Scan to Download
An investor must turn sector-specific as September quarter earnings season kicks off on Wednesday. That’s according to Gaurang Shah, head investment strategist, Geojit Financial Services
"An investor should channelise all his investments towards long-term view at the fallback of earnings," said Shah in an interview to BloombergQuint. "Stick to quality and buy quality," he said.
Shares of the private lender jumped 9 percent intraday to Rs 45.95 apiece.
Yes Bank is in talks with three top technology companies, including Microsoft Corp. to bring one of them on board as a strategic investor, according to a Livemint article. The new investor may bring in fresh capital infusion and augment the bank’s digital ambitions, the report added,
However, the bank said it was not aware of the source which resulted in the abovementioned news item, in an exchange filing. The bank would not like to comment on such news, it added.
The stock traded 85 percent below the Bloomberg one-year consensus target price.
Indian equity indices traded higher led by a rally in private banks and Britannia Industries.
The S&P BSE Sensex rose 0.28 percent to 37,779.79 and the NSE Nifty 50 declined 0.10 percent to 11184.75. The broader markets represented by the NSE Nifty 500 Index fell 0.48 percent.
Though benchmark index is trading at strong support zone of 11,150 levels, buying can be placed around the five-day moving average of 11,320 levels, said brokerage firm Narnolia in a research report. Till then one can use sell on rise strategy, the report added.
The market breadth was tilted in favour of sellers. About 920 stocks declined and 746 shares advanced on National Stock Exchange.
Seven out of 11 sectoral gauges compiled by NSE traded lower, led by the NSE Nifty Pharma Index’s 2.10 percent fall. On the flipside, the NSE Nifty Bank Index was the top sectoral gainer, up 1.03 percent.
Aurobindo Pharma Shares Tumble Over 17% On U.S. FDA Observations
Shares of the training services provider rose as much as 2.1 percent to Rs 92.55 apiece.
The company’s board has fixed Oct. 18 as the record date for determining the shareholders eligible to participate in the buyback of equity shares, according to an exchange filing. The company will buy up to 2.68 crore shares at Rs 125 each aggregating to a total amount of Rs 335 crore.
The stock advanced 36 percent so far this year compared to a 9.4 percent gain on the Sensex.
Most Brokerages Expect Zee Entertainment Stock’s ‘Bumpy Ride’ To Continue
Indian equity benchmarks fluctuated between gains and losses in today’s opening trade.
The S&P BSE Sensex fell 0.05 percent to 37,656.47 and the NSE Nifty 50 declined 0.25 percent to 11142.50. The broader markets represented by the NSE Nifty 500 Index fell 0.48 percent.
The market breadth was tilted in favour of sellers. About 908 stocks declined and 545 shares advanced on National Stock Exchange.
Ten out of 11 sectoral gauges compiled by NSE traded lower, led by the NSE Nifty Media Index’s 3.49 percent fall. On the flipside, the NSE Nifty IT Index was the only sectoral gainer, up 0.35 percent.
Get your daily fix of global markets here.
Good Morning!.
The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, rose 0.23 percent to 11,385 as of 8:10 a.m. China and Hong Kong exchanges remained closed on account of National Day while Japan markets traded lower.
U.S. stock futures fell, the yen edged up and the yuan slipped in early trading Monday after a report that China may be increasingly reluctant to agree to a broad trade deal with the Trump administration.
The report from Bloomberg also left Japanese stocks with limited gains in the wake of a solid rally in the S&P 500 Index on Friday.
Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
