Banks, IT, metal stocks are supporting benchmark indices. Coal India, HDFC, Wipro, SBI and Axis Bank are top gainers in the Sensex. Among the losers are NTPC, HUL, Hindalco, Reliance and Hero Motocorp.
The crisis in Greece is unlikely to influence the US Federal Reserve's decision on interest rates, feels Nizam Idris of Macquarie. Global financial markets are speculating that the Fed may hike interest rates in September or December depending on the pace of recovery in the US economy. Idris says the rupee may trade in a range of 63.0-63.50 to the dollar near term. He says the rupee is being helped by both local and global factors, with falling commodity prices being an important support. Idris says the RBI's decision to restate foreign investment will be an added boost. 11:30 am Buzzing: Shares of Sobha Developers rose over 5 percent intraday on improving sales. The real estate developer has reported April-June quarter pre-sales at Rs 500 crore, up 5 percent year-on-year. After a sluggish 2014, its pre-sales trends have improved over the last two quarters driven by the company’s middle-income housing project launch Dream Acres in Bangalore. Non-Bangalore market performance is muted. JP Morgan says that Sobha Developers' FY16 pre-sales guidance of Rs 2600 crore is achievable as launch activity scales up with an additional phase of its Bangalore affordable project and a new project in Chennai. Don't miss: Q1FY16 curtain raiser: Dollar revenue to pinch IT cos again The market is steady as the Nifty is comfortably holding 8500-mark. The 50-share index is up 22.35 points or 0.3 percent at 8544.50. The Sensex is up 74.56 points or 0.3 percent at 28283.32. About 1664 shares have advanced, 571 shares declined, and 111 shares are unchanged. Bank, IT, metal stocks are supporting benchmark indices. Coal India, HDFC, Wipro, SBI and Axis Bank are top gainers in the Sensex. Among the losers are NTPC, HUL, Hindalco, Reliance and Hero Motocorp. Oil rebounded in Asia on bargain-hunting after prices plunged a day earlier as Greek defiance against austerity measures imposed by its creditors sparked turbulence in global markets. Prices rose ahead of an emergency summit on Greece by eurozone leaders in Brussels on Tuesday, after Greek citizens overwhelmingly rejected creditors' demands for further belt-tightening in a referendum. Gold futures prices today fell by 0.35 percent to Rs 26,235 per 10 grams as speculators offloaded their positions amid a weak global trend. Market analysts said the fall in gold futures was mostly attributed to trimming of positions by speculators, tracking a weak trend overseas.
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The crisis in Greece is unlikely to influence the US Federal Reserve's decision on interest rates, feels Nizam Idris of Macquarie. Global financial markets are speculating that the Fed may hike interest rates in September or December depending on the pace of recovery in the US economy. Idris says the rupee may trade in a range of 63.0-63.50 to the dollar near term. He says the rupee is being helped by both local and global factors, with falling commodity prices being an important support. Idris says the RBI's decision to restate foreign investment will be an added boost. 11:30 am Buzzing: Shares of Sobha Developers rose over 5 percent intraday on improving sales. The real estate developer has reported April-June quarter pre-sales at Rs 500 crore, up 5 percent year-on-year. After a sluggish 2014, its pre-sales trends have improved over the last two quarters driven by the company’s middle-income housing project launch Dream Acres in Bangalore. Non-Bangalore market performance is muted. JP Morgan says that Sobha Developers' FY16 pre-sales guidance of Rs 2600 crore is achievable as launch activity scales up with an additional phase of its Bangalore affordable project and a new project in Chennai. Don't miss: Q1FY16 curtain raiser: Dollar revenue to pinch IT cos again The market is steady as the Nifty is comfortably holding 8500-mark. The 50-share index is up 22.35 points or 0.3 percent at 8544.50. The Sensex is up 74.56 points or 0.3 percent at 28283.32. About 1664 shares have advanced, 571 shares declined, and 111 shares are unchanged. Bank, IT, metal stocks are supporting benchmark indices. Coal India, HDFC, Wipro, SBI and Axis Bank are top gainers in the Sensex. Among the losers are NTPC, HUL, Hindalco, Reliance and Hero Motocorp. Oil rebounded in Asia on bargain-hunting after prices plunged a day earlier as Greek defiance against austerity measures imposed by its creditors sparked turbulence in global markets. Prices rose ahead of an emergency summit on Greece by eurozone leaders in Brussels on Tuesday, after Greek citizens overwhelmingly rejected creditors' demands for further belt-tightening in a referendum. Gold futures prices today fell by 0.35 percent to Rs 26,235 per 10 grams as speculators offloaded their positions amid a weak global trend. Market analysts said the fall in gold futures was mostly attributed to trimming of positions by speculators, tracking a weak trend overseas.
For More Detail Visit Our Site -- http://www.allianceresearch.in/
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