Tag: Stock market

Aluminium futures up 0.29% on upbeat demand

Aluminium futures up 0.29% on upbeat demand

31/07/2017 14:09

Aluminium futures were trading higher during the noon trade in the domestic market on Monday taking positive cues from spot market on pick-up in demand.

Analysts said widening of positions by participants due to pick up in demand from consuming industries in the spot market mainly influenced aluminium prices at futures trade.

At the MCX, aluminium futures for July 2017 contract is trading at Rs 121.50 per kg, up by 0.29 per cent, after opening at Rs 121.35, against a previous close of Rs 121.15. It touched the intra-day high of Rs 122.05 (at 14:15 hours).

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Markets trade flat; metal, healthcare stocks up

05/07/2017 13:27

Indian equity benchmarks were trading in a narrow range with positive bias during the afternoon session on Wednesday led by buying activity mainly in the metal and healthcare sector stocks.

At 1:03 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 31,214.86 up by 5.07 points or 0.02 per cent while the NSE Nifty was at 9,624.05 up by 10.75 points or 0.11 per cent.

Besides, investors keenly eyed the June quarter corporate earnings that will begin next week.

The top gainers of the BSE Sensex pack were Lupin Ltd. (Rs. 1076.55,+3.10%), Mahindra & Mahindra Ltd. (Rs. 1385.65,+2.28%), Reliance Industries Ltd. (Rs. 1441.45,+1.32%), Asian Paints Ltd. (Rs. 1120.60,+1.07%), Dr. Reddy’s Laboratories Ltd. (Rs. 2657.00,+1.01%), among others.

Major show spoilers were ITC Ltd. (Rs. 332.20,-1.45%), Infosys Ltd. (Rs. 949.55,-1.14%), Bharti Airtel Ltd. (Rs. 375.70,-0.95%), Housing Development Finance Corporation Ltd. (Rs. 1628.05,-0.75%), Wipro Ltd. (Rs. 258.00,-0.73%), among others.

The market breadth, indicating the overall strength of the market, was positive. On BSE, out of the total 2725 shares traded, 1628 advanced while 954 shares declined and 143 remained unchanged.

On the global front, Asian markets were green, however, caution prevailed as Independence Day celebrations in the US kept trading activity muted and geopolitical tensions continue to heat up.

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

Zinc futures slip 1% on global cues

13/06/2017 16:16

Zinc futures fell 1 per cent during evening trade in the domestic market on Tuesday as investors and speculators exited their positions in the industrial metal ahead of the US Fed’s policy meeting that kicks off later in the day, which could provide further clues over the timing of interest rate hikes this year.

Further, the central bank is widely expected to raise interest rates at its two-day meeting. Meanwhile, the focus will be on any fresh hints on the pace of further tightening in the months to come and next year, and any further details on its plans for trimming its balance sheet.

At the MCX, zinc futures for June 2017 contract is trading at Rs 157.75 per kg, down by 1 per cent, after opening at Rs 159.40, against a previous close of Rs 159.35. It touched the intra-day low of Rs 157.35 (at 16:17 hours).

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.

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).

Post Session: Sensex falls 119 points; Nifty settles below 9650

06/06/2017 16:15

Indian benchmark indices settled the day on a negative note today as traders preferred profit booking ahead of outcome of two-day monetary policy committee meeting that is due on Wednesday.

According to analysts, the Reserve Bank of India (RBI) will likely strike a less hawkish tone while leaving interest rates unchanged at a policy meeting tomorrow, as inflation is running well below forecasts, and the economy has slowed more than expected.

The 30-share barometer index of Bombay Stock Exchange, Sensex closed trade at 31190.56, down by 118.93 points or by 0.38 per cent, and the NSE Nifty ended at 9637.15, down by 37.95 points or by 0.39 per cent.

During the day’s trade, Sensex touched intraday high of 31430.32 and intraday low of 31172.55, while the NSE Nifty touched intraday high of 9709.3 and intraday low of 9630.2.

Major laggards on the D-street included, Tata Motors Ltd. (Rs. 460.90,-3.58%), NTPC Ltd. (Rs. 158.25,-2.65%), Oil And Natural Gas Corporation Ltd. (Rs. 171.50,-2.28%), ITC Ltd. (Rs. 311.00,-2.05%), Larsen & Toubro Ltd. (Rs. 1775.80,-1.60%), among others.

However, some buying was witnessed in Tata Consultancy Services Ltd. (Rs. 2695.40,+3.63%), Infosys Ltd. (Rs. 979.45,+2.00%), Wipro Ltd. (Rs. 560.65,+0.91%), Dr. Reddy’s Laboratories Ltd. (Rs. 2550.35,+0.61%), Adani Ports & Special Economic Zone Ltd. (Rs. 361.85,+0.26%), among others.

On the sectoral front, consumer durables and power stocks emerged as major losers, falling as much as 2.01 per cent and 1.62 per cent respectively.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 3029, shares advanced were 1006 while 1846 shares declined and 177 were unchanged.

Subdued trade continues at D-Street; RCom sinks over 18%

29/05/2017 13:41

Indian equity benchmarks were trading in a narrow range with positive bias during the afternoon session on Monday led by continued buying by investors mainly in the FMCG and consumer durables sector stocks amid mixed cues from fellow Asian peers after latest missile test conducted by North Korea.

At 1:01 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 31,083.44 up by 55.23 points or 0.18 per cent while the NSE Nifty was at 9,601.65 up by 6.55 points or 0.07 per cent.

