Aug 28, 2013, 10.40 AM IST
Rupee hits record low below 68 per dollar
The partially convertible rupee was
trading at 68.00/68.05 per dollar, after hitting a record low of 68.05
and down more than 2.6 percent from its close of 66.24/25 on Tuesday.
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The partially convertible rupee was trading at 68.00/68.05 per dollar, after hitting a record low of 68.05 and down more than 2.6 percent from its close of 66.24/25 on Tuesday.STOCK
The Nfity fell more than 3 percent on foreign selling worries
Aug 27, 2013, 09.44 AM IST
Nifty may trade between 5500-5400: Magnum
According to Magnum Equity Broking, Nifty is expected to trade between 5500 and 5400 with downward biasness.
Indian markets rose on Monday to close at their highest in nearly a week
with Sesa Goa surging a day ahead of its inclusion in the benchmark
index while IT stocks rose on hopes of better realisations as the rupee
resumed its fall against the dollar. The benchmark BSE Sensex rose 0.21 percent, or 38.69 points, to end at 18,558.13, to mark their third consecutive day of gains. The broader Nifty rose 0.09 percent, or 4.75 points, to end at 5,476.50 - its highest close in nearly a week.European shares closed slightly lower on Monday with fears of a government collapse in Italy dragging down the FTSE MIB, and with U.K markets closed for a holiday. US Stocks reversed their earlier gains in the last hour of trading to close near session lows Monday, with the Dow ending below the psychologically-important 15,000 level, as traders cited jitters over Syria.STOCK NIFTY TIPS
Global cues are not positive today & SGX Nifty is showing 43 points cut in morning trade indicating that Indian market would open soft today and Nifty is expected to trade between 5500 and 5400 with downward biasness.
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Aug 27, 2013, 09.30 AM IST
Markets likely to trade on negative bias: Way2Wealth
According to Way2Wealth market report, markets are likely to trade on negative bias tracking weak global cues.
Markets closed marginally positive amid volatile trading session, led by
buying among power, capital goods and healthcare shares, amid hopes of
higher capital inflows.Markets are likely to trade on negative bias tracking weak global cues. Domestically, markets will keep a close eye on the rupee movement after its sharp fall yesterday. Sustained foreign selling in equities has continued to raise concerns about the widening current account deficit, weighing on the June-quarter GDP data.STOCK FREE TRAILS
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Aug 26, 2013, 09.36 AM IST
Gold eases on stimulus fears after early jump over $1,400
Gold erased early gains that pushed it
past USD 1,400 mark to an 11-week high, slipping on uncertainty over
whether the US Federal Reserve will wind back its stimulus measures from
next month.
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FUNDAMENTALS
Spot gold was down 0.1 percent at USD 1,394.79 an ounce by 0027 GMT. It had gained 1.6 percent on Friday after weak U.S. home sales.
The metal breached the USD 1,400 mark early on Monday, jumping to a 11-week high of USD 1,406.01.
COMMODITY FREE TIPS
The Fed could announce a cautious first step in tapering bond purchases at its meeting next month, provided there were no "really worrisome" signs the economy was faltering, a top US central banker said on Saturday.
Also Read: Gold shortage may cause cancellaton of export orders in Sep
South Africa's National Union of Mineworkers gave gold mining companies seven days on Saturday to meet its demand for pay rises of up to 60 percent or face strike action.
SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings rose 0.72 percent, or 6.61 tonnes, to 920.13 tonne on Friday.
Hedge funds and money managers boosted bullish bets in gold futures and options to their highest level since early February, buoyed by the uncertain timing of the Fed's planned unwinding of its bond-buying stimulus, a report by the Commodity Futures Trading Commission showed on Friday.
ETF Securities, a pioneer of exchange traded funds as a tool for investors to buy into gold at a time when prices were rising, offered to let them swap shares for coins subject to a fee charged by Britain's Royal Mint.
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Aug 26, 2013, 09.00 AM IST
Above 5500, Nifty may test 5650: Dolat Capital
According to a derivative report by
Dolat Capital, if Nifty sustains above 5500, we may see further upside
to 5650 on the back of short covering.
On Friday, Nifty rallied further to 5470 on the back of short covering in Oil&Gas, Auto and buying in Banks & Finance. Nifty and MW rolls have not yet picked up. On weekly basis, Nifty and Nifty stocks have added shorts. Overall data suggest that shorts are still holding on to their positions. However, if Nifty sustains above 5500, we may see further upside to 5650 on the back of short covering.
STOCK NIFTY TIPS
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Aug 23, 2013, 10.25 AM IST
Live Market Updates: Rupee at 64.65/USD; Sensex flat, Nifty hovers around 5400
The market looks feeble once again as
it quickly slipped in the red just as it opened in positive terrain. The
Sensex slips 1.58 points or 0.01 percent at 18311.36 and the Nifty is
holding 5400, up 0.15 points at 5408.60.
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"Bharti's return on capital employed (ROCE) has dropped another 140 basis points to 5.8 percent and there is high risk of significant spectrum payments. With the stock trading at 25 times FY15, we maintain their underperform call," CLSA report said.
According to a media report, Bharti Airtel, India's largest telecom operater, is in talks to sell its Sri Lankan operations to Abu Dhabi-based Etisalat.
9:40 am Update: Reliance Industries and its partner BP have announced a new gas condensate discovery off the east coast in the Cauvery basin. The energy giant has notified the government and the Directorate General of Hydrocarbons about the discoveryn maed- D-56.
Preliminary evaluation of well data and fluid samples indicate presence of gas condensate in the reservoir interval with a gross column of 143 metres. The well reached its total depth and RIL , as an operators has conducted drill stem test to evaluate the potential of the discovery. The stock is trading flat on the BSE.
9:35 am View on rupee: Credit Agricole said it does not see value in the rupee below 70 to a dollar unless foreign capital returns and that it would not recommend buying the currency for fundamental reasons below 75 to the dollar.
"The only long-term solution - deep economic, political and social reforms - is unlikely ahead of the upcoming elections and possibly for years to come," Credit Agricole said in a note dated August 21, adding to the chorus of bearish bets on the rupee.
"Even if such reforms are announced this year, this may not help much given that a new government may be in power next year and its commitment to reforms is unknown," it said.
9:25 am Movers and losers: Dr Reddys Labs , ITC , Sun Pharma , GAIL and Cipla are top losers in the Sensex. Major gainers include Jindal Steel , Tata Motors , BHEL , Hindalco and TCS .
Don't miss: China a 'stallion' amid emerging market turmoil
The market looks feeble once again as it quickly slipped in the red just as it opened in positive terrain. The Sensex slips 1.58 points or 0.01 percent at 18311.36 and the Nifty is holding 5400, up 0.15 points at 5408.60. About 305 shares have advanced, 102 shares declined, and 25 shares are unchanged.
The rupee recovered further on Friday, opening 25 paise higher at 64.30 per dollar as against previous close of 64.55 per dollar.
SHARE, STOCK TIPS
The currency had touched a record low of 65.56 per dollar Thursday, but later on, it had managed to recover from that level to close at 64.55.
Himanshu Arora of Religare feels the slide in rupee may pause on the back of recent steps by the government to curb the downfall in domestic currency and indications by the US Fed that they are not in a hurry to withdraw its stimulus programme.
According to him, the range for the rupee is seen between 64 to 65.15/USD.
The euro was trading around 1.33 to the dollar. The dollar index rose marginally to 81.50 level.
Meanwhile, RBI's annual report said a recovery is possible by the end of the year on the back of better agricultural growth. It said household financial savings are up and investment in gold is down. It added that expects current account deficit to come down from the second quarter.
Ratings agency Fitch has dispelled some fears that India may be staring at a ratings downgrade. It has maintained its stable outlook for India’s triple-B-minus rating.
In the global front, US markets rebounded to close higher on Thursday and Europe too clocked in gains on the back of upbeat PMI data. Indian indices reversed all the previous day's losses with the Sensex gaining more than 400 points while the Nifty gained 105.90 points to shut at 5408.45.
Asian markets were trading positive in morning with Japan up over 2 percent.
Brent crude continued to hover around USD 109 per barrel. From precious metals space, gold rose slightly following bullish Chinese manufacturing data.
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Aug 22, 2013, 09.30 AM IST
Nifty may trade between 5320-5200: Magnum Equity Broking
Nifty is expected to trade between 5320 and 5200 with downward biasness, says Magnum Equity Broking.
Indian markets fell nearly two percent on Wednesday to close at their
lowest in almost a year as blue chips slumped on fears of foreign
investor selling after the rupee hit new lows ahead of a U.S. Fed report
that may give details of its stimulus policy.The BSE Sensex fell 1.86 percent, or 340.13 points, to end at 17,905.91, marking its lowest close since September 11. The Nifty fell 1.83 percent, or 98.90 points, to end at 5,302.55 after earlier rising as much as 1.9 percent on the RBI's steps to ease cash and bond holding rules.
European shares closed down on Wednesday, as investors looked ahead to the release of minutes from the Federal Reserve's July policy meeting. US Stocks tumbled again in the final hour of trading to close near session lows in heavily volatile trading Wednesday, with the Dow posting its sixthstraight day in the red.TRADING NSE BSE TIPS
Global cues are negative today with them SGX Nifty is showing 51 points cut in morning trade indicating that Indian market would open with downward gap and Nifty is expected to trade between 5320 and 5200 with downward biasness.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Aug 22, 2013, 09.18 AM IST
Markets may open on negative note: Nirmal Bang
According to Nirmal Bang, markets are
likely to open on a negative note following the negative global cues and
can remain under pressure later during the day.
The Indian markets traded in a extremely volatile trading session on Wednesday. The Nifty
has experienced a movement of more than 4.5 percent in a single trading
session. The markets experienced a gap up opening of almost 2 percent
on account of RBI measure but once again weakness in rupee weighed on
the markets.FIIs were net sellers in cash to the tune of 792.1 crore where as they bought in the Index Future to the tune of 198.8 crore.
India VIX has reported an increase of 3.16 percent to close at 28.09 touching an intra-day high of 29.81. The highest put OI build to the tune of 9.20 million at 5300 level is expected to provide support to the markets for next few days. But the continues flow of negative news has kept markets in lot of uncertainties.
Highest OI build-up is seen at 5700 Call and 5300 strike Put, to the tune of 8.24 and 9.20 million respectively.
NIFTY FREE TIPS
Markets are likely to open on a negative note following the negative global cues and can remain under pressure later during the day.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Aug 21, 2013, 09.50 AM IST
Nifty may trade between 5500-5380: Magnum
According to Magnum Equity Broking, Nifty is expected to trade between 5500 and 5380 with positive biasness.
Indian markets pared some of their initial losses, but closed at lowest
in almost a year on Tuesday, weighed down by blue chips as the rupee hit
a record low and on expectations of a cut in US stimulus as early as
next month. The benchmark BSE index fell 0.34 percent, or 61.48 points,
to end at 18,246.04, marking its third consecutive day of falls. The broader NSE index declined 0.25 percent, or 13.30 points, to end at 5,401.45, after falling as much as 2 percent earlier in the session. Indian shares have slumped nearly 6 percent in the last three sessions as the rupee went past 64 to the dollar and bond yields spiked to a five-year high as Asia's third-largest economy bore the brunt of the global emerging markets selloff.SHARE FREE TIPS
European shares closed broadly lower on Tuesday amid continuing concerns over a potential reduction in asset buying by the US central bank. US Stocks eased off their highs in the final minutes of trading to close narrowly mixed Tuesday, with the Dow logging its fifth-straight day lower. But losses were limited as handful of retailers and as bond yields receded from two-year highs.
Global cues are mixed today, but SGX Nifty is showing 72 points up move in morning trade indicating that Indian market would open with a positive gap today and Nifty is expected to trade between 5500 and 5380 with positive biasness.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Aug 16, 2013, 12.36 PM IST
BSE Sensex drops 460 pts; Bank Nifty at 14-month low
Bank Nifty is trading at 14-month low and it marked the biggest percentage loss since July 2009, losing 4.36 percent to 9589.50.
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Tirthankar Patnaik of Religare Capital Markets says that he is bullish on IT & healthcare sectors while bearish on banks.
"We are positive on Infosys, TCS & Tech Mahindra in IT space, and Sun Pharma, Lupin & Dr Reddys Labs in pharma space," Patnaik says.
He expects the Nifty will continue to trade in range of 5500-6100.
Also Read - Nifty may slide below 5500 in near-term: Citrus Advisors
12:30pm Expert Talk
Ajay Srivastava of Dimensions Consulting says that he will not buy into banking space at this point. There is no reason to buy this market now, he adds.
"I am not ruling out another 200-250 points correction in Nifty," Srivastava says.
Also Read - Incremental relief on CRR/SLR not very material: SBI
12:20pm Gainers & Losers
Wipro and Hero MotoCorp shares gained nearly one percent after MSCI increased weightage in its India Index.
Capital goods major BHEL topped the buying list among Sensex 30 stocks while L&T lost 4 percent.
Mark Mobius of Templeton AMC is very cautious on infrastructure and capital goods names like L&T and BHEL.
Reliance Industries, TCS, Infosys, Hindustan Unilever and ONGC shares dropped 2 percent each.
Also Read - Switch from IT, exporting cos to private banks: JPMorgan
12:10pm Expert Outlook
Anu Jain of IIFL feels that the Nifty is heading to 5470 level. "No buying will emerge if Nifty breaks 5500," she adds.
Jain expects banks to continue falling further. 9200 could be breached on Bank Nifty, feels Jain.
Also Read - EMs to be under pressure due to QE tapering: Kotak Inst'l
12:00pm The market remained under pressure in noon trade with the 50-share NSE Nifty falling 2.7 percent, weighed down by across the board selling.
The Sensex is down 458.94 points at 18908.65, and the Nifty is down 154.55 points at 5587.75 while the Midcap and Smallcap indices lost 1.5-2 percent.
Declining shares outnumbered advancing ones by 1346 to 525 on the Bombay Stock Exchange.
STOCK TIPS
Mark Mobius of Templeton AMC feels that the market is concerned on goverment's ability to keep money flow into Indian market. India downgrade can not be ruled out, he adds.
Bank Nifty is trading at 14-month low and it marked the biggest percentage loss since July 2009, losing 4.36 percent to 9589.50.
Axis Bank, Bank of Baroda, YES Bank and Canara Bank are the prominent losers among banks while Kotak Mahindra Bank, Punjab National Bank and IndusInd Bank dropped more than 4.5 percent.
Country's largest lenders State Bank of India, ICICI Bank and HDFC Bank lost 3-4 percent.
Meanwhile, the Indian rupee recovered from its record low of 62 against the dollar. Currently it is trading at 61.68, down 25 paise compared to Wednesday's closing value of 61.43 per dollar.
Mobius believes the rupee will continue to be under pressure.
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Aug 13, 2013, 09.26 AM IST
Nifty slips below 5600; rupee at 61.56/USD, DLF gains 5%
The market has opened in the negative
zone. The Sensex is down 56.91 points at 18890.07, and the Nifty loses
12.15 points at 5600.25.
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The Indian rupee opened lower at 61.37 per dollar versus 61.27 yesterday. It is currently at 61.56 per dollar.nifty free tips
Arvind Narayanan, DBS Bank said, "The rupee is likely to strengthen marginally on the announcements made by the Finance Minister. While these measures will help the rupee in the short-term, long-term issues will exert pressure on the rupee. The range for the day is seen between 60.80-61.20/USD."
The euro slipped to sub 1.33 levels to the dollar. The dollar index was at 81.50. The dollar yen stays around 96 levels.
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Aug 13, 2013, 08.59 AM IST
Resistance for Nifty at 5650: Nirmal Bang
According to Nirmal Bang, Nifty has
immediate resistance at 5,650 levels on the upside and on a decisive
close above expect rise to 5,750 and 5,800 levels.
Nifty formed a bullish pattern on the daily charts which has confirmed a
positive bias. The index has managed to hold the crucial support of
5,500 levels and bounced sharply. There is an immediate resistance at
5,650 levels on the upside and on a decisive close above expect rise to
5,750 and 5,800 levels.Bank Nifty faces strong resistance around the 9,850 levels on the upside where selling pressure is expected. There is an immediate support at 9,600 levels and on a decisive close below one can expect further weakness and declines to 9,450 levels.STOCK TIPS
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Aug 12, 2013, 09.25 AM IST
Nifty opens above 5600; Sun Pharma, Cipla rally post Q1 nos
Top lender State Bank of India dropped
over one percent ahead of April-June quarter earnings in afternoon
today. Sun Pharma topped the buying list, gaining more than 4 percent
after first quarter earnings.
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Top lender State Bank of India dropped over one percent ahead of April-June quarter earnings in afternoon today.STOCK NIFTY TIPS
The BSE Sensex is up 107.99 points at 18897.33, and the NSE Nifty is up 30.35 points at 5596. Advancing shares outnumbered declining ones by 495 to 176 on the BSE.
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Aug 12, 2013, 09.08 AM IST
Rupee gains 41 paise in opening trade at 60.47/dollar
On Monday the Indian rupee opened
higher by 41 paise at 60.47 per dollar versus 60.88 Thursday. "RBI has
announced issuance of short-term paper to mop up liquidity in order to
stabilise the rupee. The rupee will have a marginal positive reaction,
but other asset classes such as bonds and equities will likely be
weaker, says Rajeev Malik, CLSA.
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Rajeev Malik, CLSA said, "RBI has announced issuance of short-term paper to mop up liquidity in order to stabilise the rupee. The rupee will have a marginal positive reaction, but other asset classes such as bonds and equities will likely be weaker. We retain our 2014-end forecast of 65/USD for the rupee."
The euro holds above 1.33 to the dollar. The dollar index was around 81.10 levels, while the dollar yen was around 96.
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Aug 08, 2013, 09.25 AM IST
Support for Nifty at 5480: Nirmal Bang
According to Nirmal Bang, Nifty has an
immediate support at 5,480. There is an immediate resistance at 5,580
levels on the upside and on a decisive close above expect rise to 5,730
and 5,760 levels, it said.
Nifty has an immediate support at 5,480 levels and if this low is
sustained for couple of trading session and one can expect a short
bounce as most of the technical indicators remain in the oversold
territory. There is an immediate resistance at 5,580 levels on the
upside and on a decisive close above expect rise to 5,730 and 5,760
levels.Bank Nifty faces immediate resistance around the 9850 levels on the upside and on a decisive close above expect rise to 10,180 and 10,320 levels. There is an immediate support at 9660 levels on the downside.
NIFTY FREE TIPS
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Aug 08, 2013, 09.08 AM IST
Rupee opens at 61.20 per dollar
The Indian rupee opened at 61.20 per
dollar versus 61.29 yesterday. "Dollar demand in the offshore market is
exerting pressure on the rupee. Weak equities and high dollar demand
from domestic importers will further hurt the rupee further," he adds.
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Mohan Shenoi, Kotak Mahindra Bank said, "Dollar demand in the offshore market is exerting pressure on the rupee. Weak equities and high dollar demand from domestic importers will further hurt the rupee further. The range for the day is seen between 60.80-61.50/USD."
Aug 07, 2013, 09.08 AM IST
Nifty may open flat: ICICIdirect.com
The Nifty is likely to open flat on the
back of subdued global cues. The index is likely to trade in the range
of 5550-5660, says ICICIdirect.com.
The Nifty
is likely to open flat on the back of subdued global cues. The index is
likely to trade in the range of 5550-5660. The trading strategy would
be to create shorts near 5640-5645 for targets of 5610 and 5590. On the
other hand, one can enter longs only if the index sustains above
5550-5560.The Bank Nifty is expected to remain under selling pressure until it trades below 10000. Next possible support is visible near 9500.NIFTY TIPS
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Aug 06, 2013, 09.30 AM IST
BSE Sensex weak, midcaps fall; rupee below 61/USD, IT up
The market has opened on weak note as
the Sensex falls 82.49 points to19099.77 while the Nifty is down 26.95
points at 5658.45. About 148 shares have advanced, 336 shares declined,
and 32 shares are unchanged.
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The Indian rupee opened weak by 17 paise at 61.05 per dollar versus 60.88 yesterday.
Jayesh Mehta, Bank of America said, "The rupee is likely to open weak on a slightly stronger dollar. However, reduction in month-end dollar demand could help the rupee to appreciate. The range for the day is seen between 60.05-60.65/USD."
INTRADAY TIPS
The euro holds above 1.32 to the dollar. The dollar index slipped to sub 82 levels. The dollar-yen was around 97.
Meanwhile, in earnings to watch today- Crompton Greaves' April-June topline is expected to come in steady with a 9 percent growth due to their decent orderbook. Also profitability for the company will depend on overseas operations turnaround, mix of products and projects. Also watch out for Tata Power and Unitech that will report first quarter numbers today.
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Aug 05, 2013, 09.50 AM IST
Sensex flat; BHEL tanks 10%, Coal India at record-low
The market has opened on a tepid note.
The Sensex is up 17.90 points at 19181.92 while the Nifty is up 4.50
points at 5682.40. About 216 shares have advanced, 96 shares declined,
and 25 shares are unchanged.
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9:25 am Record low: Shares in Coal India fell more than 2 percent to a record low of Rs 248 on poor April-June qaurter earnings . With such a downfall, the stock price is almost nearing its IPO price which was fixd at Rs 245 per share.
Its first quarter net profit falling higher-than-expected 16.5 percent year-on-year to Rs 3,731 crore, led by lower realisation from E-auctin sales.
