Live Stock Market Updates – Lacklustre trade on D-Street, Pharma stock gain

Pfizer stock on the NSE witnessed 5% jump after the company on Wednesday announced that it has entered into an acquisition agreement with AstraZeneca for its Neksium brand.
 
The BSE Pharma index is up by over 2.5% during Thursday’s trading session. Pfizer is up by 6%, Aurobindo  Pharma is up by 5%, Divis Lab is up by 4.5% and Sun Pharma is up by 4%.
 
At 11 AM, the S&P BSE Sensex is trading at 31171 up 25 points, while NSE Nifty is trading at 9618 down 2 points. A total of 48 stocks registered a fresh 52-week high in trade today, while 38 stocks touched a new 52-week low on the NSE.
 
There are 1005 advances, 568 declines and 375 unchanged stocks on NSE reflecting a positive bias floating in the market.
 
The BSE Mid cap Index is trading down 0.3% at 14678, while BSE Small cap Index is trading down 0.8% at 15204.
 
Some buying activity is seen in Healthcare, Industrials, Auto while Realty, Power and Utilities showing weakness on BSE.
 
Aurobindo Pharma, Sun Pharma, Bharti Infratel and HUL are among the gainers, whereas Hindalco, Indiabulls Housing Finance, ICICI Bank and ONGC are losing on the NSE.
 

Opening Bell - Nifty and Sensex opened in red; Bank stocks trade weak

At 9:15 AM, the BSE Sensex opened lower by 28 points at 31117, while the Nifty50 opened lower by 18 points at the 9603 mark.
 
Bharti Infratel is the top Nifty gainer trading higher by 1.55% at Rs 372.3 per share and Indiabulls Housing Finance is the top Nifty loser trading lower by 1.06% at Rs 1148 per share in the morning hours on Thursday.
 
The private bank stocks like HDFC Bank, ICICI bank and Kotak Bank are trading weak on the opening bell on Thursday. These stocks are dragging down the Bank Nifty index and BSE Bankex. Bank Nifty is trading lower by 0.28% at 23359 levels.
 
There are 843 advances, 596 declines and 462 unchanged stocks on NSE reflecting strong positive bias floating in the market.
 
As per the market observers, the level of 9631.8 is the important pivot level to watch out for Nifty on Thursday. The resistance levels for Nifty on Thursday are kept at 9654 and 9672 while the support levels are kept at 9614 and 9591.
 
Rupee opened at 64.48 per USD appreciated by 3 paise on Thursday.
 
The US stocks closed slightly lower on Wednesday as weakness lingered in the energy and banking stocks. The S&P 500 index registered a drop of single point to close at 2,412. The Dow Jones Industrial Average slipped 21 points to end at 21,009, its third straight modest decline. The Nasdaq Composite Index shed 5 points to finish at 6,199.
 
Asian markets were trading mixed on Thursday. Japan’s Nikkei 225 has surged 161 points, whereas Hong Kong’s Hang Seng has slipped 33 points and China’s Shanghai Composite has shed 13 points.

Nifty trades flat; Realty stocks outperform

Nifty Realty index is the top gainer among the sectoral indices on NSE. The index is tradin higher by around 1% at 250 level. HDIL is the top gainer in the index. The stock is trading at Rs 89.85 per share higher by close to 5%. The other realty stocks like Delta Corp, Prestige, Oberoi Realty and Sobha Limited are also trading in positive territory.
 
There were 986 advances, 599 declines and 365 unchanged stocks on NSE reflecting strong positive undertone in the market.
 
At 12 PM, the S&P BSE Sensex is trading at 31185 up 25 points, while NSE Nifty is trading flat at 9625. A total of 35 stocks registered a fresh 52-week high in trade today, while 44 stocks touched a new 52-week low on the NSE.
 
The BSE Mid-cap Index is trading up 0.7% at 14591, whereas BSE Small-cap Index is trading up 0.88% at 15054.
 
Some buying activity is seen in Capital Goods, Pharma, Auto, while Energy, Telecom, IT and Metal are showing weakness on BSE.
 
M&M, Lupin, Ultratech Cement, Dr Reddy’s, Power Grid are among the gainers, whereas ONGC, Vedanta Limited, ITC, Bharti Infratel, Aurobindo Pharma are losing sheen on NSE.

Board of MOIL recommends a dividend of Rs 6 per share

 MOIL on Tuesday informed that the board of directors at its meeting held on May 30, 2017, has recommended a final dividend of Rs 6 per equity share of face value of Rs 10 each, for the financial year ended March 31, 2017.
 
The company’s standalone net profit increased by a staggering 441% to Rs 115.80 crore for the quarter ended March 31, 2017. It had posted a standalone net profit of Rs 21.38 crore in the same quarter of the previous year.
 
