Sensex rallies over 200 points; Nifty tests 7,900 levels

The S&P BSE Sensex was up over 200 points after gaining over 250 points in opening trade on Wednesday following positive trends seen in other Asian markets.

The 50-share Nifty index was testing its crucial resistance level of 7,900.

Among the sectoral indices, the BSE Metal index was the top gainer, up 2.15 per cent. The sentiment on the street was upbeat as seven out of ten BSE stocks traded with gains.

The BSE midcap index was up by 0.85 per cent while the BSe smallcap index was trading higher by a per cent.

HDIL gained about 3 per cent while Blue Star Info cracked by 20 per cent. Hindalco and Tata Steel were higher by 3 per cent each.

Sensex: 25969.37, up 190 points; Nifty: 7886.40, up 43 points

Top Gainers:

TATA STEEL (3.7%), BHARTI AIRTEL (3.0%), HINDALCO (2.9%), HINDUSTAN UNILEVER (2.4%), TATA MOTORS (2.1%)

Top Losers:

AXIS BANK (1.4%), SBI (1.2%0, VEDANTA (1.2%), GAIL (1.1%), TCS (0.5%)

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Sensex down 300 points; Nifty retest 7700 levels

The S&P BSE Sensex plunged over 300 points in trade on Tuesday following Asian markets, which were trading lower on renewed worries about global economic growth.The global investors are back to being cautious with worries related to China and overall growth of the global economy. In such a scenario all eyes are turned towards the Reserve Bank of India (RBI).

Most analysts on Dalal Street expect the RBI to slash policy rates by atleast 25 bps later today, but markets will will cheer if a surprise cut of 50 bps is announced by the RBI, say experts.
The 50-share Nifty index was also trading around its crucial psychological level of 7700, weighed down by losses in Pharma, auto, banks, and metal stocks.

Sensex: 25372.76, down 244 points; Nifty: 7718.35, down 77 points

Top Gainers

BHEL (0.7%), COAL INDIA (0.6%), INFOSYSBSE 0.35 % (0.3%), L&T (0.1%)

Top Losers:

VEDANTA (4.1%), ICICI BANKBSE -1.36 % (3.0%), AXIS BANKBSE -1.37 % (2.9%), BHARTI AIRTELBSE -2.41 % (2.5%), TATA STEEL (2.3%)

Nifty struggles to hit 7850 ahead of expiry; Infosys up

The market is in red on September expiry day with midcaps eeking out a marginal outperformance. The Sensex is down 85.50 points or 0.3 percent at 25737.49 and the Nifty slips 16.55 points or 0.2 percent at 7829.40. About 1279 shares have advanced, 779 shares declined, and 81 shares are unchanged.

Lupin, Infosys, Maruti, Cipla and Bajaj Auto are top gainers while ONGC, Coal India, Tata Steel, L&T and Vedanta are major losers in the Sensex.

Manoj Murlidharan of Religare Securities expects the Nifty to hover near 7886 level at the expiry. He has the stop loss for Nifty at 7764 level. For Bank Nifty, Murlidharan’s call option is 17300 with a sell call at 17500 level.

Asian shares traded mixed, with Japan's Nikkei 225 index lagging behind its regional peers after returning from a three-day national holiday earlier in the week.

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Sensex, Nifty, Midcap under pressure; rupee breaches 66/$

 

The Rupee breached 66-mark against dollar today, continuing depreciation for the second consecutive session. The currency fell 15 paise to 66.02 a dollar.

The market continued to see selling pressure following weakness in global peers on growth concerns. The Sensex fell 150.77 points to 25501.07 and the Nifty declined 61.90 points to 7750.10.

The broader markets, too, declined with the BSE Midcap and Smallcap indices falling 0.7 percent and 0.2 percent, respectively. About 687 shares have advanced, 968 shares declined, and 69 shares are unchanged on the BSE.

Shares of HDFC, ICICI Bank, Axis Bank, Tata Motors, L&T, ONGC, Bharti Airtel, Wipro and SBI were prominent losers in morning trade, down 1-2 percent. However, ITC, Mahindra & Mahindra, TCS, NTPC and Hero Motocorp outperformed with marginal gains.

