Wednesday, 30 September 2015

Sensex surges over 250 points on firm global cues, Nifty above 8,000; HCL Tech down 10% -- 1 Oct 2015

Domestic equity markets opened in green tracking firm global cues. Sensex opened 189.36 points up at 26,344.19.


                                   
 Sensex was up 271.81 points at 26,426.64. Nifty was up 45 points at 7,993.05. In the 50-share index, Vedanta, GAIL, 
Infosys, Adani Ports and Sun Pharma were up between 1.50 per cent and 2 per cent. On the other hand, HCL Tech, Tech Mahindra, Idea, Bhel and Tata Motors fell between 0.10 per cent and 14.50 per cent.

Domestic equity markets opened in green tracking firm global cues. Sensex opened 189.36 points up at 26,344.19. Nifty opened 43.15 points up at 7,992.05.
Shares of HCL Technologies will remain in focus on Thursday. For 1QFY2016, the company has given a pre-quarter guidance indicating that revenues to be reported in US dollar to have an adverse impact of 80 basis points on account of sharp depreciation of multiple currencies against US dollar. HCL Tech shares were down around 10 per cent in the opening trade.
Asian stocks rose on Thursday, drawing strength from overnight gains in global equities markets following their weakest quarter in four years, and a China factory activity survey that came in slightly better than initially expected.
The final Caixin/Markit China Manufacturing Purchasing Managers’ Index (PMI) for September was slightly down from August but was a touch higher than a preliminary reading, data released on Thursday showed.
Back home, Sensex and Nifty gained over 1 per cent on Wednesday following upbeat global markets. The sentiments also got a boost after the Reserve Bank of India went for a bigger-than-expected rate cut on Tuesday. Sensex closed 376.17 points up at 26,154.83. Nifty advanced 105.60 points at 7,948.90.
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Sensex, Nifty may open higher on firm global markets -- 1 Oct 2015

The BSE Sensex and NSE Nifty are likely to open in green on Thursday tracking SGX Nifty and firm global markets.


                             
The BSE Sensex and NSE Nifty are likely to open in green on Thursday tracking SGX Nifty and firm global markets. At 8.19 am (IST), SGX Nifty was up 0.74 per cent, or 59.50 points, at 8,035.50.
Asian stocks edged up on Thursday as global equities found breathing space after their worst quarter in four years, although caution over China Purchasing Managers’ Indexes due later in the session limited gains.
Hang Seng, Shanghai and Nikkei were up 1.41 per cent, 0.48 per cent and 1.74 per cent at 20,846, 3052 and 17690, respectively.
The Dow and S&P 500 surged overnight as bargain hunters scooped up beaten-down shares.
Back home, Sensex and Nifty gained over 1 per cent on Wednesday following upbeat global markets. The sentiments also got a boost after the Reserve Bank of India went for a bigger-than-expected rate cut on Tuesday. Sensex closed 376.17 points up at 26,154.83. Nifty advanced 105.60 points at 7,948.90.
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Rupee opens flat at 65.56 per dollar -- 1 Oct 2015

On the back of custodial inflows, the USD-INR pair is expected to trade today in a range of 65.40-65.70/USD, says Mohan Shenoi of Kotak Mahindra Bank.

                           
The Indian rupee opened on flat note at 65.56 per dollar on Thursday against previous  closing of 65.58."Dollar had a mixed session with gains against funding currencies and marginal weakness against commodity & EM currencies. On the back of custodial inflows, the USD-INR pair is expected to trade today in a range of 65.40-65.70/USD,"

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Sensex closes 376 points up on upbeat global cues, Nifty settles at 7,949; Cairn, Idea gain over 6% -- 30 Sep 2015

The BSE Sensex and NSE Nifty gained over 1 per cent on Wednesday on upbeat global markets and the Reserve Bank of India's bigger-than-expected rate cut on Tuesday boosted market sentiment.


                               
The BSE Sensex and NSE Nifty gained over 1 per cent following upbeat global markets. The sentiments also got a boost after Reserve Bank of India went for a bigger-than-expected rate cut on Tuesday. Sensex closed 376.17 points up at 26,154.83. Nifty advanced 105.60 points at 7,948.90.
In the 50-share index, Cairn India, Idea, Tata Steel, GAIL and Bharti Airtel gained between 4.50 per cent and 6.50 per cent. On the other hand, Bank of Baroda, Tech Mahindra, State Bank of India, Tata Power and Axis Bank slid between 1.30 and 2.15 per cent.
Domestic equity markets tracked other Asian markets that gained between 0.50 per cent and 3 per cent. European stocks also edged higher in early trade.
The RBI cut its policy interest rate to a 4-1/2 year low of 6.75 per cent on Tuesday and also allowed for steady increase in foreign investment limit in government securities.
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Tuesday, 29 September 2015

BSE Sensex rises over 200 points in the morning trade -- 30 Sep 2015

The benchmark Bombay Stock Exchange (BSE) Sensex opened higher on Wednesday and was trading over 200 points higher at 25,995.36 in the morning trade.
 The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading higher at 7,895.45 points, with a gain of 52.15 points or 0.66 per cent at 10:103 am.

On Sensex, Tata Steel was leading the rally as the shares were up by 3.48 per cent.



