Traders’ Diary: Nifty trading range at 11,600-12,100 – Economic Times

03:18 PM

Gold futures up on global cues

Gold prices on Thursday rose Rs 189 to Rs 38,277 per 10 gram in futures trade as speculators widened their bets on spot demand, tracking a firm trend overseas. On the Multi Commodity Exchange, gold contracts for December delivery traded higher by Rs 189, or 0.5 per cent, at Rs 38,277 per 10 gram in a business turnover of 16,631 lots.

02:57 PM

Cadila Healthcare gets EIR from USFDA for Baddi facility

Drug firm Cadila Healthcare on Thursday said its Baddi facility in Himachal Pradesh has received establishment inspection report (EIR) from the US health regulator. “The company’s formulations manufacturing facility located at Baddi, India, has received an EIR. The United States Food and Drug Administration (USFDA) had conducted an inspection at the facility from July 15 to 19, 2019,” Cadila Healthcare said in a filing to BSE.

China stocks fall as weak factory data invokes concerns over policy support

China stocks ended lower on Thursday, as weak manufacturing data raised concerns over the pace of Beijing’s policy support to bolster the economy. The blue-chip CSI300 index fell 0.1 per cent to 3,886.75, while the Shanghai Composite Index lost 0.3 per cent to 2,929.06.

12:46 PM

Anand Rathi has a Buy on Indoco Remedies

We believe Indoco’s FY20 to be a year of stablisation after a few hiccups regarding itsplants catering to the US. Also, its domestic business has resumed normal growth and EU supply is expected to improve. Post-normalisation of its businesses, we expect a gradual step-up in earnings. We retain our Buy recommendation, at a lower target of Rs 191. (Source: Anand Rathi)

12:28 PM

Nifty Financial Services index up; Indiabulls Ventures climbs 5%

The Nifty Financial Services index was up with its components trading higher in Thursday’s afternoon session. Shares of Indiabulls Ventures (up 5 per cent) , State Bank of India (up 4.40 per cent) , Bajaj Finserv (up 1.73 per cent) and Power Finance Corporation (up 1.41 per cent) were trading in the green.

As market hits record high, Bajaj grows wealth fastest; Ambanis, Adanis, Tatas follow

As benchmark equity indices hit fresh all-time highs, stocks of Bajaj group have emerged top wealth creators, with a 33.4 per cent jump in the combined market value so far this year. They beat Ambani, Adani and Tata groups to claim the crown.

10:47 AM

Vodafone Idea plummets over 9% to hit 52-week low

Shares of Vodafone Idea on Thursday fell over 9 per cent in early trade after Care downgraded its rating citing the recent Supreme Court ruling on adjusted gross revenue (AGR) issue. Shares of the telecom operator slumped 8.66 per cent to Rs 3.48 apiece – its 52-week low – on the BSE. Similarly, the stock declined 9.2 per cent to Rs 3.45 on the NSE.

10:37 AM

36 stocks hit 52-week highs on NSE

Among the stocks that touched their 52-week highs were Reliance Industries, Adani Enterprises,Akzo Nobel India, Asian Paints, Bajaj Auto, Bata India, Career Point, Avenue Supermarts, Gujarat Gas, Indraprastha Gas, Jump Networks, Muthoot Finance, Nestle India, NIIT Technologies, and TCI Express.

08:56 AM

Tech view: Nifty forms Hanging Man candle

Nifty50 could not capitalise on a gap-up start on Wednesday as it closed near the opening level, forming a ‘Hanging Man’ candle on the daily chart. The pattern suggested that the bulls are exhausted and some consolidation may set in. Nifty’s sustenance above 11,784 level is critical for the index to maintain a positive bias.

08:56 AM

US stocks settled higher

US stocks rallied on Wednesday after the Federal Reserve cut interest rates for a third time this year.The Dow Jones Industrial Average jumped 115.27 points, or 0.43 per cent, to 27,186.69. The S&P 500 increased 9.88 points, or 0.33 per cent, to 3,046.77. The Nasdaq Composite Index gained 27.12 points, or 0.33 per cent, to 8,303.98.

08:54 AM

FIIs buy Rs 7,192 crore worth stocks

Net-net, foreign portfolio investors (FPIs) were buyers of domestic stocks to the tune of Rs 7,192.42 crore on Wednesday, data available with NSE suggested. DIIs also were net sellers to the tune of Rs 185 crore, data suggests.