Sensex slips 100 points, Nifty50 below 7,700;

Free Nifty Tips - The S&P BSE Sensex slipped 100 points on Wednesday following muted trend seen in other Asian markets and further slump in crude oil prices.
 

The Nifty50 slipped broke below its crucial psychological support level of 7,700. The broader market underperformed the benchmark indices with the BSE midcap and smallcap indices shedding 0.58 and 0.75 per cent, respectively. Among the sectoral indices, the BSE Telecom index was the top laggard, down 1.73 per cent.
 

Shares of Dr Reddy's slipped over 4 per cent in early trade after the company submitted its reply to the US drug regulator. Amtek Auto continued its rally from Tuesday gaining 3 per cent. BHEL gained 2 per cent, to become the top gainer on BSE Sensex.
 

Equity benchmarks continued to see selling pressure. The Sensex declined 92.42 points to 25217.91 and the Nifty fell 32.15 points to 7669.55. About 420 shares have advanced, 1790 shares declined, and 114 shares are unchanged on

Free nifty tips - Nifty Hovers Around 7800 Amid Pressure; Tata Motors Gains

 

Free Nifty Tips - Equity benchmarks remained under pressure. The Sensex fell 188.68 points or 0.73 percent to 25697.94 and the Nifty declined 63.70 points or 0.81 percent to 7800.45. About 1036 shares have advanced, 1120 shares declined, and 125 shares are unchanged on the BSE.
 

The market continued to see selling pressure in morning trade following global weakness post ECB policy. The Sensex fell 176.71 points or 0.68 percent to 25709.91 and the Nifty declined 60.40 points or 0.77 percent to 7803.75 due to selling in banking & financials, FMCG and technology stocks.
 

The broader markets outperformed benchmarks as the fall in Midcap and Smallcap indices was less compared to benchmarks. The market breadth was marginally negative as about 948 shares have advanced and 1075 shares declined on the BSE.
 

Tata Motors, Sun Pharma, Lupin, Bharti Airtel, Tata Steel, Coal India, Vedanta and Hindalco Industries bounced back, rising 0.3-0.8 percent.

Nifty above 8150, Sensex steady; Vedanta, Hindalco up 4-6%

The market is sustaining gains as the Sensex is up 107.07 points or 0.4 percent at 27039.95. The Nifty is up 22.15 points or 0.3 percent at 8175.05. About 1491 shares have advanced, 657 shares declined, and 94 shares are unchanged.

Vedanta, Hindalco, ONGC, Bajaj Auto and Tata Motors are top gainers in the Sensex. Among the losers are Bharti Airtel, Wipro, ICICI Bank, Dr Reddy's Labs and L&T.

Gold rose towards its highest in nearly two weeks on Wednesday, as more sluggish US economic data supported views that the Federal Reserve would delay a rate hike to next year.

Data on Tuesday showed that US exports took a hit from an ailing global economy in August and imports from China surged, fuelling the largest expansion of America's trade deficit in five months.

ONGC gained 3 percent and Cairn India surged 4.5 percent after further upside in oil prices. Brent crude climbed 1 percent to USD 52.44 a barrel and Nymex crude rose 1.6 percent to USD 49.31 a barrel on hopes the crude supply glut may ease and the Federal Reserve may hold rate hike. 

 

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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, 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 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 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 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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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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Choppy Sensex, Nifty under pressure; Europe extends losses

New Listing  :

State Bank of India, ICICI Bank, HDFC, Axis Bank, Bharti Airtel, Dr Reddy's Labs, Cipla, Vedanta and Tata Steel dropped 1-3 percent. BHEL slipped 2.5 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.


Gold Update :

 Gold edged up today after falling the most in five weeks the session before as global equities were revived after China cut interest rates and bank reserve requirements to support a flagging economy. But China's move appears to have only boosted equities temporarily, with US stock futures resuming their descent and Asian shares slightly lower. Further losses in equities could switch appetite back to safe-haven assets such as gold.


Market Check :

The market slipped again amid consolidation in afternoon trade, tracking further fall in European markets. France's CAC, Germany's DAX and Britain's FTSE extended losses, losing 2-2.7 percent. The 30-share BSE Sensex dropped 122.05 points or 0.47 percent to 25910.33 and the 50-share NSE Nifty slipped 24.75 points or 0.31 percent to 7855.95. The BSE Midcap also wiped its gains, trading flat. The rupee, too, depreciated by 20 paise to 66.30 against US dollar.

