Friday, 31 July 2015

Sensex zooms over 300pts, Nifty strong; ICICI, SBI up 4-6%- 31 July 2015

Boosted by good set of Q1 numbers, ICICI Bank was up 6 percent while PSU banks are also rejoicing on prospects of fresh funds. SBI, Hero, Lupin and M&M are top gainers while BHEL, HDFC twins, Infosys and HUL are among major losers in the Sensex.

                               
The market continues its upswing in afternoon trade. The Sensex is up 329.69 points or 1.2 percent at 28035.04 and the Nifty is up 88.30 points or 1 percent at 8510.10. About 1646 shares have advanced, 978 shares declined, and 144 shares are unchanged. Boosted by good set of Q1 numbers, ICICI Bank was up 6 percent while PSU banks are also rejoicing on prospects of fresh funds. SBI, Hero, Lupin and M&M are top gainers while BHEL, HDFC twins, Infosys and HUL are among major losers in the Sensex. Oil prices extended their decline in Asia on Friday after the OPEC cartel indicated that current lofty output levels will remain, while a stronger dollar is also causing downward pressure. Prices are also under pressure by the strength of the US currency, which makes dollar-priced oil more expensive to holders of weaker units, dampening demand. The dollar has picked up steam on expectations the Federal Reserve will raise US interest rates later this year.



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Thursday, 30 July 2015

Nifty hits 8500, Sensex soars 300; banks & pharma on fire-- 31 July 2015

Dr Reddy's Labs, M&M, Lupin, Hero and Coal India are top gainers in the Sensex. Among the losers are Reliance, HUL, BHEL and Infosys.


                               
The market is surging ahead with the Nifty nearing 8500. The 50-share index is up 57.95 points or 0.7 percent at 8479.75. The Sensex is up 235.81 points or 0.8 percent at 27941.16. About 1470 shares have advanced, 793 shares declined, and 125 shares are unchanged. Dr Reddy's Labs, M&M, Lupin, Hero and Coal India are top gainers in the Sensex. Among the losers are Reliance, HUL, BHEL and Infosys. China stocks fell and looked set to suffer their biggest monthly loss in nearly six years even as Beijing rolled out a series of support measures and promised to step up efforts to bolster the flagging economy. Stocks have plunged more than 30 percent since mid-June, threatening further risks to an economy that is expected to post its slowest growth in a quarter of a century this year.



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Nifty eyes 8500, Sensex up 200pts; Kotak Mah down, ICICI up -- 31 July 2015

Cipla, GAIL, Dr Reddy's Labs, ICICI Bank and Coal India rallied 1.2-1.6 percent. However, Kotak Mahindra Bank fell 3 percent post Q1 earnings. ITC, Maruti Suzuki, L&T, PNB, Bank of Baroda and Power Grid Corp declined.

                                       
The positive momentum continued in early trade Friday with the Sensex rising 211.86 points to 27917.21 and the Nifty climbing 50.10 points to 8471.90. About 1065 shares have advanced, 332 shares declined, and 85 shares are unchanged on the BSE. Cipla, GAIL, Dr Reddy's Labs, ICICI Bank and Coal India rallied 1.2-1.6 percent. However, Kotak Mahindra Bank fell 3 percent post Q1 earnings. ITC, Maruti Suzuki, L&T, PNB, Bank of Baroda and Power Grid Corp declined. In important earnings, Larsen and Toubro (L&T) will report its Q1 numbers today. The earnings  could disappoint on a high base. Its consolidated profit is expected to decline 14 percent with a reputed revenue growth. Banking heavyweight, ICICI Bank too will report numbers today. According to a CNBC-TV18 poll, the Net Interest Income (NII) is expected to rise 15 percent while profits may see 10 percent growth. The provisions are expected to remain elevated.  The Indian rupee slipped in the early trade. It has opened lower by 6 paise at 64.10 per dollar against previous close of 64.04.

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Rupee opens lower at 64.10 per dollar -- 31 July 2015

For the day rupee is seen between 63.70-64.40/dollar, says Pramit Brahmbhatt of Veracity.

                                               
The Indian rupee slipped in the early trade on Friday. It has opened lower by 6 paise at 64.10 per dollar against previous close of 64.04. Pramit Brahmbhatt of Veracity said, "Local equity market is likely to trade sideways today and will take cues from global markets for further directions. Strength in dollar will keep rupee under pressure." "Today being the last trading day of the week, investors are expected to trade cautiously and square off their position ahead of the weekend. Range for the day is seen between 63.70-64.40/dollar," he added.

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Sensex maintains uptrend; Midcap up 1%, Dr Reddy's gains 4%-- 30 july 2015

Dr Reddy's Labs jumped more than 4 percent after better than expected earnings in June quarter. Profit grew by 14 percent year-on-year to Rs 626 crore and revenue rose by 7 percent, supported by North America and India businesses.

                                 
The market continued to see buying interest in afternoon trade, supported by FMCG, banking & financials, auto and select pharma stocks. The Sensex gained 195.06 points or 0.71 percent at 27758.49 and the Nifty rose 56.55 points or 0.68 percent to 8431.60. The broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices rising 1 percent and 0.9 percent, respectively. About 1710 shares have advanced, 1013 shares declined, and 139 shares are unchanged on the BSE. Dr Reddy's Labs jumped more than 4 percent after better than expected earnings in June quarter. Profit grew by 14 percent year-on-year to Rs 626 crore and revenue rose by 7 percent, supported by North America and India businesses.


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Wednesday, 29 July 2015

Sensex zooms over 200 pts; HUL & HDFC up, IT stocks fall -- 30 july 2015

Cipla, HUL, HDFC, Hero Motocorp and NTPC are top gainers while Sun Pharma, TCS and Coal India are among losers in the Sensex.

                             
The market is making strong gains with support from infra, banks, oil & gas and auto stocks. The Sensex is up 237.21 points or 0.9 percent at 27800.64, and the Nifty is up 66.85 points or 0.8 percent at 8441.90. About 1653 shares have advanced, 698 shares declined, and 115 shares are unchanged.  Cipla, HUL, HDFC, Hero Motocorp and NTPC are top gainers while Sun Pharma, TCS and Coal India are among losers in the Sensex. Oil prices extended a rebound in Asia following data showing a decline in US inventories, analysts said. Dealers are also keeping tabs on the Federal Reserve's plans for raising interest rates after it held fire yesterday at its latest policy meeting but indicated the US economy is improving. The dollar edged up after the meeting as expectations grow that the central bank will announce a liftoff as early as September. The market will closely monitor the Fed's move as the rate hike will impact

commodity prices heavily,

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Sensex up 150 pts, Nifty hits 8400 post Fed meet; ITC slips -- 30 July 2015

Cipla, HDFC, Axis Bank, BHEL, ONGC and Cairn India rallied 1-1.5 percent. However, ITC lost 0.6 percent ahead of earnings. GAIL, ICICI Bank, Tata Power and Ambuja Cements also declined.

