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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