MARKETS: Indices end near record high, Sensex up 413 pts, Nifty tops 12,150

Topics MARKET WRAP | Markets

Indian markets scaled new peaks on Tuesday as buying sentiment firmed up at metal and information technology (IT) counters at the bourses. The benchmark S&P BSE Sensex settled near record high levels of 41,401.65, at 41,352.17-mark, up 413.45 points or 1.01 per cent. Select heavyweights like Bharti Airtel, and HDFC twins, which also hit record highs today, lifted the index along with metals stocks like Tata Steel and Vedanta. 

On the NSE, the Nifty50 index closed at 12,165-mark, up 111 points or 0.92 per cent. The index, too, hit a fresh record high of 12,182.75 during the last trading hour. Among the key sectoral indices, Nifty Bank scaled lifetime high of 32,213.35 in the morning deals. At close, the index settled 0.57 per cent higher at 32,156.20 levels. Nifty Metal index, however, was the top performer, up nearly 3 per cent, while Nifty Realty index settled 0.35 per cent lower.

Shares of metal companies, mainly steel, were in focus on Tuesday with Nifty Metal index surging more than 3 per cent intra-day as analysts remain ‘overweight’ on Indian steel industry and see a likely consensus earnings upgrade cycle in sector major. READ MORE

In the broader market, small-caps fared better than mid-cap stocks. The S&P BSE small-cap index closed 0.66 per cent higher at 13,393.77 level, while the S&P BSE mid-cap index settled at 14,818.14 level, up 0.38 per cent.

GLOBAL CUES

Trade deal optimism, positive economic signals in China and Wall Street’s rally sent Asian shares to an 18-month high.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 1 per cent to its highest since June 2018. Japan's Nikkei touched its firmest in more than year, while markets from Shanghai to Seoul and Hong Kong all rose by more than a percentage point.

European shares paused after a record run on Tuesday as a sales warning from Unilever and concerns that Britain’s Prime Minister Boris Johnson could take a hard stance on the transition period for Brexit dented UK stocks.

The FTSE 100 slipped 0.2 per cent, handing back gains after its strongest rally in nearly a year on Monday after reports that Johnson will use his control of parliament to outlaw any extension of the Brexit transition period beyond 2020. The UK's domestically-focused mid-cap index was down 1.1 per cent.

The broader European equities index , down 0.5 per cent, came off record highs. Consumer goods giant Unilever (ULVR.L) slid 5.9 per cent after it warned that 2019 sales would grow slightly below its expectations, citing tough trading conditions in West Africa and a slowdown in south Asia.

(With inputs from Reuters)


3:41 PM IST

3:40 PM IST

3:39 PM IST >> The benchmark S&P BSE Sensex settled near record high levels of 41,401.65, at 41,352.17-mark, up 413.45 points or 1.01 per cent. Select heavyweights like Bharti Airtel, and HDFC twins, which also hit record highs today, lifted the index along with metals stocks like Tata Steel and Vedanta.  >> On the NSE, the Nifty50 index closed at 12,165-mark, up 111 points or 0.92 per cent. The index, too, hit a fresh record high of 12,182.75 during the last trading hour. 

3:27 PM IST

3:24 PM IST Alert: Feb 1 is Saturday BSE Stock Exchange (Photo- Boomberg)

3:14 PM IST

3:06 PM IST -- Nifty50 hits record high after 12 trading sessions -- Nifty50 hits record high for the 9th time in 2019

2:57 PM IST Trade deal optimism, positive economic signals in China and Wall Street’s rally sent Asian shares to an 18-month high. MSCI's broadest index of Asia-Pacific shares outside Japan rose 1 per cent to its highest since June 2018. Japan's Nikkei touched its firmest in more than year, while markets from Shanghai to Seoul and Hong Kong all rose by more than a percentage point. European shares paused after a record run on Tuesday as a sales warning from Unilever and concerns that Britain’s Prime Minister Boris Johnson could take a hard stance on the transition period for Brexit dented UK stocks. The FTSE 100 slipped 0.2 per cent, handing back gains after its strongest rally in nearly a year on Monday after reports that Johnson will use his control of parliament to outlaw any extension of the Brexit transition period beyond 2020. The UK's domestically-focused mid-cap index was down 1.1 per cent.   The broader European equities index , down 0.5 per cent, came off record highs. Consumer goods giant Unilever (ULVR.L) slid 5.9 per cent after it warned that 2019 sales would grow slightly below its expectations, citing tough trading conditions in West Africa and a slowdown in south Asia. (inputs from Reuters)