                               
The market has opened higher, tracking positive cues from Wall Street after the Federal Reserve kept rates unchanged. All eyes are on expiry of July derivative contracts today.The Sensex gained 135.55 points at 27698.98 and the Nifty rose 40.75 points to 8415.80. About 713 shares have advanced, 119 shares declined, and 64 shares are unchanged on the BSE. Cipla, HDFC, Axis Bank, BHEL, ONGC and Cairn India rallied 1-1.5 percent. However, ITC lost 0.6 percent ahead of earnings. GAIL, ICICI Bank, Tata Power and Ambuja Cements also declined. In key earnings today according to a CNBC-TV18 poll, ITC profit may rise 6 percent  to around Rs 2,300 crore. Volumes are expected to decline 15-18 percent due to price hikes. And from the pharma space, muted numbers are expected from Dr Reddy's, the profits may rise 4 percent. From the banking sector, this will be first quarter of Kotak-ING consolidated numbers. Analysts expect a muted profit growth. While the margins may come off since ING Vysya has lower margins. The Indian rupee opened lower by 5 paise at 63.96 per dollar against 63.91 Wednesday. Mohan Shenoi of Kotak Mahindra Bank said, "As per July FOMC statement, Fed is poised to begin rate hikes in 2015 most likely in September. Dollar strength against major currencies is continuing." "With Reserve Bank Of India (RBI) presence on both sides of the market, USD-INR is expected to trade today in a range of 63.85-64.15/dollar," he added. In global markets, the US Federal Reserve kept rates unchanged, giving no hint of lift-off coming in the next meeting. Policymakers said the economy is expanding moderately, but made no mention of recent volatility around Greece or China. The US markets closed in the green with the Dow Jones industrial average closing about 120 points higher. The Nasdaq Composite briefly dipped into negative territory before trading half a percent higher. Asian markets gained today, taking heart from a positive finish on Wall Street and a modest recovery in commodity prices. The dollar remained steady in cautious trade ahead of US GDP data that could reinforce expectations that the Federal Reserve is on track to raise interest rates as early as September.
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Rupee opens lower at 63.96 per dollar -- 30 July 2015

With Reserve Bank Of India (RBI) presence on both sides of the market, USD-INR is expected to trade today in a range of 63.85-64.15/dollar, says Mohan Shenoi of Kotak Mahindra Bank.
          


The Indian rupee opened lower by 5 paise at 63.96 per dollar on Thursday against 63.91 Wednesday.

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Sensex gains over 100 pts; SBI, GAIL, NTPC major laggards -- 29 July 2015

Infosys, Maruti Suzuki, BHEL, Wipro and HDFC are top gainers while ITC, Dr Reddy's Labs, GAIL, SBI and NTPC are among laggards.


                 
The market is going steady. The Sensex is up 134.50 points or 0.5 percent at 27593.73 and the Nifty is up 38.20 points or 0.5 percent at 8375.20. About 1584 shares have advanced, 1041 shares declined, and 136 shares are unchanged. Infosys, Maruti Suzuki, BHEL, Wipro and HDFC are top gainers while ITC, Dr Reddy's Labs, GAIL, SBI and NTPC are among laggards. The last recession was led by US, but China is likely to usurp that not-so-coveted position, says Ruchir Sharma, head of emerging markets and global macro, Morgan Stanley Investment Management Sharma is of the view that China is neither in control of its equity market, nor its overall economy and that poses a significant global economic risk. Shanghai markets have in the recent past plunged 8.5 percent in a single day merely on the negative growth sentiment prevailing. The government is trying to shore up confidence and has infact entrusted a securities fund with USD 500 billion to keep buying shares with just one-point agenda in mind- to keep the market afloat. But the measure has hardly impressed analysts. owning to a widespread lack of confidence in the government.

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Tuesday, 28 July 2015

Sensex, Nifty steady; Jet Airways soars 11%, Infosys gains - 29 July 2015

ITC is down 3 percent while Dr Reddy's Labs, SBI, NTPC and Bharti Airtel are major losers while Infosys, HDFC, BHEL, Tata Motors and Wipro are among top gainers in the Sensex.

         
The market is still holding up gains with good support form infra, oil & gas and auto stocks. The Sensex is up 84.21 points or 0.3 percent at 27543.44 and the Nifty is up 24.30 points or 0.3 percent at 8361.30. About 1519 shares have advanced, 736 shares declined, and 111 shares are unchanged. ITC is down 3 percent while Dr Reddy's Labs, SBI, NTPC and Bharti Airtel are major losers while Infosys, HDFC, BHEL, Tata Motors and Wipro are among top gainers in the Sensex. Aviation stocks SpiceJet and Jet Airways are up 6-11 percent after Ajay Singh-promoted low-budget airline posted best ever quarter in April-June. Gold steadied at just below USD 1,100 an ounce, trading not far from a 5-5.5-year low, as investors awaited the outcome of the US Federal Reserve's meeting for more clues on the timing of this year's interest rate increase. Gold has been stuck in narrow ranges this week ahead of the conclusion of the Fed's policy meeting later in the day. Policymakers are expected to send more signals to the market that a US interest rate increase is certain this year as the economy recovers. That rate hike, the first in nearly a decade, could happen as early as September, analysts say, suggesting more downside risk for non-interest yielding gold.

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Sensex, Nifty marginally higher; Mid, Smallcap outperform -- 29 july 2015

The broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices rising more than 0.8 percent. About 1319 shares have advanced against 543 shares declined on the Bombay Stock Exchange.

         
The market continued to see marginal buying interest after four-day fall. The Sensex gained 93.40 points at 27552.63 and the Nifty rose 27.25 points to 8364.25. The broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices rising more than 0.8 percent. About 1319 shares have advanced against 543 shares declined on the Bombay Stock Exchange. HDFC rebounded with 1.56 percent gain after falling more than 2.5 percent on Q1 earnings. Infosys, Tata Motors, Axis Bank, HUL, Wipro, Bajaj Auto, BHEL, Hindalco, Tata Steel and Vedanta gained 1-2 percent. However, ITC slipped ahead of its Q1 earnings scheduled to be announced on Thursday. ONGC and NTPC declined 1 percent.



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Monday, 27 July 2015

Sensex, Nifty open in green; Bharti, Infosys, Maruti gain -- 28 July 2015

ICICI Bank, Bharti Airtel, Infosys, Maruti and Hero are top gainers in the Sensex while Tata Motors, GAIL, M&M, HDFC and Axis Bank are among laggards.

         
The market has opened in green after the severe loss on Monday. The Sensex is up 57.02 points at 27618.40 and the Nifty is up 16.25 points at 8377.25. About 566 shares have advanced, 174 shares declined, and 66 shares are unchanged. ICICI Bank, Bharti Airtel, Infosys, Maruti and Hero are top gainers in the Sensex while Tata Motors, GAIL, M&M, HDFC and Axis Bank are among laggards. The Indian rupee opened marginally higher by 5 paise at 64.11 per dollar on Tuesday against previous close of 64.16. Ashutosh Raina of HDFC Bank said, "The turmoil in the China had ripple effects across global equity markets and prices of key commodities. The outcome of FOMC meeting will be keenly awaited for cues." The US dollar fell nearly 1 percent against major world currencies. The safe-haven yen remained firm in early trade, as investors remained cautious ahead of a two-day US Federal Reserve meeting beginning later this session. Asian market is at multi-week lows amid China volatility and as decline in commodities continues. US and European stocks too closed lower on Monday under pressure from an overnight plunge in the Shanghai Composite amid a lackluster earnings season. The safe-haven yen held firm in early trade, as investors remained cautious ahead of a two-day US Federal Reserve meeting. Crude prices slipped further, with the Nymex trading close to a four-month lows after a stock market sell-off rattled investors, adding to concerns of an oil supply glut. Brent crude slipped below USD 54. Precious metal gold is trading near its 5.5 year lows with expectations for a near-term US interest rate hike seen keeping momentum firmly with the bears.


