Monday, 31 August 2015

Sensex, Nifty under pressure; HDFC drags, Infosys & TCS up -- 1 Sep 2015

HDFC topped the selling list on Sensex, down 2.4 percent followed by HDFC Bank, L&T, Reliance Industries, SBI, Axis Bank, Lupin, Tata Motors and Bharti with 1-1.9 percent loss.

                                 
The market fell for the second consecutive session today, dragged by banking & financials, capital goods, FMCG and select auto stocks. Weak July core sector data and lower than expected first quarter GDP hurt sentiment. Even weak global cues have an impact on market. The Sensex declined 176.38 points to 26106.71 and the Nifty fell 52.85 points to 7918.45. The BSE Midcap and Smallcap indices lost 0.3-0.7 percent. About 568 shares have advanced, 1139 shares declined, and 60 shares are unchanged on the BSE. HDFC topped the selling list on Sensex, down 2.4 percent followed by HDFC Bank, L&T, Reliance Industries, SBI, Axis Bank, Lupin, Tata Motors and Bharti with 1-1.9 percent loss. However, Infosys, TCS, Sun Pharma and ONGC bucked the trend, up 1-1.5 percent.

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Rupee opens marginally higher at 66.45 per dollar -- 1 Sep 2015

Expect the 66-67/dollar trading range to continue with support coming from the Central Bank, says Ashutosh Raina of HDFC Bank.


The Indian rupee has opened marginally higher at 66.45 per dollar on Tuesday against previous day's closing value of 66.48 a dollar.The USD-INR currency pair has been trading weak in 66-66.50/dollar range with FII outflows continuing to weigh on the currency pair."
"Expect the 66-67/dollar trading range to continue with support coming from the Central Bank," 

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Nifty opens at 7900, Sensex slips over 200 pts; banks drag -- 1 Sep 2015

Banks are dragging with top losers like SBI and HDFC. Vedanta, Tata Steel, Bajaj Auto, Tata Motors and L&T are among laggards while ONGC, GAIL, Maruti, Bharti and Cipla are top gainers in the Sensex. 

                                                 
The market has opened lower on economy data. The Sensex is down 194.50 points or 0.7 percent at 26088.59 and the Nifty is down 63.35 points or 0.8 percent at 7907.95. About 123 shares have advanced, 409 shares declined, and 31 shares are unchanged. Banks are dragging with top losers like SBI and HDFC. Vedanta, Tata Steel, Bajaj Auto, Tata Motors and L&T are among laggards while ONGC, GAIL, Maruti, Bharti and Cipla are top gainers in the Sensex. The country's first quarter (April-June) gross domestic product in fiscal year 2015-16 slipped from 7.5 percent in the previous quarter (January-March) to 7 percent. The GDP growth data is calculated under the new methodology (GDP at market prices) that the government's statistics department moved to last year. Meanwhile on the global front, Asian stocks declined early, following a negative lead from Wall Street and as investors digested the slew of economic data out of China. China's official manufacturing purchasing managers' index (PMI) edged down to 49.7 in August from 50 in July, just below the 50-mark that separates expansion from contraction. The final Caixin/Markit manufacturing purchasing managers' index (PMI) came in at 47.3 in August, above a preliminary reading of 47.1 but down from 47.8 in July. Overnight, US equity markets ended in the red to chalk up their worst month since 2012. The Nasdaq Composite closed down 1.07 percent, while the Dow Jones Industrial Average and S&P 500 dropped 0.69 and 0.84 percent, respectively.

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Nifty & Bank Nifty Fut Levels for today :: 1 Sep 2015


Nifty Future::
Trend::Consolidate
Pivot Level:8009
Support:7951/702/7844
Resistance:8058/8116/8165


Bank Nifty Future::
Trend::Consolidate
Pivot Level:17242
Support:17055/16902/16715
Resistance:17395/17582/17735
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Sunday, 30 August 2015

Nifty above 8000 ahead of GDP data, Sensex flat; GAIL up 2% -- 31 Aug 2015

GAIL, Lupin, Cipla, Sun Pharma and Axis Bank are top gainers while Bharti Airtel, BHEL, Vedanta, Tata Steel and Bajaj Auto are among losers in the Sensex.

                                   
The market is flat as the Sensex is up 15.84 points at 26408.22. The Nifty is up 8.10 points at 8010.05. About 1101 shares have advanced, 961 shares declined, and 89 shares are unchanged. GAIL, Lupin, Cipla, Sun Pharma and Axis Bank are top gainers while Bharti Airtel, BHEL, Vedanta, Tata Steel and Bajaj Auto are among losers in the Sensex. India's first quarter gross domestic product (GDP) will be released in the evening. It is expected to come in at 7.5 percent versus 6.7 percent in the year-ago period. But economists these days look at the GVA, that is the gross value added, which is expected to fall to 6.7 percent from around 7.4 percent in the first quarter of the previous year. Oil prices fell in Asia today, coming under pressure as dealers took profits from huge gains in the previous session and tried to gauge the outlook for the US economy and its taste for crude. Oil has been on a roller-coaster ride in recent weeks over fears of a harder-than-expected slowdown in China, the world's top energy importer, at a time when world markets are awash with supplies.

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Sensex skids over 100 pts, Nifty weak; Vedanta, BHEL down -- 31 Aug 2015

ONGC, Bharti Airtel, Dr Reddy's Labs, Lupin and Wipro while Vedanta, Bajaj Auto, BHEL, TCS and Tata Steel are among laggards in the Sensex.