2:52 PM IST -- One of the next four months must touch Rs 1.25 trillion mark -- Revenue dept to start aggressively collecting arrears of the past 3 months -- Fin Min says, Revenue, CBIC, CBDT depts should not take cut in corporation tax as an excuse for lesser tax payment -- Maximise tax collection, but not harass honest tax payer

2:43 PM IST Shares of metal companies, mainly steel, were in focus on Tuesday with Nifty Metal index surging more than 3 per cent intra-day as analysts remain ‘overweight’ on Indian steel industry and see a likely consensus earnings upgrade cycle in sector major. Among individual stocks, Jindal Steel & Power rallied 8 per cent to Rs 148 on the National Stock Exchange (NSE). Tata Steel hit an over four-year high of Rs 442, soaring 5 per cent today. READ MORE

2:37 PM IST Alert: Deadline to submit bid was Dec 16

LIVE UPDATES

Sectoral trends at NSE at close


Sensex heatmap at close


Closing Bell

>> The benchmark S&P BSE Sensex settled near record high levels of 41,401.65, at 41,352.17-mark, up 413.45 points or 1.01 per cent. Select heavyweights like Bharti Airtel, and HDFC twins, which also hit record highs today, lifted the index along with metals stocks like Tata Steel and Vedanta. 


>> On the NSE, the Nifty50 index closed at 12,165-mark, up 111 points or 0.92 per cent. The index, too, hit a fresh record high of 12,182.75 during the last trading hour. 

Buzzing | Avenue Supermarts surges over 7% on heavy volume


NEWS ALERT | STOCK MARKETS TO REMAIN OPEN ON FEB 1 FOR BUDGET 2020-21: CNBC TV18

Alert: Feb 1 is Saturday
BSE Stock Exchange (Photo- Boomberg)


Market check | Sensex surges 400 pts


NEWS ALERT | Nifty hits record high, crosses earlier level of 12,159

-- Nifty50 hits record high after 12 trading sessions

-- Nifty50 hits record high for the 9th time in 2019

Global Markets check

Trade deal optimism, positive economic signals in China and Wall Street’s rally sent Asian shares to an 18-month high.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 1 per cent to its highest since June 2018. Japan's Nikkei touched its firmest in more than year, while markets from Shanghai to Seoul and Hong Kong all rose by more than a percentage point.

European shares paused after a record run on Tuesday as a sales warning from Unilever and concerns that Britain’s Prime Minister Boris Johnson could take a hard stance on the transition period for Brexit dented UK stocks.

The FTSE 100 slipped 0.2 per cent, handing back gains after its strongest rally in nearly a year on Monday after reports that Johnson will use his control of parliament to outlaw any extension of the Brexit transition period beyond 2020. The UK's domestically-focused mid-cap index was down 1.1 per cent.
 
The broader European equities index , down 0.5 per cent, came off record highs. Consumer goods giant Unilever (ULVR.L) slid 5.9 per cent after it warned that 2019 sales would grow slightly below its expectations, citing tough trading conditions in West Africa and a slowdown in south Asia.

(inputs from Reuters)

NEWS ALERT | Fin Min sets GST collection target at Rs 1.1 trillion/month for the next 4 months: sources to CNBC TV18

-- One of the next four months must touch Rs 1.25 trillion mark

-- Revenue dept to start aggressively collecting arrears of the past 3 months

-- Fin Min says, Revenue, CBIC, CBDT depts should not take cut in corporation tax as an excuse for lesser tax payment

-- Maximise tax collection, but not harass honest tax payer

Nifty Metal index up over 3%; Tata Steel hits over 4-month high

Shares of metal companies, mainly steel, were in focus on Tuesday with Nifty Metal index surging more than 3 per cent intra-day as analysts remain ‘overweight’ on Indian steel industry and see a likely consensus earnings upgrade cycle in sector major. Among individual stocks, Jindal Steel & Power rallied 8 per cent to Rs 148 on the National Stock Exchange (NSE). Tata Steel hit an over four-year high of Rs 442, soaring 5 per cent today. READ MORE

NEWS ALERT | Synergy Group seeks extension from lenders to submit bid for Jet Airways: CNBC TV18

