Sensex closes 132 points up on US election optimism
Posted by on 08 November

Sensex closes 132 points up on US election optimism

Mumbai: BSE Sensex on Tuesday closed over 132 points higher and NSE Nifty reclaimed the crucial 8,500-level, enthused by revived global sentiments following improved prospects of Hillary Clinton's win in today's US election. The sentiment-driven rally also got support from stock specific earning results and finance minister Arun Jaitley's statement that the Centre will step up reforms to attract more investment and fill up infrastructure deficit. However, the momentum turned range-bound with investors being cautiously optimistic about the US poll outcome, while a fag-end buying saw key indices recovering from the day's low. The 30-share Sensex after shuttling between 27,646.84 and 27,406.76, settled 132.15 points, or 0.48 per cent higher, at 27,591.14. The gauge had gained 184.84 points yesterday. The NSE Nifty ended 46.50 points, or 0.55 per cent, higher at 8,543.55 after moving between 8,559.40 and 8,480.10. In the broader markets, mid-cap index also rose by 0.36 per cent while small-cap index gained 0.16 per cent. Buying was led by auto, industrials, oil & gas, banks, financials and utilities -- supported by second-line shares of mid-cap and small-cap industries. While selling was seen in healthcare, FMCG and realty counters. Globally, most Asian markets extended gains on hopes Hillary Clinton will beat Donald Trump in Tuesday's presidential election but traders are cautious, with many opinion polls saying the race is too close to call. Hong Kong's Hang Seng gained 0.47 per cent, while Shanghai Composite Index rose 0.46 per cent. Japan's Nikkei, however, ended almost flat. European markets were cautious in their opening deals with London's FTSE edging higher by 0.10 per cent, while Frankfurt's DAX 30 up 0.05 per cent. Paris CAC 40 up 0.15 per cent.
0 0 95 08 November, 2016 Market more
Sensex surges 142 pts in early trade ahead of US election
Posted by on 08 November

Sensex surges 142 pts in early trade ahead of US election

Mumbai: The benchmark BSE Sensex gained nearly 142 points in early trade on Tuesday, extending its yesterday's rally driven by revived investor confidence on improved chances of Hillary Clinton's victory in the US poll. Moreover, increased buying by foreign funds and domestic financial institutions also supported trading sentiment. The 30-share index surged 141.72 points, or 0.51 per cent, to 27,600.71 with all the sectoral indices led by auto, power and healthcare trading higher. The gauge had rallied 184.84 points in the previous session. The NSE index Nifty too climbed 46.10 points, or 0.54 per cent, to trade above the 8,500-mark at 8,543.15. Brokers said fresh spell of foreign fund inflows and persistent buying by investors amid a firming trend overseas on growing confidence that market favourite Hillary Clinton will emerge victorious in the US president buoyed trading sentiment here. Among other Asian markets, Hong Kong's Hang Seng was up 0.38 per cent and Japan's Nikkei gained 0.28 per cent, however, Shanghai Composite Index gained 0.21 per cent in early trade today. The US Dow Jones Industrial Average jumped 2.08 per cent in yesterday's trade as global markets rallied.
0 0 72 08 November, 2016 Market more
Sensex ends 185 points up as Clinton’s prospects brighten
Posted by on 07 November

Sensex ends 185 points up as Clinton’s prospects brighten

Mumbai: Sensex staged a strong comeback to end with a gain of nearly 185 points, reversing its five-session losing run and tracking rebound in global market on Monday after prospects of Hillary Clinton brightened in the US presidential race following an FBI reprieve. Moreover, covering-up by speculators, who had been creating short positions, too gave equities a push. After a gap-up opening at 27,552.27 points, the Sensex advanced to hit a high of 27,591.15. However, due to profit-booking towards the close, it touched a low of 27,398.72 before settling 184.84 points or 0.68 % higher at 27,458.99. The 30-scrip gauge had lost 667.36 points in the previous five sessions on sustained foreign fund outflows. Sentiment got a lift largely in tandem as global markets saw a recovery on Monday after the FBI said market-favourite Hillary Clinton would not face criminal charges over her use of private email service, easing worries amongst investors. The NSE Nifty after reclaiming the 8,500-point mark, touched a high of 8,535.85 and finally settled at 8,497.05, showing a hefty gain of 63.30 points, or 0.75 %. Buying activity was so strong that all sectoral indices, except capital goods, ended in the green, rising by up to l.94 %. Tracking overall trends, the broader markets were also in better shape with the small-cap surging 1.19 % and the mid-cap index rising 0.59 %. Foreign portfolio investors (FPIs) sold shares worth a net Rs 343.30 crore on Friday, as per provisional data.
0 0 76 07 November, 2016 Market more
Sensex rallies 317 pts in opening trade
Posted by on 07 November