Chairman and managing director, S Narsing Rao, in a press conference, said realisations from e-auction slipped significantly to Rs 2,140 per tonne in April-June quarter as against Rs 2,561/tonne Y-o-Y.
Net sales declined marginally to Rs 16,472 crore in April-June quarter from Rs 16,500.6 crore in a year ago period, which too came in lower than forecast.
9:20 am Big crash: State-owned Bharat Heavy Electricals ( BHEL ) shares crashes around 12 percent on the BSE. On Saturday it reported a dismal performance on every parameter as the first quarter standalone net profit halved to Rs 465.4 crore from Rs 920.9 crore in a year ago period, dented by weak power segment performance, despite higher other income.
Net sales dropped 23.7 percent to Rs 6,352.5 crore in April-June quarter from Rs 8,326.2 crore in corresponding quarter of last fiscal.
Earnings before interest, tax, depreciation and amortisation (EBITDA) slipped 74.7 percent on yearly basis to Rs 283 crore and EBITDA margin plunged 890 bps year-on-year to 4.5 percent in the first quarter.
Read what Udayan Mukherjee says about the market
The market has opened on a tepid note. The Sensex is up 17.90 points at 19181.92 while the Nifty is up 4.50 points at 5682.40. About 216 shares have advanced, 96 shares declined, and 25 shares are unchanged.
Meanwhile, economic downslide set to dominate the proceedings as the monsoon session of Parliament begins today. Many ordinances including the food security ordinance will come up for conversion into laws.
The Indian rupee opened at 61.01 per dollar versus 61.01 Friday.
Agam Gupta, Standard Chartered Bank said, "The rupee is expected to open stronger on dollar weakness. However, the rupee will be in a range on domestic demand supply mismatch along with fears of RBI intervention or measures to stem volatility. The range for the day is seen between 60.75 - 61.25/USD."
On the global front, US markets closed modestly higher in thin volume despite a tepid jobs report. While the data was disappointing, it still showed job growth and may also make the Federal Reserve a bit more hesitant about curtailing its bond purchases in September. The CBOE volatility index fell to sub 12 levels.
In Europe, markets closed mixed following weak jobs data from the US.
STOCK TRADING TIPS
Asian shares were soft in early trade as the US dollar was on the defensive after data showed US employers slowed their pace of hiring in July, while the NZ dollar dropped after a food-safety scare affected exports of the country's largest company, reported Reuters.
Hong Kong's Hang Seng rose 0.22% or 48.93 points at 22,239.90.
Japan's Nikkei shed 1.37% or 98.18 points at 14,267.98. Singapore's Straits Times was down 0.36% or 11.56 points at 3,242.57.
In the currency space, the dollar remains on the backfoot. The euro is still above 1.32. The dollar index is at 82 mark. The dollar yen is around 98.
Brent crude slips to USD 108 on demand growth concerns. Nymex too slips to sub USD 107. Gold hovers around USD 1310 an ounce.
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Aug 05, 2013, 09.10 AM IST
Rupee opens flat at 61.01 per dollar
The Indian rupee opened at 61.01 per
dollar versus 61.01 Friday. According to Agam Gupta, Standard Chartered
Bank, the rupee is expected to open stronger on dollar weakness.
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Agam Gupta, Standard Chartered Bank said, "The rupee is expected to open stronger on dollar weakness. However, the rupee will be in a range on domestic demand supply mismatch along with fears of RBI intervention or measures to stem volatility. The range for the day is seen between 60.75 - 61.25/USD."
The dollar remained on the backfoot following weak US jobs data. The euro was still above 1.32. The dollar index was at 82 mark and the dollar yen was around 98.
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Aug 02, 2013, 09.40 AM IST
Why markets are getting comfortable with higher rates
The bulls got some ammunition as July
manufacturing report for the US came in stronger than expected, with
strong showings for new orders, as well as employment.
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Today, the bulls got some ammunition as July manufacturing report for the US came in stronger than expected, with strong showings for new orders, as well as employment.
It wasn't just in the US: manufacturing reports in Europe and China were also a bit better than expected.
The major indices reacting by moving to historic highs...that's a bit of a surprise considering interest rates (yields on 10-year Treasury bonds) have moved up as well. In the past, higher rates have rattled stocks.
But maybe that's changing.
Have you noticed the pattern this week:
• ADP stronger than expected: rates higher, markets up
• ISM stronger than expected: rates higher, markets up
• Jobs report: ?
STOCK TIPS
That's the big question: How will the markets react if the jobs report comes in a little stronger than expected, say, over 200,000 jobs created.
If that happens, and rates go up while the stock market goes up or even stays even, that will be a sure sign the trading community is getting comfortable with higher rates.
Exxon Mobil: here's the problem in a nutshell...Exxon's big miss this morning took everyone by surprise. A lot of people shrugged it off, arguing that misses because of refinery shutdowns (they are typical in the summer) are nothing new.
But it's worse than that. The entire report was "a clunker" as one prominent oil analyst called it, missing on all sorts of metrics, including gas production.
But it's worse than even that. Here's the problem: big oil can't grow. They can't get enough oil to replace what is being used. Exxon, for example, produces about four million barrels a day (nearly five percent of the world's output), but that's declining about six percent a year, or a loss of 240,000 barrels.
Think about that. Just to stand still, they have to grow at least six percent. You know how hard that is? A decent well will throw off maybe 500 barrels a day (1,000 is a gusher), and then typically declines 30 percent in the following year. You have to find a lot of wells to replace 240,000 barrels a day!
Then there's geography. It's true the US has found new sources, particularly for natural gas, but don't kid yourself. Much of the world's oil is in politically difficult areas. The top five producers remain Saudi Arabia, Iran, Iraq, Nigeria, and Venezuela, as well as Russia.
Throw in higher taxes from everyone, you have a real problem: 1) no growth, 2) no growth in returns.
What to do? The obvious answer is to increase buybacks, but buybacks for Exxon have been shrinking. The other choice is to increase dividends. Exxon now pays a 2.7 percent dividend, well above the 1.7 percent the S&P 500 pays, after raising it 11 percent in April. But there have been calls for an even higher dividend. I wouldn't be surprised if they accommodated.
Aug 02, 2013, 09.15 AM IST
S&P 500 above 1700; Asia rises, oil at $ 109/bbl
US markets closed at record highs
propelling the S&P 500 above the 1,700 mark for the first time, as
Wall Street cheered a round of upbeat economic data and ahead of the
widely-watched government jobs report.
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Hong Kong's Hang Seng added 0.47 percent or 104.50 points at 22,193.29. Japan's Nikkei gained 1.80 percent or 251.80 points at 14,257.57. Singapore's Straits Times was up 0.35 percent or 11.49 points at 3,254.78. South Korea's Seoul Composite advanced 0.60 percent or 11.43 points at 1,932.17.
Taiwan's Taiwan Weighted was up 0.87 percent or 69.86 points at 8,126.08.
In US, markets closed at record highs propelling the S&P 500 above the 1,700 mark for the first time, as Wall Street cheered a round of upbeat economic data and ahead of the widely-watched government jobs report. So far this year, the Dow and S&P 500 have spiked more than 19 percent, while the Nasdaq has surged an impressive 21 percent. The CBOE volatility index slid below 13.
In Europe, major indices closed with over 1 percent gains reacting to strong US and European data as well as rate decisions from the European Central Bank and the Bank Of England. In data from Europe, Euro Zone manufacturing activity grew for the first time in two years in July.
MCX, NCDEX TIPS
The European Central Bank has decided to leave key interest rates unchanged
Asset class
In the currency space, the euro dollar is steady above 1.32 to the dollar. The dollar index is sub 82.50 levels. The dollar yen is at around 99.
In commodities, crude prices surge. Brent Crude rises to USD 109 a barrel. Nymex crude too rose 2 percent to USD 108.
From the precious metals space, gold slips towards USD 1300 an ounce.
Aug 01, 2013, 09.46 AM IST
NSE suspends trading in 1-day forward contracts
NSEL plans to merge all contracts and
settlement of these contracts after 15 days, except E-series. For the
next 15 days there will not be any trading in contracts except for the
E-series.
National Stock Exchange (NSEL) in a
press release said it has suspended trading in one day foward contracts
in all securities except E-series which primarily deals with gold, silver and platinum contracts, reports CNBC-TV18's Sajeet ManghatAlso Read: No more contracts to be issued over 10-day settlement: NSEL
The bourse plans to merge all contracts and settlement of these contracts after 15 days. For the next 15 days there will not be any trading in contracts except for the E-series. The positions outstanding in these contracts will be settled by way of delivery or cash payment after expiry of 15 days. The exchange will subsequently come out with the date when the settlement is going to happen.
The action taken by NSEL basically translates to almost all volumes or turnover of the exchange coming to a standstill or near zero. E-series contracts do not have much volumes on the exchange. It is hardly Rs 3-4 crore and the turnover of the exchange has anyways fallen from roughly around Rs 800-900 crore a day to nearly Rs 300 crore because of the actions taken by the Ministry of Consumer Affairs.
FREE SHARE TIPS
The Ministry of Consumer Affairs has come up with an order asking NSEL not to show any further contracts which violate the Forward Contracts Regulation Act (FCRA). As a result of which NSEL was supposed to give an undertaking to the Forward Markets Commission (FMC) on the same and that has led to a fall in volumes.
Many of these contracts which NSEL was issuing had deliveries or settlement after 11 days and that was the issue which was a big problem with NSEL and because of that norm all contracts which had settled intraday will have to be settled within 11 days.
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Aug 01, 2013, 09.35 AM IST
BSE Sensex strong; rupee at 60.62/USD, GAIL & HDFC gainers
The market has opened in the positive
terrain led by short covering. The Sensex is up 128.76 points at
19474.46, and the Nifty adds 34.90 points at 5776.90. About 217 shares
have advanced, 53 shares declined, and 24 shares are unchanged.
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The external funding environment has also become challenging causing RBI to tighten liquidity, the investment bank said in a note.
Goldman Sachs also expects corporate earnings to grow at 5 percent for the current fiscal year and 11 percent for the next year, below consensus estimates.
Read what Udayan Mukherjee says about the market
The market has opened in the positive terrain led by short covering. The Sensex is up 128.76 points at 19474.46, and the Nifty adds 34.90 points at 5776.90. About 217 shares have advanced, 53 shares declined, and 24 shares are unchanged.
RBI will auction 7-day cash management bills worth Rs 3,000 crore today. RBI says cash management bills auction is based on multiple price method.
The Indian rupee opened at 60.78 per dollar versus 60.40 yesterday.
Mohan Shenoi, Kotak Mahindra Bank said, "Expectations of a liberalized FDI policy, PSUs raising funds in overseas markets, rise in import duty of luxury items and export promotion measures will have a soothing impact on the rupee. The range for the day is seen between 60.20-60.80/USD."
Meanwhile, July auto sales data are due today. Retail sales could see a decline for all segments especially 2-wheelers led by fuel price hike, high rates and weak economic sentiment. Car volumes are seen declining by 4-5 percent year on year.
BSE STOCK TIPS
The FOMC meet is a non-event for the market as the Federal Reserve said it will maintain its bond-buying policy in its ongoing effort to bolster the economy.
In the currency space, the euro holds above 1.32 to the dollar. The dollar index is around 81.60 levels. The dollar yen is at 98
Brent crude hovers around USD 107. Nymex rises to USD 105 levels. Gold continues to trade around USD 1330 an ounce.
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Jul 31, 2013, 10.00 AM IST
RBI likely intervened as rupee neared record low: Dealers
RBI likely sold dollars from 61.17
levels, they said. The rupee was last at 61.12/13, not far from the life
low of 61.21 seen on July 8.
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RBI likely sold dollars from 61.17 levels, they said. The rupee was last at 61.12/13, not far from the life low of 61.21 seen on July 8.
NSE BSE FREE TIPS
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Jul 31, 2013, 09.30AM IST
Nifty may decline to 5700-5650: Nirmal Bang
One should maintain a sell on rise approach and expect further declines to 5700 and 5650 levels, says Nirmal Bang.
Nifty has observed a sharp decline from its recent highs and has tested
the rising window pattern which will act as cushion on the downside. The
index faces crucial hurdles at 5810 levels on the upside, expect
selling pressure to continue at higher levels. One should maintain a sell on rise approach and expect further declines to 5700 and 5650 levels.NIFTY FREE TIPS
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Jul 30, 2013, 09.45 AM IST
Indian bond yields rise; RBI says rupee to remain priority
The RBI, which has taken a series of
measures to support the battered rupee, said on Monday it will continue
to manage money market liquidity in order to balance financial
stability, growth and inflation.
 |
Also Read: Rupee musing to rule RBI's monetary policy: Experts
The RBI, which has taken a series of measures to support the battered rupee, said on Monday it will continue to manage money market liquidity in order to balance financial stability, growth and inflation.NSE BSE TIPS
The RBI is likely to leave policy interest rates unchanged later on Tuesday.
The benchmark 10-year bond yield rose 6 basis points to 8.19 percent from its previous close as of 9:07 am IST.
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Jul 30, 2013, 09.31 AM IST
Nifty may decline to 5750: Nirmal Bang
According to Nirmal Bang, Nifty faces
crucial hurdles at 5,880 and 5,900 levels on the upside and expects
further declines to 5,750 levels.
Nifty declined below the crucial levels of 5,880 and has closed below
it. The index faces crucial hurdles at 5,880 and 5,900 levels on the
upside, expect selling pressure to continue at higher levels. One should
maintain a sell on rise approach and expect further declines to 5,750
levels.NIFTY FREE TIPS
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Jul 26, 2013, 10.05AM IST
BSE Sensex flat; Biocon up 4%, HUL falls 4% ahead of Q1 nos
The market has opened August series on a
stable note. The Sensex is up 96.00 points at 19900.76 while the Nifty
is up 30.45 points or 0.52% at 5937.95. About 208 shares have advanced,
61 shares declined, and 19 shares are unchanged.
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Prasad was also disappointed with the entire Ambuja-Holcim restructuring and found the synergy talks baloney. These types of transactions should not go through and Sebi or some other authority must raise a stink.
9:35 am Movers and losers: Sun Pharma , Strelite Industries, Jindal Steel , L&T and ONGC are top gainers in the Sensex. Besides HUL, other losers in the Sensex include ITC , Maruti Suzuki, Coal India and Wipro .
9:30 am Weakling: HUL is down another 4 percent on the BSE ahead of announcing its April-June quarter earnings. A CNBC-TV18 poll sees its total income rising over 10 percent. While the reported profit after tax is seen down 35 percent at Rs 860 crore. Q1 will see the full impact of royalty increase, lower other income from treasury and a higher tax rate.
NSE BSE TRADING TIPS
Margins are seen flat at 15.2 percent. The stock already took a beating on Thursday after Unilever's numbers were out and the parent company said that growth is slowing in emerging markets.
9:25 am Market outlook: Based on valuations, banks may be heading towards a bottom and hence, a little bounce can be expected, says professional investor Sangeeta Purushottam . So investing in beaten down banking stocks, from a long term perspective, makes sense.
When very large correction happens in banks, like in case of Yes Bank , it is advisable to wait till the dirt is settled.
Talking about IT pocket, she said expectations from Wipro are muted. HCL Tech and TCS are alright to hold because of lack of safety in other IT stocks.
9:20 am Leader: Biocon surges 4.4 percent on the back of April-June quarter earnings.
Read what Udayan Mukherjee says about the market
The market has opened August series on a stable note. The Sensex is up 96.00 points at 19900.76 while the Nifty is up 30.45 points or 0.52% at 5937.95. About 208 shares have advanced, 61 shares declined, and 19 shares are unchanged.
The Indian rupee opened with a gain of 30 paise at 58.81 per dollar against 59.11 Thursday. Pramit Brahmbhatt, Alpari India said, "The rupee is likely to trade strong owing to the liquidity squeeze post the RBI measures and a weak dollar. However, a weak equity market and high dollar demand by oil importers may cap rupee gains. The range for the day is seen between 58.70-59.50/USD."
Meanwhile, Japan's Nikkei share average fell to a two-week low on Friday morning, as selling accelerated on the back of a firmer yen and disappointing quarterly earnings from the likes of Canon Inc and Advantest Corp.
The Nikkei fell 1.9 percent to 14,288.92 in mid-morning trade after slipping to a low of 14,236.46 earlier, the lowest level since July 9.
US markets eked out gains in a choppy session as investors digested the latest round of corporate earnings. Among earnings, Facebook surged nearly 30 percent after the social-networking giant posted stellar quarterly results and nearly 20 brokerages raised their price targets on the stock. The stock traded at its best level since last may and is about 10 percent from hitting its IPO price of USD 38.
The US 10-year treasury yields remained soft in trade.
Brent crude was hovering around 107 dollars a barrel. Nymex stood at USD 105. From precious metals space, gold was trading above USD 1330 an ounce.
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Jul 26, 2013, 09.10 AM IST
Rupee gains 30 paise in opening trade at 58.81/USD
The Indian rupee opened with a gain of 30 paise at 58.81 per dollar against 59.11 Thursday.
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Pramit Brahmbhatt, Alpari India said, "The rupee is likely to trade strong owing to the liquidity squeeze post the RBI measures and a weak dollar. However, a weak equity market and high dollar demand by oil importers may cap rupee gains. The range for the day is seen between 58.70-59.50/USD." STOCK
The euro rose to 1.32 to the dollar. The dollar index slipped to sub 82 levels ahead of next week's Federal Reserve policy meeting, meanwhile the yen strengthens versus the dollar.
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Jul 25, 2013, 09.48 AM IST
Rupee opens at 59.29 per dollar
The Indian rupee opened at 59.29 per
dollar versus 59.12 yesterday. "RBI measures of raising short-term
interest rates appear to be aimed at stabilising the rupee around 60/USD
and not towards significant appreciation, says Mohan Shenoi, Kotak
Mahindra Bank.
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Mohan Shenoi, Kotak Mahindra Bank said, "RBI measures of raising short-term interest rates appear to be aimed at stabilising the rupee around 60/USD and not towards significant appreciation. This is to buy time until some major capital inflows are received or some more measures to curb imports are announced. The range for the day is seen between 58.90-59.35/USD."
NSE TIPS
The euro was at sub 1.32 to the dollar. The dollar index rose marginally to 82.30 levels. The dollar yen was at 100 mark.
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Jul 25, 2013, 09.10 AM IST
US markets close lower; Asia slips, oil falls to $ 106/bbl
Asian markets were trading lower.
China's Shanghai Composite was down 0.25 percent or 5.06 points at
2,028.27. In commodities, crude prices slip. Brent crude slips over a
percent to 106 dollars on the back of weak Chinese economic data.
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The Dow Jones industrial average slipped 25.50 points, or 0.16 percent, to end at 15,542.24 - a day after closing at a record 15,567.74. The Standard & Poor's 500 Index fell 6.45 points, or 0.38 percent, to finish at 1,685.94.
On earnings front, Apple jumped to lead the Nasdaq 100 gainers after the tech giant reported quarterly results that topped consensus the company also announced that iPhone sales grew more than expected, helping to offset weak iPad sales. However, the company handed in current-quarter sales guidance that was below expectations. The CBOE volatility index ended above 13.
New home sales jumped 8.3 percent in June to a seasonally adjusted annual rate of 497,000 units, the highest level since May 2008. Conditions in the manufacturing sector ticked higher in July to 53.2, hitting a four-month high, according to a report from financial data from Markit.
In Europe, major indices close higher after flash purchasing managers' index data for the euro zone came in better than expected, allowing shares to climb to an eight-week closing high.
Asian markets were trading lower. China's Shanghai Composite was down 0.25 percent or 5.06 points at 2,028.27.
MCX FREE TIPS
Hong Kong's Hang Seng shed 0.36 percent or 78.14 points at 21,890.79. Japan's Nikkei fell 0.51 percent or 74.58 points at 14,656.70.
Asset class
In the currency space, the euro is at sub 1.32 to the dollar. The dollar index rises marginally to 82.30 levels. The dollar yen is at 100 mark.
In commodities, crude prices slip. Brent crude slips over a percent to 106 dollars on the back of weak Chinese economic data.
From precious metals space, gold eases slightly to USD 1320 an ounce on better than expected data from US.
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Jul 24, 2013, 09.55 AM IST
Banking stocks fall after RBI moves to tighten liquidity
The RBI on Tuesday lowered the overall
limit for borrowing under the daily liquidity adjustment facility (LAF),
which offers funds in exchange for collateral, for each bank to 0.5
percent of deposits from 1 percent
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Yes Bank
Also Read: RBI tightens daily borrowing norms to douse rupee fire
The RBI on Tuesday lowered the overall limit for borrowing under the daily liquidity adjustment facility (LAF), which offers funds in exchange for collateral, for each bank to 0.5 percent of deposits from 1 percent.FREE TIPS
The NSE banking index was down 3.25 percent.
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Jul 24, 2013, 09.51 AM IST
Nifty may face resistence at 6120-6150: Emkay
According to Emkay Equity Advisory
Nifty may face resistence at 6120/6150 and a close above this level will
further extend the rally up to 6200/6220 levels.
Market ended in green on account of positive global cues. The 5 DMA at
6030 will act as a strong support for Nifty. Resistance for Nifty
is seen at 6120/6150 and a close above this level will further extend
the rally up to 6200/6220 levels. First sign of weakness can be seen
only if Nifty closes below 5900 until then every dip can be considered
as a good buying opportunity.STOCK NIFTY TIPSDisclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Jul 23, 2013, 09.50 AM IST
Government denies ruling out sovereign bond sale
Reuters reported earlier that the
government had dismissed for now the idea of a global sovereign bond,
citing unidentified senior government officials.