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Sensex, Nifty plunge 1.5%; ICICI, L&T, Axis Bank, ONGC drag -- 27 July 2015

Shares of ICICI Bank, L&T, Axis Bank, Tata Motors, Bharti Airtel, ONGC, Bharti Airtel, Tata Steel, Hindalco, Hero Motocorp and Vedanta plunged 2.5-5 percent.


                             
Equity benchmarks continued to see selling pressure, heading towards weak closing for the third consecutive session. The Sensex plunged 429.37 points or 1.53 percent to 27682.94 and the Nifty fell 123.60 points or 1.45 percent to 8397.95 as China's crash and P-Note concerns weighed. Global markets tumbled today with the shanghai closing down more than 8 percent on the back of growth worries as industrial profits declined 0.3 percent Y-o-Y in June. Hang Seng lost more than 750 points while in commodities, oil prices fell further on oversupply worries. The rupee slipped to 6-week low against the dollar at 64.06 as traders avoided taking large positions ahead of Fed Reserve meeting later this week. Most of asian currencies are trading lower. Shares of ICICI Bank, L&T, Axis Bank, Tata Motors, Bharti Airtel, ONGC, Bharti Airtel, Tata Steel, Hindalco, Hero Motocorp and Vedanta plunged 2.5-5 percent.

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Sunday, 26 July 2015

Sensex plunges 300 pts, Nifty breaks 8450; banks drag-- 27 July 2015

The broader markets, too, slipped into red. The BSE Midcap index dropped 1 percent and Smallcap declined 0.8 percent. About 760 shares have advanced, 1111 shares declined, and 102 shares are unchanged on the BSE.

 
        The market extended losses in morning trade with the Sensex falling 318.40 points or 1.13 percent to 27793.91 and the Nifty declining 87.95 points or 1.03 percent to 8433.60. The broader markets, too, slipped into red. The BSE Midcap index dropped 1 percent and Smallcap declined 0.8 percent. About 760 shares have advanced, 1111 shares declined, and 102 shares are unchanged on the BSE. Bank Nifty fell 300 points.
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Nifty below 8500, Sensex falls over 150pts on P-Notes worry -- Alliance Research

ICICI Bank, Tata Motors, L&T, Tata Steel and GAIL are among major losers while Lupin, HUL, Cipla, NTPC and Dr Reddy's Labs are major gainers in the Sensex.


                                 
The market has opened on lower note as traders seem to be cautious of the Participatory Notes (P-Notes)issue. The Sensex is down 161.11 points or 0.6 percent at 27951.20 and the Nifty is down 49.45 points or 0.6 percent at 8472.10. About 469 shares have advanced, 442 shares declined, and 91 shares are unchanged. Concerned over flow of black money into stock market, the Supreme Court-appointed SIT has asked regulator Sebi to compulsorily identify real owners of foreign funds coming through the controversial P-Note route and also prosecute those using equities for tax evasion. P-Notes are typically Offshore Derivative Instruments issued abroad by Foreign Institutional Investors (FIIs) or their associates against the underlying Indian securities. ICICI Bank, Tata Motors, L&T, Tata Steel and GAIL are among major losers while Lupin, HUL, Cipla, NTPC and Dr Reddy's Labs are major gainers in the Sensex. The Indian rupee opened with marginal loss of 3 paise at 64.07 per dollar against previous close of 64.04. On Friday, rupee ended at lowest closing level since June 17. Agam Gupta of Standarad Chartered said," Expect the USD-INR to open around 64.10/dollar. Dollar buyers should emerge on dips towards 63.80-63.85/dollar. Exporters are seen to have decent selling interest in any run-up towards 64.20-64.25 levels." The dollar was subdued against the euro and yen after a drop in US market and bond yields dimmed its allure, with markets focused on whether the upcoming Federal Reserve policy meeting can lift the greenback. Meanwhile, global cues are negative as the Asian markets start the week on a weak note as the fall in commodity prices continues to sap risk appetite. China's Shanghai index slumped more than 2 percent from the get-go, as the country's industrial profits declined 0.3 percent year-on-year in June, according to data. Both US and European markets closed the past week in red. Precious metal is again losing its sheen with gold currently trading below USD  1100 dollars an ounce. Crude prices declined after Baker Hughes data showed an increase in US oil rigs. Brent crude too fell to USD 54 per barrel
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Rupee opens lower at 64.07 per dollar -- 27 July 2015


The Indian rupee opened with marginal loos of 3 paise at 64.07 per dollar against previous close of 64.04.


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Thursday, 23 July 2015

Sensex, Nifty struggle; Axis Bank, Hindalco, TCS gain 1% -- 24 july 2015

Axis Bank, Hindalco, TCS, Bajaj Auto and Sun Pharma are top gainers in the Sensex. Among the losers are Wipro, ICICI Bank, GAIL, M&M and Lupin are among losers.

   
The market is still down. The Sensex is down 64.33 points at 28306.51 and the Nifty is down 13.00 points at 8576.80. About 1090 shares have advanced, 668 shares declined, and 106 shares are unchanged. Axis Bank, Hindalco, TCS, Bajaj Auto and Sun Pharma are top gainers in the Sensex. Among the losers are Wipro, ICICI Bank, GAIL, M&M and Lupin are among losers. Oil prices rose in Asia following recent losses but analysts said the rebound is unlikely to be sustained because of a global crude glut. Brent crude for September advanced 17 cents to USD 55.44. Over the week WTI is down more than 4.0 percent and Brent has lost nearly 3.0 percent. Analysts said the prospects of Iranian oil returning to the oversupplied market after Tehran reached a deal with major powers over its nuclear ambitions is dampening appetite. 


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Sensex, Nifty fall: GAIL, Wipro, Lupin early losers; BoB up - 24 July 2015

GAIL, Lupin and Wipro lost 1-3 percent post Q1 earnings. Vedanta and ICICI Bank slipped over 1 percent. However, Sun Pharma, Bajaj Auto, TCS, Axis Bank, Reliance Industries, Cairn India, BPCL and HCL Tech are early gainers.

