Indices snap 2-day losing streak...Nifty back above 8600

The key benchmark indices snapped a two-day losing streak on Monday. After opening on a flat note indices remained under pressure and slipped lower in the first half. However, as the day progressed, late bout of buying in the auto, capital goods, energy, metal, oil& gas, banking and finance stocks lifted the benchmarks. On the other hand, IT, realty, FMCG, teck and pharma stocks were under pressure.

Among the 50-stocks of Nifty, Zee, Tata Motors, Hero MotoCorp, RIL, Hindalco, Tata MotorsDVR, L&T, ICICI Bank and Adani Ports were among the gainers on NSE, whereas HCL Tech, Wipro, Bharti Infratel, Tech Mahindra, Lupin, HDFC Bank and Asian Paints were among the losers today.

Finally, the BSE Sensex ended with a gain of 120 points at 27,902. The BSE Sensex opened at 27,827 touched an intra-day high of 27,953 and low of 27,699.

The NSE Nifty closed with a gain of 35 points at 8,607. The NSE Nifty opened at 8,584 hitting a high of 8,622 and low of 8,544.

The India VIX (Volatility) index was down 2.98% at 13.1650. Out of 1,420 stocks traded on the NSE, 840 declined and 618 advanced today. The BSE Midcap and Smallcap indices ended up 0.2%-0.3%.

The rupee was trading down 11 paise at 67.16 per US dollar.

On the global front, Asian stocks closed on mixed note. The Shanghai Composite index and Hong Kong’s Hang Seng index closed marginally lower. Nikkei 225 gained 2.3%.

In Europe, the FTSE 100 was trading up 0.31%. DAX and the CAC 40 were trading lower by 1% each.

Tata Motors soared 4.2% to Rs.525 on BSE. The company posted a net profit after tax, minority interest and share of profit of associates of Rs.2260.4 crore for the quarter ended June 30, 2016 as compared to Rs.5254.2 crore for the quarter ended June 30, 2015. Higher volumes in both standalone as well as Jaguar Land Rover (JLR) business was more than offset by the adverse foreign currency impact of Rs 2296 crore and adverse commodity derivatives impact of Rs 167 crore in the operating profit mainly in the Jaguar Land Rover business.

Indian Oil Corporation ended marginally down at Rs.572. The company posted a net profit of Rs.8269 crore for the quarter ended June 30, 2016 as compared to Rs.6590.8 crore for the quarter ended June 30, 2015.

Procter & Gamble Hygiene and Health Care slipped 1%. The company reported an increase of 2.2% in its net profit at Rs 109.40 crore for the quarter ended June 30, 2016.

Adani Enterprises closed higher by 1% at Rs.72.85 on the BSE after a federal court in Australia rejected challenge to its Carmichael mine.

Shree Renuka Sugars rallied 5.6% after creditors approved the reorganisation proposal put forward by its bankrupt Brazilian subsidiary, Renuka do Brasil S/A (RdB).

Pratibha Industries tumbled 4.8% to Rs.21.45 on the BSE. The company reported a consolidated net loss of Rs.30.15 crore for the quarter ended June 30 as compared to net profit of Rs.16.45 crore in the similar quarter of 2015-16.

Claris Lifesciences dropped 6.2%. The company received approval from the U.S. health regulator for generic Flumazenil injection used for reversal of the sedative effects of benzodiazepines in the America market.

GMR Infrastructure inched up 1.6% to Rs.13.30. GMR Airports Limited, a subsidiary of GMR Infrastructure Limited has won the competitive bid for development and operation of the Rs.3,000 crore Mopa Greenfield Airport in North Goa.

Alankit gained 2.6% to Rs.143.50 on BSE. Alankit Ltd has informed BSE that the Board of Directors of the Company approved the increase in Authorised Share Capital of the Company from Rs. 10 crores to Rs. 20 crore and issue of Bonus Shares in the proportion of 1:1.1, said a media report.

A total of 55 stocks registered a fresh 52-week high in trades today, whereas 17 stocks touched a new 52-week low on the NSE.

Live Stock Market Updates - Nifty reclaims 8,600 mark

The Indian stock market opened flat to positive but slipped into the negative zone in early trade on weak Asian cues.