                     
The market has seen sharp slide in early trade. The Sensex is down 130.74 points or 0.5 percent at 26261.64, and the Nifty slips 36.10 points or 0.4 percent at 7965.85. About 319 shares have advanced, 426 shares declined, and 40 shares are unchanged. ONGC, Bharti Airtel, Dr Reddy's Labs, Lupin and Wipro while Vedanta, Bajaj Auto, BHEL, TCS and Tata Steel are among laggards in the Sensex. The Indian rupee has opened lower by 11 paise at 66.25 per dollar against Friday's close of 66.14 a dollar. Agam Gupta of StandChart Bank said, "We expect the market to keep a close watch on global equities and risk sentiment, especially in light of an increase in the probability of a September rate hike by the US FOMC." "Dips below 66/dollar will continue to attract demand from importers and any spike to the 66.30-66.40/dollar zone should lead to hedging by exporters. We expect a 65.95-66.35/dollar range for the day," he added. The dollar traded near one-week highs on rate-hike remarks by a senior Fed official and generally positive US data . Global cues are mixed with Asian markets kicking off the first trading day of the week lower on expectations of more volatility in Chinese markets.The US market ended narrowly mixed on Friday on the back of a sharp rebound in crude oil and good economic data. US Federal Reserve Vice Chairman has said in an exclusive interview that the Fed has not yet made up its mind about hiking interest rates in September. Fischer said the Fed will watch the non-farm payroll numbers and also if the volatility in the market is settling down.

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Friday, 28 August 2015

Nifty below 8000, Sensex off day's high; Sun Pharma falls -- 28 Aug 2015

HDFC, Sun Pharma, Coal India, Lupin and Cipla are major laggards while ONGC, Vedanta, Bajaj Auto, Infosys and Bharti Airtel are top gainers in the Sensex.


                       
The Sensex is up 118.13 points or 0.4 percent at 26349.32 and the Nifty is up 40.70 points or 0.5 percent at 7989.65. About 1412 shares have advanced, 1151 shares declined, and 104 shares are unchanged.HDFC, Sun Pharma, Coal India, Lupin and Cipla are major laggards while ONGC, Vedanta, Bajaj Auto, Infosys and Bharti Airtel are top gainers in the Sensex.The market is holding gains comfortably. The Sensex is up 271.92 points or 1 percent at 26503.11 and the Nifty is up 85.10 points or 1 percent at 8034.05. About 1613 shares have advanced, 913 shares declined, and 102 shares are unchanged. Vedanta, ONGC, NTPC, Bajaj Auto and GAIL are top gainers in the Sensex. Among the losers are Sun Pharma, Coal India, Lupin, TCS and HUL. Meanwhile, the US economy grew faster than initially thought in the second quarter on solid domestic demand, showing fairly strong momentum that could still allow the Federal Reserve to hike interest rates this year. Gross domestic product expanded at a 3.7 percent annual pace instead of the 2.3 percent rate reported last month, the Commerce Department said on Thursday in its second GDP estimate for the April-June period. The GDP report, which was released in the wake of a global stock market sell-off, should assure investors and cautious Fed officials that the United States is in good shape to weather the growing strains in the world economy.

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Thursday, 27 August 2015

Nifty eyes 8100, Sensex steady; IT, metals, banks surge -- 28 Aug 2015

Vedanta, ONGC, NTPC, Hindalco and Bajaj Auto are top gainers while Lupin, M&M and ITC are laggards in the Sensex.

                     
The market is gushing with some strong gains led by banks, IT, metals and cappital goods. The Sensex is up 392.51 points or 1.5 percent at 26623.70 and the Nifty is up 122.65 points or 1.5 percent at 8071.60. About 1651 shares have advanced, 540 shares declined, and 62 shares are unchanged. Vedanta, ONGC, NTPC, Hindalco and Bajaj Auto are top gainers while Lupin, M&M and ITC are laggards in the Sensex. Crude oil futures rose 2.37 percent to Rs 2,855 per barrel today as speculators widened positions amid a firm trend in Asia. Analysts attributed the rise in crude oil futures to a firming trend in Asian trade today where it extended gains following a 10 percent price surge in the previous session fuelled by strong US economic data.



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Nifty starts Sept series above 8050, Sensex up over 300 pts -- 28 Aug 2015

NGC, Hindalco, Maruti, M&M and Cipla are top gainers in the Sensex.

                                     
After a very weak August series, the market has kickstarted September series with a bang. The Nifty is up 104.75 points or 1 percent at 8053.70 and the Sensex is up 319.03 points or 1 percent at 26550.22. About 201 shares have advanced, 35 shares declined, and 7 shares are unchanged. ONGC, Hindalco, Maruti, M&M and Cipla are top gainers in the Sensex. The Indian rupee opened on a flat note. It was trading at 66.03 per dollar against previous closing of 66.04.
"US GDP data suggests that economic conditions are getting better and are on the right track. Taking cues from this Indian equities will open positively but profit booking at higher level may cap the gain." "Rupee is also expected to trade strong, supported by local equities. We see the range for the rupee between 65.60-66.60/dollar," he added. The dollar retained at one-week highs against a basket of major currencies, having benefited from upbeat US data and as investors continue to cut back on safe-havens such as the yen. Wall Street rallied more than 2 percent on Thursday as strong US economic data and hints that a September interest-rate hike was unlikely fueled optimism that the worst of recent market turmoil was over. The Dow Jones industrial average scored its biggest two-day percentage gain since 2008, while the S&P 500 and Nasdaq Composite racked up their biggest two-day increases since 2009. With Thursday's gains, the S&P has recovered about half of the 11-percent meltdown it suffered over a six-day losing streak caused by fears of slowing growth in China. Asian stocks extended their recovery into the final trading day of the week as investors cheered a second day of gains in Chinese and US markets. China's benchmark Shanghai Composite spiked more than 1 percent in early trade on Friday, building on a 5.4 percent gain in the previous session following news that the People's Bank of China purchased stocks from big firms and requested state-owned banks to buy more yuan on its behalf late on Thursday.

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Rupee opens flat at 66.03 per dollar -- 28 Aug 2015

Rupee is expected to trade strong, supported by local equities. We see the range for the rupee between 65.60-66.60/dollar, 

                                     
The Indian rupee opened on a flat note on Friday. It was trading at 66.03 per dollar against previous closing of 66.04. "Rupee is also expected to trade strong, supported by local equities. We see the range for the rupee between 65.60-66.60/dollar,"

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Wednesday, 26 August 2015

Nifty holds 7900, Sensex firm; pharma, oil stocks lead -- 27 Aug 2015

HDFC, Vedanta, Lupin, Cipla and Tata Steel are top gainers while BHEL, Bajaj Auto, Hero MotoCorp, Coal India and TCS are among laggards.


