Technical view | The index opened on a soft note this morning. It’s perfectly acceptable that you need to cool down after a big 1000 point streak! To resume the uptrend, we would have to cross the intermediate high of 12,775, which could take the Nifty to 13,000. There is a good range of support between 12,100-12,300 and as long as we don’t break that on a closing base, we are in safe territory, he said. Manish Hathiramani, Technical Analyst and Owner Index Trader, Deen Dayal Investments.
Opening bell: Sensex down nearly 60 points, Nifty opens below 12,700; The HDFC twins are the best losers
Indian equity benchmarks opened lower on Friday following a selloff in Asian pairs as the rise in pandemic cases globally dampened investor sentiment.
At 9:15 a.m., the Sensex opened 0.13 percent, or 58.27 points, to 43,298.92 points, while the Nifty50 index opened at 12,659.70, a decrease of 31.10 points or 0. ,25 percent.
Strong sales of bank shares dragged Bank Nifty down more than 400 points.
The broader markets were mixed as Nifty Smallcap100 outperformed the benchmark indices with gains of 0.2 percent.
Among industry indices, Nifty Private Bank, Nifty Financial Services and Nifty Metal fell the most, while Nifty Pharma, Nifty IT and Nifty Realty were all green.
CLSA reiterates its ‘superior performance’ at Aurobindo Pharma, at a price target of Rs 960
The brokerage believes that ongoing research and development projects may limit short-term margin expansion.
“Complex product portfolio development should increase R&D spending over the medium term, but boost long-term profitability, while stronger execution on R&D-backed projects could drive revaluation,” explained the runner.
Therefore, it reiterated a superior performance rating, maintaining EPS estimates for FY 21-23 and a price target of Rs 960.
The United States accumulates a record budget deficit in October of $ 284.1 billion
The United States is beginning the 2021 budget year as it ended the previous year, with growing deficits. The Treasury Department reported Thursday that the federal government posted a record deficit in October of $ 284.1 billion, double the red ink in the same month a year earlier, as revenue declined while spending to meet the impact of coronavirus.
October’s deficit was double the $ 134.5 billion deficit recorded in October 2019. It broke the previous October record of a $ 176 billion deficit set in 2009, when the government was spending heavily to get the country out. from a deep recession caused by 2008. financial crisis. The deficit for the 2020 budget year, which ended on September 30, totaled a record $ 3.1 trillion, breaking the old mark of a $ 1.4 trillion annual deficit set in 2009. read more
Top Large Cap Stock Picks for Diwali 2020 by HDFC Securities
In the new Samvat, investors should consider asset class diversification, sector diversification, and the distribution of investments over time. All in all, after a turbulent past year, we can look forward to a relatively quiet but selectively rewarding year, HDFC Securities said. Here are the best large-cap Diwali picks from the brokerage.
India’s retail inflation rises to 7.61% in October due to higher food prices
India’s retail inflation measured by the Consumer Price Index (CPI) registered 7.61 percent in October due to a further increase in food prices, data released by the National Statistics Office showed ( NSO) on Thursday.
It was 4.62 percent in October 2019. The increase in headline inflation was mainly due to high food prices.
According to the data, the Consumer Food Price Index (CFPI) rose to 11.07 percent in October, up from 10.68 percent in the previous month of September.
The Consumer Food Price Index (CFPI), according to the data, rose to 11.07 percent in October from 10.68 percent in the previous month of September. It was 4.62 percent in October 2019.
Vegetable prices increased 22.51 percent in October on a year-over-year basis. read more
The Indian stock market is expected to open lower. Click here to learn 10 vital things before the opening bell.
Market action overnight
– US sees well> 100,000 cases a day for 7 days in a row now
– Chicago issues orders to stay at home
– The Mayor of New York threatens to close schools once again
– The White House withdraws from tax negotiations.
– S & P-500 -1%, Nasdaq -0.65%
– Prashant Nair (@_prashantnair) November 13, 2020
Click here to read the best stocks to stay tuned for the day.
Closing Bell: Sensex, Lowest Final Nifty After 8 Profit Sessions; Nifty Bank down 2%
Indian indices closed lower on Thursday, breaking 8 trading sessions after a series of announcements by Finance Minister Nirmala Sitharaman to boost the economy failed to impress the street. Banks and the financial sector led the losses in the benchmark indices.
The Sensex finished 236 points lower at 43,357 while the Nifty lost 58 points to settle at 12,691. However, the broader markets performed better, with the benchmark indices with the Nifty Midcap and Nifty Smallcap indices up 0.5 percent and 1.3 percent, respectively.
Announcing a new set of stimulus measures called Stimulus 2.0, Finance Minister Nirmala Sitharaman said on Thursday that India is seeing a “strong recovery” taking hold in the economy, as seen by increased tax collection on goods and services and other metrics. The FM announced 12 measures in Stimulus 2.0 from the credit guarantee to the EPFO subsidy and tax relief for home buyers.
In the Nifty50 index, HUL, Grasim, Shree Cement, Hindalco and ITC were the main winners, while SBI, Kotak Bank, Coal India, IndusInd Bank and NTPC led the losses.
The Nifty Bank and Nifty Fin Services sectors fell 1-2 percent on the day, while the Nifty Metal Index also lost 0.5 percent. However, the Nifty FMCG was up 1.5 percent and the TI, Auto and Pharma indices were also positive for the day.
Welcome to our Market Live blog!
Hi, I’m Mousumi Paul from the CNBC-TV18 desk team and I’ll give you all the updates on today’s trading session in the stock market along with news from the economy and business world.
For starters, the Indian market is likely to open lower on Friday following losses in global markets, as COVID-19 cases continue to rise in the US At 7:00 am, the SGX Nifty It was trading 112.50 points or 0.88 percent lower at 12,634.50, indicating a negative start for Sensex and Nifty50.