At 2:35 PM, the S&P BSE Sensex is trading at 27,904 up 122 points, while NSE Nifty is trading at 8,601 up 28 points.

The BSE Mid-cap Index is trading up 0.14% at 13,018 whereas BSE Small-cap Index is trading up 0.10% at 12,499.

Tata Motors, Hero MotoCorp, RIL, L&T, Bharti Airtel and HDFC are among the gainers, whereas Wipro, TCS, Lupin, HDFC Bank and Asian Paints are losing sheen on BSE.

Some buying activity is seen in capital goods, industrial, auto, energy,metal,  oil and gas and consumer durables sectors, while telecom, IT, pharma, power, realty, banking, metal and teck sectors are showing weakness on BSE.

The INDIA VIX is down 1.71% at 13.3375. Out of 1,855 stocks traded on the NSE, 914 declined, 655 advanced and 286 remained unchanged today.

A total of 55 stocks registered a fresh 52-week high in trades today, while 26 stocks touched a new 52-week low on the NSE.

The rupee opened lower by 12 paise at 67.14/$ against US Dollar Monday as against the previous close of 67.05/$.

DLF is trading marginally down ahead of Q1 numbers today.

Tata Motors soared 4.4% to Rs.525.75 on BSE. The company has posted a net profit after tax, minority interest and share of profit of associates of Rs.2260.4 crore for the quarter ended June 30, 2016 as compared to Rs.5254.2 crore for the quarter ended June 30, 2015.

Aurobindo Pharma is trading down 0.35%. The pharma company and Intas are among the contenders for the UK and Irish portfolio of Teva, as per media reports.

Procter & Gamble Hygiene and Health Care slipped 2.4%. The company reported an increase of 2.2% in its net profit at Rs 109.40 crore for the quarter ended June 30, 2016.

Coal India is trading down 0.93%. The company will invest around Rs.7,765 crore towards capital expenditure in the ongoing fiscal and Rs.5,069 crore in various projects, including railway infrastructure, super critical thermal power plant and solar power.

Shree Renuka Sugars Ltd is currently trading at Rs. 16.95, up by Rs. 0.95 or 5.94% from its previous closing of Rs. 16 on the BSE. The company has informed BSE that under the Judicial Protection Law (11.101/2005 Recuperacao Judicial), the Assembly of Creditors of Renuka do Brasil S/A (RdB) has approved the Reorganization Plan presented by Renuka do Brasil S/A on August 26, 2016.

ACC Ltd is currently trading at Rs. 1628.4, down by Rs. 10.05 or 0.61% from its previous closing of Rs. 1638.45 on the BSE. The cement major will is poised to increase its manufacturing capacity in India to 35 million tonnes per annum from 30 mtpa (beginning of the year) with the addition of a couple of more plants, as per media reports.

JSW Steel Ltd is currently trading at Rs. 1759.55, up by Rs. 5.95 or 0.34% from its previous closing of Rs. 1753.6 on the BSE.The company has committed an investment of Rs.50,000 crore in Odisha for a 10-million-tonne steel project. 

Pratibha Industries Ltd is currently trading at Rs. 21.45, down by Rs. 1.1 or 4.88% from its previous closing of Rs. 22.55 on the BSE. The company has reported a consolidated net loss of Rs.30.15 crore for the quarter ended June 30 as compared to net profit of Rs.16.45 crore in the similar quarter of 2015-16.

Abbott India Ltd is currently trading at Rs. 4767.5, up by Rs. 36.05 or 0.76% from its previous closing of Rs. 4731.45 on the BSE. The pharma company will be in focus as it posted a 10% rise in standalone net profit to Rs.74.01 crore for quarter ended June 30 as compared to net profit of Rs.67.31 crore for the similar quarter last year.

Vakrangee gained 1.4%. The company PAT stood at Rs.120.5 crore in Q1FY2016-17 as against Rs.86.1 crore for the corresponding quarter last year, registering a growth of 40%.

Claris Lifesciences dropped 4%. The company has received approval from the U.S. health regulator for generic Flumazenil injection used for reversal of the sedative effects of benzodiazepines in the America market.

Reliance Communications inched up 0.37%. Reliance Communications and Aircel Ltd are expected to sign an agreement for merger of their businesses by the first week of September, as per media reports.