                         
The market has made a smart recovery led by pharma and oil stocks. The Sensex is up 360.03 points or 1.4 percent at 26074.69 and the Nifty is up 115.50 points or 1.5 percent at 7907.35. About 1653 shares have advanced, 467 shares declined, and 61 shares are unchanged. HDFC, Vedanta, Lupin, Cipla and Tata Steel are top gainers while BHEL, Bajaj Auto, Hero MotoCorp, Coal India and TCS are among laggards. Brent crude climbed by more than USD 1 a barrel on Thursday on an unexpected fall in US crude inventories and a rally in global equity markets, but a stronger dollar capped gains. In other financial markets, a rebound on Wall Street helped soothe investors' tattered nerves, while the dollar rallied as risk aversion eased. Regaining confidence after a sharp rebound on Wall Street where investors had been hit by worries over China's faltering economy, London copper futures also strengthened on Thursday. Data released on Wednesday showed US non-defense capital goods orders excluding aircraft, which is a proxy for business investment, increased 2.2 percent in July, the biggest rise since June last year and handily beating expectations.

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Stock Market News For Today -- 27 Aug 2015

Tracking gains from Wall Street, the S&P BSE Sensex surged over 300 points to reclaim its crucial psychological level of 26000, led by gains in Infosys, ICICI Bank, ITC, HDFC and RIL.The 50-share Nifty index rose over 100 points to reclaim its crucial psychological level of 7900, supported by gains in FMCG, Pharma, IT, banks, realty and oil & gas stocks. 


                             
Citi downgrades Maruti Suzuki to "neutral" from "buy"Sees downside risks to earnings driven by heady valuations,moderate domestic demand and dissipating FX tailwindsStock has 44 buy and 5 hold ratings - Eikon data.Trades at 12-month forward P/E of 20.8x vs 18x of rivals - Eikon data.Separately, sentiment remains underpinned on company's plan to raise FII investment limit in its AGM on Sept. 4.


The market has opened higher riding high on strong global cues. The Sensex is up 392.57 points or 1.5 percent at 26107.23 and the Nifty is up 127.90 points or 1.6 percent at 7919.75. About 461 shares have advanced, 64 shares declined, and 14 shares are unchanged.China markets were also higher today with benchmark index Shanghai Composite trading 1.6 per cent higher. In the previous six days, China shares slumped over 22 per cent, pulling down markets across the globe.


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Sensex up over 300 pts, Nifty hits 7900; ONGC, M&M gain 3% -- 27 Aug 2015

ONGC, M&M, Bharti Airtel, Hindalco and Bajaj Auto are top gainers in the Sensex.

                   
The market has opened higher riding high on strong global cues. The Sensex is up 392.57 points or 1.5 percent at 26107.23 and the Nifty is up 127.90 points or 1.6 percent at 7919.75. About 461 shares have advanced, 64 shares declined, and 14 shares are unchanged. ONGC, M&M, Bharti Airtel, Hindalco and Bajaj Auto are top gainers in the Sensex. The Indian rupee gained past 66 a dollar in early trade following rally in global equity markets. The currency appreciated by 20 paise to open at 65.94 per dollar against previous day's closing value of 66.14 a dollar.

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Rupee gains 20 paise; opens at 65.94 per dollar -- 27 Aug 2015

The USD-INR pair is expected to trade today in a range of 65.80-66.20/dollar, says Mohan Shenoi of Kotak Mahindra Bank.

                       
The Indian rupee gained past 66 a dollar in early trade Thursday following rally in global equity markets. The currency appreciated by 20 paise to open at 65.94 per dollar against previous day's closing value of 66.14 a dollar."The USD has once again gained lost ground. The USD-INR pair is expected to trade today in a range of 65.80-66.20/dollar," 

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Sensex down 318 pts; Nifty ends below 7800, F&O expiry eyed -- 26 Aug 2015

Housing finance company HDFC topped the selling list on Sensex, down 3.8 percent followed by Infosys, ICICI Bank, Larsen & Toubro, State Bank of India, Sun Pharma, ITC, M&M, ONGC, Hero Motocorp and Bharti Airtel with 1-3.5 percent losses.

                                   
Equity benchmarks completely wiped out previous day's gains on Wednesday, tracking sell-off in global stock markets despite China rate cut and ahead of expiry of August derivative contracts. The rupee was rangebound against US dollar. Benchmark indices failed to hold psychological levels due to selling pressure in banking & financials and healthcare stocks. The 30-share BSE Sensex cracked 317.72 points or 1.22 percent to 25714.66 and the 50-share NSE Nifty ended below the 7800-mark, down 88.85 points or 1.13 percent to 7791.85. The BSE Midcap also lost ground, down 0.8 percent. Raamdeo Agarwal of Motilal Oswal feels the market may not move much this year due to pressure on commodity stocks. However, this is a good time to buy into quality stocks, he said. Globally, Asian markets closed mixed despite the liquidity easing measures by China. Shanghai Composite index ended lower by 1.3 percent after a choppy session and Hang Seng lost 1.5 percent while Nikkei rallied 3.2 percent. European markets were down 1 percent each (at 16 hours IST). Commodities were rangebound as the dollar gained marginally after China's easing measures. NYMEX crude was up 0.1 percent at USD 39.35 a barrel and and Brent crude rose 0.3 percent to USD 43.34 a barrel while gold fell 0.6 percent to USD 1,131 an ounce. Back home, housing finance company HDFC topped the selling list on Sensex, down 3.8 percent followed by Infosys, ICICI Bank, Larsen & Toubro, State Bank of India, Sun Pharma, ITC, M&M, ONGC, Hero Motocorp and Bharti Airtel with 1-3.5 percent losses.

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Tuesday, 25 August 2015

Sensex recovers 400 pts from day's low, Nifty above 7900 -- 26 Aug 2015

Asian markets mood was lifted by the liquidity easing measures by China despite negative handover from US. Nikkei and Shanghai gained nearly 3 percent.

