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Showing posts from March, 2018

Sensex down 150 points; Alkem Lab, Persistent Systems stocks down

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Domestic benchmark indices continued to trade in the negative territory led by losses in shares of metal, infrastructure, and oil and gas companies.

At 2:10 PM, the BSE Sensex was trading at 33,022, down 151 points, while the Nifty50 index was trading at 10,142, down 42 points.

The BSE Midcap and the BSE Smallcap indices was down by 0.48% and 0.80%, respectively.

Nifty Metal was the worst performer among sectoral indices on the NSE, down 1.5%, as investors booked profits after Tuesday's gains.

Nifty Auto was the top gainer among sectoral indices, up 0.3%.

Shares of Jet Airways India fell over 3.5% after media reports said the company has deferred payment of March salary to its staff. 

Alkem Lab stock fells 11% after USFDA issued Form 483 with 13 observations for its Daman plant.

Persistent Systems stock tanked 10% after the IT company informed the exchanges that it is expecting a decline in IP revenues for Q4FY18, which is about to wrap up shortly.

HAL listed at 5% discount to its issue p…

Nifty below 10,150 mark; Fortis, Tata Steel stocks fall

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Domestic share indices made a negative start to the session with broad-based losses led by metal, bank and information technology stocks, and weighed down by subdued trend across most global markets.

A month-on-month fall in goods and services tax collection in February and expiry of the March derivatives series today exacerbated the weakness.

At 12:03 PM, the BSE Sensex was trading at 33,024, down 150 points, while the Nifty50 index was trading at 10,141, down 42 points.

The BSE Midcap and the BSE Smallcap indices was down by 0.20% and 0.42%, respectively.

Hindustan Aeronautics scrip was listed today at Rs1,169 apiece on the BSE, a 3.8% discount to the issue price of Rs1,215.

Persistent Systems stock tanked over 9% after the IT company informed the exchanges that it is expecting a decline in IP revenues for Q4FY18, which is about to wrap up shortly.

Mylan and Biocon receive approvals from the European Commission and TGA Australia for semglee, biosimilar insulin glargine. Biocon stock rose…

Nifty trades above 10,150 mark; Banking, Metal stocks up

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Benchmark share indices held on their gains helped by a sharply higher opening in European markets, that signaled a revival in investor sentiment as fears of a global trade war eased.

Gains in shares of public-sector banks and metal stocks also supported domestic indices. The Nifty PSU Bank index was up over 2.5% and was the top gainer among sectoral indices, while the Nifty Metal index rose 1.5%.

However, caution ahead of expiry of the March derivatives series on Wednesday and a holiday-truncated week limited gains.

At 2:12 PM, the BSE Sensex was trading at 33,226, up 161 points, while the Nifty50 index was trading at 10,191, up 61 points.

The BSE Midcap and the BSE Smallcap indices rose 1.20% and 1.39%, respectively.

Shares of Bandhan Bank made a strong debut on the NSE, as the scrip got listed at Rs499, a 33% premium to the issue price of Rs375. The stock is currently trading at Rs474.30, up by Rs99.3 or 26.48% from its previous closing of Rs375 on the BSE.

JMC Projects (India) has secu…

Sensex, Nifty off day’s high; Bandhan Bank, Suzlon stocks gain

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Equity benchmark indices made a positive start to the session with broad based gains, led by a surge in shares of public sector banks and metal companies, and supported by a positive trend across most global markets.

However, caution ahead of expiry of the March derivatives series on Wednesday and a holiday-truncated week limited gains.

At 10:19 AM, the BSE Sensex was trading at 33,174, up 107 points, while the Nifty50 index was trading at 10,156, up 25 points.

The BSE Midcap and the BSE Smallcap indices rose 1.23% and 1.56%, respectively.

Bandhan Bank stock opened at a premium of 29% at Rs 485 against its issue price of Rs 375 per share.

The Nifty PSU Bank index rose over 1.5% with all constituents trading in green, as the government's plan to cut Apr-Sep borrowing through dated securities by nearly 23% from a year ago is seen cutting the banks' treasury losses.

Shares of Punj Lloyd surged over 10% on Rs505cr order from the National Highways Authority of India.

Dilip Buildcon has be…

Nifty above 10,050 mark; Jubilant Foodworks, Yes Bank stocks gain

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Equity benchmark indices are trading flat after the massive corrections and downfall seen during the last week. Today’s gains were led by SBI, HDFC twins, Yes Bank and ICICI Bank.

