Wednesday, 30 November 2016

Sensex, Nifty Hold Early Gains; Broader Markets Outperform


The Sensex was up 60.25 points at 26454.26 and the Nifty gained 24.30 points at 8166.45 amid consolidation. About 1562 shares advanced against 780 declining shares on the BSE. Idea Cellular shares fell more than 2 percent after a media report indicated that Axiata, the major public shareholder other than promoter and promoter group, is likely to sell its entire stake.

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Sensex And Nifty Market Updates By Dollar Advisory

Equity benchmarks continued to hold morning gains while the broader markets outperformed for the third consecutive session. The rupee appreciated by 15 paise to trade at 68.50 against the US dollar from last close. The 30-share BSE Sensex was up 99.91 points at 26493.92 and the 50-share NSE Nifty rose 36.35 points to 8178.50 while the BSE Midcap and Smallcap indices gained 0.6-1 percent on positive breadth. More than two shares advanced for every share falling on the exchange.

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Nifty Nears 8200, Sensex Gains; L&T, ICICI, SBI Lead

Nifty nears 8200, Sensex gains; L&T, ICICI, SBI leadThe market is picking up quality lead by banks, capital products and pharma stocks. The Sensex is up 106.95 points or 0.4 percent at 26500.96 and the Nifty is up 40.70 points or 0.5 percent at 8182.85. Around 1523 shares have progressed, 628 shares declined, and 140 shares are unaltered. L&T, ICICI Bank, Adani Ports, Maruti and SBI are best gainers while GAIL, Relaince, Tata Steel, Coal India and NTPC are failures in the Sensex.

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Sensex Rises 100 Pts, Nifty Holds 8150; Cement Stocks Rally

The 30-share BSE Sensex was up 113.81 points at 26507.82 and the 50-share NSE Nifty increased 40.70 points at 8182.85. Around 1496 shares progressed against 582 declining offers on the BSE. Oil markets edged up in apprehensive exchanging in front of an OPEC meeting later in the day, with individuals from the maker cartel attempting to explode a yield slice to check oversupply that has seen costs more than split since 2014.

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Sensex, Nifty Open Flat; Bajaj Auto, Adani Ports, Sun Pharma up

Tata Power reported frail Q2FY17 profit with income falling 6 percent to Rs 7,208.9 crore against Rs 7,666.3 crore in the year-prior period. EBITDA fell 27.2 percent to Rs 1,461.6 crore against Rs 2,008 crore reported amid Q2FY16. Then, EBITDA edge for the quarter remained at 20.3 percent. Then, net benefit surged to Rs 336.2 crore amid the quarter finished September 2016. In the light of meeting room fight, financial specialists dislike profit Tata Power reported. Despite the fact that there is no quick shade from Tata Sons EGM, showcase master Prakash Diwan said he expects dim days for Tata Power proceeding.

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Tuesday, 29 November 2016

F&O Cues: Nifty 8000 Put Adds 4 Lakh Shares In Open Interest

Nifty 8300 Call added 5.7 lakh shares in Open Interest on November 28

Nifty 8000 Call shed 3.4 lakh shares in Open Interest

Nifty 8100 Put added 4.6 lakh shares in Open Interest

Nifty 8000 Put added 4 lakh shares in Open Interest

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Sensex, Nifty Strong; Maruti Top Gainer


The 30-share BSE Sensex was up 185.42 focuses at 26535.59 and the 50-share NSE Nifty increased 59.40 focuses at 8186.30 while the BSE Midcap record climbed 0.9 percent and Smallcap hopped 1.2 percent. Around three shares progressed for each share declining on the trade. Oil costs fell on questions that maker cartel OPEC will have the capacity to pound out a significant yield cut amid a meeting on Wednesday to get control over a worldwide supply shade and prop up costs. Universal Brent unrefined petroleum prospects were exchanging at USD 47.80 for each barrel, down 0.91 percent, from their last close. US West Texas Intermediate unrefined prospects were down 0.79 percent at USD 46.71 a barrel.

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Sensex, Nifty Continue to Climb On 29 Nov 2016

India's economy most likely grabbed steam in the July-September quarter on solid request, however Prime Minister Narendra Modi's shock cash crackdown this month will probably mark development in coming months, a Reuters survey found. While created economies have floundered in dull movement, Asia's third-biggest economy has kept up a flexible pace of extension as of late, obscuring China. That pattern likely proceeded in the last quarter, as per the middle agreement of 35 financial specialists surveyed over the previous week. They conjecture India's about USD 2 trillion economy extended 7.5 percent in July-September from a similar period a year prior, quickening from a 15-month low of 7.1 percent in the past quarter.

