Scan to Download
Nifty is in the middle of a correction up to 10,490-10,440 levels, Jai Bala of cashthechaos.com told BloombergQuint.
Support on downside for Nifty is in range of 10,615-10,440 levels while on the upside it faces resistance at 10,930, Bala said. He expects Nifty to touch record highs past 12,400-12,600 by middle of 2019.
Indian equity benchmarks extended losses dragged by Reliance Industries, Infosys and Maruti Suzuki.
The Sensex plunged 502 points or 1.4 percent to 35,381 and the NSE Nifty 50 index dropped 1.5 percent or 162 points to 10,622.
The market breadth was extremely negative as nearly 1,800 shares were declining while a little over 600 shares were advancing on the BSE.
Apollo Tricoat acquisition will benefit us as there is no other producer in the country using the Tricoat technology which results in lower costs in terms of zinc used and improves corrosive resistance ability of products, Ashok Gupta, MD of APL Apollo Tubes told BloombergQuint in an interview.
Key highlights of the conversation:
Buyers and sellers were not immediately known
Source: Bloomberg
Indian equity benchmarks continue to fall weighed down by Reliance Industries, Maruti Suzuki, Kotak Mahindra Bank and HDFC Bank.
The S&P BSE Sensex fell 394 points or 1.1 percent to 35,490 and the NSE Nifty 50 Index tumbled 1.2 percent or 129 points to 10,654.
All 19 sector gauges compiled by BSE were trading lower led by the S&P BSE Realty Index's 2.6 percent drop. As many as fourteen indices fell over a percent each.
The overall market breadth was extremely bearish as 1,625 shares were declining while a little over 550 shares were advancing on the BSE.
Shares of the Bengaluru-based IT company rose as much as 3.67 percent to Rs 309.45 after it signed an agreement to acquire Australia headquartered Microsoft Dynamics 365 partner, Scalable Data Systems.
Shares of the country's largest carmaker fell as much as 4.13 percent, its biggest single-day fall since Oct. 17, to Rs 7,242.
The company had informed yesterday that it would increase price of vehicles across categories starting January citing higher commodity prices and foreign exchange rates.
Maruti Suzuki has so far this year fallen 24 percent compared with 5.4 percent gain in the Sensex.
Click here to see the complete options chain
Shares of the Pune-based maker of pig iron and ferrous castings rose as much as 4.38 percent, the most in over a month, to Rs 93.
Kirloskar Ferrous has been selected as a preferred bidder for iron ore mine in Karnataka, the company said in an exchange filing.
Cabinet To Consider REC Stake Sale To PFC On Dec. 6
Shares of the Hyderabad-based construction company fell as much as 9.6 percent, the most since Oct. 1, to Rs 75.80 on heavy volumes.
Trading volume was more than five times its 20-day average, according to data compiled by Bloomberg.
Over 92 NCC lakh shares were traded on the National Stock Exchange as per the information on the NSE's website.
Shares of the Bengaluru-based software services company rose as much as 4.7 percent, the most in over a week, to Rs 911.95.
Mindtree’s largest investor and Café Coffee Day’s founder V.G. Siddhartha and a few other large shareholders are looking to offload their stakes in the company, reported Mint citing unnamed sources. Also, global private equity firm KKR has shown interest to purchase their stake.
Rupee opened lower at 70.79 per dollar against yesterday's close of 70.47.
The home unit fell as much as 0.55 percent or 39 paise to 70.86 against the greenback.
Sovereign bonds are expected to extend their rally after the central bank signaled it may expand debt purchases till March through open market operations. The rally in bonds saw yield on the benchmark note dropping to its lowest since April. Traders expect the yield on the 10-year note to stay in a range of 7.35-7.42 percent in the day.
In the currency market, the implied opening from forwards suggest the pair may open around 70.7625 to a dollar. With the risk appetite weak, the local currency may continue to stay under pressure today. Most Asian currencies too are trading in the red.
Traders expect the pair to stay in a range of 70.65-71 a dollar for the day.
Credit Suisse on Tractors
HSBC on UPL
JPMorgan on Aurobindo Pharma
Macquarie on Siemens
CLSA on HCL Tech
Inox Wind
Who’s Meeting Whom
Stocks
Currencies
Commodities
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
