The market has been in struggle zone after it surged to new highs intra-day last week after a surprise rate hike. The Nifty and Bank Nifty are finding it difficult to even close in the green.
The market has been in struggle zone after it surged to new highs intra-day last week after a surprise rate hike. The Nifty and Bank Nifty are finding it difficult to even close in the green. The strengthening of the dollar has been taking its toll on most emerging markets too. Commodities are going for a toss and a surging US dollar has pulled oil prices on Tuesday to their lowest settlement for the month of March.
The outlook is a weak start. Sentiment could improve as Asian markets are staging a recovery. Nifty support is at 8640 levels. Global cues are subdued again. Dow crashed 1.85% while S&P slumped 1.7%. Nasdaq was down 1.67%. Asian market are mixed again with Nikkei higher and Hong Kong's Hang Seng lower. China's Shanghai index is also higher.
The Lok Sabha passed the land acquisition Bill on Tuesday but things could get difficult in the Rajya Sabha. The Opposition has stalled passage of the mines & minerals Bill. Housing companies and infra firms will be in focus. Reforms could take a back seat as Opposition is set to stall the government’s plan to call for a joint sitting.
The country’s current account deficit (CAD) narrowed to USD 8.2bn or 1.6 percent of GDP in Q3 of 2014-15 from USD 10.1 billion or 2 percent of GDP in Q2. The reduction in the CAD in Q3 2014-15 was primarily on account of net exports of services which picked up in q-o-q terms on the back of an improvement in net earnings.
Maruti Suzuki could shed weight as it is recalling over 33,000 units of the Alto to fix a problem with the right-hand door.
In a first, bid levels for the spectrum auction fell by around Rs 2,000 crore to close Tuesday at Rs 92,000 crore, as steep prices in the key 900 Mhz band forced operators to reduce the amount of airwaves they were vying for, thus leaving some spectrum unsold and reducing revenue assured for the government, says a report.
Cairn Energy said it is engaged with the Indian Government to resolve a tax dispute that has stalled sale of its 10 per cent stake in Cairn India Ltd and led to 40 per cent job cuts.
According to SIAM data, the domestic passenger car sales was up by 6.85% to 1,71,727 units in February this year. The motorcycle sales in last month were down by 8.22% to 7,74,122 units from 8,43,436 units in the same month
previous year, SIAM data says.
L&T’s Metallurgical and Material Handling (L&T-MMH) business has secured orders worth Rs 1242 crores across various business segments during Q4 of FY 14-15.
Bharti Airtel stock hits 10% upper circuit at Rs. 369. Bharti Airtel is planning to double its 4G network by next fiscal, according to a media report.
Shares of Persistent Systems was trading lower by 9% at Rs. 848 after company turned ex-bonus.The company announced a 1:1 bonus recently.
Adani Enterprises surged to a high of Rs. 680 on hopes of striking more deals for supply of coal to overseas mines.
ITC stock ended flat at Rs. 338 on reports that company is scouting for more acquisitions to scale up its non-cigarette fast-moving consumer goods (FMCG) business.
TCS has extended its south-bound journey for the fourth straight trading session today. The stock was down 0.01% at Rs. 2642.
Jubilant Industries has jumped 20% its maximum daily upper limit at Rs. 81 on the back of heavy volume at the NSE counter.
KNR Constructions Ltd stock was up 2% at Rs. 450 after company has received its First International Orders worth of Rs. 515.33 Crores.
Shares of HSIL was flat at Rs 412 after the company announced the QIP issue price at Rs. 412.53 per equity share.
Ashoka Buildcon is reportedly panning to buy out a controlling stake in Jaora Nayagaon Toll Project in Madhya Pradesh, according to a television report. The stock ended 3% lower at Rs174.
Monnet Ispat and Energy stock rallied 9% at Rs. 71.Report said that the company is planning to sell some stake in its power generation subsidiary to fuel expansion plans and future growth, company's Chairman and Managing Director Sandeep Jajodia said.
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