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Sensex, BankNifty, Midcap fall over 3%; Tata Motors down 6%

Shares of Astra Microwave Products gained 1 percent on the back of formation of joint venture (JVC) with Rafael Advanced Defence Systems, Israeli. The company has signed a term sheet for joint production and supply of Tactical Radio Communication systems, Electronic war-fare systems and Signal intelligence systems.

The JVC will operate from Hyderabad and is expected to start business development activities in the first half of 2016. About USD 20 million is expected to be invested in the first two years in the JVC, as per BSE Release. ASTRA and M/s Rafael will own 51:49 in the JVC and will become 50:50 subject to regulatory approvals.
 

Market Update: The Sensex crashed 1,053.64 points or 3.85 percent to 26312.43 and the Nifty plunged 321.10 points or 3.87 percent to 7978.85. About 233 shares have advanced, 1895 shares declined, and 36 shares are unchanged on the BSE.
 

Bank Nifty lost over 900 points. 10:20 am Crude below $40/bbl: Crude prices dived in Asia today, with US oil hovering below the key USD 40 a barrel mark amid deepening concerns about weak Chinese economic growth and global oversupply, analysts said. US benchmark West Texas Intermediate (WTI) for October delivery fell USD 1.04 to USD 39.41 while Brent crude for October eased 91 cents to USD 44.55. WTI extended losses after briefly dipping to USD 39.86 on Friday in New York -- breaking USD 40 for the first time in six years after data showed an increase in US oil rigs despite ample global supplies. "Soft manufacturing data from China and continued increase in weekly rig count led to the sharp sell-off" in oil prices, said Sanjeev Gupta, head of the Asia-Pacific oil and gas practice at consultancy EY. A much weaker-than-expected manufacturing report on Friday also added to concerns energy demand is also waning in China. 

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Sensex is up 144.42 points or 0.5 percent at 27656.68

The devaluation of the yuan should not be seen as a sign of China wanting to wage a currency war, but it is more to do with China's ambitions to facilitate yuan's inclusion in Special Drawing Rights (SDR), says Dennis Tan, Fx Strategist, Barclays. He adds that it should be seen more as a liberalisation or a reform measure to improve he fixing mechanism so that it reflects the market rates. 11:40 am Market check: The Sensex is up 144.42 points or 0.5 percent at 27656.68 and the Nifty is up 44.05 points or 0.5 percent at 8393.50. About 1347 shares have advanced, 1073 shares declined, and 127 shares are unchanged. Cipla, Bharti Airtel, Lupin, Cipla, SBI and Coal India are top gainers in the Sensex. Among the losers are Vedanta, Tata Steel, Hindalco, GAIL and Wipro. 11:30 am Nestle India: Bombay High Court has set aside FSSAI order banning Maggi noodles. However, Nestle will not manufacture or sell Maggi till testing is completed. The stock is up 5 percent. Don't miss: India's rates too high; will draw hot money amid falling yuan: Fin Secy The market has bounced back after four days of losses led higher by the bank Nifty as global markets stabilised and sentiment is boosted by the CPI data for July that came in much better than estimates at 3.78 percent versus 5.4 percent in June. Rupee, however, slipped to the day's low after a decent start. The Sensex is up 129.66 points or 0.5 percent at 27641.92, and the Nifty up 38.25 points or 0.5 percent at 8387.70. About 1311 shares have advanced, 980 shares declined, and 117 shares are unchanged. Bharti Airtel, Cipla, Lupin, SBI and Hero MotoCorp are top gainers in the Sensex. Among the losers are Tata Steel, Vedanta, GAIL, Hindalco and Wipro. China's central bank said that there was no basis for further depreciation in the yuan given strong economic fundamentals, in a bid to reassure jittery global markets after it devalued the currency earlier in the week. As the yuan fell for the third straight day, the People's Bank of China (PBOC) said the country's strong economic environment, sustained trade surplus, sound fiscal position and deep foreign exchange reserves provided "strong support" to the exchange rate. China's decision to devalue the currency on Tuesday by pushing its official guidance rate down 2 percent sparked fears of a "currency war" and roiled global financial markets, dragging other Asian currencies to multi-year lows.

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