   
The market opened lower, tracking weakness in global peers. The Sensex fell 91.41 points to 28279.43 and the Nifty declined 24.45 points to 8565.35. About 495 shares have advanced, 278 shares declined, and 71 shares are unchanged on the BSE. GAIL, Lupin and Wipro lost 1-3 percent post Q1 earnings. Vedanta and ICICI Bank slipped over 1 percent. However, Sun Pharma, Bajaj Auto, TCS, Axis Bank, Reliance Industries, Cairn India, BPCL and HCL Tech are early gainers. Bank of Baroda rallied over 1 percent after RBI lifted restrictions on FIIs to buy shares in Bank Of Baroda. "Foreign shareholding in Bank Of Baroda now below prescribed threshold limit," said RBI. Asian markets ex-China witnessed selling pressure following downtrend on Wall Street last night. The Indian rupee continued its downtrend and falling towards 64 per dollar mark. It has opened lower by 22 paise at 63.97 per dollar today against 63.75 in previous session. The dollar-rupee pair is trading at five-week low. Pramit Brahmbhatt of Veracity said, "Expect market to trade cautiously today as investors are short of confidence. Investors are expected to trade watchfully ahead of data due for the day." He further added, "Rupee is expected to trade rangebound to slightly weak taking cues from a stronger dollar. Range for the day is seen between 63.20-64/dollar today."

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Nifty & Bank Nifty Fut Levels for today :: 24 july 2015

Nifty Future::
Trend:ideway
Pivot Level:8617
Support:8567/8530/8480
Resistance:8653/8703/8740


Bank Nifty Future::
Trend:ideway
Pivot Level:18967
Support:18790/18675/18498
Resistance:19082/18259/19374
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Rupee slips 22 paise to open at 63.97 per dollar - 24 july 2015

Rupee is expected to trade rangebound to slightly weak taking cues from a stronger dollar. Range for the day is seen between 63.20-64/dollar today, says Pramit Brahmbhatt of Veracity.

 
The Indian rupee continued its downtrend and falling towards 64 per dollar mark. It has opened lower by 22 paise at 63.97 per dollar on Friday against 63.75 in previous session. The dollar-rupee pair is trading at five-week low. Pramit Brahmbhatt of Veracity said, "Expect market to trade cautiously today as investors are short of confidence. Investors are expected to trade watchfully ahead of data due for the day." He further added, "Rupee is expected to trade rangebound to slightly weak taking cues from a stronger dollar. Range for the day is seen between 63.20-64/dollar today." Also Read - Rate hikes by RBI a certainty in 2016: Tata Securities The euro strengthend as the Greek parliament approves a second set of reforms required to start negotiations with lenders in a bid to avert bankruptcy.

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Sensex falls 134 pts: Lupin, Bajaj Auto plunge; Cairn up 6% - 23 July 2015

Private banks, capital goods, select metals and pharma stocks dragged the market.



The market lost half a percent on Thursday due to profit booking after seeing more than 300-point relief rally in previous session. Private banks, capital goods, select metals and pharma stocks dragged the market. Even weak earnings from Bajaj Auto and Lupin also dented sentiment. The 30-share BSE Sensex fell 134.09 points to 28370.84. The 50-share NSE Nifty closed below the 8600 level, down 43.70 points to 8589.80. About 1531 shares advanced against 1315 shares declined on the Bombay Stock Exchange. Experts see some consolidation in the market. They expect the market to hit 8100-8200 before seeing 9000 level. Saurabh Mukherjea of Ambit Capital said the market will find support as long as domestic flows are intact. Domestic investor sentiment is the most positive seen in last 3-4 years, he added. Meanwhile, the monsoon session of parliament continued to be a washout. Both houses adjourned for the day following ruckus over the Lalit Modi controversy. The opposition stuck to its demand seeking external affairs minister Sushma Swaraj's resignation. Lupin plunged more than 5 percent as its first quarter earnings missed expectations. Topline fell 5.7 percent and profit tanked 16 percent in June quarter compared to same quarter last year. The company acquired US generics firm Gavis for USD 880 million, saying the acquisition will be EPS accretive from the first year itself. Additionally, sources told CNBC-TV18 that US Food & Drug Administration has inspected Lupin's manufacturing unit in Goa last week and handed out Form 483 with 9 observations post inspection. The US drug regulator found observations related to cross contamination & free movement and stock locations & test records, sources said. Lupin's Goa unit makes formulations for supplies to US, EU and Japan. Bajaj Auto, too, disappointed  street as the company's topline lagged estimates, growing just 6.8 percent in June quarter year-on-year. Profit rose 37 percent, boosted by other income. Average realisations during the quarter also declined 9.5 percent Q-o-Q to Rs 55,832 per unit.  S Ravikumar, President, Business Development, Bajaj Auto said realisations would improve from here on and market share in the premium bike segment was likely to improve in the next quarter. Cairn India surged 6 percent after a media report indicated that Cairn Energy will vote against Vedanta's Cairn India offer. Brokerage CLSA said the rejection of merger may drive 50 percent upside in Cairn. Among others, shares of ICICI Bank, TCS, L&T, HUL, Axis Bank (ahead of Q1 earnings), Bharti Airtel and Tata Steel were down 1-3.6 percent. However, Tata Motors bucked the trend, up 3 percent followed by Dr Reddy's Labs, M&M and Maruti Suzuki with 1-1.6 percent upside. Eicher Motors lost 3 percent post downgrades by a few brokerages. Deutsche Bank downgraded the stock to hold while Goldman Sachs removed it from Asia Pacific buy list. 

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Sensex, Nifty marginally down; Maruti, Tata Motors up 2-3% - 23 July 2015

Bajaj Auto, Tata Steel, Bharti Airtel, HUL and Lupin are major losers while Tata Motors, Dr Reddy's Labs, M&M, Maruti and Infosys are top gainers in the Sensex.

The Sensex is down 98.69 points at 28406.24, and the Nifty down 34.85 points at 8598.65. About 1506 shares have advanced, 1148 shares declined, and 155 shares are unchanged. Tata Motors, Dr Reddy’s Labs, M&M, Maruti and Infosys are top gainers while Bajaj Auto, Tata Steel, Bharti Airtel and HUL are down.
The market is rangebound as corporate earnings of April-June quarter is underway. The Sensex is down 24.59 points at 28480.34 and the Nifty is down 9.90 points at 8623.60. About 1560 shares have advanced, 1079 shares declined, and 155 shares are unchanged. Bajaj Auto, Tata Steel, Bharti Airtel, HUL and Lupin are major losers while Tata Motors, Dr Reddy’s Labs, M&M, Maruti and Infosys are top gainers in the Sensex. Gold prices recovered by 140 per ten grams to 24,960 in the opening trade on fresh buying from investors on the bullion market here today despite fall in the global market. Silver prices also firmed up on moderately on some industrial demand. Renewed buying from investors mainly boosted the market sentiment as gold prices nose-dived to touch a four-year low and closed below the key significant Rs 25,000 milestone at the bullion hub.
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Nifty holds 8600 amid pressure; Bajaj Auto, HUL, ONGC drag -- 23 July 2015

Mahesh Nandurkar, CLSA said the brokerage’s recent meetings with investors in Singapore & Hong Kong reveal that India continues to be a ‘favoured’ market among regional investors. While some investors have reduced India’s weightage, most investors believe in a sharp H2FY16 earnings recovery & focus on the long-term structural positives, retaining their overweight, he added.According to him, downside risks to the market largely pertain to under-appreciation of the property sector slowdown & it’s potential economy wide impact. Nandurkar said the brokerage continued to stay cautious in the near-term on earnings downgrade possibilities. “Our top picks are Infosys, Maruti, HDFC Bank, Bharti Airtel, Coal India, Zee Entertainment, ICICI Bank, Sun Pharma & Tata Motors,” he added.