GMR Infrastructure climbed 3% to Rs.13.49. GMR Airports Limited, a subsidiary of GMR Infrastructure Limited has won the competitive bid for development and operation of the Rs.3,000 crore Mopa Greenfield Airport in North Goa.

Bharat Forge slipped 1% to Rs.853. The company has acquired 64,000 shares of its wholly owned step down UK subsidiary - Bharat Forge International (BFIL), from Bharat Forge Global Holding GMBH, for USD 4,544,000 (around Rs 30 crore).

Alankit jumped 4% to Rs.145.35 on BSE. Alankit Ltd has informed BSE that the Board of Directors of the Company approved the increase in Authorised Share Capital of the Company from Rs. 10 crores to Rs. 20 crore and issue of Bonus Shares in the proportion of 1:1.1, said a media report.

The rupee opened lower by 12 paise at 67.14/$ against US Dollar Monday as against the previous close of 67.05/$.

Asian markets are trading mixed. Nikkei 225 is trading in green, while Shanghai Composite and Hong Kong's Hang Seng are trading lower.

Investors are still trying to make sense and understand the implications of US Federal Reserve Chair Janet Yellen's speech on Friday. At Jackson Hole, she said the case for a rate hike was strengthening thereby re-echoing the views of other Fed officials.

Meanwhile, Bank of Japan’s Haruhiko Kuroda reiterated that the Japanese central bank was ready to do all that is needed to prevent the Japanese economy from sliding further into deflation.

The Narendra-Modi government hopes to advance the Winter Session of Parliament to ensure that the GST is rolled out by April 1, 2017. Infosys will remain in focus after the management decided to split its business into smaller units.

Wall Street ended mostly lower on Friday after Federal Reserve Chairwoman Janet Yellen said the case for an increase in U.S. short-term interest rates has strengthened in recent months. The Dow Jones Industrial Average fell 53.01 points, or 0.3%, to 18,395.40. The S&P 500 lost 3.43 points, or 0.16%, to 2,169.04. The Nasdaq Composite rose 6.71 points, or 0.13%, to 5,218.92.

The dollar is near a two-week high against the yen post fed commentary and crude prices declined.

India's foreign exchange reserves went up to $367.16 billion as on August 19. The foreign current assets stood at $341.67 billion, gold $21.58 billion, special drawing rights $1.49 billion and the reserve position with the International Monetary Fund (IMF) stood at $2.41 billion.

On the economy front, Nirmala Sitharaman defended her demand for 2 per cent cut in interest rates by RBI, saying it is essential to boost SMEs and create jobs, amid criticism that such a move would drastically affect fixed deposits.

Top 17 stocks in focus today: Tata Motors, DLF, IOC

DLF: The company will announce its Q1 numbers today.

Tata Motors: The company has posted a net profit after tax, minority interest and share of profit of associates of Rs.2260.4 crore for the quarter ended June 30, 2016 as compared to Rs.5254.2 crore for the quarter ended June 30, 2015.

Aurobindo Pharma Ltd: The pharma company and Intas are among the contenders for the UK and Irish portfolio of Teva, as per media reports.

Procter & Gamble Hygiene and Health Care: The company reported an increase of 2.2% in its net profit at Rs 109.40 crore for the quarter ended June 30, 2016.

IOC: IOC will announce Q1 numbers today.

Coal India: The company will invest around Rs.7,765 crore towards capital expenditure in the ongoing fiscal and Rs.5,069 crore in various projects, including railway infrastructure, super critical thermal power plant and solar power.

Abbott India: Drug firm Abbott India reported a 9.95% rise in standalone net profit to Rs.74.01 crore for quarter ended June 30.

Vakrangee: The company PAT stood at Rs.120.5 crore in Q1FY2016-17 as against Rs.86.1 crore for the corresponding quarter last year, registering a growth of 40%.

Claris Lifesciences: The company has received approval from the U.S. health regulator for generic Flumazenil injection used for reversal of the sedative effects of benzodiazepines in the America market.

Reliance Communications: Reliance Communications and Aircel Ltd are expected to sign an agreement for merger of their businesses by the first week of September, as per media reports.

L&T: The company has sharpened its focus on Southeast Asia and Africa to make up for the slowdown in West Asia, changing its overseas strategy amid likelihood of low crude oil prices continuing to weigh on investment plans of oil-rich nations.

