MARKET WRAP: Sensex slides 642 pts amid rise in oil prices; autos worst hit

Equity markets came under heavy selling pressure on Tuesday on fears that a spike in crude oil prices following attacks on Saudi oil facilities could hurt the economy further. India’s current account and fiscal deficit could take a hit if oil prices continue to rise after the attack, RBI Governor Shaktikanta Das had said on Monday.

The S&P BSE Sensex plunged 642 points or 1.73 per cent to end at 36,481.09, with Hero MotoCorp (down over 6 per cent) being the worst performer and HUL (up 1 per cent) the bigggest gainer. Out of 30 constituents, 27 ended in the red and just 3 closed in the positive territory. 

During the session, the 30-share index hit a high and low of 37,169.56 and 36,419.09, respectively. HDFC, HDFC Bank, ICICI Bank, Axis Bank, Reliance Industries (RIL), and SBI emerged as the top contributors to the index's fall. On the flip side, Infosys, HUL, and Asian Paints gave the much-needed support. 

On NSE, the frontline index Nifty50 lost 186 points or 1.69 per cent to end at 10,818. Nifty Bank bled 723 points or 2.60 per cent to end at 27,132. 

Sectorally, all the indices on the NSE ended in the red. Auto stocks slipped the most, followed by realty and PSU bank scrips. The Nifty Auto index lost around 4 per cent to settle at 7,020.75 levels. 

Volatility index India VIX zoomed 7 per cent to end at 15.99. 

In the broader market, the S&P BSE MidCap index slipped 241 points, or 1.77 per cent, to 13,387 levels, and the S&P BSE SmallCap index lost 241 points or 1.84 per cent to close at 12,855. 

GLOBAL STOCKS

MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.66 per cent. Chinese shares fell 1.07 per cent, while Hong Kong shares slumped 1.18 per cent. Euro Stoxx 50 futures were down 0.11 per cent, German DAX futures were down 0.02 per cent, while FTSE futures fell 0.31 per cent. 

Brent crude, the international benchmark, fell 0.96 per cent to $68.39 per barrel. On Monday, it surged 14.6 per cent for its biggest one-day percentage gain since at least 1988. US West Texas Intermediate futures were down 1.29 per cent to $62.09 per barrel following a 14.7 per cent surge on Monday, the biggest one-day gain since December 2008.

(With inputs from Reuters)

3:54 PM IST

3:53 PM IST

3:39 PM IST The S&P BSE Sensex lost 642 points or 1.73 per cent to end at 36,481.09 levels while NSE's Nifty50 index ended at 10,818, down 186 points or 1.69 per cent.

3:27 PM IST

2:59 PM IST

2:52 PM IST (Via CNBC TV18)

2:50 PM IST (Source: Bloomberg)

2:41 PM IST

2:39 PM IST S&P Global Platts Analytics forecast Dated Brent prices are likely to test the high $70s as currently supported by fundamentals. Price could move higher if Saudi production is confirmed to be curtailed for a more substantial period – but this is not our current assumption. However - it is legitimate to ask whether $80 Dated Brent could tip an already weakening global economy into recession.  Prior to the attacks on Saudi Aramco, S&P Global Platts Analytics previous research shows a 35% chance of recession and questioned whether the spike in Dated Brent as a result of IMO2020 could be the tipping point. A $20/bbl increase in oil prices reduces global GDP by 0.35%.   The global economy has already weakened significantly over the past 9 months, and is currently estimated to be growing at 2.9%, well below the long-term trend. Normal recessions have in the past produced global GDP growth rates between 2.0% and 2.3%. In the post-world-war period, only the Recession in 2008-2009 produced negative economic growth rates globally. Therefore, the global economy could be pushed very close to a normal recession territory if oil prices test $80/bbl 

2:35 PM IST On one hand, OPEC and Russia have some room to increase supply, and oil inventories can also be tapped to fill the temporary void from the lost Saudi production (and all this is happening against a backdrop of weakening global growth). If this truly is a temporary, one-off disruption, then oil prices could stabilise near current levels. On the other hand, if there is strong retaliation or more drone attacks, the situation could spiral out of control; in the worst case, it could escalate into a full-blown crisis in the Middle East and lead to larger and more permanent oil supply declines.