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Reuters reported earlier that the government had dismissed for now the idea of a global sovereign bond, citing unidentified senior government officials.
"Some of the news channels/news wires have been misreporting that the Government of India is no longer contemplating a Sovereign Bond Issue. These reports are without any basis," said the government statement.
FREE TRAILS TIPS
"As the Ministry of Finance has said repeatedly, all options are on the table and are examined from time to time. Steps are taken by the government at the appropriate time. Such misreporting creates unnecessary speculation," it added.
Policy makers have been under pressure to act to revive a struggling currency and fund a record current account deficit.
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Jul 23, 2013, 09.10 AM IST
Global mkts gain; Euro holds 1.31/$; gold above $ 1333/oz
Asian markets were trading higher.
China's Shanghai Composite rose 1.50 percent or 30.12 points at
2,034.88. Hong kong's Hang Seng advanced 1.72 percent or 368.88 points
at 21,785.38.
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The Dow Jones Industrial Average was up 1.81 points, or 0.01 percent, to close at 15,545.55. The Standard & Poor's 500 Index rose 3.44 points, or 0.20 percent, to end at 1,695.53, and the Nasdaq Composite Index added 12.77 points, or 0.36 percent, at 3,600.39.
In Europe, major indices pared early gains to close flat. A series of earnings releases boosted stocks in Europe, particularly in the banking sector. Shares of UBS closed 2.50 percent higher in heavy trade, after it posted a net profit for the second quarter that beat market expectations.
In Asia, government comments reiterated Beijing's commitment to supporting the export and service industry is aiding sentiment. Japanese stocks erased earlier losses to rise above 14,700. Strength in the Japanese yen propped up South Korean exporter.
STOCK TIPS
Asian markets were trading higher. China's Shanghai Composite rose 1.50 percent or 30.12 points at 2,034.88. Hong kong's Hang Seng advanced 1.72 percent or 368.88 points at 21,785.38.
Japan's Nikkei was up 0.93 percent or 136.62 points at 14,794.66. Singapore's Straits Times was up 0.26 percent or 8.26 points at 3,242.61.
Other asset class
In the currency space- the euro is steady above 1.31 to the dollar. The dollar index is at 82.20 levels. Meanwhile dollar-yen is around 99 levels.
Gold prices surged to its highest level in nearly a year, currently at above USD 1333 an ounce. Brent crude hovers at around USD 108 per barrel, and Nymex crude slips to sub USD 107 per barrel on profit taking.
Jul 22, 2013, 09.30 AM IST
Gold rises to 1-month high on weaker US dollar
Gold hit a high of USD 1,314.49 an ounce, its highest since June 20, and stood at USD 1,312.24 by 0024 GMT, up USD 16.50
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Gold hit a high of USD 1,314.49 an ounce, its highest since June 20, and stood at USD 1,312.24 by 0024 GMT, up USD 16.50. Gold last week posted its second weekly gain after the Federal Reserve's assurance the timing of any tapering in economic stimulus is not set in stone.
Also Read: China's first gold ETFs raise $261 mn, below expectations
US gold rose 1.49 percent to USD 1,312.10 an ounce. The most active June 2014 gold contract on Tokyo Commodity Exchange rose as high as 4,243 yen a gramme, its highest since June 20, because of a weaker yen.
Hedge funds and money managers raised their bullish bets in gold and silver futures and options in the week to July 16, while they trimmed net shorts in copper, a report by the Commodity Futures Trading Commission showed on Friday.
MCX NCDEX TIPS
China's central bank removed controls on bank lending rates, effective Saturday, in a long-awaited move that signals the new leadership's determination to carry out market-oriented reforms.
SPDR Gold Trust GLD, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.29 percent to 932.46 tonnes on Friday from 935.17 tonnes on Thursday.
www.Shristocktips.com
Jul 22, 2013, 10.15 AM IST
Nifty flat; Wockhardt crashes 10%, BHEL falls 4%
The Sensex is down 9.63 points at
20140.22 while the Nifty slips 4.20 points at 6025.00. BHEL and Reliance
Industries are dragging the indices.
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Total income from operations are likely to increase by 11.1 percent to Rs 2,831 crore in April-June quarter from Rs 2,548 crore reported in a year ago period.NSE BSE TIPS
9:50 am Expert views: Calling Indian fundamental problems as 'self-evident', Sandeep Bhatia, executive director and head of sales, Kotak Equities says solutions for the country's issues too, are obvious. However, the same isn't the case for other emerging markets (EMs), says Bhatia in an interview to CNBC-TV18.
Bhatia says the obstacles in other EMs are only the tip of the iceberg, which is not the case with Indian fundamentals, which are improving.
Meanwhile, Bhatia is bullish and betting big on Idea Cellular . He says the stock could rally to Rs 180. Additionally, Bhatia expects the rupee to trade at the current levels and advises investors to stay away from HUL .
9:45 am Precious metals update: Gold jumped more than 1 percent to its highest level in a month on Monday as the US dollar slipped against other currencies, with gains in Japanese bullion futures adding extra support, reports Reuters.
Gold hit a high of USD 1,314.49 an ounce, its highest since June 20, and stood at USD 1,312.24 by 0024 GMT, up USD 16.50. Gold last week posted its second weekly gain after the Federal Reserve's assurance the timing of any tapering in economic stimulus is not set in stone.
9:40 am Big fall: Wockhardt sinks around 10 percent on the BSE as the pharma major said it has received a warning letter from US health regulator over its facility at Waluj in Maharashtra not meeting manufacturing norms.
The company had earlier in May announced that the US Food and Drug Administration (USFDA) had issued an import alert on its Waluj facility, which makes injectables and solid dosages.
9:35 am Houseviews: Credit Suisse has downgraded Ambuja Cement to neutral with a target price of Rs 205 per share. The stock is down around 3 percent on the BSE.
9:30 am Buzzing: Texmaco surges around 5 percent as the Saroj Poddar's company has finally launched the open offer for Kalindee Rail (up 1.6 percent). Texmaco rail board has approved the acquisition of 19.37 lakh shares or 15.63 percent of Kalindee rail promoters. Texmaco will buy Kalindee rail promoters' stake at Rs 65 a share. They would make open offer for up to 49.52 lakh shares or 30 percent of Kalindee.
9:25 am Laggards: BHEL (down 3 percent) is the biggest loser in the Sensex as investors are concerned over weak order flows. On Friday, the stock tanked around 9 percent eroding market value of the company by Rs 3,708 crore to Rs 42,527 crore.
Reliance Industries is weak too (down around 2 percent) on the back of April-June quarter earnings . On Friday after market hours, the company announced a 19 percent year-on-year rise in June quarter profit to Rs 5352 crore, boosted by stronger margins in its main oil refining business and higher other income.
Sales have, however, declined to Rs 87645 crore, down 4.5 percent Y-o-Y on lower output from KG-D6 basin which has recorded a 50 percent decline to around 15 million standard cubic metres per day.
Read what Udayan Mukherjee says about the market
The market has kickstarted the day on a quite note as key corporate earnings remain in focus today. The Sensex is down 9.63 points at 20140.22 while the Nifty slips 4.20 points at 6025.00. About 366 shares have advanced, 251 shares declined, and 38 shares are unchanged.
In earnings to watch out today, L&T will announce April-June numbers today. According to a CNBC-TV18 poll, revenues may see 14 percent growth to Rs 13,643 crore. Profits too may surge 15 percent. Also watch out for margins, it may barely touch double digits. Asian paints too will declare earnings today.
The EGoM on gas allocation will meet again to find a solutions for the gas starved power plants. It will explore if extra gas can be given to power companies.
The Indian rupee opened on flat note at 59.29 per dollar versus 59.35 Friday.
Agam Gupta, Standard Chartered Bank said, "The rupee is likely to be flat on dollar weakness and heavy intervention by RBI on Friday, which indicated that any level close to 60/USD is not acceptable. The range for the day is seen between 59.10-59.50/USD."
US Vice President Joe Biden will land in India today for a 4-day visit. Sources say that the visit is to lay the ground work for Obama's visit to India later this year. Biden will meet Prime Minister Manmohan Singh and opposition leader Sushma Swaraj. The buzz is that the anti outsourcing bill will be diluted.
In the currency space, the euro rises to 1.31 to the dollar. The dollar index is below 82.50 mark. The dollar-yen is around 99. In ommodities, Brent crude trades above USD 108 a barrel. Nymex too is hovering around USD 108 a barrel. From precious metals space, gold rises to a one-month high amid US stimulus hopes, above USD 1310 an ounce.
www.Shristocktips.com
Jul 19, 2013, 09.16 AM IST
Resistance for Nifty at around 6080-6100: Dolat Capital
According to Dolat Capital derivative report, Nifty has strong resistance at around 6080-6100.
Short covering in banks helped the Index to continue its upside move. Longs were added in Pharma. Nifty
PCR has risen to 1.55 from 1.43. Nifty PCR is nearing to its overbought
zone. Thus, one should avoid taking aggressive long position. Nifty
options data is suggesting resistance at around 6080-6100.NIFTY STOCK TIPS
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
www.Shristocktips.com
Jul 19, 2013, 09.08 AM IST
Rupee opens flat at 59.71 per dollar
On Friday the Indian rupee opened flat
at 59.71 per dollar versus 59.67 Thursday. According to Pramit
Brahmbhatt, Alpari India, the rupee will continue to trade weak due to a
stronger dollar and high dollar demand from internal importers.
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Pramit Brahmbhatt, Alpari India said, "The rupee will continue to trade weak due to a stronger dollar and high dollar demand from internal importers. The rupee has started discounting the RBI measures and is now reacting to FII pullout and other global factors. However, a strong equity market will cap the downfall. The range for the day is seen between 59.32-60.22/USD."
The euro slipped to sub 1.31 to the dollar. The dollar index was around 82.90 mark. The dollar-yen was above 100.
www.Shristocktips.com
Jul 18, 2013, 09.50 AM IST
Support for Nifty at 5904-5879: Angel Broking
According to Angel Broking's technical report, Nifty has strong support at 5904-5879 on the flipside.
Yesterday's price action can be perfectly described as a 'Tugof-War'
between the bulls and the bears. Indices recovered smartly after posting
a low of 19778 / 5927. Going forward, we continue to mention the
trading range of 20073 / 6038 to 19640 / 5904. Yesterday's high of 19983
/ 5990 would act as an immediate intraday resistance for our market. For any higher targets, indices need to break recent high of 20063/ 6038 which would push indices towards the near term target of 20200 / 6088. On the flipside, 19640-19505/5904-5879 remains to be a strong support band for our market. A fall below these levels would mean that all long positions should be squared off as further lower levels may be eventually tested. We reiterate that traders should stick to individual stocks movement and avoid taking undue risks.
NIFTY TIPS
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Jul 18, 2013, 09.32 AM IST
Rupee opens lower at 59.60 per dollar
On Thursday the Indian rupee opened
lower by 26 paise at 59.60 per dollar against 59.34 Wednesday. According
Agam Gupta, Standard Chartered Bank, Ben Bernake's speech was slightly
more dovish than the market expected. It will keep the rupee stable and
also check the dollar from strengthening further."
 |
Agam Gupta, Standard Chartered Bank said, "Federal Reserve Chairman Ben Bernanke's speech was slightly more dovish than the market expected. It will keep the rupee stable and also check the dollar from strengthening further. The market will continue to focus on the impact of recent RBI moves and watch out for any further measures. The range for the day is seen between 59.15-59.55/USD."
Also Read - Bernanke: Fed to begin tapering bond buying later this year
The euro holds above 1.31 to the dollar. The dollar index was below the 83 mark, but steady as Federal Reserve Chairman Ben Bernanke still left intact the prospect of the Fed scaling back stimulus later this year.
www.Shristocktips.com
Jul 17, 2013, 10.00 AM IST
Sensex strong; Idea, Rel Comm up 3% on FDI nod in telecom
The market has made a stable start
boosted by government’s FDI reforms. The Sensex opens up 68.24 points at
19919.47, and the Nifty is up 17.00 points at 5972.25.
 |
9:39 am Market check: The Sensex is up 85.70 points at 19936.93, and the Nifty is up 22.00 points at 5977.25. About 630 shares have advanced, 303 shares declined, and 38 shares are unchanged.
9:35 am Buzzing: JSW Steel shares fell 1.5 percent in early trade Wednesday to touch a 18-month low of Rs 562.30 after CLSA downgraded the stock to sell from underperform and set target price at Rs 525 apiece.
The foreign brokerage house has cut earnings per share forecast by 25-34 percent for FY14-15.
9:30 am Bond market update: India's fixed income association said there would be no trading bands for government bonds and other securities on Wednesday, a second day in a row after the Reserve Bank of India (RBI) announced measures to curb the rupee's slide and sent bond yields surging, reports Reuters.
A key measure coming into effect from Wednesday is the total funds available under the RBI's repo window will be capped at 1 percent of banks' deposits.
9:25 am Movers and gainers: M&M, Dr Reddys' Labs, Bharti Airtel , NTPC and Hero Motocorp are top gainers in the Sensex. Meanwhile, Tata Motors, HDFC Bank , SBI, Coal India and ICICI Bank are major losers.
Don't miss what Udayan Mukherjee says about the market.
The market has made a stable start boosted by government’s FDI reforms. The Sensex opens up 68.24 points at 19919.47, and the Nifty is up 17.00 points at 5972.25. About 209 shares have advanced, 68 shares declined, and 21 shares are unchanged.
Telecom stocks like Bharti Airtel and Idea Cellular are in focus today as the government has relaxed FDI reforms in 13 sectors including 100 percent in telecom and higher caps in insurance and defence sectors. Defence production FDI is likely to be hiked with riders and there has been no change in FDI cap for civil aviation sector.
In earnings action, HDFC Bank will announce April-June quarter earnings today. According to a CNBC-TV18 poll, a steady set of numbers is expected with net interest income seen 24 percent higher at Rs 4332 crore while profits may come in 30 percent higher.
The Indian rupee opened higher by 26 paise at 59.05 per dollar versus 59.31 Tuesday.
NSE BSE TRADING TIPS
Pramit Brahmbhatt, Alpari said, "The rupee might see some more consolidation today owing to measures induced by RBI to squeeze liquidity and curb volatility. A weak dollar could also help the rupee. However, high dollar demand by importers and weak fundamentals will check rupee appreciation. The range for the day is seen between 58.80-59.68/USD."
On the global markets front, Asian markets were trading weak. China's Shanghai Composite was down 0.47 percent or 9.72 points at 2,056. Hong Kong's Hang Seng was up 0.26 percent or 54.89 points at 21,367.27.
Japan's Nikkei fell 0.94 percent or 137.68 points at 14,461.44.
The dollar eased and US stocks fell on Tuesday, snapping an eight-day advance by the benchmark S&P 500 index, as investors took a cautious stance ahead of the Federal Reserve chief's testimony to a US congressional panel on Wednesday.
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Jul 17, 2013, 09.55 AM IST
Nifty has resistance at 5970: Nirmal Bang
According to Nirmal Bang's technical
report Nifty has an immediate resistance at 5,970 levels on the upside
and on a decisive close above, expect rise to 6,020 and 6,040 levels.
Nifty has managed to close above the recent hurdles of 5,950 which is a
bullish signal. The index has strong support at 5,920 levels on the
downside. There is an immediate resistance at 5,970 levels on the upside
and on a decisive close above, expect rise to 6,020 and 6,040 levels.The Bank Nifty has closed below the important support of 11300 levels and expect declines to the 11,200 and 11,100 levels. There is a strong resistance at 11,380 and 11,400 levels.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified expertsNSE TIPS before taking any investment decisions.
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Jul 16, 2013, 09.27 AM IST
BSE Sensex falls 300 pts; rupee at 59.3/USD on RBI measures
The market has collapsed in the opening
trade weakened by rate sensitive stocks. The Sensex opens 331.73
points down at 19702.7 while the Nifty slips 108.00 points to 5922.80.
 |
The RBI's steps to curb the rupee volatility has not been taken well by the market. The central bank has enhanced marginal standing facility rate to 10.25 percent, 300 basis points above the policy repo rate. It will supply only Rs 75,000 crore in the repo window. In addition, it will conduct open market sales of bonds worth Rs 12,000 crore on July 18.NIFTY TIPS
The Indian rupee gained 70 paise in early trade Tuesday to 59.19 per dollar as against previous day's closing value of 59.89 after the Reserve Bank of India (RBI) took measures to curb volatility in the exchange rate.
NS Venkatesh of IDBI Bank feels the measures taken by RBI will help stabilise rupee volatility in the near-term. "The increase in cost of liquidity will minimise speculatory positions, which will help reduce the weakness further," he adds.
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Jul 16, 2013, 09.24 AM IST
History shows gold could fall another $500/oz
A slowdown in growth in China, as
evidenced in data released on Monday which showed that growth had slowed
to 7.5 percent, was one potential indicator of lower gold demand.
|
Harvey, who works at Duke University's Fuqua School of Business, said that over 2,500 years of history, the real price of gold (the nominal price adjusted for inflation) had remained roughly the same.
"Right now we're way above the mean," Harvey said, suggesting that the price of gold would correct over the long-term to approximately USD 800 an ounce.
"If you look historically, it doesn't just go down to the average and stay there. It actually goes through and falls below, then comes back up," he said.
The price of gold could therefore potentially go even lower than USD 800, he said. "It has been lower in recent history."
MCX, NCDEX TIPS
"It might not be tomorrow," Campbell added, but "the cycles go in 10-15 years, and we're well into one of these cycles."
He said investors mulling the price of gold should focus on demand rather than supply, which he said was "amazingly constant".
A slowdown in growth in China, as evidenced in data released on Monday which showed that growth had slowed to 7.5 percent, was one potential indicator of lower gold demand.
"China is a demander of gold, lower growth there means lower demand," Campbell said.
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Jul 15, 2013, 10.00 AM IST
Rupee down 40 paise against dollar in early trade
Forex dealers said besides dollar gains
against other currencies overseas, disappointing industrial production
and a fall in exports, a higher retail inflation data and a lower
opening in the domestic equity market put pressure on the rupee.
|
Forex dealers said besides dollar gains against other currencies overseas, disappointing industrial production and a fall in exports, a higher retail inflation data and a lower opening in the domestic equity market put pressure on the rupee.
BSE TIPS
The rupee had gained 11 paise to close at two-week high of 59.56 against the US dollar in Friday on fag-end sales of the American currency by exporters amid a strong rally in local equities.
Meanwhile, the BSE benchmark Sensex fell by 54 points, or 0.27 percent, to 19,904.47 in early trade today.
Jul 15, 2013, 09.35 AM IST
Resistance for Nifty at 6020: Nirmal Bang
According to Nirmal Bang's Technical
Report, Nifty has an immediate resistance at 6,020 levels on the upside
and on a decisive close above expect rise to 6,080 and 6,120 levels.
Nifty formed a bullish pattern on the weekly charts which has confirmed a
positive bias. The index last week managed to hold the crucial support
of 5,900 levels and rallied sharply. There is an immediate resistance at
6,020 levels on the upside and on a decisive close above expect rise to
6,080 and 6,120 levels.The Bank Nifty has managed to hold the crucial support of 11,550 levels for couple of trading session and one can expect a short bounce as most of the technical indicators remain in the oversold territory. There is an immediate resistance at 11,750 levels on the upside and on a decisive close above expect rise to 12,150 & 12,300 levels.
STOCK TIPS
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Jul 12, 2013, 09.55 AM IST
F&O cues: Nifty 6000 Put adds 9.5 lakh shares in OI
F&O cues: Nifty 6000 Put added 9.5
lakh shares in open interest (OI) and Nifty 5800 Call shed 6.5 lakh
shares in OI on Thursday.
 |
Nifty 5900 Put adds 17.6 lakh shares in open interest (OI) on Thursday; premium down from 85 to 68
Nifty 6000 Put adds 9.5 lakh shares in OI; premium down from 145 to 115
Nifty 5800 Call sheds 6.5 lakh shares in OI
NIFTY TIPS
Nifty 5900 Call sheds 12.2 lakh shares in OI; premium up from 90 to 104
Nifty 6000 Put sheds 11 lakh shares in OI; premium up from 45 to 54
Nifty 5400 Put sheds 9.4 lakh shares in OI
FIIs in F&O (July 11 - Source: NSE)
FIIs net buy Rs 1,536 crore in index future, OI contracts up by 59,754
FIIs net buy Rs 1,511 crore in index option, OI contracts up by 27,981
FIIs net sell Rs 37 crore in stock futures, OI contracts up by 3,815
FIIs net sell Rs 281 crore in stock options, OI contracts up by 19,623
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Jul 12, 2013, 08.35 AM IST
Gold heads for biggest weekly gain in two years
Federal Reserve Chairman Ben Bernanke
said on Wednesday that the overall message from the central bank was
that a "highly accommodative policy is needed for the foreseeable
future".
 |
Also Read: OPEC says commodity supercycle waning, little upside
Fundamentals
Spot gold had climbed 0.1 percent to USD 1,286.21 an ounce by 0016 GMT. It touched close to USD 1,300 on Thursday, its highest in three weeks.
Bullion has gained 5 percent so far this week, on course for its largest weekly climb since October 2011.
Comex gold and silver were also trading near multi-week highs hit on Thursday.