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Live: Sensex jumps over 200 points on firm global cues, Nifty above 7,900; metal stocks up -- 30 Sep 2015

The BSE Sensex and NSE Nifty opened on a positive note on Wednesday following firm global cues amid a rate cut of 50 bps by the Reserve Bank of India in its monetary policy review on Tuesday.


                                 
Sensex was up 211.27 points at 25989. Tata Steel and Hindalco were up over 2.88 per cent and 2.71 per cent at Rs 207.15 and Rs 70, respectively.
The BSE Sensex and NSE Nifty opened on a positive note on Wednesday following firm global cues amid a rate cut of 50 bps by the Reserve Bank of India in its monetary policy review on Tuesday. Sensex opened 207.86 points up at 25,986.52. Nifty opened 80.95 points up at 7,924.25. Metal stocks were trading higher in the opening trade.
Traders also got some support with a report that India has become the top destination for FDI in the world. With $31 billion of foreign capital inflows, India has surpassed China and the US to take the pole position in attracting largest FDI in the first half of 2015.
Asian stocks took an early positive lead from Wall Street, which ended slightly higher overnight as the US bourses took a breather, with the latest round of China fears that gripped global markets petering out for the moment. Investors also felt relief as shares of mining and trading giant Glencore gained more than 10 per cent overnight.
Hang Seng, Nikkei and Shanghai were up 0.94 per cent, 1.84 per cent and 0.38 per cent at 20749.60, 17243.21 and 3049.68, respectively.
Dow Jones Industrial Average gained 0.30 per cent at 16049.13 on Tuesday.
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Sensex up 200 pts, Nifty hits 7900; metals, IT shine -- 30 Sep 2015

Tata Steel, Vedanta, TCS, Hindalco Industries, SBI, HDFC and IndusInd Bank rallied 1.5-2.5 percent. The Indian rupee gained 9 paise in early trade today. It has opened at 65.87 per dollar against previous close of 65.96.

                               
The market extended previous day's rally further in early trade Wednesday. The Sensex surged 225.78 points or 0.88 percent to 26004.44 and the Nifty climbed 71.35 points or 0.91 percent to 7914.65. Tata Steel, Vedanta, TCS, Hindalco Industries, SBI, HDFC and IndusInd Bank rallied 1.5-2.5 percent. The Indian rupee gained 9 paise in early trade today. It has opened at 65.87 per dollar against previous close of 65.96. Pramit Brahmbhatt of Veracity feels reduction in FII inflows coupled with profit booking in local equities may pressure the rupee to trade weak. He sees range for today between 65.40-66.40/dollar. Globally, the markets are mixed with the US markets ending mixed as the market stabilised after a steep sell-off. The Dow and S&P closed higher while the Nasdaq closed lower. European equities closed in the red as investors' sentiment turned negative despite recoveries in mining, autos and oil prices. London-listed commodity firm Glencore staged a rebound, climbing as much as 18 percent during trade after a note from Citi said that the selloff has been "overdone." The broker maintained its "buy" rating for Glencore. Asian markets, meanwhile, are a mixed bag early Wednesday morning. The Nikkei has bounced back from eight-month lows. Lower than expected data released before the market open did little to dampen sentiment. Kospi is playing catch up after being shut for holidays. The market is currently trading near three-week lows. In other asset classes, the US Dollar slipped as commodity currencies steady on Glencore shares rebound. Crude prices slipped with Nymex Crude hovering around the USD 44 mark while Brent slipped below USD 48 per barrel.

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Rupee opens 9 paise higher at 65.87 per dollar -- 30 Sep 2015

We see the range for today between 65.40-66.40/dollar, says Pramit Brahmbhatt of Veracit.

                               
The Indian rupee gained 9 paise in early trade on Wednesday. It has opened at 65.87 per dollar against previous close of 65.96.He sees range for today between 65.40-66.40/dollar.

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Sensex closes 162 points up at 25,779 after RBI rate cut lifts sentiments, Nifty settles at 7,843 -- 29 Sep 2015

The stock markets reversed early losses after the central bank cut its key interest rate by 50 basis points versus expectations of a 25-basis-point cut. The BSE Sensex closed 161.82 points up at 25,778.66. Nifty closed 47.60 points up at 7,843.

Domestic equity markets reversed losses while the benchmark 10-year bond surged to its highest in more than two years after the Reserve Bank of India  cut interest rates by a bigger-than-expected 50 basis points and allowed for steady increase in foreign investment limit in government securities. The BSE Sensex closed 161.82 points up at 25,778.66. Nifty closed 47.60 points up at 7,843.
Domestic equity markets reversed losses while the benchmark 10-year bond surged to its highest in more than two years after the Reserve Bank of India (
The RBI cut the repo rate from 7.25 per cent to 6.75 per cent, while it left cash reserve ratio unchanged at 4 per cent.
Brokers said the RBI’s decision to cut repo rate by 0.50 per cent to 6.75 per cent was better than market expectations and buoyed trading sentiments.
In the 50-share index, Maruti Suzuki, HDFC, Coal India, IndusInd Bank, Bank of Baroda gained between 1.80 per cent and 3.30 per cent. On the other hand, Vedanta, Bosch, BPCL, Hindalco and Tata Steel dipped between 3.10 per cent and 5.70 per cent.
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Monday, 28 September 2015

Sensex, Nifty fall 1%; banks plunge ahead of RBI policy -- 29 Sep 2015

According to a CNBC-TV18 poll, majority of analysts expect 25 basis points rate cut. The market may recover if RBI surprises with 50 basis points rate cut.