2:32 PM IST

2:28 PM IST

LIVE UPDATES

Here's how sectoral indices on the NSE performed today


MARKET CHECK | S&P BSE Heatmap at close


CLOSING BELL

The S&P BSE Sensex lost 642 points or 1.73 per cent to end at 36,481.09 levels while NSE's Nifty50 index ended at 10,818, down 186 points or 1.69 per cent.

MARKET CHECK | Nifty Bank bleeds nearly 750 pts


Sector watch | Nifty Bank declines more than 600 pts


MARKET ALERT | 36 Nifty companies trade below 200-DMA

(Via CNBC TV18)

CURRENCY CHECK | Rupee approaches 72/USD

(Source: Bloomberg)

Market check | Buying on dips helps Sensex recover partially


COMMENT :: Chris Midgley, global head of analytics, S&P Global Platts

S&P Global Platts Analytics forecast Dated Brent prices are likely to test the high $70s as currently supported by fundamentals. Price could move higher if Saudi production is confirmed to be curtailed for a more substantial period – but this is not our current assumption. However - it is legitimate to ask whether $80 Dated Brent could tip an already weakening global economy into recession. 

Prior to the attacks on Saudi Aramco, S&P Global Platts Analytics previous research shows a 35% chance of recession and questioned whether the spike in Dated Brent as a result of IMO2020 could be the tipping point. A $20/bbl increase in oil prices reduces global GDP by 0.35%.
 
The global economy has already weakened significantly over the past 9 months, and is currently estimated to be growing at 2.9%, well below the long-term trend. Normal recessions have in the past produced global GDP growth rates between 2.0% and 2.3%. In the post-world-war period, only the Recession in 2008-2009 produced negative economic growth rates globally. Therefore, the global economy could be pushed very close to a normal recession territory if oil prices test $80/bbl 


Nomura on oil prices

On one hand, OPEC and Russia have some room to increase supply, and oil inventories can also be tapped to fill the temporary void from the lost Saudi production (and all this is happening against a backdrop of weakening global growth). If this truly is a temporary, one-off disruption, then oil prices could stabilise near current levels. On the other hand, if there is strong retaliation or more drone attacks, the situation could spiral out of control; in the worst case, it could escalate into a full-blown crisis in the Middle East and lead to larger and more permanent oil supply declines.

Bank stocks among top losers today


Most Energy stocks slip as crude oil price rises


Sensex heat map

(Source: BSE)



NEWS ALERT | PMLA Appellate Tribunal releases assets of 63 Moons from ED attachment: CNBC TV18

-- Restrains 63 Moons from dealing in the assets till pendency of other issues at PMLA court


NEWS ALERT | NHPC Board approves raising up to Rs 2,500 cr in FY20: BSE Filing


Market check | Sensex plunges 680 pts


MARKET ALERT | Nifty turns negative for 2019

(via CNBC TV18)


Market check | Bears tighten grip


Global Markets Check

European shares fell on Tuesday, dragged by Germany’s Zalando, while energy stocks gave up some gains as crude prices eased slightly after surging in the aftermath of attacks on oil facilities in Saudi Arabia.

Zalando (ZALG.DE) tumbled 8 per cent, pulling down STOXX 600 index , after a share placement by top investor Kinnevik in the e-commerce retailer. The pan-European STOXX 600 dropped 0.2 per cent, with the retail index down 0.7 per cent.

Asian shares ended Tuesday's session flat. Japan's Nikkei settled 0.06 per cent higher, Sotuh Korea's Kospi added 0.01 per cent, while China's Shanghai Composite dipped 1.74 per cent.

(Via Reuters)

Nifty tests 10,850 level


Brent Crude slips around 1%

(Source: Bloomberg)

Market check


India VIX spikes 6%


MARKET CHECK | Around 38 securities hit 52-week low on NSE

Drone attack on Saudi oil facilities: Biggest disruption in three decades

The drone attack on Saudi Aramco’s Abqaiq oil processing facilities on Saturday almost destroyed the plants. It resulted in a direct disruption of nearly 5.7 million barrels of oil per day from Saudi Arabia to the world.
 
Put in context to the overall daily supply of crude oil, which was 99.24 million barrels per day (mbpd) in August 2019 (Opec data), this disruption was more than 6 per cent of global oil supply. READ MORE

NEWS ALERT | Tata Comm & CreditPilot enter into p'ship to offer mobile, digital financial services sol to mobile operators


Emkay Global on Indraprastha Gas

■    Indraprastha Gas (IGL) has maintained its volume growth guidance of 11-12% yoy for FY20/21E, with CNG and domestic PNG sales expected to increase at a 10-11% rate while industrial/commercial (I/C) PNG could see a higher 14-15% rate.
 
