Tuesday, 19 January 2016
IMF cuts FY16 world GDP target to 3.4%, maintains India outlook
The International Monetary Fund cut its global economic growth forecast for 2016 on Tuesday as it expects a number of factors to weigh on world economies. Global growth for this year is seen at 3.4 percent, up from a 3.1 percent forecast for 2015, but 0.2 percent lower than previously forecast, the IMF's World Economic Outlook report said.
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The market bounced back on Tuesday despite mixed Asian cues. The 30-share BSE Sensex rose 106.84 points to 24295.21 and the 50-share NSE Nifty went up 37.70 points to 7388.70. Axis Bank, ICICI Bank, Reliance Industries, NTPC, Adani Ports, Tata Steel and Bank of Baroda gained more than 1 percent while Cipla, Coal India, TCS, ITC, ONGC, Zee Entertainment, M&M, Cairn India and Grasim were losers.
Indian markets are likely to open higher on Tuesday tracking gains in other Asian markets, which reacted positively to China's fourth-quarter GDP numbers. Nifty futures trading on Singapore Stock Exchange is up 21 points at 7,380.
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The S&P BSE Sensex surged over 100 points in morning trade on Tuesday, led by gains in Infosys, ICICI Bank, RIL, Axis Bank, HDFC, and Tata MotorsBSE 1.96 %. The Nifty50 was trading close to its resistance level of 7,400, supported by gains in pharma, IT, realty, auto, and FMCG stocks.
Indian stocks posted their lowest close in 20 months on Monday, dragged down by index heavyweight Reliance Industries after crude oil fell to its lowest since 2003, while data showed the country's exports shrunk for a 13th straight month.
Monday, 18 January 2016
Sensex, Nifty end at near 20-month closing low; BHEL outperforms
The market has ended at nearly 20-month closing low. The Sensex slipped 266.67 points or 1 percent at 24188.37 and the Nifty was down 86.80 points or 1 percent at 7351. About 333 shares have advanced, 2389 shares declined, and 142 shares were unchanged. BHEL, Tata Steel, Adani Ports, TCS and HUL were top gainers while Reliance, Bajaj Auto, Cipla, L&T and SBI were major losers.
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Mid, smallcaps worrying; 7200 strong support for Nifty
The stock market is witnessing mayhem because of global turmoil and over-buying in midcaps and smallcaps,7200 as a strong support level for the Nifty. On HDFC Bank the market capitalisation is now equal to the entire PSU banks market capitalisation. a lot of global factors are definitely pointing at emerging market selling, emerging market growth completely slowing down, maybe impacting global markets, global market bonds having some issues because of the oil and commodity bonds within that and so on and so forth, but, there is no catastrophic event which is actually happened.
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The market has opened flat as the Sensex is down 16.96 points at 24438.08. The Nifty slips 12.50 points at 7425.30. About 225 shares have advanced, 417 shares declined, and 61 shares are unchanged. ICICI Bank, Maruti, SBI, Sun Pharma and L&T are top gainers while Adani Ports, Wipro, ONGC, Hindalco and BHEL are losers in the Sensex.
The BSE Sensex fell over 50 points to 24,348.80 and the 50-shares Nifty shed over 30 points to 7,405.80. Wipro, which reported lower than estimated earnings for the third quarter fell over 2 per cent to Rs 530.70.
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The S&P BSE Sensex slipped over 100 points in morning trade on Monday, led by losses in L&T, HDFC Bank, Maruti Suzuki, and Bajaj Auto. WHAT TOP EXPERTS ARE SAYING: Sensex may rise as much as 25% in 2016 & will gain on earnings recovery, lower interest rate.
Indian stocks ended lower for a second straight week and fell over 1 percent on Friday, posting their biggest one-day percentage fall in over a week, in a late sell-off triggered by crude oil prices that fell below $30 a barrel.The broader Nifty ended 1.31 percent lower, its biggest single-day loss since Jan. 7. The index has lost 2.15 percent for the week.The benchmark Sensex ended 1.28 percent lower, shedding 1.92 percent during the week.
Friday, 15 January 2016
Results on HUL Q3 Disappoints Net Down 22% on Provision; Volume Growth 6%
Hindustan Unilever's October-December quarter earnings disappointed analysts on Friday with profit sinking 22.4 percent year-on-year to Rs 971 crore despite lower raw material prices. Exceptional loss, slow revenue growth and lower other income hurt profitability.
