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Despite the Fed not hiking rates, the gains in the Indian markets are likely to be capped today. Asian markets were mixed today after US flagged off concerns over global growth, particularly China. Overnight, the Wall Street also gave up gains to end lower.
Tata Steel will sell shares in automaker Tata Motors worth up to USD 188 million. The shares are being offered in an indicative range of Rs 324.50 to Rs 338.05 each, with the deal worth up to Rs 1250 crore, the terms showed. The lowest price in the range represents a discount of up to 4 percent to their September 16 close of Rs 338.05.
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The S&P BSE Sensex rallied over 300 points on Friday, after the US Federal Reserve held off raising interest rates. The rally in the index was led by gains in HDFC, ICICI Bank, Infosys, Axis Bank, and HDFC Bank.The 50-share Nifty index reclaimed its crucial psychological level of 7950, supported by gains in banks, metal, FMCG, and realty stocks.
India's rupee, stocks and bonds gained on Friday on rising expectations the Reserve Bank of India will have scope to cut key lending rate later this month now that the U.S. Federal Reserve has kept its interest rates unchanged.The Fed on Thursday cited worries about the global economy as a key factor compelling it to keep its monetary policy unchanged for now.
Traders had feared a rate hike on Thursday would have sparked volatility in emerging markets and kept the RBI from cutting the repo rate for a fourth time this year at its policy review on Sept. 29.
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Indian shares are likely to surge at open, following a Wall Street rally overnight, as markets go into a crucial Federal Reserve monetary policy meeting with expectations the Fed won't hike interest rates. In Singapore trading, the SGX Nifty was trading up 73.50 points, or nearly 1 percent, to 7,896 level at 7:45 am today.
Indian markets are likely to remain volatile today ahead of the US Fed rate decision on Thursday. Indian markets will be closed on Thursday for a holiday.After the Fed rate decision the next trigger for markets would be the Reserve Bank of India policy review on September 29. Most analysts say that if the Fed rate decision does not trigger a turmoil in global markets, the RBI may cut rates by at least 25 bps.
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The S&P BSE Sensex surged over 200 points in trade on Wednesday tracking positive trend seen in other Asian markets. The rally in the index was led by gains in Sun Pharama, ICICI Bank, HDFC, HDFC Bank, and TCS.The 50-share Nifty index also reclaimed its crucial psychological level of 7,850, supported by gains in metal, realty, IT, banks, and Pharma stocks.
Orchid Chemical gained over 4 per cent while Vedanta added over 4 per cent. Arvind Infra surged 5 per cent while Sun Pharma was up over 2 per cent. TVS Motor was up over 2 per cent.
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The market has opened marginally lower in early trade on profit booking after yesterday's rally. The Sensex declined 36.53 points to 25820.17 and the Nifty fell 20.40 points to 7851.85. About 361 shares have advanced, 292 shares declined, and 28 shares are unchanged on the BSE.
The government on Monday imposed a 20 per cent safeguard import tax on some steel products with immediate effect. This is likely to bring steel stocks like Tata Steel and JSW steel in focus.
Analysts also remain worried over selling from foreign investors though it has eased in recent sessions. Foreign investors sold a record Rs 16,877 crore worth of domestic stocks in August. Foreign investors bought (net) Indian shares worth Rs 58.75 in cash market on Monday - their first single-day net purchase so far this month.
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The S&P BSE Sensex started on a cautious note on Tuesday following muted trend seen in other Asian markets. The fall in the index was led by losses in M&M, Vedanta, Bharti Airtel, Hero MotoCorp, and HDFC.The 50-share Nifty index was trading around its crucial psychological level of 7,850, weighed down by losses in banks, power and IT related stocks.
India's inflation dived to a new low in August, helped by falling global commodity prices, bolstering prospects of an interest rate cut by the central bank later this month.India's Housing Development Finance Corp plans to raise atleast 10 billion rupees selling bonds maturing in five years,three merchant bankers said on Monday. The company will pay an annual coupon of 8.65 percent on the notes.
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The market has opened flat on Monday. The Sensex is down 30.66 points at 25579.55 and the Nifty is down 13.00 points at 7776.30. About 429 shares have advanced, 204 shares declined, and 34 shares are unchanged. Tata Steel, Wipro, Sun Pharma, TCS and HUL are top gainers while ICICI Bank, Infosys, Reliance, Vedanta and HDFC are early losers.