Federal Reserve Chairman Ben Bernanke said on Wednesday that the overall message from the central bank was that a "highly accommodative policy is needed for the foreseeable future".
Financial markets, which had tumbled after Bernanke said last month that the Fed's USD 85 billion in monthly bond purchases could be scaled back this year, jumped on Thursday with the Dow and S&P 500 indices hitting all-time closing highs.
Gold, still down nearly 25 percent this year, could face further headwinds as some investors jump to rallying stocks, dumping holdings in gold-backed exchange traded funds.
COMMODITY TRADING TIPS
Investors pulled USD 998.8 million from commodities and precious metals funds, up from withdrawals of USD 92.6 million the prior week, data from Thomson Reuters' Lipper service showed on Thursday.
Gold traders in India, the world's biggest buyer of the metal, refrained from fresh purchases as prices climbed to their highest level in more than two weeks.
Market News
The US dollar fell to multi-week lows against the euro and yen on Thursday as traders scaled back expectations the Fed would slow its asset purchases in the coming months.
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Jul 11, 2013, 09.35 AM IST
Nifty has resistance at 5904: Angel Broking
According to a report by Angel Broking,
5904 remains to be an important resistance level for the Nifty. Nifty
may head higher to test 5972, he adds.
Our benchmark indices came off sharply during the
second half to close with more than half a percent loss. In our previous
report, we had mentioned a 'Channel' pattern seen in the hourly chart,
which is still intact. Indices are now trading near the hourly ’89 EMA',
which is considered as a decent support. Hence, a breach of yesterday’s
low (19237 / 5802) would lead to an intraday correction towards the
19147 / 5760.
However, considering slightly broader perspective,
only a sustainable move below 19147 / 5760 would trigger immense
pessimism in our market. On the upside, 19640 / 5904 remains to be an
important resistance level for our market. A close beyond this level
will result in a breakout from a trading range and markets may head
higher to test 19711 / 5972 levels.
Jul 11, 2013, 09.06 AM IST
OPEC says commodity supercycle waning, little upside
OPEC (the Organization of the Petroleum
Exporting Countries) joined a chorus of analysts who have been warning
for several months that the era of high prices for commodities is
ending.
 |
OPEC (the Organization of the Petroleum Exporting Countries) joined a chorus of analysts who have been warning for several months that the era of high prices for commodities is ending.
The group cited a slowdown in emerging economies, in particular China, coupled with decelerating foreign investment in those markets, as an explanation.
"It seems that emerging economies will continue to grow at lower rates than in the past years. China is currently forecast to grow by 7.7 percent this year and next year, considerably lower than its average growth over the past decade," OPEC said. "This should lead to somewhat lower relative demand changes in the future, and while a decline of commodity prices seems unlikely in general, it also points to slower expected price rises in the future.”
COMMODITY TIPS
In addition, healthy inventories for the major commodities will also provide downward pressure on prices, OPEC said. In this month's oil market report, it downgraded its forecast for world oil demand growth to 800,000 barrels per day (bpd), a cut of 12,000 bpd.
Agricultural commodities could however prove an exception to the OPEC's bearish outlook. "While in general, commodity prices should be expected to trade at range-bound levels in the coming months, an exception might be the agricultural sector, where, so far, the lack of weather extremes could lead to a continued decline in prices amid ample supply," OPEC said.
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Jul 10, 2013, 09.31 AM IST
Nifty may rally upto 5871-5883: Angel Broking
According to Angel Broking's market
outlook report, if Nifty trades above 5853 during the first half-an-hour
of trade then we may witness a further rally up to 19,490 – 19,541 /
5,871 – 5,883 levels.
Indian markets are expected to open with a positive bias tracking the positive opening trades in the SGX Nifty and most of the Asian markets.The trend deciding level for the day is 19,435/ 5,853 levels. If Nifty trades above this level during the first half-an-hour of trade then we may witness a further rally up to 19,490 19,541 / 5,871 5,883 levels. However, if Nifty trades below 19,435 / 5,853 levels for the first half-an-hour of trade then it may correct up to 19,384 19,329/ 5,841 5,823 levels.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. NIFTY TRADING TIPSMoneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Jul 10, 2013, 08.45 AM IST
F&O cues: Nifty 6100 Call adds 1 lakh shares in OI
F&O cues: Nifty 6100 Call added 1
lakh shares in Open Interest and 6000 Call added 6 lakh shares in Open
Interest on Tuesday.
 |
Nifty 5800 Put adds 10.1 lakh shares in Open Interest (OI) on July 09; premium down 77 to 67
5900 Put adds 5 lakh shares in OI; premium down 120 to 109
6000 Call adds 6 lakh shares in OI; premium up 36 to 37
6100 Call adds 1 lakh shares in OI; premium up 15 to 15.5
5400 Put sheds 3.5 lakh shares in OI
5600 Put sheds 3.6 lakh shares in OI
FIIs in F&O on July 9
FIIs net buy Rs 339 crore in Index Future, OI contracts up by 13,691
FIIs net buy Rs 660 crore in Index Option, OI contracts down by 63,168
FIIs net sell Rs 371 crore in Stock Futures, OI contracts up by 13,668
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Jul 09, 2013, 09.35 AM IST
Nifty has immediate support at 5780: Nirmal Bang
According to Equity Research Report by
Nirmal Bang, one should maintain a sell on rise approach; the immediate
support for the index is at 5,800-5,780 levels on the downside. Nifty
has an immediate support at 5,780 levels and resistance at 5,900 levels.
According to Equity Research Report by
Nirmal Bang, there is presence of reversal candles near the 5,880-5,900
levels which indicates a strong resistance on the upside. One should
maintain a sell on rise approach; the immediate support for the index is
at 5,800-5,780 levels on the downside. Nifty has an immediate support at 5,780 levels and resistance at 5,900 levels.The Bank Nifty faces immediate resistance around the 11,380-11,420 levels on the upside as it coincides with the falling window pattern. The index has recently made a lower low formation and has an important support of 11,200 levels. Expect selling pressure to continue at higher levels. NIFTY STOCK TIPS
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Jul 09, 2013, 09.20 AM IST
Rupee gains 83 paise vs dollar in early trade
On Tuesday the Indian rupee opened
higher by 83 paise at 59.79 per dollar against 60.62 Monday. "US yields
have softened and brent crude has not rallied overnight. Hence, the
volatility in rupee will be stemmed and it could move in a narrow range,
says Jayesh Mehta, Bank of America.
|
Jayesh Mehta, Bank of America said, "US yields have softened and brent crude has not rallied overnight. Hence, the volatility in rupee will be stemmed and it could move in a narrow range. The range for the day is seen between 60.85-61.25/USD."
The dollar index was off Monday's high but still holding above the 84 mark. The dollar-yen was at 101 levels.
The Reserve Bank of India , in a notification issued late on Monday, banned banks from proprietary trading in domestic currency futures and the exchange-traded options market.
STOCK TIPS
In a separate order, the Securities and Exchange Board of India (SEBI) increased the margin requirement on the domestic dollar-rupee forward trade to 100 percent of the traded amount, which means investors will have to shore up the full amount of the transaction at the time of the trade itself and not during settlement.
SEBI also imposed fresh restrictions on open interest on USD-INR trades.
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Jul 08, 2013, 10.20 AM IST
RBI sells dollars as rupee hits record low: traders
The partially convertible rupee was trading at 61.05/06 per dollar at 9:50 a.m. after earlier hitting a record low of 61.21.
 |
The partially convertible rupee was trading at 61.05/06 per dollar at 9:50 a.m. after earlier hitting a record low of 61.21.
Also Read: See further rupee weakness; can't bet on RBI's aid: HDFC Bk
Three traders said the central bank likely started selling dollars when the rupee was trading at around 61.15 levels, while two other dealers said they were spotted a little earlier at around 61.21 levels.
MCX NCDEX TIPS
The rupee fell on Monday on fears of foreign outflows after stronger-than-expected US jobs growth data cemented expectations of an early end to US stimulus measures.
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Jul 08, 2013, 09.31 AM IST
Sensex may slip to 18925-18688: Angel Broking
According to Angel Broking's technical
report, last week’s low of 19147 / 5760 would act as a key support level
for the market. Any sustainable move below this level would trigger
immense pessimism in the market. As a result, indices may go back to
test 18925 – 18688 / 5700 – 5630 levels.
According to Angel Broking's technical
report, the concluded week's price action can easily be described as a
‘Tug-of-War’ between the bulls and the bears. After a decent up move,
indices came off sharply at the middle of the week and again retested
early-week highs in the latter part of the week. The indices have closed
marginally above the daily ’89-EMA’ level of 19329 / 5850. Also, we are
observing that indices are hovering around the 50% Fibonacci
retracement level of the fall from 20444 / 6229 to 18467 / 5566, which
is placed at 19455 / 5898. During the week, indices confirmed the weekly ‘Bullish Engulfing’ pattern mentioned in our previous weekly report. The momentum oscillators on the weekly chart are positively poised. The impact of these evidences would be seen once indices sustain above this week’s high of 19640 / 5904. In such a scenario, indices may rally towards the 61.8% and 78.6% Fibonacci retracement levels placed at 19689 / 5976 and 20021 / 6088.
NSE BSE TRADING TIPS
On the flip side, this week’s low of 19147 / 5760 would act as a key support level for the market. Any sustainable move below this level would trigger immense pessimism in the market. As a result, indices may go back to test 18925 18688 / 5700 5630 levels. In broader perspective, a move beyond the trading range of 19640 19147 / 5904 5760 would dictate the near term direction.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Jul 05, 2013, 10.20 AM IST
BSE Sensex, Nifty off day's high; Infosys, ICICI Bank down
Indian equity benchmarks erased some
early gains, weighed down by ICICI Bank, Infosys and HDFC. The BSE
Midcap and Smallcap indices rose nearly 1 percent as nearly 3 shares
advanced for every share falling on the Bombay Stock Exchange.
 |
The BSE Sensex is up 141.68 points or 0.73 percent at 19552.52, and the Nifty is up 38.60 points or 0.66 percent at 5875.55.
The BSE Midcap and Smallcap indices rose nearly 1 percent as nearly 3 shares advanced for every share falling on the Bombay Stock Exchange.
Hindustan Unilever ( HUL ) shares gained more than 3 percent and also touched an all-time high of Rs 632 after getting strong response to the open offer nearly USD 5 billion of its Anglo Dutch firm Unilever.
ITC gained more than one percent as the cigarette major hiked prices of Gold Flake brand by over 7 percent.
STOCK FREE TRAILS TIPS
However, Infosys declined 0.8 percent while ICICI Bank and HDFC declined marginally.
Asian markets like Hang Seng and Nikkei gained 1.5 percent each. The ECB declared it would keep interest rates at record lows for an extended period and may even cut further.
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Jul 04, 2013, 09.30 AM IST
Oil over USD 101 on US supply drop, Egypt
Around midday today, US benchmark oil
was up USD 1.63 to USD 101.23 a barrel. It rose to USD 102.18 earlier, a
high since May of last year. Oil has not closed above USD 100 since May
3, 2012.
 |
Also Read: Gas price hike to encourage exploration: Oil India
Around midday today, US benchmark oil was up USD 1.63 to USD 101.23 a barrel. It rose to USD 102.18 earlier, a high since May of last year. Oil has not closed above USD 100 since May 3, 2012.
Brent crude, which is used to price oil used by many US refineries to make gasoline, rose USD 1.67 to USD 105.67 a barrel in London. The Energy Department reported today that US crude supplies fell by 10.3 million barrels from the previous week, more than three times the drop that analysts had expected.
The drop was likely the result of reduced supplies from Canada because of a temporary pipeline shutdown there, as well as increased demand from a BP refinery that restarted in Indiana. But the drop could also be an indication that US demand is rising. At the same time, traders were worried that political upheaval in Egypt could slow the flow of oil from the Middle East to world markets.
STOCK NIFTY TRAILS TIPS
Embattled Egyptian President Mohammed Morsi vowed not to resign ahead of a deadline to yield to the demands of millions of protesters. The Egyptian military has threatened to suspend the constitution, disband parliament and install a new leadership.
On the streets, the sense that both sides are ready to escalate the dispute sharpened, with clashes between Morsi's supporters and opponents killing at least 23 people, most of them in a single incident of fighting outside Cairo University.
Egypt is not an oil producer but its control of the Suez Canal, one of the world's busiest shipping lanes, gives it a crucial role in maintaining global energy supplies. The Middle East accounts for about a quarter of the world's crude oil output, or 23 million barrels per day.
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Jul 04, 2013, 09.09 AM IST
Indian rupee opens higher at 60.09 per dollar
The Indian rupee opened higher at 60.09
per dollar versus 60.21 Wednesday. "Geopolitical risks are keeping oil
prices high, which is negative for the rupee. FIIs continue to be net
sellers in the debt segment, says Mohan Shenoi, Kotak Mahindra Bank.
 |
Mohan Shenoi of Kotak Mahindra Bank feels geopolitical risks are keeping oil prices high, which is negative for the rupee.
FIIs continue to be net sellers in the debt segment, he adds. According to him, the range for the day is seen between 60-60.50/USD.
The euro was steady above 1.30 ahead of the ECB policy decision today. The dollar index was above the 83 mark.
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Jul 03, 2013, 09.26 AM IST
BSE Sensex down 200 pts, rupee weak at 59.97/USD
The Sensex opens 158.49 points down at
19305.33, and the Nifty is 5811.95 down 45.60 points. The rupee opened
lower by 21 paise at 59.87 per dollar versus 59.66 Tuesday.
 |
The rupee opened lower by 21 paise at 59.87 per dollar versus 59.66 Tuesday. Pramit Brahmbhatt, Alpari said, "The rupee is likely to trade lower on a stronger dollar, weak domestic market and high dollar demand from importers. The range for the day is seen between 59.32-60.22/USD."
Asian markets were trading lower in morning trade on Wednesday.
STOCK TIPS
US markets bounced off their worst levels to close marginally lower on Tuesday.
Brent crude continued to gain on geopolitical concerns, above USD 104 level. Nymex crude too is above USD 100 a barrel. From precious metals space, gold slipped from earlier highs on Tuesday, ending lower as the dollar strengthened and investors looked for further indications that the US Federal Reserve may soon end or taper its economic stimulus program. Gold hovered around USD 1250 an ounce.
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Jul 03, 2013, 08.27 AM IST
Gold inches up after Fed officials' comments on stimulus
Gold edged higher on Wednesday after a
near 1 percent fall in the previous session, as two Federal Reserve
officials said the U.S. central bank was likely to continue supporting
the economy through asset purchases for some time.
 |
FUNDAMENTALS
* Spot gold rose 0.2 percent to USD 1,244.06 an ounce by 0014 GMT, while US gold was little changed at USD 1,243.5. Spot gold fell 0.9 percent on Tuesday as the dollar strengthened.
* Bullion, typically seen as a hedge against inflation, has taken a beating since Fed Chairman Ben Bernanke said last month the economy was recovering strongly enough for the central bank to begin tapering its stimulus in the next few months, and possibly end the programme in mid-2014.
* Gold posted its biggest ever quarterly loss of 23 percent for the April-June period, but began the third quarter on a positive note.
* Investors are awaiting US data this week to determine the strength of the economy and the exact timing of the Fed tapering.
COMMODITY TRADING TIPS
* The Fed's easy monetary policy will likely be warranted for "quite some time" as the US central bank drives down high unemployment while nudging low inflation back toward target, Fed Board Governor Jerome Powell said on Tuesday.
* The head of the Federal Reserve Bank of New York on Tuesday reiterated that the US central bank will likely continue to support the economic recovery for some time to come despite market worries that it was soon pulling back.
* SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.37 percent to 964.69 tonnes on Tuesday.
* Gold traders in India, the world's biggest buyer of the metal, stayed on the sidelines on Tuesday, and premiums continued to get support from lower supplies due to restrictions by the central bank.
* For the top stories on metals and other news, click, or
MARKET NEWS
* The US dollar hit its highest in a month against the yen and euro on Tuesday while a gauge of global equities fell as US stocks reversed course to end slightly lower.
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Jul 02, 2013, 10.58 AM IST
Nifty slips; Videocon arm Value Ind up 20% on banking foray
Indian equity benchmarks are marginally
in red on profit booking Tuesday, after rising more than 1000 points on
the Sensex in previous three sessions. Even major Asian markets like
Shanghai and Hang Seng are down 0.4 percent each.
 |
"Our positive view on the stock is based on ongoing reforms to deregulate diesel, which would cut subsidy sharply and boost earnings and investor sentiment," the brokerage house report said.
10:55am Equity benchmarks extended losses a bit with the Nifty falling 27 points to 5873 and the Sensex losing 69 points to 19509.
Aviation stocks are under pressure as Jet Airways and SpiceJet lost nearly 4 percent. Karnataka Bank and IFCI lost 4 percent each on profit booking.
Dish TV shares gained nearly 2 percent as Nomura advises buying the stock with a target price of Rs 108. "Direct-to-home companies, including Dish, have increased set top box prices to reduce subsidy, attract quality customers and improve their balance sheet," the brokerage house report said.
10:45am Steel Strips Wheels shares dropped nearly 3 percent after poor numbers in June. The company sold 7.43 lakh wheel rims in June, down 9.72 percent compared to 8.23 lakh units sold in previous month.
Even its exports declined to 1.06 lakh units from 1.11 lakh units during the same period.
Gitanjali Gems shares are locked at 5 percent lower circuit for the second consecutive session today. Its lower circuit chain has been continued from last week.
10:35am The BSE Sensex is down 42.49 points at 19534.90, and the Nifty is down 21.05 points at 5877.80.
Tata Motors shares slipped nearly 2 percent on profit booking while Jindal Steel lost 2.5 percent.
Telecom operator Bharti Airtel topped the buying list, rising 2.5 percent followed by Sun Pharma and GAIL with 1.4-1.7 percent gains.
10:25am Indian rupee appreciated by 14 paise to 59.37 per dollar Tuesday as against previous close of 59.52.
STOCK FREE TRAILS TIPS
McNally Bharat Engineering gained 0.5 percent after the company received order worth Rs 109 crore for supply and installation of coal handling plant.
Value Industries is locked at 20 percent upper circuit as diversified conglomerate Videocon Industries applied for banking license in the name of this company.
10:05am Indian equity benchmarks are marginally in red on profit booking Tuesday, after rising more than 1000 points on the Sensex in previous three sessions. Even major Asian markets like Shanghai and Hang Seng are down 0.4 percent each.
The BSE Sensex is down 7.32 points at 19570.07, and the Nifty is down 9.95 points at 5888.90, but broader markets outperformed benchmarks.
The BSE Midcap and Smallcap indices gained 0.4 percent each as advancing shares outnumbered declining ones by 759 to 513 on the exchange.
United Breweries rallied more than 10 percent.
IOC shares gained more than one percent after the oil retailer raised diesel price by 50 paise followed by hike petrol and jet fuel prices last week.
PK Goyal, Director Finance of IOC says 50 paise diesel hike cuts under-recovery by Rs 300 crore per month. Diesel under-recovery is now at Rs 8.10 per litre, he adds.
Goyal sees diesel under-recovery for current financial year 2013-14 at Rs 59,000 crore and first quarter under-recovery for industry is at Rs 25,000 crore.
He expects under-recovery for industry at Rs 1.25 lakh crore for FY14.
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Jul 01, 2013, 10.01 AM IST
Public float defaulters to face fresh penal actions: Sebi
The deadline for private sector listed
companies to achieve minimum 25 per cent public shareholding expired on
June 3, following which Sebi had taken interim actions against 105
companies that failed to comply with the norms.
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At the same time, the capital markets watchdog has also stepped up its efforts to engage with about a dozen listed public sector companies, which need to achieve minimum 10 per cent public float by sale of shares worth an estimated Rs. 3,000 crore before a separate deadline of August 8.
Also read: Sebi plans over 50 per cent increase in headcount
The deadline for private sector listed companies to achieve minimum 25 per cent public shareholding expired on June 3, following which Sebi had taken interim actions against 105 companies that failed to comply with the norms.
As per Sebi's interim order dated June 4, these companies were given 21-day time to present their case before the regulator with regard to their non-compliance.
STOCK MCX TRADING TIPS
"As the time to respond to the Sebi show-cause notice has expired, the regulator is now considering further actions against defaulters for the minimum public holding norms," a senior official said.
While some companies made genuine efforts to meet this regulatory requirement of having minimum 25 per cent public float, Sebi has also come across certain "wilful defaulters" who did not make any visible attempts to increase the public shareholding, he added.
Since the time Sebi passed its interim order, about two dozen companies have initiated steps to comply with the minimum public holding norms and some of them have already complied with the norms.
Even these companies face the risk of further action as they failed to meet the deadline.
However, the final Sebi action against the defaulter companies and their promoters would be taken after taking into account the efforts made by them in meeting the norms, the official said, while adding that the regulator would also try to safeguard the interest of minority shareholders.
The actions being considered against defaulter companies and their promoters and directors include levying of monetary penalties, initiating of criminal proceedings, moving their shares to restricted trade categories, among others.
In its June 4 interim order, Sebi had cracked the whip on promoters and directors of 105 companies by barring them from dealings in shares and from holding any new position on boards of listed entities.
Besides, Sebi had also ordered freezing the voting rights and corporate benefits of promoters of these companies, in proportion of their non-compliance to the minimum public holding norms that require at least one-fourth of the share capital to be held by the non-promoter public shareholders.