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Suzlon Energy gains 4%
Shares of Suzlon Energy gained 4.5 percent intraday Friday as it has received additional sanction of working capital lines of Rs 2300 crore. The sanction of this working capital is to meet requirements for execution of sizable order backlog and pipeline. This will enable Suzlon to scale up the volumes. The additional working capital sanctions are over and above the existing working capital facilities of Rs 4300 crore, as per BSE release.
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The market breadth was strong as about four shares advanced for every share declining on the Bombay Stock Exchange. The BSE Midcap gained 0.5 percent and Smallcap rose 0.7 percent. Infosys, Dr Reddy's Labs, Tata Steel, Maruti Suzuki, Hindalco, Vedanta and Idea Cellular gained 1-2 percent while ONGC, Tata Motors, Larsen & Toubro, ITC, HDFC Bank, HCL Technologies and Kotak Mahindra Bank were losers in early trade. The Indian rupee slipped in the early trade today. It opened lower by 6 paise at 67.35 per dollar versus 67.29 Thursday.
Infosys cheered investors with a forecast-beating quarterly profit and a stronger sales growth outlook, as India's second-largest software services exporter regains market share from rivals by sharpening its focus on high-margin services.
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The S&P BSE Sensex started on a flattish note in morning trade on Friday with a positive bias, led by gains in Infosys, RIL, Maruti, Axis Bank, and Sun Pharma.The Nifty50 was trading around its crucial psychological level of 7550, supported by gains in realty, power, oil & gas, metal, capital goods, and auto stocks.
Indian stocks fell on Thursday in a highly volatile day, where the BSE index swung about 545 points, as stocks mirrored falls in Asia and Europe while better-than-expected earnings from Infosys helped cushion losses.The broader NSE index ended 0.34 percent lower after rising as much as 0.56 percent earlier in the day. The index fell as much as 1.57 percent earlier.
Thursday, 14 January 2016
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The market has opened sharply lower following global turmoil after crude fell below USD 30 a barrel. The 30-share BSE Sensex lost 266.93 points or 1.07 percent to 24587.18 and the 50-share NSE Nifty declined 85.90 points or 1.14 percent to 7476.50. The market breadth was pathetic as about nine shares declined for every share advancing on the Bombay Stock Exchange. Tata Steel plunged 4.57 percent after S&P downgraded the stock to 'BB-', a low investment grade rating, over persistent subdued operating performance amid subdued demand and low steel prices. Axis Bank, SBI, Tata Motors, BHEL, Bank of Baroda and PNB were down 2.5-3 percent. However, ITC gained.
Infosys results come as a relief for investors concerned about the tepid growth in the IT sector. Earlier this week, TCS - India's biggest outsourcer -- had disappointed the Street for the sixth straight quarter.
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Two days after market leader Tata Consultancy Services posted underwhelming numbers, Infosys recorded a sharply contrasting performance, continuing with its recent run of good fortune and posted a stellar set of numbers that blew past market expectations in a traditionally weak quarter and raised its full-year guidance. Shares of Infosys surged as much as 5% in early morning trade on the BSE on Thursday. At 9.41am, Infosys shares were trading at Rs.1127.45, up over 4%.
India's stock markets snapped a two-day losing streak to end nearly 1 percent higher in a highly volatile day where stocks recovered from over 1-1/2-year lows led by strong buying in heavyweight Reliance Industries (RELI.NS).The broader Nifty ended 0.69 percent higher after falling as much as 1.13 percent higher.The benchmark Sensex gained 0.7 percent at close after losing as much as 1.19 percent earlier.
Wednesday, 13 January 2016
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The market has opened firm following global lead. The Sensex is up 179.71 points or 0.7 percent at 24861.74 and the Nifty is up 52.50 points or 0.7 percent at 7562.80. About 591 shares have advanced, 81 shares declined, and 42 shares are unchanged. Bharti Airtel, BHEL, Tata Motors, Hindalco and Axis Bank are top gainers. Infosys is up over 1 percent. TCS is in red. The Indian rupee has opened marginally higher at 66.82 a dollar compared to 66.86 per dollar in previous session.
