OPEC's most influential energy minister, Saudi Arabia's Khalid al-Falih, said in a Twitter post that he had called his counterparts in the United Arab Emirates, the United States and Russia, as well as major oil consumer South Korea, to "coordinate global action to ease global market anxiety".
An outperformance by HUL helped it surpass ITC. HUL has been gaining momentum while ITC has merely held on to the same level where it was in the last one-year.
110 stocks hit a new 52-week low. These include ABB, ACC, Amtek Auto, Bank of Baroda, Bharti Airtel, Ceat, PTC India, Strides Shasun and Vakrangee, among others.
Cuts in names such as ACC, Bank of Baroda, Oriental Bank of Commerce, and Supreme Infrastructure India are seen.
Liquor stocks like United Spirits, United Breweries, Radico Khaitan, GM Breweries and Som Distilleries will get astrological support, says Satish Gupta of astrostocktips.
Rajat Rajgarhia, MD—Institutional Equities at Motilal Oswal Securities, advises investors to look at NBFCs due to improvement in credit growth
The breadth of the market favoured declines, with 752 stocks advancing, 842 declining and 446 remaining unchanged. On BSE, 905 stocks advanced, 972 declined and 97 remained unchanged.
On the higher side, call writing at 10,800 will continue to act as strong supply zone for Nifty whereas on the lower end, put writing at 10,600 will emerge as immediate support for the index
Hadrien Mendonca of IIFL recommends buying Bajaj Finance with target at Rs 2,250 and stop loss at Rs 1,975 and Colgate Palmolive with target at Rs 1,276 and stop loss at Rs 1,138.
Results today: Ashok Leyland, Amara Raja Batteries, Bajaj Auto, Bajaj Holdings, Tata Chemicals, Thermax, Strides Shasun, Alkyl Amines, Alphageo, Arfin India etc
The Indian rupee opened lower by 7 paise at 67.77 per dollar on Friday.
But markets remained below multi-year highs from the previous day as surging output from the United States is expected to offset at least some of the shortfalls.
“This correction might be a decent opportunity to re-accumulate blue-chip stocks” says Jaydeb Dey, Technical Analyst at Stewart & Mackertich Wealth Management.
Trends on Nifty futures on the Singaporean exchange show that the Nifty could have a lower opening. SGX Nifty is currently trading around 10,670-levels.
It is advisable to remain cautious and not venture into over-leveraged positions. Here is a list of top three stocks that could deliver returns of up to 8-10 percent.
Stay tuned to Moneycontrol to find out what happens in currency and equity markets today. We have collated a list of important headlines from across news agencies.
Maximum call open interest (OI) of 57.05 lakh contracts stood at strike price 11,000, which will act as a crucial resistance level for the index in the May series.
Japan's Nikkei rose 0.2 percent, South Korea's KOSPI was up 0.25 percent and Australian stocks edged up 0.05 percent.
The Dow Jones Industrial Average fell 54.95 points, or 0.22 percent, to 24,713.98, the S&P 500 lost 2.33 points, or 0.09 percent, to 2,720.13 and the Nasdaq Composite dropped 15.82 points, or 0.21 percent, to 7,382.47.
The 30-share BSE Sensex was down 238.76 points at 35,149.12 and the 50-share NSE Nifty fell 58.40 points to 10,682.70
A ‘Bearish Belt Hold’ pattern is formed when the opening price becomes the highest point of the trading day (intraday high) and the index declines throughout the trading day making up for the large body.
All sectoral indices ended in the red barring Pharma and Realty that were above flatline. FMCG index was the biggest loser, falling more than 1 percent.
So far this calendar year, midcap indices have fallen 8-10 percent, compared to a 3-5 percent rise in the Nifty and Sensex.
Farm equipment maker Escorts has reported stellar earnings growth for the March quarter as it has been firing on all cylinders. The stock witnessed profit booking in the final hour and ended around a percent lower.
Coal India, Tata Motors, Wipro, Sun Pharma and ONGC are the top gainers on the Sensex.