Live Stock Market News Closing Bell ; Market Off Day's High

Sensex, Nifty off day's high; FMCG & infra up, Infosys falls Nifty Bank touched 18000 level for the first time since October 26, 2015 after the Reserve Bank of India maintained accommodative policy stance, though pointing inflation concerns. Get More Market Updates www.marketmagnify.com or Just Give One Missed Call at +917879-88-11-22

The Indian stock market surged further in afternoon trade with the Sensex rising 300 points or 1.12 percent to 27076.90, driven by banks, FMCG, infra and auto stocks. The Nifty is inching towards 8300, up 92.10 points or 1.12 percent at 8293.15. The market breadth remained positive as about 1483 shares advanced against 985 declining shares on Bombay Stock Exchange. 

The BSE Midcap index gained 0.6 percent and Smallcap was up 1.1 percent. Nifty Bank touched 18000 level for the first time since October 26, 2015 after the Reserve Bank of India maintained accommodative policy stance, though pointing inflation concerns. State Bank of India and ICICI Bank surged 4 percent each.

Today Nifty Top Gainers are :- SBI, ICICI Bank, UltraTechCement, Hindalco and Ambuja Cements .

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Maruti Suzuki sees sales growing in double digits in FY17 

Maruti Suzuki India, the country's largest carmaker, said it expects sales to grow in double digits in 2016-17, with new models likely to drive growth. 

"In the next fiscal we expect our sales to grow in double digits. As for industry it could be 5-10 percent," Maruti Suzuki India Managing Director and CEO Kenichi Ayukawa told reporters here on the sidelines of JD Power awards.

Maruti Suzuki Stock Price: On March 21, 2016, Maruti Suzuki India closed at Rs 3670.10, up Rs 0.00, or 0.00 percent. The 52-week high of the share was Rs 4789.00 and the 52-week low was Rs 3202.10.

The company's trailing 12-month (TTM) EPS was at Rs 156.32 per share as per the quarter ended December 2015. The stock's price-to-earnings (P/E) ratio was 23.48. The latest book value of the company is Rs 784.70 per share. At current value, the price-to-book value of the company is 4.68.

Equity Tips: Nifty ends at 7461, Sensex slumps 253 pts ahead of Fed meet

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3:30 pm Market closing: The Sensex ended lower 253.11 points or 1 percent at 24551.17, and the Nifty slipped 78.15 points or 1 percent at 7460.60 ahead of Fed meet. About 1003 shares have advanced, 1633 shares declined, and 159 shares are unchanged.

 

SBI, Bharti Airtel, Tata Steel, Axis Bank and BHEL were top gainers while Lupin, HDFC, Dr Reddy's, Sun Pharma abd Cipla were losers.

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The India VIX (Volatility) index was down 4.45% to 17.0975. In broader market with the benchmark indices with the BSE midcap and smallcap indices closed down on a mixed note. The NSE Nifty closed with a gain of 24 points at 7,510. The NSE Nifty opened at 7,485 hitting a high of 7,544 and low of 7,461.

Finally BSE Sensex ended with a gain of 95 points at 24,718. The BSE Sensex opened at 24,620 touched an intra-day high of 24,818 and low of 24,553. The government will on Friday announce Index of Industrial Production (IIP) data for January.

The Indian Rupee was trading down by six paise at 67.13 per US dollar. 

On the global front, China's Shanghai Composite index closed marginally up 0.16% and Hang Seng closed marginally up 1%.

In Europe, the FTSE 100 up 1.6%. On the other hand, DAX and the CAC 40 were trading higher by 2%.

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Adani Ports, Maruti Suzuki, RIL, Axis Bank, Coal India, L&T and HFFC Bank are among the gainers, whereas Sun Pharma, Tata Steel, Bharti Airtel and GAIL are losing sheen on BSE. The BSE Mid-cap Index is trading up 0.39% at 10,302, whereas BSE Small-cap Index is trading up 0.46% at 10,342. 

 

S&P BSE Sensex is trading at 24,735 up 111 points, while NSE Nifty is trading at 7,525 up 39 points.

Some buying activity is seen in realty, capital goods, energy, oil and gas and IT sectors, while consumer durables, basic materials, pharma and telecom sectors are showing weakness on BSE.

Global stocks fell in spite of ECBs stimulus in the form of rate cuts further into negative territory and higher than expected increase in bond buying programme. A run up in stock prices three weeks ahead of the policy, ECB guidance that further cuts will not take place soon and lack of faith in stimulus' ability to boost economic growth were the reasons for the fall in markets.

The ECB cut its key lending rate to zero from 0.05% and pushed the rate on its deposit facility to minus 0.4% from minus 0.3%.

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RCom shareholders approve SSTL merger

Reliance Communications today said its shareholders have approved the proposal for merger of Sistema Shyam Teleservices with the company.

The deal between RCom and SSTL is valued at around USD 690 million (Rs 4,500 crore) and is expected to close in the second quarter of 2016.

SSTL will hold about 10 per cent stake in RCom and pay off its existing debt before closing the deal.

While the two companies did not disclose financial details of the deal, as per industry source SSTLs equity stake has been valued at USD 290-300 million at current prices. RComs 10 per cent stake comes at around USD 300 million.

Reliance Comm stock price

On March 09, 2016, at 10:12 hrs Reliance Communications was quoting at Rs 54.80, up Rs 0.25, or 0.46 percent. The 52-week high of the share was Rs 91.80 and the 52-week low was Rs 45.65. 

The latest book value of the company is Rs 144.12 per share. At current value, the price-to-book value of the company was 0.38.

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Tata Motors expects CV sales to grow 25% this fiscal

Tata Motors is hopeful of closing this financial year with a 25 percent growth in commercial vehicle sales and continuing the run next year as well on replacement demand to meet new emission norms and a pick-up in the economy.

The company expects to close the hybrid bus order from BMC "any day now", having already signed an agreement with the authorities.

Tata Motors (D) stock price: On March 04, 2016, at 10:03 hrs Tata Motors (DVR) was quoting at Rs 249.85, up Rs 3.00, or 1.22 percent. The 52-week high of the share was Rs 371.14 and the 52-week low was Rs 201.00.  

The company's trailing 12-month (TTM) EPS was at Rs per share as per the quarter ended March 2016. The stock's price-to-earnings (P/E) ratio was 0. The latest book value of the company is Rs per share. At current value, the price-to-book value of the company is 0.00.