                                           
The market recouped all its early losses amid consolidation. The Sensex recovered nearly 400 points from day's low, to trade at 26082.20, up 49.82 points. The Nifty rose 27.55 points to 7908.25. The broader markets like BSE Midcap and Smallcap gained 0.5-1 percent. About 1322 shares have advanced, 784 shares declined, and 71 shares are unchanged on the Bombay Stock Exchange. Asian markets mood was lifted by the liquidity easing measures by China despite negative handover from US. Nikkei and Shanghai gained nearly 3 percent. Lupin gained 3 percent as it received USFDA nod for anti-inflammatory drug Diclofenac Sodium. Additionally, Credit Suisse said that Lupin has raised prices in its branded us portfolio by 10 to 100 percent on Antara, Alinia and Suprax, which can add 2 percent to FY17 EPS. Infosys rebounded, up 0.8 percent as Jefferies upgraded stock to a buy from underperform and raised target price to 1,260 from Rs 900 as it expects FY16 revenue growth at the higher end of guidance and EBIT could be closer to the top end of 24-26 percent range. BHEL dropped 2 percent after Goldman Sachs downgraded stock to sell from neutral earlier with a target of Rs 207 per share as it believes that the new ordering momentum is unsustainable. In new listings today, Power Mech Projects has a subdued listing, but recovered 10 percent from day's low. Management told CNBC-TV18 that they expect revenue growth of 25 percent to Rs 1,600 crore in FY16.

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Sensex sinks 300 pts, Nifty below 7850 on China volatility -- 26 Aug 2015

Vedanta, BHEL, Tata Motors, Hero Motocorp, Infosys and HCL Tech fell 2.5-3.6 percent. However, Wipro, Tata Power and Asian Paints gained more than half a percent.

                                         
The market retreated badly in early trade Wednesday following weakness on Wall Street and volatility in China despite rate cut by People's Bank of China.The Sensex fell 337.22 points or 1.30 percent to 25695.16 and the Nifty lost 87.65 points or 1.11 percent to 7793.05. About 246 shares have advanced, 661 shares declined, and 35 shares are unchanged on the BSE. Vedanta, BHEL, Tata Motors, Hero Motocorp, Infosys and HCL Tech fell 2.5-3.6 percent. However, Wipro, Tata Power and Asian Paints gained more than half a percent. The Indian rupee has opened lower by 12 paise at 66.22 per dollar on Wednesday against previous close of 66.10. Ashutosh Raina of HDFC Bank said the People's Bank of China (PBoC) reduced the benchmark interest rates by 25 bps and RRR by 50 bps to stem the turbulence in the Chinese and global markets. Some smooth action by the RBI to support the currency and limit the volatility helped the USD-INR pair to close near 66/dollar figure, he added. He expects the USD-INR pair to trade in the 65.50-66.50/dollar range in the short term. On the global front, Asian markets were mixed in trade today. China's Shanghai remained recovered to trade marginally in green despite rate cut by People's Bank of China on Tuesday evening. China's central bank has lowered its one-year lending rate by 25 basis points to 4.6 percent effective August 26. It also cuts deposit rate by 25 bps to 1.75 percent effective August 26, while cutting banks' reserve requirement ratio by 50 bps effective September 6. However, Wall Street closed lower in a late plunge overnight. Dollar gained against a basket of major currencies, recovered from seven-month lows against the safe-haven yen and euro.

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Rupee retreats; opens lower by 12 paise at 66.22 per dollar -- 26 Aug 2015

We expect the USD-INR pair to trade in the 65.50-66.50/dollar range in the short term .

                                       
The Indian rupee has opened lower by 12 paise at 66.22 per dollar on Wednesday against previous close of 66.10.
He expects the USD-INR pair to trade in the 65.50-66.50/dollar range in the short term.Dollar gained against a basket of major currencies, recovered from seven-month lows against the safe-haven yen and euro.

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Monday, 24 August 2015

Sensex, Nifty gain amid volatility; Shanghai falls further-- 25 Aug 2015

Asian markets barring China remained strong, led by relief rally. Taiwan Weighted rallied 3.4 percent followed by Hang Seng, Kospi and Straits Times with 1.6 percent upside. Nikkei rose 0.9 percent.

                       
Equity benchmarks clawed back again amid volatility ahead of expiry of August Nifty derivative contracts (on Thursday). The Sensex gained 142.48 points at 25884.04 and the Nifty rose 41.35 points to 7850.35. The BSE Midcap also recovered, up half a percent but Smallcap remained under pressure, down 0.4 percent. The market breadth was weak as about 718 shares have advanced against 1237 shares declined on the Bombay Stock Exchange. Coal India, Axis Bank, Vedanta, Tata Steel, Bajaj Auto, Cairn India, Yes Bank and BPCL topped the buying list, up 2-5 percent. However, NTPC, GAIL, HDFC, Ambuja Cements, Bharti Airtel and Hero Motocorp lost 2-5 percent. Asian markets barring China remained strong, led by relief rally. Taiwan Weighted rallied 3.4 percent followed by Hang Seng, Kospi and Straits Times with 1.6 percent upside. Nikkei rose 0.9 percent. However, China's Shanghai Composite index fell 4.3 percent amid sharp fluctuations, but was off the day's low of 3,004.1. The bourse had plummeted 6 percent at the start of trade to hit its lowest level since December 2014.


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Sensex reclaims 26000, Nifty hits 7900; banks, metals shine -- 25 Aug 2015

Hindalco, Tata Steel, Vedanta, SBI, ICICI Bank, Yes Bank and Tech Mahindra were early gainers, up 2.5-4.5 percent. However, NMDC, Dr Reddy's Labs and NTPC saw some selling pressure.