At 1:48 PM, the BSE Sensex was trading at 32,843, up 246 points, while the Nifty50 index was trading at 10,052, up 54 points.

The BSE Midcap and the BSE Smallcap indices up 0.33% and 0.25%, respectively.

On BSE Sensex, Oil and Gas Sector continues its downward trend and is the biggest losing index in today’s trade due to the rise in global crude oil prices. The large-cap companies like GAIL, Hindustan Petroleum, IOC and BPCL have dragged the index down. Only Reliance is trading marginally in green in this index. IOC’s 743,000 shares have already been traded till mid-day.

IT Sector has also slipped over 1% majorly contributed by two giants namely Infosys and Wipro. Infosys contributed 92 points while Wipro contributed 32 points out of the total fall by 143 points. Subex Ltd., a small cap company, is being traded…

Nifty off day’s low; Sensex down 400 points

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Nifty recovered and is trading off day's low amid some buying momentum seen in the IT stocks. However, the psychological 10,000 mark continues to remain stiff resistance at the current juncture. Bank Nifty, on the other hand, remains under pressure, a break below today's low would further accentuate selling pressure.

The benchmark Nifty 50 index plunged below the psychologically crucial level of 10,000 points for the first time since October as investors grapple with multitude of concerns including a trade war between the US and China.

The Nifty 50 followed its peers in Asia and the US today after US President Donald Trump signed a memorandum approving the impositions of tariffs on Chinese goods worth up to $60bn, sparking fears that it may lead to a tit-for-tat tariff war between the world's two largest economies.

Nifty 10,000 and 9,900 strike price put options were among the most active options contracts on the National Stock Exchange.

Nifty 10,000 strike price put option sa…

Sensex, Nifty plunge as trade war fear escalates

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Benchmark domestic indices opened sharply lower today with the Nifty 50 slipping below the 10,000 mark for the first time since Oct 12, 2017. 

Indices fell mirroring a selloff in Asian and US equities on fears that a trade war could throttle global growth after US President Donald Trump signed a memorandum that targets tariffs on imports worth up to $60bn from China. Reports that China has retaliated to Trump's decision further weighed on sentiment.

Asian share indices were mostly down in early trade today, tracking the negative overnight movement in US and European equities. Equity markets in the US and Europe fell as risk-appetite took a hit due to the likelihood of heightened trade protectionism under President Donald Trump's regime. Investors also assessed German Chancellor Angela Merkel's comments indicating that she was pessimistic over the European Union's ability to negotiate an exemption from these tariffs.

All the Nifty 50 stocks and sectoral indices slipped in…

Indices higher on global cues; PSU banks, realty stocks gain

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Domestic benchmark indices opened higher today mirroring positive global cues, and were led by gains in shares of public sector banks and real estate companies.

Nifty PSU Bank was the best performer among sectoral indices on NSE, up 1.6%, led by gains in shares of State Bank of India, Allahabad Bank, and Andhra Bank.

Asian equity markets traded on a mixed note in early trade today. While overnight gains in US equities underpinned sentiment, investors exercised caution ahead of the outcome of the US Fed meet. The Fed will wrap up its two-day monetary policy meeting later today.

US stocks pared losses made in the previous day as most market players expect the Fed to hike the federal funds rate by 25 basis points. Investors await the dot plot along with the policy statement that is an aggregate of policy makers' forecast for future interest rates.

The yield on the 10-year US Treasury ended four basis points higher due to strong expectations of an upbeat outlook for economic growth in the…

Nifty holds 10,100 mark as IT cos gain; Cipla recovers

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Benchmark domestic indices rose, on the back of gains in the shares of information technology companies, public sector banks, and infrastructure companies.

At 2:03 PM, the BSE Sensex was trading at 32,989, up 65 points, while the Nifty50 index was trading at 10,123, up 28 points.

The BSE Midcap and the BSE Smallcap indices were up 0.29% and 0.02%, respectively.

On BSE Sensex, NTPC and Hindalco are trading at massive volumes of 2 million and 1.6 million respectively. In terms of number of trades, Tata Steel tops the list with 9,665 trades followed by Cipla with 7,852 trades.

Infosys and Larsen and Toubro contributed the most to the gain in BSE Sensex with 24 points and 22 points respectively. HDFC and Tata Steel were responsible for gains in equity benchmark index to the extent of 21 and 14 points respectively out of the total gain of 87 points.

