Market Live: Sensex, Nifty, Midcap indices strong; advance:decline ratio at 3:1

Asian markets are mixed on the last trading day of the quarter, shrugging off gains seen on Wall Street overnight.

Asian markets are mixed on the last trading day of the quarter, shrugging off gains seen on Wall Street overnight.

Market Update: The market remained strong in morning with the Nifty holding 10,650 level on the very first day of July series, backed by oil, metals, infra and FMCG stocks.

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The 30-share BSE Sensex gained 194.71 points at 35,232.35 and the 50-share NSE Nifty rose 64.00 points to 10,653.10. About three shares advanced for every share falling on the BSE.

Rupee Update: The rupee recovered from its record low by rising 20 paise to 68.58 against the US dollar on fresh selling of the American currency by banks and exporters.

The Indian currency had yesterday breached the 69-mark but covered lost ground to finally close at an all-time low of 68.79 with a fall of 18 paise against the US dollar due to multiple headwinds like weak global cues and concerns related to inflation and fiscal slippage.

Selling of dollars by banks and exporters today made the greenback weak against some currencies overseas, which supported the rupee, forex dealers said.

Higher opening of the domestic equity market also propped up the rupee, they added, reports PTI.

Crude Update: US. oil prices held around three-and-a-half year highs touched the previous day as a Canadian production outage disrupted the North American market.

International oil markets also remained firm as looming sanctions by Washington against Iran are expected to lead to a sharp drop in supplies from the OPEC-member.

US West Texas Intermediate (WTI) crude futures were at $73.18 a barrel, down 0.37 percent from their last settlement.WTI on Thursday hit its highest since November 2014 at $74.03 per barrel.

Brent crude futures were at $77.74 per barrel, down 0.14 percent, reports Reuters.

Market Opening: Benchmark indices started off the July series on a positive note despite mixed Asian cues, after rattled in previous two consecutive sessions.

The 30-share BSE Sensex rose 115.70 points to 35,153.34 and the 50-share NSE Nifty gained 38.60 points at 10,627.70.

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Tech Mahindra, Tata Motors, Tata Steel, Titan Company, HPCL, BPCL, IOC, Infosys, Reliance Industries and Hindalco Industries are early gainers.

Dr Reddy's Labs, NTPC, Asian Paints and Axis Bank are under pressure.

The Nifty Midcap index gained 150 points and Nifty Bank rose 33 points.

Mahindra CIE rallied 5.5 percent post block deal in the morning.

HEG, Graphite India, V-Mart Retail, Kaya, Future Consumer, Delta Corp and InterGlobe Aviation are early gainers.
 

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Market Live: Nifty consolidates, Midcap continues to underperform; Brent crude at $77.50/bbl

Market Live: Nifty consolidates, Midcap continues to underperform; Brent crude at $77.50/bbl. 

Asian markets were mixed amid ongoing trade concerns between the US and China

Market Outlook: The S&P BSE Sensex might be down by about 3 percent from its all-time high while for the Nifty it is nearly 5 percent from its lifetime high of 11,171 which does not mean that we are in a bear market but a more matured phase of a bull market, Bharat Iyer, MD, JP Morgan highlighted in an interview with JPMorgan.

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“When we started the year with expectations of low returns and high volatility. The Nifty5o in a way has risen from 10,000 at the beginning of the year to 10,600 now, a return of 6-7 percent. The will hit 11,300 through course of the year amid volatility,” said Iyer.

The volatility is likely to continue and midcaps are vulnerable at current levels which are likely to stay in that state for some more time thanks to excess valuations, rising cost of capital and global tensions.

Market Update: The market is trading mildly lower in morning amid ongoing trade tensions between the US and China, and after the rupee breached 69 a dollar for the first time against the dollar.

The Nifty Midcap index continued to underperform frontliners, falling more than half a percent on weak market breadth. About two shares declined for every share rising on the BSE.

The 30-share BSE Sensex fell 28.79 points to 35,188.32 and the 50-share NSE Nifty fell 20.40 points to 10,651.

Rupee Trade: The Indian rupee breached 69 against the dollar for the first time on strong demand for the American currency from exporters and banks.

Market Opening: Benchmark indices opened mildly lower after the Indian rupee touched an all-time low of 68.89 to the dollar.

The 30-share BSE Sensex fell 33 points to 35,184.11 and the 50-share NSE Nifty slipped 23 points to 10,648.40.

TCS, Infosys, Wipro, HCL Technologies, Tech Mahindra, Kotak Mahindra Bank, IndusInd Bank and Hindalco Industries are early gainers.

Tata Motors is under pressure.

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Nifty Midcap index fell 93 points and Nifty Bank lost 23 points.

Jet Airways, SpiceJet, Apollo Tyres, Ashok Leyland, Bank of Baroda, HDIL, Adani Power and Tata Power fell 1-2 percent.

Rupee Trade: The Indian rupee touched a fresh record low of 68.89 against the dollar in opening trade, falling 26 paise from the previous close. Consistent dollar demand from exporters and banks pushed it lower.

In previous session, the currency closed at 68.63 to the dollar, down 38 paise.

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Market Live: Nifty consolidates ahead of F&O expiry; weak rupee lifts IT stocks.

Market Live: Nifty consolidates ahead of F&O expiry; weak rupee lifts IT stocks. Asian shares traded mixed amid trade concerns.

Market Update: The market continued to consolidate ahead of the expiry of June futures & options contracts on Thursday.

The 30-share BSE Sensex fell 6.35 points to 35,483.69 and the 50-share NSE Nifty declined 19.90 points to 10,749.30.

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The Nifty Midcap index extends losses, falling 0.8 percent on weak market breadth. More than two shares declined for every share rising on the BSE.

Oil retailers IOC, HPCL and BPCL dropped 5 percent each after Brent crude futures traded above $76 a barrel.

ICICI Bank, ITC, L&T, SBI and Axis Bank slipped 1-2 percent while HDFC Bank, TCS, HDFC, HUL and Infosys gained 0.6-1.6 percent.

Crude Update: Oil prices rose today, pushed up by supply disruptions in Libya and Canada and after US officials said all countries should stop Iranian crude imports from November.