■    IGL has cited Q1FY20 EBITDA/scm of Rs6.3 as the new margin guidance, adjusted for IndAS 116. Blended margins are currently pulled down by lower third-party trading margins although after HCG Gurgaon acquisition, there could be some upsides.
 
■    The valuation exercise of HCG Gurgaon is still underway and the parties are yet to reach a consensus. The final order will be issued by the Supreme Court. The next date of hearing is in the last week of September 2019.
 
■    We maintain our estimates and target price of Rs330, valuing IGL on a SOTP-DCF basis. We have a Hold rating due to the expensive valuation of over 20x FY21E consol. EPS. We are also UW on the stock in sector EAP.

NEWS ALERT | Not the business of govt to remain in business like STC and PEC, says Commerce Minister: CNBC TV18

-- Govt should not run companies only for gold imports: Commerce minister
 
-- Original purpose of PSUs like STC and PEC have come to an end

HSBC on US Fed expectation

This week, the US Federal Reserve (Fed) is expected to cut the federal funds target range by 25 bps to 1.75%-2.00%. Recent evidence of firming inflationary pressure is likely to reduce the probability of more aggressive action. Policymakers have become increasingly concerned about slowing global growth and the negative impact of trade tensions. This has already led to an interest rate cut in July.

The latest summary of economic projections will be published at the same time, providing an update from officials on the anticipated path of policy, economic activity and inflation. Fed Chair Jerome Powell is also likely to repeat a commitment to act appropriately to sustain the domestic expansion at the post-meeting press conference.

Kotak Securities on Gujarat Gas Limited (GGL)

We expect GGL to report an EPS of Rs.11.6 in FY20E and Rs.12.6 in FY21E. We recommend ADD on the stock. We maintain our positive view on GGL with a
multiple based price target of Rs.194/share. Margin improvement and strong revenue visibility makes us positive on its growth prospects. Additionally, strong free cash flow and healthy return ratios also provide high comfort. We value GGL at 15.4x PE (25% discount to its peers) based on EPS of Rs.12.6 for FY21E.

MAYBANK KIM ENG VIEW :: TCS

TCS secures additional business from General Motors

We believe this is positive for Tata Consultancy Services (TCS) as it enhances revenue visibility. Yesterday, TCS has announced a new partnership with General Motors for vehicle engineering for 5 years. TCS will acquire certain assets at the GM Technical Center in Bengaluru along with it’s over 1,300 employees.

TCS has been a service provider to General Motors for the last 16 years. The financials of the contract are not disclosed but we believe the size will be about USD50-60m pa. We have HOLD on TCS with target price of Rs 2,285, pegged at 21x FY21E EPS, 1SD above its 5-year average P/E.

Market check | Sensex slides over 500 pts


MARKET COMMENT :: Jitendra Gohil, head of India equity research, Credit Suisse Wealth Management

In this slowing growth environment, but with accommodative monetary and fiscal policies, we expect global equity markets will continue to remain resilient, and hence our investment committee has recently upgraded global equities to positive from neutral. For India, while the earnings season has been disappointing and the outlook is weak, we believe valuation froth in Indian equities has settled.

The MSCI India is now trading at a 12-month forward PE of 16.8, at a premium to the MSCI EM Index of 46%, in line with its 10-year historical average, down from the peak of 74% premium in Sept 2018. Even assuming more downgrades to come in the rest of the year, India still offers higher growth potential versus peers and with an accommodative monetary policy stance by local and global central banks, overall equity valuation could see resilience, in our view

JItendra Gohil, India equity research head at Credit Suisse

Motilal Oswal on cement sector

Q1FY20 saw strong pricing growth (>10%) across the country, driving margins higher. Since then prices have moderated a bit due to weak demand. However, we still expect robust margin outlook, particularly for companies in the North and Central India where we forecast utilization to sustain at ~85% or more. We prefer companies that are moving down the cost curve as well as those that provide valuation comfort. UltraTech, therefore, is our top large-cap pick followed by ACC. JK Cement is our top mid-cap pick

NEWS ALERT | ICRA revises UFO Moviez's long-term outlook to 'negative' from 'stable' : BSE filing

-- It kept the rating unchanged i.e A1+


Rupee depreciation a breather for IT companies: Kotak Securities

We increase earnings per share (EPS) estimates by 0-4 per cent factoring in KIE economist’s revised INR/USD estimates and appreciation of USD against GBP, EUR and AUD in the September 2019 quarter to date. Infosys, TCS and Mindtree will accrue higher benefit from rupee depreciation in the near term. We increase fair value of companies under our coverage by 0-7 per cent on the back of increased EPS estimates and three months roll-forward to September 2019 quarter. We retain cautious view on the sector.

