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Market Live: Sensex opens higher, Nifty above 10,350; DHFL recovers

09 Oct 2018 : 01:27 Comments: 0 Views: 
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Market pre-opening: Benchmark indices opens on positive note on Tuesday in the pre-opening trade with Nifty trading near to 10,400 level.

At 09:02 hrs IST, the Sensex is up 252.64 points at 34727.02, while Nifty is up 37.30 points at 10385.30.

Market opens It’s a good start on the market on Monday, with the Nifty opening above 10,350, while the Sensex is up around 100 points.

Among sectors, pharma and energy names are gaining the most, while financials are trading in the green as well. There are cuts visible in the automobile segment, with the Nifty Auto losing half a percent. The midcap index is up over one-third of a percent.

The Sensex is up 89.48 points or 0.26% at 34563.86, while the Nifty is higher by 33.10 points or 0.32% at 10381.10. The market breadth is positive as 328 shares advanced, against a decline of 129 shares, while 2,870 shares were unchanged.

Coal India, NLC India rise Shares of Coal India and NLC India have risen on the back of news that the firms will set up a joint venture for power generation.

"Coal India and NLC India have signed a memorandum of understanding (MoU) for formation of a joint venture for solar power generation of 3,000 MW and thermal power projects of 2,000 MW capacity," CIL said in a filing to BSE.

JMC PROJECTS GAINS AFTER ORDER WIN

JMC Projects is also buzzing in trade this morning. The stock is up 5 percent on the back of an order win. The firm secured new orders of Rs 514 crore.

JSW Steel rises 2% Shares of JSW Steel are higher by 2 percent in morning trade as investors were upbeat about ratings upgrade by CARE Ratings to its bank facilities, non-convertible debentures and commercial papers.

“CARE has upgraded the long-term rating to "CARE AA; (Stable)" from "CARE AA-; (Stable)" while it has reaffirmed short term ratings to CARE Al+, for bank facilities, non-convertible debenture programme and commercial paper programme of the company,” the firm told exchanges in a filing.

Rupee Opens: The Indian rupee gained in the early trade on Tuesday. It has opened higher by 19 paise at 73.87 per dollar versus previous close 74.06.

Yesterday it closed lower by 29 paise versus Friday's close 73.77.

Crude oil update: Oil prices held little changed on Tuesday, as more evidence emerged that crude exports from Iran are declining in the run-up to the reimposition of US sanctions, while a hurricane moved across the Gulf of Mexico.

Brent crude was down 7 cents at USD 83.84 a barrel. On Monday, Brent fell to a low of USD 82.66, but mostly recovered as investors bet China's economic stimulus would boost crude demand. Brent hit a four-year high of USD 86.74 last week, reported Reuters.

Rupee ends at fresh all-time closing low on Monday: The rupee slumped by 30 paise to finish at a fresh lifetime low of 74.06 against the US dollar on October 8 amid strengthening of the greenback and steady capital outflows.

The rupee had opened lower by 14 paisa against October 5 closing of 73.76 in early trade as the US dollar strength against major global currencies weighed on the rupee sentiment.
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Asia trades near to 17-month low: Asian shares hit 17-month lows on Tuesday as investors fretted about everything from the Chinese economy, to trade wars, higher US bond yields and political dysfunction in Europe.

MSCI's broadest index of Asia-Pacific shares outside Japan eased another 0.15 percent after ending Monday at its lowest point since May last year.

Japan's Nikkei fell 1.1 percent as it resumed from a one-day holiday, hurt in part by a rise in the safe-harbour yen.

Wall Street ends lower on Monday: The tech-heavy Nasdaq fell on Monday for the third straight day as a sell-off in Chinese markets sparked concerns about slowing global economic growth, though the S&P 500 pared losses to end nearly flat.

The Dow Jones Industrial Average rose 39.73 points, or 0.15 percent, to 26,486.78, the S&P 500 lost 1.14 points, or 0.04 percent, to 2,884.43 and the Nasdaq Composite dropped 52.50 points, or 0.67 percent, to 7,735.95, reported Reuters.

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