Sensex rallies 317 pts in opening trade

Mumbai: Reversing its five-day losing streak, the benchmark Sensex surged 317 points and the NSE Nifty reclaimed the 8,500-mark in early trade on Monday amid positive developments on US election front as the FBI said Hillary Clinton would not face charges over her use of a private email server. Short-covering of bets by speculators also supported the upmove. The 30-share index, which had lost 667.36 points in the previous five sessions, rallied by 317 points, or 1.16 per cent, at 27,591.15. All the sectoral indices, led by healthcare, metal and realty stocks were trading in positive zone, giving the sentiment a lift. The NSE index Nifty was also trading higher 102.10 points, or 1.21 per cent, at 8,535.85. Brokers said the mood turned buoyant, bolstered by a flurry of buying following a firming trend in global markets after the FBI said market-favourite Hillary Clinton would not face criminal charges over her use of a private email server, easing worries over her US presidential bid. Hong Kong's Hang Seng was up 0.56 per cent, Japan's Nikkei gained 1.36 per cent while Shanghai Composite index edged higher 0.22 per cent in early trade today.
0 0 62 07 November, 2016 Market more
Top seven most valued companies lose Rs 72,452 cr in m-cap
Posted by on 06 November

Top seven most valued companies lose Rs 72,452 cr in m-cap

New Delhi: The combined market valuation of seven of the 10 most valued Indian companies plummeted by Rs. 72,452.27 crore last week, with ONGC emerging as the worst hit. While TCS, RIL, HDFC Bank, ONGC, Infosys, CIL and SBI suffered losses in their market capitalisation (m-cap) for the week ended Friday, ITC, HDFC and HUL on the other hand witnessed gains. ONGC’s valuation plunged Rs. 17,367.65 crore to Rs. 2,30,698.79 crore. The m-cap of RIL tanked Rs. 14,724.35 crore to Rs. 3,26,205.83 crore and that of TCS tumbled Rs. 12,709.26 crore to Rs. 4,59,129.41 crore. SBI’s valuation dropped by Rs. 11,644.17 crore to Rs. 1,88,519.04 crore and Infosys saw an erosion of Rs.7,281.31 crore to Rs. 2,22,987.39 crore. CIL took a hit of Rs. 6,632.18 crore to Rs. 1,99,281.30 crore and HDFC Bank suffered a loss of Rs. 2,093.35 crore to Rs. 3,17,052.75 crore. On the other hand, the m-cap of ITC surged Rs. 8,722.84 crore to Rs. 3,01,786 crore. HUL added Rs. 1,547.46 crore to Rs. 1,83,400.64 crore and HDFC saw a mild rise of Rs. 23.76 crore to Rs.2,18,747.29 crore. In the ranking of top-10 firms, TCS held the numero-uno spot followed by RIL, HDFC Bank, ITC, ONGC, Infosys, HDFC, CIL, SBI and HUL. Over the last week, the first of the new Samvat Year 2073, the Sensex and Nifty both recorded losses by plunging 667.36 points, or 2.38 per cent, and 204.25 points, or 0.36 per cent, respectively.  
0 0 65 06 November, 2016 Market more
Sensex logs 2 per cent weekly fall on US poll blues
Posted by on 05 November

