MARKET: Indices end flat, Nifty settles at 11,222; PSBs, FMCG stocks fall

Topics Markets | Tata Sons | Vodafone Idea

The trend among Nifty sectoral indices was largely negative, led by Nifty PSU Bank index, down over 2 per cent.
The benchmark indices ended Tuesday's volatile session on a flat note with a negative bias. 

The S&P BSE Sensex ended at 37,973 levels, down 8 points, or 0.02 per cent. During the session, the index hit an intra-day high and low of 38,236 and 37,831, respectively. ONGC (down 4%) was the top Sensex laggard, followed by IndusInd Bank, Power Grid, and Axis Bank (all down 3%). On the other hand, UltraTech Cement (up 3 per cent) and Tata Consultancy Services (up over 2.5 per cent) ended as the top gainers on the index.

On the NSE, the broader Nifty50 index settled at 11,222, down 5 points, or 0.046 per cent. 

The trend among Nifty sectoral indices was largely negative, led by Nifty PSU Bank index, down over 2 per cent.

In the broader market, the S&P BSE MidCap index ended at 14,697, down 0.16 per cent while the S&P BSE SmallCap closed at 14,861, down 0.01 per cent.

Global stocks

European shares slipped on Tuesday as investors awaited the first US presidential debate and eyed progress of a fiscal stimulus package in Washington.

US shares were set to open lower, with futures for the S&P 500 and Nasdaq giving up earlier gains to slip into negative territory. The MSCI world equity index, which tracks shares in nearly 50 countries, was flat.

Meanwhile, the global death toll from Covid-19 rose past 1 million on Tuesday, according to a Reuters tally.

In commodities, oil prices dropped, paring gains from the previous session, as persistent demand concerns due to the coronavirus pandemic outweighed hopes generated by a new US stimulus package that lawmakers are struggling to agree.

(With inputs from Reuters)

3:43 PM IST

3:42 PM IST

3:36 PM IST The S&P BSE Sensex ended 8 points, or 0.02 per cent lower at 37,973 while NSE's Nifty ended at 11,222, down 5 points, or 0.05 per cent. 

3:29 PM IST

3:13 PM IST

3:03 PM IST Shares of transportation and ,logistics companies rallied up 12 per cent on the BSE on Tuesday on expectations of improved earnings as global freight rates are taking off. Among individual stocks, Blue Dart Express and Gati rallied 11 per cent and 12 per cent, respectively. Snowman Logistics, VRL Logistics, Mahindra Logistics and TCI Express were up in the range of 3 per cent to 7 per cent on the BSE. In comparison, the S&P BSE Sensex was up 0.5 per cent at 38,168 points at 02:34 pm. READ MORE

2:55 PM IST Given the stellar initial public offer Of Happiest Minds, its founder Ashok Soota made a debuts in this list with wealth totaling Rs 3,700 crore. Radhakishan Damani, founder of Avenue Supermarts, on the other hand, broke into the top 10 wealthiest individuals ranking in the IIFL Wealth Hurun India Rich List 2020. READ MORE

2:46 PM IST If you need an expert handholding to invest your money to achieve your financial goals, you might face the dilemma of whom to approach – a Registered Investment Advisor (RIA) or a distributor.   Securities Exchange Board of India (Investment Advisors) (Amendment) Regulations that kick in on October 1, 2020, has made a clear distinction between an RIA and a mutual fund distributor and has segregated the two activities. READ MORE

2:43 PM IST COMPANY PRICE(rs) 52 WK HIGH CHG(%) ADANI GREEN 714.20 714.20 5.00 APL APOLLO TUBES 2840.00 2879.95 1.60 APOLLO HOSPITALS 2090.60 2112.95 1.48 BALKRISHNA INDS 1470.00 1497.15 1.48 BERGER PAINTS 581.00 599.50 -1.07 » More on 52 Week High

2:36 PM IST Shares of KEC International were trading higher for the fourth straight day, up 5 per cent at Rs 349 on the BSE on Tuesday. The stock of the heavy electrical equipment company was trading close to its 52-week high level of Rs 359 touched on September 15, 2020. In the past four days, it has rallied 14 per cent on the BSE, BSE data show. READ MORE

2:27 PM IST

2:27 PM IST According to ongoing discussions between the two companies, the super app could be launched as a joint venture between Tata and Walmart, leveraging on the synergies between Tata's e-commerce business and Flipkart, Walmart's e-commerce unit, according to the report. READ MORE

LIVE UPDATES

SECTOR WATCH | Nifty Metal index gains nearly 2%


MARKET AT CLOSE | Gainers and losers on the S&P BSE Sensex


CLOSING BELL

The S&P BSE Sensex ended 8 points, or 0.02 per cent lower at 37,973 while NSE's Nifty ended at 11,222, down 5 points, or 0.05 per cent. 


