gold, crude oil or even some of the agricultural commodities. The Reserve Bank of India (RBI) has opened the way for large banks to enter commodity broking services, through subsidiaries. The move could help substantially expand the client base of the commodity derivatives market, at a time it is bringing in new products such as options. READ FULL REPORT

11:06 AM

Broader markets pare gains
 
BSE Midcap and the BSE Smallcap indices pared morning gains to slip 0.5% and 0.1%, respectively.

11:05 AM Markets check

At 11:00 am, the S&P BSE Sensex was trading at 31,399, down 200 points, while the broader Nifty50 was ruling at 9,807, down 64 points. 

10:44 AM

Buzzing stock
 
Petron Engineering Construction is locked in upper circuit for the third straight session, up 5% at Rs 147 on BSE, extending its past two days 9% gain, after the company said it has received purchased order worth of Rs 280 crore from JSW Steel. READ MORE

10:30 AM

Trading strategies for a falling rupee
 
There are fundamental reasons why the rupee might slide more versus euro, pound and above all, the dollar. Real rupee interest rates would reduce if domestic inflation rises and the Reserve Bank of India  (RBI) doesn’t raise policy rates. CLICK HERE TO READ MORE

10:16 AM

New kid on the block 
 
ICICI Lombard General Insurance Company listed at Rs 650, 2% lower that its initial public offer (IPO) price of Rs 661 per share on the BSE. The stock listed at Rs 651 on the National Stock Exchange (NSE). Post listing, the stock hit a high of Rs 655 and a low of Rs 638 on BSE so far. CLICK HERE FOR FULL REPORT

ICICI Lombard

10:00 AM

Rupee extends weakness
 
After opening higher, rupee depreciated 10 paise to 65.54 against Tuesday's closing of 65.45 against dollar.

9:48 AM Buzzing stock 

Sun Pharma slipped over 2% to Rs 490 after the pharma major's 25th Annual General Meeting held on Tuesday. The stock was the top loser on Sensex and Nifty.

sun pharma

9:38 AM

India's share in global m-cap at 7-month low
 
Recent fall in rupee and stocks pushes down ranking; Nifty is down around 5% in dollar terms so far this month. CLICK HERE FOR FULL REPORT

9:31 AM

Broader markets outperform
 
The BSE Smallcap index added nearly 1%, while the BSE Midcap index was up 0.4%. 

9:26 AM Nifty Pharma index leading sectoral loser 

The index was down nearly 1%, led by losses in Divi's Labs and Sun Pharma. 

pharma
Source: NSE

9:22 AM Sensex heatmap at open 

heatmap
Source: BSE

9:20 AM Markets at open 

At 9:18 am, the S&P BSE Sensex was trading at 31,634, up 34 points, while the broader Nifty50 was ruling at 9,876, up 4 points. 

9:12 AM

Stocks in news
 
ICICI Lombard, YES Bank, Coal India, Reliance Power, Reliance Securities, Divi's Labs, Dr Reddy's, Aurobindo Pharma and Den Networks 

9:09 AM

Nifty outlook by Angel Broking
 
The kind of activity that we saw yesterday provides a lot of credence to the 9,800 mark. This was evident as the expiry factor came into picture and it seems the Nifty is reluctant to slip below this support level in the current expiry.
 
The overall trend remains weak but we believe that the index is likely to consolidate in a range of 9,800-9,950 before resuming its corrective move. For the coming session, 9,890-9,950 would be seen as a resistance zone.

9:06 AM Pre-open trade

At 9:05 am, the S&P BSE Sensex was trading 178 points higher at 31,778, while the Nifty50 was ruling at 9,923, up 52 points. 

9:03 AM

Rupee opens stronger
 
Rupee appreciated by 10 paise to 65.35 against Tuesday's closing on 65.45 against dollar. 

Rs, rupee, currency, note

8:58 AM

Technical calls 
 
Buy Arvind, Apollo Tures and Hindalco, says Prabhudas Lilladher. CLICK HERE FOR DETAILS 

technicals

8:56 AM

Trading calls
 
Buy Atul Auto
 
CMP: Rs 471
Stoploss: Rs 448
Target: Rs 520
 
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8:54 AM

Nifty outlook by HDFC Securities
 
Next support for the Nifty is seen at around its 100-DMA, which is placed around 9,730. Previous bottom on the daily chart is seen at 9,685, which can also act as a support. Primary trend of the Nifty is bullish, but short term trend has turned negative. It would be advisable for traders not to initiate aggressive longs unless Nifty surpasses the resistance of 10,000. 

8:52 AM

Rollovers
 
Market-wide rollover of September F&O contracts came in at 37% till Tuesday, which was in line with the average rollovers of 36% seen in last three series. Nifty rollovers stood at 31% and were also in line with the average rollovers of last three months. 

8:50 AM Asian markets

Asian stocks hovered near multi-week lows as tensions in the Korean peninsula remain elevated. MSCI’s broadest index of Asia-Pacific shares outside Japan was off 0.1% at three-week lows following bellicose statements by Trump and North Korean leader Kim Jong Un. 
 
Even a softer yen could not stop Japan's Nikkei slipping 0.5%, while Australia's main index eased 0.1%. Hong Kong's Hang Seng index gained 0.4%, while China's Shanghai Composite remained little changed. 

8:47 AM

Wall Street on Tuesday

The S&P 500 ended flat on Tuesday and the Nasdaq posted modest gains as technology shares bounced from sharp losses in the prior session and comments from Fed Chair Janet Yellen boosted expectations of a December rate hike.
 
The Dow Jones Industrial Average fell 10.05 points, or 0.05% to 22,286.04, the S&P 500 gained 0.23 points, or 0.01% to 2,496.89 and the Nasdaq Composite added 9.57 points, or 0.15% to 6,380.16.

8:40 AM

Singapore Nifty
 
At 8:40 am, SGX Nifty was trading at 9,899, up 43 points or 0.43%.

8:40 AM Good Morning!

Welcome to Business Standard's market liveblog. 

First Published: Wed, September 27 2017. 10:42 IST

MARKETS LIVE: Nifty nears 9,800 ahead of F&O expiry; Sun Pharma top loser

Catch all live market action here

Catch all live market action here
The benchmark indices extended losses on Wednesday with Nifty50 slipping below its crucial 9,850 mark ahead of the derivative expiry of September series due on Thursday. Mixed trend seen in Asian markets, which hovered near multi-week lows as tensions in the Korean peninsula remain elevated, also contributed to the losses. 

Trump warned on Tuesday that any US military option would be “devastating” for Pyongyang, but said the use of force was not Washington’s first option to deal with the country’s ballistic and nuclear weapons programme.

Investors also remained cautious as risks grew for a US interest rate hike in December after Chair Janet Yellen warned it would be “imprudent” to keep policy on hold until inflation is back to 2%. 

Investors lifted the probability of a rate hike in December to 78% from 72% late last week, fed fund futures suggested. 
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