Market check | Sensex slips over 450 pts


Index Contributors at this hour


Market check | Nifty50 breaches 10,900-mark


Market check | Sharp slide in markets


HDFC trades below 200-DMA

Alert: DMA is Day Moving Average

(Via CNBC TV18)


Public sector banks seek relaxation on risk weight for NBFC loan purchases

Public-sector banks (PSBs) have sought a relaxation in risk weight for retail loans they will buy from non-banking financial companies (NBFCs) under a partial credit guarantee scheme backed by the government. Banks have to set aside capital for loan exposures based on the risk weight linked to an asset class. READ MORE HERE

ICICI Securities on Tata Communications

We now remove the land value of Rs 263/share from our target price and value the residual company (TCL) at an SOTP target price of Rs 260/share. We value global data solutions (GDS) business at 5x FY21 EV/EBITDA while the voice business is valued at 3x FY21 EV/EBITDA. We maintain our HOLD rating on the company.

BSE Oil & Gas index is trading lower; BPCL, HCPL slip 2%


Market check | Sensex trading near day's low


Axis Bank slides over 2%


Elara Capital on Eicher Motors

Rating: SELL
 
Target Price: Rs 13,000
 
Downside: 22%
 
CMP: Rs 16,689 (as on 13 September 2019)
 
With demand remaining weak and a subdued festival season in Maharashtra and Kerala, we cut our FY20-21E EPS by 6-7 per cent on volume and margin cuts. We reiterate Sell with a new SOTP-based target price of Rs 13,000 from Rs 13,928, with 17x (unchanged) FY21E P/E for RE business and 10x (unchanged) FY21E EV/EBITDA for Volvo Eicher Commercial Vehicles (VECV).

Market check


Market check


Tata Communications locked in 5% upper circuit as stock turns ex-spin off

Till 10:56 am, a combined 20,681 equity shares changed hands and there were pending buy orders for 1.4 million shares on the NSE and BSE, the exchange data shows.
 
The Board of Directors of Tata Communications had fixed Wednesday, September 18, 2019 as the record date for determining the shareholders who shall be eligible to receive the equity shares of Hemisphere Properties India (HPIL). READ MORE

Sector watch | Nifty PSU banks decline


Axis Bank slumps over 2%


Most active stocks by volume

COMPANY PRICE(rs) CHG(rs) CHG(%) VOLUME
VODAFONE IDEA 5.07 -0.17 -3.24 9884884
YES BANK 68.05 0.95 1.42 3353243
S A I L 34.95 1.60 4.80 2879794
PC JEWELLER 42.35 5.10 13.69 1641043
REL. COMM. 0.94 0.04 4.44 1533770
» More on Most Active Volume

Vinati Organics hits new high in weak market, surges 33% from August low

Shares of Vinati Organics (VOL) hit a new high of Rs 2,397, up 4 per cent, on the BSE on Tuesday in an otherwise weak market amid expectations of healthy margins going forward. In comparison, the S&P BSE Sensex was down 0.56 per cent at 36,915 points at 10:33 am. The stock has rallied 33 per cent from its recent low of Rs 1,801 on August 2, 2019, against nearly 1 per cent decline in the benchmark index in the same period. READ MORE

BSE SmallCap gains for 9th day in a row; Shankara Building up 73% in 2 wks

In the past two weeks, the S&P BSE Smallcap index has outpaced the market by surging 6 per cent, as compared to a 3 per cent rise in the S&P BSE Midcap and 1.3 per cent gain in the benchmark S&P BSE Sensex.
 
Shankara Building Products, India Tourism Development Corporation (ITDC), Goa Carbon, HEG, Khadim India, Rain Industries, TVS Electronics and Liberty Shoes were among the beaten down stocks, which have rallied between 40 per cent and 73 per cent since September 3. READ MORE

Kaveri Seed Company plans share buyback, stock gains 2%

Kaveri Seed Company gained 2.3 per cent to Rs 541.95 per share in the morning deals on the BSE on Tuesday after the company said its Board would consider share buyback of fully paid-up equity shares.
 
