MARKETS LIVE: Indices open flat on caution over North Korea missile test

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SI Reporter  |  New Delhi 

Market, Nifty, Sensex
Photo: Shutterstock

Benchmark indices open flat as Asian shares reversed earlier gains, held back by caution over the latest missile test by North Korea and concerns at recent softness in Chinese shares.

North Korea has fired an intercontinental ballistic missile which flew about 1,000 km before splashing down in the Sea of Japan, the US said on Wednesday.

This is the first such launch in two months which comes just a week after the US slapped fresh sanctions on the reclusive nation and declared it a state sponsor of terrorism.

However, the dollar held firm on Wednesday after Wall Street shot to record peaks amid signs of progress on U.S. tax cuts, while Bitcoin topped $10,000 on more exchanges as appetite for digital currencies showed no sign of fading.

Back home, Singapore's DBS Bank lowered India's GDP growth forecast for current fiscal to 6.6 percent from the previous 6.8%, citing that businesses were "still adjusting" to the new GST regime and there was "limited room" for fiscal support.

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9:34 AM

Indian economic growth set to end five-quarter slide: Reuters poll
 
Indian economic growth likely rebounded in the July-September quarter from the slowest growth in three years, with demand picking up modestly as the effects from a shock ban on high-value currency notes eased, a Reuters poll showed.

9:21 AM Sectoral Trend

Source: NSE

9:19 AM Top Sensex gainers and losers

Source: BSE

9:18 AM Broader Markets

In broader markets, BSE Midcap and BSE Smallcap indices were in line with the frontline indices, up 0.2% each

9:17 AM Markets Open

Benchmark indices open flat as Asian shares reversed earlier gains, held back by caution over the latest missile test by North Korea and concerns at recent softness in Chinese shares.

At 9:17 am the S&P BSE Sensex was trading at 33,660, up 41 points while the braoder Nifty50 index was ruling at 10,383, up 13 points

9:13 AM

Nifty outlook by Prabhudas Lilladher
 
Market is finding it difficult to comfortably move past 10,400 levels in Nifty and at regular intervals is subjected to profit booking. Bank nifty too moved towards 26,000 levels and eventually witnessed profit booking. The support for the day is seen at 10,320 while resistance is seen at 10,415.

9:11 AM

Top trading ideas from Prabhudas Lilladher
 
BUY INDIABULLS HOUSING FINANCE  
CMP: Rs 1,200.05      
TARGET: Rs 1,335     
STOP LOSS: Rs 1,150
 
BUY HDFC 
CMP: Rs 1,725.50     
TARGET: Rs 1,850     
STOP LOSS: Rs 1,670
 
BUY ALEMBIC 
CMP: Rs 41.05     
TARGET: Rs 45     
STOP LOSS: Rs 38.50

Click here for rationale

9:07 AM

Stock recos for today's trade by HDFC Securities
 
Buy Green Ply
CMP: Rs 323.5
SL: Rs305
Target: Rs 365
 
Buy Salzer Electric
CMP: Rs 219
SL: Rs 206
Target: Rs 240

9:03 AM

Hold longs on Nifty with a stoploss of 10,300: HDFC Securities
 
Nifty broke 8-day winning streak and closed with a loss of 29 points. Primary trend is still bullish and 10,300 is the level, which should be kept as a stop loss in trading long positions. Nifty has been facing resistance in the zone of 10,400-10,410 for last 3 sessions. Any level above 10,410 would extend the rally towards 10600 levels.

8:59 AM

Bitcoin at all-time high, tops $10,000 in some exchanges
 
Virtual currency bitcoin soared to an all-time high above $10,000 on Tuesday on some smaller exchanges and digital currency indexes, but remained just below that milestone in major trading platforms such as Luxembourg-based BitStamp.
 
Created in 2009, bitcoin uses encryption and a blockchain database that enables the fast and anonymous transfer of funds outside of a traditional centralised payment system.
 
It has soared more than 900% so far this year, posting the largest gain of all asset classes, amid increased institutional demand for crypto-currencies as financial and mainstream use has expanded. READ MORE

8:53 AM

SGX Nifty
 
The Nifty50 futures on the Singapore Stock Exchange were trading 18 points higher at 10388 indicating a positive opening for the domestic market.

8:47 AM

Asian Markets reverse gains
 
Asian share markets were not as jubilant, held back by caution over the latest missile test by North Korea and concerns at recent softness in Chinese shares.
 
MSCI’s broadest index of Asia-Pacific shares outside Japan was up just a fraction, while China’s blue chip index eased 0.5%.
 
Among the better performers, Japan’s Nikkei added 0.4%, while Australia’s main index rose 0.7%.

8:43 AM

North Korean ballistic missile lands in the Sea of Japan: US
 
North Korea has fired an intercontinental ballistic missile which flew about 1,000 km before splashing down in the Sea of Japan, the US said on Wednesday.
 
This is the first such launch in two months which comes just a week after the US slapped fresh sanctions on the reclusive nation and declared it a state sponsor of terrorism. READ MORE

8:38 AM

US markets end at record highs
 
Wall Street surged to record highs on Tuesday led by sharp gains in bank stocks. The Dow Jones Industrial Average rose 255.93 points, or 1.09%, to 23,836.71, the S&P 500 gained 25.63 points, or 0.99%, to 2,627.05 and the Nasdaq Composite added 33.84 points, or 0.49%, to 6,912.36. All three indexes ended at their respective record closing highs.

8:27 AM Good Morning!

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First Published: Wed, November 29 2017. 09:15 IST

MARKETS LIVE: Indices open flat on caution over North Korea missile test

Catch all live market action here

Catch all live market action here
Benchmark indices open flat as Asian shares reversed earlier gains, held back by caution over the latest missile test by North Korea and concerns at recent softness in Chinese shares.

North Korea has fired an intercontinental ballistic missile which flew about 1,000 km before splashing down in the Sea of Japan, the US said on Wednesday.

This is the first such launch in two months which comes just a week after the US slapped fresh sanctions on the reclusive nation and declared it a state sponsor of terrorism.

However, the dollar held firm on Wednesday after Wall Street shot to record peaks amid signs of progress on U.S. tax cuts, while Bitcoin topped $10,000 on more exchanges as appetite for digital currencies showed no sign of fading.

Back home, Singapore's DBS Bank lowered India's GDP growth forecast for current fiscal to 6.6 percent from the previous 6.8%, citing that businesses were "still adjusting" to the new GST regime and there was "limited room" for fiscal support.
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