MARKETS LIVE: Sensex, Nifty open at record highs; banking stocks fall
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SI Reporter |
New Delhi
Last Updated at October 27, 2017 09:44 IST
The benchmark indices opened at record highs tracking positive trend seen in
Asian markets after an upbeat session on
Wall Street overnight, while the euro hovered near three-month low against the dollar after the European Central Bank extended its stimulus.
Back home, banking stocks extended losses with the
Nifty Pvt Bank being the leading sectoral loser after
YES Bank tanked over 7% post its September quarter numbers.
ICICI Bank was also down ahead of its Q2 numbers.
Meanwhile, as many as 40 companies are likley to announce their quarterly results for the September quarter. These include ICICI Bank, ITC, Maruti Suzuki, IOC, Canara Bank, Sunteck Realty, Jubilant Industries, Tata Metaliks, Srikalahasthi Pipes, and Sundaram Finance, etc among others.
9:44 AM YES Bank tanks post Q2
While private sector lender YES Bank saw a 25% rise in net profit, backed by growth in net interest income and fees, it saw a rise in non-performing assets (NPAs) by Rs 6,355 crore as the Reserve Bank of India (RBI) asked it to restate bad loan figures for FY17. Reacting to this, the stock tanked nearly 10% to Rs 298 on the NSE and was the top Nifty loser. CLICK HERE FOR EARNINGS DETAILS
9:32 AM Sectoral trend
Source: NSE
9:28 AM Sensex heatmap at open
Source: BSE
9:25 AM
Markets open at record highs
The S&P BSE Sensex rallied as much as 123 points to hit its fresh high of 33270, while the Nifty50 gained 22 points to log its lifetime high of 10,366.
9:10 AM
Derivative Strategy on IDFC by HDFC Securities
Buy IDFC November 65 call at Rs 3.70
Stop loss: Rs 2.5
Target: Rs 7
Lot size: 13,200 shares
9:07 AM
Nifty outlook by Prabhudas Lilladher
Nifty has moved past the crucial resistance of 10,250, and has made a higher bottom formation in the daily chart showing potential and strength for further upside movement. As of now, the level of 10,125 would act as the major support for Nifty. However, the support for the day is seen at 10,290 while resistance is seen at 10,390.
READ MORE9:06 AM
Pre-open trade
At 9:05 am, the S&P BSE Sensex was trading at 33,225, up 78 points, while the broader Nifty50 was ruling at 10,371, up 27 points.
9:03 AM
Rollovers above averages, avoid shorting: Angel Broking
October series was indeed a Diwali bonanza for our markets as the benchmark index registered a fresh record high and achieved yet another milestone of 10,350.
Historically, whenever FIIs start selling in equities, markets tend to take it negatively; but, this time, history is not getting replicated. In fact, this entire selling has been completely overshadowed by the enormous and relentless buying from domestic institutions (DIIs). However, FIIs did participate in the recent rally by forming good amount of longs in index and stock futures last series. In addition, they also bought index call options along with writing in index puts; this clearly indicates they formed bullish bets in F&O space.
Now, Nifty Rollovers is at 72.69% which is above its three-month average of 65%; while, in terms of open interest as well it’s on the higher side. Thus, we believe major chunk of the longs formed in the last series has been rolled over, which suggests continuation of ongoing momentum. At current juncture, 10,500 call option is attracting traders attention; while, maximum concentration of open interest in puts is firmly placed at 10,000 strike.
9:02 AM
Rollovers
Marketwide rollovers to the November series stood at 81% compared with an average rollover of 78% seen in the last three F&O series. Nifty futures rollovers came in at 73% which were higher than 78% rollovers seen on an average in the last three series.
8:56 AM
Asian markets
Asian shares gained on Friday as technology shares were boosted by upbeat earnings from US hi-tech. Japan's Nikkei gained 0.6% while South Korea's Kospi rose 0.2% and Australian shares rose 0.2%. MSCI's broadest index of Asia-Pacific shares outside Japan was flat in dollar terms. Hong Kong's Hang Seng was up nearly 1%, while China's Shanghai Composite gained 0.2%.
8:46 AM
Wall Street update
The Dow and S&P 500 advanced on Thursday after a round of positive corporate earnings announcements, but gains were curbed and the Nasdaq lost ground on a drop in the healthcare sector.
The Dow Jones Industrial Average rose 71.61 points, or 0.31% to 23,401.07, the S&P 500 gained 3.26 points, or 0.13% to 2,560.41 and the Nasdaq Composite dropped 7.12 points, or 0.11% to 6,556.77.
8:46 AM
Singapore Nifty
At 8:45 am, SGX Nifty was trading at 10,394, up 20 points or 0.19%.
8:46 AM Good Morning!
Welcome to Business Standard's market liveblog.
First Published: Fri, October 27 2017. 09:17 IST
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