"A meeting of the Board of Directors of the company will be held on Tuesday, September 24th, 2019, to consider a proposal for buyback of fully paid-up equity shares, quantum and mode of buyback and other matters incidental thereto in accordance with rules laid down by Securities and Exchange Board of India (Sebi)," it said in an exchange filing. READ MORE

STC, MMTC crash up to 18% on report govt plans to shut operations

Shares of State Trading Corporation (STC) and Metals & Miners Trading Corporation of India (MMTC) plunged up to 18 per cent on Tuesday on report that the Commerce Ministry has decided to close down the stateowned trading firms along with the Project and Equipment Corporation of India (PEC).
 
The department of commerce may soon approach the cabinet with the proposal, The Economic Times reported.READ MORE HERE

NEWS ALERT | Tata Power executes divestment of 50% stake in South African JV for $106 m: BSE Filing


NEWS ALERT | BEML & Wipro Infrastructure Engineering enter into strategic partnership: BSE Filing

-- Partnership to collaborate on Aerospace, Industrial Automation, SD Printing, Artificial Intelligence & Hydraulic System Engineering


Muthoot Capital Services Ltd surges 20%


Market check | Sharp slide in Sensex


Explained: Is SBI repo-linked home loan product good for retail borrowers?

With the Reserve Bank of India (RBI) making it mandatory for banks to introduce products linked to external benchmarks — the repo rate, three-month Treasury bill, six-month Treasury bill or any rate published by the Financial Benchmark India (FBIL) — from October 1, the country’s largest bank, State Bank of India (SBI), has already introduced the first repo rate-linked home loan product. READ MORE

Momentum Picks by ICICI Securities


Market check


CG Power hits 5% upper circuit after KKR India picks up 10% stake

As per the latest bulk deal data on the NSE, KKR India Debt Opportunities Fund II and KKR India Financial Services Ltd acquired a total number of over 6.26 crore shares or around 10 per cent stake in CG Power. The scrips were bought at an average price of Rs 14.25 apiece, amounting to a total of Rs 89.31 crore. READ MORE


Market check


Global investors bet $45 bn on Modi's India. Now they are reversing it

After pouring $45 billion into India’s stock market over the past six years on hopes that Modi would unleash the country’s economic potential, international money managers are now unwinding those wagers at the fastest pace on record. They’ve sold $4.5 billion of Indian shares since June, on course for the biggest quarterly exodus since at least 1999. READ MORE

R Ramamoorthy appointed chairman and managing director of Cognizant India

Ramamoorthy, who has been with the company for more than 21 years, played a leading role in developing many of the company's India-based portfolios, including marketing and communications, market research and intelligence, public affairs, and knowledge management. READ MORE
Cognizant India CMD Ramkumar Ramamoorthy

Gujarat Narmada Valley Fertilizers & Chem adds nearly 4%


UltraTech Cement declines a per cent


Coffee Day Enterprises rises 2%


Piramal Enterprises trades flat with positive bias


Lakshmi Vilas Bank dips over 3%


Kaveri Seed rises 3%


Jet Airways trades a per cent higher


NBCC gains 0.6%


Aavas Financiers trades mildly higher


Indiabulls Housing Fin declines 2% in morning deals


Bharti Airtel slips in trade


TCS trades marginally lower


Coal India sheds around 1%


CG Power gains 5%


State Trading Corp declines over 16%


MMTC slides 13% in morning trade


SAIL gains over 4% in early trade


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


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


Market at Pre-open


Market at Pre-open


Rupee opening

Rupee opens weaker at 71.82/$ vs Monday's close of 71.60 against the US dollar

NEWS ALERT | Bharti Airtel begins talks to sell stake in merged Co of Bharti Infra & Indus Towers: sources to CNBC TV18

-- ATC, Brookfield interested parties in buying stake

-- Bharti Airtel hopes to fetch $3.2-3.5 billion

-- Talks at initial stage, to be taken forward post merger completion of Bharti Infra-Indus