MARKET CHECK


Titan Co trades over 2% higher


Logistic shares rally; Blue Dart Express, Gati surge over 10%

Shares of transportation and ,logistics companies rallied up 12 per cent on the BSE on Tuesday on expectations of improved earnings as global freight rates are taking off. Among individual stocks, Blue Dart Express and Gati rallied 11 per cent and 12 per cent, respectively. Snowman Logistics, VRL Logistics, Mahindra Logistics and TCI Express were up in the range of 3 per cent to 7 per cent on the BSE. In comparison, the S&P BSE Sensex was up 0.5 per cent at 38,168 points at 02:34 pm. READ MORE

Ashok Soota debuts in Hurun India rich list with Happiest Minds bumper IPO

Given the stellar initial public offer Of Happiest Minds, its founder Ashok Soota made a debuts in this list with wealth totaling Rs 3,700 crore. Radhakishan Damani, founder of Avenue Supermarts, on the other hand, broke into the top 10 wealthiest individuals ranking in the IIFL Wealth Hurun India Rich List 2020. READ MORE

MF distributor or registered investment advisor: Whom should you choose?

If you need an expert handholding to invest your money to achieve your financial goals, you might face the dilemma of whom to approach – a Registered Investment Advisor (RIA) or a distributor.
 
Securities Exchange Board of India (Investment Advisors) (Amendment) Regulations that kick in on October 1, 2020, has made a clear distinction between an RIA and a mutual fund distributor and has segregated the two activities. READ MORE

Stocks that hit 52-week high on BSE today

COMPANY PRICE(rs) 52 WK HIGH CHG(%)
ADANI GREEN 714.20 714.20 5.00
APL APOLLO TUBES 2840.00 2879.95 1.60
APOLLO HOSPITALS 2090.60 2112.95 1.48
BALKRISHNA INDS 1470.00 1497.15 1.48
BERGER PAINTS 581.00 599.50 -1.07
» More on 52 Week High

KEC Int'l trades higher for fourth straight day, stock nears 52-week high

Shares of KEC International were trading higher for the fourth straight day, up 5 per cent at Rs 349 on the BSE on Tuesday. The stock of the heavy electrical equipment company was trading close to its 52-week high level of Rs 359 touched on September 15, 2020. In the past four days, it has rallied 14 per cent on the BSE, BSE data show. READ MORE

MARKET CHECK | Sensex up 136 pts


Walmart in talks to invest $25 bn in Tata Group's 'super app': Report

According to ongoing discussions between the two companies, the super app could be launched as a joint venture between Tata and Walmart, leveraging on the synergies between Tata's e-commerce business and Flipkart, Walmart's e-commerce unit, according to the report. READ MORE

BROKERAGE VIEW | ICICI Securities on Laurus Labs

Shares of Laurus Labs have been split on September 29, 2020 (ex-date) pursuant to the board and shareholder approval granted for sub-division of shares in its meetings on April 30, 2020, and July 9, 2020, respectively. The record date for the same has been fixed as September 30, 2020. Subsequently, the shares of the company have been split in the 1:5 ratio — an equity share with the existing face value of Rs 10 has been sub-divided into five equity shares of Rs 2 face value each. Consequently, the share price has changed to Rs 292/share from Rs 1,460/share. Accordingly, our target price has also been revised to Rs 325/share from Rs 1,620/share earlier. After the recent run-up, the stock offers limited upside from here on. We change our recommendation from BUY to HOLD. Our target price is based on 22x FY23E EPS (revised) of Rs 14.7.