Sun Phrama rises 1.4 per cent to hit high of Rs 858 after Taro Keveyis drug at a high price $163.8/tablet implying annual cost of $120,000 per patient. Size of the drug depends on how many patients shift to Keveyis, every 1,000 patients shifting to Keveyis will add $120 million to gross sales. Keveyis is used to treat periodic paralysis.
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The S&P BSE Sensex turned flat after rallying as much as 95 points in trade on Monday, led by losses in ICICI Bank, Infosys, HDFC, ONGC, and Coal India.
The 50-share Nifty index pared gains after reclaiming its crucial psychological level of 7800, weighed down by losses in FMCG, consumer durable, banks and realty stocks. Just Dial gained over 3 per cent while L%T Finance Holding added 5 per cent. Amtek Auto rallied 18 per cent while Kesoram Inds surged over 7 per cent. Man Infra and Just Dial gained over 3 per cent each.
India's inflation probably cooled further in August, data on Monday is expected to show, adding pressure on its cautious central bank to cut interest rates again as soon as this month to spur economic growth.India's current account deficit widened to $6.2 billion,or 1.2 percent of gross domestic product, in April-June from the previous quarter, reflecting the worsening global economy as exports were sluggish while foreign investments fell.
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The market rebounded in early trade with the Sensex rising 194.75 points to 25816.92 and the Nifty climbing 56.75 points to 7844.85. Technology, healthcare, oil and select banking & financials stocks drove the market higher. SBI, Axis Bank, ONGC, Vedanta, M&M and YES Bank topped the buying list, rising 1-2 percent. However, GAIL, ICICI Bank, Tata Motors, Bosch and BHEL were marginally in red.
The gains in the Indian markets were broad-based with all the BSE sectoral indices trading in the green. The breadth of the market was strong with the BSE midcap and smallcap indices rising nearly 1 per cent. Banking, auto, realty, and oil & gas stocks were among the outperformers.
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BSE benchmark Sensex opened nearly 200 points higher on Friday ahead of the July factory output numbers scheduled for release later in the day. The market bounced taking cues from gains in the US market, while most of the Asian markets traded mixed.
NSE barometer Nifty breached its crucial psychological mark of 7,800 and traded at 7,854, up 65 points, or 0.84 per cent.India's NTPC Ltd. is likely to launch its public issue of tax-free bonds on Sep. 23, three merchant bankers said on Thursday. The company may look to issue bonds maturing in 10 years, 15 years and 20 years and can raise upto 7.00 billion rupees, which is its maximum permissible limit.
India's L&T FinCorp Ltd. has raised 1 billion rupees selling subordinated bonds maturing in 10 years, three merchant bankers said. The non-banking finance company will offer an annual coupon of 9.25 percent to investors of these bonds.
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After a two-day monstrous rally, BSE Sensex and Nifty were sharply lower on Thursday, tracking weak Asian stocks. The Sensex fell over 400 points while Nifty slumped below 7,700 levels. Rupee also fell today, hurting the sentiment in stock markets.
The market has opened with a sharp loss following weak global markets. The Sensex is down 335.92 points or 1.3 percent at 25383.66 and the Nifty is down 106.55 points or 1.4 percent at 7712.05. About 129 shares have advanced, 692 shares declined, and 24 shares are unchanged. Hindalco, Vedanta, ONGC, BHEL and SBI are major losers while there is no green stock in the Sensex.
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The S&P BSE Sensex slipped over 400 points in trade on Thursday tracking muted trend seen in other Asian markets amid weak global cues. The fall in the index was led by losses in ICICI Bank, RIL, HDFC, ITC and L&T.Asian markets were trading with a negative bias after Standard & Poor's downgraded Brazil's credit rating to junk grade earlier today, and slashed its growth forecast for Asian economies.
India's Srei Equipment Finance Ltd plans to raise at least 1.50 billion rupees through sale of three bonds issues,three merchant bankers said on Wednesday. The company will issue bonds maturing in five years and seven months at an annual coupon of 10.30 percent. It will also issue papers maturing in seven years and seven months and 10 years at a coupon of 10.40 percent and 10.50 percent respectively.