                       
The 30-share BSE Sensex slipped 247.88 points to 25368.96 and the Nifty fell 79.10 points to 7716.60. The BSE Midcap and Smallcap indices declined 1 percent and 0.8 percent, respectively. The market breadth continued to be in favour of declines with ratio of 491:1185. Axis Bank and ICICI Bank were the biggest contributors to Sensex fall, down 3 percent each. HDFC Bank, HDFC and State Bank of India dropped 0.7-1 percent. Vedanta topped the selling list, down more than 4 percent. Hindalco Industries, GAIL, Tata Steel and Bharti Airtel slipped 2-3 percent. However, Infosys, Coal India and BHEL bucked the trend, up marginally.

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Rupee opens sharply lower at 66.33/USD, down 29 paise -- 29 Sep 2015

The currency has opened sharply lower at 66.33 a dollar on Tuesday compared to 66.04 a dollar in previous session.

                       
The Indian rupee has opened sharply lower at 66.33 a dollar on Tuesday compared to 66.04 a dollar in previous session following weak global cues and ahead of RBI monetary policy.the RBI is expected to cut benchmark rates by 25 basis points in the crucial monetary policy meet today.

He expects USD-INR pair to trade in Rs 65.50-66.50 a dollar range today.





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Sensex gets the blues before RBI meet, tanks 247 points -- 29 Sep 2015

The BSE Sensex opened higher, advanced to a high of 25,936.89 following the beginning of October series, but succumbed to profit-booking before ending at 25,616.84, loss of 246.66 points, or 0.95 per cent. 

                
This is index's weakest closing level since 25,610.21 on September 11. 

The 50-share NSE Nifty slumped below the psychological 7,800-mark and settled down 72.80 points, or 0.93 per cent, at 7,795.70. 

The risk-off trade was evident as Europe remained in a bearish grip where shares were trading in deep red after mining major Glencore sank to a record low on depressed commodity prices the world over. 

The China factor also added to the anxiety level as profits in major industrial companies saw their sharpest decline in four years last month. 

"We are in a wait-and-watch scenario ahead of the RBI policy meet tomorrow. We believe that the market has already considered a rate cut of 25 bps, hence the commentary will be more important," said Vinod Nair, head-fundamental research, Geojit BNP Paribas Financial Services. 

The BSE metal index fell by more than 2.50 per cent even as auto shares tumbled 1.74 per cent. 

Meanwhile, data showed foreign investors net sold shares worth Rs 115.10 crore on Thursday. Markets remained closed on Friday for Eid.

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Nifty & Bank Nifty Fut Levels for today :: 29 Sep 2015


Nifty Future::
Trend:own
Pivot Level:7857
Support:7785/7745/7673
Resistance:7897/7969/8009


Bank Nifty Future::
Trend:own
Pivot Level:17275
Support:17061/16937/16723
Resistance:17399/17613/17737
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Sensex, Nifty may open in red as Asian shares fall sharply, all eyes on RBI policy review today --- 29 Sep 2015

The BSE Sensex and NSE Nifty are likely to open in deep red on Tuesday tracking SGX Nifty and weak global cues. Interest sensitive stocks are likely to be in focus ahead of RBI monetary policy review scheduled around at 11 am.



The BSE Sensex and NSE Nifty are likely to open in deep red on Tuesday tracking SGX Nifty and weak global cues. Interest sensitive stocks are likely to be in focus ahead of the Reserve Bank of India’s  monetary policy review, which is scheduled around at 11 am. The RBI had kept its benchmark lending rate – the repo rate unchanged at 7.25 per cent in its monetary policy review on August 4.
At 8.22 am (IST), SGX Nifty was down 1.50 per cent, or 115.50 points, at 7,717.50.
Achin Goel, head, wealth management and financial planning, Bonanza Portfolio, said, “Outcome of RBI’s monetary policy meet on Tuesday will decide the trend of the markets in the near term.”
Asian shares skidded to three-week lows and the dollar sagged on Tuesday, after weak Chinese data rekindled worries about its fragile economy and led to sharp losses on Wall Street.
Hang Seng, Nikkei and Shanghai were down 3.48 per cent, 2.77 per cent and 1.35 per cent at 20,448, 17,156 and 3,057, respectively.
Chinese industrial companies’ profits fell at their fastest rate in four years, official data showed on Monday, sparking fresh fears about the strength of that country’s economy ahead the final reading of China’s Caixin Purchasing Managers’ Index on Thursday.
On Wall Street on Monday, all major indices closed in red. The S&P 500 index hit a one-month low on bullish US consumer spending data in August as it raised concerns the Federal Reserve could hike rates at a time of slackening global growth.
Back home, Sensex closed 246.66 points down at 25,616.84 on Monday while Nifty closed 72.80 points down at 7,795.70.
Vinod Nair, head, fundamental research, Geojit BNP Paribas Financial Services, said, “We are in a wait and watch scenario ahead the RBI policy meet on Tuesday. We believe that the market has already considered a rate cut of 25 basis points, hence the commentary will be more important. Given the volatility in the global currency and the likelihood of a US rate hike by Dec-15, the commentary is likely to be hawkish and may not be taken positively by the market.”
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Sensex ends 247 points down ahead of RBI policy review; Airtel, Tata Motors touch new 52-week low-- 28 Sep 2015

The BSE Sensex and NSE Nifty ended in red on Monday after trading in a narrow range in the first half.


