Sensex surges over 100 points, Nifty50 holds above 8,000

Equity markets from the US to Asia are buoyant, but analysts are not very optimistic about the domestic market. An acute cash crunch in the economy, a Fitch report assigning negative outlook to the banking sector and poor F&O rollovers do not bode well for the market. Keep an eye on this space as we bring you continuous updates on what’s going on through the day in this LIVE BLOG from Dalal Street.L&T SURGES ON STRONG Q2 RESULTS

Shares of Larsen & Toubro jumped over 4 per cent in Wednesday’s trade after the engineering major reported 84 per cent jump in September quarter profit, partly on account of Rs 400-crore odd exceptional gains. Brokerages have largely maintained their ‘buy’ view, yet many of them have cut target price for the stock.

STOCK TO WATCH: A2Z INFRA
A2Z Infra Engineering informed bourses that its subsidiary company A2Z Green Waste Management has, on November 19, agreed to a framework with one of its lenders for a settlement of its various debt
obligation aggregating to Rs 416.18 crore.

STOCK TO WATCH: ULTRATECH CEMENT
The company on Tuesday said the Competition Appellate Tribunal (COMPAT) has granted a stay on an order passed by the fair trade regulator Competition Commission of India (CCI) against the company on deposit of 10 per cent of the penalty amount.

STOCK TO WATCH: EIH
The company that runs hotels and resorts under Oberoi and Trident brands said it plans to delist its global depository receipts from the London Stock Exchange in February 2017.

STOCK IN FOCUS: L&T
Larsen & Toubro on Tuesday reported a 84 per cent jump in its consolidated net profit to Rs 1,435 crore for the quarter ended September 30 as compared to Rs 778 crore in the same period last year.

PRE-OPEN SESSION
Sensex reclaims 26,000, Nifty50 above 8,050; L&T rallies 2%.

NIFTY TECH CHARTS
The Nifty50 formed Bullish Harami pattern on the technical charts on Tuesday. A bullish Harami pattern often indicates that the bearish trend may reverse and it may be good time to go for long positions. However, analysts still suggest caution. For the bulls to regain control, it is important for the Nifty50 to hold above the 8,000 level.

STOCK TO WATCH: RIL
CAG has pulled up the Income Tax department for giving benefit of Rs 1,767 crore to the port and terminal arm of Reliance Industries by allowing deductions meant for public facilities to the company's captive jetties

Sensex below 26K, down 150 points

Live Stock Market Updates - Sensex below 26K, down 150 points

ADANI PORTS, ONGC, NTPC, COAL INDIA are among the gainers while MARUTI, HUL, ITC and HDFC BANK are among the top losers early in the morning trade.The Sensex pared gains after rallying as much as 120 points in morning trade on Monday, led by losses in HDFC, Infosys, TCS, TCS, and Maruti Suzuki. The domestic market fluctuating between gains and losses as energy producers advanced while automakers and lenders declined.

The Nifty50 reclaiming 8,100 mark but immediately turned volatile ahead of expiry of November futures & options contracts due on Thursday.At 9.20 am, the S&P BSE Sensex is trading at 26148 down 2.30 points, while NSE Nifty is trading at 8,050 down 24 points.

The BSE Mid-cap Index is trading up 0.18% at 12094, whereas BSE Small-cap Index is trading up 0.24% at 11897.

ADANI PORTS, ONGC, NTPC, COAL INDIA are among the gainers while MARUTI, HUL, ITC and HDFC BANK are among the top losers early in the morning trade.

Some of the buying sectors were Telecom, Oil & Gas and Metals. On the hand, Banking, Auto, Finance, FMCG and Pharma were the sectors on the losing side.

The INDIA VIX is up 1.54% at 18.0800.

Out of 1863 stocks traded on the NSE, 789 declined, 645 advanced and 429 remained unchanged today.
A total of three stocks registered a fresh 52-week high in trade today, while 25 stocks touched a new 52-week low on the NSE.