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Nifty Above 8150, Sensex Up Over 100 pts

The market has opened level as the Sensex is up 36.78 focuses or 0.1 percent at 26386.95. The Nifty is up 4.65 focuses or at 8131.55. Around 418 shares have progressed, 101 shares declined, and 27 shares are unaltered. Goodbye Steel, Adani Ports, Coal India, Sun Pharma and BHEL are best gainers while Hero MotoCorp, Infosys, Lupin, NTPC and Asian Paints are washouts in the Sensex. The Indian rupee opened higher by 3 paise at 68.73 for every dollar versus past close 68.76. The dollar edged down against a wicker container of real monetary standards on Monday, surrendering a few increases after a sharp rally that took after Donald Trump's astound triumph in the US Presidential decision. You can also join Dollar Advisory for best share market updates.

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Monday, 28 November 2016

BSE Sensex And Nifty Update Of 28 Nov 2016

Equity benchmarks gained strength in noon trade with the Nifty inching towards 8150 level, supported by auto, FMCG, oil and telecom stocks. HDFC Bank and Axis Bank turned positive while SBI and ICICI Bank remained under pressure after RBI move. The 30-share BSE Sensex was up 65.54 points at 26381.88 and the 50-share NSE Nifty rose 20.20 points to 8134.50 while the broader markets extended rally. The BSE Midcap and Smallcap indices gained 1 percent each as about 1610 shares advanced against 664 declining shares on the exchange. Bharti Airtel was the biggest gainer among Sensex 30 stocks, followed by ITC, Tata Motors, Hero Motocorp, Axis Bank, Bajaj Auto, NTPC and Cipla with 1-2.5 percent. State Bank of India and ICICI Bank fell more than 1.5 percent.

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Dollar Advisory Update Of 28 Nov 2016 : SBI Tanks 5%, Auto & Oil Stocks Lead

The market has recovered from early weakness but the Nifty is almost nearing 8150. The 50-share index is up 6.80 points at 8121.10 and the Sensex is up 21.34 points at 26337.68. About 1457 shares have advanced, 652 shares declined, and 112 shares are unchanged. Bharti Airtel, Cipla, Hero MotoCorp, BHEL and Bajaj Auto are top gainers while ICICI Bank, Wipro, TCS and Axis Bank are losers in the Sensex. SBI is down 5 percent intraday on Monday after RBI increased cash reserve ratio. India is proving to be immune from the heavy selling in global emerging market debt, as Prime Minister Narendra Modi's clampdown on undeclared cash has sparked expectations of a rate cut and pushed issuers to take advantage of low yields. Indian Railways Finance Corporation, NTPC, Vedanta Resources, Exim India and Axis Bank all rushed to print rupee notes last week to access cheaper funding.

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Dollar Advisory Update Of 28 Nov 2016 : Nifty Rangebound, Midcap Outperforms

The Sensex was up 21.34 points at 26337.68 and the Nifty gained 6.80 points at 8121.10. About 1457 shares advanced against 652 declining shares on the BSE. 10:50 am CRR hiked: RBI has raised CRR to 100 percent on incremental deposits, post a deluge of liquidity to the banking system due to demonitisation. The additional CRR is applicable on incremental deposit growth from September 26 to be reviewed periodically (every fortnight), but with a likely influx of liquidity continuing, it seems that it would continue beyond the near term and possibly over next 3-4 months. The CRR hike for now would reduce the market liquidity by Rs 3-3.5 trillion and will suck out more as deposit influx increases, says Deutsche Bank.

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Nifty Hovers Around 8100, Sensex Unsteady

The Sensex is down 45.46 points or 0.2 percent at 26270.88 and the Nifty is down 13.70 points or 0.2 percent at 8100.60. About 1110 shares have advanced, 627 shares declined, and 89 shares are unchanged. Hero MotoCorp, Cipla, Bharti Airtel, Asian Paints and Bajaj Auto are top gainers while SBI, ICICI Bank, Wipro, Axis Bank and TCS are losers in the Sensex. Ridham Desai of Morgan Stanley says the low return environment that India seems to be trapped but may get a breather in 2017 due to better equity valuations, bottoming of growth cycle and higher correlations with world equities on which the brokerage house is more constructive. If history is a guide, the trailing EPS growth sets up Indian stocks for strong medium term performance. Proprietary sentiment indicator has still not hit the buy zone so there may be some downside in the near term and thus, the recovery from the recent damage to share prices may not be V-shaped, he feels.