                                         
The BSE Sensex and NSE Nifty ended in red on Monday after trading in a narrow range in the first half. However, selling pressure in blue chips dragged down benchmark indices in the second half. Sensex closed 246.66 points down at 25616.84. Nifty closed 72.80 points down at 7795.70.
In the 30-share pack, share price of Tata Motors declined the most 6.31 per cent to Rs 284.25 and hit a fresh 52-week low of Rs 283.80. Share price of Vedanta, Coal India, Sun Pharma and Infosys also lost 4.61 per cent, 3.17 per cent, 3.26 per cent and 2.84 per cent, respectively, on Monday. On the other hand, Dr Reddy’s Labs gained the most 5.37 per cent at Rs 4,185, it was followed by Lupin (up 2.18 per cent), HUL (up 1.48 per cent) and TCS (up 0.83 per cent).
Among the sectoral indices on the Bombay Stock Exchange, the BSE Metal index and BSE Auto index declined 2.60 per cent and 1.74 per cent at 6,708.35 and 17,015.39. BSE Consumer Durables and BSE Realty index jumped 2.87 per cent and 1.03 per cent at 10,801.32 and 1,341.88, respectively.
The central bank is expected to cut its key repo rate to a four-year low on Tuesday to support the domestic economy at a time when consumer inflation is at a record low, but may express caution about easing further as price risks still loom.
A Reuters poll last week showed 45 of 51 economists expect the RBI to cut the repo rate by 25 basis points to 7 per cent, its lowest since May 2011.
“There should be a 25 basis point cut in interest rate and markets may react positively to it,” said Taher Badshah, senior vice president & co-head equities at Motilal Oswal Asset Management Co.
Sun Pharmaceutical declined 3.42 per cent, while its research arm Sun Pharma Advanced Research Co Ltd (SPARC) also fell 2.54 per cent after the USFDA revoked approval for SPARC’s seizure drug, citing manufacturing quality problems at its plant.
Dr Reddy’s Laboratories bucked the trend, rising as much as 6.5 per cent, after it launched a generic version of AstraZeneca Plc’s heartburn pill Nexium in the United States on September 25.
Infosys shares declined 2.91 per cent on Monday after its rival Accenture projected first-quarter revenue below analysts’ average estimate on the back of strong dollar. Accenture forecast revenue of between $7.70 billion and $7.95 billion. Analysts were expecting revenue of $8.11 billion, according to Thomson Reuters I/B/E/S.
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Sunday, 27 September 2015

Sensex, Nifty rangebound; Midcap, Smallcap outperform -- 28 Sep 2015

IDBI Bank (6 percent), Dewan Housing (5 percent), DLF (4 percent), Unitech (3 percent) and Oriental Bank (3 percent) were the big winners in the midcap space.



The market continued to see rangebound trade with the Nifty moving in tight range of 7840-7880. Banking and select pharma stocks gained strength while index heavyweights like Infosys, Reliance Industries & HDFC declined. The Sensex fell 25.47 points to 25838.03 and the Nifty plummeted 5.90 points to 7862.60. The market breadth was positive as about 1304 shares have advanced against 786 shares declined on the Bombay Stock Exchange. Sun Pharma (-3 percent), Coal India (-3 percent), UltraTechCement (-2 percent) and Infosys (-2 percent) were the big losers in the Nifty. Other laggards in the index were HDFC (-1 percent),Reliance (-1 percent),ONGC (-1 percent) and BHEL (-1 percent). Gainers included Dr Reddy's Labs (5 percent), Idea Cellular (3 percent), Lupin (3 percent) and Adani Ports (3 percent). In sectoral performance as reflected by the respective indices, metals (-1.3 percent), IT (-0.4 percent), auto (-0.2 percent) and capital goods (-0.1 percent) were under pressure, while consumer durables (1.5 percent), bank (0.7 percent), healthcare (0.7 percent) and FMCG (0.4 percent) gained.     IDBI Bank (6 percent), Dewan Housing (5 percent), DLF (4 percent), Unitech (3 percent) and Oriental Bank (3 percent) were the big winners in the midcap space. Other notable gainers included GMR Infra (3 percent), Reliance Infra (3 percent), Wockhardt (3 percent), Petronet LNG (3 percent) and Cadila Health (3 percent).     The rupee was quoting at 66.05 to the dollar, up 10 paise over its previous close. Brent crude was trading at USD 48.54/barrel, down USD 0.38 or 0.8 percent over its previous close.

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MCX Gold December contract slips -- 28 Sep 2015

Gold prices on MCX were trading lower on Monday. MCX Gold December contract was trading at Rs 26927 down Rs 37, or 0.14 percent.

                 
At 11:00 hrs MCX GOLD October contract was trading at Rs 26698 down Rs 36, or 0.13 percent. The GOLD rate touched an intraday high of Rs 26717 and an intraday low of Rs 26674. So far 740 contracts have been traded. GOLD prices have moved up Rs 545, or 2.08 percent in the October series so far. MCX GOLD December contract was trading at Rs 26927 down Rs 37, or 0.14 percent. The GOLD rate touched an intraday high of Rs 26938 and an intraday low of Rs 26909. So far 108 contracts have been traded. GOLD prices have moved down Rs 172, or 0.63 percent in the December series so far.

