Latest Today Stock Market Headlines for 9 June 2016

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• Sensex falls over 150 pts, Nifty breaks 8250; IT, FMCG drag 
• Infosys warns of 200 bps Q1 margin cut on visa, salary costs 
• Mohandas Pai: Why TN allowing unions for IT cos is bad news 
• Read and watch: Speech of PM Modi in US Congress 
• GST Bill: Govt puts ball in Amit Mitra’s court 
• GST passage, no Brexit vote to propel mkt to 8700-8800: PL 
• India inflation likely edged up to 5.52 % in May: Poll 
• Infosys dives 4% on cautious stance over cost hurting margins 
• Annual report review: CLSA retains underperform rating on HUL 
• Jefferies ups BEL target on defence patents, R&D spend, capex 
• Combined net sales of 2,900 cos slip 1.3% in Q4: Care Ratings 
• Extradition only way to bring Mallya back, Govt working on it 
• After turning profitable, Pricol eyes Rs 3,000cr revenue by 2020 
• Dholera smart city to be operational by 2019: Gujarat govt 
• Modi, Jaitley to take call on Rajan at appropriate time: Sinha 
• India could be ‘ideal partner’ for American businesses: PM 
• RBI leaves repo rate unchanged at 6.5% Distress in financial system is making Yellen stay put 
• Timely and reliable guidance from the expert himself 
• RBI running out of ammo to fire up economy, banks.

BSE Institute announces launch of new zone for startups

BSE Institute Ltd, a wholly owned subsidiary of BSE Ltd, announced the launch of a new accelerator for startups. This accelerator is housed in the iconic P.J.Towers the home of BSE, Asia’s oldest and the world’s fastest stock exchange. This has been setup as a technology based incubator under the National Science & Technology Entrepreneurship Development Board (NSTEDB), Department of Science & Technology, Government of India. Zone Startups India is the only stand-alone accelerator programme in India to be accredited this support.

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The market has opened flat on Friday. The Sensex is up 36.26 points or 0.1 percent at 24374.69 and the Nifty is up 14.25 points or 0.2 percent at 7418.25. About 283 shares have advanced, 136 shares declined, and 36 shares are unchanged. Tata Steel, ONGC, Wipro, Coal India and NTPC are top losers while Tata Motors, Cipla, Sun Pharma, ITC and Axis Bank are top gainers in the Sensex.

Indian markets are set to open on a flat note tracking mixed cues and flat trading of Nifty futures on the Singapore Stock Exchange.The Nifty futures traded on the Singapore Stock Exchange, also known as the SGX Nifty was down 0.05 per cent or 4 points at 7,441.

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The S&P BSE Sensex started flat but was trading with a positive bias in morning trade on Friday, led by gains in ICICI Bank, ITC, Sun Pharma, and HDFC.The Nifty50 was trading above its crucial support level of 7400, supported by gains in banks, consumer durable, auto, capital goods, and FMCG stocks. 

The BSE Sensex rose on Thursday, snapping a three-session losing streak, in line with global markets as speculation U.S. interest rates may not rise at all this year left the dollar nursing hefty losses and oil held most of the previous day's big gains.The broader Nifty ended 0.57 percent higher, while the benchmark Sensex gained 0.48 percent.

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The market rebounded in early trade Thursday after losing nearly 700 points on the Sensex in previous three consecutive sessions. The Sensex rose 165.59 points to 24388.91 and the Nifty climbed 49.65 points to 7411.45. ONGC, SBI, Tata Motors, Bharti Airtel, Axis Bank, Bank of Baroda and Idea Cellular were early gainers, up 1.5-3 percent. 

Sensex and Nifty are set to open higher tracking firm global cues and positive trading of Nifty futures on the Singapore Stock Exchange.The Nifty futures traded on the Singapore Stock Exchange, also known as the SGX Nifty was up 0.87 per cent or 54 points at 7,433.

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The S&P BSE Sensex plunged as much as 276 points in morning trade on Wednesday, led by losses in ICICI Bank, RIL, HDFC Bank, Infosys and SBI.The Nifty50 slipped below its crucial psychological level of 7,400 in trade weighed down by losses in realty, power, oil & gas, capital goods, and banking stocks. 

India's broader NSE index was trading down 0.2 percent in a volatile session on Tuesday, but bank stocks rose on bargain hunting in the beaten-down sector after the central bank left key rates unchanged, as widely expected.