                                   
The market recovered sharply amid consolidation in early trade Tuesday, backed by short covering after yesterday's steep collapse led by global rout. The Sensex gained 308.79 points or 1.20 percent at 26050.35 and the Nifty rose 94.30 points or 1.21 percent to 7903.30. About 488 shares have advanced, 371 shares declined, and 33 shares are unchanged on the BSE. Hindalco, Tata Steel, Vedanta, SBI, ICICI Bank, Yes Bank and Tech Mahindra were early gainers, up 2.5-4.5 percent. However, NMDC, Dr Reddy's Labs and NTPC saw some selling pressure. The Indian rupee has rebounded in early trade Tuesday on hopes of likely recovery in equity markets after yesterday's global carnage. The currency gained 10 paise to open at 66.55 per dollar today against previous day's closing value of 66.65 a dollar. It extended its recovery to 66.40 a dollar, up 23 paise in morning trade. Pramit Brahmbhatt of Veracity expects the rupee to trade weak tracking the local equity movement though Reserve Bank of India (RBI) is expected to support the rupee at lower levels. According to hitm, the range for rupee today is seen between 66-67.20/dollar. The US dollar fell more than 1.5 percent against major world currencies. The dollar index slipped below 94 mark. with the euro near 1.15 and the yen stronger near 119 versus the greenback.

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Rupee rebounds, opens higher by 10 paise at 66.55/$ -- 25 Aug 2015

The range for rupee today is seen between 66-67.20/dollar, says Pramit Brahmbhatt of Veracity.

                             
The Indian rupee has rebounded in early trade Tuesday on hopes of likely recovery in equity markets after yesterday's global carnage. The currency gained 10 paise to open at 66.55 per dollar today against previous day's closing value of 66.65 a dollar. It extended its recovery to 66.40 a dollar, up 23 paise in morning trade. The US dollar fell more than 1.5 percent against major world currencies. The dollar index slipped below 94 mark. with the euro near 1.15 and the yen stronger near 119 versus the greenback.

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Sunday, 23 August 2015

Sensex, BankNifty, Midcap fall over 3%; Tata Motors down 6% -- 24 Aug 2015

The market breadth was pathetic as about eight shares declined for every share advancing on the Bombay Stock Exchange.

                                       
The market continued to be controlled by bears as the frontline indices as well as major sectoral indices like Bank Nifty fell over 3 percent. Worries over Chinese economy dented sentiment across the globe. The 30-share BSE Sensex dropped 854.57 points to 26511.50 and the 50-share NSE Nifty slipped 264.30 points to 8035.65. The broader markets, too, saw red tick as the BSE Midcap and Smallcap indices declined 3.3 percent and 3.7 percent, respectively. The market breadth was pathetic as about eight shares declined for every share advancing on the Bombay Stock Exchange. Timothy Moe, Goldman Sachs said growth risks, reduced policy confidence fueled the equity sell-off. Deteriorating data since June has hurt growth expectations, he added. Bank Nifty dropped over 3 percent as ICICI Bank, HDFC Bank, State Bank of India, Axis Bank, Punjab National Bank and Bank of Baroda crashed 3-5 percent. Tata Motors topped the selling list on Sensex, down 6 percent as likely slowdown in Chinese economy may impact luxury car sales growth. Jaguar Land Rover gets 20 percent sales growth from China.

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Sensex falls 900 pts, Nifty breaks 8000 on global carnage -- 24 Aug 2015


The Indian rupee has touched a fresh two-year low in early trade Monday following sharp sell-off in global markets as investors worldwide worried about Chinese economy.


                                 
The market has opened with big gap down on carnage across the globe as investors worried over Chinese economic growth. The Sensex fell 883.55 points or 3.23 percent to 26482.52 and the Nifty dropped 244 points or 2.94 percent to 8055.95. The Indian rupee has touched a fresh two-year low in early trade Monday following sharp sell-off in global markets as investors worldwide worried about Chinese economy. The currency has opened at 66.47 per dollar, the lowest level for the first time since September 2013, down 65 paise compared to 65.83 a dollar seen at Friday's close. Agam Gupta, StanChart Bank feels the USD-INR will open higher in-line with other emerging market currencies. He expects the USD-INR to open at Rs 66.25-66.30/USD and trade in a Rs 66.10-66.60/USD range. "We will keep an eye on supply of USD from local government banks but the move in global markets will remain key for the pair at the moment," Gupta said. The dollar tumbled against the euro and the yen as strikingly amid China growth worries and as hopes dim that the Federal Reserve will raise US interest rates next month.Major markets around the world suffered bruising losses as investors worldwide became increasingly concerned about Chinese economy. All of the main US indices closed down more than 3 percent on Friday, the fourth consecutive day of falls. The Dow Jones Industrial Average closed down 531 points, or 3.1 percent, to 16,460 – the S&P 500 lost 3.2% to 1,971 and the Nasdaq closed down 3.5% to 4,706. Major markets around the world also suffered bruising losses as new data suggested Chinese factory activity had slowed to levels last seen in 2009 and added to investors’ fears about the country’s economy since Beijing devalued its currency last week. US oil prices also crashed down to below $40 a barrel a one point, a level not seen since the financial crisis. The dollar fell to a two-month low against the euro and added to speculation that the Federal Reserve may now not raise US interest rates next month, as had been widely expected by economists. The Dow Jones index has lost about 10% from its record closing high on 19 May, mean it is entering a correction – a fall of at least 10% from a recent peak. The Dow has not fallen into correction territory since October 2011. Friday’s fall takes the Dow to its sharpest weekly decline in four years. Stocks had already fallen sharply in Europe, Asia and Australia. In London, the FTSE 100 closed down 180 points, or 2.8%, to 6,187 – the lowest it has been this year and the biggest one-day fall since October 2014. The UK index closed down for nine straight sessions – its longest losing streak since 2011. The FTSE 100 has fallen by 5.6% this week, Last week, the Dow Jones in the US fell 6%, while the UK's FTSE 100 posted its biggest weekly loss this year of 5%. Investors are concerned about a slowdown in China and the knock-on effects for the global economy. Both France's Cac 40 and Germany's Dax indexes lost 7% of their value last week.

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Rupee hits fresh two-year low, down 65 paise to 66.47/$ -- 24 Aug 2015

The currency has opened at 66.47 per dollar, the lowest level for the first time since September 2013, down 65 paise compared to 65.83 a dollar seen at Friday's close.

