Monday 5 January 2015

Nifty above 8,400 levels

At 9:19AM, the S&P BSE Sensex is trading at 27,973 up 85 points, while NSE Nifty is trading at 8,420 up 25 points.

The BSE Mid-cap Index and BSE Small-cap Index was trading up at 1%.

Auto, Consumer Durables, Power, banking, capital goods, healthcare, metal, FMCG, PSUs indices are the gainers, while Realty and Oil and gas indices are losers.

GAIL, BHEL, COALINDIA,SUNPHARMA,TATASTEEL, Reliance, Hindalco are among the gainers, whereas HDFC Bank, Infosys, Axis Bank, HUL are losing sheen on BSE.

FII activity will be closely eyed considering that they brought in a little over Rs. 2,100 crore in Indian market in December. This is its lowest investment in 10 months. The total investment by FIIs for 2014 was ~ Rs. 98,000 crore.

The government may ask public sector banks to each form a separate holding company to hold its stake as well as the banks' stakes in their various subsidiaries, a report stated.

The BSE has increased the tick size of stocks and Sensex futures. Stocks only listed on the BSE quoting between a price range of Rs 500 and Rs 2,000 will see minimum rise and fall in price of Rs 0.25 instead of the current Rs 0.10, a report stated.

Meanwhile, the BSE has decided to transfer scrips of ~45 companies to the restricted trading segment from January 6. These include companies like White Diamond Industries, South Asian Enterprises, Adi Rasayan and Chambal Breweries & Distilleries Ltd.

Corporation Bank has reportedly invited bids for its proposal to issue unsecured non-convertible (Basel III compliant) additional tier-1 perpetual bond in the nature of debentures.

Arvind Panagariya is likely to be appointed Vice Chairman of the revamped Planning Commission, which has been named NITI (National Institution for Transforming India) Aayog, according to reports. Report said that the Vice Chairman of NITI Aayog will be given Cabinet rank.

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