With the finance minister waxing eloquently about rising tax mop-ups of any anecdotal evidence of slow growth should be laid to rest for now. Direct tax collections rose 12% while indirect tax revenue grew was up 25%. Tax buoyancy, which slumped to 0.71 under the earlier government, has improved to 1.23 in FY15 and 1.35 in FY16, a report stated. Prime Minister Narendra Modi will inaugurate the biennial Vibrant Gujarat Global Summit 2017 today. The earnings season kicks off with IndusInd Bank announcing its numbers.
Asian indices opened flat with further consolidation as US stocks lost ground on fresh brexit worries over UK's trading role with Europe. This saw safe haven buying in US$, gold and bonds while oil prices dropped sharply. With 20000 being the near term target on the Dow Jones profit booking around these pivot levels could see some more consolidation before the Trump swearing in later this month.
At 9:45 AM, the S&P BSE Sensex is trading at 26841 up 115 points, while NSE Nifty is trading at 8268 up 33 points. A total of 21 stocks registered a fresh 52-week high in trade today, while 3 stocks touched a new 52-week low on the NSE.
Out of 1896 stocks traded on the NSE, 426 declined, 1033 advanced and 437 remained unchanged today.
The BSE Mid-cap Index is trading up 0.47% at 12408, whereas BSE Small-cap Index is trading up 0.46% at 12553.
Some buying activity is observed in Oil & Gas, Metal, Auto, while Telecom, Realty, Telecommunications are showing weakness on BSE.
BPCL, ONGC, Hindalco, Tata Steel, Tata Motors, Tata Motors DVR, GAIL, Reliance, M&M, Adain Ports are among the gainers, whereas Axis Bank, Tech Mahindra, Sun Pharma, IndusInd bank, Bank of Baroda, TCS, Asian Paints, Ambuja Cement, ACC, Yes Bank are losing sheen on NSE.
The INDIA VIX is down 1.43% at 15.25.
Buzzing Stocks:
Asian indices opened flat with further consolidation as US stocks lost ground on fresh brexit worries over UK's trading role with Europe. This saw safe haven buying in US$, gold and bonds while oil prices dropped sharply. With 20000 being the near term target on the Dow Jones profit booking around these pivot levels could see some more consolidation before the Trump swearing in later this month.
At 9:45 AM, the S&P BSE Sensex is trading at 26841 up 115 points, while NSE Nifty is trading at 8268 up 33 points. A total of 21 stocks registered a fresh 52-week high in trade today, while 3 stocks touched a new 52-week low on the NSE.
Out of 1896 stocks traded on the NSE, 426 declined, 1033 advanced and 437 remained unchanged today.
The BSE Mid-cap Index is trading up 0.47% at 12408, whereas BSE Small-cap Index is trading up 0.46% at 12553.
Some buying activity is observed in Oil & Gas, Metal, Auto, while Telecom, Realty, Telecommunications are showing weakness on BSE.
BPCL, ONGC, Hindalco, Tata Steel, Tata Motors, Tata Motors DVR, GAIL, Reliance, M&M, Adain Ports are among the gainers, whereas Axis Bank, Tech Mahindra, Sun Pharma, IndusInd bank, Bank of Baroda, TCS, Asian Paints, Ambuja Cement, ACC, Yes Bank are losing sheen on NSE.
The INDIA VIX is down 1.43% at 15.25.
Buzzing Stocks:
Tata Elxsi shares up 1.7% on order win from China.
Madras Fertilisers shares up 2.5% as the company resumed operations of its manufacturing plant.
Ajanta Pharma shares up 2% on USFDA approves Cymbalta generic.
Engineers India shares up 4% on Rs 2500 crore order from HPCL.
Jaiprakash Power Ventures has sought its shareholders' nod, through postal and electronic ballot, to convert part of its outstanding debt of Rs 30.58 bn into 3.06bn equity shares.
Divis Laboratories has filed a detailed response within the permitted time to the observations made by the US health regulator after inspection of the drug firm’s manufacturing plant at Visakhapatnam in Andhra Pradesh.
Oil and Natural Gas Corporation (ONGC) is close to finalising ways to complete its USD800mn projects stuck midway after the contractor, Singapore’s Swiber Holdings Ltd, collapsed last year following an oil slump.
A set of critical observations issued by Portuguese drug regulator on Granules India's Gagillapur unit near Hyderabad that manufactures pharmaceutical formulation intermediates (PFIs) and finished dosages (FDs).
The Centre is seeking a higher dividend on the back of IOC, HPCL and BPCL reporting much higher profits in the first half of this fiscal, as well as improved earnings per share.
No comments:
Post a Comment