The market slipped into red in noon trade, dragged by FMCG and banks stocks. The Sensex declined 34.90 points to 28470.03 and the Nifty fell 15.55 points to 8617.95. The broader markets outperformed benchmarks, though they are off the day’s high. About 1467 shares have advanced, 1035 shares declined, and 139 shares are unchanged on the BSE. Cairn India surged 7 percent after a media report indicated that Cairn Energy will vote against Vedanta’s Cairn India offer. CLSA said the rejection of merger may drive 50 percent upside in Cairn. In earnings action, Bajaj Auto topped the selling list on Sensex, down more than 3 percent as the company’s topline missed estimates. Profit grew by 37 percent boosted by other income. Wipro, Lupin & GAIL remained in focus ahead of June quarter earnings. Eicher Motors slipped 1 percent post downgraded by a few brokerages. Deutsche Bank downgraded stock to hold while Goldman Sachs removed it from Asia Pacific buy list. Shares of ICICI Bank, ONGC, HUL, Bharti Airtel and Tata Steel declined 1-3 percent while Tata Motors, Infosys, M&M, Dr Reddy’s Labs and Maruti gained 1-2.5 percent.
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Wednesday, 22 July 2015

Alliance Reearch - MCX Levels for today::


Gold (August)
Trend-Sideway
Pivot Point:24686
Support::24562/24447/24323
Resistance::24801/24925/25040

Silver (Sep)
Trend-Siseway
Pivot Point::33947
Support::33670/33385/33108
Resistance::34232/34509/34794

Crude Oil(July)
Trend-Down
Pivot Point::3206
Support::3174/3151/3119
Resistance::3229/3261/3284

Copper (Aug)
Trend-Sideway
Pivot Point::345.65
Support::342.15/339.85/336.35
Resistance::348/351.55/353.75

Lead (July)
Trend-Sideway
Pivot Point::112
Support::111.20/110.40/109.60
Resistance::112.80/113.60/114.40

Nickel (July)
Trend-Sideway
Pivot Point:732.40
Support::724.10/719.30/711
Resistance::737.20/745.50/750.30

Natural Gas (July)
Trend-Sideway
Pivot Point:183.50
Support::181.40/179/176.90
Resistance::186/188/190.50
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Sensex holds 28500; Dr Reddys gains 2%, Tata Steel down 3% -- 23 July 2015

Dr Reddy's Labs rallied more than 2 percent followed by GAIL and Vedanta with 1 percent upside. However, Tata Steel topped the selling list on Sensex, down 2.8 percent. HUL, Tata Motors and Bharti Airtel slipped 1-1.6 percent.



   
The market entered into consolidation mode after rallying mroe than 1 percent in previous session. The Sensex gained 30.98 points at 28535.91 and the Nifty advanced 8.55 points to 8642.05. The broader markets marginally outperformed benchmarks with the BSE Midcap and Smallcap indices rising 0.35 percent and 0.8 percent, respectively. More than two shares advanced for every share declining on the Bombay Stock Exchange. The recent stock market run -- the Sensex is up 18 percent since the Narendra Modi government came to power -- has largely been based on hopes the government's steps to kickstart the economy will boost corporate earnings, says Saurabh Mukherjea, CEO - Institutional Equities, Ambit Capital. "The domestic investor sentiment has been the most positive in three-four years," he told CNBC-TV18's Latha Venkatesh and Sonia Shenoy, a belief that is borne out by inflows data into mutual funds . Dr Reddy's Labs rallied more than 2 percent followed by GAIL and Vedanta with 1 percent upside. However, Tata Steel topped the selling list on Sensex, down 2.8 percent. HUL, Tata Motors and Bharti Airtel slipped 1-1.6 percent.
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Sensex, Nifty flat; ITC falls 1%, GAIL & Bajaj Auto gain -- 23 July 2015

GAIL, Dr Reddy's Labs, Bajaj Auto, Wipro and M&M are top gainers while Tata Steel, Vedanta, HUL, Hindalco and ITC are among laggards in the Sensex.

The market has opened flat but quickly slipped into red. The Sensex is down 9.92 points at 28495.01, and the Nifty is down 5.20 points at 8628.30. About 639 shares have advanced, 209 shares declined, and 77 shares are unchanged. GAIL, Dr Reddy’s Labs, Bajaj Auto, Wipro and M&M are top gainers while Tata Steel, Vedanta, HUL, Hindalco and ITC are among laggards in the Sensex.
The Indian rupee slipped 6 paise in the early trade on Thursday at 63.64 per dollar versus 63.58 Wednesday. Mohan Shenoi of Kotak Mahindra Bank said, “Global markets are witnessing a fall in gold prices as part of a broader slide in commodity prices. US Fed rate hike looks certain in 2015. However, dollar is still trading in a range against major currencies awaiting further triggers.” The dollar gained after its biggest fall in a month on Tuesday. Sterling too gained in response to minutes from the Bank Of England’s last meeting that suggested some policymakers support higher interest rates. Asian stocks mostly traded on the back foot, as investors digested a flurry of economic data amid dampened sentiment due to a weaker finish on Wall Street overnight. The spotlight remains on the commodity space; spot gold edged up modestly to USD 1,092.90 an ounce in early Asian trade after chalking up its 10th straight day of losses, in the longest losing streak for the precious metal in almost 20 years. Over in Europe, the Greek government secured enough votes in parliament to pass a second package of reforms for a bailout package. The euro appeared little changed at 1.0944 against the greenback after the news. Wall Street declined for a second straight session due to disappointing tech earnings overnight. The Nasdaq Composite was the biggest loser, down 0.7 percent, while the blue-chip Dow and the S&P 500 shed 0.4 and 0.2 percent, respectively.
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Alliance Research -- Rupee falls further; opens at 63.64 per dollar

USD-INR is also trading in a range with Reserve Bank of India (RBI) presence on both sides. USD-INR is expected to trade today in a range of 63.50-63.70/dollar, says Mohan Shenoi of Kotak Mahindra Bank.




The Indian rupee slipped 6 paise in the early trade on Thursday at 63.64 per dollar versus 63.58 Wednesday. Mohan Shenoi of Kotak Mahindra Bank said, "Global markets are witnessing a fall in gold prices as part of a broader slide in commodity prices. US Fed rate hike looks certain in 2015. However, dollar is still trading in a range against major currencies awaiting further triggers." "USD-INR is also trading in a range with Reserve Bank of India (RBI) presence on both sides. USD-INR is expected to trade today in a range of 63.50-63.70/dollar," he added. Also Read -  Hope RBI acknowledges near normal monsoon on Aug 4: UTI MF The dollar gained after its biggest fall in a month on Tuesday. Sterling too gained in response to minutes from the Bank Of England's last meeting that suggested some policymakers support higher interest rates.


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Tuesday, 21 July 2015

Nifty struggles to hold 8500, Sensex weak; Sun Pharma up-- 22 July 2015

Sun Pharma, Bajaj Auto, Wipro, ONGC, NTPC are top gainers while Infosys, Tata Steel, Vedanta, Hindalco and Tata Motors are major losers.
The market has opened with small cuts. The Sensex is down 22.72 points at 28159.42, and the Nifty is down 18.65 points at 8510.80. About 270 shares have advanced, 246 shares declined, and 72 shares are unchanged. Sun Pharma, Bajaj Auto, Wipro, ONGC, NTPC are top gainers while Infosys, Tata Steel, Vedanta, Hindalco and Tata Motors are major losers.