The Nifty IT index was the top gainer among all sectoral indices on the NSE, up 1.4%, led by gains in the shares of HCL Technologies, Wipro and Te…

Indices extend losses; Sensex down 200 points

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Benchmark indices extended losses in afternoon trade, with the Sensex falling over 250 points amid political uncertainties, and also heavy selling pressure that was witnessed in metals, banking, oil and gas stocks, media and IT stocks. Earlier today, the Nifty index dropped below 200-DMA.
Market sentiment was largely subdued ahead of US Federal Reserve's two-day meet.
At 2:40 PM, the BSE Sensex was trading at 32,962, down 254 points, while the Nifty50 index was trading at 10,113, down 82 points.
The BSE Midcap and the BSE Smallcap indices down by 1.64% and 2.04%, respectively.
Shares of Indian Oil Corp and Bharat Petroleum Corp fell 4% each after a media report said both the companies are set to buy 26% stake each in GAIL India from the government.
Shares of Shilpa Medicare rallied 6% as EIR issued by USFDA for its Telangana facility.
Shares of Gateway Distriparks down 1%, extending after the foreign portfolio investor (FPI) Morgan Stanley reduced its stake in the company through…

Nifty hits fresh 2018 low; Tata Steel, Electrosteel Steels stocks down

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Benchmark indices failed to sustain their opening gains. Nifty hit a fresh 2018 low weighed by oil marketing companies, technology, metals and banks stocks. Earlier today, the index broke below 200-DMA. 

Losses in the ICICI Bank, Infosys, SBI, Tata Steel and Kotak Mahindra Bank also weighed.

Market sentiment was largely subdued ahead of US Federal Reserve's two-day meet.

At 11:42 AM, the BSE Sensex was trading at 33,066, down 110 points, while the Nifty50 index was trading at 10,160, down 34 point.

The BSE Midcap and the BSE Smallcap indices down by 1.40% and 1.46%, respectively.

Shares of Indian Oil Corp and Bharat Petroleum Corp fell 4% each after a media report said both the companies are set to buy 26% stake each in GAIL India from the government.

Shares of Graphite India rose 1% after foreign investment firm Vanguard purchased 0.7% stake in the company on Friday.

VA Tech Wabag stock gained 2% after Porinju Veliyath's Equity Intelligence bought 0.35% stake or about 1.9 lakh share…

Top stocks in focus today: IOC, BPCL, Zee, Ashoka Buildcon

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IOC and BPCL may buy 26% stake each in the gas utility company of India - GAIL, as per media reports. This may lead to paying the government over Rs20,000cr each to become integrated energy firms.

Shilpa Medicare has notified that its manufacturing unit at Jadcherla has received EIR from the USFDA. The status of the unit is VAI (voluntary action indicated), which means that the unit has a clear status from USFDA.

State Bank of India sold 22lakh shares or 4.40% stake in Clearing Corp of India,

NBCC has bagged Rs2,000cr road construction project.

UltraTech has filed a petition with the NCLT seeking the cancellation of the lenders’ vote in favour of the Dalmia-led resolution offer.

Ashoka Buildcon's subsidiary Ashoka Concessions has emerged as 'the Lowest Bidder' at the financial bid opening meeting for a Gujarat project under NHDP Phase - VI on Hybrid Annuity mode (Phase IA-Package IV) ('Project')'. The company quoted bid project cost is Rs1,687cr.

Thermax Group has co…

ELSS: Advantages and disadvantages explained

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ELSS (equity-linked savings schemes) have caught up with other modes of investment over the past few years. However, their growing popularity has led to a ton of misinformation being available on the internet. This article is intended to educate potential investors about the advantages and disadvantages of investing in ELSS funds in 2018.

The major advantage that ELSS funds have over other tax-saving investment options is their short lock-in period of three years as compared to alternatives like the National PensionScheme (NPS), which has an effective lock-in period of 18-20 years. Moreover, ELSS funds are majorly equity-oriented and deliver better returns in the long-run.

Here are a few advantages and disadvantages of investing in ELSS funds.

Advantages Tax-efficient and lucrative ELSS funds are among the most tax-efficient investments. The amount invested in an ELSS fund can be claimed as a deduction u/S 80C to an upper limit of Rs1.5 lakh. These are probably the only mutual funds that…