Opening Bell – Markets open higher, Nifty below 9600

At 9:15 AM, the BSE Sensex opened higher by 56 points at 31194, while the Nifty50 opened higher by 20 points at 9594 mark.

Aurobindo Pharma is the top Nifty gainer and Indiabulls Housing Finance is the top Nifty loser in the morning hours. 
 
There are 927 advances, 513 declines and 460 unchanged stocks on NSE reflecting a positive bias floating in the market.
 
Nifty50 index has immediate support placed in the range of 9,550-9,540, and if it slips below this support zone, the next support is likely to come around the level of 9,510, while on the upside, resistances are seen in the zone of 9,600-9,650.
 
The rupee opened at 64.48 per US dollar appreciated by 3 paise. On Friday, The Indian rupee closed stronger against the US dollar tracking gains in the Asian currencies markets. The rupee closed at 64.52 a dollar, up 0.14% from its Thursday’s close of 64.60.
 
The US stocks closed mixed on Monday. The Dow Jones Industrial Average rose 15 points to end at 21,410. The S&P 500 finished with marginal gain of 0.1% at 2,439. Bucking the negative trend, the Nasdaq Composite Index shed 18 points to close at 6,247.
 
Most of the Asian stocks are trading in the positive territory in early trade on Tuesday. Japan’s Nikkei 225 has gained 78 points as the yen weakened against the US dollar for the first time in seven days; Hong Kong’s Hang Seng is up 30 points, while China’s Shanghai Composite has slipped 5 points.

HDFC to seek shareholders’ nod to raise Rs 85,000 crore

HDFC, a major provider of finance for housing in India, will seek shareholder’s approval to raise RS 85,000 crore through various debt instruments.
 
The mortgage lender will seek its shareholder’s nod at the Annual General Meeting which is scheduled on July 26, 2017.
 
The fund is to be raised by issuing redeemable non-convertible debentures or other hybrid instruments on a private placement basis for cash either at par or premium or at a discount to face value depending upon the prevailing market conditions.
 
The stock of the company on the NSE is trading Rs 1,664 per share at Rs 12.65 per share or 0.7% at 1025 hours. The stock has delivered 36% returns in a period of one year and has outperformed the BSE Sensex and Nifty Financial Services over the same time span.

Stock view:
 
Housing Development Finance Corporation Ltd is currently trading at Rs 1657.75, up by Rs 6.9 or 0.42% from its previous closing of Rs 1650.85 on the BSE.
 
The scrip opened at Rs 1651 and has touched a high and low of Rs 1666.65 and Rs 1651 respectively. So far 1276439(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 262530.96 crore.
 
The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 1680.5 on 13-Jun-2017 and a 52 week low of Rs 1185 on 05-Dec-2016. Last one week high and low of the scrip stood at Rs 1660 and Rs 1616 respectively.
 
The promoters holding in the company stood at 0 % while Institutions and Non-Institutions held 87.77 % and 12.23 % respectively.
 
The stock is currently trading above its 50 DMA.

Live Stock Market Updates: Markets extend losses; Nifty FMCG index gains

Nifty FMCG index is the only gaining index among the sectoral indices on NSE. FMCG heavyweight, ITC Limited was trading higher by 1.24% at Rs 314.85 per share. Godrej Consumer Products Limited, Jubilant Foods and United Spirits Limited were also trading in positive territory on Tuesday.
 
The advance declines ratio stood at 419:1093 at NSE with bears dominating the market.
 
At 11 AM, the S&P BSE Sensex is trading at 31045 down 92 points, while NSE Nifty is trading at 9525 down 49 points. A total of 13 stocks registered a fresh 52-week high in trade today, while 47 stocks touched a new 52-week low on the NSE.
 
The BSE Mid-cap Index is trading down 1.04% at 14431, while BSE Small-cap Index is trading down 1.16% at 15203.
 
Some buying activity is seen in FMCG, Healthcare and Telecom while Oil & Gas, Energy, Finance, are showing weakness on BSE.
 
ITC Limited, Aurobindo Pharma, Adani Ports, Hindustan Unilever and HDFC Bank are among the gainers, whereas Bank of Baroda, Indiabulls Housing Finance, BPCL, State Bank of India and ICICI Bank are losing sheen on NSE.
 
The INDIA VIX is up 9.14% at 12.61.