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Market Live: Nifty inches towards 10,600, Sensex up 250 pts; Infosys, Hero in focus ahead of Q2 nos

16 Oct 2018 : 01:32 Comments: 0 Views: 
Posted by Webmaster

Delta Corp, Yes Bank, IndusInd Bank, Titan, Vedanta, Asian Paints are trading higher, while Wipro, Axis Bank, BPCL, Dr Reddy's Lab are on the losing side.

HPCL Results Date

Hindustan Petroleum Corporation said the meeting of the board of directors of the company is scheduled on November 1 to consider the unaudited financial results for the half year & second quarter ended September 30, 2018.

ICICI Bank on Buyers' Radar

The Reserve Bank of India has approved the appointment of Sandeep Bakhshi as Managing Director & CEO of the bank for a period of three years with effect from October 15, 2018.

The board had approved the appointment of Sandeep Bakhshi as an Additional Director and Wholetime Director and Chief Operating Officer of the bank effective from June 19, 2018 which was subsequently approved by RBI on July 31, 2018 and the Shareholders of the bank on September 12, 2018.

The board at its meeting held on October 4, 2018 had approved the appointment of Bakhshi as Managing Director & CEO for a period of five years until October 3, 2023, subject to regulatory and other approvals.

Nifty inches towards 10,600, Sensex up 250 pts

Benchmark indices extended opening gains with the Sensex rising 255.35 points to 35,120.45 and the Nifty inching towards 10,600 levels, up 66 points at 10,578.50.

The market breadth, too, was strong as about four shares advanced for every share falling on the BSE.

Market Opens: It is a positive start on the Dalal Street with Nifty is trading around 10,550, while Sensex is up 100 points.

At 09:16 hrs IST, the Sensex is up 69.48 points or 0.20% at 34934.58, and the Nifty up 20.50 points or 0.20% at 10533.

Share of Infosys is trading higher by 1 percent as company is going to announce its second quarter numbers later today.

Midcap and smallcap are trading with 0.5 percent gain.

Shares of Hathway Cable & Datacom and DEN Networks gained 6 percent on a report that Reliance Industries is likely to buy controlling stake in both the companies.

Delta Corp, Yes Bank, IndusInd Bank, Titan, Vedanta, Asian Paints are trading higher, while Wipro, Axis Bank, BPCL, Dr Reddy's Lab are on the losing side.

Rupee Opens:The Indian rupee opened marginally higher at 73.80 per dollar on Tuesday versus previous close 73.83.

Market at pre-opening: Benchmark indices are trading higher in the pre-opening trade with Nifty hovering around 10,550 mark.

The Sensex is up 173.54 points or 0.50% at 35038.64, and the Nifty up 37.90 points or 0.36% at 10550.40.

IndusInd Bank, South Indian Bank, DEN Network, Hathway Cable were among major gainers in the pre-opening trade.

Infosys to declare Q2 number today: Infosys' profit for September quarter is likely to get a push on the back of higher growth, margin expansion as well as the absence of one-time loss related to Panaya downgrade, multiple analysts said in their reports.

Motilal Oswal expects India’s second-largest IT services firm to report profit of Rs 4,150 crore, while Emkay Global pegs this figure to be at Rs 4,101 crore. Meanwhile, Axis Securities expects profit after tax (PAT) of Rs 3,880 crore for the quarter under review.

Dollar Check: The US dollar was on the defensive on Tuesday after weak retail sales data, with the safe-haven yen and Swiss franc benefiting from tensions between the West and Saudi Arabia and amid a standoff on Brexit talks over Britain’s plan to exit the EU, reported Reuters.

The dollar, also sought during times of markets stress, struggled despite weaker equities and broader risk-off sentiment in part as US data overnight suggested consumers were reluctant to spend and as US bond yields paused from recent spikes, it added.

Crude Update: Oil prices rose on Tuesday on signs of falling Iran oil exports ahead of US sanctions against Tehran in November, while geopolitical tensions remain over a missing Saudi journalist, reported Reuters

International benchmark Brent crude for December delivery rose 9 cents, or 0.1 percent, to USD 80.87 per barrel. US West Texas Intermediate crude for November delivery was up 5 cents at USD 71.83 a barrel.

Asian markets trade higher: Asian stocks bounced modestly on Tuesday, gaining a toe-hold after a week of heavy losses, although increasing tensions between Saudi Arabia and the West fanned geopolitical concerns and capped gains, reported Reuters.

The disappearance earlier this month of a Saudi journalist critical of Riyadh has provoked an international outcry against the oil-rich kingdom.

US President Donald Trump has sent Secretary of State Mike Pompeo to Saudi Arabia over the case, potentially straining the relationship between the strategic allies, it added.
SGX Nifty: Trends on SGX Nifty indicate positive start for the broader index in India, a gain of 23 points or 0.22 percent. Nifty futures were trading around 10,542-level on the Singaporean Exchange.

Wall Street ends lower: US stocks ended lower in a choppy trading session on Monday, dragged down by technology stocks amid lingering worries over interest rates and corporate earnings, reported Reuters.

The benchmark S&P 500 index teetered between positive and negative territory for much of the day but moved definitively lower in the last half-hour of trading. The Dow, which was positive for most of the session, reversed course.

Good morning and welcome to the live coverage of all the action from D-Street. Stay tuned to this blog for all live updates from the market in India and around the world.

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