Opening Bell – Nifty oscillates around 9500, Sensex opens higher by 30 points

At 9:15 am the BSE Sensex opened at 30,988 up by 30 points, while the Nifty50 opened up by 9 points at 9,520 mark.
 
Kotak Mahindra Bank is the top Nifty gainer and Asian Paints is the top Nifty loser in the morning hours. Kotak Mahindra Bank is trading at Rs 981.85 per share up by 0.73% whereas Asian Paints is trading at Rs 1,115.05 per share, down by 1.68%.
 
There are 508 advances, 885 declines and 495 unchanged stocks on NSE reflecting some negative bias floating in the market.
 
The rupee opened at 64.55 per US dollar lower by 2 paise on Wednesday. The Indian rupee closed at 64.53 a dollar, down 0.03% from its Friday’s close of 64.52, on Tuesday, erasing all the morning gains and closed little changed against the US dollar after local equity markets fell nearly 180 points.
  
Nifty50 index has immediate support placed in the range of 9,450, and if it slips below this support zone, the next support is likely to come around the level of 9,400, while on the upside, resistances are seen in the zone of 9,550.
 
The US stocks closed lower on Tuesday. The tech-heavy Nasdaq Composite witnessed a steep drop, tumbling 101 points to finish at 6,147. The Dow Jones Industrial Average fell 99 points to 21,311 and the S&P 500 slid 20 points to 2,419. The weakness on Wall Street came following the International Monetary Fund cutting its outlook for the world’s largest economy.
 
Asian stocks are trading in the negative territory in early trade on Wednesday. Japan’s Nikkei 225 has lost 43 points; Hong Kong’s Hang Seng has slipped 194 points, while China’s Shanghai Composite has shed 10 points.

Live Stock Market Updates – Nifty tests 9500, Oil stocks rise

The BSE Oil & Gas is the top gaining index in the morning session on Wednesday. It is up by 0.42% at 13,358. Indian Oil Corporation is contributing majorly to the index gains and pulling it to higher levels.
 
IOC is trading higher by 1.4% at Rs 395.60 per share.
 
Other stocks in the index viz. Hindustan Petroleum Corporation is up by 1.57% at Rs 510.50 per share, BPCL is up by 1.46% at Rs 620.95 per share, GAIL is up by 1.08% at Rs 363.80, OIL is up by 0.95% at Rs 271.70 per share & ONGC is also trading higher by 0.25% at Rs 160.35 per share.
 
National Pharmaceutical Pricing Authority (NPPA) on Tuesday announced provisional ceiling prices of 761 medicines, including HIV, diabetes, anti-cancer and antibiotic. Majority of drug prices are being reduced as the GST regime is couple of days away.
 
At 10 AM, the S&P BSE Sensex is trading at 30,902 down 55 points, while NSE Nifty is trading at 9497 down 13 points. A total of 10 stocks registered a fresh 52-week high in trade today, while 46 stocks touched a new 52-week low on the NSE.
 
The BSE mid-cap Index is trading up 0.02% at 14,466, while BSE small-cap Index is trading down 0.06% at 15,132.
 
Some buying activity is seen in Auto, Utilities & Realty, while Consumer Durables and Capital Goods indices are showing weakness on BSE.
 
IOC, BPCL, GAIL are among the gainers, Asian Paints, ACC & Zee Entertainment Enterprise are losing on the NSE.
 
The INDIA VIX is up 0.8% at 12.6. 

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.

Housing finance companies slip in trade

Housing finance companies took a beating during the Friday morning trading session. Almost all companies were trading in red territory, except HUDCO and SRG Housing Finance which were trading flat.
 
Sahara Housingfina Corporation was trading lower by 7.8% at Rs 51.15 per share at 1032 hours on BSE. It was the top losing stock amongst other housing finance companies.
 
India Home Loan was down 4.5% at Rs 110.25 per share, Indiabulls Housing Finance was down 4.2% at Rs 1066.95 per share, Dewan Housing Finance Corporation was down 3.4% at Rs 440.50 per share and PNB Housing Finance was also down 2.9% at Rs 1,532.40 per share.
 
Other stocks viz. Can Fin Homes was down 2.8% at Rs 3,156.90 per share, Repco Home Finance was down 2.3% at Rs 847 per share, LIC Housing Finance was down 1.7% at Rs 756.15 per share and GIC Housing Finance was also trading lower by 1.3% at Rs 581.35 per share.

Live Stock Market Updates – Nifty slips below 9600, Oil & Gas companies lose steam

The BSE Oil & Gas is one of the top losing indices in Friday’s morning session. It is down 1.1% at 13,310.
 
Indian Oil Corporation is contributing majorly to the index losses and dragging it to lower levels. IOC is down 2.9% at Rs 382.10 per share.
 
Other stocks in the index viz. ONGC is down 1.2% at Rs 158.50 per share, BPCL is down 1.7% at Rs 631.20 per share, GAIL is down 1.6% at Rs 353.95 per share, HPCL is down by 0.9% at Rs 507 per share, Indraprastha Gas is down 1.8% at Rs 1056.90 per share, Oil India is down 1.6% at Rs 278 per share and Castrol India is also trading lower by 0.9% at Rs 408.15 per share.
 
