The bulls continue to dominate the proceedings on the Dalal Street as market remain hopeful of positive economic measures in the near term. The key benchmark indices are on a north-bound journey since the start of trading session this morning. At 1.37 PM, the S&P BSE Sensex is trading at 27,912 up 405 points, while NSE Nifty is trading at 8,405 up 121 points. Private finance majors - HDFC, ICICI Bank and HDFC Bank collectively have contributed 175 points to the Sensex rally. The broader market also trading on a buoyant note, with the CNX Midcap and the Smallcap indices up over a per cent each at 12,756 and 5,386, respectively. The Bank Nifty has surged nearly 2 per cent to a fresh all-time high at 19,103. Jindal Steel is the major gainer in the Nifty 50 stocks, up nearly 5 per cent at Rs. 164. HDFC and Asian Paints have rallied nearly 4 per cent each to Rs. 1,167 and Rs. 777, respectively. BHEL, ICICI Bank and UltraTech Cement have advanced nearly 3 per cent each to Rs. 276, Rs. 362 and Rs. 2,736, respectively. Tata Motors and Axis Bank have gained around 2.5 per cent each at Rs. 511 and Rs. 515, respectively. Larsen & Toubro, ONGC and Grasim have added 2 per cent each. Infosys is up 1.8 per cent at Rs. 2,010. BPCL, however, is down over a per cent at Rs. 647. Mahindra & Mahindra and NMDC are the other notable losers
Friday 2 January 2015
Sensex jumps 300 points...Nifty nears 8,400 levels
At 11:30AM, the S&P BSE Sensex is trading at 27,828 up 321 points, while NSE Nifty is trading at 8,374 up 90 points.
The BSE Mid-cap Index and BSE Small-cap Index was trading up at 1%.
Auto, Consumer Durables, Power, banking, capital goods, FMCG, Oil and gas indices are the gainers, while healthcare metal, realty indices are losers.
BHEL, COALINDIA, ONGC, Tata Motors, Tata Steel, TCS are among the gainers, whereas M&M, Hero Motocorp are losing sheen on BSE.
US markets were closed on account of New Year holiday and Asian markets are mostly closed today too. Hang Seng index is trading marginally higher.
The focus will be on Gyan Sangam - a two-day Bankers’ Retreat in Pune which will deliberate on PSU Bank issues including rethinking of priority sector lending and improving risk management, asset quality and recovery among others and in attendance would be the Prime Minister, Finance Minister and Reserve Bank Governor. Meanwhile, ICICI Bank has reportedly hiked interest rates on wholesale term deposits by 15 bps.
The Price of non-subsidised cooking gas (LPG) was reduced by Rs 43.50 per cylinder. A 14.2-kg cylinder of non-subsidised LPG will cost Rs 708.50, down from Rs 752 previously, in Delhi, oil companies reportedly said.
As per news reports, the government of India has taken a decision to split the post of chairman and managing director at public sector banks (PSBs).The finance ministry has appointed chief executive officers (CEOs) of four banks, while confirmed that non-executive chairman would be declared shortly.
According to reports, Home buyers in Mumbai will have to pay more after Maharashtra government sharply increased government rates used to calculate taxes paid by consumers when purchasing property.
Shares of Jet Airways is up 4% at Rs434 after oil marketing companies slashed Aviation Turbine Fuel (ATF) prices by 12.5%.
The BSE Mid-cap Index and BSE Small-cap Index was trading up at 1%.
Auto, Consumer Durables, Power, banking, capital goods, FMCG, Oil and gas indices are the gainers, while healthcare metal, realty indices are losers.
BHEL, COALINDIA, ONGC, Tata Motors, Tata Steel, TCS are among the gainers, whereas M&M, Hero Motocorp are losing sheen on BSE.
US markets were closed on account of New Year holiday and Asian markets are mostly closed today too. Hang Seng index is trading marginally higher.