Meanwhile, MOIL is up by 3.5% at Rs 332.10 per share at 11:38 hours IST on BSE. It touched a high of Rs 340 and a low of Rs 330.95 so far during the day.
 
MOIL Limited is engaged in the exploration, exploitation and marketing of manganese ore and products such as electrolytic manganese dioxide and high carbon ferromanganese alloy. The company operates through three segments: mining, manufacturing and power generation.
 
Stock View:
 
MOIL Ltd is currently trading at Rs 332.25, up by Rs 11.4 or 3.55% from its previous closing of Rs 320.85 on the BSE.
 
The scrip opened at Rs 330.95 and has touched a high and low of Rs 340 and Rs 330.95 respectively. So far 756822(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 4273.33 crore.
 
The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 429 on 12-Jan-2017 and a 52 week low of Rs 218.8 on 30-May-2016. Last one week high and low of the scrip stood at Rs 323.55 and Rs 295 respectively.
 
The promoters holding in the company stood at 65.58 % while Institutions and Non-Institutions held 19.09 % and 15.34 % respectively.
 
The stock is currently trading above its 200 DMA.

Live Stock Market Updates: Nifty trades flat; Broader market indices outperform

BSE Mid-cap index has been outperforming the major indices in the market in the morning hours on Wednesday. NLC India Limited is the top gainer in the index trading higher by around 8% at Rs 106.85 per share. It is ‘Navratna’ Public Sector Enterprise, under the administrative control of Ministry of Coal.
 
The company is looking for increasing the borrowing powers of board of directors upto Rs 35,000 Cr and for creation of security on the assets of the Company up to that value
 
There were 986 advances, 536 declines and 425 unchanged stocks on NSE reflecting strong positive undertone in the market.
 
At 10 AM, the S&P BSE Sensex is trading at 31171 up 12 points, while NSE Nifty is trading at 9626 up 1 point. A total of 22 stocks registered a fresh 52-week high in trade today, while 37 stocks touched a new 52-week low on the NSE.
 
The BSE Mid-cap Index is trading up 0.95% at 14628, whereas BSE Small-cap Index is trading up 0.87% at 15053.
 
Some buying activity is seen in Capital Goods, Pharma, Auto, while FMCG, IT and Metal are showing weakness on BSE.
 
M&M, Ultratech Cement, Power Grid, IOC, Lupin are among the gainers, whereas ONGC, Vedanta Limited, ITC, Bharti Infratel, Aurobindo Pharma are losing sheen on NSE in the first trading hour.
 
The INDIA VIX is up 3.7% at 12.2.

Live Stock Market Updates – Nifty settles above 9600, Sensex over 31100, Pharma stocks gain

The BSE Healthcare is the top gaining index in the morning session on Tuesday. It is up by 1.1% at 13369. Aurobindo Pharma and Sun Pharmaceutical are contributing majorly to the index gains and lifting it to higher levels.
 
Aurobindo Pharma is up 7.5% at Rs 552 per share and Sun Pharmaceutical is up 1% at Rs 508 per share.
 
Other stocks in the index such as Sun Pharma Advanced Research Company is up 3.1% at Rs 283 per share, IPCA Laboratories is up 2% at Rs 500 per share, Lyka Labs is up by 1.9% at Rs 51.50 per share, Caplin Point Laboratories is up 1.3% at Rs 540 per share and Lupin is also up by 1.4% at Rs 1125 per share.
 
IOL Chemicals, Shilpa Medicare and Marksans Pharma are some stocks that are trading in the red territory.
 
Meanwhile, Bata India & ICICI Bank are buzzing on the bourses. Bata India is up by 6.1% at Rs 561 per share and ICICI Bank is up by 2% at Rs 321 per share.
 
At 10 AM, the S&P BSE Sensex is trading at 31164 up 55 points, while NSE Nifty is trading at 9613 up 8 points. A total of 17 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 up 0.20% at 14397, while BSE Small-cap Index is trading down 0.10% at 14839.
 
Some buying activity is seen in Healthcare, Auto and Bankex indices, while Telecom, Energy and Consumer Durables indices are showing weakness on BSE.
 
Aurobindo Pharma, IOC, ICICI Bank and Lupin are among the gainers, BPCL, Power Grid, TCS and ACC are losing on the NSE.
 
The INDIA VIX is up 0.4% at 11.8.

Opening Bell – Markets open flat, L&T top Nifty gainer

At 9:15 AM, the BSE Sensex opened lower by 2 points at 31111, while the Nifty50 opened lower by 18 points at 9590 mark.

 
L&T Limited is the top Nifty gainer and Power Grid is the top Nifty loser in the morning hours. 
 