RIL up over 1%


Rupee Closing

Rupee ends at 73.85 per US dollar vs Monday's close of 73.78/$

BROKERAGE VIEW | ICICI Securities on Supreme Industries

RATING: BUY | TARGET PRICE: Rs 1,650

Supreme Industries’ sharp business recovery post easing of lockdown restrictions depicts its strong supply chain networks and deep rural penetration. We change our rating from HOLD to BUY and value the company at 35xFY22E earnings with a revised target price of Rs 1,650/share.

GMM Pfaudler freezes at 5% upper circuit after declining 42% in 2 weeks

Shares of GMM Pfaudler were locked in the 5 per cent upper circuit band at Rs 3,821 on the BSE on Tuesday, rebounding 11 per cent from its early morning low of Rs 3,458 a piece. The stock reversed its recent correction when it fell over 40 per cent in the past two weeks. The stock of the company which manufactures glass-lined equipment for the pharmaceutical and chemical industries, has fallen below its offer-for-sale (OFS) price of Rs 3,500 per share. READ MORE

BROKERAGE VIEW | Edelweiss Securities on Welspun India

With consumers continuing to loosen their purse strings in the US and lower inventory levels at global retailers driving restocking, we revise up WLSI’s utilisation estimates and thus FY21/22E EBITDA 3%/1%. The company’s valuations had contracted given the uncertainty triggered by Covid. However, a sharper-than-expected normalisation and the company’s leadership during this phase compel us to revise up target multiple to 7.0x EV/EBITDA (FY22E)--its pre-Covid five years’ average. Hence, we revise up TP to Rs 75 (Rs 48 earlier). We maintain ‘BUY’.

TOP SECTORAL LOSER:: Nifty PSU Bank index dips 3%


European indices trade lower in early deals



Sept Auto Sales :: Emkay Global expects upward trajectory to continue in Tractors, PVs and 2Ws


Strides Pharma hits a fresh 52-week high; stock gains 14% in one week

The stock of the pharmaceutical company has rallied 14 per cent in the past one week after its subsidiary, Strides Pharma Global Pte Ltd, received approval from the United States Food and Drug Administration (USFDA) for Butalbital, Acetaminophen, and Caffeine tablets, used to treat tension ((or muscle contraction) headache. READ MORE 


NEWS ALERT :: SBI Card ties up with American Express

>>  SBI Card and American Express have entered a strategic partnership to offer a mix of global benefits and exclusive privileges for discerning consumers in India. With this partnership, SBI Card`s top end premium products – SBI Card ELITE and SBI Card PRIME will be available on American Express’ global network.

via BSE filing

Chemcon Speciality Chemicals, CAMS IPO: Check allotment status here

The bumper response to the intial public offers (IPOs) of Chemcon Speciality Chemicals and Computer Age Mamagement Services (CAMS), has raised hopes for their stellar listing at the bourses, likely on October 1. The allotment of shares for these two IPOs has been finalised and investors may check the status either on the BSE website or on Link Intime India. CHECK HERE

SBI Cards: Analysts see more upside given distribution network, biz model

The stock of State Bank of India subsidiary has staged a steady northward journey since its listing on March 16, 2020. After a minor blip on May 22, when it touched its 52-week low of Rs 495 apiece, the stock is up an impressive 72 per cent including today’s intra-day gain, ACE Equity data show. In the past two months, the stock has rallied 15 per cent from on the BSE as against a 5 per cent rise in the benchmark S&P BSE Sensex. READ MORE

Apollo Hospitals up over 2%


Sebi, not EOW, should handle mutual fund issues: Franklin Templeton

Franklin Templeton Asset Management India (FTAMIL) has said the Securities and Exchange Board of India (Sebi) -- rather than the Economic Offences Wing (EOW) – should deal with issues related to mutual fund investments. “We have the utmost respect for all statutory authorities, including EOW. However, we believe that Sebi, the specialised regulator for the securities market, is best placed to handle any issues related to mutual fund investments,” Templeton said in a note to unitholders on Monday. READ MORE

Top losers on BSE at this hour

COMPANY PRICE(rs) CHG(%)
VODAFONE IDEA 9.73 -5.90
ALOK INDUSTRIES 20.60 -4.63
BANK OF BARODA 41.70 -3.81
SYNGENE INTL. 566.25 -3.72
BHARTI INFRATEL 178.95 -3.69
» More on Top Losers