               
The Indian rupee has touched a fresh two-year low in early trade Monday following sharp sell-off in global markets as investors worldwide worried about Chinese economy. The currency has opened at 66.47 per dollar, the lowest level for the first time since September 2013, down 65 paise compared to 65.83 a dollar seen at Friday's close.He expects the USD-INR to open at Rs 66.25-66.30/USD and trade in a Rs 66.10-66.60/USD range.

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


Nifty Future::
Trend::Consolidate
Pivot Level:8284
Support:8244/8182/8142
Resistance:8346/8386/8448


Bank Nifty Future::
Trend::Consolidate
Pivot Level:18017
Support:17908/17745/17636
Resistance:18180/18289/18452
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Friday, 21 August 2015

An Overview of Commodity Market Trading Strategy 22 Aug 2015

Major Aspect that will affect Commodity:
  1. Commodities Market is out of NSEL Shadow
  2. RBI set to permit FIIs, Banks to Trade in Commodity Market
  3. Common clearance for Commodity Exchanges in Offing


  • Commodities Market is out of NSEL Shadow
In MCX soon after the deception had been detected, to keep it out of the shadow of the crisis in NSEL, promoted by the founder-company of MCX. However, there was an issue of poise in the exchange business as the NSEL disaster followed the annoyance of commodities transaction tax. Now, volumes have grown and I can say the NSEL disaster impact is no longer there and only the impact of the CTT remains. 
  • RBI set to permit FIIs, Banks to Trade in Commodity Market
The Reserve Bank of India is set to give theoretically endorsement for foreign institutional investors and banks to contribute in commodity markets, say sources in the know. “The matter is in the ending stage of internal appraisal and an in-principle approval is just a matter of time,” said a source.
The development comes at a time when the country’s commodity exchanges are anguish a weighty drop in turnover. 

  • Common clearance for Commodity Exchanges in Offing
In a bid to boost precision and build up the clearing method for commodity exchanges the government of India has proposed for a common clearance scheme for all commodity exchanges. As per a release by the government it would cut the transaction cost for market participants and support the risk management systems. The government in June this year had constituted a working group to modernize the clearing system for commodity exchanges.

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Thursday, 20 August 2015

Sensex, Nifty continue to bleed; midcaps fall sharply -- 21 Aug 2015

Midcaps see sharp losses with the likes of Mastek, Motherson Sumi, Central Bank seeing pressure. Vedanta, Tata Motors, Hero MotoCorp, GAIL and SBI are among major losers while Infosys, Sun Pharma, Lupin, TCS and HUL are top gainers.

                         
The market continues to bleed with the Nifty below 8250. The 50-share index is down 120.70 points or 1.4 percent at 8252.05. The Sensex is down 398.86 points or 1.4 percent at 27208.96. About 436 shares have advanced, 1789 shares declined, and 65 shares are unchanged. Midcaps see sharp losses with the likes of Mastek, Motherson Sumi, Central Bank seeing pressure.  Vedanta, Tata Motors, Hero MotoCorp, GAIL and SBI are among major losers while Infosys, Sun Pharma, Lupin, TCS and HUL are top gainers. Rupee falls further testing 66 levels. Oil is headed for its eighth straight weekly decline in Asia, as sharp falls in equities added to worries lacklustre global economic growth will hurt energy demand in an oversupplied market.  Asian shares fell continuing a global sell-off in equities that hit Wall Street overnight and saw the Dow reach its lowest level this year as concerns about the health of the world economy snowballed. Analysts fear a slowdown in China, the world's second-biggest economy, could drag on global growth and curb energy demand bad news for oil prices at a time when markets are already oversupplied with crude.

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MCX Gold December contract gains 1.4% -- 21 Aug 2015

Gold prices on MCX were trading higher on Friday. MCX Gold December contract was trading at Rs 27454 up Rs 381, or 1.41 percent.

                                         
At 10:52 hrs MCX GOLD October contract was trading at Rs 27241 up Rs 392, or 1.46 percent. The GOLD rate touched an intraday high of Rs 27260 and an intraday low of Rs 27139. So far 2748 contracts have been traded. GOLD prices have moved up Rs 1088, or 4.16 percent in the October series so far. MCX GOLD December contract was trading at Rs 27454 up Rs 381, or 1.41 percent. The GOLD rate touched an intraday high of Rs 27470 and an intraday low of Rs 27346. So far 76 contracts have been traded. GOLD prices have moved up Rs 355, or 1.31 percent in the December series so far.


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Nifty breaks 8250, Sensex crashes over 400 pts; banks dive -- 21 Aug 2015

SBI, Bharti, Vedanta, Axis Bank and L&T are major laggards in the Sensex.

                                             
The market has fallen sharply at opening. The Sensex is down 416.41 points or 1.5 percent at 27191.41 and the Nifty is down 129.80 points or 1.5 percent at 8242.95. The 50-share index is at a 2 month low. About 135 shares have advanced, 847 shares declined, and 22 shares are unchanged. SBI, Bharti, Vedanta, Axis Bank and L&T are major laggards in the Sensex. The Indian rupee continued its downtrend, hitting a fresh two-year low. The currency has opened at 65.73 per dollar, down 19 paise compared to previous day's closing value of 65.54 per dollar."The rupee is expected to depreciate as overnight US equities traded weak and closed in red. Negative sentiment in the market will also force local equity to open weak as Asian markets have already opened on a weak note. The range for rupee is seen between 65-66/dollar today." The dollar fell against the major currencies as bets dwindle on the Federal Reserve raising US interest rates next month for the first time in nearly a decade. Most Asian equity markets slid to multi-month lows, tracking the hefty losses in offshore markets overnight, and as a survey on China's manufacturing sector slumped to a six-and-a-half-year low. Wall Street was hammered overnight, with the S&P 500 erasing gains for the year and ending at a more-than-six-month low. The Dow Jones Industrial Average and the Nasdaq Composite plunged 2.06 and 2.82 percent, respectively, as investors weighed continued uncertainty about the timing of a rate hike and global growth concerns led by the slowdown in China.