Alert: Deadline to submit bid was Dec 16

BUZZING STOCK:: NIIT Tech zooms 10%


Pharma stocks trade higher

COMPANY LATEST(rs) CHG(rs) CHG(%) VOLUME
SUN PHARMA.INDS. 428.30 -6.70 -1.54 799341
AUROBINDO PHARMA 447.70 -7.05 -1.55 96401
BLISS GVS PHARMA 148.95 -0.05 -0.03 65159
GLENMARK PHARMA. 345.00 1.15 0.33 60583
BIOCON 290.05 -5.50 -1.86 58433
» More

Nifty sectoral indices at this hour


SBI, other PSBs to lend Rs 4,000 cr to Patanjali for Ruchi Soya acquisition

State Bank of India (SBI) and other public sector banks have decided to lend Rs 4,000 crore to Patanjali Ayurved for the acquisition of Ruchi Soya, which was facing bankruptcy proceedings under the Insolvency and Bankruptcy Code. The money lent by banks will help the government owned banks to settle their exposure to Ruchi Soya with a haircut of 65 per cent.
 
Apart from SBI, Union Bank is also one of the banks lending to Patanjali. Banks led by SBI and others had earlier made claims of over Rs 12,146 crore against Ruchi Soya after the company failed to repay its loans. READ MORE

Rupee near day's high


Jindal Steel zooms 6%


BSE500 stocks that hit 52-week high today

COMPANY PRICE(rs) 52 WK HIGH CHG(rs) CHG(%)
ASTRAZENECA PHAR 2891.05 2927.25 16.75 0.58
BAJAJ FINSERV 9318.90 9345.40 32.15 0.35
DLF 229.75 231.40 -0.55 -0.24
H D F C 2423.70 2428.00 51.30 2.16
» More on 52 Week High

NEWS ALERT | Infy Deputy CFO Jayesh Sanghrajka withdraws resignation: CNBC TV18 quoting unnamed sources

-- He will stay as Deputy CFO with additional responsibilities. 
 
Alert: Infosys declined to comment

Paper stocks trade higher

COMPANY NAME LATEST HIGH LOW CHG
(rs)
CHG(%)
JK PAPER 131.25 134.90 128.00 5.75 4.58
ORIENT PAPER 28.25 29.75 26.25 2.85 11.22
BALLARPUR INDS. 0.47 0.47 0.47 -0.02 -4.08
STAR PAPER MILLS 119.35 120.25 113.90 10.00 9.14
MALU PAPER 30.15 30.15 28.50 2.70 9.84
Click here for the full list

FII trading activity :: Equity segment

DATE BUY VALUE (rs CR) SALE VALUE (rs CR) NET VALUE (rs CR)
13-DEC-2019 4686.55 4569.06 117.49
12-DEC-2019 4587.82 5202.78 -614.96
11-DEC-2019 4941.73 4557.64 384.09
10-DEC-2019 4305.38 4487.31 -181.93

Click for more

Most active stocks by volume

COMPANY PRICE(rs) CHG(rs) CHG(%) VOLUME
VODAFONE IDEA 6.48 -0.13 -1.97 10699881
SUZLON ENERGY 1.98 -0.06 -2.94 4506714
YES BANK 47.75 0.95 2.03 3893136
RELIANCE POWER 3.53 0.16 4.75 2757105
TRIDENT 7.35 -0.95 -11.45 2428653
» More on Most Active Volume

Year in Review: Major factors that affected markets in 2019

Equity markets appeared quite nonchalant to the steady deterioration in the macro indicators in calendar year 2019 (CY19). While the indices moved up to record highs, gains were limited to a handful of index stocks. The benchmark S&P BSE Sensex gained an impressive 13.7 per cent during the period, while NSE's Nifty added 11.2 per cent. The broader market, however, continued to reel under pressure with the S&P BSE Midcap and S&P BSE SmallCap indices sliding 4 per cent and 9 per cent, respectively READ MORE

Mid-and-small cap MFs hold cash positions, fund managers delay investment

he sharp dip in equity flows in November may come as a source of relief for some fund managers, especially in the mid- and small-cap segment where over a dozen equity schemes are still holding cash positions between 7 per cent and 20 per cent. Industry experts say schemes that had been attracting investor flows are yet to find suitable investment opportunities to fully deploy investor funds READ MORE

Top gainers on the BSE at this hour


NEWS ALERT | SC court stays Bombay HC judgement, allows for the Project to resume in part: CNBC TV18

-- Partially lifts stay on construction of Mumbai Coastal Road Project

-- Marginal relief for the Rs 14,000 cr Mumbai Coastal Road Project

Whirlpool of India slips 6% after MD Sunil D'Souza steps down

Shares of Whirlpool of India slipped 6 per cent to Rs 2,122 on the BSE on Tuesday after the consumer durable maker's Managing Director Sunil D'Souza resigned from the company.
 