Sensex logs 2 per cent weekly fall on US poll blues

Mumbai: The BSE Sensex lost over 2 per cent to end the week at 27,274 -- a nearly four-month low -- and the Nifty crashed below the key 8,500-mark, mirroring global turbulence amid pointers that the US presidential election due on November 8 is headed for a tight finish. The weekly loss of 667 points includes that of the Muhurat session. Sentiment took a downturn in line with weakness in global indices after opinion polls indicated that Republican Donald Trump and Democrat Hillary Clinton are neck and neck in the race for the top job. The selling pressure intensified as pharma stocks took the biggest knock amid reports of a likely US federal probe of Indian drug companies on the issue of price collusion. The 30-share Sensex resumed higher at 28,066.32 and hovered between 28,095.71 and 27,193.61 before ending the week at 27,274.15, a loss of 667.36 points, or 2.39 per cent. The NSE Nifty also fell 204.25 points, or 2.36 per cent, to close the week at 8,433.75, after shuttling between 8,678.25 and 8,400.25. Maximum losses came from healthcare, realty, oil and gas and PSUs. Capital goods, banking, consumer durables, power, IT and technology too suffered as also second-line shares of mid-cap and small-cap companies. Meanwhile, foreign portfolio investors (FPIs) and foreign institutional investors (FIIs) sold shares worth Rs 1,847.72 crore during the week, as per Sebi's record including the provisional figure of November 4. In the broader market, heavy selling was witnessed in mid-cap and small-cap stocks. The BSE mid-cap index slumped 568.74 points or 4.24 per cent to settle at 12,839.53. The BSE small-cap index tanked 576.55 points or 4.29 per cent to settle at 12,877.48. The fall in both these indices was higher than the Sensex's decline in percentage terms. Among the sectoral indices, healthcare fell by 7.47 per cent, followed by realty 6.16 per cent, oil&gas 4.93 per cent, capital goods 3.58 per cent, banking 2.70 per cent, consumer durables 2.55 per cent, power 2.48 per cent, IT 2.05 per cent, teck 2.04 per cent, auto 1.62 per cent, metal 0.29 per cent and FMCG 0.09 per cent. Among the 30-share Sensex pack, 26 stocks fell and remaining four stocks rose during the week. Sun Pharmaceutical Industries slumped 12.24 per cent. As per reports, prosecutors at the US Federal Reserve may bring charges of price collusion against a group of generic drugmakers before the end of the year. It was followed by Dr Reddy 8.42 per cent, ONGC 6.34 per cent, Adani Ports 6.03 per cent, SBI 5.82 per cent, Cipla 5.21 per cent, Lupin 4.66 per cent, Reliance 4.53 per cent and Tata Motors 4.43 per cent. M&M was the major gainer by 4.71 per cent. Shares of cigarette major ITC gained 2.70 per cent. Fears of goods and service tax (GST) overhang has subsided after GST council has finalised four-tier tax structure. Earlier, there were uncertainties about charging higher tax on tobacco post GST. ITC gets over 45 per cent of its revenue from tobacco products. It was followed by HUL 1.10 per cent and NTPC 0.49 per cent. The total turnover during the week on BSE and NSE declined to Rs 15,202.41 crore and Rs 86,479.33 crore, respectively, as against last weekend's level of Rs 16,579.80 crore and Rs 1,10,303.38 crore.
0 0 58 05 November, 2016 Market more
Sensex closes 156 points down
Posted by on 04 November

Sensex closes 156 points down

Mumbai: Continuing sluggishness for the fifth straight session, the Sensex tanked over 156 points to close at a near four-month low of 27,274.15 on sustained foreign fund outflows amid growing uncertainty over the outcome of next week’s US presidential election. The BSE Sensex, which had lost 511.23 points in the previous four sessions, dropped another 156.13 points, or 0.57 per cent, to end at 27,274.15, its lowest closing since July 8. It shuttled between 27,498.91 and 27,193.61. The 50-share NSE Nifty shed 51.20 points, or 0.60 per cent, to end at 8,433.75, after moving between 8,504 and 8,400.25. The broader markets too remained under pressure as investors indulged in cutting down their position, with the small-cap index falling by 2.20 per cent and the mid-cap index shedding 1.34 per cent.  
0 0 65 04 November, 2016 Market more
Sensex weakens further in morning trade
Posted by on 04 November