Supported majorly by banks and auto, the market ended with gains. The Sensex was up 401.71 points or 1.6 percent at 25719.58 and the Nifty gained 130.35 points or 1.7 percent at 7818.60. About 1975 shares advanced, 718 shares declined and 108 shares were unchanged. Hindalco, Vedanta, NTPC, Tata Steel and Tata Motors were top gainers in the Sensex. Among the losers were Sun Pharma and GAIL.
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Domestic institutional investors have been buyers of stocks despite the selloff from foreign investors, helping to provide some support to Indian markets. On Tuesday, they bought shares worth nearly Rs 450 crore. Despite Sensex and Nifty losing over 6 per cent in August, investments into Indian mutual funds surged in August from July, signalling the continued retail support for equities despite a deteriorating outlook. Investments into equity mutual funds rose 63 per cent to Rs 9,625 crore last month from July, marking a 16th consecutive month of inflows.
India's L&T Metro Rail Hyderabad Ltd. plans to raise 2.50 billion rupees through an issue of bonds maturing in 20
years, three merchant bankers said. The company, a special purpose vehicle set up by Larsen & Toubro Ltd. for the Hyderabad rail project, is in talks with merchant bankers to set the coupon onthe bond issue.
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Indian markets are expected to trade higher on Wednesday following positive trend seen in other Asian markets.
The S&P BSE Sensex surged over 400 points in opening trade on Wednesday in step with the upswing in Asian markets, which were trading higher on expectations that China would announce more stimulus measures to support the economy after weak trade data.
India's Hero Cycles Ltd. has raised 1 billion rupeesselling three bonds, the first one maturing in two years, 10 months and 20 days and the other two maturing in four years and five years respectively, three merchant bankers said on Tuesday.The cycle manufacturing company will offer an annual coupon of 9.20 percent on the three bonds, they added.
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The S&P BSE Sensex surged over 100 points in trade on Tuesday to reclaim its crucial psychological level of 25,000, led by gains in HDFC, HDFC Bank, ICICI Bank, Axis Bank and Tata Motors. The 50-share Nifty index managed to build momentum and was trading near its next crucial level of 7,600. The rally in the index was supported by gains in banking, metals, realty, and auto stocks.
India's Godrej Agrovet Ltd. plans to raise 740 million rupees selling bonds maturing in 15 months, three merchant bankers said on Monday. The company will pay a coupon of 8.63 percent to investors of the issueIndia's current account and balance of payments data due during the week. There is no fixed date and time for the release.
Just after a slight uptick, the market soon turned flat. The Sensex is down 35.81 points or 0.1 percent at 24858.00, and the Nifty is down 13.35 points or 0.2 percent at 7545.45. About 419 shares have advanced, 388 shares declined, and 34 shares are unchanged. GAIL, HDFC, Tata Steel, Tata Motors and NTPC are top gainers in the Sensex. Among the losers are Lupin, Vedanta, Dr Reddy's Labs, Cipla and HUL are among losers.
Analysts say that Indian markets are likely to remain volatile till the crucial US Fed meet, which is scheduled for September 16-17. An interest rate hike in the US could accelerate the selling from foreign investors who would like to park their money in US bonds.
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The S&P BSE Sensex surged over 150 points in trade on Monday, despite muted trend seen in other Asian markets. The rally in the index was led by gains in Tata Motors, ITC, HDFC Bank, Infosys and Cipla.
The 50-share Nifty index also pared gains after rallying to its intraday high of 7,693.20, but was still trading with a positive bias, above its crucial psychological level of 7,650, supported by gains in auto, banks, consumer durable and pharma stocks.
India's Aadhar Housing Finance Ltd. has raised 100 million rupees through an issue of bonds maturing in seven years, three merchant bankers said on Friday. The housing finance company will pay an annual coupon of 9.80 percent to investors of these notes.
The Sensex is up 106.48 points or 0.4 percent at 25308.38 and the Nifty gains 42.15 points or 0.5 percent at 7697.20. About 717 shares have advanced, 420 shares declined, and 48 shares are unchanged. Tata Motors, HDFC, Cipla, Vedanta and Tata Steel are top gainers while Bharti, GAIL, M&M, Wipro and ICICI Bank are laggards in the Sensex.