Meanwhile, the rupee breached 66-mark against dollar today, continuing depreciation for the second consecutive session. The currency fell 15 paise to 66.02 a dollar. 

 

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Sensex, Nifty maintain uptrend; Bharti, Bajaj Auto, L&T dip

Infosys, M&M, Wipro, Lupin and BHEL are top gainers while Hindalco, NTPC, L&T, Bharti Airtel and Bajaj Auto are among major losers in the Sensex.

The market is still holding gains as the Sensex is up 76.61 points or 0.3 percent at 26269.59. The Nifty is up 19.75 points or 0.2 percent at 7996.85. About 1151 shares have advanced, 505 shares declined, and 46 shares are unchanged.

The rupee edged higher by 17 paise to 65.56 against the US dollar in early trade today at the Interbank Foreign Exchange market on increased selling of the American unit by exporters amid fresh foreign funds inflows.

Forex dealers said a weakening dollar against other currencies overseas and a higher opening in the domestic equity market supported the rupee. The rupee had closed lower by six paise at 65.73 yesterday on fresh demand for the American currency from banks and importers following a stronger greenback in overseas markets.

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Sensex, Nifty recover a bit; FMCG drags, infra stocks Gain

Tata Motors, Maruti, Axis Bank, L&T and SBI are top gainers while HDFC, Tata Steel, M&M, NTPC and Hindalco are among losers in the Sensex. FMCG index is down 0.6 percent from previous close.

The Sensex is down 111.74 points or 0.4 percent at 26107.17, and the Nifty slips 32.25 points or 0.4 percent at 7949.65. About 1231 shares have advanced, 967 shares declined, and 103 shares are unchanged. Reliance, HDFC, Dr Reddy's Labs, NTPC and BHEL are major losers while Tata Motors, Maruti Suzuki and Axis Bank are top gainers in the Sensex.

The market continues to drag but recovers from early morning's sharp losses. The Sensex is down 82.45 points or 0.3 percent at 26136.46 and the Nifty slips 23.30 points or 0.3 percent at 7958.60.

About 1176 shares have advanced, 837 shares declined, and 90 shares are unchanged. Tata Motors, Maruti, Axis Bank, L&T and SBI are top gainers while HDFC, Tata Steel, M&M, NTPC and Hindalco are among losers in the Sensex. FMCG index is down 0.6 percent from previous close. 

 

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Sensex up 500pts, Nifty hits 8050; Bank Nifty at 1-mth high

Equity benchmarks gained more strength in noon trade, majorly led by banking & financials. The Sensex rallied 507.37 points or 1.95 percent to 26471.34 and the Nifty climbed 155.15 points or 1.96 percent to 8054.30.

The BSE Midcap and Smallcap indices gained 1.9 percent and 1.6 percent, respectively. About 1709 shares have advanced against 553 shares declined on the Bombay Stock Exchange.

Axis Bank (5 percent), ICICI Bank (4.1 percent), SBI (3.7 percent) and M&M (3.6 percent) are the top gainers in Nifty. Among the losers are Tata Motors (-1.9 percent), HUL (-0.9 percent), Bharti Airtel (-0.7 percent) and GAIL (-0.6 percent).

Bank Nifty topped the buying list among sectoral indices, up 3.7 percent to 17,588.50, the one-month high. All banks gained between 2 percent and 5 percent.

CRISIL (8 percent), IRB Infra (7 percent), Union Bank (6 percent), IDBI Bank (5 percent) and DLF (5 percent) were the big winners in the midcap space. Other notable gainers included Karnataka Bank (4 percent), Canara Bank (5 percent), GMR Infra (5 percent), Oriental Bank (5 percent) and Amara Raja Batteries (5 percent).

The rupee gained past 66 a dollar. It was quoting at 65.94 to the dollar, up 52 paise over its previous close.