However, shares of Reliance Communications Ltd (RCom) plunged nearly 18.41 per cent after it has reported its consolidated net loss after taxes at Rs 948 crore for the January-March quarter of FY17, against net profit of Rs 79 crore during the same period a year ago, hit by Reliance Jio free offers, disruptive pricing and unprecedented competitive intensity in the industry.

The top gainers of the BSE Sensex pack were Hindustan Unilever Ltd. (Rs. 1069.00,+2.72%), ITC Ltd. (Rs. 316.55,+2.56%), Housing Development Finance Corporation Ltd. (Rs. 1587.00,+2.53%), Cipla Ltd. (Rs. 503.00,+2.32%), Maruti Suzuki India Ltd. (Rs. 7166.20,+1.31%), among others.

Major show spoilers were Sun Pharmaceutical Industries Ltd. (Rs. 508.20,-10.61%), Adani Ports & Special Economic Zone Ltd. (Rs. 328.50,-5.32%), ICICI Bank Ltd. (Rs. 316.00,-1.76%), Infosys Ltd. (Rs. 980.60,-1.57%), Wipro Ltd. (Rs. 532.25,-1.23%), among others.

The market breadth, indicating the overall strength of the market, was weak. On BSE, out of the total 2,772 shares traded, 924 advanced while 1,679 shares declined and 169 remained unchanged.

Post Session: Fabulous Friday for markets; Sensex hits 31,000 for the first time

26/05/2017 16:22

The Indian equities continued gaining streak for the second day, with benchmarks Sensex and Nifty closing at record high in a broad-based rally, as investors gave thumbs-up to Narendra Modi-led NDA government’s three years in office. Adding to it, reports of increase in pre-monsoon showers across the India, which gives a glimpse of the arrival of monsoon 2017 sooner-than-later, also gave a lift to market sentiment. The market rally was also supported by sustained fund inflows and strong corporate earnings by frontline bluchip such as ITC, HPCL. ITC jumped 3 per cent after FMCG major reported a 12.13 per cent growth in its standalone net profit at Rs 2,669.47 crore for the fourth quarter ended March 31, 2017, helped by spurt in revenue from cigarette segment.

The 30-share barometer SENSEX closed at a new high of 31028.21, up by 278.18 points or by 0.9 per cent, and then NSE Nifty settled at 9595.1, up by 85.35 points or by 0.9 per cent.

In the bullish trade, Sensex touched an intraday high of 31074.07 and intraday low of 30745.57, while the NSE Nifty touched intraday high of 9604.9 and intraday low of 9495.4.

HPCL rallied over 11 per cent after the state-run oil marketing company reported a 31.04 per cent growth in its standalone net profit at Rs 1,818.79 crore for the fourth quarter ended March 31, 2017.

The top gainers of the BSE Sensex pack were Tata Steel Ltd. (Rs. 511.80,+5.46%), ITC Ltd. (Rs. 308.65,+2.99%), Power Grid Corporation of India Ltd. (Rs. 203.80,+2.57%), Reliance Industries Ltd. (Rs. 1335.80,+2.53%), Adani Ports & Special Economic Zone Ltd. (Rs. 346.95,+1.82%), among others.

On the flip side, Sun Pharmaceutical Industries Ltd. (Rs. 568.55,-3.93%), Cipla Ltd. (Rs. 491.60,-2.48%), Lupin Ltd. (Rs. 1111.90,-2.29%), Tata Consultancy Services Ltd. (Rs. 2579.30,-1.55%), Dr. Reddy’s Laboratories Ltd. (Rs. 2411.70,-0.64%), were among the top losers on the BSE.

Among the sectors, all the indices ended in green, barring healthcare, while metal and oil&gas stocks emerged as top gainers, rising as much as 3.4 per cent and 2.08 per cent, respectively.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 3032, shares advanced were 1926 while 905 shares declined and 201 were unchanged.

Tax burden on gold should reduce under GST regime: WGC

Tax burden on gold should reduce under GST regime: WGC

25/05/2017 17:17

The World Gold Council today urged the government to reduce the tax incidence on gold and gold products under the new Goods and Sevices Tax regime.

“In the GST regime, we urge and expect that the total tax burden on gold be halved from the current level of around 12 per cent,” WGC managing director Somasundaram PR said here today during launch of a new comprehensive India gold report in Bengali.

The report is published after 15 years and is also available in English, Hindi, Malayam and Tamil for a ready reference to Indian gold industry.

Currently, total taxation comes to between 12 and 13 per cent. Custom duty is 10 per cent, excise is one per cent and VAT of 1-1.5 per cent depending upon states.

“In the GST regime, we demand the total tax burden on gold to be not more than 6-7 per cent. But, we have to wait for a few days more when the GST rates on gold is expected to be announced,” Somasundaram said.

He tried to convince that gold import was not as bad as was perceived to be when asked why government should offer low tax on gold which is an idle asset and contribute a lot for current account deficit.

“According to a 2014-15 report of PWC, value addition in gold is to the tune of USD 30 billion with a lot more scope. Gold loan is also to the tune of around USD 10 billion with about 1,250 tonne as collateral allowing persons access to credit be it formal or informal,” Somasundaram said.

Hoping GST will bring lot of transperency in the gold industry including check on illgeal imports which is about 120 tonnes a year now. But it will take few months industry to get stabilised, the WGC official said.

Somasundaram said government should promote gold investment through ETF with tax breaks rather than physical gold.

He reteriated that the country needed a gold policy that would help all stakeholders.

Meanwhile, the gold demand during Q1 (January-March, 2017) grew by 15 per cent to 123 tonnes, but it was 18 per cent down compared to the corresponding period in the last five years on average.