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Sensex, Nifty open flat; Adani Ports gains, Sun Pharma down -- 28 Sep 2015

TCS, Lupin, SBI, Cipla, HDFC Bank, Tech Mahindra, Idea Cellular and Adani Ports gained 1-2 percent. However, Tata Motors, Sun Pharma, Wipro, UltraTech Cement and Cairn India fell 1-2 percent.

                                   
The market has started October series on a flat note Monday after losing 1.4 percent last week. The Sensex rose 41.93 points to 25905.43 and the Nifty gained 10.45 points at 7878.95. About 627 shares have advanced, 204 shares declined, and 48 shares are unchanged on the BSE. TCS, Lupin, SBI, Cipla, HDFC Bank, Tech Mahindra, Idea Cellular and Adani Ports gained 1-2 percent. However, Tata Motors, Sun Pharma, Wipro, UltraTech Cement and Cairn India fell 1-2 percent. The Indian rupee has opened marginally higher by 5 paise at 66.11 per dollar today against 66.16 Thursday. Agam Gupta of Standard Chartered said, "There should be interest from importers and local government banks to buy USD on dips to 65.90 levels. Any upticks to 66.30 will attract interest from exporters to hedge their future dollar receivables." He further added, "The market participants will keenly await the Reserve Bank of India (RBI) policy announcement tomorrow and we expect trade to be rangebound ahead of the RBI meet." Global cues are mixed as the US markets closed mixed on Friday, pressured by a plunge in biotechs, and as investors digested Nike earnings and Fed chair Janet Yellen's remarks on a possible rate hike later this year. The S&P 500 closed marginally lower as a 2.7 percent decline in health-care more than offset a 1.45 percent gain in financials. The Nasdaq Composite too closed down 1 percent. Asian trade, meanwhile, started the week on a subdued note ahead of data from China. Hong Kong, Taiwan and South Korean markets are shut for the mid-autumn festival. The US dollar hit its highest in over five weeks against a basket of major currencies on expectations of a Fed rate hike this year.

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Sensex, Nifty likely to open in red tracking mixed Asian cues -- 28 Sep 2015

The BSE Sensex and NSE Nifty are likely to open in red on Monday tracking SGX Nifty and mixed Asian cues.


                      BSE Sensex and NSE Nifty are likely to open in red on Monday tracking SGX Nifty and mixed Asian cues.
The
At 8.29 am (IST), SGX Nifty was down 0.49 per cent, or 38.50 points, at 7,885.50.
Asian stocks sagged on Monday after Wall Street’s uninspiring Friday performance and ahead of key economic indicators, while the dollar consolidated its gains against the yen and euro. Nikkei and Shanghai were down 1.14 per cent and 0.53 per cent at 17,677.12 and 3,076.03, respectively.
On Friday, the S&P 500 erased an early Federal Reserve-driven rally and closed slightly lower amid a selloff in biotech shares, and the Nasdaq lost 1 per cent. The Dow , however, managed to rise 0.7 per cent.
The European markets ended the Friday’s session on a positive note led by comments from Janet Yellen, which provided the clarity investors had been seeking on the direction of US monetary policy.
Back home, the Indian markets ended modestly higher on Thursday ahead of a long weekend and the upcoming monetary policy meeting on September 29. Mixed global cues, rupee weakness and portfolio churning on the eve of the expiry of September derivative contracts limited potential gains. Sensex and Nifty jumped 0.16 per cent and 0.29 per cent at 25,863.50 and 7868.50, respectively, on Thursday. Domestic equity markets were closed on Friday on account of Eid.
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Rupee opens marginally higher at 66.11 per dollar -- 28 Sep 2015

The market participants will keenly await the Reserve Bank of India (RBI) policy announcement tomorrow and we expect trade to be rangebound ahead of the RBI meet.

               
The Indian rupee has opened marginally higher by 5 paise at 66.11 per dollar on Monday versus 66.16 Thursday.There should be interest from importers and local government banks to buy USD on dips to 65.90 levels. Any upticks to 66.30 will attract interest from exporters to hedge their future dollar receivables."


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Wednesday, 23 September 2015

Nifty opens below 7850 on F&O expiry day, Sensex weak -- 24 Sep 2015

Lupin, NTPC, Sun Pharma, Bajaj Auto and HUL are top gainers while ICICI Bank, HDFC, Axis Bank and Tata Steel are major losers in the Sensex.

                     
The market has opened weak on September F&O expiry day. The Sensex is down 71.40 points or 0.3 percent at 25751.59 and the Nifty slips 10.45 points or 0.1 percent at 7835.50. About 267 shares have advanced, 160 shares declined, and 29 shares are unchanged. Lupin, NTPC, Sun Pharma, Bajaj Auto and HUL are top gainers while ICICI Bank, HDFC, Axis Bank and Tata Steel are major losers in the Sensex. The Indian rupee has extended its fall in early trade on weakness in global equities. The currency has opened at 66.20 a dollar, down 23 paise or 0.34 percent compared to 65.97 a dollar in previous session. Mohan Shenoi, Kotak Mahindra Bank says Federal Reserve not hiking rates initially triggered global risk-on rally. But likely Fed lift-off in December, weak China PMI and Volkswagen crisis has reversed sentiment back to risk-off, he adds. According to him, safe-haven buying has helped the dollar rally. The rupee has been resilient with RBI presence on both sides, he feels. Meanwhile, Asian shares got off to a cautious start after more dour economic news in China and the United States prompted a bruising selloff the previous day. Worries that an eventual tightening in US monetary policy and slower growth in China could knock the global economy have scared off investors, particularly those invested in stocks and commodities. Japan's Nikkei average, opening for the first time since Friday after national holidays, tumbled 1.6 percent, edging near its seven-month low touched earlier this year. Wall Street also lost ground on Wednesday, dragged down by economic reports portraying US factory growth as tepid and China in its worst manufacturing contraction since the global financial crisis.