The Indian rupee opened with a marginal loss of 7 paise at 63.58 per dollar on Wednesday against previous close of 63.51. Himanshu Arora of Religare said, "The USD-INR pair is expected to trade in a rangebound fashion today with bearish bias amid weakness in dollar. Fresh selling of dollars by banks and exporters is expected to support the rupee today."  The euro rebounded from three-month lows against the dollar as an easing of pessimism about Greece. The yen rose versus the greenback on upbeat remarks on inflation from the Bank of Japan Chief. Asian markets have opened weak with Japan's Nikkei down more than a percent as the fall in commodity prices continues. Globally, too stocks in the US closed lower with lackluster earnings from a few blue chips pressuring the Dow Jones Industrial Average 1 percent. Greece's stock exchange remained closed, while the local banks re-opened on Monday for the first time in three weeks. Crude prices continue to remain volatile with NYMEX crude trading above 50 dollars per barrel and Brent holding around 56 dollars per barrel.   Gold hovers near 5-year lows with more losses expected in the coming months following Monday’s "bear raid" when sellers dumped an estimated 33 tons in just two minutes.

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Nifty & Bank Nifty Fut Levels for today :: 22 July 2015



Nifty Future::
Trend:ideway
Pivot Level:8575
Support:8501/8458/8384
Resistance:8618/8692/8735


Bank Nifty Future::
Trend:ideway
Pivot Level:18882
Support:18617/18469/18204
Resistance:19030/19295/19443
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Rupee opens lower at 63.58 per dollar - 22 July 2015

The range for the USD-INR is seen between 63.35-63.70/dollar today, says Himanshu Arora of Religare.


         
The Indian rupee opened with a marginal loss of 7 paise at 63.58 per dollar on Wednesday against previous close of 63.51. Himanshu Arora of Religare said, "The USD-INR pair is expected to trade in a rangebound fashion today with bearish bias amid weakness in dollar. Fresh selling of dollars by banks and exporters is expected to support the rupee today." "The range for the USD-INR is seen between 63.35-63.70/dollar today," he added. 
The euro rebounded from three-month lows against the dollar as an easing of pessimism about Greece. The yen rose versus the greenback on upbeat remarks on inflation from the Bank of Japan Chief.




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Alliance Research -- Nifty below 8550, Sensex skids 234pts; Sun Pharma dips 15%

Infosys was star of the day with 11 percent gains at end. Bharti, Wipro, Bajaj Auto and Hero MotoCorp are top gainers. Sun Pharma tanks 15 percent while Lupin, Vedanta, ONGC and Tata Steel were among major laggards.



After a choppy day, the market ended with heavy losses. The Sensex was down 237.98 points or 0.8 percent at 28182.14, and the Nifty slipped 74 points or 0.9 percent at 8529.45. About 966 shares advanced, 1863 shares declined, and 138 shares were unchanged. 
Infosys was star of the day with 11 percent gains at end. Bharti, Wipro, Bajaj Auto and Hero MotoCorp are top gainers. Sun Pharma tanks 15 percent while Lupin, Vedanta, ONGC and Tata Steel were among major laggards.
The Sensex fell 254.60 points or 0.90 percent to 28165.52 and the Nifty dropped 72.70 points or 0.85 percent to 8530.75. About 908 shares have advanced, 1857 shares declined, and 139 shares are unchanged on the BSE. 
FMCG major Hindustan Unilever (HUL) disappointed street on Tuesday with the June quarter net profit growing 0.2 percent year-on-year to Rs 1,059 crore. The growth was impacted by one-time profit on sale of investments in the base quarter, higher tax rate and lower other income. Total income from operations grew by 5 percent to Rs 8,105 crore in the quarter ended June compared to Rs 7,716.34 crore in the same quarter last year. Other income nearly halved to Rs 108.61 crore from Rs 202.11 crore during the same period. The bottomline and topline was lower than analyst estimates, volume growth was in line and operational performance beat expectations. According to a CNBC-TV18 poll, profit was estimated at Rs 1,110 crore on revenue of Rs 8,323 crore for the quarter. "The growth in the quarter was impacted by the phasing out of excise duty incentives and price de-growth, as the benefit of lower commodity costs was passed on to consumers," said the company in its filing. During the quarter, the domestic consumer business grew 5 percent, with 6 percent underlying volume growth (against forecast of 5-7 percent range and 5 percent reported in the year-ago period). Operating profit grew by 14.35 percent year-on-year to Rs 1,506 crore and margin expanded by 150 basis points to 18.6 percent in first quarter of FY16, which were ahead of estimates of Rs 1,495 crore and 17.9 percent, respectively. Harish Manwani, Chairman said in a subdued market environment, the business delivered another quarter of healthy volume led growth and strong improvement in operating margin.The market is sinking in red after HUL posted disappointing April-June quarter results. The FMCG’s net profit grew 0.2 percent year-on-year to Rs 1,059 crore with 6 percent underlying volume growth. The stock is down 2 percent. The Sensex is down 66.10 points at 28354.02 and the Nifty is down 23.25 points at 8580.20. About 1064 shares have advanced, 1654 shares declined, and 141 shares are unchanged. Infosys, Bharti, Wipro, BHEL and Bajaj Auto are top gainers while Sun Pharma, Lupin, Vedanta, Tata Steel and Cipla. Gold stabilised holding just above a five-year low, but with investors still clinging to views of further price falls a day after the metal lost 4 percent. Reflecting losing interest in gold, holdings in top gold fund SPDR Gold Trust fell to the lowest since 2008. Bullion, after falling on Monday by the most since September 2013, is trading just above the critical USD 1,100 an ounce support level, another breach of which could lead to another selloff, traders and analysts say.

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Monday, 20 July 2015

Sensex, Nifty in red; Sun Pharma sinks 14%, Infosys up 7% -- 21 July 2015

The market has slipped into red. The Sensex is down 51.61 points at 28368.51, and the Nifty is down 13.40 points at 8590.05. About 695 shares have advanced, 574 shares declined, and 90 shares are unchanged. Sun Pharma is down 14 percent while Vedanta, Tata Motors, ONGC and Axis Bank are major losers in the Sensex. Infosys is still up 5 percent, Bharti, Coal India, Wipro and HDFC are top gainers.