Among key Asian markets Singapore’s Straits Times was up 10 points at 2906, Hong Kong’s Hang Seng was up 59 points at 21914, and China’s Shanghai was up 1 points at 3087. Japan’s Nikkei 225 closed at 18070, down 362 points or 2.0 percent over its previous close, Korea’s KOSPI closed at 1995, up 19 points or 1.0 percent , and Taiwan’s Taiwan Index closed at 8462, up 16 points 

 

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Nifty holds 7850, Sensex firm; Sun Pharma up, BHEL dips 2%

 

Hero MotoCorp, Sun Pharma, Bajaj Auto, Bharti Airtel and Axis Bank are top gainers while BHEL, L&T, NTPC, Hindalco and Tata Steel.

The market is holding its morning gains firmly. The Sensex is up 131.55 points or 0.5 percent at 25837.48 and the Nifty is up 30.05 points or 0.4 percent at 7859.15. About 1076 shares have advanced, 957 shares declined, and 77 shares are unchanged.

Meanwhile, as all eyes are on the Federal Reserve move on rate hike analyts feel India is ready for it. Markets are poised for a relief rally even if the Federal Reserve hikes interest rates for the first time in nine years, and it is likely the US central bank will do it, to "call the bluff of scaremongers", believes Ajay Bodke of brokerage firm Prabhudas Lilladher.

Gold struggled to break out of a tight range near its one-month low , as investors waited to hear on the outlook of US interest rates from a Federal Reserve policy meet that kicks off later in the session.

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Sensex, Nifty continue to struggle; infra, metal, Auto down

 

Tata Steel, Hindalco, Vedanta, Tata Motors and L&T are major laggards while Maruti, Sun Pharma, NTPC, HUL and ITC are top gainers in the Sensex.

The market continues to struggle as capital goods, metals and auto stocks are down. The Sensex is down 63.88 points at 25792.82. The Nifty is down 27.80 points at 7844.45. About 967 shares have advanced, 1011 shares declined, and 95 shares are unchanged.

Buzzing:

Shares of Bharat Forge slipped 5 percent intraday. Bank of America Merill Lynch has slashed target price by 16 percent to Rs 900 per share as weaker demand drives de-rating. The brokerage has also cut FY17 earnings per share (EPS) by 6 percent stating weaker exports and non-auto will hurt mix and margin. BoAML says weaker non-auto demand led by oil & gas sector and cyclical slowdown in the US heavy truck market in 2016 are key concerns for the company. In 1QFY16, non-auto declined 15 percent Q-o-Q and grew only 4 percent Y-o-Y, substantially lower than the 52 percent growth in FY15.

Gold edged down to just above a one-month low, as European stocks rose ahead of a Federal Reserve policy meeting that will be scrutinized for clarity on when the US central bank will raise interest rates.

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Nifty inches towards 7850, Sensex steady; banks & metals up

The market remained in a positive terrain following further contraction in WPI inflation. The Sensex gained 94.15 points at 25704.36 and the Nifty rose 26.10 points to 7815.40.

The broader markets continued to outperform benchmarks with the BSE Midcap and Smallcap indices rising 1 percent and 0.7 percent, respectively. About 1448 shares have advanced against 768 shares declined on the Bombay Stock Exchange.

NTPC, Tata Steel, Axis Bank, Wipro and GAIL are top gainers in the Sensex while Reliance, ONGC, Bajaj Auto, Hero MotoCorp and HDFC are among laggards in the Sensex.

The US Federal Reserve is unlikely to raise interest rates too fast and to a high level, feels Willem Buiter, Global Chief Economist, Citi.

Global markets are watching the Fed's move on interest rates on Thursday, as the economy continues to be on the mend.

In an interview with CNBC-TV18, Buiter says there is ample liquidity in global markets and does sees the recent downgrade of Brazil's rating as a country specific development. 

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Nifty eyes 7850, Sensex firm; SBI & Vedanta up 2%, HUL down

The Sensex gained 118.54 points at 25740.71 and the Nifty rose 38.50 points to 7826.60.