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Sensex, Nifty may open flat with negative bias -- 24 Sep 2015

The BSE Sensex and NSE Nifty are likely to open flat with negative bias on Thursday tracking SGX Nifty and mixed Asian cues.




The BSE Sensex and NSE Nifty are likely to open flat with negative bias on Thursday tracking SGX Nifty and mixed Asian cues. However, markets are likely to remain volatile throughout the day on account of F&O expiry.
At 8.29 am (IST), SGX Nifty was down 40.50 points, or 0.52 per cent, at 7,816.50.
Wall Street lost ground on Wednesday, dragged down by economic reports portraying US factory growth as tepid and China in its worst manufacturing contraction since the global financial crisis. Dow Jones Industrial Average index declined 0.31 per cent at 16279.89.
Hang Seng and Nikkei were down 0.64 per cent and 17,647.45 at 21,167.61 and 17,647.45 on Thursday. Shanghai was up 0.80 per cent at 3140.90.
Back home, Sensex and Nifty gained 0.67 per cent and 0.43 per cent at 25822.99 and 7845.95, respectively. Stock markets opened lower on Wednesday but recovered during the day on account of positive cues from Europe and comments from Chinese President Xi Jinping that a cheaper currency would not be used to boost exports.
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Rupee extends fall, opens 22 paise lower at 66.20/$ -- 24 Sep 2015

Indian rupee has opened at 66.20 a dollar, down 23 paise or 0.34 percent compared to 65.97 a dollar in previous session.


The Indian rupee has extended its fall in early trade Thursday on weakness in global equities. The currency has opened at 66.20 a dollar, down 23 paise or 0.34 percent compared to 65.97 a dollar in previous session.Shenoi expects the USD-INR pair to trade today in a range of 65.95-66.25 a dollar.




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


Nifty Future::
Trend::Consolidate
Pivot Level:7819
Support:7749/7643/7573
Resistance:7925/7995/8101


Bank Nifty Future::
Trend::Consolidate
Pivot Level:17116
Support:16907/16541/16332
Resistance:17482/17691/18057
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Sensex surges, Nifty holds 7800 comfortably; banks support -- 23 Sep 2015

ITC, M&M, Coal India, NTPC and HDFC Bank are top gainers in the Sensex. Among the losers are Tata Motors, BHEL, GAIL, Cipla and Tata Steel.

                                   
The Sensex is up 94.65 points or 0.4 percent at 25746.49, and the Nifty is  up 14.80 points or 0.2 percent at 7826.80. About 1287 shares have advanced, 1110 shares declined, and 119 shares are unchanged. ITC, M&M, Coal India, NTPC and HDFC Bank are top gainers in the Sensex. Among the losers are Tata Motors, BHEL, GAIL, Cipla and Tata Steel. Meanwhile, Asian emerging market currencies sank today after data showing further weakening in China's key manufacturing sector added to concerns about the global economy, sending investors flocking to safer assets. Regional units are already reeling from expectations of a hike in US interest rates later this year, which analysts say could trigger an outflow of capital from emerging markets to seek higher returns. China's keenly watched Purchasing Managers' Index (PMI) for factory activity in September fell to its lowest level since March 2009, the latest round of weak data following disappointing readings including on trade, investment and consumer spending.

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Tuesday, 22 September 2015

Sensex, Nifty recover; Tata Motors, BHEL, HDFC fall 1-2% -- 23 Sep 2015

Shares of HDFC, Tata Motors, Wipro, ONGC and Bajaj Auto slipped 1-2 percent while ITC, HDFC Bank, Infosys, M&M, NTPC, ICICI Bank and Coal India gained 0.2-1 percent.

                                               
The market recovered nearly 1 percent from day's low. The 30-share BSE Sensex declined 11.82 points to 25640.02 and the 50-share NSE Nifty slipped 18 points to 7794. The broader markets also recouped early losses to trade flat. Globally, Asian markets remained under pressure on renewed China woes. A preliminary reading of China's mammoth manufacturing sector fell to a six-and-half-year low of 47 in September, rekindling worries over the world's second-largest economy. Ruchir Sharma of Morgan Stanley said he sees signs of the global economy being close to a recession. Larsen and Toubro recouped early losses to trade flat. The stock fell 2 percent in early trade after ICRA downgraded term loans for two SPVs due to delays in debt servicing. The company told CNBC-TV18 that the downgrade of term loan due to regulatory issues, not liquidity. BHEL dropped 2 percent after CRISIL revised outlook on long-term bank facilities lower. Shares of HDFC, Tata Motors, Wipro, ONGC and Bajaj Auto slipped 1-2 percent while ITC, HDFC Bank, Infosys, M&M, NTPC, ICICI Bank and Coal India gained 0.2-1 percent.