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Nifty & Bank Nifty Fut Levels for today :: 21 Aug 2015



Nifty Future::
Trend::Consolidate
Pivot Level:8417
Support:8329/8269/8181
Resistance:8477/8565/8625

Bank Nifty Future::
Trend::Consolidate
Pivot Level:18430
Support:18118/17927/17615
Resistance:18621/18933/19124
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Rupee slips further; opens lower by 19 paise at 65.73/USD - 21 Aug 2015

The range for rupee is seen between 65-66/dollar today, 

                                       
The Indian rupee continued its downtrend on Friday, hitting a fresh two-year low. The currency has opened at 65.73 per dollar, down 19 paise compared to previous day's closing value of 65.54 per dollar.e dollar fell against the major currencies as bets dwindle on the Federal Reserve raising US interest rates next month for the first time in nearly a decade.


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Nifty breaches 8400, Sensex slips over 200pts; auto, IT dip -- 20 Aug 2015

Lupin, ITC, Sun Pharma, HUL and Dr Reddy's Labs are still top gainers while Vedanta, Infosys, Tata Steel, BHEL and GAIL are among laggards in the Sensex.

                                   
The market is losing further as metals, IT, banks, infra and auto stocks are under heavy selling pressure. The Sensex is down 165.65 points or 0.6 percent at 27765.99 and the Nifty is down 70.30 points or 0.8 percent at 8424.85. About 791 shares have advanced, 1795 shares declined, and 103 shares are unchanged. Lupin, ITC, Sun Pharma, HUL and Dr Reddy's Labs are still top gainers while Vedanta, Infosys, Tata Steel, BHEL and GAIL are among laggards in the Sensex. Gold rose to its highest in nearly five weeks on Thursday after minutes from the Federal Reserve's policy meeting last month signalled that a hike in US interest rates in September may be unlikely. Fed officials worried that lagging US inflation and a weak global economy posed too big a risk to commit to a "lift off" on rates, buoying gold that had been out of favour amid an imminent tightening in US monetary policy. The precious metal is on track for a second weekly gain after ending its longest retreat since 1999, having benefited last week from uncertainty posed by China's surprise devaluation of its currency.


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Nifty struggles below 8500; Tata Steel, GAIL, ONGC laggards -- 20 Aug 2015

Lupin, ITC, Sun Pharma, HUL and Dr Reddy's Labs are top gainers in the Sensex while Infosys, Vedanta, Tata Steel, GAIL and ONGC are among laggards.



                                 
The market is consolidating for another day. The Sensex is down 44.66 points at 27886.98 and the Nifty is down 27.50 points at 8467.65. About 960 shares have advanced, 1547 shares declined, and 102 shares are unchanged. Lupin, ITC, Sun Pharma, HUL and Dr Reddy's Labs are top gainers in the Sensex while Infosys, Vedanta, Tata Steel, GAIL and ONGC are among laggards. Gold prices rose Rs 174 to Rs 26,370 per 10 grams in futures trading today as speculators widened positions amid a firming trend overseas. Marketmen said a firming trend in the global markets where gold advanced the most in three months as prospects dimmed for a US interest rate increase in September, boosting the metal's allure, influenced gold futures. Oil prices slid to a fresh six and a half year low in Asia , approaching the key USD 40 a barrel level after a surprise rise in US inventories added to concerns of a supply glut.



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Wednesday, 19 August 2015

Sensex, Nifty under pressure; metals drag, pharma rises -- 20 Aug 2015

Vedanta, Tata Steel, Hindalco, Infosys and ONGC are among laggards while Lupin, Sun Pharma, Dr Reddy's Labs, Bharti Airtel and HUL are top gainers.

                                 
The market is slipping away dragged by metal stocks. The Nifty manages to hold 8450 level. The 50-share index is down 36.65 points or 0.4 percent at 8458.50 and the Sensex is down 90.46 points or 0.3 percent at 27841.18. About 771 shares have advanced, 1160 shares declined, and 62 shares are unchanged. Vedanta, Tata Steel, Hindalco, Infosys and ONGC are among laggards while Lupin, Sun Pharma, Dr Reddy's Labs, Bharti Airtel and HUL are top gainers. Oil markets are weak following sharp falls the previous session, with US contracts hovering slightly above USD 40 per barrel, levels not seen since the credit crunch of 2009, and globally traded Brent tested support at USD 47.


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Nifty above 8450, Sensex flat; Lupin, Sun Pharma gain 3-4% -- 20 Aug 2015

Vedanta, Tata Steel, GAIL, ONGC and Hero Motocorp are major losers while Lupin, Sun Pharma, Bharti, Dr Reddy's Labs and Cipla are top gainers in the Sensex.

                                             
The Sensex is down 9.74 points at 27921.90 and the Nifty is down 10.55 points at 8484.60. About 849 shares have advanced, 806 shares declined, and 66 shares are unchanged.Vedanta, Tata Steel, GAIL, ONGC and Hero Motocorp are major losers while Lupin, Sun Pharma, Bharti, Dr Reddy's Labs and Cipla are top gainers in the Sensex.The Sesnsex and Nifty were under pressure in early trade Thursday. The Sensex is down 88.21 points at 27843.43, and the Nifty down 29.70 points at 8465.45. About 352 shares have advanced, 445 shares declined, and 44 shares are unchanged. Sun Pharma, Lupin, Bharti Airtel, Dr Reddys's Lab, Cipla, BPCL, Tech Mahindra are the top gainers, while Hero Motocorp, Tata Steel, TCS, NMDC are top losers. Shares of Amtek Auto extended their slide, down nearly 30 percent with brokers citing unwinding of F&O positions as the reason. Amtek group company Metalyst Forging was down 10 percent. The Indian rupee gained in the early trade. It has opened higher by 10 paise at 65.17 per dollar against previous close of 65.27. Mohan Shenoi of Kotak Mahindra Bank said, "The dollar fell against most currencies on the back of dovish July FOMC minutes. Lower than expected inflation data in US has cast doubts about Fed rate hike next month." The dollar fell after minutes from a Federal Reserve policymakers meeting delivered no solid signals on when the era of near-zero rates will end. Meanwhile, Asian stocks headed south in early trade, tracking offshore losses and as investors weighed concerns about the stability of China's economy. Wall Street fell in choppy trading overnight, as minutes from the latest Federal Reserve meeting showed that conditions for a rate increase are "approaching" but not at hand. This caused markets to question the possibility of a tightening of US monetary policy next month.

