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Oct 17, 2019 03:45 PM IST | Source: Moneycontrol.com

Closing Bell: Sensex ends above 39,000, Nifty jumps 100 pts; YES Bank, Tata Motors spike 13-15%

Sensex closed 453.07 points higher or 1.17 percent at 39052.06, and the Nifty jumped 122.40 points or 1.07 percent at 11586.40.

  • Oct 17, 05:14 PM (IST)

    Shrikant Chouhan, Senior Vice-President, Equity Technical Research, Kotak Securities
     
    Technically, “it was a make or break” sort of day for the market which ended positively. Although the market closed higher above 11,550 with an improvement in market breadth, it has multiple hurdles at every 50 points higher from current levels. In case the market manages to cross 11,700 in 3 to 4 days, it would result in re-knocking 12,100 levels in coming days. Below 11,550, Nifty would find support at 11,500 and at 11,430.     

  • Oct 17, 05:00 PM (IST)

    Siddharth Khemka, Head - Retail Research, Motilal Oswal Financial Services Private

    Technically, Nifty formed a Bullish Candle followed by Doji which implies that follow up buying was seen at lower levels. It has surpassed its falling supply trend line on daily scale and started to form higher highs- higher lows from past four sessions. The Index could extend its momentum towards 11650-11700 zones with downside support at 11500 then 11420 levels.

  • Oct 17, 04:52 PM (IST)

    Ajit Mishra Vice President, Research, Religare Broking:

    Markets are currently dancing to the global tunes, in absence of any major event on the local front. Meanwhile, we’re seeing volatile swings on the stock-specific front which usually happens during the earnings season. We suggest not to get carried away with the recent surge and maintain positive yet cautious approach.
     
    The recent surge in the banking index has paved the way for further surge in the Nifty. The next hurdle could be 11,650-11,750 zone

  • Oct 17, 04:40 PM (IST)

    Rahul Gupta, Head of Currency, Emkay Global Financial Services:

    Rupee has appreciated nearly 1% in two days. The hopes of US-China trade closing the Phase-one deal along with a potential Brexit deal, has kept all emerging market currencies including rupee, afloat. Also, the dismal US economic data, fall in dollar index and speculation over third rate cut by Fed added to the strength in rupee. 

    Going ahead, if Brexit deal is done by the Parliament, as mentioned by UK PM, then we can see further appreciation in rupee. 

    Having said that, developments over US-China trade deal will be closely watched. Both the nations are supposed to meet in South America next month.  So unless and until a deal is not closed rupee will be on an edge. In between any positive development regarding the US-China trade deal will act in favour of rupee. 

    In USD/INR spot, 70.75 is a crucial support, if that breaks we can see a fall towards 70.50 level, meanwhile, 71.50 will act as a crucial resistance.

  • Oct 17, 03:38 PM (IST)

    New Brexit deal with EU agreed, says UK PM Boris Johnson

    Prime Minister Boris Johnson has said that the United Kingdom and the European Union (EU) have agreed on a "great new deal" for Brexit.

    In a tweet, Johnson said: “We’ve got a great new deal that takes back control -- now Parliament should get Brexit done on Saturday so we can move on to other priorities like the cost of living, the NHS, violent crime and our environment. (sic)”

    Jean-Claude Juncker, President of the EU Commission, said in a tweet: “Where there is a will, there is a deal - we have one! It’s a fair and balanced agreement for the EU and the UK and it is testament to our commitment to find solutions. I recommend that EUCO endorses this deal. (sic)”

    The deal, which was agreed to after days of intense negotiations, has to still be formally approved by the bloc and ratified by the European and UK Parliaments.

  • Oct 17, 03:30 PM (IST)

    TVS Motor Q2 profit jumps 20% at Rs 255 crore

    TVS Motor Company has reported a 20 percent jump in its Q2FY20 standalone net profit at Rs 255 crore on the back of improvement in the margins. The company had reported a profit of Rs 211.31 in the same quarter last year. Revenue of the company was down 13 percent at Rs 4,347.8 crore versus Rs 4,993.47 crore.

  • Oct 17, 03:23 PM (IST)
  • Oct 17, 03:19 PM (IST)
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