The market recouped early losses and rebounded into the positive note, as the bulls were back in action. The key headline indices rallied to a fresh intra-day high at 27,877 and 8,398, respectively. Now, the BSE Sensex is up almost 142 points at 27,872 and the NSE Nifty has added 40 points at 8,393. The broader market is out-performing the BSE benchmark index, the Midcap and Smallcap indices have gained over 0.5 percent each at 10,717 and 11,175, respectively. Sectorwise, the BSE Metal index has jumped 2 percent at 9,533. The Capital Good index spurted 1.4 percent at 17,486. The Oil & Gas and Realty indices have also advanced over a percent each at 9,997 and 1,436, respectively. The Healthcare, Auto, Bankex and Power indices are the other gainers - up over 0.5 percent each. The BSE IT index has bucked the trend, and is down 0.4 percent at 10,789. In the Metal space - Jindal Steel has soared 4 percent to Rs. 95.45. Coal India has surged 3.3 percent at Rs. 413. Hindalco jumped over 2.5 percent at Rs. 124. Tata Steel has spurted nearly 2 percent at Rs. 316. SAIL, Vedanta and Hindustan Zinc are the other prominent gainers. National Aluminium, however, is down 0.2 percent at Rs. 42.85.
Tuesday 23 June 2015
Nifty above 8,300 levels
Following strong rally in the past seven trading session, the market today started the day on a tentative note amid mixed global cues.
The BSE Sensex opened with a marginal gain of 30-points at 27,760 and the NSE Nifty added 24 points at 8,377.
The key benchmark indices touched a high at 27,840 and 8,383, but could not hold gains for a long and slipped into the negative zone, on account of profit-booking at higher levels.
The BSE Sensex is now up 92 points at 27,822 and the NSE Nifty is up 32 points at 8,385. In the broader market, the CNX Midcap and Smallcap indices are flat at 13,051 and 5,379, respectively.
The Volatility index - India VIX - is now up 2 percent at 15.81. Among sectors, the CNX Auto, FMCG, IT and Finance indices are down 0.3 percent each, while the PSU Bank index has gained almost a percent at 3,322 and the Metal index has added 0.2 percent at 2,293.
In the Nifty space - Tata Power and Infosys have dropped 1.5 percent each at Rs. 73.35 and Rs. 1,009, respectively.
Gail India, Idea Cellular, Axis Bank and ITC have shed over a percent each. On the other hand, Punjab National Bank has surged almost 3 percent at Rs. 142.
Hindalco and Bharti Airtel have jumped 1.4-1.5 percent each at Rs. 123 and Rs. 431, respectively.
HCL Technologies, Bank of Baroda, Larsen & Toubro, Cipla and Coal India are the other prominent gainers.
The BSE Sensex opened with a marginal gain of 30-points at 27,760 and the NSE Nifty added 24 points at 8,377.
The key benchmark indices touched a high at 27,840 and 8,383, but could not hold gains for a long and slipped into the negative zone, on account of profit-booking at higher levels.
The BSE Sensex is now up 92 points at 27,822 and the NSE Nifty is up 32 points at 8,385. In the broader market, the CNX Midcap and Smallcap indices are flat at 13,051 and 5,379, respectively.
The Volatility index - India VIX - is now up 2 percent at 15.81. Among sectors, the CNX Auto, FMCG, IT and Finance indices are down 0.3 percent each, while the PSU Bank index has gained almost a percent at 3,322 and the Metal index has added 0.2 percent at 2,293.
In the Nifty space - Tata Power and Infosys have dropped 1.5 percent each at Rs. 73.35 and Rs. 1,009, respectively.
Gail India, Idea Cellular, Axis Bank and ITC have shed over a percent each. On the other hand, Punjab National Bank has surged almost 3 percent at Rs. 142.
Hindalco and Bharti Airtel have jumped 1.4-1.5 percent each at Rs. 123 and Rs. 431, respectively.
