The Market Has Extended losses Nifty is nearing 7850

 

Free Nifty Tips - The market has extended losses the Nifty is nearing 7850. The 50-share is down 46.55 points or 0.6 percent at 7884.80. The Sensex is down 157.79 points or 0.6 percent at 25960.06. About 1186 shares have advanced, 1087 shares declined, and 113 shares are unchanged.

Tata Steel, GAIL, Cipla, ITC and HUL are major laggards in the Sensex. Among gainers are NTPC,GAIL,Reliance,L&TandAxisBank.

The broader markets were marginally in red. The 30-share BSE Sensex fell 127.15 points to 25990.70 and the 50-share NSE Nifty declined 40.50 points to 7890.85. Asian stocks traded lower after US oil prices fell below USD 40 per barrel for the first time since August. A sell-off in US stocks sped up in late afternoon trade, after WTI crude settled USD 1.91 lower, or 4.6 percent, at USD 39.94 a barrel. Government data showed a tenth straight week of inventory build-up, adding to worries over a supply glut.

Shares of ITC, Lupin, Tata Motors, ONGC, HUL, Cipla, Dr Reddy's Labs and Tata Steel were down 1-2 percent.

Sensex rallies over 200 points; Nifty reclaims 8,300

The S&P BSE Sensex surged over 200 points in trade on Friday following positive trend seen in other Asian markets.
 

The Nifty50 surged over its crucial psychological level of 8,300.


The shares of KPIT Technologies surged over 15 per cent. Wipro slipped about 2 per cent post muted Q2 numbers.


The rally on the benchmark indices also spread to the broader markets, with the BSE midcap and BSE smallcap index gaining 0.6 per cent each.
 

The BSE oil & gas and BSE Bankex led the rally on the indices, both edging higher by 1.32 per cent each.
 

ICICI Bank and SBI were the top BSE Bankex gainers, up 2.1 and 1.85 per cent, respectively. The top contributors on the BSE Oil & Gas index were Cairn India and ONGC.

The Rupee appreciated by 34 paise to 64.78 against the dollar in early trade on Friday. The domestic currency had fallen by 7 paise to close at 65.12 against the US currency on Wednesday. The currency market was closed on Thursday on account of Dussehra.

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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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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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