In a meeting held on Monday, the board of the company accepted the resignation of D'Souza, who, according to the exchange filing, has decided to pursue interests outside of the company. His resignation will be effective from April 3, 2020. READ MORE

EXPERT COMMENT | Anand Rathi Shares on Nov WPI nos

Despite WPI inflation rising for the first time in six months, at 0.6%, the rate was still low, and fuel and manufactured products remain in deflation. With rising food inflation, the WPI-CPI divergence widened to nearly 500bps. While we expect the hardening of WPI to continue in Dec’19, the level is likely to be modest.

NIIT Technologies surges 6% as board to mull share buyback plan

Shares of NIIT Technologies advanced 6 per cent to Rs 1,563 on the BSE on Tuesday after the company announced that its board will meet on December 23 to consider share buyback proposal. The stock of the IT consulting & services firm was trading close to its 52-week high level of Rs 1,638 touched on November 21, 2019. READ MORE

MARKET CHECK:: Sensex holds gains


BUZZING STOCK:: Blue Dart Express up 2%


NEWS ALERT | SAT directs Axis Bank to approach SEBI for relief in Karvy Broking Case: CNBC TV18

-- Status quo to be maintained w.r.t shares in Karvy's demat account until SEBI passes order

Alert: SAT is Securities Appellate Tribunal 

NEWS ALERT | NCLAT allows Patanjali time till Dec 23 for implementation of resolution plan in Ruchi Soya case: CNBC TV18

NEWS ALERT | Linde India receives Rs 1,380 cr under biz transfer agreement: BSE filing

-- The Company has yesterday, effective close of business hours, consummated and closed the Business Transfer Agreement for divestment of the "South Region Divestment Business," which was signed on 22 November 2019 with Air Water India Pvt. Ltd. (the purchaser) and Air Water Inc. (the guaranteeing party). 

Contribution to S&P BSE Sensex's gain today


Paper, Jute stocks in focus :: JK Paper, Seshasayee Paper up over 5%

Among the individual stocks, Orient Paper & Industries, Emami Paper Mills, Star Paper Mills, Malu Paper Mills, Seshasayee Paper & Boards, International Paper APPM, JK Paper, and Ruchira Papers from the paper sector were up more than 5 per cent on the BSE. Meanwhile, Ludlow Jute & Specialities, Gloster and Cheviot Company from the jute & jute products industry were up 5 per cent. In comparison, the S&P BSE Sensex was up 0.73 per cent at 41,236 levels at 10:34 am. READ MORE

Ujjivan Small Finance Bank extends gains; surges 65% against issue price

Shares of Ujjivan Small Finance Bank extended their gains to second straight day, up 4.5 per cent to Rs 61.10, in the early morning deals on Tuesday. The stock has zoomed 65 per cent against its issue price of Rs 37, and is 19.45 per cent off its recent low of Rs 51.15 apiece hit on December 13, 2019. At 10:15 am, the stock was up 3.59 per cent at Rs 60.55 per share. In comparison, the S&P BSE Sensex was ruling near at record high levels of 41,230.05, up 283.83 points or 0.71 per cent. READ MORE

Auto shares edge higher; Maruti Suzuki gains 2% on BofAML upgrade

Auto shares were in focus on Tuesday, with the Nifty Auto index climbing 1.5 per cent in intraday trade on the National Stock Exchange (NSE), led by gain in shares of Maruti Suzuki, Tata Motors, and Eicher Motors. Among individual stocks, Maruti Suzuki India rose 2 per cent to Rs 7,276.50 on reports that Bank of America Merrill Lynch has upgraded the company's stock to 'buy' from 'neutral' and raised the target price to Rs 8,650 from Rs 7,450 per share. READ MORE

SECTOR WATCH :: FMCG

Looking into the future, we see consumption unlikely to post material recovery in CY20, on account of headwinds such as telecom tariffs increase and potential GST rate hikes. However, we believe operating margin expansion will continue, given the scope to cut ad-spends and the cost-efficiency plans being run by most companies. We cut our estimates for the sector by 2-3%. We believe that large stocks, with market-leading positions, good execution track record and better growth will relatively outperform. HUL, VBL, ITC, Britannia and Nestlé would be our pecking order.