There are 600 advances, 755 declines and 448 unchanged stocks on NSE reflecting some positive bias floating in the market.
 
The rupee opened at 64.64 per US dollar appreciated by 6 paise. The rupee on Monday weakened by 6 paise against the dollar to close at 64.50 on month-end demand for the US currency from importers, ending its three-day spectacular run.
 
Now, going forward. Nifty50 needs to sustain above the level of 9,650 to witness an upmove towards the levels of 9,680-9,700. On the downside, the support for Nifty50 index is pegged at the levels of 9,545 and 9,505.
 
Financial markets in the US remained closed on Monday, May 29, 2017, in observance of Memorial Day.
 
Most of the Asian markets are trading in the negative terrain on Tuesday. Japan’s Nikkei 225 has slipped 85 points. The equity markets in Hong Kong and China remained shut for the day on account of a public holiday.

Metal stocks under pressure after Moody’s downgraded China’s debt rating

The Nifty Metal Index is trading down at 2905 level down by 0.28% on Wednesday as of 1041 hours for a fifth straight trading session.
 
Moody's investor's service downgraded debt rating of China saying the outlook for its financial strength will worsen. The credit rating agency believes that the financial strength of China will erode in coming years as the debt of the country is on the rising trend.
 
The China’s debt has been growing at around 15% of the country’s output each year just to keep the economy growing between 6.5% to 7%.
 
China is the world's biggest consumer of metals. The downgrading of the China’s credit rating has worried the metal investors globally and domestically.
 
In the Indian equities market on Wednesday, the major metal stocks like Vedanta, Welcorp, Hindalco, MOIL are losing their sheen. Vedanta and Hindalco are the top contributors to the losses of BSE Metal index

Live Stock Market Updates – Nifty surges past 9400, Tata Motors climbs 4%

NSE Metal Index is down for the consecutive fifth straight session and is down by 0.5%. Moody's downgraded debt rating of China on Tuesday, the world's biggest consumer of metals, saying the outlook for its financial strength will worsen.
 
Stocks such as Vedanta is down by 1.5%, Welspun Corp is down by 0.9%, Hindalco is down by 0.7% and MOIL is down by 1%.
 
Tata Motors on Wednesday surged the most since Nov 8,2016 on above estimates Q4 FY17 earnings. The stock climbed nearly 4% on the NSE.
 
At 11 AM, the S&P BSE Sensex is trading at 30525 up 160 points, while NSE Nifty is trading at 9429 up 43 points. A total of 6 stocks registered a fresh 52-week high in trade today, while 51 stocks touched a new 52-week low on the NSE.
 
There are 884 advances, 658 declines and 408 unchanged stocks on NSE reflecting a negative bias floating in the market.
 
The BSE Mid cap Index is trading up 0.1% at 14261, while BSE Small cap Index is trading up 0.4% at 14841.
 
Some buying activity is seen in Realty, Metal, Auto and Bankex while Consumer Durables, Metal and Oil & Gas is showing weakness on BSE.
 
Tata Motors DVR, Tata Motors, Yes Bank, Adani Ports and TCS are among the gainers, whereas Bank of Baroda, Asian Paints, HCL Tech, Indiabulls Housing Finance and Dr Reddy’s on the NSE.
 

Videocon Industries tumbles 20% and hits fresh multi-year low

Videocon Industries, the diversified Indian company during Tuesday’s trading session has breached its lower circuit of Rs 64.80 per share, extending its losses for the second consecutive trading session. The stock is down by 20% or Rs 16 .20 per share on the BSE at 1035 hours.
 
The stocks on Monday also breached its lower circuit of Rs 80.40 per share on the BSE. The stock is trading at near its March 2009 lows of 65.60.
 
Recently, with the default on payments, Dena Bank had declared Videocon Industries account as non-performing asset (NPA) in the fourth quarter ended March 2017.Dena Bank had become the first lender to classify Videocon Industries as a bad loan.
 
The company which was once a dominant player in television market, also ventured into oil and gas, special economic zones and telecom. 

Stock view:
 
Videocon Industries Ltd is currently trading at Rs 64.8, down by Rs 16.2 or 20% from its previous closing of Rs 81 on the BSE.
 
The scrip opened at Rs 64.8 and has touched a high and low of Rs 64.8 and Rs 64.8 respectively. So far 247793(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 2709.12 crore.
 
The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 114.9 on 06-Oct-2016 and a 52 week low of Rs 80.4 on 22-May-2017. Last one week high and low of the scrip stood at Rs 100.8 and Rs 80.4 respectively.
 
The promoters holding in the company stood at 66.04 % while Institutions and Non-Institutions held 11.54 % and 22.42 % respectively.
 
The stock is currently trading below its 200 DMA