The Sensex advanced nearly 190 points and the Nifty rose above its crucial psychological level of 7,550 on the back of firm global cues in the opening deals on Wednesday.Asian shares rose as Shanghai's market stabilized for a second day and Chinese export figures improved. Investors also were cheered by gains on Wall Street that snapped a losing streak, including an eight-day slump for the Nasdaq composite.
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The S&P BSE Sensex surged as much as 188 points in morning trade on Wednesday, led by gains in Infosys, RIL, HDFC, Tata Motors, and HDFC Bank.The Nifty50 reclaimed its crucial level of 7,550, supported by gains in realty, power, oil & gas, metal, auto, and banking stocks.
India's stock markets extended losses on Tuesday, falling to fresh 1-1/2-year lows as risk aversion ahead of a slew of corporate results, including from Tata Consultancy Services (TCS.NS), weighed on sentiment.The benchmark BSE Sensex closed 0.58 percent lower at its lowest close since May 30, 2014.The broader NSE Nifty ended 0.71 percent lower, its lowest close since July 14, 2014.
Tuesday, 12 January 2016
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After yesterday's tumble, the market has opened in green on Tuesday. The Sensex is up 46.48 points or 0.2 percent at 24871.52 and the Nifty is up 19.40 points or 0.3 percent at 7583.25. About 390 shares have advanced, 117 shares declined, and 49 shares are unchanged. L&T, Hindalco, Tata Steel, Tata Motors and Maruti are top gainers in the Sensex. Among losers are Hero, Dr Reddy's, ONGC, ITC and Adani Ports.
The Sensex and Nifty traded on a flat note in the opening deals on Tuesday tracking subdued global cues and weakness in information technology (IT) stocks ahead of the TCS earnings which will come later in the day.
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The Indian market is expected to trade in a range on Tuesday tracking weak trend seen in other Asian markets. "The Nifty50 witnessed some selling pressure towards the closing of the trade and it ended with the loss of around 40 points levels. It has been making lower top - lower bottom formation, but now pace of selling seems to be lesser."
Larsen & Toubro gains 1.6 pct; on way to snap their four-day selling streak.Heads towards biggest single day gain since Nov.27.Credit Suisse upgrades to "outperform" from "neutral" citing sustainable expectations, potential for positive surprise and reasonable valuations.Says positive surprise possible from railways, defense, power and real estate that have not contributed in FY16 so far, bottoming of execution, margin benefit from commodities decline and asset divestitures.Stock has 28 buy, 12 hold and 3 sell ratings.Manufacturers including L&T target orders from revived nuclear power push.
Monday, 11 January 2016
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The market has once again opened with sharp falls following weak China. The Nifty us below 7500 for first time since July 15, 2014. The 50-share index is at 7598, down 89 points or 1.15 percent while the Sense is down 326.29 points or 1.3 percent at 24608.04. Hindalco, Tata Steel, Tata Motors, L&T and Adani Ports are major laggards in the Sensex.
Indian markets are poised to open sharply lower amid weak Asian stocks. The Nifty futures on the Singapore index were trading 1 per cent lower at 7,521, indicating a weak opening for Sensex and Nifty.The rupee would be closely watched today. The Indian currency fell to 66.92/dollar against Friday's close of 66.63. The US reported strong job numbers for December, a development that could lead to a broad rise in dollar amid expectations of a Fed rate hike in March.
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The S&P BSE Sensex plunged over 300 points in morning trade on Monday led by losses in ICICI Bank, HDFC, L&T, SBI and Tata MotorsBSE -1.82 %.The Nifty50 came under pressure and slipped below 7500 to hit its fresh 52-week low of 7495.65, weighed down by losses in realty, power, oil & gas, metal, consumer durable, and banking stocks.
India's stock markets stabilised on Friday as investors bought stocks battered in the previous session, although wild swings in Chinese markets this week pushed Indian equities to record their worst weekly performance since November 2011.The broader NSE Nifty ended 0.44 percent higher but lost about 4.54 percent during the week.The benchmark BSE Sensex gained 0.33 percent at close, but shed 4.7 percent during the week. Both the NSE and BSE have recorded their worst weekly performance since Nov. 18, 2011.
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