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Friday, 25 November 2016

Nifty Eyes 8100, Sensex Soars Over 300 pts; SBI, Bajaj Auto Drag

The market continues to rally with the Nifty eyeing 8100. The 50-share index is up 109.45 points or 1.4 percent at 8074.95 and the Sensex is up 309.05 points or 1.2 percent at 26169.22. About 1866 shares have advanced, 554 shares declined, and 163 shares are unchanged. Infosys, TCS, Lupin, GAIL and Wipro are top gainers while SBI, Bajaj Auto, ICICI Bank, L&T and Bharti are losers in the Sensex. Leading bourse National Stock Exchange will auction investment limits for overseas investors for purchase of government debt securities worth Rs 22,171 crore on November 28. The auction will be conducted on NSE's 'e-bid' platform from 1530 hours to 1730 hours, after the close of market hours.

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Sensex Above 26000, Up Over 250pts; ICICI, L&T, SBI Underperform

Equity benchmarks extended rally with the Sensex rising 287.04 points or 1.11 percent to 26147.21 and the Nifty climbing 102.45 points or 1.29 percent to 8067.95. About 1845 shares advanced against 528 declining shares on the BSE. Suven Life reported a flat set of numbers for the second quarter ended September 30. Profits were up 5.3 percent to Rs 26.5 crore versus Rs 25.2 crore reported same quarter last fiscal but revenues were down 1.2 percent at Rs 11.5 crore versus Rs 117 crore year on year. Defending the revenue numbers, Venkat Jasti, Chairman and CEO, Suven Life Sciences told CNBC-TV18 that their numbers should not be compared quarter on quarter because the CRAMS is a lumpy business. Actually, the revenues were up, he said.

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Nifty Reclaims 8050, Sensex Rises Over 200 pts

Sources at the Finance Ministry tell CNBC-TV18 that the banking regulator The Reserve Bank of India is proposing to hike the limit of market stabilisation scheme with the objective of sucking out excess liquidity in the system. Banks flush with incremental deposits owing to demonetisation drive has parked a substantial sum of money in the reverse repo window with the RBI. MSS securities are an extra tool with which the RBI can intervene in the market for managing liquidity. These securities are given by the banking regulator like bonds to clean up additional liquidity.

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Sensex, Nifty, Midcap Gain Strength; TCS, Tata Steel, GAIL Rally

The Sensex was up 231.36 points at 26091.53 and the Nifty gained 86.85 points or 1.09 percent at 8052.35. About four shares advanced for every share falling on the BSE. Indian rupee has seen sharp recovery in morning from its opening level of 68.74 against the US dollar. It has appreciated 35 paise to trade at 68.39 a dollar. In previous session, it hit a record low of 68.86 a dollar. FIIs buying or RBI intervention could be the reason for recovery.

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Sensex Up Over 150pts, Nifty Above 8000

The Sensex is up 179.27 points or 0.7 percent at 26039.44 and the Nifty is up 67.10 points or 0.8 percent at 8032.60. About 1396 shares have advanced, 348 shares declined, and 83 shares are unchanged. Tata Steel and Infosys are up 3 percent while GAIL, TCS and Asian Paints are gainers while Tata Motors, NTPC, Cipla, Reliance and L&T are losers in the Sensex. Jagran Prakashan, the publisher of leading Hindi daily Dainik Jagran, today said its subsidiary Music Broadcast Ltd will raise up to Rs 400 crore through initial public offer.

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Thursday, 24 November 2016

RBI intervenes to support rupee, may have sold around $500

RBI intervenes to support rupee, may have sold around $500 mnThe Reserve Bank of India sold around USD 500 million to support the rupee currency when it fell to around 68.80 per dollar on Thursday morning, traders said. Two interventions by the central bank in the morning sparked a sharp rebound in the currency from near record lows hit earlier in the day. The rupee was trading at 68.74/75 per dollar by mid-morning, up from a session low of 68.8375, its weakest since a record low of 68.85 hit in August 2013.

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Sensex slumps over 200 pts, Bank Nifty falls; rupee at new low

The market has fallen further after the rupee hit record low of 68.86 per dollar. The Sensex is down 201.38 points or 0.8 percent at 25850.43 and the Nifty is down 61.90 points or 0.8 percent at 7971.40. About 1166 shares have advanced, 1136 shares declined, and 167 shares are unchanged. Infosys, TCS, Bajaj Auto, Wipro and Asian Paints are top gainers while Tata Motors, NTPC, ICICI Bank, Sun Pharma and Reliance are losers in the Sensex.

