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Sensex up 600 pts to reclaim 35,000 amid sharp rupee gain, fall in oil prices

Benchmark indices extended rally with the Sensex climbing over 500 points on the back of rupee appreciation and sharp recovery in oil prices after positive US-China talks over trade.

The 30-share BSE Sensex rallied 529.53 points or 1.54 percent to 34,961.50 and the 50-share NSE Nifty gained 166.10 points or 1.60 percent at 10,546.60.

About 1,523 shares advanced against 461 declining shares on the BSE.

Rupee Update:

The rupee appreciated 57 paise to 72.88 against the dollar at the interbank foreign exchange after crude prices fell to seven-month lows in the global market amid fresh foreign fund inflows.

The rise was also supported by dollar-selling by exporters and banks and the US unit's weakness against some currencies overseas, traders said.

They said a higher opening in the domestic equity market too supported the rupee.

The rupee had gained 50 paise to close at 73.45 against the US dollar Thursday, posting its biggest single-session spurt in three weeks on increased selling of the greenback by exporters, softening crude oil prices and upbeat economic numbers.

Foreign institutional investors (FIIs), which had been selling on Indian bourses, made fresh purchases worth Rs 348.75 crore Thursday, as per provisional data. 

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Source: https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-sensex-up-600-pts-to-reclaim-35000-amid-sharp-rupee-gain-fall-in-oil-prices-3119841.html

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Closing Bell: Sensex ends flat, Nifty below 10,400; midcaps see strong trade

Market at Close First session of November 2018 began on a subdued note, with the Nifty ending below 10,400-mark. 

Banks were the gainers during the session, while infrastructure and metals rose during trade as well. Pharmaceuticals, IT, and consumption names were the big losers in trade today. 

However, there was some outperformance in the broader markets, with the Nifty Midcap index rising a percent. 

At the close of market hours, the Sensex closed down 10.08 points or 0.03% at 34431.97, while the Nifty ended lower by 6.10 points or 0.06% at 10380.50. The market breadth is positive as 1,590 shares advanced, against a decline of 990 shares, while 124 shares were unchanged.

Yes Bank, Axis Bank, and Hindalco were the top gainers, while Infosys, NTPC, HCL Tech and Dr Reddy’s Labs lost the most. 

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NCDEX SUPPORT & RESISTANCE

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Indices erase morning gains as Nifty trades below 10,400; bank stocks outshine

It’s a strong start, in line with pre-opening trends, on the market on Thursday morning. The Nifty has surpassed 10,400, while the Sensex is higher by over 150 points. 

At 09:15 hrs IST, the Sensex is up 160.97 points or 0.47% at 34603.02, while the Nifty is higher by 38.60 points or 0.37% at 10425.20.

Among sectors, automobiles, infrastructure, energy and metal names are trading in the green, while IT names along with pharmaceuticals are trading lower. The Nifty Midcap index is higher by 0.4 percent.  

Shares of Larsen & Toubro are higher by 5 percent after the company reported strong numbers for September quarter. 

Market Update: The benchmark indices erased all morning gains as Nifty is trading below 10,400 mark.

At 11:13 hrs IST, the Sensex is down 62.64 points or 0.18% at 34379.41, while Nifty down 26.30 points or 0.25% at 10360.30. About 1417 shares have advanced, 682 shares declined, and 1557 shares are unchanged. 

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Source: https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-indices-erase-morning-gains-as-nifty-trades-below-10400-bank-stocks-outshine-3114581.html

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