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MARKETS LIVE: Key things to watch before the opening bell

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SI Reporter  |  New Delhi 

Markets, Stocks, BSE, NSE

News Watch Sugarcane price arrears to farmers at nearly Rs 140 billion Sugar mills owed nearly Rs 140 billion to sugarcane farmers at the end of January in the ongoing marketing season, the government said on Tuesday. Sugar marketing year runs from October to September. READ MORE Funds bought record Rs 1.3 trillion stocks so far this financial year Equity fund managers, flush with strong domestic inflows, have invested a record Rs 1.3 trillion in stocks so far this financial year. The tally is more than double that in 2016-17. READ MORE Today's picks: From Airtel to HUL, hot stocks to watch on Wednesday Bharti Airtel Current price: Rs 413 Target price: Rs 402 Keep a stop at Rs 416 and go short. Add to the position between Rs 404 and Rs 405. Book profits at Rs 402.  CLICK HERE FOR MORE Rich get richer as booming stock markets swell ranks of the ultra-wealthy   Stronger global growth and booming stock markets have been great for the super rich. The number of people with more than $50 million of net assets rose 10 percent last year, the fastest pace in at least five years in 2017, according to a report published Wednesday by broker Knight Frank LLP. READ MORE Top stocks to look out for BUY BPCL CMP: Rs 445.20 TARGET: Rs 490 STOP LOSS: Rs 430 The stock has given a decent correction from the peak of Rs 494 and has made a bottom formation pattern at around Rs 424 levels and currently has regained momentum to indicate strength and potential to cruise further in the coming days.   The indicators like RSI has been on the rise to confirm a positive bias while the MACD also has indicated a trend reversal to signal a buy. With good volume participation, we recommend a buy in this stock for an upside target of Rs 490 keeping a stop loss of Rs 430. CLICK HERE TO READ MORE Support for Nifty seen at 10,180, resistance at 10,300: Prabhudas Lilladher   Technically, now Nifty has broken the major support level of 10,280 in the daily chart and has opened the new support level of 10,100 which is also more or less where the significant moving average of 200 DMA lies. The pessimism has crept in with the Banking counters looking weak and we anticipate further selloff in the coming days. However, the support for the day is seen at 10,180 while the resistance is seen at 10,300.

The domestic indices are likely to open on a cautious note on Wednesday taking cues from recent developments in the banking sector. That apart, global developments will also keep sentiment in check.

On Tuesday, banking shares were under pressure with Nifty PSU bank index hitting 52-week low of 2,917 on the National Stock Exchange (NSE). The index fell below its earlier low of 2,928 recorded in October 19, 2017 in intra-day trade.

Bank of India, Canara Bank, Union Bank of India, Allahabad Bank and Andhra Bank from the Nifty PSU Bank index touched their respective 52-week lows on the NSE in intra-day trade.

As a part of investigation into the PNB scam, ICICI Bank chief Chanda Kochhar and Axis Bank's Shikha Sharma have been summoned by an anti-fraud agency in the bank fraud case involving jeweller Nirav Modi and his partner and uncle Mehul Choksi. ICICI Bank is believed to have extended a loan of Rs 10 billion and Axis Bank Rs 7 billion last year to Gitanjali Gems of Choksi.

GLOBAL MARKETS

Global stocks and the dollar slumped on Wednesday after a key advocate for free trade in the White House announced his resignation, fanning fears that US President Donald Trump would go ahead with tariffs and risk a trade war.

MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.25 per cent, while  Japan’s Nikkei retreated 0.2 per cent.

South Korea’s KOSPI bucked the trend and rose 0.3 per cent amid a perceived easing of regional tensions, following news on Tuesday that South Korea would hold its first summit with the North in more than a decade.

The Dow Jones Industrial Average rose 9.36 points, or 0.04 per cent, to close at 24,884.12, the S&P 500 gained 7.18 points, or 0.26 per cent, to 2,728.12 and the Nasdaq Composite added 41.30 points, or 0.56 per cent, to 7,372.01.