The Reserve Bank of India kept its policy rate on hold at 6.75 percent, opting to wait until after the government's annual budget statement end-February to decide on whether to cut interest rates further.

RBI leaves repo rate, CRR, SLR unchanged

As expected by economists, the Reserve Bank of India (RBI) today left the key repo rate unchanged at 6.75 percent, saying it would want to wait for more inflation data and the Union Budget before taking action, even as it said it would continue to remain "accommodative". It also left the cash reserve ratio and statutory liquidity ratio unchanged, despite concerns that liquidity is tight in the system. In its monetary policy statement, the Reserve Bank said the Indian economy was prodding along well, but said it would take into consideration steps taken in the Budget that would boost growth while keeping inflation in check. 

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The S&P BSE Sensex started flat in morning trade on Tuesday ahead of RBI policy review, led by gains in Infosys, Tata Motors, Sun Pharma, L&T, and HDFC Bank.The Nifty50 was trading above its crucial psychological level of 7550, supported by gains in consumer durable, capital goods, auto, and realty stocks. 

Traders said investors also drew comfort from the Bank of Japan's unexpected stimulus measures, which had sent Asian shares including in India rallying.But broader gains were capped ahead of the Reserve Bank of India's policy review on Tuesday. Most analysts expect the central bank to leave its key interest rate on hold.

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The S&P BSE Sensex pared gains and turned negative after reclaiming its crucial psychological level of 25,000 in morning trade on Monday, led by gains in L&T, Sun Pharma, HDFC Bank, Lupin, and Bharti Airtel.The Nifty50 came under some selling pressure after hitting an intraday high of 7,592.32, weighed down by losses in oil & gas, metal, auto, and consumer durable stocks. The index was still trading above its crucial support level of 7,550. 

Indian stocks rose nearly 2 percent on Friday, posting their first weekly gain in four, as a rebound in commodity prices and Bank of Japan's bold move to adopt negative interest rates ended a tough month for markets with a flourish.

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The market has opened volatile on first day of February series but immediately gained strength. The Sensex rose 122.59 points to 24592.16 and the Nifty climbed 45.50 points to 7470.15. ONGC, ITC, Coal India, HDFC, Bharti Airtel, Vedanta, Cairn India and Kotak Mahindra Bank rallied 1.8-4 percent while ICICI Bank tanked 5 percent. Maruti Suzuki, Axis Bank, Tata Motors and Dr Reddy's Labs lost ground. 
Asian shares got off to a tentative start on Friday after oil cobbled together a third session of gains and markets wagered U.S. interest rates would not be rising much this year, if at all.

Speculation is also rife the Bank of Japan will have to add yet more stimulus, though many doubt it will come at Friday's first policy meeting of the year.

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The S&P BSE Sensex surged over 100 points in trade on Friday, led by gains in ITC, HDFC, Sun Pharma, HDFC Bank, Infosys, and TCS. The Nifty50 managed to surge past its crucial psychological level of 7450, supported by gains in oil & gas, metal, consumer durable, and IT stocks. Shares of ICICI Bank tumbled over 5 per cent as the private lender reported increase in its asset quality issues. Maruti Suzuki, too, saw its shares dip about 3 per cent after Q3 numbers. 

India's stock markets ended slightly lower on Thursday after short-covering tied to the expiry of derivatives lifted some shares, while broader gains were capped after the U.S. Federal Reserve kept open the prospect of more rate hikes this year.

Govt may re-impose customs duty on crude oil imports

With international oil prices slumping to 12-year low, the government may look at reimposing 5 percent customs duty on crude oil imports to shore up revenue by close to Rs 18,000 crore. The government had cut customs duty on crude oil imports to zero from 5 percent in June 2011 when rates zoomed to over USD 100 per barrel. But with oil prices hovering at USD 30 a barrel now, the duty may be back, official sources said.

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The market has opened marginally lower ahead of expiry of January derivative contracts. The 30-share BSE Sensex fell 5.68 points to 24486.71 and the 50-share NSE Nifty declined 3.45 points to 7434.30. ICICI Bank, GAIL, Lupin, Adani Ports, NTPC, Power Grid Corporation, Cairn India and Vedanta were early gainers while losers were HDFC, Bharti Airtel, Maruti Suzuki, L&T, Sun Pharma, Asian Paints, Coal India and NTPC.