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Sensex falls, Nifty slips below 7,800 in early trade -- 23 Sep 2015

The benchmark Bombay Stock Exchange (BSE) Sensex plunged over 265 points and the National Stock Exchange (NSE) Nifty slipped below the 7,800-mark in early trade as retail investors started off-loading their bets, tracking a global sell-off on weak Chinese factory data.
                   
Caution ahead of Thursday's September expiry in the derivatives segment too weighed.Falling for the third straight day, the 30-share barometer tanked 265.36 points, or 1.03 per cent, to 25,386.48. The gauge had lost 567.07 points in the previous two sessions.
All the sectoral indices, led by metal, capital goods, auto and bankex, were trading in the negative zone, with losses up to 1.48 per cent.
The NSE index Nifty went below the crucial 7,800-level by falling 88.75 points, or 1.13 per cent, to 7,723.25.Brokers said besides persistent capital outflows by foreign funds, a weak trend in Asia following an overnight heavy sell-off at US markets and a plunge in Chinese factory activity stoked fresh fears about the health of the world's second-largest economy and the global outlook, which soured mood here.
Hong Kong's Hang Seng fell 2.30 per cent while Shanghai Composite was down 1.46 per cent in early trade.Financial markets in Japan remained closed through Wednesday for a public holiday.The US Dow Jones Industrial Average ended 1.09 per cent lower on Tuesday.
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Sensex, Nifty marginally higher; Wipro, HCL Tech gainers -- 22 Sep 2015

Main gainers in the Nifty were Infosys (3 percent), Wipro (2 percent), HCL Technologies (2 percent) and Tech Mahindra (1 percent). Laggards were Hindalco (-3 percent), Bharti Airtel (-2 percent), Idea Cellular (-2 percent) and NTPC (-2 percent).

                                               
The Sensex rose 62.68 points to 26255.66 and the Nifty advanced 18.90 points to 7996. The broader markets marginally outperformed benchmarks. The BSE Midcap index gained 0.3 percent and Smallcap rose 0.8 percent. The market breadth was in favour of advances with 1450:864 ratio on the BSE. Main gainers in the Nifty were Infosys (3 percent), Wipro (2 percent), HCL Technologies (2 percent) and Tech Mahindra (1 percent). Laggards were Hindalco (-3 percent), Bharti Airtel (-2 percent), Idea Cellular (-2 percent) and NTPC (-2 percent). In sectoral performance as reflected by the respective indices, IT (1.9 percent), consumer durables (1.4 percent), healthcare (0.9 percent) and FMCG (0.4 percent) gained, while metals (-0.7 percent), power (-0.1 percent) and capital goods (-0.1 percent) were under pressure.     Ashok Leyland (4 percent), Just Dial (4 percent), Mindtree (4 percent), Sun TV Network (3 percent) and Bharat Forge (3 percent) were the big winners in the midcap space. Other notable gainers included Oracle Financial (2 percent), KPIT Tech (2 percent), Ipca Labs (3 percent), Piramal Enterprises (3 percent) and Indian Hotels (3 percent). The rupee was quoting at 65.62 to the dollar, up 10 paise over its previous close.




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Monday, 21 September 2015

Sensex, Nifty sluggish; Reliance, HDFC, HUL major laggards-- 21 Sep 2015

Hindalco, Tata Motors, Axis Bank, Maruti and GAIL are top gainers while Cipla, Reliance, Dr Reddy's Labs, HDFC and HUL are major losers.

                       
The market is flat but has recovered majorly. The Sensex is down 36.32 points at 26182.59 and the Nifty slips 8.90 points at 7973. About 1398 shares have advanced, 993 shares declined, and 129 shares are unchanged. Hindalco, Tata Motors, Axis Bank, Maruti and GAIL are top gainers while Cipla, Reliance, Dr Reddy's Labs, HDFC and HUL are major losers. Meanwhile, the Reserve Bank of IRendia is likely to effect one rate cut of 25 basis points at its monetary policy meeting on September 29, says Standard Chartered Associate Economist Anubhuti Sahay, but she expects no further rate cuts beyond that. "While we expect the RBI to go and cut rates, we expect the monetary policy stance, the forward guidance to be very guarded," she told CNBC-TV18.





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Sunday, 20 September 2015

Sensex, Nifty open flat; ICICI Bank, M&M, Vedanta slump -- 21 Sep 2015

Sun Pharma and GAIL are two gainers in the Sensex. Among the losers are ICICI Bank, M&M, Axis Bank, Vedanta and Hindalco are losers in the Sensex.