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Jul 01, 2013, 09.24 AM IST
Rupee weakens after two-day rally
Domestic stocks are expected to give further direction to the currency
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Also Read: Rupee to hover in 59-59.50/$ this week: Mohan Shenoi
The rupee was trading at 59.46/47 to the dollar as against 59.385/395 Friday close. It hit a record low of 60.76 last week.
Foreign investors were buyers of $189.15 million of Indian equities on Friday, but continued to remain sellers in rupee-debt with sales of $114.09 million on Thursday.
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Jun 28, 2013, 09.47 AM IST
Sensex surges over 300 pts; ONGC up 5%, Coal India gains 4%
Boosted by government's move to
increase gas price, the market has opened on a strong note. The Sensex
is up 293.36 points at 19169.31 and the Nifty is at 5771.35, up 89.00
points.About 375 shares have advanced, 69 shares declined, and 22 shares
are unchanged.
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9.42 am Market check: The Sensex is up 311.99 points or 1.65 percent at 19187.94, and the Nifty is at 5779.70, up 97.35 points. About 810 shares have advanced, 275 shares declined, and 55 shares are unchanged.
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Jun 28, 2013, 09.29 AM IST
Rupee recovers post gas price hike, soars above 60/$
The rupee appreciated by 28 paise to
59.91 per dollar in early trade on gas price revision by CCEA, after
opening at 60.02 as against previous day's closing of 60.18 per dollar.
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The rupee appreciated by 28 paise to 59.91 per dollar in early trade, after opening at 60.02 as against previous day's closing of 60.18 per dollar.
The currency gained for the second consecutive session today to go above 60 mark from its record closing low of 60.71 per dollar. It had touched its all-time low of 60.76 on Wednesday.
STOCK TIPS
Pramit Brahmbhatt of Alpari feels the rupee is likely to consolidate its position further today with support from a positive stock market, lower then expected current account deficit (CAD) and on comments by Fed officials that there is still time before QE (Quantitative Easing) can be phased out.
"However, a strong dollar could act as a deterrent. The range for the day is seen between 59.86-60.85/USD," he adds.
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Jun 27, 2013, 09.30 AM IST
F&O cues: Nifty June 5700 call adds 23.5 lakh shares in OI
F&O cues: Highest open interest
(OI) buildup was seen at Nifty June 5700 call & Nifty June 5500 put
on Wednesday ahead of expiry Thursday.
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June series options-Highest open interest (OI) buildup at Nifty 5700 call & Nifty 5500 put on Wednesday ahead of expiry
-Nifty 5700 call adds 23.5 lakh (26 percent) shares in OI, premium down from 9 to 2
-Nifty 5500 put adds 5.8 lakh (8 percent) shares in OI, premium up from 5 to 7
-Nifty 5600 Call adds 13 lakh (23 percent) shares in OI, premium down from 35 to 16
NIFTY TIPS
July Series-Highest OI buildup at Nifty 5600 put & Nifty 5800 call
-Nifty 5600 Put adds 2.1 lakh (5.5 percent) shares in OI, premium up from 114 to 130
-Nifty 5800 Call adds 6.6 lakh (28 percent) shares in OI, premium down from 54 to 40
-Nifty 5500 Put adds 10.3 lakh (36.5 percent) shares in OI, premium up from 78 to 90
-Nifty 5000 Put adds 4.9 lakh (88 percent) shares in OI, premium up from 9.5 to 10
-Nifty 6000 Call adds 4.6 lakh (29 percent) shares in OI, premium down from 17 to 10.5
-Nifty 5600 Call adds 4.3 lakh (28 percent) shares in OI, premium down from 138 to 116
-Nifty 5400 Put adds 3.9 lakh (22.5 percent) shares in OI, premium up from 52 to 60
-Nifty 5700 Call adds 2.4 lakh (13 percent) shares in OI, premium down from 73 to 71
FIIs in F&O (June 26, Source: NSE)
FII net buy Rs 57 crore in index future
FII net sell Rs 61 crore in index option
FII net buy Rs 468 crore in stock futures
FII net buy Rs 50 crore in stock options
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Jun 27, 2013, 08.27 AM IST
Global mood upbeat: Will Nifty end June series above 5600?
Global markets ended in the green on Wednesday on hopes that Fed would not rollback stimulus program soon.
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Weak rupee spoiled mood on the Dalal Street in late trade. It pierced through the 60 mark against the US dollar to end at 60.71. The Nifty fell 27.85 points to close at 5581.25 and the Sensex was down 77.03 points to finish at 18552.12.
Asian markets were trading higher in the morning on Thursday.
STOCK TIPS
"One can now say that global markets have stabilized, but the fall in rupee is disastrous. Given the global markets are, the Nifty might see some pullback in the opening trade today. It is also likely that we may see a rally as this series expires," CNBC-TV18’s managing editor Udayan Mukherjee said.
Stocks to watch
Cabinet committee on investments will be meeting today to consider ITC pulp project. ITC requires 445 hectares of forest land in Andhra Pradesh. The company plans to expand plant to 2 lakh tonne per annum.
Sasan Power says that the CERC has directed the company to retest 101 mw capacity. Reliance Power says that Sasan Power will move appellate tribunal to quash CERC order.
Customers Bancorp of US picks 6.1% in Religare Enterprises for USD 51 million. Religare Enterprises will issue USD 28 million warrant, USD 1 million shares to Customers Bancorp.
Reports indicate that IMG recommends issuing showcause notices to 40 more coal mines including JSPL , HZL & Ultratech . The showcause notices would be issued for delaying production.
Shree Ganesh Jewellery board will mull issue of equity shares on preferential basis today. The company may issue of equity shares to non promoters/foreign investors.
US
US markets closed sharply higher after the weaker-than-expected final read on first-quarter gross domestic product diminished worries that the Fed would taper its stimulus measures in the immediate future. The CBOE volatility index declined near 17.
US treasury prices eased their gains after the government sold USD 35 billion in five-year notes at a high yield of 1.484 percent. On the economic data front, the US GDP expanded at a tepid 1.8 percent annual rate from a previously reported 2.4 percent pace. Economists had expected first-quarter GDP growth would be left unrevised at 2.4 percent.
Key data to watch
The weekly initial jobless claims are expected to come in lower at 345000 versus 354000. The pending home sale for May is due later today. Estimates see it rising to 1 percent after the mild 0.3 percent gain in April. The May personal income may come in a bit higher at 0.2 percent. Consumer spending is also expected to rise to 0.4 percent.
Europe
Markets ended higher with 1-2 percent gains. In Germany, a forward-looking consumer sentiment indicator showed morale, was at its highest level in nearly six years. The index came in at 6.8 for July, above expectations for 6.5, and up on June.
Currency
The euro stood at 1.30 to the dollar after slipping to 1.29 level. The dollar index was above the 82.80 mark.
Commodities
Brent crude rose to USD USD 101 per barrel following a large build up in US gasoline inventories. From precious metals space, gold hovered around USD 1240 an ounce.
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Jun 26, 2013, 09.29 AM IST
Gold drops to 3-year low on strong US data
Bullion prices have been sliding since
Fed Chairman Ben Bernanke laid out a strategy last Wednesday to wind
down the bank's USD 85 billion monthly bond purchases on the back of a
recovering economy.
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Bullion prices have been sliding since Fed Chairman Ben Bernanke laid out a strategy last Wednesday to wind down the bank's USD 85 billion monthly bond purchases on the back of a recovering economy.
Spot gold fell 1.4 percent to USD 1,258.54 an ounce by 0202 GMT. Gold for immediate delivery fell to USD 1,254.74 earlier - its lowest since September 2010, while Comex gold also fell to a near 3-year low of USD 1,254.6.
Gold's losses since the beginning of last week through Tuesday amount to 8 percent, or about USD 113 per ounce.
COMMODITY TRADING TIPS
"We've pushed past the USD 1,270 level seen last week. That's a key technical level so we are going through a whole bunch of stop losses," said Victor Thianpiriya, commodities analyst at Australia and New Zealand Banking Group.
Silver fell over 2 percent to its lowest since August 2010.
The Fed said it would wind down bullion-friendly bond purchases from later this year, and end purchases by mid-2014 depending on the economic recovery.
Data on Tuesday showed US consumer confidence jumped in June to its highest level in more than five years, while sales of new U.S. single-family homes rose to their highest level in nearly five years in May.
Physical demand subdued
When gold fell the most in thirty years in mid-April after 12 annual gains, strong physical demand in Asia helped cap losses.
However, this time around demand has risen only slightly as buyers are waiting on the sidelines for prices to stabilize.
"We have not seen a substantial increase in demand," said Thianpiriya. "The liquidity issue in China is also hurting sentiment."
The People's Bank of China has raised concerns of a lasting credit crunch as it tries to curtail a vast informal loan market and shore up growth, although it has sought to allay fears that its tough stance will lead to a banking crisis.
Shanghai gold futures fell almost 2 percent on Wednesday.
Demand in India has fallen as the government imposes new rules to discourage gold buying in an effort to reduce a record current account deficit.
SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 16.23 tonnes to 969.50 tonnes on Tuesday, to their lowest since February 2009.
Jun 26, 2013, 09.19 AM IST
Indian rupee slips 8 paise to 59.74 per dollar
Indian rupee fell to 59.74 per dollar
on Wednesday morning as against previous day's closing of 59.66 per
dollar. Himanshu Arora of Religare feels the Indian rupee may strengthen
slightly against the dollar on speculation that RBI may intervene and
stop the rupee fall to 60/USD.
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Himanshu Arora of Religare feels the Indian rupee may strengthen slightly against the dollar on speculation that RBI may intervene and stop the rupee fall to 60/USD.
According to him, "The range for the day is seen between 59.48-59.80/USD,"
Jun 25, 2013, 09.56 AM IST
BSE Sensex volatile amid weak Asian cues; Tata Motors drops
Indian equities recovered on Tuesday
after seeing a fall in previous session due to China's liquidity
concerns. However, Asian markets remained under pressure, especially
China's Shanghai extended losses to 4 percent and is trading at 2009
levels.
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Shares of HDFC Bank , TCS , ONGC , Bharti Airtel and Mahindra & Mahindra gained 1-1.5 percent.
China shares extended losses on Tuesday, sinking to their lowest levels since early 2009, with the financial sector again hard hit on expectations that an official crackdown on easy credit and tighter funding conditions will persist, reports Reuters.
09:35am Equity benchmarks are consolidating amid weak Asian cues, after previous day's more than 200 points fall on the Sensex.
The BSE Sensex is down 13.45 points at 18527.44, and the Nifty is down 4.90 points at 5585.35.
Country's largest lenders State Bank of India and ICICI Bank slipped more than one percent.
Commercial vehicle maker Tata Motors extended losses to 2.5 percent, topping the selling list in morning trade.
The broader markets are under pressure as two shares declined for every share advancing on the National Stock Exchange.
TRADING TIPS NSE BSE
09:20am Indian equities recovered on Tuesday after seeing a fall in previous session due to China's liquidity concerns. However, Asian markets remained under pressure, especially China's Shanghai extended losses to 4 percent and is trading at 2009 levels.
The BSE Sensex is up 72.85 points at 18613.74, and the Nifty is up 21.90 points at 5612.15. Gitanjali Gems plunged another 20 percent on fall in gold prices.
M&M Financial slipped further, losing 3.5 percent after the company said it would not apply for banking license.
Apollo Tyres bounced back, rising one percent.
Videocon Industries jumped over 3 percent after sources told CNBC-TV18 that Videocon is likely to apply for banking licence today. It is set to bring in foreign bank for banking foray and will divest part stake to the banking partner. Videocon will hold majority stake and a separate subsidiary to be launched for banking foray.
National Fertilisers fell more than 2 percent as its divestment is likely within a week. The inter-ministerial group will meet on NFL divestment today. The government will divest 7.64 percent stake.
IGL has hiked Delhi CNG price by Rs 2 a kg w.e.f. midnight to Rs 41.90/kg. Prices in Ghaziabad and Noida have been hiked by Rs 2.25. It has also hiked piped cooking gas price by Re 1 per unit in Delhi.
www.Shristocktips.com
Jun 25, 2013, 09.13 AM IST
F&O cues: Nifty 5400 Put adds 22.2 lakh shares in OI
F&O cues: Nifty June 5700 Call
added 28.2 lakh (43 percent) shares in open interest (OI) on Monday and
Nifty 5600 Put shed 21 lakh (23 percent) shares in OI.
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Nifty 5700 Call adds 28.2 lakh (43 percent) shares in open interest (OI) on Monday, premium down from 18 to 10
Nifty 5600 Put sheds 21 lakh (23 percent) shares in OI, premium up from 37 to 55
Nifty 5400 Put adds 22.2 lakh (61 percent) shares in OI, premium up from 2.7 to 5
Nifty 5600 Call adds 12.4 lakh (30 percent) shares in OI, premium down from 63 to 37
Nifty 5500 Put adds 8.5 lakh (14 percent) shares in OI, premium up from 10 to 19
Big addition to OI witnessed at lower level puts with marginal upward premiums
Nifty 5700 Put sheds 18.5 lakh (27 percent) shares in OI, premium up from 95 to 125
NIFTY, OPTION TIPS
Nifty 5800 Call sheds 17 lakh (18 percent) shares in OI premium down from 6.5 to 2.5
NSE F&O Cues: July Series
Nifty 5600 Put adds 10.5 lakh (43 percent) shares in OI, premium up from 103 to 132
Nifty 5900 Call adds 5.7 lakh (31 percent) shares in OI, premium down from 33 to 26
FIIs in F&O (June 24, Source: NSE)
FII net sell Rs 33 crore in index future; OI contracts up by 48371
FII net buy Rs 1232 crore in index option; OI contracts up by 128164
FII net buy Rs 453 crore in stock futures; OI contracts up by 25445
FII net buy Rs 48 crore in stock options; OI contracts up by 1534
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Jun 24, 2013, 09.30 AM IST
Rupee may trade at 59.95/$ on 1 month forward basis
It does not look like Asian currencies
are taking a beating simply because the US 10-year closed at more than
2.5 percent, says CNBC-TV18's Latha Venkatesh.
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The Indian currency saw some recovery on Friday, ended at 59.27 against the US currency.
Also Read: Rupee will inevitably breach 60/USD: Credit Agricole
The US 10-year closed at 2.53 percent, way above the Indian market before closing on Friday. According to her, the connection is snapping because despite the fall in the US 10-year, the equities did well, so the impact of US 10-year seems waning.TRADING TIPS NSE BSE
The risk-off continues, but the Asian currencies opened on Monday on a falt note. The Negotiated Dealing System (NDS) market indicates a rupee level of 59.95 against the dollar one month forward.
Today, the Indonesian rupee has opened about 0.3 percent lower, but the Philippine Peso is about 0.2 percent higher. It does not look like Asian currencies are taking a beating simply because the US 10-year closed at more than 2.5 percent. It might be a credit market and then one needs to wait and watch how equities perform.
www.Shristocktips.com
Jun 24, 2013, 08.59 AM IST
F&O cues: Nifty 5800 Call adds 10 lakh shares in OI
F&O cues: Nifty 5600 Put added 16.3
lakh shares in open interest (OI) and NIfty 5600 Call added 9.5 lakh
shares in OI on Friday.
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Nifty 5800 Call adds 10 lakh shares in Open Interest (OI) on Friday
Nifty 5600 Put adds 16.3 lakh (22 percent) shares in OI, premium down from 45 to 26.5
NIfty 5600 Call adds 9.5 lakh (30 percent) shares in OI, premium up from 69.5 to 84
Nifty 5700 Call adds 5.9 lakh (10 percent) shares in OI, premium up from 29 to 32
Nifty 5400 Put adds 4 lakh (12 percent) shares in OI, premium down from 6 to 2.75
NIFTY OPTION TIPS
Nifty 5700 Put adds 2.3 lakh (3.5 percent) shares in OI, premium down from 96 to 70
Nifty 5900 Call sheds 7.7 lakh (12 percent) shares in OI, premium down from 3.2 to 2.5
Nifty 5800 Put sheds 7 lakh (15 percent) shares in OI, premium down from 186 to 147
FIIs in F&O (June 21, Source: NSE)
FIIs net sell Rs 269 crore in index future; OI contracts down by 5458
FIIs net sell Rs 473 crore in index option; OI contracts up by 50325
FIIs net buy Rs 579 crore in stock futures; OI contracts up by 9745
FIIs net sell Rs 64 crore in stock options; OI contracts up by 2650
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Jun 21, 2013, 09.10 AM IST
Indian rupee opens weak at 59.80 per dollar
The Indian rupee opened lower by 23
paise at 59.80 per dollar versus 59.57 Thursday. "The rupee is showing
weakness due to capital outflows and weakness in other EM (emerging
market) currencies, " says Ashok Gautam of Axis Bank.
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Ashok Gautam of Axis Bank says the rupee is showing weakness due to capital outflows and weakness in other EM (emerging market) currencies. Strong dollar buying in offshore markets is also adding to the pressure, he adds.STOCK TIPS
He further says, "Possible intervention by RBI and some likely big ticket inflows may check the fall in rupee. The range for the rupee is seen between 59.25-60.25/USD."
The dollar gained on the prospect of an end to super-easy money from the Federal Reserve. The euro too hold above 1.32 to the dollar. The dollar index was above 81.50 levels.
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Jun 21, 2013, 08.22 AM IST
Gold tumbles again, could see worst week in 30 years
Spot gold - down nearly 9 percent this
week - dropped for the fifth straight session, while Comex gold futures
also declined over 1 percent to their lowest in three years.
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Spot gold - down nearly 9 percent this week - dropped for the fifth straight session, while Comex gold futures also declined over 1 percent to their lowest in three years.
Fed Chairman Ben Bernanke said on Wednesday the central bank would taper its USD 85 billion monthly bond buying programme as the US economy was recovering strongly, ending purchases around mid-2014 if economic growth held up.
"What the market is undergoing now is a state of normalisation, going back to pre-stimulus times," said Joyce Liu, investment analyst at Phillip Futures in Singapore.
"Since the first stimulus programme in 2009, markets have jumped despite fundamentals not justifying such a spike."
Gold was also hurt by CME Group Inc's move to raise initial margins for Comex gold after prices plunged over 6 percent on Thursday.
The exchange operator raised Comex 100 Gold Futures initial margins for speculators by 25 percent to USD 8,800 per contract from USD 7,040.
"That is definitely affecting gold too. For those who cannot put out margin calls on time, they will be squeezed out even when they don't want to get out," said Liu.
Until recently, gold - seen as a hedge against inflation - had gained as the global economy took a hit and central banks acted to boost their economies. Gold touched an all-time high of USD 1,920.30 in 2011.
Spot gold was down 0.5 percent at USD 1,271.16 an ounce by 0121 GMT on Friday. The metal fell to USD 1,269.04 earlier - its lowest since September 2010 and a level which would mark the worst weekly decline in 30 years.
It has lost 24 percent of its value this year, after recording 12 years of gains.
Gold is on weak technical ground and will fall below USD 1,200 an ounce before finding support, technical analysts said.
UBS lowered its 2013 gold price outlook by 10 percent to USD 1,440 an ounce, and its 2014 forecast to USD 1,325 an ounce from USD 1,625.
SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.42 percent to 995.35 tonnes on Thursday - the lowest in more than four years.
But the drop in prices could see a spurt in physical demand in top consumers India and China, which have been quiet recently.
However, Liu said the demand would not be as strong as April when gold prices fell the most in 30 years over just two days.
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Jun 20, 2013, 10.04 AM IST
Sensex dn 385 on rupee fall; banks, realty, metal hammered
The immediate worry is of foreign
institutional investors pulling out of equities, and aggravating the
downtrend, and the deeper concern is about the impact that a weak rupee
will have on India’s current account deficit.
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The Sensex was down 384.74 points at 18860.96, and the Nifty was down 123.45 points at 5698.80. The rupee today hit a record low of 59.91 to the dollar.
The immediate worry is of foreign institutional investors pulling out of equities, and aggravating the downtrend, and the deeper concern is about the impact that a weak rupee will have on India’s current account deficit. STOCK TRADING TIPS
The bigger mayhem was being played out in the Indian bond market, where trading has been halted due to unprecedented selling.
Metal, realty and banking shares were among the biggest losers.
www.Shristocktips.com
Jun 20, 2013, 08.37 AM IST
F&O cues: 6000 Call adds 4.2 lakh shares in OI
F&O cues: 6100 Call added 1.1 lakh shares in Open Interest and 6000 Call added 4.2 lakh shares in Open Interest.
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6000 Call adds 4.2 lakh shares in Open Interest
5700 Put adds 6.4 lakh (8.5%) shares in OI; premium down from 29 to 25
5800 Put adds 4 lakh (6%) shares in OI; premium down from 64 to 58
5600 Put adds 3.4 lakh (6%) shares in OI; premium down from 12 to 9.7
5500 Put adds 2.6 lakh (5%) shares in OI; premium down from 4 to 3.5
6100 Call adds 1.1 lakh (2%) shares in OI; premium up from 3.3 to 4.2
5800 Call sheds 4.4 lakh (7%) shares in OI; premium up from 63 to 77
5900 Put sheds 2.5 lakh (7%) shares in OI; premium down from 129 to 113
FIIs in F&O June 19
FIIs net sell Rs 360 cr in Index Future; OI Contracts up by 14688
FIIs net sell Rs 1075 cr in Index Option; OI Contracts down by 18181
FIIs net buy Rs 629 cr in Stock Futures; OI Contracts up by 2532
FIIs net sell Rs 35 cr in Stock Options; OI Contracts up by 1229
www.Shristocktips.com
Jun 19, 2013, 09.29 AM IST
Rupee approaches record low ahead of Fed meeting
The rupee was trading at 58.70/72 per dollar at 9.06 am after opening at 58.82.