HCL Technologies, Bank of Baroda, Larsen & Toubro, Cipla and Coal India are the other prominent gainers.
Top corporate news of the day- June 23, 2015
City Union Bank Ltd is looking at raising around Rs5bn through Qualified Institutions Placement (QIP) as part of its business growth plans.
Bank of Baroda (BoB) is making a course correction in its strategy for overseas business. While it prides itself as "India's international bank", its branch presence in India's neighborhood has been weak.
JSW Steel, an integrated low-cost steel producer, is planning to drastically reduce import of iron ore during 2015-16 to feed its furnaces in Karnataka, Maharashtra and Tamil Nadu as the domestic iron ore production is set to increase this year.
Blue Dart Express said it has become a majority shareholder in Blue Dart Aviation after purchasing additional 21% stake.
Wockhardt has received approval from the US health regulator to market its Oxycodone HCl liquid, used for treating chronic pain, in the American market.
RIL said its subsidiary Reliance Jio Media has received provisional registration from the government to operate as multi service operator at pan-India level in digital cable TVspace.
Aurobindo Pharma has received final approval from the US Food and Drug Administration (USFDA) to manufacture and market Entacapone tablets and Azithromycin injection.
The Centre has so far transferred the environment clearance (EC) of 19 coal blocks out of approved 29 mines from the earlier allottees to the new successful bidders including JSW Steel, GMR Chhattisgarh Energy, Jaypee Cement and Ambuja Cements among others.
In order to tap into the booming e-commerce market in India, ICICI Bank, has tied up with Chinese e-commerce giant Alibaba to provide easier trade finance to small and medium enterprises in the country.
State Bank of India plans to launch its second dollar bond sale of the fiscal year to raise US$1.5 bn, or even more, to utilise the window available to borrow at a lower cost before the US Federal Reserve possibly raises rates later this yea. Hero Electronix will acquire a majority shareholding in Mybox Technologies , the largest multi operator manufacturer of set top boxes in the country.
Larsen & Toubro (L&T) said it has won orders worth Rs 15.07bn across various business verticals.
Bank of Baroda (BoB) is making a course correction in its strategy for overseas business. While it prides itself as "India's international bank", its branch presence in India's neighborhood has been weak.
JSW Steel, an integrated low-cost steel producer, is planning to drastically reduce import of iron ore during 2015-16 to feed its furnaces in Karnataka, Maharashtra and Tamil Nadu as the domestic iron ore production is set to increase this year.
Blue Dart Express said it has become a majority shareholder in Blue Dart Aviation after purchasing additional 21% stake.
Wockhardt has received approval from the US health regulator to market its Oxycodone HCl liquid, used for treating chronic pain, in the American market.
RIL said its subsidiary Reliance Jio Media has received provisional registration from the government to operate as multi service operator at pan-India level in digital cable TVspace.
Aurobindo Pharma has received final approval from the US Food and Drug Administration (USFDA) to manufacture and market Entacapone tablets and Azithromycin injection.
The Centre has so far transferred the environment clearance (EC) of 19 coal blocks out of approved 29 mines from the earlier allottees to the new successful bidders including JSW Steel, GMR Chhattisgarh Energy, Jaypee Cement and Ambuja Cements among others.
In order to tap into the booming e-commerce market in India, ICICI Bank, has tied up with Chinese e-commerce giant Alibaba to provide easier trade finance to small and medium enterprises in the country.
State Bank of India plans to launch its second dollar bond sale of the fiscal year to raise US$1.5 bn, or even more, to utilise the window available to borrow at a lower cost before the US Federal Reserve possibly raises rates later this yea. Hero Electronix will acquire a majority shareholding in Mybox Technologies , the largest multi operator manufacturer of set top boxes in the country.
Larsen & Toubro (L&T) said it has won orders worth Rs 15.07bn across various business verticals.
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