The market has opened in green territory. The Sensex is up 53.50 points at 28473.62, and the Nifty is up 20.65 points at 8624.10. About 538 shares have advanced, 201 shares declined, and 85 shares are unchanged. Infosys is up 8 percent after it announced stellar Q1 earnings. Sun Pharma is down 14 percent after it issued earnings warnings. Bharti, Wipro, HDFC and TCS are other top gainers in the Sensex. Among the losers are Vedanta, Lupin, Axis Bank and Tata Steel. The Indian rupee has opened lower at 63.70 per dollar against previous day's closing value of 63.66 a dollar. Ashutosh Raina of HDFC Bank said, "The somewhat stable situation in Greece and chances of a Fed rate hike sent dollar soaring with Gold hitting a 5-year low." The dollar reached its highest in three months against a basket of currencies on a rise in US bond yields as traders built bets the Federal Reserve would raise interest rates later this year. Wall Street finished little changed on Monday as a better-than-expected start to corporate earnings season boosted investor confidence, but gains were curbed by a drop in commodities. Gold prices plunged to their lowest in more than five years while copper prices hit their lowest in nearly two weeks. Oil prices fell on signs of a growing glut in refined products to pull the S&P energy index down 1.3 percent. Asian stocks traded mixed early Tuesday, as traders kept a wary eye on the drop in commodity prices.

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Nifty nears 8650; Infosys gains 8%, Sun Pharma falls 14% -- 21 July 2015

Infosys is up 8 percent after it announced stellar Q1 earnings. Sun Pharma is down 14 percent after it issued earnings warnings.

         
The market has opened in green territory. The Sensex is up 53.50 points at 28473.62, and the Nifty is up 20.65 points at 8624.10. About 538 shares have advanced, 201 shares declined, and 85 shares are unchanged. Infosys is up 8 percent after it announced stellar Q1 earnings. Sun Pharma is down 14 percent after it issued earnings warnings. Bharti, Wipro, HDFC and TCS are other top gainers in the Sensex. Among the losers are Vedanta, Lupin, Axis Bank and Tata Steel.
The Indian rupee has opened lower at 63.70 per dollar against previous day's closing value of 63.66 a dollar. Ashutosh Raina of HDFC Bank said, "The somewhat stable situation in Greece and chances of a Fed rate hike sent dollar soaring with Gold hitting a 5-year low." The dollar reached its highest in three months against a basket of currencies on a rise in US bond yields as traders built bets the Federal Reserve would raise interest rates later this year.

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Alliance Research -- Sensex, Nifty see profit taking; M&M, Bharti, Dr Reddy's up 20 July 2015

ICICI Bank, HDFC, Axis Bank, State Bank of India, Tata Motors, HUL, BHEL, Coal India and Vedanta dropped 1-2 percent. However, Mahindra & Mahindra, Bharti Airtel, Dr Reddy's Labs and Hindalco Industries gained 1 percent each.


Shares of Spicejet today surged over 5 percent amid reports that two Gulf airlines have approached the company for buying a stake in the domestic firm. Following the buzz, the stock rose by 5.22 percent to Rs 23.15 on BSE. According to media reports, two big Gulf airlines have approached Ajay Singh-promoted SpiceJet for buying a stake in the airline.
The market remained in a negative terrain with the Nifty struggling below 8600, dragged banking & financials, FMCG and capital goods stocks. The broader markets continued to outperform benchmarks marginally and the market breadth remained in favour of advances with the ratio of 1339:1187. The Sensex declined 132.07 points to 28331.24 and the Nifty fell 43.40 points to 8566.45. ICICI Bank, HDFC, Axis Bank, State Bank of India, Tata Motors, HUL, BHEL, Coal India and Vedanta dropped 1-2 percent. However, Mahindra & Mahindra, Bharti Airtel, Dr Reddy’s Labs and Hindalco Industries gained 1 percent each. Oil prices edged lower today as data showed Saudi Arabian exports fell to the lowest in five months despite record output, while a resurgence in US drilling activity seen earlier this month seemed to fizzle out. Both international and US crude futures posted their third consecutive weekly losses last week on expectations of increased exports from Iran following a deal to ease sanctions against the OPEC producer. Brent September crude declined 0.16 percent to USD 57.01 a barrel.
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Sunday, 19 July 2015

Sensex, Nifty under pressure; Infosys, Axis Bank, BHEL fall-- 20 July 2015

The market remained marginally under pressure, dragged by banking & financials. The Sensex declined 46.91 points to 28416.40 and the Nifty fell 21.10 points to 8588.75. However, the broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices rising 0.2 percent.

About 1141 shares have advanced, 718 shares declined, and 97 shares are unchanged on the Bombay Stock Exchange. Infosys, HDFC, ITC, Axis Bank, Tata Motors, SBI, BHEL and ICICI Bank dropped 0.2-1 percent. ACC fell 2 percent, reacting negatively to its quarterly numbers released on Friday evening with EBIDTA per tonne down 28 percent Y-o-Y and 36 percent Q-o-Q. CLSA has cut CY15-17 estimates by 10-16 percent but continue to believe that the worst is over for the sector. UltraTech Cement also declined nearly 2 percent ahead of earnings today. Federal Bank crashed 7 percent as the bank reported a 35 percent fall in profits Y-o-Y with provisions up over 5 times Y-o-Y. Gross non-performing assets worsened 55 basis points Q-o-Q primarily due to one account of over Rs 100 crore from the steel sector slipping. Karnataka Bank also lost nearly 6 percent as profit in Q1 fell by 10 percent. Oberoi Realty and CRISIL gained 1.5 percent each while CARE Ratings fell 3 percent post earnings.

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Sensex weak, Nifty below 8600; ACC, UltraTech, HDFC drag - 20 July 2015

UltraTech Cement's standalone profit after tax is expected to fall 12 percent year-on-year to Rs 549 crore in the quarter ended June, according to a CNBC-TV18 poll. Higher interest and depreciation cost associated with acquisition of Jaiprakash Associates’ Gujarat plants may impact the bottomline. The company will announce its earnings on July 20. Total income from operations is seen rising 7 percent to Rs 6,088 crore in the first quarter of financial year 2015-16 from Rs 5,692 crore in the year-ago period led by capacity growth. Total volumes are expected to inch up nearly 3 percent to 12.3 million tonnes, supported by new capacity addition and acquired assets. Operating profit may increase by 1 percent year-on-year to Rs 1,062 crore but margin may decline 110 basis points to 17.4 percent in the quarter gone by. Analysts feel weak pricing environment and lower international coal prices (against higher railway freight costs) may impact operating profit margin.

Anand Kumar of Bank of America Merrill Lynch said benign crude prices would be a positive for India. He thinks a further decline could lead to a small rally in the Indian equity markets despite the near-term concerns of earnings and valuations. Lower crude prices on the back of this higher supply should help Indian economy as it helps in managing the twin deficit as well as inflation and strengthens the case for rate cuts, he believes. According to him, key beneficiaries of lower crude prices will be HPCL, Asian Paints, Jubilant, SBI, ICICI Bank, Adani Ports.
The market has opened marginally higher in early trade Monday led by private banks, auto and pharma stocks. However, it immediately erased gains to trade with losses. The Sensex declined 83.37 points to 28379.94 and the Nifty fell 34.40 points to 8575.45. About 495 shares have advanced, 159 shares declined, and 75 shares are unchanged on the BSE. Cipla, Hero Motocorp, Bajaj Auto, HDFC Bank, BPCL, NMDC and Idea Cellular gained 0.5-1 percent while ACC, UltraTechCement, Tata Power, Ambuja Cements and HDFC lost 1-3 percent. Analysts suggest that in the near term, equities will take cues from the ongoing earnings season as well as the monsoon Parliament, which opens tomorrow. The Indian rupee has opened with a marginal loss of 8 paise at 63.55 per dollar today against Friday's closing value of 63.47 a dollar. Agam Gupta of Standard Chartered said, "We expect local government banks to provide a floor to the pair as they buy dollars around 63.45 levels." "We expect the USD-INR pair to trade in the range of 63.40-63.60/dollar for the day," he added. Asian markets are moving broadly higher, though Japan and Indonesia are closed for public holidays. Dollar hit a three-month high against a basket of major currencies after solid US inflation and housing data supported expectations for the Federal Reserve to raise interest rates in coming months.

