Thursday 6 August 2015

Sensex, Nifty Likely to Open in Red

9:10 a.m.: The Sensex was up 69 points at 28,292 and the Nifty advanced 18 points to 8,585 in the pre-market session.

9:05 a.m.: If Nifty corrects to 8,450 then one should buy out of the money call options, says Gaurav Bissa derivatives analyst with LKP Securities.

9:00 a.m.: Rupee opens lower at 63.77 per dollar against Wednesday's close of 63.74.

8:40 a.m.: Below are the stocks which will be in focus today:

Tata Power: Tata Power in its annual reports said that it is looking at buying stressed assets. The company sees opportunity in power, renewable & distribution business. Tata Power would raise generation capacity to 18,000 megawatts (MW) by 2022 from the current 8,750MW.

Tata Motors: Tata Motors plans to launch new JLR product. Jaguar land rover will introduce all-new XF sedan in autumn 2015. JLR will also introduce world's first convertible SUV in 2016.

Tata Steel: Tata Steel's captive coal mining leases in Odisha have been extended till 2030.

ICICI Bank: ICICI Bank has raised $500 million in dollar bonds. The issue opened early on Wednesday and closed during European late evening hours. The bank has issued 5 year fixed rate notes.

Dr Reddy's Labs: Reports suggest that Dr Reddy's Labs aims to grow Europe business and is looking for acquisitions. Currently, Europe contributes only 4% of the revenue.

Nestle: FSSAI has clarified that clean chit has not been given to Maggi noodles and CFTRI lab has not yet tested Maggi for MSG.

Jagran Prakashan, HT Media and ENIL: Government's FM radio auction bids touched Rs 869 crore by day 8. As of now, 28 rounds of bidding have been completed.

8:35 a.m.: The mid-cap stocks have been in limelight since quite some time now. The CNX mid-cap index has been registering new all-time high levels in the last couple of days. The mid-cap index has rallied 6 per cent in the last six trading sessions.

8:30 a.m.: Global IT firm, Cognizant reported stronger-than-expected quarterly revenue and profit, as its business that serves the healthcare industry led the company's growth for the third quarter in a row.

Cognizant's results are positive for the Indian IT companies as it reflects positive outlook for the overall IT industry.

8:20 a.m.: Pension money will be invested in stock markets from today. Initially the investment will be made in Exchange Traded Funds only.

8:15 a.m.: Foreign institutional investors purchased shares worth Rs 447.9 crore while the domestic institutional investors sold shares worth Rs 189.11 crore.

8:00 a.m.: The Sensex and Nifty are likely to edge lower in the opening deals tracking subdued trading of Nifty on the Singapore Stock Exchange. The Nifty traded on the Singapore Stock Exchange also known as the SGX Nifty was down 0.1 per cent at 8,583.

Meanwhile, other Asian markets were trading on a mixed note. The Hang Seng slipped 0.4 per cent, Shanghai Composite advanced 0.5 per cent and Nikkei was up 0.8 per cent.

Overnight, the S&P 500 and Nasdaq Composite rose on Wednesday following three days of losses as tech shares advanced, while the blue-chip Dow index ticked lower, weighed by Disney's largest daily drop in almost seven years.

The Dow Jones industrial average fell 10.22 points, or 0.06 per cent, to 17,540.47; the S&P 500 gained 6.52 points, or 0.31 per cent, to 2,099.84; and the Nasdaq Composite added 34.40 points, or 0.67 per cent, to 5,139.95. 

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