The focus will be on Gyan Sangam - a two-day Bankers’ Retreat in Pune which will deliberate on PSU Bank issues including rethinking of priority sector lending and improving risk management, asset quality and recovery among others and in attendance would be the Prime Minister, Finance Minister and Reserve Bank Governor. Meanwhile, ICICI Bank has reportedly hiked interest rates on wholesale term deposits by 15 bps.
The Price of non-subsidised cooking gas (LPG) was reduced by Rs 43.50 per cylinder. A 14.2-kg cylinder of non-subsidised LPG will cost Rs 708.50, down from Rs 752 previously, in Delhi, oil companies reportedly said.
As per news reports, the government of India has taken a decision to split the post of chairman and managing director at public sector banks (PSBs).The finance ministry has appointed chief executive officers (CEOs) of four banks, while confirmed that non-executive chairman would be declared shortly.
According to reports, Home buyers in Mumbai will have to pay more after Maharashtra government sharply increased government rates used to calculate taxes paid by consumers when purchasing property.
Shares of Jet Airways is up 4% at Rs434 after oil marketing companies slashed Aviation Turbine Fuel (ATF) prices by 12.5%.
Top corporate news of the day - January 02, 2015
SRF Ltd has signed an agreement to buy out US-based DuPont’s medical pharmaceutical propellant business for $20mn.
Tata Steel to resume mining in Jharkhand in 2-3 days. A day after Jharkhand Government’s assurance to initiate steps to renew Tata Steel’s iron ore mine, the company expressed hope that mining activities would be resumed in a couple of days.
Jindal Stainless Ltd has decided to go in for a restructuring and asset monetization programme to pare debt.
Coromandel International formally completed the process of amalgamation of Sabero Organics Gujarat Ltd with itself.
Wipro Enterprises will seek nod from its members to reduce share capital to provide an exit option to non-promoter shareholders.
Lupin announced that it has received a tentative approval from the US Food and Drug Administration to market a generic version of the Prezista tablets, which are used for the treatment of HIV-1 infections.
Tata Group will invest in research and development of new technologies that will help its companies chart out their strategies to deal with the challenges in an evolving market.
Manappuram Finance, with a market share of around 12% in the gold loan business, might acquire a commercial vehicles loan company, in a bid to expand their portfolio.
The Hindusthan Shipyard Ltd, BHEL and Midhani have signed a memorandum of understanding to form a consortium and make a bid for the contract to construct six submarines for the Indian Navy indigenously.
Snapdeal said 2014 had been a "phenomenal" year for the homegrown online marketplace and more than 65% of orders placed came through mobile devices.
Tata Steel to resume mining in Jharkhand in 2-3 days. A day after Jharkhand Government’s assurance to initiate steps to renew Tata Steel’s iron ore mine, the company expressed hope that mining activities would be resumed in a couple of days.
Jindal Stainless Ltd has decided to go in for a restructuring and asset monetization programme to pare debt.
Coromandel International formally completed the process of amalgamation of Sabero Organics Gujarat Ltd with itself.
Wipro Enterprises will seek nod from its members to reduce share capital to provide an exit option to non-promoter shareholders.
Lupin announced that it has received a tentative approval from the US Food and Drug Administration to market a generic version of the Prezista tablets, which are used for the treatment of HIV-1 infections.
Tata Group will invest in research and development of new technologies that will help its companies chart out their strategies to deal with the challenges in an evolving market.
Manappuram Finance, with a market share of around 12% in the gold loan business, might acquire a commercial vehicles loan company, in a bid to expand their portfolio.
The Hindusthan Shipyard Ltd, BHEL and Midhani have signed a memorandum of understanding to form a consortium and make a bid for the contract to construct six submarines for the Indian Navy indigenously.
Snapdeal said 2014 had been a "phenomenal" year for the homegrown online marketplace and more than 65% of orders placed came through mobile devices.
Top economic news of the day - January 02, 2015
The government raised excise duty on petrol and diesel by Rs.2 per litre each but retail pump rates will not be increased.
The Road Transport and Highways Minister has said that electronic toll collection system introduced in the country will help save Rs.880bn and cut waiting time at toll plazas significantly.