IndusInd Bank trades over 3.5% lower


37,300 level crucial for Sensex. A dip below this can trigger a correction

After gaining since the past few sessions, the markets witnessed choppy trade on Tuesday with the benchmark indices - the S&P BSE Sensex and the Nifty50 - failing to hold on to gains in intra-day deals. The trend among Nifty sectoral indices was largely negative, led by Nifty PSU Bank index, down 2 per cent. Experts said investors are hoping that the US lawmakers reach an agreement regarding a stimulus package. . Will the markets be able to hold on to higher levels going ahead or will they succumb to profit booking? READ MORE 



 

Hero MotoCorp gains 3%, hits over 2-year high on Co's demand forecast

Shares of Hero MotoCorp hit an over two-year high of Rs 3,196 on the BSE on Tuesday after rising 3.5 per cent on expectation of improving demand, going forward. The two-wheeler manufacturer's stock was trading at its highest level since December 27, 2018. In the past three months, Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, has outperformed the market by surging 27 per cent, against 9 per cent rise in the S&P BSE Sensex. READ MORE

IPO UPDATE | Mazagon Dock Shipbuilders IPO subscribed 50% so far on Day 1

(Source: NSE)

BROKERAGE VIEW | Emkay Global on Cement sector

We remain positive on the sector and expect industry volume to start improving from Q4FY21. Demand recovery in North, Central and East regions surprised positively after easing of the lockdown norms and there should be gradual improvement in demand in South/Maharashtra markets. We expect cement prices to improve after the monsoon season. We have an OW stance on ACC, Ambuja, UltraTech, Birla Corporation, JK Cement and JK Lakshmi in sector EAP. We are UW on Grasim Industries and EW on Shree/Ramco Cement.

Nifty sectoral indices at this hour


Colgate investors may smile again on likely turnaround in toothpaste business

The loss of market share in the toothpaste business in the past couple of years because of competitive intensity has been a major worry for Colgate-Palmolive (India)’s investors. And, the same is also palpable in its stock performance. Colgate's share price is down nearly 8 per cent over a year, twice the fall in Nifty FMCG index during the same period. READ MORE 


India-focused funds may soon get fast approval from Mauritius regulator

Mauritius had been taking a bit longer to greenlight India-focused funds in the recent past, with the country’s financial services regulator busy in activities aimed at exiting the grey and black lists of the Financial Action Task Force (FATF) and the European Union (EU), respectively. That may be about to change as Mauritius is done with most of its submissions and progress reports to the two bodies, said people in the know. READ MORE 

 

MARKET CHECK


IT shares gain on US stimulus hope; TCS, Infosys near record highs

Shares of information technology (IT) were trading up to 3 per cent higher at the bourses on Tuesday on report that the US government is working on a stimulus of $2.4 trillion. Tata Consultancy Services (TCS) gained 3 per cent to Rs 2,505 on the National Stock Exchange (NSE). The IT major's stock was trading close to its all-time high level of Rs 2,555, touched on September 22, 2020. Infosys was also up nearly 2 per cent to Rs 1,028, near its record high of Rs 1,037, hit on September 23. READ MORE 


Top losers on the BSE at this hour


BROKERAGE VIEW | LKP Securities on Raymond

RATING: BUY | TARGET PRICE: Rs 485 

Investment Argument
  • The steep correction in the stock price of Raymond provides the Contrarion Investor an opportunity to invest in a high quality consumer franchise as we enter the unlock phase of the Pandemic.
  • The Demerger of its Lifestyle Business, rapid strides taken in its Real Estate Business along with the consolidation of its FMCG Business should in our view put to rest street apprehensions, if any, on its Future Focused Strategy.
  • The 80 acre land parcel in Thane should help Raymond execute its de-leveraging strategy going forward.
  • Execution of its strategy on various non-core business verticals in our view should only help hasten the recovery process going forward.
  • We Initiate Coverage on Raymond and recommend a BUY with a 12 month SOTP based price objective of Rs 485.

