LIVE MARKET UPDATE

Friday 21 August 2015

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Sensex cracked over 450 points, Nifty hit its highest intra-day fall since July 27. The rupee took a major hit against US dollar to touch its fresh two-year low. Most of the Asian markets were also trading with deep cuts on concerns of deceleration in the Chinese economy.


India's NSE index futures on SGX falls 1.3 pct to 8,270 after broad selloff in global markets on growth worries.NSE index has key short-term support at around 8,300 level as per options data and 200 EMA.Also, levels around 8,300 have served as mild supports thrice over the last two months.S&P 500, after Thursday's 2.2 pct decline, has turned negative YTD.


Bharti Airtel was the top Nifty loser, down 4.6 per cent at Rs 362. Vedanta, Tata Motors, Hero MotoCorp, Yes Bank, ICICI Bank, State Bank of India, Bank of Baroda, Tata Steel and Hindalco also fell 3-4 per cent each.


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Thursday 20 August 2015

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The S&P BSE Sensex slipped over 100 points in trade on Thursday, led by losses in TCS, Infosys, ICICI Bank, Tata Motors and L&T.The 50-share Nifty index also came under pressure, but managed to hold onto its crucial psychological level of 8450 levels, supported by gains in Pharma, consumer durable, and oil & gas stocks. 


Amtek Auto nose dives 40 pct adding to its 30.6 pct fall on Thursday.Group company Castex Technologies slumps to daily lower limit for 28th consecutive session.Stocks in pressure on continued worries over reports of liquidity issues at the company.NSE to exclude Amtek from derivatives at Oct. series end.Amtek Auto's debt/equity ratio of about 1.5x is among the highest for auto component makers across emerging economies in Asia Pacific, according to StarMine.Amtek reported a widened loss in April-June.


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.


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Wednesday 19 August 2015

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Shares of Cummins fell over 1 percent intraday on Wednesday. Nomura maintains reduce rating on the stock with an unchanged target of Rs 1064 per share. The brokerage says that the recent surge in revenue growth in Cummins India’s power generation segment is not sustainable beyond FY16. Cummins India’s powergen revenues in Q1FY16 benefitted from an uptick in demand in the real estate segment.


India's debt and foreign exchange markets were closed on Tuesday for a local holiday.India forthnightly money supply data to be released by the central bank during the day.India's cenbank says repo bids rise to 141.47 bln rupees.Indian banks' refinancing with RBI falls to 15.44 bln rupees.India cenbank says banks' cash balances fall to 3.61 trln rupees The stock markets were trading on a flat note with a negative bias in the morning trades.


 The Sensex was down 20 points at 27,811 and Nifty slipped 11 points to 8,455.The 50-share Nifty index slipped below its crucial psychological level of 8450, weighed down by losses in FMCG, metals, power and auto stocks. Rupee depreciated 12 paise to hit a fresh two-year low of 65.43 against dollar in early trade today over its Monday's closing of 65.31. The domestic currency market remained shut on Tuesday on account of Parsi New Year.

 
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Tuesday 18 August 2015

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The S&P BSE Sensex surged over 100 points in trade on Tuesday, led by gains in Infosys, L&T, M&M, TCS, Bharti Airtel and RIL.The 50-share Nifty index surged past its crucial psychological level of 8500, supported by gains in IT, auto, capital goods, metal and realty stocks.


The market has opened higher aided by global support. The Sensex is up 100.92 points or 0.4 percent at 27979.19 and the Nifty is up 28.55 points or 0.4 percent at 8505.85. About 402 shares have advanced, 110 shares declined, and 58 shares are unchanged.The Sensex and Nifty are likely to open higher as indicated by the Nifty futures traded on the Singapore Stock Exchange. Nifty futures traded on the Singapore Stock Exchange also known as the SGX Nifty was up 0.24 per cent or 20 points at 8,504.  


Reliance Communications Ltd, India'sfourth-biggest mobile phone carrier, said it had received non-binding bids from a number of interested buyers for the sale of a majority stake in Reliance Infratel, its tower unit.India's Bajaj Finance Ltd. plans to raise funds selling bonds maturing in five years, three merchant bankers told Newsrise on Monday. The non-banking finance company will pay an annual coupon of 8.80 percent on these bonds.


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Monday 17 August 2015

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The S&P BSE Sensex slipped over 300 points in trade on Monday following muted trend seen in other Asian markets. The fall in the index was led by losses in RIL, ICICI Bank, Cipal and Tata Motors. 


The 50-share Nifty index slipped below its crucial psychological level of 8450, weighed down by losses in auto, metal, oil & gas, realty, and Pharma stocks.India's cenbank says repo bids fall to 25.86 bln rupees.Indian banks' refinancing with RBI unchanged at 19.51 bln rupees.India's cenbank says banks' cash balances fall to 3.62 trln rupees.


Shares of Birla Corporation surged 12.5 percent intraday as the company is going to acquire Jojobera and Sonadih cement businesses from Lafarge India. The company either directly or through its wholly owned subsidiary, shall acquire both cement businesses for an enterprise values of Rs 5000.


The broader markets were also facing the heat of selling pressure. The BSE mid-cap index fell 0.42 per cent and the small-cap index slipped 0.61 per cent.From the mid-cap space, Unitech, J P Associates, J P Power Ventures, Reliance Capital, MRPL, United Breweries, Oberoi Realty and Essar Oil among the prominent losers.


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