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Also read: Fed meet expectations hitting rupee; 60/USD seen: Axis Bank
The rupee was trading at 58.70/72 per dollar at 9.06 am after opening at 58.82. The rupee hit a record closing low of 58.77/78 on Tuesday, and remains within touch of an all-time low of 58.98 last week.
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Jun 18, 2013, 09.51 AM IST
BSE Sensex, Nifty weak; Bharti Airtel, Rel Comm outperform
After making some smart moves on
Monday, the market makes a quiet opening today. The Sensex is up 8.20
points at 19334.07, and the Nifty is down 8.15 points to be at 5841.90.
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9:40 am FII view: Brokerage house Morgan Stanley says the leading indicators for equity returns are in good shape, and that it would be a buyer in the event of a market fall.SHARE, NSE BSE TIPS
According to Morgan Stanley, the three key concerns on Indian equities have been high FII ownership and positions especially in the context of any risk off, the market's complacency about tail risks; and adverse political developments.
The brokerage says that FII ownership and positions have reduced after the sell-off on concerns over the Fed stimulus being scaled down.
"Both may have a bit more to fall before one can say that their overhang has completely gone away," said Morgan Stanley strategists Ridham Desai, Sheela Rathi, and Utkarsh Khandelwal in their note clients.
Don't miss: Nifty to hold 5800; maintain long positions, says Sukhani
9:22 am Midcap movers: Polaris , Hexaware, Idea, Reliance Comm , Orchid Chemicals, Educomp and Apollo Tyres are gainers among the midcap stocks
9:20 am Gainers: Bharti Airtel (up 1.54 percent), M&M, Infosys , Wipro and L&T are among the key gainers in Sensex.
Check out what Udayan Mukherjee says: Global markets factoring in Fed's dovish stance
After making some smart moves on Monday, the market makes a quiet opening today. The Sensex is up 8.20 points at 19334.07, and the Nifty is down 8.15 points to be at 5841.90. About 156 shares have advanced, 104 shares declined, and 32 shares are unchanged.
Share buybacks are set to get tougher -- Sebi board is likely to consider stricter buyback rules, learns CNBC-TV18. It may include halving the buyback period to six months, keeping a portion of the funds in escrow, and a one-year cooling-off period between buybacks.
The rupee opened lower by 39 paise at 58.25 per dollar versus 57.86 yesterday. The euro stayed above 1.33 to the dollar. The dollar index was sub 81 mark. However, the yen slipped slightly against the dollar.
On the global front, US markets recovered from their lows to close higher on Monday following positive economic data and as investors await clarity on Fed's bond purchase programme. European markets also ended higher.
The Fed is also expected to provide an update on its economic projections for 2013-2015. The Fed's latest projections, made in March this year, saw real GDP growth at around 2.6 percent in 2013 and 3.2 percent in 2014. In terms of unemployment, the Fed projected a rate of around 7.4 percent in 2013, improving to around 6.9 percent in 2014.
In key data to watch out for in US, consumer price index is seen rising to 0.2 percent in May. Housing starts are seen at 0.955 million units.
Brent crude price stood around USD 105 a barrel after touching a 10-week high close to USD 107 a barrel. From precious metals space, gold price remained largely unchanged at USD 1384 an ounce.
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Jun 18, 2013, 09.08 AM IST
Indian rupee opens weak at 58.25 per dollar
The Indian rupee opened lower by 39
paise at 58.25 per dollar versus 57.86 yesterday. "The rupee is likely
to open weak on better US data. The range for the rupee is seen between
57.80-58.20/USD, " says Arvind Narayanan, DBS Bank.
 |
Arvind Narayanan, DBS Bank said, "The rupee is likely to open weak on better US data. FII flows in both equity and debt markets have been edgy and weak in the last few trading sessions. Investors will watch out for the FOMC announcement before taking large positions. The range for the rupee is seen between 57.80-58.20/USD."
The euro stayed above 1.33 to the dollar. The dollar index was sub 81 mark. However, the yen slipped slightly against the dollar.
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Jun 17, 2013, 09.09 AM IST
Indian rupee opens at 57.70 per dollar
The Indian rupee opened at 57.70 per
dollar against 57.51 Friday. "The rupee could strengthen marginally on
positive trade data and on a rate cut," says Agam Gupta, Standard
Chartered Bank.
 |
Agam Gupta, Standard Chartered Bank said, "The rupee could strengthen marginally on positive trade data and on a rate cut. Standard Chartered expects a 25 bps Repo rate cut, however the risk of a no rate cut is high due to the recent rupee deprecation. The range for the rupee is seen between 57.40-57.90/USD." STOCK TRADING TIPS
Euro stayed above 1.33 to the dollar ahead of the FOMC meet this week. The dollar index was below the 81 mark. The dollar-yen was sub 95.
Jun 17, 2013, 08.31 AM IST
Asian markets trade firm; Nikkei gains 1%
At 7: 78 am (IST), Asian markets were
trading firm. Hang Seng rose 0.86 percent at 21,150.01, Nikkei gained
1.12 percent at 12,828.73 and Straits Times added 0.48 percent at
3,176.76.
 |
Japan's Nikkei gained 1.12 percent or 142.21 points at 12,828.73.
Singapore's Straits Times added 0.48 percent or 15.33 points at 3,176.76.
South Korea's Seoul Composite was flat at 1,888.57.COMMODITY TIPS
Taiwan's Taiwan Weighted advanced 0.49 percent or 38.88 points at 7,976.62.
China's Shanghai Composite was down 0.13 percent or 2.78 points at 2,159.26.
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Jun 14, 2013, 09.25 AM IST
Rupee opens stronger tracking Asian peers, shares
India's headline inflation probably
held near the central bank's comfort level of five percent last month,
giving it room to ease policy, as commodity, food and fuel costs
remained moderate.
|
Also read: Indian rupee recovers, gains 23 paise to 57.75/USD
At 9:01 am, the partially convertible rupee was at 57.79/80 per dollar compared to it close of 57.98/99 on Thursday. The unit rose to as high as 57.75 in opening deals.STOCK TIPS
India's headline inflation probably held near the central bank's comfort level of five percent last month, giving it room to ease policy, as commodity, food and fuel costs remained moderate, a Reuters poll found.
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Jun 14, 2013, 09.19 AM IST
F&O Cues: Nifty 5700 Call adds 19.9 lakh shares in OI
F&O Cues: Nifty 5700 Call added
19.9 lakh shares in open interest (OI) and Nifty 5900 Call added 9.3
lakh shares in OI on Thursday.
 |
Nifty 6000 Call sheds 1.7 lakh (2 percent) shares in open interest (OI), premium down from 12 to 10 on Thursday
Nifty 5700 Put sheds 1.6 lakh (2 percent) shares in OI, premium up from 70 to 80
Nifty 5700 Call adds 19.9 lakh (129 percent) shares in OI, premium down from 93 to 84NIFTY TRADING TIPS
Nifty 5900 Call adds 9.3 lakh (17 percent) shares in OI, premium down from 25 to 21
Nifty 5400 Put adds 8.8 lakh (28 percent) shares in OI, premium up from 7 to 10
Nifty 5600 Put adds 6.8 lakh (15 percent) shares in OI, premium up from 40 to 43
Nifty 5600 Call adds 4.9 lakh (56 percent) shares in OI, premium down from 160 to 145
Nifty 5800 Call adds 3.8 lakh (7 percent) shares in OI, premium down from 50 to 44
Nifty 5800 Put sheds 10.3 lakh (17 percent) shares in OI, premium up from 132 to 137
FIIs in F&O (June 13, Source: NSE)
FIIs net sell Rs 484 crore in index future; OI contracts up by 37297
FIIs net buy Rs 82 crore in index option; OI contracts up by 65144
FIIs net buy Rs 4 crore in stock futures; OI contracts up by 8269
FIIs net sell Rs 29 crore in stock options; OI contracts up by 1323
Jun 13, 2013, 10.01 AM IST
F&O Cues: Nifty 5700 Put adds 7.25 lakh shares in OI
F&O Cues: Nifty 5700 Put added 7.25
lakh shares in open interest (OI) and Nifty 5800 Call added 19.4 lakh
shares in OI on Wednesday.
 |
Nifty 6000 Call adds 6.9 lakh shares Open Interest (OI) on Wednesday
Nifty 5700 Put adds 7.25 lakh (11 percent) shares in OI, premium down from 58 to 55.5
Nifty 5800 Call adds 19.4 lakh (60 percent) shares in OI, premium down from 83 to 71
Nifty 5400 Put adds 11.7 lakh (58 percent) shares in OI, premium up from 5 to 5.5
Nifty 5700 Call adds 5.2 lakh (50 percent) shares in OI, premium down from 141 to 125
Nifty 5900 Call adds 3.9 lakh (7.5 percent) shares in OI, premium down from 46 to 37
Nifty 5900 Put sheds 5.5 lakh (11 percent) shares in OI, premium up from 160 to 164
NIFTY TRADING TIPS
FIIs in F&O (June 12; Sources - NSE)
FIIs net sell Rs 483 crore in index future; OI contracts up by 42773
FIIs net sell Rs 1520 crore in index option; OI contracts up by 60455
FIIs net sell Rs 235 crore in stock futures; OI contracts up by 16522
FIIs net buy Rs 2 crore in stock options; OI contracts up by 6011
www.Shristocktips.com
Jun 13, 2013, 09.48 AM IST
Sensex down 170 pts; Apollo Tyres & Sun Pharma crash
The market has once again opened on a
shaky note as the Sensex starts trading session 194.49 points down at
18846.64, and the Nifty is down 50.85 points or 0.88% at 5709.35. About
38 shares have advanced, 241 shares declined, and 26 shares are
unchanged.
|
Art Woo, Director, Fitch Asia Sovereign Ratings says the rating agency acknowledges the moves by the Indian government to address the fiscal deficit problem ( full interview here .)
Woo says there has been a structural shift in the economy, though it is early to judge the reform measures initiated by the government. Easing of inflation is an added positive for the economy, but other challenges loom, said Woo.BSE, STOCK TIPS
The two key headwinds right now are weak growth and the high current account deficit, Woo said.
9:42 am Buzzing: MMTC is down 10 percent on the BSE. The government is selling 9.33 percent stake in MMTC today and has fixed the floor price at Rs 60 apiece, which will fetch the exchequer about Rs 600 crore. MMTC disinvestment would be the first stake sale of the government in the current fiscal. The government aims to raise Rs 40,000 crore from PSU stake sale in 2013-14.
9:40 am Losers: Sun Pharma , Jindal Steel , Tata Motors , Wipro and HDFC are top losers in the Sensex.
9:32 am Expert speaks: There could be more pain for equities in the medium term unless the rupee shows signs of stabilising, says Dhiraj Agarwal of Standard Chartered Securities . He expects the Nifty to find support in the 5,700-5,750 range near term.
The weak industrial output data for April and high consumer inflation underscores the stress in the economy and this will reflect in the stock market, Agarwal says.
Nevertheless, there are stock specific buying opportunities even as the broader market is in a bear grip, he says.
Hopes of an interest rate cut have receded following the pressure on the rupee, and the higher-than-expected consumer inflation for May.
But even if the RBI were to cut rates, it would not really help in reviving the investment cycle, he says.
9:30 am Market update: The Sensex is down 179.41 points at 18861.72, and the Nifty is down 47.40 points at 5712.80. About 249 shares have advanced, 690 shares declined, and 52 shares are unchanged.
Don't miss: How to trade Apollo, Sun Pharma, Ambuja, Sesa Goa & Biocon
The market has once again opened on a shaky note as the Sensex starts trading session 194.49 points down at 18846.64, and the Nifty is down 50.85 points or 0.88% at 5709.35. About 38 shares have advanced, 241 shares declined, and 26 shares are unchanged.
Ratings agency Fitch raising India's economic outlook to 'stable' from 'negative' has not even managed to boost market sentiments. On Wednesday, the rating agency has given a thumbs up to the government's fiscal consolidation drive and expects inflation to ease further.
Stock specifically, Apollo Tyres crashes 13% as the company acquired US based Cooper Tires for about USD 2.5 billion and will fund the deal through debt.
Other losing stock is Sun Pharma (down 5.1 percent) as the drug company settled Protonix patent infringement battle with Pfizer and Takeda for USD 550 million.
Meanwhile, the rupee has opened at 58.10 per dollar Thursday, down by 31 paise compared to previous day's closing of 57.79 per dollar.
On the global market front, Wall Street ended yet again in red in choppy trading. The CBOE VIX, the volatility index, spiked 9 percent. The Dow posted its first three day losing streak, amid concerns of Fed tapering its quantitative easing (QE) The Dow Jones Industrial Average tumbled 126.79 points, to close at 14,995.23
The important data to be released from the US today are the weekly jobless claims. Estimates peg it slightly higher at 350000 compared to 346000 the previous week.
In other asset classes, the euro is holding firm above 1.33 to the dollar. The dollar index has slipped below the 81 mark. Meanwhile, the yen strengthened, currently sub 96. In commodities, Brent Crude hovers around 103 dollars per barrel. From precious metals space, gold is continuing to trade around 1385 dollars an ounce.
www.Shristocktips.com
Jun 11, 2013, 09.58 AM IST
Nifty slips below 5850; Jindal Steel, ICICI lose 3%
The Sensex opens down 54.16 points at
19386.91 while the Nifty is down 29.25 points or at 5848.75. About 88
shares have advanced, 165 shares declined, and 26 shares are unchanged.
 |
9:50 am Management speaks: PK Goyal, Director Finance, IOC says in an interview to CNBC-TV18 that diesel under-recovery is now at Rs 5.67 per litre and full under-recovery project is now over Rs 1 lakh crore. He adds that the oil marketing company (OMC) will continue with once-a-month diesel hike.
9:40 am Losers: Jindal Steel (down 2.94 percent), ICICI Bank (down 2.17 percent), M&M (down 1.43% percent), Tata Steel (down 1.36 percent) and Bharti Airtel (down 1.36 percent) are major losers in the Sensex.
9:35 am Buzzing: Elder Pharma is up 5 percent on the BSE. The drug company has mandated Ernst & Young and Nomura Securities to find a buyer for the company through a negotiated transaction, media reports say.
9:30 am Market update: The Sensex is down 39.37 points at 19401.70, and the Nifty is down 17.00 points at 5861.00. About 333 shares have advanced, 550 shares declined, and 57 shares are unchanged.
What is Udayan view on the market today?
The market has opened on a soft note as rupee has hit all-time high. The rupee has touched a record low of 58.30 per dollar in opening trade Tuesday due to heavy dollar buying, as against previous day's closing of 58.15 per dollar.
The Sensex opens down 54.16 points at 19386.91 while the Nifty is down 29.25 points or at 5848.75. About 88 shares have advanced, 165 shares declined, and 26 shares are unchanged.
Technology stocks are getting strong as rupee depreciates. Infosys, TCS and Wipro are the lead gainers on the Sensex. Meanwhile, ICICI Bank, M&M, Sun Pharma , Jindal Steel and HDFC are the major losers.
Globally, US markets closed narrowly in mixed choppy trading as investors seemed to take a breather following last week’s sharp rally and amid worries over the Federal scaling back it stimulus program. The Dow closed flat despite ratings agency, S&P raising its sovereign credit outlook to "stable" from "negative".
SHARE, STOCK TRADING TIPS
The agency added that the likelihood of a near-term downgrade is "less than one in three." It also said that US’ credit strengths include its resilient economy, its monetary credibility, and the dollar's status as the world's key reserve currency.
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Jun 11, 2013, 09.16 AM IST
China, Indian suitors eye bids for Rio Australia coal mines
Rio Tinto is selling a 29 percent stake
in its Coal & Allied business and its majority stake in the
Clermont mine in Queensland state, with preliminary bids due this week.
 |
Also read: Accumulate Coal India; target of Rs 370: PLilladher
The coal stakes are among a string of assets Rio
INDIAN STOCK TIPS
Rio Tinto
State-run Coal India Ltd
Rio Tinto, Aditya Birla Group and Coal India declined to comment, while Shenhua was not available for a comment. Sources declined to be identified as the sale process is confidential.
Jun 10, 2013, 09.48 AM IST
BSE Sensex up over 110 pts, rupee hits all-time low
Indian rupee hit a new record low of
57.37 in morning trade, after opening at 57.25 per dollar on Monday as
against Friday's closing of 57.06 a dollar.
 |
9:46 am Market update: The Sensex
is up 110.94 points at 19540.17, and the Nifty adds 34.60 points to be
5915.60. About 767 shares have advanced, 358 shares declined, and 68
shares are unchanged.
Earlier, it had hit touched a all-time low of 57.32 per dollar in June 2012.
Fortis Health raised USD 55 million via FCCB allotment. India Bulls Power starts commercial operations of thermal plant at Amravati.
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Jun 10, 2013, 09.15 AM IST
F&O cues: Nifty 6100 Call adds 7.85 lakh shares in OI
F&O cues: Nifty 6100 Call added
7.85 lakh shares in Open Interest (OI) and Nifty 6000 Call added 9.4
lakh shares in OI on Friday.
 |
Nifty 5900 Put sheds 72000 shares in Open Interest (OI) on Friday
Nifty 6100 Call adds 7.85 lakh shares in Open Interest
Nifty 6000 Call adds 9.4 lakh shares in Open Interest
Nifty 5600 Put adds 7.2 lakh shares in Open Interest
Nifty 5700 Put adds 4.4 lakh shares in Open Interest
NIFTY TRADING TIPS
Nifty 5900 Call adds 3 lakh (8 percent) shares in OI, premium down from 99 to 88
Nifty 5800 Put adds 2.4 lakh (4 percent) shares in OI, premium up from 53 to 56
Nifty 6200 Call adds 2 lakh (3.5 percent) shares in OI, premium down from 13 to 10.5
FIIs in F&O (June 07, Source: NSE)
FIIs net sell Rs 509 crore in index future; OI contracts up by 1274
FIIs net buy Rs 1457 crore in index option; OI contracts up by 116449
FIIs net sell Rs 76 crore in stock futures; OI contracts up by 10386
FIIs net buy Rs 20 crore in stock options; OI contracts up by 2354
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Jun 07, 2013, 09.53 AM IST
BSE Sensex flat; midcaps outperforms, RPG Life up 10%
The market is unable to gather strength
as investors look cautious. Opening on a flat note, the Sensex is down
30.72 points at 19488.77, and the Nifty is down 21.35 points oat
5900.05. About 129 shares have advanced, 106 shares declined, and 30
shares are unchanged.
|
9:40 am Buzzing: RPG Life Sciences jumps 9.76 percent as the company has sold part of its land at Navi Mumbai to Maruti Suzuki India . RPG Life Sciences has sold the leasehold rights on its surplus land admeasuring 14,148.90 square metres, situated at TTC Industrial Area, Village Pawane for a consideration of Rs 76.91 crore.
9.34 am Market update: The Sensex is down 11.82 points at 19507.67, and the Nifty slips 8.30 points to 5913.10.
9:20 am Adani Ports Block Deal: 3.1 crore shares exchanged hands on BSE at Rs 150 per share. The stock is currently at Rs 152.15, down Rs 0.50, or 0.33 percent on the BSE.
Expert views: Market to remain choppy; sell on rallies, says Sukhani
The market is unable to gather strength as investors look cautious. Opening on a flat note, the Sensex is down 30.72 points at 19488.77, and the Nifty is down 21.35 points oat 5900.05. About 129 shares have advanced, 106 shares declined, and 30 shares are unchanged.BSE stock tips
Globally, US markets closed out a volatile session with half a percent gains amid caution ahead of the government's monthly jobs report and as the US dollar tumbled against the Japanese yen.
The Dow Jones added 80 points, to close at 15,040.62, avoiding a three-day losing streak. The CBOE volatility index ended near 17.
The ECB left its main interest rate unchanged at a record low 0.50 percent and said the euro zone is on track for a "very gradual recovery" later this year driven by the central bank's loose monetary policy and demand from abroad. ECB chief Mario Draghi said the central bank is "technically ready" to lower the bank's deposit rate into negative territory for the first time, which would mean the ECB would charge commercial banks for holding their money overnight.
Meanwhile, Asian markets were trading negative.
Stock specifically, Maruti, HDFC , Hindalco , ICICI Bank and ITC are major losers in the Sensex. Ranbaxy is down 1.6 percent as media reports suggest that Apollo Pharmacy has temporarily suspended sale of medicines manufactured by the drug firm. It has also stopped further procurement from the company for now.
Hero Motocorp , Tata Power , Reliance , Dr Reddys Labs and Wipro are key gainers in early trade.
The Indian rupee opened with a gain of 15 paise at 56.69 per dollar against 56.84 Thursday.
Himanshu Arora, Religare said, "The dollar may weaken slightly against the rupee on positive US jobs report released yesterday. Government's steps to cap CAD by curbing gold imports may also support the rupee in the short-term. The range for the day is seen between 56.60-57.03/USD."
