Tag: Sensex

Post Session: Sensex slips 180 pts to close below 31K; rate sensitive stocks drag

Weighed down by sharp losses in rate sensitive realty and bank stocks, the Indian equities ended lower for the second straight session on Tuesday, tracking mixed cues from Asian market. On the sectoral front, banking stocks emerged as top losers after rating agency raised concerns over mounting loan-loss provisioning and said that banks will have to sacrifice nearly 60 per cent of the value of the loans extended to the 12 indebted companies recognized by the RBI. Reacting to the news, index heavyweights, PNB, Bank of Baroda, SBI, Axis Bank and Federal Bank, fell between 4.5 per cent to 2 per cent.

The 30-share barometer SENSEX closed at 30958.25, down by 179.96 points or by 0.58 per cent, and then NSE Nifty ended at 9511.4, down by 63.55 points or by 0.66 per cent.

In line with benchmark indices, the broader markets witnessed sharp selling with BSE MIDCAP falling 114.93 points, or by 0.79 per cent to settle at 14468.88, while the BSE SMLCAP ended at 15141.08, down by 240.82 points or by 1.57 per cent.

During the day’s trade, Sensex touched an intraday high of 31294.96 and intraday low of 30847.08, while the NSE Nifty touched intraday high of 9615.4 and intraday low of 9473.45.

The top losers of the BSE Sensex pack were State Bank of India (Rs. 279.40,-3.27%), Axis Bank Ltd. (Rs. 492.80,-2.34%), Infosys Ltd. (Rs. 926.35,-1.80%), Asian Paints Ltd. (Rs. 1134.00,-1.73%), Bajaj Auto Ltd. (Rs. 2779.20,-1.61%), among others.

On the flip side, Bharti Airtel Ltd. (Rs. 371.80,+1.61%), Oil And Natural Gas Corporation Ltd. (Rs. 159.95,+1.23%), Hero MotoCorp Ltd. (Rs. 3695.95,+0.97%), Tata Steel Ltd. (Rs. 510.45,+0.60%), Adani Ports & Special Economic Zone Ltd. (Rs. 367.25,+0.56%), were among the top gainers on the BSE.

On the sectoral front, all the indices ended bleeding in red, barring consumer durables, while rate sensitive bank and realty stocks emerged as top losers, falling as much as 1.45 per cent and 1.4 per cent respectively.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2967, shares advanced were 808 while 1979 shares declined and 180 were unchanged.


27/06/2017 16:07

Post Session: Sensex, Nifty end flat in choppy trade; oil&gas, realty stocks drag

The Indian equities ended flat in a volatile trading session on Thursday, tracking mixed cues from Asian market, weighed down by sharp selling in oil and gas and realty stocks. The BSE Sensex opened higher today and surged 211 points to hit an all-time high of 31,522.87, but pared all the gains to close flat at 31,290, as investors pressed sell button in the final hour of the trade amid weak European cues.

The 30-share barometer SENSEX closed at 31290.74, up by 7.1 points or by 0.02 per cent, while the NSE Nifty ended at 9630, down by 3.6 points or by 0.04 per cent.

Early today, the benchmark indices witnessed surge in buying activity after capital market regulator Sebi eased takeover norms for restructuring listed companies with stressed assets, a move which will further boost fight against bad loan.

During the day’s trade, Sensex touched an intraday high of 31522.87 and intraday low of 31255.63, while the NSE Nifty touched intraday high of 9698.85 and intraday low of 9617.75.

The top gainers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 538.70,+2.03%), State Bank of India (Rs. 294.55,+1.50%), Housing Development Finance Corporation Ltd. (Rs. 1650.35,+1.41%), Reliance Industries Ltd. (Rs. 1433.15,+1.06%), Bajaj Auto Ltd. (Rs. 2850.00,+1.02%), among others.

On the flip side, Oil And Natural Gas Corporation Ltd. (Rs. 160.50,-2.82%), Hindustan Unilever Ltd. (Rs. 1094.25,-2.62%), Lupin Ltd. (Rs. 1066.95,-2.49%), Power Grid Corporation of India Ltd. (Rs. 201.60,-2.11%), Dr. Reddy’s Laboratories Ltd. (Rs. 2629.45,-2.05%), were among the top losers on the BSE.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 3009, shares advanced were 1215 while 1620 shares declined and 174 were unchanged.


22/06/2017 16:05

Cardamom futures slip 2.29% on sluggish demand

Cardamom futures slip 2.29% on sluggish demand

20/06/2017 17:17

Cardamom futures fell over 2 per cent during evening trade in the domestic market on Tuesday as investors and speculators exited their positions in the agri-commodity on plunge in physical demand for cardamom in the domestic spot market. Further, sufficient supplies on higher physical arrivals from the major cardamom producing regions, influenced the downward trend in the domestic cardamom prices. At the MCX, cardamom futures for July 2017 contract is trading at Rs 1047 per kg, down by 2.29 per cent, after opening at Rs 1103.60, against a previous close of Rs 1071.50. It touched the intra-day low of Rs 1039 (at 17:17 hours).