Meanwhile, Fortis Healthcare tanked following the statement by IHH Healthcare Berhad that it is not close to concluding any negotiations to buy controlling stake in the pharmaceutical company, according to a leading business daily. It was down 9.7% at Rs 178.65 per share.
 
At 11 AM, the S&P BSE Sensex is trading at 31,222 down 68 points, while NSE Nifty is trading at 9,594 down 35 points. A total of 16 stocks registered a fresh 52-week high in trade today, while 35 stocks touched a new 52-week low on the NSE.
 
The BSE mid-cap Index is trading down 1.18% at 14,588, while BSE small-cap Index is trading down 1.45% at 15,383.
 
Some buying activity is seen Information Technology index, while Metal, Oil & Gas and Realty indices are showing weakness on BSE.
 
Wipro, Power Grid, Sun Pharma and NTPC are among the gainers, Indiabulls Housing Finance, Bosch, IOC and GAIL are losing on the NSE.
 
The INDIA VIX is up 3.5% at 11.6.

Live Stock Market Updates: Nifty near day’s low; FMCG stocks gain

Nifty FMCG index is trading marginally higher by 27 points at 26082 level. Major FMCG stocks have been restricting the losses of major indices in the market.
 
Godrej Industries is the top gainer in the Nifty FMCG index trading higher by 0.76% at Rs 650.65 per share. FMCG heavyweights, Hindustan Unilever and ITC are also trading in positive territory higher by 0.62% and 0.21% respectively.
 
There are 780 advances, 763 declines and 401 unchanged stocks on NSE reflecting mixed sentiments floating in the market.
 
At 11 AM, the S&P BSE Sensex is trading at 31217 down 79 points, while NSE Nifty is trading at 9616 down 36 points. A total of 38 stocks registered a fresh 52-week high in trade today, while 36 stocks touched a new 52-week low on the NSE.
 
The BSE Mid-cap Index is trading up 0.01% at 14846, while BSE Small-cap Index is trading up 0.32% at 15729.
 
Some buying activity is seen in Capital Goods, Telecom, and Consumer Durables while Oil & Gas, Energy, Finance are showing weakness on BSE.
 
Bank of Baroda, LT, Hindustan Unilever, Reliance, Asian Paints are among the gainers, whereas Lupin, ONGC, Eicher Motors, BPCL and Power Grid are losing sheen on NSE.
 
The INDIA VIX is up 1.29% at 10.79.

IPO Alert: CDSL oversubscribed 9.48 times

CDSL IPO continued to get a huge response from the investors. The IPO issue had got oversubscribed on its first day of subscription. On its last day of subscription on Wednesday, the issue has got oversubscribed by 9.48x.
 
The total issue size of the IPO stands at 2,48,27,046 shares. As per the data available with the National Stock Exchange as of 1100 hours on Wednesday, the total bids received stood at 23,53,95,600 shares and the total bids received at cut-off price stood 12,70,84,000 shares. The issue got oversubscribed by Institutional investors by 7.29 times, HNIs by 6.04 times and Retail investors by 13.39 times.
 
After the blockbuster entry of BSE in the capital markets, investors have braced themselves for the BSE promoted CDSL IPO.  The IPO closes on June 21, 2017.
 
The IPO is going to follow book building issue, wherein price band is fixed at Rs 145 per share to Rs 149 per share. The minimum order quantity is one market lot which consists of 100 shares. The issue size stands at 35,167,208 equity shares with face value of Rs 10 per share aggregating up to Rs 523.99 crore and offer for sale of 35,167,208 equity shares with face value of Rs 10 per share.
 
The important objectives of the offer include to achieve the benefits of listing the equity share on the NSE and to enhance its visibility and brand image and provide liquidity to its existing shareholders.

Markets likely to open lower post Fed rate hike

Indian equity markets are likely to open lower on Thursday, tracking negative cues across Asian markets. The SGX Nifty, which was trading with losses of 41 points at 9,601, indicated that domestic bourses may open lower at the opening bell.
 
Nifty50 index has immediate support placed around the level of 9,580, and if it holds below this level, further corrections up to the level of 9,550 is likely. On the upside, Nifty50 needs to sustain above the level to witness up-move towards the levels of 9,700-9,740. 
 
Back home, Indian markets ended with modest gains after a volatile session on Wednesday, led by gains in banking and realty stocks. Index heavyweight Reliance Industries gained about 3% after the data released by TRAI showed strong April subscriber addition, although broader market sentiment was muted ahead of the U.S Federal Reserve meeting.
 
The US stocks closed mixed on Wednesday after Fed hiked rates. The Dow Jones Industrial Average closed up 46 points at a record 21,375. The S&P 500 declined 2 points to finish at 2,438. The Nasdaq Composite Index slipped 25 points to close at 6,195. The US Federal Reserve hiked the Fed rate by 25 basis points along expected lines. The enhanced rate now stands in the range of 1-1.25%. Fed has also guided on one more rate hike this year.
 
Most Asian stocks have declined in early trade on Thursday. Japan’s Nikkei 225 has been trading with loss of 105 points; Hong Kong’s Hang Seng has lost 239 points, while China’s Shanghai Composite has shed 8 points