Sensex ends 274 points lower, Nifty50 below 7,650; Vedanta sheds 5%, Tata Steel 3%

Stock Market Upadtes - The Domestic equity market saw a fresh bout of selling on Wednesday as investors grew increasingly concerned about a possible delay in the passage of the goods and services tax (GST) bill and the slump in crude oil prices. Market watchers may already be preparing themselves for another session of no-action on the GST front.

The S&P BSE Sensex slipped 274 points, or 1.08 per cent, to close at 25,036 while the 50-stock barometer Nifty50 ended at 7,612, down 89 points, or 1.12 per cent. Vedanta and Tata Steel were the top losers in the BSE benchmark.
 

Sensex: 25026.19, down 284 points; Nifty50: 7610.75, down 90 points


Top Gainers:
 

BHEL (2.2%), TCS (1.5%), ITC (0.7%), ONGC (0.4%)
 

Top Losers:
 

VEDANTA (5.7%), TATA STEEL (3.4%), COAL INDIA (3.2%), HINDALCO (3.2%), BAJAJ AUTO (2.7%)

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 

 

Read More - Nifty tips.

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 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.

Read More - Nifty Updates 

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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