                           
The martket has opened flat on Monday following global cues. The Sensex is down 7.86 points at 26211.05 and the Nifty slips 70.95 points or 0.9 percent at 7910.95. About 227 shares have advanced, 340 shares declined, and 35 shares are unchanged. Sun Pharma and GAIL are two gainers in the Sensex. Among the losers are ICICI Bank, M&M, Axis Bank, Vedanta and Hindalco are losers in the Sensex. The Indian rupee slipped in early trade. It has opened lower by 19 paise at 65.86 per dollar versus Friday's closing value of 65.67. The currency on Friday appreciated by 79 paise to close at one-month high of 65.67 a dollar. Agam Gupta of StanChart Bank said, "The overnight equity sell-off will keep sentiment slightly weak. We expect dollar demand to come in from importers on dips to 65.55-65.60/dollar. Any upticks towards 66/dollar will see some exporter selling to hedge their receivables. We expect a range of 65.60-66/dollar for the day." The dollar recovered and lifting the mood of dollar bulls were comments from a top Fed policymaker, John Williams, who said a rate hike this year is still likely. Asian stocks declined early Monday, tracking an uninspiring lead from Wall Street, as the Federal Reserve's decision to keep interest rates near zero stoked concerns about global growth. Major US averages finished sharply lower last Friday, with the Dow Jones Industrial Average closing down 1.7 percent. The S&P 500 and tech-heavy Nasdaq Composite lost 1.6 and 1.4 percent respectively. Attention may also turn to Greece, where Prime Minister-elect Alexis Tsipras claimed victory in the country's general elections on Sunday and will return to power in a coalition government with the right-wing Independent Greeks.


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Rupee opens at 65.86 per dollar; down 19 paise--- 21 Sep 2015

We expect a range of 65.60-66/dollar for the day, 

                                   
The Indian rupee slipped in early trade on Monday. It has opened lower by 19 paise at 65.86 per dollar versus Friday's closing value of 65.67.The currency on Friday appreciated by 79 paise to close at one-month high of 65.67 a dollar.We expect dollar demand to come in from importers on dips to 65.55-65.60/dollar. Any upticks towards 66/dollar will see some exporter selling to hedge their receivables. We expect a range of 65.60-66/dollar for the day."




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Thursday, 17 September 2015

MCX Gold December contract rises -- 18 Sep 2015

Gold prices on MCX gained on Friday. MCX Gold December contract was trading at Rs 26600 up Rs 243, or 0.92 percent.


                                           
At 11:22 hrs MCX GOLD October contract was trading at Rs 26417 up Rs 249, or 0.95 percent. The GOLD rate touched an intraday high of Rs 26437 and an intraday low of Rs 26350. So far 2856 contracts have been traded. GOLD prices have moved up Rs 264, or 1.01 percent in the October series so far. MCX GOLD December contract was trading at Rs 26600 up Rs 243, or 0.92 percent. The GOLD rate touched an intraday high of Rs 26617 and an intraday low of Rs 26450. So far 149 contracts have been traded. GOLD prices have moved down Rs 499, or 1.84 percent in the December series so far.


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Sensex up over 200 pts, Nifty opens above 7950; banks zoom -- 18 Sep 2015

Bouyed up by Federal Reserve's decision, the market has opened with a bang on Friday. The Sensex is up 226.10 points or 0.9 percent at 26190.07 and the Nifty gains 68.30 points or 0.9 percent at 7967.45. About 420 shares have advanced, 63 shares declined, and 24 shares are unchanged.

                             
Bouyed up by Federal Reserve's decision, the market has opened with a bang on Friday. The Sensex is up 226.10 points or 0.9 percent at 26190.07 and the Nifty gains 68.30 points or 0.9 percent at 7967.45. About 420 shares have advanced, 63 shares declined, and 24 shares are unchanged. Vedanta, ICICI Bank, Axis Bank , Infosys and Tata Steel are top gainers in the Sensex. The Federal Reserve held off raising rates, which would have ended a nearly 7-year-old zero interest rate policy. Investors have started trading with a new view of the Fed's path to higher rates, and the promise of superlow rates for a little while longer. Odds have also risen that the Fed will now not hike rates until 2016, and RBS says the markets are currently pricing the first full rate rise for March but odds for December were still above 60 percent. Fed Chair Janet Yellen, during a briefing, explained the central bank could still hike in October, but some forecasters see December as more likely.



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Sensex, Nifty may open higher as US Fed leaves interest rates unchanged

The BSE Sensex and NSE Nifty are likely to open in green tracking SGX Nifty coupled with the US Federal Reserve decision to leave interest rates unchanged.

                                                       BSE Sensex and NSE Nifty gained 1 per cent and 0.89 per cent at 25963.97 and 7899.15.
Domestic equity markets were closed on Thursday on account of Ganesh Chaturthi. On Wednesday, the
The BSE Sensex and NSE Nifty are likely to open in green on Friday tracking SGX Nifty coupled with the US Federal Reserve decision to leave interest rates unchanged.
At 8.11 am, SGX Nifty was trading 35 points, or 0.44 per cent, up at 7,975.50.
Hang Seng and Shanghai were trading 0.40 per cent and 0.16 per cent up at 21,942 and 3091, respectively while Nikkei was down 1.30 per cent at 18,192.
Wall Street’s top banks now expect the US central bank to begin hiking rates in December, according to a Reuters poll conducted on Thursday.
Fed Chair Janet Yellen said the outlook abroad has appeared to become less certain, adding that recent falls in US stock prices and a rise in the value of the dollar already were tightening US financial market conditions. The Dow Jones Industrial Average closed 0.39 per cent down at 16,674.74.
Domestic equity markets were closed on Thursday on account of Ganesh Chaturthi. On Wednesday, the BSE Sensex and NSE Nifty gained 1 per cent and 0.89 per cent at 25963.97 and 7899.15.
For Friday’s opening session, Rohit Gadia, founder and chief executive officer, CapitalVia Global Research, said, “If markets open gap up on Friday then investors should wait for the market to settle down for at least one hour and start buying strong counters whose trend is up or it would be better to wait for first half and buy in latter half of trading session.”
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