The euro rose to a one-month high of 1.32 to the dollar. The dollar index fell as low as 81.077 yesterday, its lowest since late February. Meanwhile, the dollar fell sharply against the yen.
www.Shristocktips.com
Jun 07, 2013, 09.08 AM IST
Rupee gains 15 paise vs dollar in early trade
On Friday the Indian rupee opened with a
gain of 15 paise at 56.69 per dollar against 56.84 Thursday. According
to Himanshu Arora of Religare, the dollar may weaken slightly against
the rupee on positive US jobs report released yesterday.
|
Himanshu Arora, Religare said, "The dollar may weaken slightly against the rupee on positive US jobs report released yesterday. Government's steps to cap CAD by curbing gold imports may also support the rupee in the short-term. The range for the day is seen between 56.60-57.03/USD."
The euro rose to a one-month high of 1.32 to the dollar. The dollar index fell as low as 81.077 yesterday, its lowest since late February. Meanwhile, the dollar fell sharply against the yen.
Also Read - Re weakness to continue unless RBI intervenes: Rajwade
Jun 06, 2013, 10.31 AM IST
Kotak ups IT cos FY14-15 EPS estimates on falling Rupee
Kotak expects IT companies will get a
EPS boost due to the recent Rupee depreciation, but there will not be
much margin benefits due to increasing competition, and lower pricing
push by clients.
 |
Kotak Institutional Equities has raised its earnings per share (EPS)
estimates on tier-I software services exporters by 3-5 percent for
FY2014-15 following a depreciation in the Indian Rupee.
The Rupee has fallen sharply in recent days and hit a near one year low of Rs 57 to one US Dollar on Thursday.
Kotak Institutional says it has incorporated revised USD-Rupee assumptions of Rs 56 and Rs 55.5 for FY14 and FY15 respectively, up from Rs 54 and Rs 53.5 earlier.
Also Read: Edelweiss bets on IT, pharma; sees Nifty swinging 600 pts
However, the analysts say one shouldn't expect any significant margin boost from the falling Rupee.
STOCK TIPS
"Companies will struggle to retain margin benefits due to competitive pressures, smarter buying strategies by clients and the need to invest to expand addressable market," they said on Thursday.
So for instance, TCS ' FY14 EPS forecast has now been increased to Rs 82.9 from Rs 79.6, Wipro 's EPS forecast has been upped to Rs 27.3 from Rs 26.2 and HCL Tech 's forecast has been raised to Rs 57.8 from Rs 55.9. EBITDA margin forecast, however, has largely remained unchanged.
Competition has increased at a time of slowdown in market share gain for Indian IT cos, that and commoditization of traditional services has led to pressure on pricing and profitability. Further, clients are also now able to push for lower pricing and staffing of more experienced resources on projects, the Kotak analysts add.
The brokerage has raised target price of IT stocks like TCS , HCL Tech , Wipro , Tech Mahindra , MindTree , Hexaware and MphasiS by 3-5 percent.
However, barring an "add" rating on Infosys , Tech Mahindra / Satyam and MindTree , Kotak feels investors should "sell" or "reduce" other IT stocks.
The CNX-IT index was trading down 0.3 percent in morning trade. While Infosys and MindTree were down 1.3 percent and 0.6 percent respectively, TCS, Tech Mahindra, HCL Tech, MphasiS and Hexaware were up 0.6-2.3 percent. The wider Nifty index was down 0.6 percent.
Don't Miss: FinMin snubs banks for reckless lending
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The Rupee has fallen sharply in recent days and hit a near one year low of Rs 57 to one US Dollar on Thursday.
Kotak Institutional says it has incorporated revised USD-Rupee assumptions of Rs 56 and Rs 55.5 for FY14 and FY15 respectively, up from Rs 54 and Rs 53.5 earlier.
Also Read: Edelweiss bets on IT, pharma; sees Nifty swinging 600 pts
However, the analysts say one shouldn't expect any significant margin boost from the falling Rupee.
STOCK TIPS
"Companies will struggle to retain margin benefits due to competitive pressures, smarter buying strategies by clients and the need to invest to expand addressable market," they said on Thursday.
So for instance, TCS ' FY14 EPS forecast has now been increased to Rs 82.9 from Rs 79.6, Wipro 's EPS forecast has been upped to Rs 27.3 from Rs 26.2 and HCL Tech 's forecast has been raised to Rs 57.8 from Rs 55.9. EBITDA margin forecast, however, has largely remained unchanged.
Competition has increased at a time of slowdown in market share gain for Indian IT cos, that and commoditization of traditional services has led to pressure on pricing and profitability. Further, clients are also now able to push for lower pricing and staffing of more experienced resources on projects, the Kotak analysts add.
The brokerage has raised target price of IT stocks like TCS , HCL Tech , Wipro , Tech Mahindra , MindTree , Hexaware and MphasiS by 3-5 percent.
However, barring an "add" rating on Infosys , Tech Mahindra / Satyam and MindTree , Kotak feels investors should "sell" or "reduce" other IT stocks.
The CNX-IT index was trading down 0.3 percent in morning trade. While Infosys and MindTree were down 1.3 percent and 0.6 percent respectively, TCS, Tech Mahindra, HCL Tech, MphasiS and Hexaware were up 0.6-2.3 percent. The wider Nifty index was down 0.6 percent.
Don't Miss: FinMin snubs banks for reckless lending
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Jun 05, 2013, 09.41 AM IST
Gold down 1% as India extends bullion import ban
The Reserve Bank of India (RBI) on
Tuesday extended the import restrictions placed on banks, which were
introduced last month, to all nominated agencies and trading houses.
 |
Also read: Curbing gold import may have short-term impact, says WGC
The Reserve Bank of India (RBI) on Tuesday extended the import restrictions placed on banks, which were introduced last month, to all nominated agencies and trading houses.
The move came after Monday's data showed India's gold imports jumped to around 162 tonnes in May from 142.5 tonnes in April.
"The news that the RBI will curb imports of gold by agencies has weighed prices down today as it is a wider restriction and could imply lower imports of gold into the country," Societe Generale analyst Robin Bhar said.
Bhar said that June imports could drop to between 50 and 100 tonnes with India at the end of the wedding and Hindu festival seasons. Both are traditionally major gold-buying events.
FREE COMMODITY TRADING TIPS
Spot gold fell one percent to USD 1,397.34 an ounce by 2:54 pm EDT (1854 GMT).
On Monday, it gained nearly two percent after data showed U.S. manufacturing activity had slowed to the lowest level in nearly four years, weakening arguments for the Federal Reserve to slow its USD 85 billion monthly mortgage-bond buying.
The central bank said in May that it would scale back its easing sooner if economic indicators showed signs of continued strengthening.
An overall improvement in the US economy and the absence of any inflation in the near future could weigh on gold as interest rates begin to climb, analysts said.SILVER GOLD TIPS
"The potential for real rates to turn positive, which would incur a greater opportunity cost in owning gold, would thus be negative for bullion prices," said James Steel, chief metals analyst at HSBC.
US economic data will remain in focus this week, as Friday's non-farm payroll data for May will provide investors with more clues about how long the Fed might keep US stimulus measures in place.
US Comex gold futures for August delivery settled down USD 14.70 at USD 1,397.20 an ounce, with trading volume about 50 percent below its 30-day average, preliminary Reuters data showed.
Holdings of the SPDR Gold Trust, the largest gold-backed exchange-traded fund, remained unchanged on Monday for the fourth day in a row following hefty outflows in the last three months.
Silver fell 1.2 percent to USD 22.43 an ounce. Platinum was down 0.3 percent to USD 1,489.24 an ounce and palladium lost 1.2 percent at USD 747.72 an ounce.
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Jun 05, 2013, 09.15 AM IST
Indian rupee opens flat at 56.42 per dollar
The Indian rupee opened flat at 56.42
per dollar against 56.44 Tuesday. "The rupee is likely to be rangebound
owing to primary measures taken by the RBI to control CAD, a flat euro
and possible RBI intervention around 57/USD, " says Pramit Brahmbhatt,
Alpari India.
-
 |
Pramit Brahmbhatt, Alpari India said, "The rupee is likely to be rangebound owing to primary measures taken by the RBI to control CAD, a flat euro and possible RBI intervention around 57/USD. The range for the day is seen between 56.26-56.71/USD."
The euro stays above 1.30 to the dollar. The dollar index was at 82.80 levels.
www.Shristocktips.com
Jun 04, 2013, 09.17 AM IST
Oil rises above $93 in European trade
Lately, subpar economic indicators have
actually prompted some buying of oil, because the weaker the economy
the less likely the Federal Reserve is to begin lifting the stimulus
measures it has in place.
 |
Benchmark oil for July delivery rose USD 1.48 to close at USD 93.45 a barrel in New York.
Also read: Sell MCX Crude June; target Rs 5005-4950: Fortune Financial
Lately, subpar economic indicators have actually prompted some buying of oil, because the weaker the economy the less likely the Federal Reserve is to begin lifting the stimulus measures it has in place.
Monday was no different after a weaker-than-expected report on US manufacturing, said Jim Ritterbusch, president of energy consultancy Ritterbusch and Associates.
MCX, NCDEX TRADING TIPS
"Markets such as the equities and oil are interpreting data releases below expectations as a signal that the Fed will delay any tightening measures," Ritterbusch wrote in a note to clients.
A measure of US manufacturing fell in May to its lowest level since June 2009. The Institute for Supply Management said Monday that its index of manufacturing activity fell to 49 last month from 50.7 in April. A reading under 50 indicates contraction.
But most automakers posted strong sales for May, which could give a boost to sluggish gasoline demand.
Conflicting Chinese figures left investors uncertain over the state of the world's second largest economy. Though the official manufacturing purchasing managers index, a gauge of activity, rose to 50.8 in May from 50.6 the previous month, an equivalent survey from HSBC fell to 49.2 from 50.4. Anything above 50 indicates expansion.
However, a survey for the 17 European Union countries that use the euro offered some hope for the future of the eurozone economy. The monthly manufacturing PMI from financial information company Markit rose to 48.3 points in May from the initial estimate of 47.8.
Brent crude, a benchmark for pricing oil used by many US refineries to make gasoline, gained USD 1.67 to finish at USD 102.06 in on the ICE Futures exchange in London on Monday.
Pump prices in the US remained at USD 3.62 a gallon. That's down one cent from a week ago, but three cents higher than at this time last year.
In other energy futures trading on the New York Mercantile Exchange:
Wholesale gasoline added three cents to end at USD 2.79 a gallon.
Heating oil rose five cents to finish at USD 2.83 per gallon.
Natural gas advanced by about a cent to end at USD 3.99 per 1,000 cubic feet.
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Jun 03, 2013, 09.08 AM IST
Indian rupee slips marginally in early trade
Indian rupee has opened lower at 56.54
per dollar on Monday. Agam Gupta of Standard Chartered Bank feels there
is a possibility of RBI intervention if the rupee crosses 56.75/USD.
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Agam Gupta of Standard Chartered Bank says the reduction in dollar demand could help stabilise the rupee. However, residual dollar demand could add pressure, he adds. SHARE TIPZ
He feels there is a possibility of RBI intervention if the rupee crosses 56.75/USD.
According to him, the range for the day is seen between 56.30-56.75/USD.
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Jun 03, 2013, 08.50 AM IST
Global mkts end May in red; things to know as June begins
Global markets ended the month of May in the red with the Dow and S&P 500 posting their worst one-day drop since mid-April.
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Asian markets followed suit on Monday, Japanese market slipped 2 percent. China’s official PMI data, out on Saturday, rose to 50.8 in May from 50.6 in April, beating market expectations.
Stocks to watch
Back home, NR Narayana Murthy returned to Infosys in an executive role. Brokerages are positive on the stock in the near term, but are awaiting more details. KV Kamath stepped down as chairman and became the lead independent director.STOCK TIPS
IOC has upped petrol prices by 75 paise per litre and diesel prices by 50 paise per litre. IOC has said that the hike in diesel prices is due to the recent depreciation in the rupee and that revenue loss on diesel is at Rs 4.87 per litre despite the rate hike. On the other hand, IOC has cut LPG rates by Rs 45 per cylinder for the non-subsidised quota. The revenue loss on cooking gas currently stands at Rs 334.5 per cylinder for the company
In the latest fund raising action, BGR Energy promoters will sell over 44 lakh shares via OFS today. It has set a floor price at Rs 163 a share. Omaxe promoters will be selling up to 2.1 crore shares and has set a floor price of Rs 140 a share.
Essar Ports promoter will sell over 32 lakh shares via OFS route with a floor price at Rs 77 a share. Meanwhile Adani Ports will sell over 6 crore shares via IPP, that will open and close on Tuesday. It has set the price band at Rs 148-158 a share
Reports suggest that Sun Pharma is in talks to buy Swedish drugmaker Meda AB for a whopping USD 5 billion. The acquisition will give Sun Pharma greater access to the European markets where it now has no presence. Meda is a speciality pharma firm that operates primarily in respiratory and dermatology segments.
Auto sales for the month of May saw a steep drop. High interest cost, increase in fuel prices and sluggish economic activity kept sales low. Maruti 's month-on-month sales were down 13 percent. Tata Motors too disappointed, sales down 3 percent
US markets ended the month of May with big losses, with the Dow and S&P 500 posting their worst one-day drops since mid-April, but major averages still logged monthly gains. The Dow rallied 1.86 percent, the S&P 500 jumped 2.08 percent, and the Nasdaq soared 3.82 percent for the month of May. The CBOE volatility index soared above 16.
On the economic data front, consumer sentiment hit its highest level in nearly six years in May rising to 84.5 from 76.4 in April. But consumer spending fell 0.2 percent in April for the first time in almost a year.
INTRADAY FREE TRAILS
In Europe, markets closed lower on disappointing German and Italian data. Data for Italy showed its unemployment rate climbed to a worse-than expected 12 percent in April. In addition, youth unemployment rose to a record of 40.5 percent. Retail sales data for Germany also disappointed, showing a 0.4 percent dip in April month-on-month, when analysts had expected a 0.2 percent increase.
In the currency space, the euro was flat at 1.29 to the dollar. The dollar index stood at the 83.20 mark. The volatility in the Indian currency continues as it ended trade at 56.50 to the dollar on Friday after slipping to 11-month lows.
In commodities, Brent crude slipped sharply below USD 100 level on tepid demand and a weak economic outlook. From precious metals space, gold hovers around USD 1394 an ounce.
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May 31, 2013, 09.49 AM IST
Petrol price may be hiked this week
This will be the first price-hike in
three months' time. Petrol prices were last increased on March 1. Since
then, petrol prices have been cut four times on falling global oil
prices.
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Also read: OMCs mull petrol-price hike on June 1 on weak rupee
As per the practice of revising rates every fortnight, petrol price revision is due tomorrow and if oil ministry approves the increased prices will come into effect from June 1, sources privy to the development said.
While international oil prices have softened, the rupee has depreciated against the US currency to Rs 56.38/39 per dollar, about Rs two lower than the rate at the last revision in March.
SHARE MARKET TRADING TIPS
This will be the first price-hike in three months' time. Petrol prices were last increased on March 1. Since then, petrol prices have been cut four times on falling global oil prices.
Petrol prices were cut by Rs three per litre on May 1, Rs 1.20 on April 16, Re one on April 1 and Rs 2.40 on March 16. It costs Rs 63.09 a litre in Delhi currently.
With the depreciation in rupee, the loss on diesel sales too has widened to about Rs five a litre form Rs 3.78 previously and there was a clear-cut case for implementing the monthly revision of 40-50 paisa per litre from June 16.
The government had in January allowed oil firms to raise diesel prices in small dozes of 40-50 paisa per litre every month till such time that the losses on the fuel sales are wiped out.
Diesel price have since then been hiked four times, the last being on May 11 when it was raised by Rs 1.02 a litre. Diesel in Delhi now costs Rs 49.69 a litre.
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May 30, 2013, 09.59 AM IST
Asia stocks down as Fed fears weigh on markets
Japan's Nikkei 225 index fell 2.8
percent to 13,932.92. Hong Kong's Hang Seng shed 0.2 percent to
22,518.85. Australia's S&P/ASX 200 dropped 1.5 percent to 4,900.90.
Benchmarks in Singapore, Taiwan, Indonesia, and the Philippines also
fell. South Korea went against the flow, rising 0.2 percent to 2,005.99.
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Sharp rises in global stock markets this year have been partly fueled by central bank actions to support economies in the US, Europe and Japan. Positive signs of growth in the US, including data released Tuesday showing improved consumer confidence and housing prices, have helped boost Wall Street stocks to record highs.
Also read: Asia stocks post muted gains on improving US data
However, an improving US economy increases the chance that the Fed might ease back on its massive bond-buying program, known as quantitative easing. The purchase of USD 85 billion a month in Treasury bonds has helped keep interest rates super-low and been a boon to stock markets, where investors have fled in search of higher returns.
Japan's Nikkei 225 index fell 2.8 percent to 13,932.92. Hong Kong's Hang Seng shed 0.2 percent to 22,518.85. Australia's S&P/ASX 200 dropped 1.5 percent to 4,900.90. Benchmarks in Singapore, Taiwan, Indonesia, and the Philippines also fell. South Korea went against the flow, rising 0.2 percent to 2,005.99.
COMMODITY FREE TIPS
The lack of major data releases for the day deprives investors of reasons to wade into stocks, analysts said.
"A lack of first tier data releases today will limit activity although the tone will likely remain relatively downbeat," said Mitul Kotecha of Credit Agricole CIB in a market commentary.
The latest speculation surrounding the Fed came after the release of positive consumer confidence and housing news on Tuesday. That led investors to fret over the prospect of the Fed reducing its bond-buying.
With the approach of the end of the month, investors also were booking profits.
Benchmark oil for July delivery was up five cents to USD 93.15 per barrel in electronic trading on the New York Mercantile Exchange. The contract for the benchmark grade fell USD 1.88 to close at USD 93.13 a barrel on the Nymex on Wednesday.
In currencies, the euro rose to USD 1.2958 from USD 1.2934 late Thursday in New York. The dollar rose to 101.23 yen from 101.15 yen.
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May 29, 2013, 09.34 AM IST
BSE Sensex opens 55 pts up, Indian rupee at 11-month low
The Indian rupee opened weak at 56.16
per dollar versus 55.96 Tuesday. The rupee was trading at its lowest
level since June 28, 2012 on strong buying in US dollar.
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9:30 am Gainers: Other early gainers in the Sensex are Coal India, Hero MotoCorp, TCS and Wipro.
The Indian rupee opened weak at 56.16 per dollar versus 55.96 Tuesday. The rupee was trading at its lowest level since June 28, 2012 on strong buying in US dollar.
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May 29, 2013, 09.00 AM IST
Asia stocks post muted gains on improving US data
Rising US consumer confidence and home
prices painted a picture of a rebounding economy, helping Asian stock
markets to post muted gains Wednesday.
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Wall Street resumed its record-breaking rally on Tuesday after the Standard & Poor`s/Case-Shiller survey found that US home prices rose 10.9 percent in March, the most since April 2006. On top of that, the Conference Board in Washington reported consumer confidence rising to a five-year high.
"Market sentiment was given a lift overnight with the US consumer confidence index coming in higher than expected and the house price indices showing stronger gains, indicating a strong underlying momentum in the economy in the face of fiscal restraint," said Anthony Lam of Credit Agricole CIB in an email commentary.
STOCK TIPS
The figures are particularly encouraging because they indicate that U.S. consumer spending, which accounts for 70 percent of activity in the world`s largest economy, is firmly recovering.
Japan`s Nikkei 225 index rose 0.1 percent to 14,325.64. South Korea`s Kospi advanced 0.4 percent to 1,994.93. Benchmarks in Taiwan, Indonesia, New Zealand and the Philippines also rose.
Hong Kong`s Hang Seng fell 0.8 percent to 22,736.03. Australia`s S&P/ASX 200 lost 0.1 percent to 4,965.50.
On Tuesday in New York, the Dow Jones industrial average rose 0.7 percent to 15,409.39, a record high. The Standard & Poor`s 500 index rose 0.6 percent to 1,660.06. The Nasdaq composite index rose 0.9 percent, to 3,488.89.
Benchmark oil for July delivery fell 18 cents to USD 94.83 per barrel in electronic trading on the New York Mercantile Exchange. The contract for the benchmark grade rose 86 cents to close at $95.01 on Tuesday.
In currencies, the euro fell to USD 1.2858 from USD 1.2876 late Tuesday in New York. The dollar rose to 102.18 from 102.08 yen.
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May 28, 2013, 09.05 AM IST
Nikkei may break below 14,000 as sentiment remains fragile
European shares bounce in thin trade,
Fiat rallies Yen firms, euro edges up versus dollar in thin trade. Gold
rises on physical demand as dollar dips. Brent dips on weak economic
data, ample supplies.
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Also read: Asian markets trade firm; Nikkei, Hang Seng up
The Nikkei is likely to trade between 13,750 and 14,150 after skidding 3.2 percent to 14,142.65 in the previous session, strategists said.
Investors remain nervous after the Nikkei plunged 7.3 percent last Thursday, its biggest single-day percentage loss since the March 2011 earthquake and tsunami. The selloff was triggered by worries the US Federal Reserve will roll back its stimulus this year and weak factory activity data from China, Japan's second-biggest export market.
"The very fragile market will continue because market participants are cautious over the uncertainty in the short-term," said Takashi Hiroki, chief strategist at Monex Inc.
"The Nikkei futures dropped to around 13,700 in the night session."
STOCK TRAILS TIPS
On Monday, the broader Topix index sank 3.4 percent to 1,154.07, despite support by the Bank of Japan, which bought 18.8 billion yen worth of exchange traded funds.
