Friday, 5 February 2016
Budget 2016: Tax easing to bring cheers to FMCG sector
The fast moving consumer goods (FMCG) sector, one of the prominent contributors to India's Gross Domestic Product (GDP) annually, has been witnessing challenging times in the current fiscal year on account of several factors including weak monsoons, declining commodity prices, intense price competition, etc. The government has taken certain steps to encourage investment by relaxing license rules and easing conditions of foreign investment regulations in the space.
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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.
Thursday, 4 February 2016
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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 surged over 200 points in morning trade on Thursday, led by gains in RIL, Infosys, HDFC, L&T, and ITC.The Nifty50 surged over 60 points to reclaim its crucial level of 7400, supported by gains in capital goods, auto, IT, banks, and metal stocks.
India's Dish TV falls over 14.1 pct to lowest since May 14, 2015; posts biggest intraday pct fall since July 23, 2012Dish TV India net profit drops 21.24 pct q/q.Management says average revenue per user will remain flat for current fiscal at 172 rupees.
Wednesday, 3 February 2016
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The market has opened sharply lower following correction in global peers and crude oil prices. The Sensex fell 254.69 points or 1.04 percent to 24284.31 and the Nifty declined 82.80 points or 1.11 percent to 7372.75. ICICI Bank, Tata Motors, Tata Steel, BHEL, ONGC, Cairn India, Vedanta, Idea Cellular and Bank of Baroda were down 2-2.5 percent while HUL gained over a percent.
The broader markets were also facing the heat of selling pressure. The BSE mid-cap and small-cap indices slumped 1.5 per cent each.Asian shares sagged on Wednesday as oil prices sank again due to fading hopes of a deal to curb a global supply glut, prompting investor to seek shelter in safe-haven assets and lifting bonds and gold to multi-month highs.
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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.
Tuesday, 2 February 2016
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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Tube Investments of India declares interim dividend
Tube Investments of India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 02, 2016, have approved the payment of an Interim Dividend at Rs. 1.50 (One Rupee and Fifty paise) per equity share of the face value of Rs. 2/- each of the Company for the year ending March 31, 2016.
Tube Investments of India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 02, 2016, inter alia, have approved the following:- Payment of an Interim Dividend at Rs. 1.50 (One Rupee and Fifty paise) per equity share of the face value of Rs. 2/- each of the Company for the year ending March 31, 2016.The Interim Dividend will be paid on February 23, 2016.Source.
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The market has opened flat ahead of Reserve Bank of India's monetary policy review. The Sensex is up 42.63 points or 0.2 percent at 24867.46, and the Nifty is up 6.40 points or 0.08 percent at 7562.35. About 452 shares have advanced, 253 shares declined, and 32 shares are unchanged. ONGC, GAIL, HDFC, Bajaj Auto and ITC are major losers while Adani Ports, Sun Pharma, Tata Motors, Dr Reddy's Labs and Maruti are gainers in early trade.
Asian shares wobbled on Tuesday as crude oil prices slid on rekindled oversupply fears and after downbeat manufacturing data raised concerns about global momentum.Stocks had been lower earlier in the day as weak Chinese economic data added to concerns about a global slowdown and oil prices resumed their slide.
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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.
Monday, 1 February 2016
Sensex, Nifty consolidate ahead of RBI policy; SBI declines 3%
SBI tanked more than 3 percent. Morgan Stanley is worried about State Bank of India's bad loan and has reduced target price to Rs 115 per share, implying 36 percent downside. It has also cut earnings per share (EPS) by 28-35 percent. The Sensex declined 35.87 points to 24834.82 and the Nifty fell 7 points to 7556.55. About 1407 shares have advanced, 1236 shares declined, and 152 shares are unchanged on the BSE.
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Manufacturing sector returns to growth at start of 2016: PMI
Indian manufacturing sector growth rose to a four-month high in January driven by rising inflows of new business orders from domestic as well as export clients, says a Nikkei survey. Following the contraction in December in the wake of Chennai floods, January saw the Indian manufacturing sector rebound into expansion territory, as production and new orders recovered, the report said. The Nikkei India Manufacturing PMI, a composite monthly indicator of manufacturing performance, stood at 51.1 in January, up from 49.1 in December. A figure above 50 represents expansion while a reading below this level means contraction.
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The market has opened on a flat note. The Sensex is up 38.58 points at 24909.27, and the Nifty is up 24.90 points or 0.3 percent at 7588.45. About 506 shares have advanced, 105 shares declined, and 31 shares are unchanged. L&T, Lupin, BHEL, SBI and Axis Bank are top gainers while Hero, ICICI Bank, ITC, NTPC and Dr Reddy's Labs are losers in the Sensex.
DHFL, Petronet LNG, Jain Irrigation Systems, IDBI Bank, SKS Microfinance, Voltas, Godrej Industries, IFCI and Jindal Steel were among the top gainers from the Nifty Mid-Cap 50 basket of stocks, up 1-3.2 per cent each.
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