Technical View | The markets have opened on a positive note; we should be able to achieve the levels of 11,800 during the course of the October series. Strong support for the Nifty is at the 11,300 levels and as long as we can keep above this level, the trend of the market is bullish and any correction can be used to accumulate for higher targets, says Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments.

Rupee Opens | The Indian rupee opened higher against the US dollar.

Asian stocks at two-week high as Trump returns to White House

Asian stock markets advanced to a two-week high on Tuesday after U.S. President Donald Trump was discharged from hospital following treatment for COVID-19 and as prospects for a fresh U.S. stimulus package appeared to brighten. Bonds and the dollar nursed losses amid the improving risk appetite, while oil extended gains. Trump returned to the White House on Monday after a three-night hospital stay and said he felt “real good”, though one of his doctors cautioned that he may not be out of the woods yet. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.71 percent to a two week-high, led by Hong Kong climbing 0.88 percent. Japan’s Nikkei also added 0.41 percent.

US elections will have little impact on the markets, says Port Shelter’s Richard Harris

Richard Harris, CEO Port Shelter Investment Management discussed at length about US elections and impact on global markets. Harris said the outcome of the US elections will have little impact on the markets. “The whole uncertainty that we have seen with Trump and Biden so far, that is well discounted in the market and if you look at most scenarios of Trump’s health and how the campaign is going to go, it will probably have relatively little impact on the markets,” he added. On India, Harris said the market looked ‘reasonably rich’ and that his fund was cautious. Watch video here

Market Watch: Dipan Mehta, Director at Elixir Equities

On IndusInd Bank

If you write-off this particular year 2020-2021 for IndusInd Bank and then move on to the next year 2021-2022 that maybe the year when the bank recovers the lost ground and perhaps you will break fresh ground in terms of whatever it can achieve in terms of its market share and growth rates on topline and bottomline.

On HDFC Bank

Generally very positive on HDFC Bank and this underperformance which we are seeing in the banking stocks as well as in the HDFC Bank over the past year or so, may be a good opportunity. My sense is that once clarity comes as far as credit costs are concerned, banking sector may come back into leadership position led by HDFC Bank. Very positive on the stock per se, give it a couple of quarters or so and I think it will get back into outperformance zone.

Opening Bell: Sensex opens over 300 points higher, Nifty above 11,600; banks gain

Indian shares opened higher on Tuesday, following Asian peers, which were at a 2-week high after US President Donald Trump was discharged from hospital following treatment for COVID-19. At 9:18 am, the Sensex rose 339 points to 39,312 while the Nifty was up 110 points at 11,613. Gains in the domestic indices were mainly led by banking and financial stocks. Heavyweights HDFC Bank, RIL, HDFC, TCS, and Axis Bank contributed the most to the benchmarks. Broader markets were also trading higher with the Nifty Midcap and Nifty Smallcap indices up 0.7 percent each. The financial services index was the top performing sector, up 2 percent followed by Nifty Bank which rose 1.5 percent. Nifty Auto also added 0.9 percent and Nifty Metal advanced 0.5 percent at opening.

Dr Reddy’s asked to resubmit application for both phase 2,3 trials of Russian COVID-19 vaccine

An expert panel at the Central Drugs Standard Control Organisation (CDSCO) has asked Dr Reddy’s Laboratories to submit a revised protocol for conducting both phase 2 and phase 3 human clinical trials for the Russian vaccine against COVID-19, Sputnik V, in India, sources said Monday. The Hyderabad-based pharmaceutical company had applied to the Drugs Controller General of India (DCGI) late last week, seeking permission to conduct phase-3 human clinical trials of the Russian vaccine. The Subject Expert Committee (SEC) on COVID-19 at the CDSCO, which held its meeting on Monday, deliberated on the application and asked the firm to submit a revised protocol stating it will have to conduct combined phase 2 and 3 clinical trials, sources told PTI. The firm has been asked to provide some other information as well. More here

Exclusive | Govt appoints 3 new members to MPC; Ashima Goyal, Shashanka Bhide and Jayanth Varma to come on board

The Narendra Modi government has appointed Ashima Goyal, Shashanka Bhide and Jayanth Varma to Reserve Bank of India’s (RBI’s) Monetary Policy Committee (MPC). The trio have been appointed for a four-year term, CNBC-TV18 reported in an exclusive news break. Bhide, currently is a Senior Advisor to the National Council for Applied Economic Research and is a serving member of the Board of Governors of the Institute for Social and Economic Change in Bangalore. Goyal, is a professor at the Indira Gandhi Institute of Development Research in Mumbai. Her fields of research and interest include, open economy macroeconomics, international finance, financial markets and regulation, institutions and development. Similarly, Jayanth Varma is a professor at the Indian Institute of Management, Ahmedabad. He did his post-graduation in management from the Indian Institute of Management, Ahmedabad (IIMA), where he was awarded a Gold Medal for scholastic performance. Subsequently, he obtained his doctorate in management from the Indian Institute of Management, Ahmedabad. He is also a qualified cost accountant.

Here are a few global cues ahead of today’s trade

First up, here is quick catchup of what happened in the markets on Monday

Indian shares ended higher on Monday, helped by gains in banking and IT stocks. Meanwhile, the sentiment was also lifted by rise in global peers on signs that President Donald Trump’s health was improving. The Sensex ended 277 points higher at 38,983 while the Nifty rose 86 points to settle at 11,503. Heavyweights TCS, Infosys, HDFC Bank, ICICI Bank and Sun Pharma contributed the most to the benchmarks. Among sectors, Nifty IT surged the most, up 3.5 percent followed by Nifty Metal, which rose 2.5 percent. Nifty Pharma also added 1.7 percent and Nifty Bank jumped 0.6 percent for the day.

Welcome to CNBC-TV18’s Market Live Blog

Good morning, readers! I am Pranati Deva the market’s desk of CNBC-TV18. Welcome to our market blog, where we provide rolling live news coverage of the latest events in the stock market, business and economy. We will also get you instant reactions and guests from our stellar lineup of TV guests and in-house editors, researchers, and reporters. If you are an investor, here is wishing you a great trading day. Good luck!