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Nifty volatile, uproar in Parliament on cash crunch; IT up

Decoding the demonetisation impact on non-banking financial companies (NBFCs), Krishnan Sitaraman, Senior Director, Crisil Ratings said in the short-term the impact will be felt by those companies that are cash intensive – the likes business catering to used commercial vehicle financing, gold financing entities and micro financing companies. However, he said Crisil rated NBFCs will be able to manage the impact because of liquid assets on their balance sheet as long as this disruption gets over in a month or two, but if it is prolonged over three months then asset quality challenges could arise for them too.

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Selling pressure continues on D-St; Reliance, Tata Motors fall


The Commerce and Industry Ministry has moved a proposal for the consideration of the Cabinet to completely ban foreign direct investment in the tobacco sector, Union Minister Nirmala Sitharaman has said. She said the government did not want to encourage foreign investment in this sector. "We wanted to be sure that for the production of cigarettes or other things (in the tobacco sector), we do not want to encourage FDI because we have ratified the WHO," the Commerce and Industry Minister told PTI in an interview.

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Nifty struggles below 8000 ahead of F&O expiry; Asian Paints up


Equity benchmarks continued to trade lower on profit booking after two-day rally and ahead of F&O expiry. The Sensex was down 103.61 points at 25948.20 and the Nifty down 39.35 points at 7993.95. The market breadth improved as about 1111 shares advanced against 938 declining shares on the BSE. 10:40 am Interview: Dipak Gupta, Joint MD OF Kotak Mahindra Bank, said that it is early to surmise on the impact of demonetisation. He also stressed that the impact is felt not just on the liability side of the bank’s balance sheet but some of it in the short-term gets offset by asset-side gains. He believes that in the event of increasing liability for banks, deposit rates will come down. He mentioned it doesn’t affect the bank's net interest margins.

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Nifty below 8000, Sensex in red; rupee at 9-month low


Federal Reserve policymakers appeared confident on the eve of the US presidential election that the economy was strengthening enough to warrant interest rate increases soon, minutes from the Fed's November 1-2 meeting showed. The minutes released on Wednesday back the consensus view on Wall Street that the Fed is poised to raise rates in December. Policymakers left borrowing costs unchanged earlier this month, just days before Republican Donald Trump triumphed in the Nov. 8 presidential contest. Voting members of the Fed's rate-setting committee saw equal risks the economy would overshoot or undershoot their forecasts for continued growth and a tightening labour market.

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Wednesday, 23 November 2016

Sensex, Nifty gain strength; Lupin, Asian Paints extend rally


Equity benchmarks gained strength in afternoon trade with the Sensex rising more than 100 points, led by banks, healthcare and infra stocks. The 30-share BSE Sensex was up 146.92 points at 26107.70 and the 50-share NSE Nifty gained 42.25 points at 8044.55. The broader markets continued to outperform benchmarks, rising more than 1 percent on strong breadth. About three shares advanced for every share falling on the Bombay Stock Exchange.

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Pharma Update for Today

Cipla said its UK subsidiary has sold its entire stake in Chase Pharmaceuticals Corporation, a Delaware-based corporation, to a subsidiary of Allergan plc. Cipla UK arm, Cipla (EU) had 16.7 percent stake in Chase Pharmaceuticals, which was acquired in May 2014 via a syndicated venture investment. "Allergan has agreed to pay USD 125 million upfront plus potential regulatory and commercial milestones of up to USD 875 million to the shareholders of Chase," the healthcare firm said in its filing.

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Sensex, Nifty sluggish; HDFC, M&M, Wipro major laggards

The market is still rangebound. The Sensex is up 60.02 points or 0.2 percent at 26020.80 and the Nifty is up 18.25 points or 0.2 percent at 8020.55. About 1634 shares have advanced, 712 shares declined, and 160 shares are unchanged. Lupin, Asian Paints, L&T, Tata Steel and NTPC are gainers while HDFC, M&M, Wipro, Bajaj Auto and Maruti are losers in the Sensex. Gold stuck to a narrow range in Asian trade on Wednesday ahead of release of minutes from the Federal Reserve policy meeting earlier this month amid expectations of an interest rate hike in December.


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Sensex, Nifty rangebound; Cap Goods, Metals indices up

The Sensex is up 78.69 points or 0.3 percent at 26039.47 and the Nifty is up 17.45 points or 0.2 percent at 8019.75. About 1423 shares have advanced, 682 shares declined, and 107 shares are unchanged. L&T, Asian Paints, Tata Steel, Lupin and Sun Pharma are top gainers while HDFC, Wipro, BHEL, Maruti and GAIL are losers in the Sensex. Gold prices were up by Rs 59 to Rs 29,162 per 10 grams in futures trade today as speculators raised their bets even as metal weakened overseas.