Post Session: Sensex, Nifty end flat in choppy trade; IT, pharma stocks drag

16/06/2017 16:24

The Indian equities ended tad lower in choppy trade on Friday, undermining firm cues from Asian peers, as investors digested the US Federal rates hike, while reports that the Bank of England came close to raise U.K. interest rates also left traders jittery. Most of the Asian markets closed higher as the Bank of Japan maintained status quo in its latest policy review. IT, Teck and pharma stocks witnessed selling pressure amid concerns over earnings outlook. IT bellwether Infosys dipped over 1 per cent after the company announced that Sandeep Dadlani, the head of Americas and global head of manufacturing and retail, has resigned from his post.

The 30-share barometer SENSEX closed at 31056.4, down by 19.33 points or by 0.06 per cent, and the NSE Nifty ended at 9588.05, up by 10 points or by 0.1 per cent.

During the day’s trade, Sensex touched an intraday high of 31182.73 and intraday low of 31017.18, while the NSE Nifty touched intraday high of 9615.85 and intraday low of 9565.5.

The top losers of the BSE Sensex pack were Lupin Ltd. (Rs. 1131.00,-4.40%), Sun Pharmaceutical Industries Ltd. (Rs. 529.15,-2.78%), Wipro Ltd. (Rs. 254.95,-2.24%), Cipla Ltd. (Rs. 537.05,-2.20%), Infosys Ltd. (Rs. 940.50,-1.24%), among others.

On the flip side, Tata Motors Ltd. (Rs. 455.50,+1.57%), ITC Ltd. (Rs. 306.30,+1.46%), Adani Ports & Special Economic Zone Ltd. (Rs. 362.65,+0.67%), State Bank of India (Rs. 285.85,+0.63%), NTPC Ltd. (Rs. 160.25,+0.53%), were among the top gainers on the BSE.

Among the sectors, healthcare and IT stocks emerged as top losers, falling as much as 1.52 per cent and 0.83 per cent, respectively.

The Market breadth, indicating the overall strength of the market, was flat. On BSE out of total shares traded 2994, shares advanced were 1427 while 1400 shares declined and 167 were unchanged.

Farmers ask Govt to roll back 5% GST on raw tobacco

13/06/2017 15:46

A farmers’ association has asked the government to roll back 5 per cent GST on raw tobacco and exempt it from the tax bracket like any other agricultural crop, reported PTI.

Fearing drop in prices of tobacco leaves and raw tobacco post GST, tobacco farmers across Andhra Pradesh have stalled auctions in all platforms, said the Federation of All India Farmer Associations (FAIFA) in a statement.

Terming the tax rate on tobacco “unrealistic”, farmers said it will severely endanger their livelihoods and asked the government to do away with it in the upcoming GST-Review meeting on June 18.

“Farmers from different auction platforms in the Southern Black Soil (SBS) region decided not to bring our produce to the market to protest 5 per cent GST on tobacco leaves and 28 per cent on unmanufactured tobacco,” said FAIFA Vice President Gadde Seshagiri Rao.

According to FAIFA, raw tobacco and un-manufactured tobacco were exempted from the central excise from the time of Charan Singh government considering their difficulties.

The association has requested to “maintain status quo” in this regard by treating tobacco “on par with other agricultural crops”.

FAIFA claims to represent farmers of commercial crops from Andhra Pradesh, Telangana, Karnataka, Gujarat etc.

Post Session: Sensex, Nifty end flat; IT, Teck stocks drag

13/06/2017 15:53

Hit by foreign capital outflows, the Indian equities ended flat with marginal gains on Tuesday as caution prevailed in the market ahead of the US Federal Reserve’s two-day policy meeting decision. Some concerns also came with the private report that farm loan waivers are populist actions and frequent occurrence of such populist actions may lead to risks of impaired credit discipline and weak risk-reward for banks and reduced credit availability for borrowers. IT and Teck stocks witnessed hefty selling, falling nearly 1 per cent each, taking cues from Wall Street which was dragged lower by technology stocks.

The 30-share barometer SENSEX closed at 31103.49, up by 7.79 points or by 0.03 per cent, while the NSE Nifty ended at 9606.9, down by 9.5 points or by 0.1 per cent.

During the day’s trade, Sensex touched an intraday high of 31260.77 and intraday low of 31062.34, while the NSE Nifty touched intraday high of 9654.15 and intraday low of 9595.4.

The top gainers of the BSE Sensex pack were Power Grid Corporation of India Ltd. (Rs. 210.00,+1.94%), Lupin Ltd. (Rs. 1177.40,+1.73%), Housing Development Finance Corporation Ltd. (Rs. 1668.45,+1.52%), NTPC Ltd. (Rs. 160.00,+1.27%), Adani Ports & Special Economic Zone Ltd. (Rs. 359.50,+0.67%), among others.

On the flip side, Tata Motors Ltd. (Rs. 449.60,-1.51%), Tata Consultancy Services Ltd. (Rs. 2453.40,-1.47%), Wipro Ltd. (Rs. 259.35,-1.44%), Hero MotoCorp Ltd. (Rs. 3750.00,-0.65%), Mahindra & Mahindra Ltd. (Rs. 1415.00,-0.65%), were among the top losers on the BSE.