Infosys: Infosys has borrowed a leaf from rival Tata Consultancy Services playbook by deciding to split its business into smaller units, which will be managed by the company's next rung of management, as per media reports.

GMR Infrastructure : GMR Airports Limited, a subsidiary of GMR Infrastructure Limited has won the competitive bid for development and operation of the Rs.3,000 crore Mopa Greenfield Airport in North Goa. 

Bharat Forge: The company has acquired 64,000 shares of its wholly owned step down UK subsidiary - Bharat Forge International (BFIL), from Bharat Forge Global Holding GMBH, for USD 4,544,000 (around Rs 30 crore).

Alankit Ltd: Alankit Ltd has informed BSE that the Board of Directors of the Company approved the increase in Authorised Share Capital of the Company from Rs. 10 crores to Rs. 20 crore and issue of Bonus Shares in the proportion of 1:1.1, said a media report.

Pratibha Industries: Pratibha Industries reported loss of Rs.30.1 crore for the quarter ended June 30 compared with Rs.16.4 crore loss reported in the year-ago period.

Carborundum Universal: CUMI, one of the leading players in the world in the area of Material Sciences and a part of the Murugappa Group, inaugurated its state-of-the-art Research and Development centre in its Industrial Ceramics Division facility in Hosur.

Live Stock Market Updates - Sensex, Nifty languish in red

The Indian stock market opened flat to positive but slipped into the negative zone in early trade on weak Asian cues.  At 9:33 AM, the S&P BSE Sensex is trading at 27,827 down 18 points, while NSE Nifty is trading at 8,569 down mere three points.

The BSE Mid-cap Index is trading up 0.04% at 13,005 whereas BSE Small-cap Index is trading up 0.11% at 12,501.

Tata Motors, Axis Bank, Tata Steel, GAIL, RIL and ICICI Bank are among the gainers, whereas Adani Ports, Lupin, Wipro, TCS and Bajaj Auto are losing sheen on BSE.

Some buying activity is seen in oil and gas, auto, industrial and energy sectors, while IT, pharma, capital goods, banking, metal and teck sectors are showing weakness on BSE.

The INDIA VIX is up 2.65% at 13.9300. Out of 1,831 stocks traded on the NSE, 731 declined, 658 advanced and 442 remained unchanged today.

A total of 24 stocks registered a fresh 52-week high in trades today, while 16 stocks touched a new 52-week low on the NSE.

The rupee opened lower by 12 paise at 67.14/$ against US Dollar Monday as against the previous close of 67.05/$.

Asian markets are trading mixed. Nikkei 225 is trading in green, while Shanghai Composite and Hong Kong's Hang Seng are trading lower.

Investors are still trying to make sense and understand the implications of US Federal Reserve Chair Janet Yellen's speech on Friday. At Jackson Hole, she said the case for a rate hike was strengthening thereby re-echoing the views of other Fed officials.

Meanwhile, Bank of Japan’s Haruhiko Kuroda reiterated that the Japanese central bank was ready to do all that is needed to prevent the Japanese economy from sliding further into deflation.

The Narendra-Modi government hopes to advance the Winter Session of Parliament to ensure that the GST is rolled out by April 1, 2017. Infosys will remain in focus after the management decided to split its business into smaller units.

Wall Street ended mostly lower on Friday after Federal Reserve Chairwoman Janet Yellen said the case for an increase in U.S. short-term interest rates has strengthened in recent months. The Dow Jones Industrial Average fell 53.01 points, or 0.3%, to 18,395.40. The S&P 500 lost 3.43 points, or 0.16%, to 2,169.04. The Nasdaq Composite rose 6.71 points, or 0.13%, to 5,218.92.

The dollar is near a two-week high against the yen post fed commentary and crude prices declined.

India's foreign exchange reserves went up to $367.16 billion as on August 19. The foreign current assets stood at $341.67 billion, gold $21.58 billion, special drawing rights $1.49 billion and the reserve position with the International Monetary Fund (IMF) stood at $2.41 billion.

On the economy front, Nirmala Sitharaman defended her demand for 2 per cent cut in interest rates by RBI, saying it is essential to boost SMEs and create jobs, amid criticism that such a move would drastically affect fixed deposits.