Alert: Bharti Airtel to hold 37.2% in merged entity

Bandhan Bank: A bottom fishing opportunity for long-term investors

Concerns over the near-term impact of its merger with Gruh Finance and the pending promoter stake dilution among others, has weighed on investor sentiment for Bandhan Bank, which had a great listing in March last year. With a fall of over 16 per cent in its share price in the last three months, Bandhan Bank has also underperformed the Nifty Bank index that fell by 9 per cent during the same period. READ MORE

LIC equity kitty takes Rs 57,000 crore hit in Q2FY20 amid market weakness

Selling pressure on frontline stocks and weakness in the broader markets have weighed on the equity portfolio of Life Insurance Corporation (LIC) to the tune of Rs 57,000 crore in the current quarter. The insurer is known for making large equity investments, and has substantial holdings in many companies. READ MORE HERE


FinMin plans to release unspent money, boost demand amid economic slowdown

The finance ministry is working out a mechanism to release the money, stuck after it sanctioned the amount to other ministries and departments for various projects and schemes, to prop up the sagging economy. Besides, the finance ministry has asked the agriculture ministry to expedite money disbursement under the PM Kisan to increase disposable income to distressed farmers to boost demand. READ MORE

Stocks to watch: MMTC, STC, CG Power, TCS, NBCC, Coffee Day, oil-linked cos

Here's a look at the top stocks that may remain in focus today -
 
Coffee Day Enterprises: The Blackstone Group has signed a definitive agreement to buy Coffee Day's tech park for Rs 2,700 crore, said a report by The Economic Times.
 
Oil-linked stocks: Oil marketing companies (OMCs), aviation, paint, tyre and oil exploration companies are likely to hog the limelight today as crude oil prices remain elevated as the drone attack over the weekend has cut the kingdom’s oil production in half. READ MORE

NEWS ALERT | Catalyst Trusteeship acquires 5.26% stake in Shilpa Medicare: CNBC TV18

-- Acquisition via encumbrance on September 12

Crude shock: Rise in oil prices may deepen India's auto crisis, say experts

Spike in international crude oil prices, following a drone attack in Saudi Arabia’s largest oil production facility, has come as another blow to India’s beleaguered automotive sector. The attack and the resulting cut in Saudi crude oil production led to a 20 per cent spike in Brent crude oil — the benchmark used to price Indian’s oil imports. READ MORE

NEWS ALERT | Glenmark recieves Orphan drug designation for molecule GBR 1342: CNBC TV18

-- Being studied for multiple myeloma

Saudi drone strikes: Short sellers on the wrong foot, says expert

Crude oil traded at Rs 4,265 a barrel on the MCX. “The sharp increase in the crude oil price has triggered a margin call. Traders with the long-side position were okay, but those having the short-side position got trapped. Traders paid margins by selling their positions in equities and other asset classes,” said Kishore Narne, associate director, Motilal Oswal Financial Services. READ MORE

HPCL, BPCL, IOC and aviation stocks tumble as global crude oil price surges

The spike in global crude oil prices, led by the largest-ever disruption at Saudi Arabia’s crude oil production facilities, was bound to send ripples for India’s oil & gas players as well as those whose fortunes are linked to oil price movement such as aviation companies.
 
The Brent crude oil price spiked by almost 20 per cent intra-day (about $12) to $71.95 a barrel before slipping a bit to $67 levels on Monday evening (6 pm India time), compared to a close of $59.73 on Friday. READ MORE

Stock picks by Anand Rathi: Buy SPARC, Dish TV, Motilal Oswal Fin Services

NIFTY: BUY
 
TARGET: 11,150
 
STOP LOSS: 10,900.
 
Nifty closed in the negative territory in the last trading session. It, however, has formed a “Harami” Candlestick pattern which indicates that wherever this breakout happens it will lead to a further trend. So, on the lower side, 10,968 is immediate support whereas 11,052 is immediate resistance. The uptrend line support is pegged at 10,900 levels and till those levels are held the target comes to 11,150. READ MORE HERE

NEWS ALERT | Ramkumar Ramamoorthy appointed as chairman and MD of Cognizant India: CNBC TV18


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 fell more than 1% on Tuesday as the United States flagged the possible release of crude reserves

-- At 8:05 am, the Brent Crude Futures were trading at $68.20 per barrel

SGX Nifty

At 8:00 am, the Singaporean Exchange for Nifty Futures was trading at 10,992-mark, down 13 points.

Asian Market Check

Source: Reuters


US Market Check

Source: Reuters


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