Indian markets are likely to remain volatile till the crucial US Fed meet which is scheduled for September 16-17. An interest rate hike in the US could accelerate the selling from foreign investors who would like to park their money in US bonds.
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The S&P BSE Sensex plunged over 400 points in trade on Friday tracking muted trend seen in other Asian markets. The fall in the index was led by losses in HDFC, HDFC Bank, ICICI bank, and Axis Bank.The 50-share Nifty index slipped below its crucial psychological support level of 7,700, and was now trading around its next crucial level of 7,750, weighed down by losses in auto, banks, metal, and realty stocks.
Arvind gains 2 pct vs 1 pct fall in NSE index.Credit Suisse starts at "outperform".Says Arvind is a 'go-to' partner for international brands.Adds the scope for growth for large brands, better use of capital and assets should fuel its financials.Stock has 10 buy and 2 hold ratings - Eikon data.The market has started to slip. The Sensex is down 223.05 points or 09 percent at 25541.73 and the Nifty slips 74.35 points or 0.9 percent at 7748.65. About 284 shares have advanced, 791 shares declined, and 33 shares are unchanged.
Asian markets were mostly lower today with Japan's Nikkei slumping over 2 per cent. China markets remain closed today for a holiday.2 Emerging market currencies and equities could face more pressure if the US payrolls data boost expectations that the Federal Reserve is on course to raise interest rates later this year.
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The market has started off Thursday's session on a strong note, led by short covering following weakness in previous three consecutive sessions. The 30-share BSE Sensex rallied 161.13 points or 0.63 percent to 25,614.69 and the 50-share NSE Nifty climbed 56.85 or 0.74 percent to 7,773.85. ICICI Bank, HDFC Bank, L&T, Infosys and HDFC are leading contributors to Nifty.
The S&P BSE Sensex surged over 150 points in trade on Thursday following positive trend in Asian markets. The rally in the index was led by gains in Infosys, ICICI Bank, L&T, RIL and Sun Pharma.The 50-share Nifty index reclaimed its crucial psychological level of 7,750 supported by gains in capital goods, pharma, IT, banks, oil & gas and realty stocks.
FIIs sold index futures worth 17.9 bln rupees ($270.17 mln) on Wednesday, marking their biggest one day sales in nearly 1-1/2 week.Create short position in NSE index and NSE bank index futures.NSE bank index futures add nearly 40 pct in open positions since August expiry.Continued worries over bad loans, new base rate guidelines and HDFC Bank's aggressive rate cut led to recent falls in bank shares.A negative close would mean higher chances of further falls.Asian markets were mostly higher today with Japan's Nikkei rising 1.4 per cent. Chinese share markets are closed today for a holiday.
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The S&P BSE Sensex surged over 200 points in trade on Wednesday despite muted trend seen in other Asian markets. The rally in the index was led by gains in ICICI Bank, HDFC, ITC, Infosys and Sun Pharma.The 50-share Nifty index managed to reclaim its crucial psychological level of 7850, supported by gains in Pharma, IT, auto, banks, capital goods, and realty stocks.
National Highways Authority of India Ltd. plans to raise funds through a private placement of tax-free bonds this week,three merchant bankers told Newsrise on Tuesday. The company will look to issue bonds with 10-year, 15-year and 20-year maturities and is likely to invite commitment bids on Wednesday.
After sharp cuts yesterday, the market has opened higher. The Sensex is up 148.78 points or 0.6 percent at 25845.22 and the Nifty is up 44.20 points or 0.6 percent at 7830.05. About 570 shares have advanced, 135 shares declined, and 34 shares are unchanged. Lupin, Axis Bank, ICICI Bank, Sun Pharma and Hindalco are top gainers in the Sensex.Among the losers are Hero, ONGC, Bajaj Auto, NTPC and Tata Motors.
The government last evening announced the waiver of imposition of a minimum alternative tax on foreign funds for the period prior to April 1, 2015. Finance Minister Arun Jaitley said the government had accepted the recommendations of a panel set up to examine the issue, and said he would make the change permanent through legislation in the next Parliament session.
Despite the Fed not hiking rates, the gains in the Indian markets are likely to be capped today. Asian markets were mixed today after US flagged off concerns over global growth, particularly China. Overnight, the Wall Street also gave up gains to end lower.
