Traders' Diary: Further upside in near term can't be ruled out

SBI surges 3%, Axis Bank 2%; Sun Pharma slips 2%.

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">Sharing an interesting forward. Height of the Fed Chair corelated to US interest rates ??. Get set for rate increases in the US <a href="https://t.co/uJuv9z2P44">pic.twitter.com/uJuv9z2P44</a></p>&mdash; Sunil Singhania (@SunilBSinghania) <a href="https://twitter.com/SunilBSinghania/status/926300426412027905?ref_src=twsrc%5Etfw">November 3, 2017</a></blockquote>

European shares crept higher in early deals on Friday as earnings weighed on shares in French bank Societe Generale and Dutch telecoms firms Altice, though gains for tech stocks and carmakers limited losses. The pan-European STOXX 600 index was up 0.1 per cent, set for its second week of gains in a row, while euro zone blue chips were down 0.1 per cent. Britain's FTSE 100 built on the previous session's gains following the Bank of England's first rate hike in more than a decade, up 0.3 per cent.

Oil markets rose on Friday, supported by OPEC-led supply cuts which are tightening the market as well as by strong demand, but analysts cautioned that the cuts would need to be extended to counter rising US output.

Alumunium major Hindalco on Friday posted 10.66 per cent year-on-year drop in September quarter profit at Rs 392.85 crore compared with Rs 439.74 crore profit posted for the corresponding quarter last year. Total income increased 6 per cent year-on-year to Rs 10,495.44 crore from Rs 9,898.30 crore reported for the year-ago quarter.

The IPO was oversubscribed by 81.54 times at the close of the bidding, with bids for 3,493 million shares worth Rs 88,022.67 crore.

On Friday, the virtual currency hovered around $7230 per unit, whereas, in the domestic market, it traded at over Rs 4,80,000.

The initial public offering (IPO) of footwear firm Khadim India was subscribed 25 per cent on the second day of offer till 1 pm (IST).

Do you own a stock in your portfolio that has multiplied over 10 times in two years? No? It could have been any of these three &ndash; Goldstone Infratech, Dwarikesh Sugar and Goa Carbon; stocks that have soared over 1,000 per cent between October 2015 and this October.

According to a Morgan Stanley report, the October gains of 6% have been led by value, beta, momentum, and financial leverage not the typical investing styles for the country.

Over 70 stocks, including Adani Ports, Balkrishna Industries, Bharat Forge and Bharti Airtel hit fresh 52-week highs on NSE in Friday's trade.

Bitcoin climbed past $7,000 for the first time, breaching another milestone less than one month after it tore through the $5,000 mark.

HDFC Standard Life plans to raise upto Rs 8,695 crore from the primary market to offer liquidity to promoters. The IPO is aggressively priced compared with the listed peers including ICICI Prudential Life Insurance and SBI Life Insurance.</p>

18.47 cr shares of Bharti Airtel trade in a block; stock up over 3%

MARKET OPENS AT RECORD HIGH; UJJIVAN, HEG UP 5%, ANDHRA BANK DOWN 3%

A hunt is on to track down men suspected to have leaked the discussions of a closed-door meeting this week between Reserve Bank of India (RBI) deputy governor Viral Acharya and a dozen senior fund managers and bankers.

Sensex rises over 100 points, Nifty above 10,450; rupee trades at 64.57 against US dollar

President Donald Trump on Thursday tapped Fed Governor Jerome Powell to become head of the US central bank, breaking with precedent by denying Janet Yellen a second term but signaling a continuation of her cautious monetary policies.