Brent crude futures were at $76.65 per barrel, up 0.45 percent, from their last close.

US West Texas Intermediate (WTI) crude futures were at $70.78 a barrel, up 0.35 percent.

The United States has told countries to cut imports of Iranian oil to zero from November, a senior State Department official said on Tuesday, reports Reuters.

Rupee Update: The rupee recovered some opening losses to trade 22 paise lower at 68.47 against the dollar.

It plunged by 30 paise to hit a 19-month low of 68.54 against the dollar in opening trade on strong month-end dollar demand from importers and banks amid sustained foreign capital outflows.

This is the rupee's lowest level against the greenback since November 29, 2016.

The dollar's strength against some currencies overseas weighed on the local unit but a higher opening of the domestic equity markets capped the losses, traders said.

Foreign portfolio investors (FPIs) sold shares worth Rs 538.40 crore yesterday, as per provisional data issued by the stock exchanges.

Yesterday, the rupee lost 11 paise to end at 68.24 against the US currency.

Market Opening: Benchmark indices traded flat in the opening on Wednesday despite weakness in Asian stocks due to trade tensions.

The Sensex rose 37.63 points to 35,527.67 while the Nifty fell 0.90 points to 10,768.30.

Bharti Infratel, Zee Entertainment, NTPC, UltraTech Cement, Dr. Reddy's Labs, Reliance Industries and HDFC Bank are under pressure.

Aurobindo, Sun Pharma, M&M, Tata Motors, HCL Technologies, Infosys, Yes Bank, Titan Company, Kotak Mahindra Bank and Tech Mahindra are early gainers.

Nifty Midcap and Bank indices are flat.

IndusInd Bank hit the fresh record high, up 0.24 percent.

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Bata India, Godrej Consumer, Hexaware and Jubilant Foodworks also hit the new high.

Future Retail, Majesco, and Mphasis gained.

Fortis Healthcare, IDBI Bank, Adani Enterprises and Ashok Leyland fell 0.5-3 percent.

Rupee Opening: The Indian rupee opened sharply lower at 68.43 against the dollar on Wednesday on demand for the American currency from exporters.

It traded at 68.49, down 25 paise or 0.37 percent from the previous close.

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Market Live: Sensex recoups losses, Nifty inches towards 10,800; RIL, ICICI Bank dip

Market Live: Sensex recoups losses, Nifty inches towards 10,800; RIL, ICICI Bank dip.

Asian markets are under pressure amid escalated trade tensions between US and China and crude worries.
 

Market Update: The market recouped its losses to trade higher with the Nifty inching towards 10,800 levels amid consolidation, backed by HDFC, ITC, and TCS. However, more than a percent correction in Reliance Industries and ICICI Bank capped upside.

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The broader markets continue to underperform frontliners, trading lower on weak breadth. About three shares declined for every two shares rising.

The 30-share BSE Sensex gained 89.54 points at 35,559.89 and the 50-share NSE Nifty rose 26.80 points to 10,789.30.

 

Buzzing: Shares of Tata Elxsi gained over percent in the morning trade and hit a fresh 52-week high on the BSE on reports that the firm is coming up with a prototype for driverless cars.

According to The Hindu BusinessLine, the firm could be first to come up with a driverless car prototype in the next 6-8 months.

The solution is likely to be implemented by one of the top five auto-makers, Nitin Pai, Senior Vice President told the newspaper.

Its program, Autonomai, “a fully autonomous middleware platform” has been licensed to one of the top five automakers. Currently, the automaker is believed to be testing it in Germany.

The market continued to consolidate amid global weakness on trade tensions between world's largest economies US and China, and also ahead of expiry of June derivative contracts on Thursday.

The 30-share BSE Sensex rose 13.20 points to 35,483.55 and the 50-share NSE Nifty gained 3.50 points at 10,766.

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Market Opening: Benchmark indices started off the trade on a negative note, following global weakness due to trade tensions between world's largest economies US and China.

The 30-share BSE Sensex slipped 94.76 points to 35,375.59 and the 50-share NSE Nifty declined 29.00 points to 10,733.50.

Tata Motors, Vedanta, IOC, BPCL, HPCL, Cipla and Dr Reddy's Labs are early losers.

Aurobindo Pharma, Asian Paints, Axis Bank, ITC, Lupin, TCS and Indiabulls Housing gained.

The nifty Midcap index fell 55 points and Nifty Bank lost 95 points.

Voltas, Sun TV Network, PNB Housing Finance and KRBL fell up to 6 percent.

Info Edge and Jet Airways gained more than a percent.

Rupee Opening: The Indian rupee has opened lower at 68.13 against the dollar and fell further to 68.19, down 7 paise from previous settlement.

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Market Live: Sensex, Nifty trade lower; Tata Motors, ICICI Bank, BPCL, HPCL drag

Market Live: Sensex, Nifty trade lower; Tata Motors, ICICI Bank, BPCL, HPCL drag. Shares of ICICI Bank lost around 2 percent in the morning trade as investors turned cautious of another whistleblower complaint against it.

Shares of ICICI Bank lost around 2 percent in the morning trade as investors turned cautious of another whistleblower complaint against it.

Crude Update: Brent crude oil prices fell over 1.5 percent on Monday as traders factored in an expected output increase that was agreed at the headquarters of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna on Friday.

Brent crude futures, the international benchmark for oil prices, were at USD 74.21 per barrel at 0343 GMT, down 1.8 percent from their last close.

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US West Texas Intermediate (WTI) crude futures were at $68.40 a barrel, down 0.3 percent, supported more than Brent by a slight drop in US drilling activity.

Prices initially jumped after the deal was announced late last week as it was not seen boosting supply by as much as some had expected.

The market has begun this week on a subdued note. Indices opened mildly lower, but are now trading flat. The Nifty manages to hold 10,800 levels. Some strength is visible among pharmaceutical names, which are currently trading higher by a percent. The IT index is also trading up a percent. Vedanta, Infosys and UltraTech Cement are the top gainers, while Tata Motors, NTPC, and BPCL have lost the most.