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Sensex erases gains, Nifty breaks 8000 on profit booking

The new centre and the company's first owned manufacturing facility in the state will focus on fostering innovations and launch of disruptive products for Indian and global consumers, the company said. The 55,000 square foot centre was inaugurated by Karnataka Industries Minister R V Deshpande. The state-of-the-art centre houses analytical, sensory and microbiology labs, in addition to pilot plants for its core product portfolio, which includes biscuits, cakes, rusk, breads and dairy, the company said in a statement. "We aim to be a 'Total Foods' Company in five years from now, serving over a billion Indians four times a day," said Varun Berry, Managing Director, Britannia Industries Limited.

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Nifty below 8000, Sensex flat; L&T up 4%, Wockhardt tanks 3%


The Sensex is down 17.27 points at 25943.51, and the Nifty down 8.85 points at 7993.45. About 1118 shares have advanced, 634 shares declined, and 87 shares are unchanged. 9:50 am Demonetisation impact on GDP: Demonetisation is likely to pull down GDP growth by 1-2 percentage points as it is disrupting economic activities, especially in the informal sector, said former Planning Commission Deputy Chairman Montek Singh Ahluwalia. "The (economic) growth rate is going to be adversely affected. There is no question on that. Somewhere between one to two percent," Ahluwalia said in an interview on TV channel India Today.

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Tuesday, 22 November 2016

Sensex, Nifty marginally higher; HDFC, Reliance, Infosys support


Bliss GVS Pharma's Kenyan arm has won a three-year contract worth USD 111.40 million from Aon Kenya Insurance Brokers. "Bliss GVS Healthcare, the Kenyan step down subsidiary of the company has won a three-year contract worth USD 111.40 million from Aon Kenya Insurance Brokers Ltd for provision of medical healthcare services in Kenya," Bliss GVS Pharma said in a BSE filing. This contract covers outpatient services for over 3,04,060 members, it added. "Service payments will be received by the company from Aon, in advance, on a quarterly basis. Part payment for the first quarter has been received form the company," Bliss GVS Pharma said. Bliss GVS Healthcare runs chain of outpatient medical services clinics in Kenya.
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Sensex, Nifty sluggish; SBI down 2%

The market is sluggish with the Nifty hovering around 7950. The 50-share index is up 28.25 points or 0.4 percent at 7957.35 and the Sensex is up 56.65 points or 0.2 percent at 25821.79. About 1048 shares have advanced, 1346 shares declined, and 169 shares are unchanged. Auto stocks are rising with Bajaj Auto, Hero MotoCorp and Maruti leading the pack. HUL and Adani Ports are other gainers in the Sensex. Among losers are BHEL, SBI, L&T, GAIL and NTPC. The rupee slipped from its initial recovery, dropping 7 paise to Rs 68.23 in late morning deals following bouts of dollar demand from importers despite higher domestic equities.
 
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Nifty breaks 7950, Sensex flat; PSU Bank down 2%, BHEL sinks 3%


The Sensex was up 56.22 points at 25821.36 and the Nifty gained 29.30 points at 7958.40. About 1318 shares declined against 1038 advancing shares on the BSE. Oil prices rose to their highest level since October as the market priced in a potential output cut led by producer cartel OPEC, although analysts warned that a failure to agree a cut could lead to a ballooning supply overhang by early 2017. International Brent crude oil futures rose as high as USD 49.43 per barrel early today, their highest since October 31, and they were trading at USD 49.30 per barrel, up 0.82 percent, from their last settlement.

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Sensex, Nifty volatile; Cipla, Maruti, HUL top gainers


Post demonetisation India’s booming non-banking financial companies space took a major blow as repayments made to them were usually in cash. The first week of demonetisation saw no repayment at all but collection gradually picked post November 9, said Samit Ghosh, CEO and MD of Ujjivan . In an interview with CNBC-TV18 he said the compant has been disbursing loan from whatever repayments they are receiving post the cash ban. On the RBI’s decision to relax loan repayment for banks and NBFCs, as they will get an additional 60 days to for recognizing certain loans as substandard, Ghosh said that this a positive circular in terms of provisioning but it should not be misinterpreted as a two month repayment holiday.
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Sensex, Nifty, Midcap off day's high; L&T slips ahead of Q2 nos

