LIVE MARKET UPDATE

Friday 27 June 2014

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With a stable government at the Centre, PSU stocks are back on the investors' radar. The last three months have seen the BSE PSU Index move up 48%, while the Sensex gained 16.5%. Coal IndiaBSE -0.77 % is up to Rs 399 from Rs 270, State Bank of IndiaBSE 0.04 % is up to Rs 2,712 from Rs 1,701, BPCLBSE 0.74 % rose to Rs 566 from Rs 449 and ONGCBSE 0.68 % is up to Rs 417 from Rs325. 


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India's benchmark BSE index gains 0.36 percent, while the broader NSE index is up 0.39 percent. Gains were led by value-buying in blue-chip stocks such as Oil and Natural Gas Corp after the stock fell sharply in the previous session. ONGC gains 1.2 percent after falling 5.8 percent on Thursday. * Shares in Ranbaxy Laboratories Ltd are up 4.7 percent and Sun Pharmaceuticals Industries Ltd gains 3.65 percent after the U.S. 


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BSE Sensex and Nifty were higher today amid broad-based buying after yesterday's selloff. An easing of global oil prices and gains in healthcare and a rebound in oil & gas stocks helped markets to rise nearly 0.5 per cent.


In oil, Brent crude was down 0.6 percent at $113.28 a barrel amid some easing of concerns of a supply disruption from the conflict in Iraq. Further aiding the sentiment was the rise in the rupee which rose to 60.10 per dollar vs yesterday's close of 60.14.


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Thursday 26 June 2014

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In a big relief for auto manufacturers, the government cleared the air on excise duty structure for the sector. It decided to extend excise duty concession by six months , till the end of 2014.


Oil & gas stocks drag the market as government defers gas price revision. The Sensex is down 170.37 points at 25143.37 and the Nifty slips 49.50 points at 7519.75. About 913 shares have advanced, 916 shares declined, and 72 shares are unchanged.


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Gold slipped on Thursday as stronger equities dented the metal's safe-haven appeal and investors largely shrugged off weak US economic growth numbers in favour of more recent data. 


The US economy contracted at a much steeper pace in the first quarter than previously estimated, turning in one of its worst-ever non-recession performances, but growth already appears to have rebounded strongly. 


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BSE Sensex and Nifty struggled today weighed down by sharp losses in oil & gas stocks after the government deferred decision on gas price hike for three months.


ONGC slumped over 6 per cent while Reliance Industries fell over 3 per cent. Oil marketing companies BPCL, HPCL and Indian Oil fell between 2-3 per cent as the government clarified that currently there is not proposal to hike LPG and kerosene prices.


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Wednesday 25 June 2014

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Asian shares were on the back foot early on Wednesday,taking their cue from Wall Street as 
the deepening crisis in Iraq and a report that the U.S. could be loosening restrictions.

On crude exports triggered a rally in oil prices.The British pound nursed losses on Wednesday after comments from the Bank of England governorcooled expectations for an interest rate hike this year, while its G3 counterparts drifted in well-worn ranges.

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BSE Sensex and Nifty were flat in early trade amid weak Asian markets and concerns over oil prices. Brent crude price rose above $114 today as Iraq's security forces fought the rebels for control of the country's biggest oil refinery.
A weak rupee also weighed on Indian stock markets. Rupee weakened to 60.36/dollar vs its Tuesday's close of 60.13.


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Tuesday 24 June 2014

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Despite turmoil in Iraq and a rise in global oil prices, investors continue to remain gung-ho on India's state-owned oil companies, confident that the subsidy reforms can unlock value. While the upstream companies ONGCBSE 0.39 % and Oil IndiaBSE 1.27 % top investors' list, the downstream marketing companies also offer some interesting possibility of gains. 


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Today Indian Nifty Future Market Tips

BSE Sensex and Nifty rebounded today, led by gains in oil & gas, banking, and FMCG stocks. Indian stocks markets had been under pressure in the past four trading sessions amid concerns over rising oil prices amid Iraq crisis.


A slight easing in oil prices and a higher rupee boosted the sentiment. Brent crude edged back from nine-month highs as concerns waned over Iraq's country's oil exports. Brent fell 40 cents to $113.72 a barrel from $115 levels yesterday. Rupee was marginally higher at 60.17 to a dollar against yesterday's close of 60.20.


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India's benchmark BSE index gains 0.74 percent, while the broader NSE index is up 0.62 percent. Blue-ship stocks leading the gains with ITC Ltd up 1.7 percent on value-buying after falling 6.2 percent in the previous session. Among other heavyweights, Reliance Industries Ltd is up 1.2 percent while State Bank of India gains 1.3 percent. 


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Monday 23 June 2014

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The Narendra Modi government is likely to unveil a range of measures in its first budget, expected to be announced next month, to revive manufacturing and create more jobs as it looks to put the economy back on the high-growth track.


These steps could include an amendment giving relief to automakers, consumer durables firms and others from the controversial Fiat judgement, creating large regional manufacturing zones and correcting anomalies in the import duty structure. 


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India's BSE index is up 0.2 percent and the broader NSE index is 0.1 percent higher, on expectation the government would be able to initiate bold reforms in the upcoming budget after it raised railway fares on Friday effective June 25.


Gains in global stocks and expansion in China factory activity also helped. Oil and Natural Gas Corp gains 2.1 percent while Hero MotoCorp is up 1.5 percent.


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BSE Sensex and Nifty edged higher today but gains capped by concerns over Iraq crisis that has taken oil prices to near 9-month highs. Markets took support from higher Asian markets and a rise in the rupee.


Rail infra stocks Texmaco, Kalindee Rail Nirman and Hind Rectifiers were among the gainers after train fares were hiked by over 14 per cent. These stocks rose nearly 3 per cent. The government is also expected to open up parts of the rail network to foreign investors to boost investment in the sector.


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