Nifty Bank snaps two-day losing streak

The Nifty Bank index was gaining during Monday’s trade after witnessing a downward rally in the previous two trading sessions. Axis Bank was the top gainer on the index. The Nifty Bank index was trading at 24,142.85 level, up by 68.40 points or 0.28%.

The stock of Axis Bank was trading at Rs 495.55 per share, up by Rs 5.15 or 1.05% as at 1105 hours. The stock attracted a traded volume of 10,87,863 shares and traded value of Rs 5,382.09 lakh.

Among other banking majors, ICICI Bank was up 1.02% at Rs 296.15, Yes Bank was up 0.71% at Rs 1,732.90, Bank of Baroda was up 0.51% at Rs 147.95, Induslnd Bank was up 0.29% at Rs 1,625.70, Kotak Mahindra Bank was up 0.21% at Rs 985.60.

Meanwhile, State Bank of India, HDFC Bank, Punjab National Bank, IDFC Bank, Canara Bank and Federal Bank were trading in the red zone.

CDSL surges over 6%

Central Depository Services (India) (CDSL) is catching the attention of market participants as the stock was trading at Rs 340.65 per share, with the gains of Rs 19.3 per share or 6.01% as of 1017 hours on Monday.
 
The total traded volume attracted by the stock stands at 22,84,746 shares and traded value of Rs 76.77 crore. The stock touched its intraday high of Rs 343.45 per share, up by Rs 22.1 per share or 6.87%.
 
The only listed company in depositories services, CDSL had listed at Rs 250 per share on June 30, 2017, at a premium of 67.7% as against its issue price of Rs 149 per share. Its IPO issue was oversubscribed by 170 times, which makes it the most subscribed IPO issue of 2017.
 
Meanwhile, Nifty was trading at 9,868 level, up by 31 points while Sensex was trading at 31,581 level, up by 56 points on Monday. There were 1,005 advances, 542 declines and 418 unchanged stocks on NSE reflecting positive undertone in the market.

Live Stock Market Updates: Infy restricts Nifty's upmove; Metal stocks shine

Nifty finds strong support around 9,750 while 9,870 will act as resistance. 
There are 38 advances and 13 declines in Nifty50 index. Infosys downfall has been restricting the upside movement of the benchmark indices
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Nifty Metal index is top gainer among the sectoral indices on NSE in morning hour. The index is trading at 3,437 level, up by 52 points or 1.55%. NMDC is top gainer in the index trading at Rs 123.85 per share, up by Rs 3.1 per share or 2.57%. SAIL was up by 2% at Rs 60.9 per share.
 
Other metal stocks like Vedanta, Tata Steel, Hindalco, National Aluminium Company, Jindal Steel and Welspun Corporation are also trading in positive territory by more than 1%.
 
At 10 AM, the S&P BSE Sensex is trading at 31,629 up 104 points, while Nifty is trading at 9,878 up 40 points. A total of 25 stocks registered a fresh 52-week high in trade today, while 19 stocks touched a new 52-week low on the NSE.
 
The BSE Mid-cap Index is trading up 0.34% at 15,259, while BSE Small-cap Index is trading up 0.48% at 15,692.
 
Some buying activity is seen in Capital Goods, Metal, Pharma, Auto, while Healthcare and IT are showing weakness on BSE.
 
ONGC, Vedanta, BPCL, Tata Steel, Hindalco are among the gainers, whereas Infosys, Cipla, Asian Paints, Sun Pharma and Zee Entertainment are losing sheen on NSE.
 
The INDIA VIX is down 1.73% at 14.31.

Infy to buy back shares worth Rs 13K crore

Infosys has approved a buyback proposal at Rs 1,150 per share. The stock has a face value of Rs 5  per share.
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The record date for the buyback will be announced later. The board of the company approved buyback for an amount not exceeding Rs 13,000 crore.
 
The buyback offer size is 20.51% of the total paid-up equity capital and free reserves of the company as per the latest audited balance sheet as on June 30, 2017. The buyback offer will comprise a purchase of up to 113,043,478 equity shares aggregating up to 4.92% of the paid-up equity share capital of the company.
 
Buyback price of Rs 1,150 per share represents a premium of 19.08% and 18.7% over the volume weighted average market price of the equity shares on BSE and NSE respectively, during the three months preceding the date of intimation to the stock exchanges of the board meeting to consider the proposal of the buyback. The buyback price also represents a premium of 24.58% and 24.55% as per the closing price of the stock on BSE and NSE respectively in Friday’s trading session.
 