(Source: IIFL note)

IIFL maintains SELL on UltraTech Cement

India’s largest cement company, has been on an acquisition spree in the past 2 decades and successfully turned-around most of the acquired plants within a reasonable span of time. UCL has reported strong Ebitda growth in the past few years, led by these acquisitions. While UCL continues to outgrow the industry on capacity and volumes through acquisitions, visibility on sustained margin improvement remains low. We recommend SELL with a target price of Rs3,350, due to rich valuation/sluggish sector fundamentals and downside risk for FY21 earnings estimate

Jefferies on Finolex Cables

Finolex Cables (FNXC) has been witnessing a notable dip in communication sales over past three quarters. The company has deferred ahead its overall capex of Rs 2bn. We cut our estimates for FNXC, now penciling FY19-22e revenue/PAT at 9%/14% CAGR (~12%/19% earlier, post corporate tax cuts). We expect op-margin to improve by ~60bps from 13.9% in FY20e to 14.5% in FY22e (14.7% in FY19). Maintain target PE at 13x broadly in line with FNXC's 10-yr avg. Maintain Hold with revised price target of Rs 400.

MOSL on Tech Mahindra

We keep our estimates unchanged for FY20/21. The stock trades at 14x one-year forward P/E, in line with its long-term average. Our TP implies a marginal re-rating to 15x on the back of the decent near-term growth prospects despite slowing demand.

Nifty PSU Bank index is trading 1% higher


MARKET CHECK


Federal-Mogul surges 19% after Supreme Court order on open offer

Last month, the Securities Appellate Tribunal (SAT) had dismissed an appeal against an order passed by the Sebi, directing the promoters to revise the open offer price upwards. The promoter, US-based Tenneco, had moved SAT challenging the Sebi directions on the open offer price. READ MORE  

FDA observation, forensic audit by Sebi may keep Sun Pharma under pressure

The Sun Pharma stock shed about 1 per cent in trade, taking its losses to 5 per cent from its recent highs. The weakness in the stock was because of inspections by the American drug regulator (Food and Drug Administration or FDA) at its Halol plant in Gujarat which resulted in eight observations, as well as a downward revision of speciality drug payoffs.
 
While observations are negative, the extent of the violation of good manufacturing practices is not clear.  READ MORE

BROKERAGE RADAR | ICICI Securities on JB Chemicals

We believe the stock is undervalued at 12.4xFY21E EPS and FCF yield of more than 6%. We maintain BUY with a revised target of Rs550/share based on 15xSep21E EPS (earlier Rs530). Key downside risks are: slowdown in India growth and escalation of ranitidine impurity issue.

MARKET ALERT | Nifty Bank hits record high; surpasses previous high of 32,187


MARKET ALERT | Sensex hits fresh record high of 41,201.19

-- Surpasses previous high of 41,185


Market check


Sector watch | Nifty IT index rises over 1%


Whirlpool of India slides 4%


Market check


Market check | Indices firming up in morning deals


IBC implementation to have positive impact on debt market: Sebi chief Tyagi

Securities and Exchange Board of India (Sebi) Chairman Ajay Tyagi on Monday said the positive impact of the Insolvency and Bankruptcy Code (IBC) implementation would be visible in the domestic corporate debt market in five years.
 
Speaking at a conference on the IBC, Tyagi said the implementation of a resolution framework has ushered in behavioural changes in corporate debtors and in the way promoters and creditors treat debt defaults. “The threat of losing control of the company is forcing many promoters to pay off debt even before insolvency is started,” he said. READ MORE

Reliance Ind trades half a per cent higher

-- Reliance Industries on Monday said its joint venture with BP will retail fuel under the Jio-BP brand name. The two companies entered into an agreement for forming the joint venture on Monday, RIL said in a statement.

Nifty Auto index trades as top gainer among NSE sectoral indices


UCO Bank dips nearly 2%

-- UCO Bank on Monday said it has raised Rs 500 crore by issuing Basel III compliant bonds. "Our bank has issued and allotted this day 9.71 per cent unsecured rated listed redeemable non-convertible fully paid up Basel III complaint tier II bonds aggregating to Rs 500 crore," the bank said.