Market Open: Shares have begun the week on a flat note, with the Nifty holding 10,800-mark.

The Sensex is down 17.18 points at 35672.42, and the Nifty down 8.20 points at 10813.70. About 385 shares have advanced, 456 shares declined, and 56 shares are unchanged.

Infosys, Lupin, IndusInd Bank, Vedanta are the top gainers, while Dr. Reddy's, Tata Motors, ICICI Bank, RIL, Yes Bank and SBI are the top losers.

Among the sectors, auto, energy, infra are trading lower, while IT, metal and pharma gain the most.

Asian shares got the week off to a cautious start on Monday amid lingering concerns about escalating trade frictions while US oil prices maintained hefty gains made after major oil producers had agreed on a modest increase in production

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Rupee Update: The Indian rupee opened marginally lower by 6 paise at 67.90 per dollar on Monday versus 67.84 Friday.

On the daily chart, USD-INR has been falling down from last two trading sessions after taking a resistance of upper Bollinger band formation; which indicate bearish sentiments for near term.

In addition, Price has shifted below 21 DEMA on daily chart, which confirms downward trend for near term.

Moreover, a momentum indicator RSI (14) and MACD has turned down with negative crossover on daily chart.

So based on the above analysis, we expect bearish movement in USD-INR towards 67.50 levels, said Choice Broking.

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Closing Bell: Sensex up 257 pts, Nifty ends above 10,800 but market breadth in favour of bears

Closing Bell: Sensex up 257 pts, Nifty ends above 10,800 but market breadth in favour of bears.

Asian shares are trading mixed amid trade and economic concerns; OPEC meeting ahead.

Market Closing: Benchmark indices closed sharply higher led by the recovery in the last hour of trade, backed by banking & financial stocks.

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The Sensex gained 257.21 points at 35,689.60 and the Nifty rose 80.80 points to 10,821.90.

Sun Pharma, Cipla, Dr. Reddy's Labs, Bajaj Finance, Baja Finserv, M&M and Indiabulls Housing Finance rallied 2-5 percent.

HDFC, HDFC Bank, Axis Bank, SBI, ICICI Bank, Bharti Airtel, L&T and HUL gained 1-2.6 percent while RIL fell nearly 2 percent.

HPCL and UPL were under pressure.

Nifty Midcap index gained 80 points.

Hexaware, Adani Transmission, United Spirits, Ujjivan Financial, IDBI Bank, Fortis Healthcare, Can Fin Homes, Jet Airways, InterGlobe Aviation, Infibeam, Jubilant Foodworks, Bombay Dyeing, Manappuram Finance and Havells gained up to 8 percent.

NIIT Tech, Shree Renuka Sugars, Avant Feeds and PNB were under pressure.

Rupee Update: The Indian rupee appreciated further in afternoon, rising 21 paise to 67.77 against the dollar, after increased selling of the US currency by exporters and banks.

OPEC Meeting: Saudi Oil Minister Khalid Al-Falih said he proposed to increase oil supply by 1 mbpd. "1 mbpd supply will be distributed among nations based on their ability to produce."

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Roughly 2/3rd supply increases will come from OPEC countries, he said, adding OPEC will meet again in September & make adjustments as needed.

He said no one should expect immediate flood of oil.

"We support increase of 1 mbpd or less if it supports the market," Kuwait Oil Minister Bakheet Al-Rashidi said.

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Market Live: ITC, HDFC help Sensex, Nifty trade in the green; RIL, HPCL fall over 2%

Asian shares are trading mixed amid trade and economic concerns; OPEC meeting ahead.

Market Update: The market is trading mildly higher amid consolidation in afternoon, tracking positive mood in European stocks.

The Nifty is trading above 10,750 levels while FMCG and Pharma are biggest gainers among sectoral indices, rising over a percent.

The Sensex rose 64.13 points to 35,496.52 and the Nifty gained 21.90 points at 10,763.

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European markets are slightly higher, amid ongoing tensions in the energy market ahead of an OPEC meeting that could expand crude production.

 

Rupee Update: The rupee firmed up by 15 paise to 67.83 against the dollar today after increased selling of the US currency by exporters and banks. The dollar slipping from an 11-month peak against other currencies overseas as investors took profits also helped the rupee.

Further, fresh foreign capital inflows took the local currency higher but a lower opening of the domestic equity markets capped the rise, dealers said.

Yesterday, the rupee had appreciated by 10 paise to close at 67.98 against the greenback on sustained selling of the American currency by exporters and local banks.

Crude Update: Oil prices rose by more than 1 percent, pushed up by uncertainty over whether OPEC would manage to agree a production increase at a meeting in Vienna later in the day.

Brent crude futures, the international benchmark for oil prices, were at $73.96 per barrel, up 1.25 percent, from their last close.

US West Texas Intermediate (WTI) crude futures were at $66.44 a barrel, up 1.37 percent.

The Organization of the Petroleum Exporting Countries (OPEC), a producer cartel de-facto led by top exporter Saudi Arabia, is meeting together with some non-OPEC members including top producer Russia at its headquarters in the Austrian capital to discuss output policy.

The group started withholding supply in 2017 to prop up prices, reports Reuters.

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Market Opening: Benchmark indices started off the trade on a weak note Friday amid mixed Asian cues ahead of OPEC meeting decision due later in the day.

The Sensex fell 23.01 points to 35,409.38 and the Nifty declined 12.90 points to 10,728.20.

BPCL, IOC, ICICI Bank, HCL Technologies, Bajaj Finance, Dr. Reddy's Labs, Tata Steel, and ONGC are early gainers.

UPL, Grasim, Sun Pharma, Adani Ports and Reliance Industries are under pressure.

The Nifty Midcap index fell 36 points and Nifty Bank index declined 9 points.

MT Educare, Vakrangee, Manpasand Beverages, Jet Airways, Ashok Leyland and SBI Life gained 1-9 percent.

Kwality, PC Jeweller, Jaiprakash Power, Avanti Feeds, Granules India, PTC India Financial and KEC International are losers in early trade.