Natco Pharma trades nearly 4% higher


Defence related stocks in focus; Bharat Dynamics, HAL gain up to 4%

Defence Minister Rajnath Singh on Monday unveiled the new Defence Acquisition Procedure of 2020 (DAP 2020), which will govern the procurement of defence equipment from the capital budget. It will supersede the Defence Procurement Procedure of 2016 from October 1, the Business Standard reported. READ MORE  



BUZZING STOCK | Shalby jumps over 9%


BROKERAGE VIEW | ICICI Securities on HeidelbergCement India

RATING: BUY | TARGET PRICE: Rs 230

HEIM enjoys industry-leading +20% return ratios, as its EBITDA/te more than doubled over the past four years to Rs1,122/te in FY20 led by +6% realisation CAGR. Given no major organic expansion plans over FY21- 22E, net cash is likely to increase to Rs6.8bn by FY22E from the current Rs1.6bn. We initiate with a BUY rating and target price of Rs 230/share (7xSep’22E EV/E).

MARKET CHECK :: Sensex off highs


Maruti Suzuki gains 1% on report Morgan Stanley ups target

>> Revised target price is now Rs 7,570 apiece


IndusInd Bank slips 1%


Lakshmi Vilas Bank trades marginally higher

>> Clix Capital and its affiliates, in talks with beleaguered Lakshmi Vilas Bank (LVB) for an amalgamation, may seek some regulatory dispensations for the deal to crystalise. 


Shalby gains around 4%

>> The company's board has approved the reduction of promoter holding from the current 79.45 per cent to 75 per cent and raising of up to Rs 117 crore.


IIFL trades higher despite rating downgrade

>> Moody's has downgraded IIFL Finance Ltd's corporate family rating (CFR) and secured debt from “B1” to “B2” on prospects of deterioration in asset quality and profitability due to a rise in loan delinquencies and defaults.


Infosys up over half a per cent

>> EdgeVerve Systems, a wholly-owned subsidiary of Infosys, recently signed a partnership with Minit, a leader in process mining, to help clients accelerate process excellence, Infosys said on Monday. In a separate development, Infosys and the French Tennis Federation, Monday announced the latest innovations set to hit the courts at this year’s Roland-Garros, as part of the second year of the strategic technology partnership.


BPCL gains over 1%

>> The management of Bharat Petroleum Corporation (BPCL) on Monday said that 2 per cent of its treasury stock will be transferred to a separate trust, while the remaining 7.33 per cent is likely to be sold in a bulk deal.


Sectoral trends at Open :: Metal, realty stocks trade higher


Sensex Heatmap :: Broad-based buying lifts markets


Opening Bell


Opening Bell


Commodity Heatmap


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


Markets at Pre-open


Markets at Pre-open


Vedanta De-listing :: Reverse Book building opens on Oct 5

>> Bid closes on Oct 9

>> Last date for revision/withdrawal of bids: Oct 8

>> Exit price to be announced on Oct 16

>> Co received in-principal approval from Sebi on Sept 28

(Source: CNBC TV18)

Stocks to watch out for today

BPCL: The management of Bharat Petroleum Corporation (BPCL) on Monday said that 2 per cent of its treasury stock will be transferred to a separate trust, while the remaining 7.33 per cent is likely to be sold in a bulk deal.
 
Defence-related stocks: Defence Minister Rajnath Singh on Monday unveiled the new Defence Acquisition Procedure of 2020 (DAP 2020), which will govern the procurement of defence equipment from the capital budget. It will supersede the Defence Procurement Procedure of 2016 from October 1.
 
Infosys: EdgeVerve Systems, a wholly-owned subsidiary of Infosys, recently signed a partnership with Minit, a leader in process mining, to help clients accelerate process excellence, Infosys said on Monday. In a separate development, Infosys and the French Tennis Federation, Monday announced the latest innovations set to hit the courts at this year’s Roland-Garros, as part of the second year of the strategic technology partnership. READ MORE 


BROKERAGE VIEW :: Kotak Institutional Equities on L&T Infotech

Fair value: Rs 2,800 | Reco: Add

>> LTI remains well-positioned to lead the industry on growth. In our conversation, Sanjay Jalona, the CEO of the company and Ashok Sonthalia, the CFO, highlighted—(1) demand recovery is largely healthy, (2) Covid has pushed organizations to change operating models, driving technology spends and benefiting LTI, (3) demand for large deals is intact although conversions have been delayed in a few cases, and (4) new account openings can be impacted for the industry. We retain our constructive view on the company.

Mazagon Dock Shipbuilders IPO opens today, gets thumbs up from brokerages

The objectives of the IPO is to carry out the disinvestment of 30,599,017 equity shares constituting 15.17 per cent of company’s pre-offer paid up equity share capital and to achieve the benefits of listing on the stock exchanges, the company said YES Securities, Axis Capital, Edelweiss Financial, IDFC Securities and JM Financial are the managers to the offer. READ MORE

UTI AMC IPO opens today; should you subscribe?