A bounce in oil prices offered some salve to strained nerves. While Brent crude was off 23 cents at $32.87 a barrel, this followed a 4 per cent jump on Wednesday after Russia hinted at co-operation with OPEC on oversupply.

Bharat Electronics Q3 Profit Up 9%, Revenue Misses Estimates

State-owned aerospace and defence company Bharat Electronics   reported mixed set of earnings in third quarter of FY16. Profit matched analysts' estimates, rising 8.8 percent year-on-year to Rs 296 crore during the quarter supported by other income, but revenue missed expectations. Total income from operations declined 5.7 percent to Rs 1,517.2 crore in Q3 compared to Rs 1,608.2 crore in corresponding quarter of last fiscal, the company said in its filing, adding other income grew by 19.4 percent to Rs 135.5 crore from Rs 113.5 crore in same period.

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The market has opened higher on Wednesday as the Sensex is up 109.45 points or 0.4 percent at 24595.40. The Nifty is up 38.25 points or 0.5 percent at 7474.40. About 504 shares have advanced, 124 shares declined, and 29 shares are unchanged. Tata Motors, Sun Pharma, Axis Bank, Maruti and Bajaj Auto are top gainers in the Sensex. Among losers are GAIL and TCS.

Selling pressure was visible in banking, metal, oil & gas, capital goods and FMCG stocks. On the other hand, some amount of buying was seen in power, realty and healthcare stocks.Mid-cap stocks were also facing selling pressure. The BSE mid-cap index fell 0.08 per cent.

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The S&P BSE Sensex rallied over 200 points in morning trade on Monday led by gains in ICICI Bank, SBI, Tata Motors, HDFC Bank, and Infosys.The Nifty50 scaled above its crucial level of 7,450 supported by gains in metal, capital goods, oil & gas, realty, and power stocks. 

A recovery in crude oil prices also helped support investors' sentiment. Oil rose 5 percent on Friday to trade above the $30 a barrel mark as bouts of cold weather in the United States and Europe boosted hopes of higher demand.

Global & Oil Rebound Lift Sensex 473 pts, Nifty above 7400

The market snapped two-day losses on Friday. The Sensex rallied 473.45 points or 1.98 percent to 24435.66 and the Nifty surged 145.65 points or 2 percent to 7422.45, tracking global rally and oil rebound. The BSE Midcap index gained 1.9 percent and Smallcap surged 2.25 percent. More than three shares advanced for every share declining on the Bombay Stock Exchange.

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The market opened on a confident note Friday. The Sensex is up 218.34 points or 0.9 percent at 24180.55 and the Nifty is up 78.90 points or 1 percent at 7355.70. About 488 shares have advanced, 69 shares declined, and 24 shares are unchanged. BHEL, Axis Bank, Axis Bank, ICICI Bank, Tata Steel and Hindalco are top gainers in the Sensex. InterGlobe Aviation is down 6 percent while Idea slips 3 percent post December quarter results.

Gains in the market were led by banking, auto, metal and energy shares, which advanced over 1 per cent each. In the Nifty index Bank of Baroda was the top gainer in the Nifty rising nearly 3 per cent followed by ICICI Bank and Hindalco Industries.

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The S&P BSE Sensex surged over 200 points in morning trade on Friday following Asian markets which were trading higher as crude oil prices rebounded and comments by European Central Bank (ECB) President Mario Draghi fuelled hopes of more stimulus for Europe.The rally in the index was led by gains in ICICI Bank, RILBSE 1.59 %, Infosys, L&T, Axis Bank BSE 2.56 %, and Maruti Suzuki.

The benchmark BSE Sensex ended 0.41 percent lower at 23,962.21, its lowest close since May 15, 2014.The broader Nifty ended 0.44 percent lower at 7,276.80, its lowest close since May 30, 2014.

Bottom difficult to call; mkt at attractive level: Alchemy Cap

Indian market is trading at an attractive level for long-term investors, is the word coming in from Hiren Ved of Alchemy Capital Management. Further, he feels it will take a while for the market to bottom out. Going against the tide and the capitulating fall seen in the markets on Wednesday, he told HNIs to add to their investments and while a bottom may be difficult to call, 12- months down the line, investors will be glad they bought at these levels.

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