(with inputs from Reuters)

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First Published: Wed, March 07 2018. 08:15 IST

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MARKETS LIVE: Key things to watch before the opening bell

Catch all the market action here.

Catch all the market action here. The domestic indices are likely to open on a cautious note on Wednesday taking cues from recent developments in the banking sector. That apart, global developments will also keep sentiment in check.

On Tuesday, banking shares were under pressure with Nifty PSU bank index hitting 52-week low of 2,917 on the National Stock Exchange (NSE). The index fell below its earlier low of 2,928 recorded in October 19, 2017 in intra-day trade.

Bank of India, Canara Bank, Union Bank of India, Allahabad Bank and Andhra Bank from the Nifty PSU Bank index touched their respective 52-week lows on the NSE in intra-day trade.

As a part of investigation into the PNB scam, ICICI Bank chief Chanda Kochhar and Axis Bank's Shikha Sharma have been summoned by an anti-fraud agency in the bank fraud case involving jeweller Nirav Modi and his partner and uncle Mehul Choksi. ICICI Bank is believed to have extended a loan of Rs 10 billion and Axis Bank Rs 7 billion last year to Gitanjali Gems of Choksi.

GLOBAL MARKETS

Global stocks and the dollar slumped on Wednesday after a key advocate for free trade in the White House announced his resignation, fanning fears that US President Donald Trump would go ahead with tariffs and risk a trade war.

MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.25 per cent, while  Japan’s Nikkei retreated 0.2 per cent.

South Korea’s KOSPI bucked the trend and rose 0.3 per cent amid a perceived easing of regional tensions, following news on Tuesday that South Korea would hold its first summit with the North in more than a decade.

The Dow Jones Industrial Average rose 9.36 points, or 0.04 per cent, to close at 24,884.12, the S&P 500 gained 7.18 points, or 0.26 per cent, to 2,728.12 and the Nasdaq Composite added 41.30 points, or 0.56 per cent, to 7,372.01.

(with inputs from Reuters)
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Business Standard
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MARKETS LIVE: Key things to watch before the opening bell

Catch all the market action here.

The domestic indices are likely to open on a cautious note on Wednesday taking cues from recent developments in the banking sector. That apart, global developments will also keep sentiment in check.

On Tuesday, banking shares were under pressure with Nifty PSU bank index hitting 52-week low of 2,917 on the National Stock Exchange (NSE). The index fell below its earlier low of 2,928 recorded in October 19, 2017 in intra-day trade.

Bank of India, Canara Bank, Union Bank of India, Allahabad Bank and Andhra Bank from the Nifty PSU Bank index touched their respective 52-week lows on the NSE in intra-day trade.

As a part of investigation into the PNB scam, ICICI Bank chief Chanda Kochhar and Axis Bank's Shikha Sharma have been summoned by an anti-fraud agency in the bank fraud case involving jeweller Nirav Modi and his partner and uncle Mehul Choksi. ICICI Bank is believed to have extended a loan of Rs 10 billion and Axis Bank Rs 7 billion last year to Gitanjali Gems of Choksi.

GLOBAL MARKETS

Global stocks and the dollar slumped on Wednesday after a key advocate for free trade in the White House announced his resignation, fanning fears that US President Donald Trump would go ahead with tariffs and risk a trade war.

MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.25 per cent, while  Japan’s Nikkei retreated 0.2 per cent.

South Korea’s KOSPI bucked the trend and rose 0.3 per cent amid a perceived easing of regional tensions, following news on Tuesday that South Korea would hold its first summit with the North in more than a decade.

The Dow Jones Industrial Average rose 9.36 points, or 0.04 per cent, to close at 24,884.12, the S&P 500 gained 7.18 points, or 0.26 per cent, to 2,728.12 and the Nasdaq Composite added 41.30 points, or 0.56 per cent, to 7,372.01.

(with inputs from Reuters)

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Business Standard
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