RBI extended the deadline for submission of applications for licensing of Small Finance Banks and Payments Banks to February 2 and clarified that a minimum capital of Rs.1000mn is must for setting niche banking entities.
The Road Transport and Highways Minister has said that electronic toll collection system introduced in the country will help save Rs.880bn and cut waiting time at toll plazas significantly.
RBI extended the deadline for submission of applications for licensing of Small Finance Banks and Payments Banks to February 2 and clarified that a minimum capital of Rs.1000mn is must for setting niche banking entities.
Sensex surges 100 points...Nifty above 8,300 levels
At 9:17AM, the S&P BSE Sensex is trading at 27,656 up 148 points, while NSE Nifty is trading at 8,316 up 32 points.
The BSE Mid-cap Index and BSE Small-cap Index was trading flat.
Auto, Consumer Durables, Power, banking, capital goods, FMCG, healthcare metal, realty, Oil and gas indices are the gainers.
BHEL, COALINDIA, ONGC, Tata Motors, Tata Steel, TCS are among the gainers, whereas M&M, Hero Motocorp are losing sheen on BSE.
US markets were closed on account of New Year holiday and Asian markets are mostly closed today too. Hang Seng index is trading marginally higher.
The focus today will be on Gyan Sangam - a two-day Bankers’ Retreat in Pune which will deliberate on PSU Bank issues including rethinking of priority sector lending and improving risk management, asset quality and recovery among others and in attendance would be the Prime Minister, Finance Minister and Reserve Bank Governor. Meanwhile, ICICI Bank has reportedly hiked interest rates on wholesale term deposits by 15 bps.
How OMCs behave today will be interesting after the government increased excise duty on diesel and petrol by Rs 2 a litre. The proceeds would be used to build roads.
The Price of non-subsidised cooking gas (LPG) was reduced by Rs 43.50 per cylinder. A 14.2-kg cylinder of non-subsidised LPG will cost Rs 708.50, down from Rs 752 previously, in Delhi, oil companies reportedly said.
As per news reports, the government of India has taken a decision to split the post of chairman and managing director at public sector banks (PSBs).The finance ministry has appointed chief executive officers (CEOs) of four banks, while confirmed that non-executive chairman would be declared shortly.
According to reports, Home buyers in Mumbai will have to pay more after Maharashtra government sharply increased government rates used to calculate taxes paid by consumers when purchasing property.
The BSE Mid-cap Index and BSE Small-cap Index was trading flat.
Auto, Consumer Durables, Power, banking, capital goods, FMCG, healthcare metal, realty, Oil and gas indices are the gainers.
BHEL, COALINDIA, ONGC, Tata Motors, Tata Steel, TCS are among the gainers, whereas M&M, Hero Motocorp are losing sheen on BSE.
US markets were closed on account of New Year holiday and Asian markets are mostly closed today too. Hang Seng index is trading marginally higher.
The focus today will be on Gyan Sangam - a two-day Bankers’ Retreat in Pune which will deliberate on PSU Bank issues including rethinking of priority sector lending and improving risk management, asset quality and recovery among others and in attendance would be the Prime Minister, Finance Minister and Reserve Bank Governor. Meanwhile, ICICI Bank has reportedly hiked interest rates on wholesale term deposits by 15 bps.
How OMCs behave today will be interesting after the government increased excise duty on diesel and petrol by Rs 2 a litre. The proceeds would be used to build roads.
The Price of non-subsidised cooking gas (LPG) was reduced by Rs 43.50 per cylinder. A 14.2-kg cylinder of non-subsidised LPG will cost Rs 708.50, down from Rs 752 previously, in Delhi, oil companies reportedly said.
As per news reports, the government of India has taken a decision to split the post of chairman and managing director at public sector banks (PSBs).The finance ministry has appointed chief executive officers (CEOs) of four banks, while confirmed that non-executive chairman would be declared shortly.
According to reports, Home buyers in Mumbai will have to pay more after Maharashtra government sharply increased government rates used to calculate taxes paid by consumers when purchasing property.
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