Infosys ADR had closed at USD 14.79 down by 7.16% in Friday’s trading session. The stock also witnessed selling pressure on the Indian bourses. It closed lower by 9.56% at Rs 923.25 per share on NSE in Friday’s trading session.

Markets likely to open flat amid mixed Asian cues

Indian equity markets are poised to open flat with marginal gains on Monday, tracking mixed cues prevailing in the Asian markets. 
The SGX Nifty, which was trading at 9,858 with minor gain of 10 points, is indicating flat start for the day.

Nifty50 has immediate support placed around the 9,770 level and the next support is placed around the level of 9,700. On the upside, the level of 9,860 will act as an immediate resistance, while the next resistance is seen around the level of 9,900.

Back home, profit-booking was seen in Indian markets on Friday after three days of continuous rally amid weak global cues. Strong sell-off was seen in Infosys after the announcement that the board of directors has accepted the resignation of Vishal Sikka as the Managing Director and CEO with immediate effect. Sensex slipped 271 points to end at 31,525 and the Nifty dropped 67 points to finish at 9,837.

The US stocks ended the last trading session of the week with marginal losses as stocks showed lack of direction. The Dow Jones Industrial Average finished down 76 points at 21,675. The S&P 500 shed 4 points to close at 2,426. The tech-laden Nasdaq Composite Index edged down 5 points to 6,217.

Asian markets were mixed in early trade on Monday. Japan’s Nikkei 225 has shed 87 points, while Hong Kong's Hang Seng has surged 144 points and China’s Shanghai Composite has gained 10 points.

Live Stock Market Updates – Infosys continues to drag Nifty and Sensex

Benchmark indices continue to trade in negative territory. Broader market indices are also showcasing bearish undertone extending losses.
 
Meanwhile, Nifty FMCG index is the only gainer among sectoral indexes on NSE, The index is up 0.83% at 25,723 level
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ITC is the top index gainer and contributing majorly to index gains. The stock is soaring higher by 1.30% at Rs 283.65 per share on NSE.
 
Other stocks in the index viz. Colgate Palmolive is up 1.18% at Rs 1072.20 per share, GlaxoSmithKline Consumer Healthcare is up 1.02% at Rs 5350 per share.
 
On the contrary, United Spirits is down 1.01% at Rs 2575 per share, United Breweries is down 0.73% at Rs 800 per share.
 
At 12 PM, the S&P BSE Sensex is trading at 31,536 down 258 points, while Nifty is trading at 9838 down 65 points. A total of 16 stocks registered a fresh 52-week high in trade today, while 26 stocks touched a new 52-week low on the NSE.
 
The BSE Mid-cap Index is trading down 0.17% at 15,202, while BSE Small-cap Index is trading down 0.66% at 15,590.
 
Some buying activity is seen in Telecom, Consumer Durables and Energy indices, while Finance, Healthcare and IT indices are showing weakness on BSE.
 
BPCL, Bharti Infratel and Gail are among the gainers, whereas Infosys, Sun Pharma and Zee Entertainment Enterprises are losing on the NSE.
 
The INDIA VIX is up 0.88% at Rs 14.4.

Opening Bell – Markets open lower, Infosys slips over 5%

At 9:15 AM, Nifty opened at 9,865 level, down by 63 points while Sensex opened at 31,729 level, down by 226 points.
 
Bharti Infratel was top Nifty gainer trading at Rs 386.30 per share, up by 1.83% whereas Infosys was top Nifty loser trading at Rs 968.95 per share, down by 5%. India VIX was trading at 14.31 level, down by 0.20%. Bank Nifty index was trading down by 174 points at 24,057 level.
 
On the broader markets, BSE Mid-cap index was trading at 15,158 level, down by 73 points while BSE Small-cap index was trading at 15,602 level, down 92 points.
 
Rupee opened at 64.17 per USD.
 
Infosys was the top nifty loser on the back of the resignation of Vishal Sikka as MD and CEO of Infosys.

US stocks fall sharply on Thursday as heightened concerns about President Donald Trump’s legislative agenda. The Dow Jones Industrial Average tumbled 274 points to close at 21,751, postinf 1-day biggest fall. The Nasdaq Composite Index plummeted 123 points to 6,212. The S&P 500 shed 38 points to 2,430.
 