Eric Vas, President of Motorcycle Business at Bajaj Auto, said that post demonetisation there has been a significant decline in the sales of 2-wheelers. It was 50 percent in rural India and 25 percent in urban areas. More importantly, decline in enquiries was down 80 percent across the country, he said. However, in the last four days, we have seen a revival in enquiries, and they have gone up by 30 percent, he added. Vas says it will be difficult to predict what will happen in the long-term, but the increase in enquires does indicate some liquidity is coming back into the market, he said. He stressed how most customers who buy two-wheelers do cash downpayments. He sees a decline of 25 percent this November in sales on a year-on-year basis. However, this currency ban won’t affect its launches, he said.
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Monday, 21 November 2016

Sensex extends losses, Nifty Bank tanks 600 pts; Tata Steel dips


 
Equity benchmarks extended losses in afternoon trade as investors continued to assess the impact of demonetisation on company's earnings and economy. Some brokerages started lowering earnings estimates as well as GDP forecast. The government’s demonetisation drive brings in big challenges to growth in FY17 and FY18, global investment banking firm Jefferies has said in a report. It has also reset Nifty target at 7500. The 30-share BSE Sensex was down 386.41 points or 1.48 percent at 25763.83 and the 50-share NSE Nifty fell 137.70 points or 1.71 percent to 7936.40. The BSE Midcap index shed 2.65 percent and Smallcap tanked 3 percent as six shares declined for every share rising on the exchange. Bank Nifty plunged 600 points as Bank of Baroda, PNB, Federal Bank, Canara Bank, Yes Bank, SBI and IndusInd Bank were down 5-8 percent. Tata Group stocks like Tata Steel and Tata Motors fell nearly 4 percent.
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Sun Pharma, Wockhardt in news on re-inspections, lawsuits


 
The inspection was largely positive in the large scheme of things because the Mohali unit was under an import alert since 2013 and wasn’t contributing financially to Sun Pharma or Ranbaxy. Meanwhile, sources also say that USFDA has begun re-inspection of the Halol unit. Wockhardt, Sun Pharma, Tara, Novartis and other pharma company Perrigo are also in focus on account of reports from the US that there are lawsuits filed by Unions representing the New York Police Department on price collusion of two dermatology products. The allegation is that they have raised prices by around 1000 percent in the last couple of years. Companies like Taro are facing an anti-trust probe by the US Justice Department, say sources.
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Sensex sinks 300 pts, Midcap plunges 2%; IT stocks outperform


Ratings agency Moody's has maintained its stable rating on India in its recent report and expects to see strongest profit growth among corporates in India in the Asia Pacific region. The firm sees sustained economic growth, commissioning of additional production capacity and higher commodity prices that will boost corporate earnings in India. On the recent developments in India with regards to demonetisation, Marie Diron of Moody's Investors Services told CNBC-TV18 that this move is a part of the reform steps undertaken by the government and will prove to be positive for the economy and budget in the medium term. She said that the government may have to cut its fiscal spending but see it meeting its fiscal deficit target of 3.5 percent.

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Bears tighten grip: Sensex, Nifty under pressure


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Bears kept complete control over Dalal Street in afternoon as equity benchmarks as well as broader markets were down between 1 percent and 2 percent despite mixed global cues. The 30-share BSE Sensex was down 315.84 points or 1.21 percent at 25834.40 and the 50-share NSE Nifty declined 116.00 points or 1.44 percent to 7958.10. More than five shares slipped for every share rising on the BSE. Deutsche Bank expects the remainder of 2016 to be highly uncertain, which will keep markets volatile with a downward bias. It cut December 2016 Sensex target to 25,000 (from 27,000 earlier). Nifty PSU Bank fell the most among sectoral indices, down nearly 5 percent. Bank of Baroda plunged 7.5 percent and PNB was down 6.5 percent followed by OBC, SBI, Canara Bank, Union Bank, Syndicate Bank and Allahabad Bank with 3-4.5 percent losses. Cash crunch after demonetisation hit realty stocks badly as analysts expect major impact on earnings. Nifty Realty lost over 4 percent.

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Sensex struggles below 26000; PSU Bank tanks 5%, BoB loses 8%

 
After witnessing a tepid earnings growth for the last few years, markets were looking forward to a return to robust earnings jump in 2H FY17. The optimism stemmed from consumption-focused sectors riding on cash infusion in the economy due to the VII Pay Commission award to Central government employees and OROP to defence personnel (serving & retired) as well as a boost to rural consumption after a near-normal monsoon leading to bumper kharif harvest after two successive years of drought. The currency crunch in the wake of demonetisation and adjustments warranted due to shocks to supply chains and necessity to incorporate tweaks in the mode of conducting business would delay the demand recovery by atleast a quarter, he says.
 