The initial public offer (IPO) of UTI Asset Management Company (AMC) is set to open today for subscription. The price band of the offer has been fixed at Rs 552 to Rs 554 per equity share. At the upper price band, the issue size stands at Rs 2,160 crore. The offer is proposed to close on October 1 (Thursday). On Monday, the company raised Rs 644.64 crore from anchor investors by allocating 11,636,124 shares at Rs 554 apiece. READ MORE

BROKERAGE VIEW :: Axis Securities on Trent

Target price: Rs 786 | Reco: Buy

>> We initiate coverage on Trent Ltd (Trent) with a BUY rating and a Target Price of Rs 786 based on SOTP valuation methodology. We believe Trent is well placed to bounce back post (impact of COVID-19) FY21E led by 1) Westside’s success in retail concept (only format to consistently deliver healthy SSSG and high store metrics amongst peers) driven by exclusive/trendy offerings at competitive prices 2) Significant growth opportunities in Zudio format driven by aggressive store additions beyond metros & rise in consumer preference towards value fashion owing to the pandemic led financial constraints 3) Sustainable margins led by Westside’s private label driven business model, higher focus on improving back end and fast fashion supply chain, superior store execution capability & diligent focus on cost efficiency 4) Significant improvement in return ratios (ROE to rise from 6% to 11% over FY20-23E) 5) Healthy balance sheet and additional capital raise (Rs 950 crs via its promoter group-Tata Sons) to support its ramp up in store addition plans in underpenetrated mirco markets across fashion formats (Westside/Zudio).

BROKERAGE VIEW :: Nirmal Bang on IT sector

>> We see some cross-currency tailwind, which would add 100-200bps to QoQ growth across most of our coverage universe in 2QFY21.

>> We have raised our target PE multiples for our coverage universe to account for what could potentially be stronger growth than we have currently projected. 

>> We continue to have a ‘neutral’ stand on the sector (read our 6th September 2020 note to understand why) with a modestly positive bias. From a stock perspective, due to the strong run-up seen across most of them, only HCL Technologies remains a ‘Buy’ while all else have an ‘Accumulate’ rating.

BROKERAGE VIEW :: MOFSL on GSK Pharma

CMP: Rs 1,577 | TP: Rs 1,355 (-14%) | Reco: Neutral

>> GLXO is working on a three pronged strategy – (a) new introduction in both Pharma as well as the Vaccines segment, (b) expanding classic Vaccines, and (c) growing faster than the market in focus therapies.

>> While the COVID led disruption had an adverse impact on GLXO’s performance, the outlook is gradually improving with better MR-Doctor and Doctor-patient
connect.

>> We continue to value GLXO at 37x (25% discount to its 3-year average) to arrive at a price target of INR1,355 on 12M forward earnings basis. We believe that
improvement in outlook is adequately factored at valuation of 59x FY21E EPS of Rs 27 and 46x FY22E EPS of Rs 34. Hence, we maintain Neutral on the stock. 

Stock tips by Nilesh Jain of Anand Rathi

BUY RADICO KHAITAN | TARGET: Rs 440 | STOP LOSS: Rs 395
 
The stock has found the support of its rising trend line and has also formed a reversal candle on the daily chart. The momentum indicators and oscillators are in the buy mode on the weekly scales which hint that recent correction should be used as a buying opportunity. 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 slips as demand worries offset hopes for stimulus

>> Oil prices fell on Tuesday as demand concerns driven by Covid-19 outweighed hopes that US lawmakers and the White House were nearing an agreement on a new stimulus package to revive the world’s biggest economy.

>> US West Texas Intermediate (WTI) crude futures slipped 17 cents, or 0.4%, to $40.43, while Brent crude futures also fell 17 cents, or 0.4%, to $42.26 a barrel. Both benchmarks rose about 1% on Monday.

(Source: Reuters)

SGX Nifty update

>> At 8:20 am, the index was at 11,256 level, up 9.5 points.

Asian markets push higher after US bounce

Source: Reuters


Wall Street closes higher as energy, financials lead broad rally

Source: Reuters


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