Sensex weakens further in morning trade

Mumbai: The BSE Sensex lost further ground on Friday morning by declining 43 points on sustained capital outflows by foreign funds and selling by retail investors amid continued sell-off in global markets, reeling under fear that market favourite Hillary Clinton may lose US election. However, a four-tier GST rate structure decided by the all-powered GST council yesterday had positive impact and minimised fall in the key indices. The 30-share Sensex moved down by another 42.53 points, or 0.15 per cent, to trade at 27,387.75 in early trade. Stocks of healthcare, capital goods, auto, realty and software exporters were trading in the negative zone with losses up to 3.55 per cent. The gauge had lost 511.23 points in the previous four sessions. On similar lines, the NSE Nifty fell by 14.80 points, or 0.17 per cent to 8,470.15. Meanwhile, a four-tier GST tax structure of 5, 12, 18 and 28 per cent that aims to lower tax incidence on most goods and keep out essential items was decided by a high-powered council yesterday — a major breakthrough for rollout of the Goods and Services Tax regime from April 1 next year. Big losers that dragged down the indices were Sun Pharma, Dr Reddy's, Lupin, L&T, Maruti Suzuki, Cipla, Hero MotoCorp, Tata Motors, M&M, Bharti Airtel and Wipro. Bucking the trend, shares of ITC Ltd and Hind Unilever rose by 5.70 per cent and 3.01 per cent, respectively. Brokers said sentiment remained weak as participants indulged in cutting their bets, tracking a falling trend in global market as investors fret over next week's US president election. In the Asian region, Hong Kong's Hang Seng fell 0.32 per cent, while China's Shanghai Composite index shed 0.08 per cent in early trade today. Japan's Nikkei fell 1.44 per cent. The Dow Jones Industrial Average ended 0.16 per cent lower on Thursday.
0 0 60 04 November, 2016 Market more
Sensex piles up losses for 4th day
Posted by on 03 November

Sensex piles up losses for 4th day

Mumbai: Sensex plummeted some 97 points to hit nearly four-month low of 27,430.28, falling for the fourth straight session, and Nifty crashed below the key 8,500-level on Thursday, tracking cautious global markets amid a new poll suggesting a likely win for Donald Trump in US election. After opening lower at 27,518.06, the Sensex recovered to the day's high of 27,600.74 on bargain-buying by participants, including domestic financial institutions. However, it again slipped into negative terrain to hit a low of 27,399.26 before settling 96.94 points, or 0.35 per cent, lower at 27,430.28. The Nifty after shuttling between 8,476.15 and 8,537.65, concluded 29.05 points or 0.34 per cent down at 8,484.95.
0 0 59 03 November, 2016 Market more
Sensex opens 41 points up on Asian cues
Posted by on 01 November

Sensex opens 41 points up on Asian cues

Mumbai: The benchmark BSE Sensex recovered about 41 points in early trade on Tuesday as investors widened their positions on encouraging infrastructure growth amid a mixed trend in Asian markets. The 30-share barometer, which had shed 11.30 points on the first day of Samvat 2073 in special ‘Muhurat’ session on Sunday, was trading higher by 41.11 points or 0.14 per cent at 27,971.32, with the sectoral indices led by metal, auto and realty trading in the green, rising by up to 0.72. On similar lines, the NSE Nifty was quoting 27.70 points or 0.32 per cent higher at 8,653.40. Brokers said market sentiment revived after a government data showed that infrastructure sector recorded a growth rate of 5 per cent in September, the highest in three months on account of healthy performance by cement, steel and refinery products. A mixed trend in other Asian markets amid data indicating Chinese manufacturing activity grew further in October also influenced sentiments here. Hong Kong’s Hang Seng was up 1.31 per cent, Shanghai’s Composite index rose 0.17 per cent, while Japan’s Nikkei shed 0.15 per cent in their early trade. Meanwhile, the US Dow Jones Industrial Average ended 0.10 per cent lower in yesterday’s trade.  
0 0 69 01 November, 2016 Market more