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LIVE: Markets pare some losses; Nifty regains 9,850; ITC tumbles 12%

Watch this space for all live market updates

SI Reporter  |  New Delhi 

market flat, sensex, bse, nse, nifty, stock

A steep fall in index heavyweight ITC and a negative lead from pushed the domestic market lower on Tuesday, while investors are also keeping an eye on over a dozon firms, which are scheduled to report their numbers today. 

Meanwhile, dollar sagged on growing expectations that the Federal Reserve will take a more cautious approach to raising interest rates. Overnight, ended little changed in low-volume trading, as investors braced for a flood of second-quarter reports later this week.


11:47 AM Nifty Bank hits fresh record high of 24,129

nifty-bank
nifty-bank

11:08 AM Nifty FMCG slips over 6%, posts biggest ever intraday fall 

FMCG
FMCG

11:01 AM The market breadth, indicating the overall health of the market, turned positive from negative. On BSE, 1,080 shares rose and 1,014 shares fell. A total of 114 shares were unchanged. 

10:03 AM

MARKET CHECK
 
At 10:00 am, the Sensex was trading at 31,886, down 188 points, while the broader Nifty50 was ruling at 9,876, down 39 points.

9:58 AM Nifty IT is the only sectoral index that is trading over 1% higher. TCS, Infosys and Wipro gain the most, up over 1% each. 

9:49 AM ACC gained over 35 to Rs 1809 after the cement producer reported an about 33% rise in June-quarter consolidated profit, boosted by higher cement sales volume. CLICK HERE FOR FULL REPORT

9:43 AM In the broader market, the BSE Midcap and the BSE Smallcap indices traded flat for second session in a row. 

9:37 AM S&P BSE Sensex heatmap 

heatmap
heatmap

9:32 AM Bharti Airtel was the top gainer and rose nearly 3% to Rs 429 after the telecom major said it has infused more than Rs 30,000 crore in the last two years on boosting its network infrastructure. 

Bharti Airtel, airtel

9:23 AM

ITC hogs limelight
 
The stock was the top loser and tumbled over 14% to Rs 276 after the GST Council raised the cess on cigarettes to address an anomaly under the new tax regime that had resulted in lower tax incidence than before. 

Cigarette, Tobacco, BAT

9:20 AM MARKETS@OPEN

At 9:20 am, the S&P BSE Sensex was trading at 31,788, down 286 points, while the broader Nifty50 was ruling at 9,853, down 62 points.

9:15 AM

Stocks in focus
 
Cigarette stocks, HUL, RIL, ONGC, Ultratech Cement and Coal India  

9:12 AM STOCK WATCH: ITC tumbles 10% in pre-open trade

9:08 AM

Option Strategy on Hindalco
 
Put writing at 205 and 210 strike could provide the support. CLICK HERE FOR DETAILS

9:05 AM Buy Bharat Financial with a target price of Rs 885, says Prabhudas Lilladher. CLICK HERE FOR MORE STOCK PICKS

9:02 AM

Technical picks
 
Buy DHFL, ICICI Bank and HDFC, says Chandan Taparia of Motilal Oswal Securities. CLICK HERE FOR DETAILS

9:01 AM

ITC GST implications: Tax rates hiked; gains lost
 
The incremental cess will mean that earnings will be downgraded as we do not believe the company will take huge price hikes. While the company could still take some price hikes but we believe consensus expectations for FY18 earnings growth will be trimmed to around 10% from the current expectations of 16-18% growth. The stock is likely to react negatively, but considering the tremendous pricing power of the category and relatively cheap valuations we continue to remain buyers. Our target price is Rs 345: Naveen Kulkarni, Co-Head of Research, PhillipCapital

9:00 AM

Nifty outlook by Chandan Taparia
 
The index has to continue to hold 9,900 zone to witness an up move towards 9,950-10,000 zones while on the downside supports are seen at 9,850 then 9,820 mark. Index has been making higher top – higher bottom formation and supports are gradually shifting higher which has a bullish implication for ongoing market trend.

8:57 AM Markets on Monday: The FIIs were net buyers of stocks worth Rs 328.61 crore while the DIIs were net sellers of stocks worth Rs 447.4 crore

8:56 AM Crude oil futures edged higher, with US crude rising 0.2% to $46.10 per barrel and Brent crude adding 0.1% to $48.49. Crude prices had skidded about 1% on Monday as investors held out for strong indications that an OPEC-led effort to drain a glut was proving effective. 

Oil, NELP, OAL
.

8:56 AM

Chart check:
 
The markets are likely to open on flat note. All emerging markets are trading in red. The coming session is likely to witness a range of 9,850 on declines and 9,980 on advances: SMC Global

8:55 AM Results today: UltraTech Cement, Hindustan Unilever, Crisil, Sundaram Finance

8:55 AM The dollar edged down 0.1% on the day to 112.53 yen, well below its nearly four-month high of 114.495 touched last week.

Dollar
Dollar

8:54 AM

IDBI Capital on ACC results
 
ACC continues its winning streak from newly commissioned plants in east. Doubtless, ramping them up surprises us with higher volume. Yet, the realisations were below expectations. the patterns in inventory gains—ahead of GST on-going quarter—are unclear. Adding to that, energy and freight handling weighed on operating costs. Yet headline EBITDA was way ahead of our expectations. We continue to maintain HOLD rating on the stock.

8:53 AM At 8:52 am, the SGX Nifty was trading at 9,912, down 32 points or 0.33%.

8:48 AM

Asian markets
 
Asian shares stepped back from more than two-year highs. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.2%, a day after scaling its loftiest levels since April 2015. Japan's Nikkei stock index dipped 0.4% as markets resumed trading after a public holiday on Monday and caught up to a stronger yen. China's Shanghai Composite and Hong Kong's Hang Seng indices were also down 0.4% and 0.2%, respectively.

8:46 AM

Wall Street update
 
The Dow Jones Industrial Average fell 8.02 points, or 0.04% to 21,629.72, the S&P 500 lost 0.13 points, or 0.01% to 2,459.14 and the Nasdaq Composite added 1.97 points, or 0.03% to 6,314.43.

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LIVE: Markets pare some losses; Nifty regains 9,850; ITC tumbles 12%

Watch this space for all live market updates

Watch this space for all live market updates
A steep fall in index heavyweight ITC and a negative lead from pushed the domestic market lower on Tuesday, while investors are also keeping an eye on over a dozon firms, which are scheduled to report their numbers today. 

Meanwhile, dollar sagged on growing expectations that the Federal Reserve will take a more cautious approach to raising interest rates. Overnight, ended little changed in low-volume trading, as investors braced for a flood of second-quarter reports later this week.


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Business Standard
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LIVE: Markets pare some losses; Nifty regains 9,850; ITC tumbles 12%

Watch this space for all live market updates

A steep fall in index heavyweight ITC and a negative lead from pushed the domestic market lower on Tuesday, while investors are also keeping an eye on over a dozon firms, which are scheduled to report their numbers today. 

Meanwhile, dollar sagged on growing expectations that the Federal Reserve will take a more cautious approach to raising interest rates. Overnight, ended little changed in low-volume trading, as investors braced for a flood of second-quarter reports later this week.


image
Business Standard
177 22