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Market Live: Nifty struggles below 10,800; Jhunjhunwala says 2018 is the year of consolidation

Market Live: Nifty struggles below 10,800; Jhunjhunwala says 2018 is the year of consolidation.

Asian stocks recoup morning losses to trade higher with Japan's Nikkei rising over half a percent.

Market Live: Nifty struggles below 10,800; Jhunjhunwala says 2018 is the year of consolidation

Asian stocks recoup morning losses to trade higher with Japan's Nikkei rising over half a percent.

Market Update: The market continued to consolidate amid rising fears of a global trade war started by the world's largest two economies US and China.

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The Nifty Midcap index underperformed frontliners, falling mildly while the sectoral trend remained mixed.

The 30-share BSE Sensex rose 23.19 points to 35,570.52 and the 50-share NSE Nifty gained 4.20 points at 10,776.20.

The market breadth is in favour of declines as about 1,069 shares slipped against 823 advancing shares on the BSE.

Rupee Update: The rupee slipped 12 paise to 68.20 against the US dollar due to fresh buying of the American currency by importers amid sustained foreign fund outflows.

Forex dealers said the dollar hovering near an 11-month high against a basket of currencies overseas, supported by a rise in US yields, also weighed on the rupee but a higher opening of the domestic equity markets limited the fall.

Foreign portfolio investors (FPIs) sold shares worth Rs 2,442.61 crore yesterday, as per provisional data issued by stock exchanges.

Yesterday, the local currency had staged a good comeback to end with a sharp gain of 30 paise at 68.08 against the US currency on heavy bouts of dollar selling by banks and exporters with equities gaining ground, reports PTI.

Market Opening: Benchmark indices started off the day on a positive note Thursday, tracking positive Asian cues.

The 30-share BSE Sensex rose 92.13 points to 35,639.46 and the 50-share NSE Nifty gained 25.70 points at 10,797.70.

ICICI Bank gained 1 percent.

Nifty Midcap index rose 45 points.

InterGlobe Aviation, Adani Transmission, Adani Ports, Arvind, PFC, Havells, Jubilant Foodworks, NIIT Tech, PTC India Financial, CG Power, Delta Corp, Gruh Finance and Cummins India gained 1-3 percent.

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Bank of Maharashtra, Opto Circuits, Ruchi Soya, Jindal Saw, Welspun Corp and Strides Shasun are under pressure.

Rupee Update: The Indian rupee opened lower by 12 paise at 68.19 per dollar today against previous close of 68.07.

Near-month dollar-rupee June contract on the NSE was at 68.13 in the previous session. June contract open interest declined 3.35% in the previous day, said ICICIdirect.

We expect the USD-INR to meet supply pressure at higher levels. Utilise upsides in the pair to initiate short positions, it added.

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Market Live: Sensex, Nifty Bank extend rally on further recovery in Asian peers

Market Live: Sensex, Nifty Bank extend rally on further recovery in Asian peers.

Cipla, TCS, Just Dial, ICICI Bank and Reliance Industries are most active shares on the NSE.

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Crude Update: Oil prices recovered some day-earlier losses in Asia, supported by a drop in US commercial crude inventories and the loss of storage capacity in oil producer Libya.

US crude inventories fell by 3 million barrels to 430.6 million barrels in the week to June 15, according to American Petroleum Institute (API) in a weekly report on Tuesday.

Brent crude futures rose 0.45 percent, to $75.42 per barrel, compared with their last close on Tuesday. US West Texas Intermediate (WTI) crude futures gained 0.74 percent, to $65.55, reports Reuters.

Market Update: Benchmark indices extended recovery in morning with the Sensex rising 175.58 points to 35,462.32, backed by Reliance Industries that gained 2 percent.

HDFC and HDFC Bank also pushed the market higher, rising 0.6 percent each.

The 50-share NSE Nifty rose 46.70 points to 10,757.20 while the Nifty Midcap index climbed half a percent.

Rupee Trade: The Indian rupee rebounded in morning on Wednesday, trading 25 paise higher at 68.13 against the dollar.

On Tuesday, the currency fell 40 paise to 68.38 against the dollar on sustained demand for the American currency from importers and banks amid lower local equities.

Market Opening: Benchmark indices rebounded after two-day fall on US-China trade war tensions.

The 30-share BSE Sensex rose 102.01 points to 35,388.75 and the 50-share NSE Nifty gained 37.70 points at 10,748.20.

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Cipla, Bharti Airtel, M&M, Axis Bank, Reliance Industries, Dr. Reddy's Labs, GAIL and Maruti Suzuki are early gainers.

Power Grid and UltraTech Cement are under pressure.

The Nifty Midcap index gained 80 points and Nifty Bank rose 68 points.

Strides Shasun, Prestige Estates, Vakrangee, Brigade Enterprises, Bhansali Engineering, GM Breweries, Mishra Dhatu, Wheels India, Alok Industries, Just Dial, Opto Circuits, Andhra Bank and Canara Bank gained up to 7 percent.

Bajaj Hindusthan, CG Power, Ruchi Soya and Jaiprakash Associates are under pressure.

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Market Live: Sensex extends losses amid trade war woes; IOC, HPCL, BPCL dip 3%

Market Live: Sensex extends losses amid trade war woes; IOC, HPCL, BPCL dip 3%. Asian markets are under pressure after Trump threatened new tariffs.

Asian markets are under pressure after Trump threatened new tariffs.

Market Update: The market extended losses in morning with the Nifty breaking 10,750 levels following weakness in Asian counterparts after the US President Donald Trump threatened more tariffs on Chinese products.

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The Sensex shed 164.03 points to 35,384.23 and the Nifty slipped 56.70 points to 10,743.20 while the Nifty Midcap index declined half a percent.

About two shares declined for every share rising on the BSE.

The market extended previous day's losses with the Nifty struggling below 10,800 levels as Asian counterparts are under pressure after US President Donald Trump threatened more tariffs on Chinese products. China's Shanghai Composite dropped 3 percent while Hang Seng shed 2 percent and Japan's Nikkei slipped 1 percent.

The Sensex slipped 124.80 points to 35,423.46 and the Nifty shed 46.50 points to 10,753.40.