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Thursday, 16 July 2015

Alliance Research -- Sensex, Nifty flat; HUL, Coal India, Axis major laggards

The market is absolutely flat as the Sensex is up 9.32 points at 28455.44, and the Nifty down 1.20 points at 8606.85. About 1231 shares have advanced, 1022 shares declined, and 142 shares are unchanged.


The market is absolutely flat as the Sensex is up 9.32 points at 28455.44, and the Nifty down 1.20 points at 8606.85. About 1231 shares have advanced, 1022 shares declined, and 142 shares are unchanged. BHEL, Tata Steel, Sun Pharma, Bharti Airtel and Hindalco are top gainers in the Sensex. Among the losers are HDFC, Coal India, HUL, Axis Bank and Tata Motors. Oil prices edged up but further gains are unlikely, analysts said, owing to ongoing concerns about a global supply glut, while increasing dollar strength will also likely weigh on the downside. Crude investors continue to fret as the global economy struggles to get back up to speed, despite a strong pick-up in the United States, the world's biggest oil consumer. While fears over the Greek debt crisis abate, prices took a hit this week after crude-rich Iran and world powers agreed a historic deal to check the country's nuclear ambitions, which in turn eases crippling sanctions on its crucial oil exports.

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Nifty holds 8600, Sensex firm; Sun Pharma, Hindalco gainers - 17 July 2015

Sun Pharma, Hindalco, Hero MotoCorp, L&T and Wipro are top gainers in the Sensex. Among the losers are Axis Bank, Coal India, Tata Motors, GAIL and Maruti.


Shares of Lupin gained more than 1 percent on approval from US Food and Drug Administration for diabetes drug. The pharma major has received an approval from the USFDA for PrandiMet (also known as Prandin) generic that is used for treatment of type 2 diabetes. Danish pharmaceutical company Novo Nordisk is the innovator of the drug and has received approval from USFDA in June 2008. "PrandiMet had been approved to lower the blood glucose in adult patients with type 2 diabetes whose hyperglycemia cannot be controlled satisfactorily by meglitinide and/or metformin," Novo said in its release published in 2008. Analysts feel this could be a limited competition drug. Actavis and Sandoz are few of the other generic filers for Prandin.
Cement major ACC is expected to degrow in the quarter ended June. Profit is likely to fall 11 percent year-on-year to Rs 217 crore and total income may drop 2 percent to Rs 3.012 crore, according to a CNBC-TV18 poll. The company follows January-December as its financial year. Analysts expect cement volumes to decline in April-June quarter (following weakness in past two consecutive quarters) due to poor sales seen in Southern and Northern markets.
After a stellar rally yesterday, the market has opened with marginal gains on Friday. The Sensex is up 74.17 points at 28520.29 and the Nifty is up 12.75 points at 8620.80. About 627 shares have advanced, 137 shares declined, and 79 shares are unchanged. Sun Pharma, Hindalco, Hero MotoCorp, L&T and Wipro are top gainers in the Sensex. Among the losers are Axis Bank, Coal India, Tata Motors, GAIL and Maruti. The rupee has opened flat at 63.51 per dollar on Friday against 63.51 Thursday. Himanshu Arora of Religare said, "The USD-INR pair is expected to trade slightly higher today amid latest comments from Fed Chair, Janet Yellen, that they plan to hike rates this year on back of strengthening US economy." The dollar index rallied to a seven-week high. An easing in jobless claims reinforced market expectations of a 2015 US interest rate hike. Asian markets are holding steady with a mild positive bias this morning.Nikkei has bounced up to its highest level since late June as the yen hovered near its weakest level in more than three weeks. The Nikkei has reversed last week’s 4 percent cut with a 4 percent gain this week. Kospi index touched a two-week high in early trade but has come off more than half a percent from the day’s top. Posco is under pressure on news that it is scrapping plans for a USD 12 billion project it had agreed to set up in India more a decade ago. Taiwan has been an underperformer this week down 3 percent. Singapore markets shut today US stocks closed near highs, with the Nasdaq at a record, as investors focused on earnings beats amid progress towards near-term resolution in the Greek debt crisis. The Nasdaq composite rallied more than 1 percent to set a new closing record of 5163. European stocks closed higher after the European Central Bank (ECB) extended its emergency funding for the country's banks. Mario Draghi confirmed an increase in emergency funding to Greece by 900 million euro over one week. He added the ECB would "grant in principle a 3-year ESM stability support to Greece, subject to the completion of relevant national procedures. The dollar index rallied to a seven-week high. An easing in jobless claims reinforced market expectations of a 2015 US interest rate hike. Brent crude prices are steady around USD 57 per barrel after data showed a fall in crude inventories and strong demand from refineries in the US. Gold falls to an eight-month low after the dollar index rises to a seven-week high.
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Alliance Research — Sensex, Nifty, Midcap strong; Axis Bank, Tech Mahindra lead

The broader markets, too, gained strength. The BSE Midcap and Smallcap indices rose 0.9 percent and 0.6 percent, respectively. About 1387 shares have advanced, 991 shares declined, and 148 shares are unchanged on the Bombay Stock Exchange.

The market continued to see buying interest in noon trade. The Sensex gained 134 points at 28332.29 and the Nifty advanced 43.60 points to 8567.40, supported by banking & financials, auto and pharma stocks. The broader markets, too, gained strength. The BSE Midcap and Smallcap indices rose 0.9 percent and 0.6 percent, respectively. About 1387 shares have advanced, 991 shares declined, and 148 shares are unchanged on the Bombay Stock Exchange. Tech Mahindra and BPCL rallied more than 2 percent. HDFC, Kotak Mahindra Bank, HDFC Bank, Reliance Industries and Sun Pharma gained 0.8-1.8 percent. However, M&M, Vedanta, Hindalco, Wipro, Hero Motocorp, NMDC and Bank of Baroda declined 0.6-1 percent. Axis Bank surged 2.8 percent and Yes Bank gained 1 percent. The cabinet today is expected to clear a proposal to do away with the distinction between different types of foreign investments through a composite cap on all kinds of FDI investments The rally in bank stocks may be on hopes of some relief for distressed steel companies. Sources told CNBC-TV18 that banking secretary has asked steel ministry to consider an effective anti-dumping duty and levy of appropriate duties. Pipavav Defence surged 6 percent after Anil Ambani said the company will invest an additional Rs 5,000 crore over next few years towards indigenisation and that it will develop “combat management systems” for future naval vessels. Globally, Asian markets remained steady as Greek parliament voted in favour of a new bailout plan. European markets, too, are expected to open higher. Dollar index rose above the 97 mark on expectations of a rate hike in US as early as September.
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