Among the sectors, power and realty stocks emerged as top gainers, rising as much as 0.78 per cent and 0.75 per cent, respectively.

The Market breadth, indicating the overall strength of the market, was flat. On BSE out of total shares traded 3024, shares advanced were 1416 while 1395 shares declined and 213 were unchanged.

Mentha oil futures climb 1.40% on upsurge in demand

Mentha oil futures climb 1.40% on upsurge in demand

09/06/2017 17:02

Mentha oil futures were trading higher during evening trade in the domestic market on Friday as investors and speculators extended their positions in the agri-commodity amid upsurge in physical demand for mentha oil from major consuming industries in the domestic spot market.

Further, widening of positions by traders in the spot market was led by a rise in physical demand for mentha oil from consuming industries at the domestic spot market against insufficient stocks position on restricted supplies from producing regions, supported mentha oil prices at futures trade.

At the MCX, mentha oil futures for June 2017 contract is trading at Rs 919.60 per kg, up by 1.40 per cent, after opening at Rs 912, against a previous close of Rs 906.90. It touched the intra-day high of Rs 927 (at 17:01 hours).

India’s crude steel output up 4.5% in Apr-May FY18

India’s crude steel output up 4.5% in Apr-May FY18

06/06/2017 16:56

India produced 16.391 million tonne (MT) of crude steel in the first two months of the current fiscal, up 4.5 per cent year-on-year.

It had produced 15.683 MT in the same period of last fiscal.

Output in May was 8.163 MT, up 2.2 per cent, from 7.989 MT a year ago, as per the latest Joint Plant Committee (JPC) report.

However, on month-on-month basis, it was down 0.8 per cent over April, when the country had produced 8.228 MT.

“SAIL, RINL, TSL, Essar, JSWL and JSPL together produced 9.292 MT during April-May 2017, which was a growth of 8 per cent over same period of last year,” it said, adding “the rest 7.099 MT came from the other producers”.

Production for sale of total finished steel during the two-month stood rose 6.7 per cent to 17.546 MT from 16.248 MT in same period of last year.

In May, the country registered 4.4 per cent rise its production for sale of total finished steel to 9.066 MT, from 8.681 MT last.

India has been doing good in terms of exports and maintained the momentum during the second consecutive month of the ongoing fiscal.

The export of total finished steel was 69 per cent up at 0.641 MT in May, as against 0.379 MT in same month last year. However when compared to April 2017, it is a contraction of 14 per cent.

The imports stood at 0.558 MT against 0.545 MT, up 2.4 per cent over the May 2016. On month-on-month basis, it grew 10 per cent.

During the April-May period, exports grew 102 per cent to 1.387 MT and imports fell 11.4 per cent to 1.062 MT.

The country remained a net exporter of total finished steel in May as well as the first two month period of 2017-18.

India’s consumption of total finished steel saw a growth of 4.2 per cent in April-May 2017 (13.785 mt) over same period of last year, under the influence of a rising production for sale.

The overall consumption in May was at 7.491 MT, up 19 per cent over April 2017 and was up by 1 per cent over May 2016.

India is the third largest producer of crude steel after China and Japan.

The government is taking various measures and initiatives to promote the domestic steel sector and raise capacity. On May 3, the Cabinet gave nod to a new policy which aims to achieve steel making capacity of 300 MT by 2030 with an additional investment of Rs 10 lakh crore.

The same day, the government approved a policy for providing preference to domestically manufactured iron and steel products in procurement by the government and its agencies.

Sonalika sales up 26 % to 8,335 units in May

06/06/2017 17:08

Tractor maker Sonalika today posted 26.2 per cent rise in sales at 8,335 units in May as compared with 6,604 units during the same period of the previous fiscal.

During the period under review, the company sold 7,267 units in the domestic market, clocking an increase of 26.6 per cent from the previous fiscal, Sonalika Tractors said in a statement.

Exports during the month grew by 23.3 per cent at 1,068 units, it added.

Sonalika ITL Executive Director Raman Mittal said: “With a positive industry outlook and expected good monsoon this year, we endeavour to walk on this growth track in the future and aim to grow in double digits on a month-on-month basis.”

Sonalika Tractors sells a range of tractors from 20HP to 120HP in over 80 countries, including 25 European countries.

Zinc futures in reverse gear on global cues

Zinc futures in reverse gear on global cues

06/06/2017 16:34

Zinc futures were trading lower during evening trade in the domestic market on Tuesday as investors and speculators exited their positions in the industrial metal on signs of slowing growth in China and the United States.

Besides, tracking weakness in the steel markets, too influenced zinc prices at futures trade.

US services sector activity slowed last month as new orders tumbled, while China’s economy likely to remain on a stable footing last month, supported by solid gains in trade and investment as economic ties with the US take a positive turn and infrastructure spending cushions domestic growth.

At the MCX, zinc futures for June 2017 contract is trading at Rs 160 per kg, down by 0.16 per cent, after opening at Rs 160.85, against a previous close of Rs 160.25. It touched the intra-day low of Rs 158.90 (at 16:27 hours).