The Indian equity market before going for a long weekend posted decent gains on hopes of good economic growth. The Nifty reclaimed its crucial psychological level of 8,850 supported by gains in realty, oil & gas, consumer durable, capital goods, banks, and auto stocks.
The BSE Sensex hits 52-week high and trading over 250 points. The Bank Nifty touches 20,000 first time since March 4, 2015.
At 11:25 AM, the S&P BSE Sensex is trading at 28,809 up 277 points, while NSE Nifty is trading at 8,893 up 84 points.
The BSE Mid-cap Index is trading up 1.30% at 13,402 whereas BSE Small-cap Index is trading up 0.82% at 12,747.
Axis Bank, Tata Motors, Maruti Suzuki, Infosys, L&T and SBI are among the gainers, whereas Bharti Airtel, Coal India, Jubilant FoodWorks, MindTree and Idea Cellular are losing sheen on BSE.
Some buying activity is seen in auto, industrial, finance, banking, capital goods, realty and FMCG sectors, while telecom sector is showing weakness on BSE.
The INDIA VIX is up 0.90% at 13.0575. Out of 1,858 stocks traded on the NSE, 425 declined, 1,115advanced and 318 remained unchanged today.
A total of 93 stocks registered a fresh 52-week high in trades today, while 22 stocks touched a new 52-week low on the NSE.
Tata Motors Ltd is currently trading at Rs. 566.55, up by Rs. 16.75 or 3.05% from its previous closing of Rs. 549.8 on the BSE. Jaguar Land Rover, the British luxury vehicle unit of Tata Motors, is planning to make Land Rover SUVs in India for the local market and exports, as per media reports.
Jubilant Foodworks Ltd is currently trading at Rs. 1081, down by Rs. 99.15 or 8.4% from its previous closing of Rs. 1180.15 on the BSE. The company has posted a net profit of Rs.19 crore for the quarter ended June 30, 2016 as compared to Rs.27.6 crore for the quarter ended June 30, 2015.
Mindtree Ltd is currently trading at Rs. 513, down by Rs. 36.9 or 6.71% from its previous closing of Rs. 549.9 on the BSE. The IT Company has issued a profit and revenue warning, impacted primarily due to cross-currency movement and Brexit.
Ahluwalia Contracts (India) Ltd is currently trading at Rs. 328.3, up by Rs. 31.1 or 10.46% from its previous closing of Rs. 297.2 on the BSE. The company has secured new order aggregating to Rs.244.13 crore in Kolkata. The total order inflow during the FY16-17 stands at Rs.1209.59 crores.
Pennar Engineered Building Systems Limited, one of India’s largest provider or custom designed building solutions is glad to announce order booking of Rs.203 Crores.
Welspun India Ltd is currently trading at Rs. 56.45, up by Rs. 2.65 or 4.93% from its previous closing of Rs. 53.8 on the BSE.
Scooters India Ltd is currently trading at Rs. 33.45, up by Rs. 1.55 or 4.86% from its previous closing of Rs. 31.9 on the BSE. Heavy Industries Ministry will soon seek an in-principle approval for disinvesting government’s stake in loss making automaker followed by preparing a detailed Cabinet proposal for implementing the government’s decision.
SPML Infra Ltd is currently trading at Rs. 85.45, up by Rs. 7.55 or 9.69% from its previous closing of Rs. 77.9 on the BSE.The Union Cabinet decision that requires Government agencies to pay 75% of arbitral awards will result in SPML’s debt being reduced significantly.
The rupee opened higher by 29 paise at 66.53/$ against US Dollar Tuesday as against the previous close of 66.82/$. The rupee opened at highest level since May 9 against US Dollar.
Asian shares opened mixed on Tuesday as investors look ahead to the Reserve Bank of Australia’s rate-setting meeting. Nikkei 225 and Hang Seng are trading in green, while Shanghai Composite is in red. Wall Street closed higher on Monday.
At G20, Prime Minister Modi has sought the removal of obstacles to effective financial governance which include elimination of safe havens for economic offenders and ending excessive banking secrecy.
Crude prices surged after Russia and Saudi Arabia are said to have agreed to take measures to stabilise the oil market.
Mutual funds have pumped in over Rs.2,700 crore in equity market in Aug. FPIs put in over Rs.9700 crore and expectations are that September, which has historically seen inflows, will be continue the trend of money moving into Indian equities.
US markets were shut on Monday for the labor day public holiday. U.S. nonfarm payrolls rose by 151,000 jobs in August after an upwardly revised 275,000 increase in July, with job cuts in manufacturing and construction, the Labor Department said.
Urjit Patel has assumed charge as the 24th governor of Reserve Bank of India (RBI), succeeding Raghuram Rajan whose three-year controversy-ridden tenure ended on Sunday. Patel has assumed charge effective from Sunday after serving as deputy governor since January 2013, RBI said.
The Nikkei India Services Purchasing Managers’ Index (PMI), which tracks changes in activity at services sector companies on a monthly basis, stood at 54.7 in August, up from 51.9 in July, registering an expansion in each of the past 14 months.
The combined market valuation of seven of the top-10 firms surged by Rs.41,687 crore last week, with HDFC andITC emerging as the biggest gainers. The market valuation of HDFC advanced by Rs.11,309.5 crore to Rs.2,27,624.66 crore.