About 1476 shares have advanced, 556 shares declined, and 79 shares are unchanged on the BSE.

The market is holding early gains as the Sensex is up 154.10 points or 0.6 percent at 25776.27. The Nifty gains 45.60 points or 0.6 percent at 7833.70. About 1272 shares have advanced, 360 shares declined, and 50 shares are unchanged.

SBI, Vedanta, Axis Bank, Wipro and ONGC are top gainers whule BHEL, HUL,Tata Motors, GAIL and ICICI Bank are among laggards in the Sensex.

Harendra Kumar of Elara Capital believes the market will see a bottoming out in the next one month and one can buy a lot of select stocks in the current market.

He believes the foreign institutional inflows are expected to be positive in the days to come. He suggests buying select midcap stocks in the oil and gas and telecom space form a long-term point of view.

Crude oil prices dipped after news top oil exporter Saudi Arabia sees no need for a summit of producing countries' heads of state to defend prices, partly offsetting the previous session's strong rally on bullish gasoline demand. 

 

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Sensex, Nifty, Midcap under pressure; bank, oil stocks drag

The Indian equity market is down in early trade on the back of a weak handover from US and China. Both the indices are down 1 percent but this is just the market getting hyper, says Samir Arora of Helios Capital.

The market remained under pressure in morning trade with the Sensex falling 370.51 points or 1.44 percent to 25349.07, dragged by banking & financials, auto, oil, capital goods and FMCG stocks. The Nifty continued to hover around 7700, down 118.45 points or 1.51 percent to 7700.15.

The broader markets, too, plunged 1.5 percent as about 1370 shares have declined against 355 shares advanced on the Bombay Stock Exchange.

At the moment, 7500 looks like the Nifty bottom, though one does not know how market will behave in the face of volatility, says market expert Ambareesh Baliga.

At the same time if one sees to 15 percent gains during a bounce, one must book out, says Baliga. "Then sit on cash until there is a crack again." He expects the bull run to be steady after 2-3 months depending on Fed statement.

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Sensex, Nifty cool off but steady; IT stocks lead, HUL down

 

The market has cooled off from early gains but is still holding firm. The Sensex is up 308.03 points or 1.2 percent at 25625.90, and the Nifty is up 98.10 points or 1.3 percent at 7786.35. Asian shares surged , with Japan's benchmark Nikkei index reaping monstrous gains, following the positive finish in offshore markets and as investors bet on China to step on the stimulus pedal soon. Nikkei is up over 1000 points.

About 1646 shares have advanced, 444 shares declined, and 69 shares are unchanged.

Vedanta, Hindalco, Tata Steel, Infosys and Maruti are top gainers while GAIL and HUL are down around 1 percent each.

Crude oil prices rose on as Asian stock markets caught a tailwind from a strong performance in the United States and Europe, although fuel markets remained generally dogged by oversupply.

Asian shares gained after upbeat German economic data powered rising US and European markets, and traders said the more upbeat sentiment in Asia had flowed through to oil markets.

However, concerns remained that high global production was being met with a growing slowdown in demand, especially in the United States where the end of the summer driving season means slowing consumption.

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Sensex, Nifty in red; Cipla, Bharti, Dr Reddy’s Labs fall

 GAIL, NTPC, ICICI Bank, Hindalco and Tata Steel are top gainers in the Sensex. Among the losers are HUL, Cipla, Dr Reddy's Labs and Bharti Airtel.

The market has again slipped into red after comfortably placed in green for sometime in early trade. The Sensex is down 40.55 points or 0.2 percent at 24853.26 and the Nifty is down 8.20 points or 0.1 percent at 7550.60. About 661 shares have advanced, 1457 shares declined, and 90 shares are unchanged.

Oil prices remained weak as the global economic outlook darkened further and cooperation between oil producing countries to curb oversupply looked unlikely. Oil prices have fallen almost 60 percent since June 2014 on a global supply glut, with prices seesawing in recent weeks as concerns about a slowing Chinese economy caused turmoil in global stock markets.

