The equity derivatives market has been growing rapidly in the recent years and the ministry is not comfortable with its disproportionate growth vis-à-vis the cash market
Jubilant Life Sciences said in a BSE filing that the company had posted a net profit of Rs 118.11 crore for the corresponding period of the previous fiscal.
The Nifty50 rallied 88 points in trade to close slightly below its record high level on Wednesday and made a strong bull candle and a bullish engulfing pattern on the daily candlestick charts.
Nifty PSU Bank was the biggest gainer among sectoral indices, rising 4.2 percent while Nifty Bank gained 314 points to end at fresh record closing high of 26,289.10.
Going forward, on the contrary, the macro picture should improve meaningfully going forward.
Porinju Veliyath of Equity Intelligence India in an interview with CNBC-TV18 said that 35,000 on the Sensex could be the base for the index going forward in the next 5 years.
In what is a boost for the bond market, government re-assessed additional borrowing needs. In an interview with CNBC-TV18, Ashish Parthasarthy, Treasurer at HDFC Bank and Sahil Kapoor Chief Market Strategist at Edelweiss Broking discussed the impact.
"Most likely the government may miss its fiscal deficit target for the year on account of lower indirect tax collections (on account of reducing the GST rate from 28 percent to 18 percent on several items and lower dividend from RBI," says Abhishek Goenka, Founder and CEO of IFA Global
The government trims additional borrowing requirement to Rs 20,000 crore from the earlier announced Rs 50,000 crore. In an interview to CNBC-TV18, Ashutosh Khajuria, ED of Federal Bank and Amandeep Chopra of UTI MF discussed what they make of this move as well as the impact.
The rupee opened lower at 64.0750 as against yesterday's closing level of 64.04 at the inter-bank foreign exchange here on trade deficit concerns. Later, it bounced back smartly on subdued dollar overseas to trade 63.75 before quoting at 63.95 per dollar at 1030 hrs.
"Looking at futures open interest and other derivative data, we expect Nifty to consolidate in the range of 10,600 to 10,800 levels with a positive bias. Any dip in prices should be used as a buying opportunity as 10,550 to 10,600 spot levels should act as strong support," says Shitij Gandhi, Senior Research Analyst, SMC Global Securities Ltd.
BNP Paribas' Raychaudhuri is also upbeat on the latest development surrounding the government’s additional borrowing requirement.
A further rise in volatility could be a cause of concern for bulls. Thus, traders need to be cautious in the market and need to follow strict stop loss.
The market breadth was in favour of the declines on Wednesday morning with 357 stocks advancing as against 1276 declines while 373 remained unchanged. On the other hand, 619 stocks advanced and 1745 stocks declined while 80 remained unchanged on the BSE.
Watch the interview of SP Tulsian of sptulsian.com with Latha Venkatesh, Anuj Singhal, and Sonia Shenoy of CNBC-TV18, where he shared his readings and outlook on the fundamentals of the market, and specific stocks and sectors.
Analyst advise investors not to make fresh long positions on dips and square of any leverage bets.
Nifty PSU Bank index gained nearly 2 percent and IT index rallied 1 percent.
Dollar weakness continues with the dollar now falling to a three-year low against its peers. In an interview with CNBC-TV18, Ray Farris of Credit Suisse spoke about the same.
Nifty Future is opening gap down by 1 points against Friday’s close 10709.55 as indicated by SGX Nifty which is currently trading at 10708, says Dynamic Levels.
Weakness in domestic equity market will influence the rupee to trade lower, says Pramit Brahmbhatt of Veracity.
Spot gold was up 0.3 percent at $1,341.96 an ounce by 0123 GMT. It touched its strongest since Sept. 8 at $1,344.44 on Monday.
We expect the new 10-year benchmark bond yield to trend higher towards 7.40-7.45 percent in the near term amid lack of bidding interest from market participants ahead of scheduled auction on Friday, says Dhawal Dalal of Edelweiss AMC.
We expect the spot USD-INR to trade in a range of 63.80-64.20 for the day, says Pramit Brahmbhatt of Veracity.
A list of important headlines from across news agencies that could help in your trade today.
The Dow Jones Industrial Average fell 10.33 points, or 0.04 percent, to 25,792.86, the S&P 500 lost 9.82 points, or 0.35 percent, to 2,776.42 and the Nasdaq Composite dropped 37.38 points, or 0.51 percent, to 7,223.69.