The BSE Sensex hits 52-week high and trading over 250 points. The Bank Nifty touches 20,000 first time since March 4, 2015.
At 11:25 AM, the S&P BSE Sensex is trading at 28,809 up 277 points, while NSE Nifty is trading at 8,893 up 84 points.
The BSE Mid-cap Index is trading up 1.30% at 13,402 whereas BSE Small-cap Index is trading up 0.82% at 12,747.
Axis Bank, Tata Motors, Maruti Suzuki, Infosys, L&T and SBI are among the gainers, whereas Bharti Airtel, Coal India, Jubilant FoodWorks, MindTree and Idea Cellular are losing sheen on BSE.
Some buying activity is seen in auto, industrial, finance, banking, capital goods, realty and FMCG sectors, while telecom sector is showing weakness on BSE.
The INDIA VIX is up 0.90% at 13.0575. Out of 1,858 stocks traded on the NSE, 425 declined, 1,115advanced and 318 remained unchanged today.
A total of 93 stocks registered a fresh 52-week high in trades today, while 22 stocks touched a new 52-week low on the NSE.
Tata Motors Ltd is currently trading at Rs. 566.55, up by Rs. 16.75 or 3.05% from its previous closing of Rs. 549.8 on the BSE. Jaguar Land Rover, the British luxury vehicle unit of Tata Motors, is planning to make Land Rover SUVs in India for the local market and exports, as per media reports.
Jubilant Foodworks Ltd is currently trading at Rs. 1081, down by Rs. 99.15 or 8.4% from its previous closing of Rs. 1180.15 on the BSE. The company has posted a net profit of Rs.19 crore for the quarter ended June 30, 2016 as compared to Rs.27.6 crore for the quarter ended June 30, 2015.
Mindtree Ltd is currently trading at Rs. 513, down by Rs. 36.9 or 6.71% from its previous closing of Rs. 549.9 on the BSE. The IT Company has issued a profit and revenue warning, impacted primarily due to cross-currency movement and Brexit.
Ahluwalia Contracts (India) Ltd is currently trading at Rs. 328.3, up by Rs. 31.1 or 10.46% from its previous closing of Rs. 297.2 on the BSE. The company has secured new order aggregating to Rs.244.13 crore in Kolkata. The total order inflow during the FY16-17 stands at Rs.1209.59 crores.
Pennar Engineered Building Systems Limited, one of India’s largest provider or custom designed building solutions is glad to announce order booking of Rs.203 Crores.
Welspun India Ltd is currently trading at Rs. 56.45, up by Rs. 2.65 or 4.93% from its previous closing of Rs. 53.8 on the BSE.
Scooters India Ltd is currently trading at Rs. 33.45, up by Rs. 1.55 or 4.86% from its previous closing of Rs. 31.9 on the BSE. Heavy Industries Ministry will soon seek an in-principle approval for disinvesting government’s stake in loss making automaker followed by preparing a detailed Cabinet proposal for implementing the government’s decision.
SPML Infra Ltd is currently trading at Rs. 85.45, up by Rs. 7.55 or 9.69% from its previous closing of Rs. 77.9 on the BSE.The Union Cabinet decision that requires Government agencies to pay 75% of arbitral awards will result in SPML’s debt being reduced significantly.
The rupee opened higher by 29 paise at 66.53/$ against US Dollar Tuesday as against the previous close of 66.82/$. The rupee opened at highest level since May 9 against US Dollar.
Asian shares opened mixed on Tuesday as investors look ahead to the Reserve Bank of Australia’s rate-setting meeting. Nikkei 225 and Hang Seng are trading in green, while Shanghai Composite is in red. Wall Street closed higher on Monday.
At G20, Prime Minister Modi has sought the removal of obstacles to effective financial governance which include elimination of safe havens for economic offenders and ending excessive banking secrecy.
Crude prices surged after Russia and Saudi Arabia are said to have agreed to take measures to stabilise the oil market.
Mutual funds have pumped in over Rs.2,700 crore in equity market in Aug. FPIs put in over Rs.9700 crore and expectations are that September, which has historically seen inflows, will be continue the trend of money moving into Indian equities.
US markets were shut on Monday for the labor day public holiday. U.S. nonfarm payrolls rose by 151,000 jobs in August after an upwardly revised 275,000 increase in July, with job cuts in manufacturing and construction, the Labor Department said.
Urjit Patel has assumed charge as the 24th governor of Reserve Bank of India (RBI), succeeding Raghuram Rajan whose three-year controversy-ridden tenure ended on Sunday. Patel has assumed charge effective from Sunday after serving as deputy governor since January 2013, RBI said.
The Nikkei India Services Purchasing Managers’ Index (PMI), which tracks changes in activity at services sector companies on a monthly basis, stood at 54.7 in August, up from 51.9 in July, registering an expansion in each of the past 14 months.
The combined market valuation of seven of the top-10 firms surged by Rs.41,687 crore last week, with HDFC andITC emerging as the biggest gainers. The market valuation of HDFC advanced by Rs.11,309.5 crore to Rs.2,27,624.66 crore.
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