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Rupee gains, opens at 65.17 per dollar ,-- 20 Aug 2015

The USD-INR pair is expected to trade today in a range of 64.90-65.20/dollar, says Mohan Shenoi of Kotak Mahindra Bank.

                             
The Indian rupee gained in the early trade on Thursday. It has opened higher by 10 paise at 65.17 per dollar against previous close of 65.27."Stability of Yuan at lower levels after a bout of near 5 percent depreciation has helped Asian currencies and rupee to stem further depreciation against dollar. The USD-INR pair is expected to trade today in a range of 64.90-65.20/dollar,"

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Nifty & Bank Nifty Fut Levels for today :: 20 Aug 2015


Nifty Future::
Trend::Consolidate
Pivot Level:8488
Support:8442/8380/8334
Resistance:8550/8596/8658


Bank Nifty Future::
Trend::Consolidate
Pivot Level:18739
Support:18641/18552/18454
Resistance:18828/18926/19015
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Tuesday, 18 August 2015

Sensex firm, Nifty consolidates; Reliance up, SBI falls -- 19 Aug 2015

Sun Pharma, Cipla, Lupin, Wipro and Reliance are top gainers while Hindalco, SBI, HDFC, Bharti and BHEL are losers in the Sensex.

                   

 Key indices recovered from morning lows to trade marginally higher with the Nifty above the 8450 mark led by gains in pharma, consumer durables and realty stocks. The Sensex is up 90.83 points at 27922.37 and the 50-share index is up 24.45 points at 8491. About 1386 shares have advanced, 851 shares declined, and 88 shares are unchanged. Sun Pharma, Cipla, Lupin, Wipro and Reliance are top gainers while Hindalco, SBI, HDFC, Bharti and BHEL are losers in the Sensex. Oil prices fell in Asia, giving up meagre gains in the previous session as investors await a US inventory report to gauge demand in the world's top economy. Analysts said prices were unlikely to stage a sustained rally because the market remains awash with supplies from the Organization of the Petroleum Exporting Countries (OPEC), led by Saudi Arabia. Oil traders are also watching a report on US crude inventories in the week ending August 14 due later Wednesday to measure demand in the world's biggest economy and large producer of shale oil.

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Sensex, Nifty choppy; Majesco debuts at Rs 316, Cipla up 2% -- 19 Aug 2015

Majesco, the insurance subsidiary of Mastek, has opened at Rs 316 against previous close of Rs 438.05 on the National Stock Exchange. The stock rallied 5 percent to Rs 331.80 compared to its opening price.


                                 
The market continued to see selling pressure amid consolidation. The Sensex fell 31.86 points to 27799.68 and the Nifty declined 15.35 points to 8451.20, dragged by FMCG, HDFC twins, capital goods and select autos. However, technology and pharma gained strength on further weakness in rupee. The broader markets recouped early losses, up marginally. About 1068 shares have advanced, 792 shares declined, and 68 shares are unchanged on the Bombay Stock Exchange. Majesco, the insurance subsidiary of Mastek, has opened at Rs 316 against previous close of Rs 438.05 on the National Stock Exchange. The stock rallied 5 percent to Rs 331.80 compared to its opening price. Cipla and Sun Pharma topped the buying list, up more than 2 percent followed by ICICI Bank, Lupin, Reliance Industries, Infosys, Wipro, Dr Reddy's Labs, Tata Motors, TCS and Vedanta with 0.2-1 percent upside. However, Bharti Airtel plunged nearly 3 percent. HDFC Bank, HDFC, ITC, Larsen & Toubro, Axis Bank, M&M, HUL, Hindalco and Coal India declined 0.5-1 percent.


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Sensex, Nifty open tepid; rupee at 2-yr low, pharma up -- 19 Aug 2015

The Indian rupee has touched a fresh two-year low in early trade. It has opened lower by 10 paise at 65.40 per dollar on Wednesday against Monday's closing value of 65.32 a dollar. The currency market was shut on Tuesday.

                                                   
It is a quite start of trade as global markets see sharp cuts. The Sensex is down 10.32 points at 27821.22 and the Nifty is up 0.75 points at 8467.30. About 359 shares have advanced, 207 shares declined, and 34 shares are unchanged. ONGC, Hero, SBI, Tata Steel and Coal India are major laggards while Dr Reddy's Labs, Cipla, Wipro, Infosys and Sun Pharma are top gainers in the Sensex. The Indian rupee has touched a fresh two-year low in early trade. It has opened lower by 10 paise at 65.40 per dollar on Wednesday against Monday's closing value of 65.32 a dollar. The currency market was shut on Tuesday. Ashutosh Raina of HDFC Bank said, "The impact of the Chinese Yuan depreciation is still being felt across global markets. The USD-INR currency pair has been no exception with the pair finally breaching the psychological 65/dollar figure tracking other Asian peers." The dollar rose, getting a lift from data showing US housing starts neared an eight-year peak, which raised expectations that the Fed will raise interest rates as soon as next month. China stocks continued their sell-off following a whopping 6 percent plunge in the previous session, underscoring that it won't be an easy return to good times for the country's equity market. The market plunge yesterday was attributed to traders cutting back on expectations of more stimulus for the economy - on the back of better housing market data – and support for the stock market – after the China Securities Finance Corporation said it would not intervene further in the market unless there was unusual volatility and systemic risk. Tumble in Chinese shares and weak earnings from Walmart pressured US stocks and copper prices saw six year lows. Investors will look to US inflation data and minutes of last month's Federal Reserve monetary policy meeting on Wednesday, as they seek for further clues as to when the Fed will begin raising interest rates. Oil prices fell again after a brief rise in the previous session, as the United States enters the lower demand autumn season and Asia's leading economies slow down.

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