Oil retailers HPCL, BPCL and IOC are biggest losers among Nifty50 stocks, down 3 percent each.

Market Opening: Benchmark indices started off the day on a negative note Tuesday following weakness in the Asian peers on escalated trade war tensions.

The Sensex fell 90.36 points to 35,457.90 and the Nifty declined 30.80 points to 10,769.10.

State Bank of India, HPCL, BPCL, ICICI Bank, UPL, Reliance Industries and Tata Steel are under pressure.

Dr. Reddy's Labs, Bharti Airtel, ONGC and HDFC Bank are gainers.

The Nifty Midcap index fell 85 points and Nifty Bank slipped 56 points.

UCO Bank, Dena Bank and Bank of Maharashtra gained 1-3 percent.

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Strides Shasun, Liberty Shoes, Nestle India, Gati, Hexaware Technologies, Glenmark Pharma, Tejas Networks and Mphasis gained 1-4 percent.

Balrampur Chini, PC Jeweller, CG Power, Jaiprakash Associates and GMR Infrastructure fell 1-2 percent.

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Nifty hovers around 10,800, Metal index falls 2%; Brent crude below $73/bbl

Market Live: Nifty hovers around 10,800, Metal index falls 2%; Brent crude below $73/bbl.

Asian shares declined amid the escalation in US-China trade tensions, as oil extended losses.

Market Update: The market remained in a tight range despite weakness in Asia due to escalated trade tensions between world's two largest economies US and China.

Brent crude futures traded down 1 percent to below $73 a barrel on likely increase in output in the OPEC meeting later in the week.

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Metal stocks corrected on trade tensions, with the Nifty Metal index falling 2 percent.

The 30-share BSE Sensex declined 28.60 points to 35,593.54 and the 50-share NSE Nifty slipped 4.70 points to 10,813. About 1,175 shares declined 797 shares have advanced, 1175 shares declined, and 116 shares are unchanged.

Rupee Update: The rupee weakened by 15 paise to hit a fresh three-week low of 68.16 against the US dollar in opening trade today but it cut down losses to 4 paise at 68.04 a dollar, pressured by an appreciation of the American currency overseas amid sustained foreign capital outflows.

Forex dealers said the dollar's rise towards a seven-month high against a basket of its peers, as investors absorbed the escalation in trade tensions between the US and China, weighed on the rupee. However, a higher opening in the domestic equity market capped the losses.

The rupee had closed below the key 68-mark to end at 68.01 against the US currency in the previous session on Friday after the country's trade deficit widened more than expected amid renewed global trade war fears.

Foreign portfolio investors (FPIs) sold shares worth a net Rs 1,524.74 crore on Friday, provisional data released by stock exchanges showed.

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Market Opening: Benchmark indices opened mildly lower on Monday following weakness in Asian peers amid escalated US-China trade tensions.

The Sensex slipped 16.67 points to 35,605.47 and the Nifty declined 8.00 points to 10,809.70.

BPCL, HPCL, and IOC gained 2-3 percent after further fall in crude oil prices.

Tech Mahindra, ICICI Bank, and HDFC Bank are early gainers.

Dr. Reddy's Labs fell 2 percent. Vedanta, Hindalco Industries, UltraTech Cement, Tata Steel, and ONGC are under pressure.

Nifty Midcap and Bank Nifty indices slipped 22 points each.

Jet Airways, SpiceJet, InterGlobe Aviation, Idea Cellular, TVS Motor Company, Castrol, Motherson Sumi and DCM Shriram gained up to 5 percent.

Avenue Supermarts, PVR, Vakrangee, Ruchi Soya, Dish TV, JSPL, and Nalco fell up to 5 percent.

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Market Live: Sensex mildly higher; rupee hits 3-week low; Alembic Pharma rallies

Market Live Sensex mildly higher; rupee hits 3-week low; Alembic Pharma rallies. Asian markets are cautiously mixed ahead of expected US tariffs.

Asian markets are cautiously mixed ahead of expected US tariffs.

Rupee Update: The rupee plunged by 32 paise to hit a three-week low of 67.95 against the US dollar following strong demand for the greenback amid sustained foreign capital outflows.

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Besides, the dollar strengthening against other currencies overseas as the European Central Bank (ECB) pledged to leave interest rates unchanged until mid-2019, weighed on the rupee, traders said.

 

Foreign portfolio investors (FPIs) sold shares worth Rs 1,372.84 crore yesterday, as per provisional data issued by the stock exchanges.

Yesterday, the rupee had gained 3 paise to end at 67.62 against the US currency, cutting short its two-day decline.

Market Update: The market is rangebound. Investors monitor the trade developments ahead of likely announcement of US tariffs on some Chinese goods.

The 30-share BSE Sensex fell 15.47 points to 35,584.35 and the 50-share NSE Nifty declined 1.70 points to 10,806.30. About 954 shares advanced against 687 declining shares on the BSE.

Market Opening: Benchmark indices opened on a flat note amid mixed trade in Asia ahead of likely US tariffs on select Chinese goods.

The Sensex fell 12.28 points to 35,587.54 and the Nifty slipped 1.80 points to 10,806.20.

L&T, Reliance Industries, HDFC Bank, BPCL, and IOC are under pressure.

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Dr Reddy's. Labs, TCS, Lupin, ICICI Bank, Titan Company and Maruti Suzuki gained up to 2 percent.

The nifty Midcap index is flat.

Tata Global, HDFC Standard Life, Venkys, Kesoram Industries, PVR, HOEC, Prestige Estates and LG Balakrishna gained up to 5 percent.

SBI Life, Vakrangee, Gitanjali Gems, Avenue Supermarts and Gati fell up to 5 percent.

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Nifty below 10,800, Sensex falls 200 pts; Infosys trades ex-dividend

Market Live: Nifty below 10,800, Sensex falls 200 pts; Infosys trades ex-dividend. Asian shares traded lower after Fed raises rates and signals more hikes ahead.

Buzzing: Shares of Cipla gained 2 percent as the company received final USFDA approval for Isoproterenol hydrochloride injection.

