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Global markets at a glance
US stocks surged more than 2 percent on Tuesday after upbeat earnings reports from major companies including UnitedHealth and Goldman Sachs and solid economic data, as equities rebounded from a recent sharp sell-off. Wall Street's three major indexes tallied their biggest oneday percentage gains since March. The small-cap Russell 2000 recorded its biggest single-session gain in nearly two years.Technology, which sold off heavily in the recent pullback, led the gains as all 11 major sectors were positive. Investors are expecting another strong quarter of corporate profits, hoping the reports can calm nerves following concerns over global trade tensions and rising bond yields. Third-quarter earnings for S&P 500 companies are expected to have climbed 21.8 percent, according to I/ B/E/S data from Refinitiv.The Dow Jones Industrial Average rose 547.87 points, or 2.17 percent, to 25,798.42, the S&P 500 gained 59.13 points, or 2.15 percent, to 2,809.92 and the Nasdaq Composite added 214.75 points, or 2.89 percent, to 7,645.49.The technology sector gained 3.0 percent while healthcare rose 2.9 percent. Those two groups have led the S&P 500's advance this year. Asian equities got some much needed relief on Wednesday after upbeat US earnings reports drove a rebound on Wall Street and helped restore a little confidence in emerging market stocks and currencies.Japan's Nikkei leaped out of the gates with an early rise of 1.3 percent, but still has a long way to go to recoup the past week's losses.MSCI's broadest index of Asia-Pacific shares outside Japan added 0.5 percent and South Korea 1.5 percent.
Previous day Roundup
The market is likely to see a strong start, following strong handover from Wall Street as well as Asian markets. In fact, SGX Nifty trends indicate a gap-up opening for D-Street. Benchmark indices closed higher for the third consecutive session on Tuesday, backed by a healthy start to September quarter earnings season, rising rupee and falling oil prices. The 30-share BSE Sensex gained nearly 300 points while the Nifty50 closed 72.30 points higher at 10,584.80 and made a small bullish candle on the daily charts.The Nifty50 appears to have made most of the gains in the first one hour of trade before signing off the session with a small bullish candle suggesting a narrow range for the day
1. 1.TATAELXSI FUTURE
Stock outperformed well with average volumes and closed near to days high and The stockhastic has also shown the reversal from the oversold zone on the daily chart. We recommend buying from the current level for the target of 1060 with the stop loss of 1035.
2. TORNTPOWER FUTURE
Stock outperformed well with good volumes and closed near to days high. The momentum oscillator CCI has also given closing above 100 on the daily chart and it also gave closing above the 200 EMA on the daily chart. We recommend buying from the current level for the target of 250 with the stop loss of 240.
STOCK RECOMMENDATION CASH
Stock opened gap up and maintained itself positively. The stock was maintaining itself above the 200 EMA on the hourly chart and it closed above it. We recommend buying from the current level for the target of 138 with the stop loss of 128..
STOCKS IN NEWS
Jammu & Kashmir Bank Q2: Net profit jumps 20 percent to Rs 93.7 crore versus Rs 71.64 crore YoY; gross NPA falls to 9 percent against 9.83 percent and net NPA falls to 3.9 percent versus 4.85 percent QoQ. Shakti Pumps Q2: Consolidated profit jumps to Rs 9.27 crore versus Rs 3.02 crore; revenue surges to Rs 138.7 crore versus Rs 67.7 crore YoY.
Large precious metals speculators continued to add to their bearish net positions in the Gold futures markets again last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday. The non-commercial futures contracts of Gold futures, traded by large speculators and hedge funds, totaled a net position of -38,175 contracts in the data reported through Tuesday October 9th. This was a weekly fall of -16,353 contracts
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Submitted by Epic Research, Epic Research Pvt.Ltd indore on Wednesday, 17 October 2018 at 1:38 PM
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