Asian markets slipped lower in early trade on Friday on back of sell-off in the U.S market. Japan’s Nikkei 225 has decline 216 points.  Hong Kong Hang Seng has tumble 308 points. China’s Shanghai Composite has lost 10 points.

Live Stock Market Updates: Market extends morning gain; Nifty chases 10100

Nifty Realty index is the top gainer among sectoral indices in the morning hour. Indiabulls Real Estate is the top gainer in realty segment trading at around Rs 239.05 per share, up by Rs 14.75 per share or 6.58%.
 
Prestige Developers and HDIL are also trading in positive territory, up by over 1%. Other realty stocks like Phoenix, DLF, Oberoi Realty and Sobha Developers are also trading in the green zone.
 
There were 1125 advances, 739 declines and 94 unchanged stocks on BSE reflecting strong positive sentiments floating in the market.
 
At 10 AM, the S&P BSE Sensex is trading at 32597 up 214 points, while NSE Nifty is trading at 10091 up 70 points. A total of 53 stocks registered a fresh 52-week high in trade today, while 12 stocks touched a new 52-week low on the NSE.
 
The BSE Mid-cap Index is trading up 0.46% at 15409, while BSE Small-cap Index is trading up 0.33% at 16151.
 
Some buying activity is seen in Capital Goods, Metal, Auto, while Healthcare, Telecom and Consumer Durables are showing weakness on BSE.
 
Yes Bank, HCL Technologies, HDFC, Eicher Motors and IndusInd Bank are among the gainers, whereas Bharti Airtel, Sun Pharma, Cipla, Hindalco and Tata Steel are losing sheen on NSE in the first trading hour.
 

Live Stock Market Updates: Nifty trades almost flat

Nifty is trading almost flat after touching record high level at the opening bell. Immediate support level for the index may be placed at 9900 level. Nifty FMCG index is one of the losers among sectoral indices on NSE. FMCG heavyweight, ITC Limited was trading at Rs 292.1 per share, down by 0.39%.
 
Other FMCG stocks viz. United Spirits, United Breweries, Marico, GSK, Jubilant Foods and Hindustan Unilever were also trading in negative territory down by over 0.4%.
 
There were 712 advances, 848 declines and 396 unchanged stocks on NSE reflecting mixed sentiments floating in the market.
 
At 11 AM, the S&P BSE Sensex is trading at 32289 up 43 points, while Nifty is trading at 9973 up 6 points. A total of 47 stocks registered a fresh 52-week high in trade today, while 15 stocks touched a new 52-week low on the NSE.
 
The BSE Mid-cap Index is trading up 0.36% at 15280, while BSE Small-cap Index is trading up 0.1% at 16052.
 
Some buying activity is seen in Banks, Telecom and Metal while Oil & Gas, Energy and Healthcare are showing weakness on BSE.
 
Bharti Infratel, Indiabulls Housing Finance, Vedanta, Hero MotoCorp, NTPC are among the gainers, whereas Zee Entertainment, HCL Technologies, Tech Mahindra, Eicher Motors and Tata Motors are losing sheen on NSE.
 

Upward rally to start if Nifty 9,650 breaches

As per the market observers, Nifty has formed an ‘inside bar’ on the daily technical charts. It can continue to trade in the narrow range unless any decisive move takes index outside the range of 9,590-9,650 range.

Nifty closed at 9,637 level up by 24 points and Sensex closed at 31,245 level up by 35 points on Wednesday. The Nifty50 index traded in a narrow range with an intraday low of 9,607 level and intraday high of 9,643 level. However, it ended at a 2-week closing high.

 
Nifty could not cross the immediate resistance level of 9650. As per the market observers, Nifty has formed an ‘inside bar’ on the daily technical charts. It can continue to trade in the narrow range unless any decisive move takes index outside the range of 9,590-9,650 range.
 
Nifty’s 5-day exponential moving average (EMA) and 13-day EMA stood at 9,596 and 9,586 level, respectively. The Nifty50 index now, going forward, may find resistance near levels of 9,650-9,660, and if it sustains above this resistance zone, it may scale up to levels of 9,700-9,710. On the lower end, the level of 9,580 may act as an immediate support level for Nifty50, but if the index fails to hold this support level, it may witness further correction up to levels of 9,550 and 9,530.