Trading gathers steam. The Sensex is up 58.73 points or 0.2 percent at 24952.54 and the Nifty is up 17.65 points or 0.2 percent at 7576.45. About 747 shares have advanced, 1304 shares declined, and 82 shares are unchanged.

 

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Nifty struggles below 7650, Sensex rangebound; Bharti falls

HDFC, Tata Motors, Cipla, Maruti and ITC are top gainers in the Sensex. Among the losers are GAIL, Coal India, Lupin, Dr Reddy's Labs and Bharti Airtel.

CLSA is bullish on HDFC Bank and recommends buying it for a 31 percent return in a year's time. The brokerage has set a target price of Rs 1300 per share and expects HDFC Bank to deliver a 25 percent profit CAGR, much higher than the 20 percent growth in FY15.

It feels that HDFC Bank's widening growth gap versus corporate banks could expand its valuation premium as its focus is on a digital ecosystem, targeting revenue potential and operatingefficiencies. According to CLSA, its credit card business is also at an inflection point and will not only drive fee growth, but will facilitate loan and deposit relationships.

The market is still volatile as the Sensex is down 24.39 points or 0.10 percent at 25177.51. The Nifty is down 14.95 points or 0.2 percent at 7640.10. About 743 shares have advanced, 1313 shares declined, and 69 shares are unchanged. HDFC, Tata Motors, Cipla, Maruti and ITC are top gainers in the Sensex. Among the losers are GAIL, Coal India, Lupin, Dr Reddy's Labs and Bharti Airtel.

Gold extended losses into a fourth straight session on Monday, struggling near a 2.5-week low after US payrolls data failed to provide clarity on the timing of a Federal Reserve rate hike. Bullion had come under pressure on Friday after data showed nonfarm payrolls increased 173,000 last month after an upwardly revised gain of 245,000 in July, and the jobless rate dropped to a 7-1/2-year low.

The jobs count, however, may have been tarnished by a statistical fluke that has often led to sharp upward revisions to payroll figures for August after initial weak readings.

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Live Market Updates: Sensex, Nifty slip 1.7%; Bank And OIL.

Cipla and Lupin are only the two Sensex gainers. Tata Steel, Tata Motors, Vedanta, Hindalco and ICICI Bank are major laggards in the Sensex.

The market sees a bit of recovery. The Sensex is down 429.33 points or 1.7 percent at 25335.45 and the Nifty slips 136.60 points or 1.7 percent at 7686.40. About 323 shares have advanced, 1855 shares declined, and 71 shares are unchanged.

Continous heavy selling keep the market wobbly on Friday. The Sensex is down 516.71 points or 2 percent at 25248.07 and the Nifty is down 163.60 points or 2 percent at 7659.40. About 293 shares have advanced, 1809 shares declined, and 56 shares are unchanged.

Cipla and Lupin are only the two Sensex gainers. Tata Steel, Tata Motors, Vedanta, Hindalco and ICICI Bank are major laggards in the Sensex.

Oil prices edged lower in cautious Asian trade today as investors await the release of a US jobs report for August that could determine the Federal Reserve's timetable for hiking interest rates. A rate hike would likely strengthen the greenback, making dollar-priced oil more expensive to holders of weaker currencies, hurting demand and prices. However, Ang said crude retained some support after the European Central Bank (ECB) on Thursday indicated more stimulus could be on its way for the eurozone.

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Sensex, Nifty, Midcap climb 1%; Ambuja Cements top gainer

Ambuja Cements topped the buying list on Nifty, up over 4 percent after Nomura upgraded the stock to buy with target price of Rs 253 per share. It believes cement demand growth in non-south regions is likely to be strong.Equity benchmarks continued to see short covering and little bit of value buying as well. The 30-share BSE Sensex gained 263.71 points or 1.04 percent at 25717.27 and the 50-share NSE Nifty climbed 89.60 points or 1.16 percent to 7806.60, led by banking & financials, capital goods, auto and metal stocks.