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After witnessing a tepid earnings growth for the last few years, markets were looking forward to a return to robust earnings jump in 2H FY17. The optimism stemmed from consumption-focused sectors riding on cash infusion in the economy due to the VII Pay Commission award to Central government employees and OROP to defence personnel (serving & retired) as well as a boost to rural consumption after a near-normal monsoon leading to bumper kharif harvest after two successive years of drought. The currency crunch in the wake of demonetisation and adjustments warranted due to shocks to supply chains and necessity to incorporate tweaks in the mode of conducting business would delay the demand recovery by atleast a quarter, he says.

Read more at: http://www.moneycontrol.com/news/local-markets/sensex-struggles-below-26000-psu-bank-tanks-5-bob-loses-8_7994441.html?utm_source=ref_article

Friday, 18 November 2016

Sensex, Nifty ranged; Tata Steel, Bharti Infratel top losers


Equity benchmarks remained directionless in afternoon trade with the Nifty hovering around 8100 level while the broader markets turned positive. The 30-share BSE Sensex was down 76.57 points at 26151.05 and the 50-share NSE Nifty fell 9.05 points to 8070.90 whereas the BSE Midcap index was up 0.6 percent and Smallcap gained 0.2 percent on positive breadth. About 1304 shares advanced against 1171 declining shares on the exchange. SBI, Force Motors, ICICI Bank, Hero Motocorp, Petronet LNG, Sun Pharma, Reliance Industries and Maruti Suzuki were most active shares. Tata Steel, Bharti Infratel, Hindalco Industries, ITC, Zee Entertainment, Adani Ports, HUL and HDFC Bank were down 1-2 percent while Eicher Motors, NTPC, Sun Pharma and Hero Motocorp gained 2-4 percent.
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Crude Oil Prices Fall As Dollar Up


Image result for crude oilEquity benchmarks continued to be listless in noon trade with the Nifty gyrating in a 40 points range. Auto, infra, healthcare and oil stocks gained strength but the selling was seen in technology, FMCG, Tata Group and private banks stocks.

The 30-share BSE Sensex was up 20.48 points at 26248.10 and the 50-share NSE Nifty gained 11.25 points at 8091.20.

Oil prices fell as the strengthening US dollar snuffed out rekindled hopes that OPEC might agree production cuts. International Brent crude oil futures were trading down 0.75 percent at USD 46.15 per barrel, from their last close. US West Texas Intermediate (WTI) crude oil futures were trading at USD 44.95 per barrel, down 1.03 percent, from their last settlement.

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Nifty holds 8100, Sensex in green; Hero, Cipla, Bharti gainers

 
In a move to curb black money, government cancelled the legal tender character of Rs 500 and Rs 1000 notes. Banks have been working aggressively ever since to help people in this crisis of currency ban. In conversation with CNBC-TV18, Usha Ananthasubramanian, MD & CEO of Punjab National Bank (PNB), said 200 branches of PNB have been working in double shifts. She said demonetisation has a positive fallout for banks. There is increase in current and savings account ratio (CASA) and deposits of about Rs 42,000 crore have been added to the accounts. There is also increase in new bank accounts. She further said there will be huge inflows towards the end of December. There have been good inflows in loan accounts of about Rs 5000 crore.

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In a move to curb black money, government cancelled the legal tender character of Rs 500 and Rs 1000 notes. Banks have been working aggressively ever since to help people in this crisis of currency ban. In conversation with CNBC-TV18, Usha Ananthasubramanian, MD & CEO of Punjab National Bank (PNB), said 200 branches of PNB have been working in double shifts. She said demonetisation has a positive fallout for banks. There is increase in current and savings account ratio (CASA) and deposits of about Rs 42,000 crore have been added to the accounts. There is also increase in new bank accounts. She further said there will be huge inflows towards the end of December. There have been good inflows in loan accounts of about Rs 5000 crore.

Read more at: http://www.moneycontrol.com/news/local-markets/nifty-holds-8100-sensexgreen-hero-cipla-bharti-gainers_7985161.html?utm_source=ref_article

Dollar Advisory Update Sun Pharma

Image result for sun pharma
The 30-share BSE Sensex was down 44.39 points at 26183.23 and the 50-share NSE Nifty fell 8 points to 8071.95. 
The market breadth remained negative as about 1109 shares declined against 786 advancing shares on the BSE.
ITC, TCS, Tata Motors, HUL, Dr Reddy’s Labs and Wipro slipped 1-1.5 percent whereas Reliance Industries, Sun Pharma, ONGC and NTPC gained 1-2.5 percent.