The company has received final approval for its abbreviated new drug application (ANDA) for Isoproterenol hydrochloride injection USP, 0.2mg/mL, single-use sterile Ampoule from the United States Food and Drug Administration (USFDA).

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Cipla’s Isoproterenol hydrochloride injection is AP - rated generic therapeutic equivalent version of Hospira Inc’s Isuprel injection and is indicated for the treatment of cardiac problems and heart block.

Rupee Update: The rupee appreciated by 5 paise to 67.60 against the US dollar after the American currency weakened overseas.
 

Dealers said fresh selling of the greenback by banks and exporters backed up the rupee.

The dollar turned weak against other currencies overseas even after the US Federal Reserve lifted interest rates and signaled two more hikes this year and four in 2019.

Yesterday, the domestic unit ended 16 paise down to close at a near one-week low of 67.65 against the US currency on sustained dollar demand.

Market Update: Benchmark indices extended losses in the morning as the Sensex shed 192.61 points to 35,546.55, dragged by Infosys, Reliance Industries, ICICI Bank and TCS.

The Nifty slipped below 10,800 levels, falling 63.20 points to 10,793.50.

Market Opening: Benchmark indices started off trade on a weak note after investors digested US Federal Reserve's rate hike.

The 30-share BSE Sensex fell 93.70 points to 35,645.46 and the 50-share NSE Nifty declined 35.30 points to 10,821.40.

Infosys lost 2 percent.

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Vedanta, BPCL, HPCL, IOC, SBI, Axis Bank, ICICI Bank, and Tata Steel are under pressure.

Lupin, Cipla, Aurobindo, Bharti Airtel and HDFC Bank are early gainers.

The nifty Midcap index dropped 36 points and Nifty Bank slipped 70 points.

Dish TV, Vakrangee, Granules India, gained up to 5 percent.

NBCC, Shree Renuka, Bhansali Engineering, Oberoi Realty, Mindtree, Future Consumer, SBI Life, Adani Power, Suzlon, Reliance Power, Canara Bank, PNB, Gammon Infra, Videocon and GMR Infrastructure declined up to 5 percent.

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Pharma, IT & banks push indices higher; Sensex up 100 points, Nifty around 10,850

Market Live: Pharma, IT & banks push indices higher; Sensex up 100 points, Nifty around 10,850.

All sectoral indices are trading in the green, with sharp gains seen in pharmaceuticals, IT and PSU banking space. The midcap index is trading higher by almost half a percent.

Market Check: Equity benchmarks have given up almost all of their gains from first few minutes. The Nifty is hovering around 10,850-mark. Gains are visible among frontline IT, pharma and PSU banking names while metals and infra see some weakness.  The Midcap index has also shaved off some part of its gains.

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Dr Reddy’s Labs and Lupin are among the top gainers, while Bharti Airtel, Tata Steel and Indiabulls Housing were the top losers. Among other stocks, Sun Pharma is up 3 percent after it received an establishment inspection report from US FDA for its Halol plant, while TCS is trading higher by 2 percent after it said a buyback proposal is on the cards. Page Industries, too, gained 3 percent after it said that its licensing agreement with Jockey International was extended to December 31, 2040.

Share price of Sun Pharmaceutical Industries added 3 percent in the opening trade on Wednesday as company received EIR from USFDA for its Halol facility.

The company has received the EIR (establishment inspection report) from the USFDA for the inspection conducted at its Halol facility (Gujarat, India) during the period February 12-23, 2018.

The agency concluded that the inspection is now closed and the issues contained in the warning letter issued in December 2015 have been addressed, company said in release.

Market Opens: Shares have started on a good note, with the Sensex rising over 100 point, while the Nifty is well above 10,850-mark.

All sectoral indices are trading in the green, with sharp gains seen in pharmaceuticals, IT and PSU banking space. The midcap index is trading higher by almost half a percent.

The Sensex is up 144.22 points or 0.40% at 35836.74, while the Nifty is up 31.10 points or 0.29% at 10874.00. The market breadth is positive as 314 shares advanced, against a decline of 144 shares, while 46 shares were unchanged.

Shares of Sun Pharma and TCS are the top gainers, while Airtel, Kotak Mahindra, and Zee Entertainment are the top losers. 

Rupee Update: The Indian rupee opened lower by 12 paise at 67.60 per dollar on Wednesday against previous close 67.48.

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Volatility for the USD-INR pair was confined to a narrow range in the past few sessions, but today is expected to open higher at 67.70 levels following weaker-than-expected economic numbers on the domestic front. Data released by CSO showed India’s inflation in May rose 4.87% compared to 4.53% in the previous month on back of higher fuel prices, said Motilal Oswal.

The central bank recently forecast retail inflation at 4.7% in October-March period, “with risks tilted to the upside”. On the other hand, India’s industrial production number for April rose 4.9% compared to estimates of 5.2%. Today, USD-INR pair is expected to to quote in the range of 67.45 and 67.80-67.95, it added

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Sensex up over 150 points on buying among banks, pharma names; Nifty above 10,800

Market Live: Sectors such as banks, IT and energy names have picked up pace, while midcaps too have extended their gains. Among the index gainers are Dr Reddy’s Labs, Sun Pharma, and Lupin, while Tata Steel, Power Grid, and Grasim were the top losers.

Market Check: Indices have extended their gains from the opening minutes, with the Sensex rising over 100 points, while the Nifty is trading well above 10,800-mark. 

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The Sensex is up 99.83 points or 0.28% at 35583.30, and the Nifty up 26.20 points or 0.24% at 10813.20. The market breadth is positive as 1109 shares advanced against a decline of 779 shares, while 104 shares were unchanged.

Dr. Reddy’s, TCS and Lupin were the top gainers, while Tata Steel, Maruti Suzuki, and Hindalco lost the most.
 

Shares of Manappuram Finance gained over a percent in the morning trade as investors bet on the stock ahead of its Board Meeting.

The company’s Board will be meeting on June 14 in a bid to consider issuance of non-convertible debentures (NCDs) on a private placement basis.