However, while the recent tumult has spooked investors, the benchmark Nikkei is still up 36 percent this year, and has gained 14.5 percent since April 4, when the Bank of Japan announced a sweeping monetary expansion campaign to eliminate years of deflation and revive growth.
European shares bounce in thin trade, Fiat rallies Yen firms, euro edges up versus dollar in thin trade.
Stocks to watch
Fast Retailing Co Ltd
Fast Retailing, the Japanese operator of the Uniqlo and Theory fashion brands, for now will not sign a legally binding safety pact for factories in Bangladesh, preferring to ramp up its own inspections, the Wall Street Journal reported on Monday.
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May 27, 2013, 09.45 AM IST
Nifty crosses 6000; RIL gains 3.4%, Britannia up 14%
RIL is big index gainer today as it
gained 3.4 percent on the BSE. RIL on Friday announced a huge natural
gas discovery, possibly the biggest find ever in KG-D6 block.
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"Revenue was in line, while costs were meaningfully ahead, due to higher expenditure on provisions and support services," said the Credit Suisse note.
Experts' views:
How banks will benefit from bond yield fall: Moses Harding
Nifty to fall further; sell in May and go away: Sukhani
9:37 am Losing stocks: M&M, Bajaj Auto, Wipro, Hero Motocorp and Cipla are key losers in the Sensex.
9:34 am Market update: The Sensex is up 85.78 points at 19790.11, and the Nifty up 27.25 points at 6010.80. About 659 shares have advanced, 325 shares declined, and 43 shares are unchanged.
9:25 am Index losers: Technology and auto stocks are growing weak.
What Udayan tells you: Nifty to remain rangebound ahead of expiry
The market opened in positive territory. The Sensex is up 44.27 points at 19748.60 and the Nifty up 5.85 points at 5989.40.
RIL is big index gainer today as it gained 2.7 percent on the BSE. RIL on Friday announced a huge natural gas discovery , possibly the biggest find ever in KG-D6 block. RIL and its partner BP Plc of UK encountered 155 metres of gas pay zone in the first exploration well drilled on the block in more than five years.
Other major gainers include Bharti Aitel, Coal India, NTPC and HDFC Bank. Coal India will announce March quarter earnings today. A CNBC-TV18 poll, sees a flat topline growth at Rs 19,500 crore year on year. Profits may see 32 percent surge while lower employee expenses and higher volumes will aid margins.
Star of the day remains to be Britannia Industries which surged 13.36 percent, following stellar March quarter earnings. The bakery confectionery products manufacturer beat street estimates with its fourth quarter standalone net profit rising 65.7 percent year-on-year to Rs 87.8 crore on other income and better operational performance, despite an increase in tax expenses. Total income rose by 13.65 percent to Rs 1,502.4 crore in January-March quarter FY13 as against Rs 1,322 crore in a year ago period, which was in-line with expectations.
The Indian rupee opened lower at 55.77 per dollar versus 55.63 Friday.STOCK NSE BSE TIPS
Agam Gupta, Standard Chartered Bank said, "Exporters are looking to sell the dollar on uptick to 55.50-55.80/USD. For short-term cues, the rupee will track domestic equity market performance. The range for the day is seen between 55.55-55.95/USD."
Other companies which are expected to announce March quarter earnings are NALCO, GSPL, NBCC, Wockhardt, Ansal Properties, Bajaj Electrical, Bhushan Steel, DCM, Everest Kanto, Flexituff, Fresenius Kabi, Gabriel India, Jindal Saw, Jindal Stainless, Lakshmi Vilas, Mc Leod Russel, PAE, Peninsula Land, Ramky Infra, Rane Holding, Tata Chem, Tree House Education, Timken India, TTK healthcare, UB Engineering, Wheels India, Zenith Health.
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May 24, 2013, 09.49 AM IST
Tata Steel among preferred global steel cos: Morgan Stanley
The Indian steel industry should see
stronger volume growth than any other country over the next five years,
at around 8% a year, Morgan Stanley cites as the reason for its bullish
call on Tata Steel.
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The brokerage estimates the oversupply at roughly 334 million tonnes.
"Maturing developed economies and China's own economic transition mean global steel demand is likely to grow at just 3% a year for the next five years, down from 5% a year in the last ten. The bulk of overcapacities are in China and Europe, which make these our least preferred regions in which to invest," said the Morgan Stanley note to clients.
India is one of the three regions that Morgan Stanley is bullish on.
STOCK TRADING TIPS
"The Indian steel industry should see stronger volume growth than any other country over the next five years, at around 8% a year, on our forecast. New supply should match rising demand, the market remains well balanced and entry barriers remain high," the note said, mentioning Tata Steel as the top pick.
Tata Steel shares were up 5 percent at Rs 316, after the company's operating performance for the March quarter was better than expected, despite the massive loss in the bottomline because of the one-time impairment charge.
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May 23, 2013, 09.38 AM IST
BSE Sensex sinks below 20000, Ranbaxy down 4.8%
The Indian rupee slipped further on
Thursday hitting fresh six months low. The rupee opened at 55.84 per
dollar versus 55.47 from its previous close.
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9:30 am Buzzing: Ranbaxy Laboratories was quoting at Rs 410.45, down Rs 20.65, or 4.79 percent. Stung by the US FDA USD 500 million penalty , Japan's Daiichi Sankyo is exploring legal remedies to sue ex-Ranbaxy promoters. Daiichi says that certain former shareholders "misrepresented critical information".
On May 13, Ranbaxy , which was bought by Daiichi Sankyo in 2008, pleaded guilty to criminal charges of manufacturing and distributing certain adulterated drugs manufactured at its two Indian facilities of Paonta Sahib and Dewas, while agreeing to a USD 500-millon settlement.STOCK NSE BSE TIPS
9.29 am Market update: The Sensex is down 88.81 points at 19973.43, and the Nifty down 30.05 points at 6064.45.
Expert takes
Udayan: Global mkts mixed, eyes on SBI, BHEL,Tata Steel earnings
Mkt headed lower; time to sell in May and go away: Sukhani
The market has opened on a soft note following negative global cues. US markets ended lower on Wednesday after a volatile trading session after Fed chairman raised the possibility that it could at least slow its bond purchases and European markets ended higher.
Back home, at 09.15 hrs IST, the Sensex is down 97.99 points at 19964.25, and the Nifty down 38.50 points at 6056.00. About 82 shares have advanced, 194 shares declined, and 25 shares are unchanged.
HDFC, TCS, Infosys, ONGC and Dr Reddys Labs were major gainers in the Sensex.
Meanewhile, Bharti Airtel, Larsen, BHEL, M&M and Sterlite Industries were early losers.
The rupee slipped further on Thursday hitting fresh six months low. The rupee opened at 55.84 per dollar versus 55.47 from its previous close.
The State Bank of India (SBI) is likely to report 12 percent year-on-year fall in its fourth quarter (January March, FY13) net profit to Rs 3,568 crore on higher provisions against restructured loans and wage revisions. Net interest income or the difference between interest earned and paid out, is expected to fall marginally 2 percent y-o-y to Rs 11,510 crore, according to analysts estimate by CNBC TV18.
Other companies which are expected to announce March quarter earnings today are BHEL, Tata Steel, JSW Steel, Dish TV, IGL, OMDC, PTC India, Religare Ent, Triveni Turbines, Welcorp, NIIT, DCM Shriram Industries, Elecon Eng, Asian Hotel East, Hindustan Copper, JBF Auto, Kanoria Chem, Va Tech Wabag, Zee News, Shrenuj and Mukand Engineering.
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May 22, 2013, 09.12 AM IST
Indian rupee opens at lowest level since Jan 8
The Indian rupee opened higher at 55.38
per dollar Wednesday. According to Pramit Brahmbhatt of Alpari, the
range for the day is seen between 55.18-55.72/USD.
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Pramit Brahmbhatt of Alpari feels the rupee will continue to trade weak today. "However, good dollar inflows to the Indian market by FIIs could provide some respite," he added.
According to him, the range for the day is seen between 55.18-55.72/USD.
INDIAN STOCK MARKET TIPS
The euro rose to 1.29 level versus the dollar as the US Federal Reserve regional presidents suggested the central bank will continue its bond-buying scheme. The dollar index was around 83.70 level.
Also Read - 55.30/USD key level for rupee now: Moses Harding
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May 21, 2013, 09.09 AM IST
Indian rupee gains in early trade; trades at 54.96/dollar
The Indian rupee opened higher at 54.96
per dollar against 55.11 on Monday. According to Jayesh Mehta of Bank
of America, the range for the day is seen between 54.90-55.10/USD.
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Jayesh Mehta of Bank of America feels the rupee could appreciate to 54.90/USD due to mild weakness in the dollar.
"Also strong participation in the debt auction will impact the rupee positively and may temper the depreciation seen in the last few sessions," he added.
According to him, the range for the day is seen between 54.90-55.10/USD.
SURE FREE TIPS
The euro hovers around 1.28 to the dollar. The dollar index slipped below the 84 mark on Fed uncertainty. Focus is shifting to Bernanke's testimony to congress tomorrow after recent comments by Fed officials have fueled speculation the Central Bank may taper its bond purchases sooner than expected.
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May 20, 2013, 09.55 AM IST
BSE Sensex surges over 100 pts, metal stocks early gainers
The market opened on a positive note. Stock-specifically, ITC, Tata Motors, Coal India, BHEL and Dr Reddy’s Labs were the top gainers in the Sensex.
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9:53 am Market check: The Sensex is up 130.55 points at 20416.67, and the Niftyis 6220.55, up 33.25 points.
9:45 am News update: GSM industry body COAI plans to approach the Department of Telecommunications (DoT) in the "next few days" seeking cancellation of 19 licences awarded to Tata Teleservices over five years ago.
COAI is of the view that that the 19 licences awarded to Tata Teleservices (TTSL) on January 2008 stand cancelled as per the Supreme Court's February 2012 order. DoT had cancelled 122 licences following the apex court order.
9:43 am Midcap gainers: Coromandel International, Essar Oil, HMT, Ipca Labs, Shriram Cit, TataTeleservice are some of the early midcap gainers.
9:40 am IPO talk: The Rs 950 crore IPO of Justdial will open for subscription today, with a price band of Rs 470-543 a share.
Mumbai-based company, which provides search services over phone and web, will raise anywhere between Rs 822-950 crore depending on the final issue price. The issue will close on May 22, 2013.
Slide show: Sip of good health: 5 FMCG stocks for your portfolio
9:35 am Top gainers: Tata Motors, Coal India, ITC, Maruti Suzuki and Sterlite Industries are the key gainers in the Sensex.
9:30 am: BSE Metals index is up 1.2 percent.
9.25 am Market check: The Sensex is up 117.52 points at 20403.64, and the Nifty gains 30.85 points at 6218.15.
Experts take:
No asset class is risk-free: Axis Cap's Nandan Chakraborty
Focus on Nifty & IT; ignore banks: Sukhani
The market opened on a positive note. The Sensex was up 28.47 points at 20314.59, and the Nifty gained 10.70 points to be at 6198.00. About 236 shares have advanced, 113 shares declined, and 37 shares are unchanged.
Experts warn that investors may be a bit worried today as rating agency Standard & Poor’s affirmed its ‘triple B minus’ long-term and ‘A-3’ short-term unsolicited sovereign credit ratings on India and the the outlook on the long-term rating remain negative.
Stock-specifically, ITC, Tata Motors, Coal India, BHEL and Dr Reddy’s Labs were the top gainers in the Sensex.
Income Tax department has slapped a fresh Rs 577-crore tax demand notice on Infosys for 2009-10 assessment year, adding to the tax woes of India's second largest IT firm. The Bangalore-based software services exporter said that it is in process of seeking legal recourse against the fresh tax demand notice
STOCK MARKET FREE TIPS
The IT major is already contesting additional Income Tax demands of about Rs. 1,175 crore (USD 214 million) for four fiscals years beginning 2005. At 09:22 hrs Infosys was quoting at Rs 2,364.00, up Rs 13.20, or 0.56 percent.
Meanwhile, other technology stocks like Wipro, TCS were losers in the Sensex.
Companies that are expected to announce March quarter earnings are Adani Enterprise, Voltas, City Union Bank, India Cements, Apollo Hospital, Divis Lab, Hotal Leela, Shriram City Union, SREI Infra, Bayer Corp, Globus Spirits and PC Jewellers among others.
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May 17, 2013, 09.39 AM IST
BSE Sensex flat;JM Financial up 7% as Vikram Pandit buys 3%
BSE Sensex opened flat on the final trading day of this week. JM Financial surged close to 7 percent in the opening bell after the former chief executive officer of Citigroup Inc Vikram Pandit and Hari Aiyar announced to buy 1.5 percent stake in JM Financial through warrants
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Indian Rupee opens lower at 54.85 per dollar
Gold edges up, headed for worst week in a month
09:35 am Top gainers in the BSE Midcap (TTK Prestige Rs 3,583.00, 3.93%), State Bank of Travancore (Rs 568.00, 3.29%), Jaypee Infra (Rs 42.45, 3.03%), State Bank of Mysore (Rs 590.00, 2.44%) and HT Media (Rs 101.90, 2.21%)
MUST READ Ex-Citi boss Vikram Pandit to lead JM Fin banking foray
Stocks in news: ITC, JM Financial, ICICI Bank, HT Media
Key equity benchmarks opened flat on the final trading day of this week. JM Financial surged close to 7 percent after the former chief executive officer of Citigroup Inc Vikram Pandit and Hari Aiyar announced to buy 1.5 percent stake in JM Financial through warrants.
NSE BSE STOCK TIPS
Nimesh Kampani-promoted JM Financial Thursday sought to strengthen its case for a banking license by roping in former Citigroup CEO Vikram Pandit.
At 09.19 hrs IST, the Sensex is up 24.20 points or 0.12% at 20271.53, and the Nifty up 4.50 points or 0.07% at 6174.40. About 477 shares have advanced, 200 shares declined, and 40 shares are unchanged.
Key gainers in the Nifty were Jaiprakash Associates (Rs 81.75, 2.12%), Cairn India (Rs 301.90, 1.62%), UltraTech Cement (Rs 2,030.05, 1.36%), Ambuja Cements (Rs 188.90, 1.23%) and Infosys (Rs 2,357.55, 1.07%)
Laggards included (Dr Reddys Labs, Rs 2,086.20 1.55%), HDFC Bank (Rs 712.00, 1.49%), Lupin (Rs 796.95, 1.23%), HDFC (Rs 900.60, 0.85%) and Cipla (Rs 418.65, 0.82%)
The most active shares on NSE were Jaiprakash Associates (Rs 81.75, 3,571,692), SBI (Rs 2,398.55, 115,126), JM Financial (Rs 25.50, 10,573,917), ICICI Bank (Rs 1,210.05, 196,376) and United Spirits (Rs 2,343.55, 69,511)
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May 16, 2013, 09.12 AM IST
Indian Rupee opens at 54.74 per dollar
The Indian rupee opened marginally higher on Thursday at 54.74 per dollar as against 54.78 on Wednesday. According to Mohan Shenoi, Kotak Mahindra Bank, for the day the rupee is seen between 54.50-54.85/USD range.
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Mohan Shenoi, Kotak Mahindra Bank said, "Strong custodial flows are expected to support the rupee. Reduced gold imports due to restrictions on consignment is also a positive. However, dollar strength against other major currencies will be a STOCK TIPSdampener. The range for the day is seen between 54.50-54.85/USD."
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May 09, 2013, 10.07 AM IST
Rupee down on oil demand; seen rangebound
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The pair is seen holding in a range of 54.05 to 54.30 during the session.
Also read: Oil holds above $104, helped by higher China imports
Upside is likely to be capped as most Asian currencies trading positive versus the dollar. Domestic shares are flattish.
Risk sentiment broadly strong on the back of the Korean rate cut and encouraging global economic data.
Traders will now shift their focus to the consumer price index and industrial production data on Friday, which will be followed by wholesale inflation data on Monday, for near-term direction.
May 08, 2013, 09.43 AM IST
BSE Sensex up 50; Tata Motors, Lupin, DLF early gainers
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Foreign funds continued their buying spree in the Indian shares. Foreign institutional invetsor bought shares worth Rs 665 crore in cash on Tuesday, as per provisional data on the National Stock Exchange.
The Sensex was up 51 points at 19940 and the Nifty was up 12 points at 6055. About 525 shares advanced, 224 shares declined and 41 shares were unchanged.
Optimistic Ajay Srivastava, Ceo - Dimensions Consulting feels that Karnataka election results, which will be announced today will give some buoyancy to market. He expects the Indian equity market to give good returns in May and sees the Nifty touching the psychological 6100 mark anytime.
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Key gainers in the Nifty were Lupin, DLF, Hindalco, Tata Motors and Jaiprakash Associates.
Laggards included Mahindra and Mahindra, Ranbaxy Labs, Bajaj Auto, Bharti Airtel and Hero Motocorp.
Stocks in focus
Index heavyweights like HDFC, Lupin and Ranbaxy Labs will report their earnings today. In the midcap space, shares of SKS Microfinance, Corporation Bank, Piramal Life, Future Retail, Jubilant Industries, KEC International, Orient Paper, Talwalkar, Simplex Realty, Sudaram Clayton and Triveni Engineering will also announce their quarterly earnings.
Shares of Oracle Financial Services dropped more than 5 percent after promoters of the company announced plans to sell stake via offer for sale to meet shareholding norms of 75 percent. Oracle Global Mauritius holds 80.3% stake in the company.
UCO Bank disappointed the street with its quarterly earnings. The stock was down 3 percent after bank's net profit slumped by 75 percent to Rs 49.5 crore from Rs 253 crore a year earlier.
Dewan Housing Finance surged more than 6 percent as company's topline and bottomline shot up by more than 100 percent to Rs 1727 crore and Rs 197 crore respectively.
The Indian rupee opened with 8 paise gains at 54.05 per dollar on Wednesday as against previous day's closing of 54.13 per dollar. Himanshu Arora of Religare feels the rupee is likely to strengthen against the dollar on surging inflows.
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May 07, 2013, 09.37 AM IST
Nifty flirts with 6000; NTPC, RIL, Hero early gainers
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Jindal Steel, NTPC, RIL, Hero MotoCorp and Hindalco were the early gainers in the Sensex.
The broader markets too were gathering steam as BSE Midcap index was up 0.5 percent.
Emami surged 2.9 percent as its January-March quarter consolidated net profit stood at Rs 94 crore while net sales was Rs 451 crore.NIFTY TRADING TIPZ
After hitting new 52-week high on Monday, Finolex Industries surged another 6.4 percent today. It reported a strong set fourth quarter earnings. The profits of PVC-U pipe manufacturer surged 41 percent year-on-year to Rs 79.3 crore during the quarter due to drop in finance cost. The interest cost slipped to Rs 8.17 crore from Rs 19.36 cror, a year earlier.
Meanwhile, Coal India, HDFC and M&M were the major losers in the Sensex.
GSK Pharma, Glenmark Pharma and UCO Bank are expected to announce January- March earnings today.
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May 07, 2013, 09.06 AM IST
Indian Rupee opens flat at 54.18 per dollar
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The euro pulled back from Monday's high of 1.31 to the dollar. The dollar index was around 82.30 levels.STOCK TRADING
Pramit Brahmbhatt of Alpari feels the rupee is likely to trade weak today led by a weaker euro and dollar demand for oil and defence related payments.
"The range for the day is seen between 53.90-54.40/USD," he adds.
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May 06, 2013, 08.54 AM IST
India story on investment is just starting out: Chidambaram
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Addressing the First Business Session of ADB Annual Meeting here, he said many projects are plagued by "last mile" bottlenecks in fuel supply, environment clearance, forest clearance, and land acquisition and a Cabinet Committee on Investment (CCI) has been set up to fast track the projects. "We have permitted FDI in areas such as multi-brand retail, power exchanges, aviation and broadcasting," he said, adding "As I am fond of saying, India's story on investment is just starting out". The CCI has cleared several mega major projects, including those in the oil and natural gas sectors, which were stuck due to various regulatory clearances.STOCK TIPS NSE
Following liberalisation of the FDI policy in the aviation sector, Malaysian budget carrier AirAsia has joined hands with Tata Sons and Telestra Tradeplace to launch an airline in India. Chidambaram, who is also chairman of the ADB Board of Governors, said the government is determined to accelerate the pace of inclusive growth, while maintaining macroeconomic stability. "We are committed to fiscal consolidation. It will reverse the slippages that took place as a result of the stimulus packages (given in aftermath of global slowdown)," he said. The Finance Minister said the fiscal deficit as a proportion of GDP would be brought down to 3 per cent by 2016-17.
"This we will achieved by a prudent combination of revenue enhancement as well as expenditure rationalisation," he said, adding India was determined to boost investment both domestic as well as foreign. Referring to India-ADB engagement, Chidambaram said he was pleased to note that ADB is now embarking on supporting initiatives in skills development.
May 03, 2013, 09.13 AM IST
Indian rupee opens lower at 53.88 per dollar
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The euro slipped marginally, but still above 1.30 to the dollar. The dollar index is above 82.20 levels.
Back home, the Reserve Bank of India is going to announce its monetary policy today.STOCK TRADING TIPS
Sonal Varma of Nomura says RBI's macro report suggests that the probability of no Repo Rate cut today has risen.
"However, with both growth and WPI inflation slowing, the balance of risks continues to favour a gradual policy easing," Varma adds.
"We are sticking to our view of a 25 bps cut in the Repo rate and unchanged CRR."
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