The BSE Midcap and Smallcap indices rallied too, up over 1.2 percent in noon trade. The market breadth remained positive as about 1600 shares have advanced against 660 shares declined on the Bombay Stock Exchange.

There has been calm across Asia, as China and Hong Kong markets shut today. Japan's Nikkei gained 0.5 percent while Straits Times and Taiwan Weighted rose 0.8 percent each. European markets are likely to open higher ahead of the ECB policy decision due later today.

Investor, Marc Faber said data suggests economic growth in China is worse than 4 percent. He expects volatility in global markets to continue for next 6 months. On India, he said an economic slowdown in China will definitely impact India.

Ambuja Cements topped the buying list on Nifty, up over 4 percent after Nomura upgraded the stock to buy with target price of Rs 253 per share. It believes cement demand growth in non-south regions is likely to be strong.

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Sensex, Nifty Remain Sluggish; SBI, BHEL, NTPC drag 2%

TCS, ITC, Lupin, Reliance and Infosys are top gainers. Among the losers are BHEL, NTPC, Axis Bank, Hero and SBI are losers in the Sensex.

The market continues to remain flat after early gains. The Sensex is up 14.73 points at 25711.17 and the Nifty is up 7.80 points or 0.10% at 7793.65. About 1205 shares have advanced, 842 shares declined, and 79 shares are unchanged. TCS, ITC, Lupin, Reliance and Infosys are top gainers. Among the losers are BHEL, NTPC, Axis Bank, Hero and SBI are losers in the Sensex.

Gold edged lower after a four-day advance that had been fuelled as uncertainty over the fate of China's economy hit global equities. Asian shares slipped after weak manufacturing activity reports from both the US and China sent Wall Street reeling, while the dollar steadied after steep losses. All eyes will be on Friday's US nonfarm payrolls with economists saying strong employment growth in August could help cement expectations that the Fed will raise interest rates for the first time in nearly a decade at its next meeting on Sept. 16-17.
 

One of the reasons why many private sector banks had been enjoying premium valuations in the last few years was because of limited competition, feels Ajay Srivastava of Dimensions Consulting. With the entry of payment banks, more banks will have to cut their interest rates to protect market share, and this could lead to a shrinking of the juicy valuations, Srivastava tells CNBC-TV18. 








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Sensex skids over 300 pts, Nifty below 8000; IT stocks up

The market skid further as the Sensex is down 303.87 points or 1.2 percent at 25979.22 and the Nifty slips 97.55 points or 1.2 percent at 7873.75. About 641 shares have advanced, 1576 shares declined, and 84 shares are unchanged.

Axis Bank, HDFC, Bharti Airtel, Hindalco and SBI are among major laggards in the Sensex. Among the gainers are TCS, Infosys, Sun Pharma, NTPC and ONGC.

Auto sales: Maruti Suzuki, the country's largest car maker, has sold 1,17,864 vehicles in August, a growth of 6.4 percent over a year-ago period driven by Ciaz, S-Cross and Alto Automatic but impacted by big fall in compact car sales and lower exports. Overall sales growth was much lower than expected as Nomura estimated 9.2 percent growth year-on-year at 1.21 lakh units. Domestic sales in August grew by 8.6 percent to 1.06 lakh units whereas export declined 11.1 percent to 11,083 units compared to same month last year.

The market continues to be under pressure mostly dragged by banks. The Sensex is down 189.30 points or 0.7 percent at 26093.79 and the Nifty slips 59.30 points or 0.7 percent at 7912. About 666 shares have advanced, 1427 shares declined, and 67 shares are unchanged.

HDFC, Lupin, Axis Bank, Bharti Airtel and Hindalco are among major laggards while IT stocks are up on rising rupee. Sun Pharma, Infosys, TCS, ONGC and NTPC are top gainers in the Sensex.

Oil prices fell 3 percent in Asian trade, with investors covering short positions and taking profits after Brent and US crude soared more than 8 percent in the previous session. Both Brent and US crude prices dropped nearly USD 2 a barrel shortly after trading in Brent started on Tuesday before recovering later in the session.

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