It was in the news recently after it declared its financial results. The company reported a fall of 9.2 percent in its net profit at Rs 182.17 crore in the last quarter ended March 2018. The company had registered a net profit of Rs 200.58 crore in the same quarter of the preceding fiscal.

The dollar jumped to a 3-week top on Tuesday while Asian shares started cautiously as investors were hopeful of a positive outcome from a highly anticipated US-Korea summit, which could set the stage for ending a nuclear stand-off on the Korean peninsula.

Japan's Nikkei climbed 0.8 percent to the highest in three weeks and South Korean shares added 0.1 percent. Australia's benchmark index was a tad firmer while New Zealand eased 0.3 percent.

That left MSCI's broadest index of Asia-Pacific shares outside Japan a touch softer at 573.31.

Market Opens: Benchmark indices began trading on a mildly higher note, with the Nifty holding 10,800-mark in the opening tick

The Sensex is up 43.18 points or 0.12% at 35526.65, while the Nifty is up 14.50 points or 0.13% at 10801.50. The market breadth is positive as 481 shares advanced, against a decline of 334 shares, while 68 shares were unchanged.

All sectoral indices are trading flat, with maximum gains visible in pharmaceutical names. Midcaps, too, is trading flat; the Nifty Midcap index is up over one-tenth of a percent.

Dr. Reddy’s Labs, Wipro, and IOC were the top gainers, while Tata Steel, Infosys, and UPL have lost the most. 

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Rupee Update: The Indian rupee opened marginally lower at 67.45 per dollar on Tuesday versus previous close 67.42.

In the last couple of session, rupee has been consolidating in a narrow range of 64.40 and 64.75 ahead of important inflation and industrial production number. Market participants are cautious ahead of today’s inflation and IIP number; the expectation is that inflation for May could rise to 4.8% compared to rising of 4.5% in the previous month, said Motilal Oswal.

On the other hand, industrial production could rise 5.2% in April compared to growth of 4.4% in the previous month. Today, USD-INR pair is expected to quote in the range of 67.45 and 67.85, it added.

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Sensex up over 150 pts, Nifty above 10,820; banks see big gains

Market Live: Sensex up over 150 pts, Nifty above 10,820; banks see big gains. Among sectoral indices, pharma, metals and IT stocks are trading higher, while midcaps, too, are seeing good gains.

Among sectoral indices, pharma, metals and IT stocks are trading higher, while midcaps, too, are seeing good gains.

The market is witnessing good gains post its opening, with the Nifty trading well above 10,800-mark, while the Sensex is up over 150 points. The market breadth currently favours the advances. Midcap index is seeing a strong surge, gaining almost a percent on the Nifty, while sectoral indices such as PSU banks, pharma, infra, and energy are the biggest gainers.

Bharti Airtel, Dr. Reddy’s Labs, and Sun Pharma are the top gainers, while Power Grid and Tata Motors have lost the most. Avenue Supermarts, the operator of DMart chain of outlets, touched a market capitalization of Rs 1 lakh crore on Monday morning. The stock managed to gain 2 percent.

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Market Opens: Shares have begun the week on a positive note, with the Nifty trading eyeing 10,800-mark.

The Sensex is up 46.03 points or 0.13% at 35489.70, and the Nifty up 15.50 points or 0.14% at 10783.20. The market breadth is positive as 393 shares advanced, against a decline of 151 shares, while 60 shares are unchanged.

Among sectoral indices, pharma, metals and IT stocks are trading higher, while midcaps, too, are seeing good gains.
 

Dr. Reddy’s Labs, Adani Ports, Bajaj Finance and HCL Tech are the top gainers, while ICICI Bank, HUL, and Axis Bank have lost the most.

Asian stocks moved gingerly as a weekend G7 summit fanned trade conflict fears after US President Donald Trump backed out of a joint communique in a blow to the group’s efforts to show a united front.

Trump’s reversal, announced while he was en route to Singapore for a meeting with North Korean leader Kim Jong Un, sent his Group of Seven partners scrambling.

“The G7 meeting in Canada reiterated the growing rift between Washington and its allies over free trade,” wrote Tai Hui, chief market strategist for the Asia Pacific at J.P. Morgan Asset Management.

“Business confidence, and subsequently capital spending, is at risk if this tension continues through the summer,” he said, adding that central bank meetings will be critical events this week.

Rupee Update: The Indian rupee opened with a marginal gain of 4 paise at 67.46 per dollar on Monday versus previous close 67.50.

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Rupee, on Friday, came under pressure against the US dollar after global crude oil prices continued its uptrend. But in the late half of the session crude prices came under pressure as US oil drilling activity rose to its highest level since March 2015, while increasing output in Russia also weighed on the market, said Motilal Oswal.

On the domestic front, market participants will be keeping an eye on inflation and industrial production number. The expectation is that inflation for May could rise to 4.8% compared to rising of 4.5% in the previous month.

Today, USD-INR pair is expected to quote in the range of 67.45 and 67.85. Volatility for the pair could be confined to a narrow range ahead of the important global economic events scheduled for this week, it added.

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Market Live: Sensex, Nifty off the day’s low points; pharma stocks see a surge

Market Live: Sensex, Nifty off the day’s low points; pharma stocks see a surge. Tepid global cues, weak rupee and rising crude and bond yields have a negative impact on the market.

Tepid global cues, weak rupee and rising crude and bond yields have a negative impact on the market.

Market Check: The market has continued to trade weak, with the Sensex falling around 100 points, while the Nifty hovers around 10,750-mark. Major sectoral indices are trading in the red. But pharmaceutical names are surging in today’s trade. The Nifty Pharma index is up over 2 percent. Midcap index, meanwhile, is trading flat. Dr. Reddy’s Labs is trading higher by over 2 percent. Sun Pharma and Cipla are the other top gainers, while Power Grid, HPCL, and M&M have lost the most.

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Equity benchmarks are off the day’s low points, with the Nifty hovering near 10,750, while the Sensex is down around 50 points.
 

The Sensex is down 53.47 points or 0.15% at 35409.61, while the Nifty is down 19.30 points or 0.18% at 10749.10. The market breadth is narrow as 973 shares have advanced, against a decline of 877 shares, while 96 shares are unchanged.