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F & O Updates For Today

Image result for f &o
FIIs net buy Rs 345 crore in Index Future


FIIs net sell Rs 142 crore in Index Options


FIIs net buy Rs 200 crore in Stock Future
 
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Thursday, 17 November 2016

Sensex, Nifty sluggish; Tata Motors, ICICI, Axis Bank gain

Equity benchmarks remained lacklustre due to lack of domestic as well as global cues. Current consolidation suggested that so far, the market seems to have priced in the effect of demonetisation on equities. Now the street will closely watch its effect on Q3 earnings of auto, FMCG, consumer durables, cement and retail etc, which will be announced in January. The 30-share BSE Sensex was up 37.14 points at 26335.83 and the 50-share NSE Nifty gained 5.30 points at 8116.90. The market breadth remained weak as about 1254 shares declined against 934 advancing shares on the BSE. Tata Motors was the biggest gainer on the Sensex, up 2.6 percent followed by ICICI Bank, Axis Bank, ONGC and Cipla with over a percent gain. PSU Banks continued to climb higher as deposits have been piling up after the government banned a legal tender of Rs 500 and Rs 1000 notes. Nifty PSU Bank index rose over a percent as Bank of Baroda, Canara Bank, Allahabad Bank, Union Bank, PNB, Bank of India, OBC and SBI gained 1-2 percent.
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Tata Sons board meet may discuss removing Mistry's proxy powers


The Board of Tata Sons will be meeting on Thursday, which will be the first meet since the ouster of Mistry, who is likely to have confirmed his attendance to the meeting. The agenda of the meeting reportedly includes discussing earnings of the group companies, overall performance and outlook. Although the independent boards of Tata Motors and Indian Hotels have affirmed their faith in Cyrus as Chairman, Mistry might it difficult to cobble together support from other group companies.
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Asia shares current market updates

Asian shares won the reprieve from a rally in Wall Street shares as the sell-off in global bonds and sharp gains in the dollar paused for now.
 
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.2 percent in early trade on Wednesday, bouncing back from a four-month low touched the previous day.

Japan’s Nikkei rose 1.0 percent to nine-month high thanks to the fall in the yen against the dollar.


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Wall Street Market Update

Wall StreetDow, S&P 500 drop as US bank rally wanes, tech boosts Nasdaq The S&P 500 closed lower and the Dow ended a seven-day rally on Wednesday as financial stocks fell but gains in technology stocks helped Nasdaq end the day higher.

The Dow Jones industrial average closed down 54.92 points, or 0.29 percent, to 18,868.14, the S&P 500 lost 3.45 points, or 0.16 percent, to 2,176.94 and the Nasdaq Composite added 18.96 points, or 0.36 percent, to 5,294.58.

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Nifty breaks 8100 amid consolidation; Bajaj Auto, Hero Moto slip


The Indian Alternative asset manager Blackstone Group and Canadian investor Brookfield are vying with each other to pick up around 40 percent stake in Bharti Infratel. While Brookfield is bidding on its own, Blackstone is throwing its hat in the ring with private equity fund KKR & Co and Canada Pension Plan Investment Board , according to a media report quoting unnamed sources. A 40 percent stake sale in Bharti Infratel will cost around Rs 27,000 crore as per Wednesday's closing price. Bharti Airtel owns 72 percent in Infratel, wihle the remaining is vested with public shareholders. The government’s demonetisation move impacted paints demand by nearly 40-50 percent initially, said Abhijit Roy, MD & CEO of Berger Paints. However, Roy clarifies that the primary sale to dealers is not impacted but the demand from customers to dealers has reduced on back of concerns over availability of cash.

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Wednesday, 16 November 2016

Nifty ends marginally above 8100

ITC was hammered 3 percent at closing. ITC, Sun Pharma & Kotak Mahindra Bank dragged benchmark indices the most. Out of the total, 4 of top 5 Nifty losers were pharma stocks. After briefly slipping below 8100 just before closing, the Nifty ended at 8111.60 up 3.15 points and the Sensex was down 5.94 points at 26298.69. About 1056 shares advanced, 1543 shares declined, and 155 shares were unchanged. As market continues to battle backlash of demonetisation for another day, Gautam Chhaochharia of UBS Securities has said that disruption is short-term. UBS Securities expects it to last not more than a month. Chhaochharia said private banks are likely to benefit from CASA rising on account of demonetisation. He said that he expects NBFCs to see short-term impact on loan disbursements. He added that valuations in pharma sector look reasonable and is underweight on IT.

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