Federal Mogul Goetze zooms over 16%


Cipla gains 1.5%

-- Homegrown pharma major on Monday said it has acquired brand name and trademark rights for Vysov for anti-diabetic drug Vildagliptin for the Indian market from Novartis.

Ujjivan Small Fin Bank extends Monday's rally

-- The stock gained nearly 13% in the trade yesterday.

Maruti Suzuki trades higher on upgrade by Bofa-ML


Sectoral trends at NSE during Opening trade


Top gainers and losers on S&P BSE Sensex during Opening trade


Market at Open


Market at Open


Momentum picks by ICICI Securities


Top gainers and losers on S&P BSE Sensex during Pre-open


Market at Pre-open


Market at Pre-open


Rupee opening

Rupee opens higher at 70.95/$ vs Monday's close of 70.99 against the US dollar

Why 2020 will be crucial for the Indian economy and markets

As we come to the close of 2019, it is clear that the year has been a tough one for active fund managers in India. Market breadth has been narrow, and though the indices are showing gains of 5-7 per cent in dollar terms, many India-specific funds are actually down for the year.
 
One allocator recently told me that she had never seen such a divergence in India funds performance before. Large and well-known funds are at both ends of the spectrum, some up double digits, while others down an equal amount. READ HERE

Mid-and-small cap MFs hold cash positions, fund managers delay investment

The sharp dip in equity flows in November may come as a source of relief for some fund managers, especially in the mid- and small-cap segment where over a dozen equity schemes are still holding cash positions between 7 per cent and 20 per cent. Industry experts say schemes that had been attracting investor flows are yet to find suitable investment opportunities to fully deploy investor funds. "Some of the small- and mid-cap schemes had received significant investor interest. READ REPORT HERE

Stocks to watch: Tata Motors, Vedanta, Maruti, Cipla, PSBs, STFC, UCO Bank

Here's a look at the top stocks that may remain in focus today -
 
SBI, other PSBs: State Bank of India (SBI) and other public sector banks have decided to lend Rs 4,000 crore to Patanjali Ayurved for the acquisition of Ruchi Soya, which was facing bankruptcy proceedings under the Insolvency and Bankruptcy Code. READ MORE
 
UCO Bank: UCO Bank on Monday said it has raised Rs 500 crore by issuing Basel III compliant bonds. "Our bank has issued and allotted this day 9.71 per cent unsecured rated listed redeemable non-convertible fully paid up Basel III complaint tier II bonds aggregating to Rs 500 crore," the bank said. READ MORE

Today's picks: From India Oil Corp to ITC, hot stock to watch today

Indian Oil Corp
 
Keep a stop at Rs 127.5 and go short. Add to the position between Rs 123.5-Rs 124. Book profits at Rs 123.
 
ITC
 
Keep a stop at Rs 240 and go short. Add to the position between Rs 233-Rs 234. Book profits at Rs 232. READ MORE

Top stock recommendations from Anand Rathi: Buy Wipro, Repco Home Finance

NIFTY: BUY | TGT: 12,150 | SL: 12,000
 
The Nifty closed in the negative territory in the last trading session. However, the fall on the hourly charts is a three-wave fall, hence the probability of a bounce back from the current levels is quite high. The index has retraced 23.6 per cent of its previous three days rise; hence there is a possibility of some more correction till 38.2% levels i.e. till 12,044, so if it dips till those levels it will be a buying opportunity for the target of 12150 with a stop loss of 12,000. READ MORE

Bulk deals on BSE as on Monday

Bulk deals on NSE as on Monday

FII/FPI & DII trading activity on NSE, BSE and MSEI


Rupee Check

Source: Bloomberg



Oil Check

>> Oil prices trickled a fraction lower on Tuesday but remained near a three-month high as investors kept the faith with hopes that a fully fledged US-China trade deal is in the pipeline and set to stoke oil demand in the world’s biggest economies.

>> Brent crude oil futures had slipped by three cents to $65.31 a barrel by 6:50 am, while West Texas Intermediate crude was down 4 cents to $60.17 a barrel.

SGX Nifty

At 8:11 AM, the Singaporean Exchange for Nifty Futures was at 12,097 levels, up 28 points, indicating a positive start for the Indian markets.

Asian Markets check


US Markets check


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