Sun Pharma and Dr. Reddy’s Labs are the top gainers, while Power Grid, ICICI Bank, and BPCL are the top losers.

Market Opens: Equity benchmarks have begun the day on a lower note, tracking negative global cues along with domestic issues of higher bond yields, crude prices as well as the weak rupee.

The Sensex is down 132.72 points or 0.37% at 35330.36, while the Nifty is lower by 45.60 points or 0.42% at 10722.80. The market breadth is in favor of the declines as 346 shares have advanced against a fall of 668 shares, while 68 shares are unchanged.

Shares of oil marketing companies (OMCs) are trading lower on the back of higher crude prices. Indian Oil, HPCL, and BPCL are trading up to 2 percent lower.

Dr. Reddy’s Labs, Tata Motors, and Tech Mahindra are the top gainers, while Power Grid, Asian Paints, BPCL, and HPCL have lost the most.

Rupee Update: The Indian rupee slipped in the early trade on Friday. It has opened lower by 34 paise at 67.46 per dollar versus 67.12 yesterday.

The rupee fell in the second half of the session following broad strength in the dollar against its major crosses an uptick in global crude oil prices. Yesterday, oil prices rose following reports that Venezuela is nearly a month behind delivering crude to customers from its main oil export terminals. In the recent past, it has been observed that higher crude oil prices have weighed on the rupee, said Motilal Oswal.

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Today, USDINR pair is to quote in the range of 67.35 and 67.80. On the domestic front, market participants will be keeping an eye on inflation and industrial production number that will be released earlier next week.

The expectation is that inflation in May could inch higher that could further weigh on the currency, it added.

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Market Live: Nifty gains nearly 100 pts; Sensex up over 300 points; Axis Bank, ICICI Bank lead gainer

Market Live: Nifty gains nearly 100 pts; Sensex up over 300 points; Axis Bank, ICICI Bank lead gainer.

All sectoral indices are trading in the green, with maximum gains coming in from banks, metals as well as automobiles.

Rupee Update: The rupee depreciated by 17 paise to 67.09 against the US dollar in early trade today after RBI's rate hike amid fresh demand for the American unit from importers and banks.

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Yesterday, the RBI hiked the policy rate for the first time in over four years - by 0.25 per cent - to curb inflationary pressures from high oil prices.

Weakness in the US dollar against other currencies, including the euro, limited the rupee's fall, analysts said

Market Update: The benchmark indices trading strong with Nifty gaining nearly 100 points and Sensex above 35,500. The realty index outperform the sectoral indices with over 2 percent gain.

The Sensex is up 324.51 points or 0.92% at 35503.39, and the Nifty up 94.30 points at 10779.00.

About 1710 shares have advanced, 463 shares declined, and 98 shares are unchanged.

Market Opens: It has been a good start to the market, with the Sensex rising over 150 points in the opening tick, while the Nifty opened above 10,700-mark.

The Sensex is up 155.26 points or 0.44% at 35334.14, while the Nifty is up 46.20 points or 0.43% at 10730.90. The market breadth is positive as 256 shares have advanced, against a decline of 72 shares, while 38 shares are unchanged.

All sectoral indices are trading in the green, with maximum gains coming in from banks, metals as well as automobiles. Midcaps, too, have seen a strong start; Nifty Midcap index is up over half a percent this morning.

ICICI Bank, IndusInd Bank, and Hindalco gained the most on both indices, while Wipro, Coal India, and Bharti Airtel have lost the most.

Rupee Update: The Indian rupee opened flat at 66.93 per dollar on Thursday against previous close 66.92.

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Near-month dollar-rupee June contract on the NSE was at 67.08 in the previous session. June contract open interest declined 2.11% in the previous day.

We expect the USD-INR to find supports at lower levels. Utilise downsides in the pair to initiate long positions, said ICICIdirect.

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Market Live: Sensex extends gains to 150 points, Nifty above 10,600; midcaps up almost 1%

Market Live: Sensex extends gains to 150 points, Nifty above 10,600; midcaps up almost 1%. Investors are looking for cues ahead of RBI policy meet outcome later in the day.

Investors are looking for cues ahead of RBI policy meet outcome later in the day.

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Benchmarks have extended their gains now, with the Sensex trading over 100 points higher, while the Nifty is well above 10,600-mark. A sudden spike is seen in metals, pharmaceuticals, as well as midcaps too. The Nifty Auto index is also trading higher by almost half a percent. Reliance Industries, HDFC and L&T are contributing to gains on Sensex and Nifty, while HDFC Bank, ICICI Bank and IOC are looking to cap the upside.

Market Opens: D-Street has begun the session on a flat note, but with a positive bias, even as investors look for cues ahead of Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) meet outcome later in the day. 

The Sensex is up 51.86 points or 0.15% at 34955.07, and the is Nifty up 13.10 points or 0.12% at 10606.30. About 232 shares advanced against a decline of 291 shares, while 48 shares were unchanged.

All sectoral indices on the Nifty are largely trading in the flat terrain, while some weakness is seen in the financial names, possibly on a caution note ahead of central bank’s meet outcome.

Coal India, Sun Pharma, and Bajaj Finance are the top gainers, while Power Grid, Airtel and Zee Entertainment have lost the most.

Among global markets, Asian stocks edged up after tech sector strength lifted Wall Street shares, while concerns about Italy's debt prompted investors to move into lower-risk government debt elsewhere, pushing U.S. Treasury yields down from recent highs.

Meanwhile, US stocks mostly edged higher on Tuesday as technology shares extended recent gains while U.S. Treasury yields fell on safe-haven buying after Italy's new prime minister outlined new economic policies that could add to the nation's debt

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Rupee opens higher: The Indian rupee opened higher by 7 paise at 67.08 per dollar on Wednesday versus 67.15 yesterday.

In the last few sessions rupee is consolidating in a range of 66.90 and 67.35 as most market participants are cautious ahead of the important RBI policy statement that will be released later today. Expectation is that the central bank could hold rates but at the same time could change its stance from ‘Neutral’ to ‘Hawkish’, said motilal Oswal.

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