Domestic indices
plummted on Friday as Modi government's Union Budget for 2019-20 failed to
cheers investors. Even though the markets opened higher with the benchmark S&P BSE Sensex zooming past
the 40,000 mark to hit 40,032, the index fell over 500 points from the highs.The
S&P BSE Sensex closed 395 points, or 0.99 per cent, lower at 39,513 levels
with the YES Bank, NTPC and Mahindra & Mahindra being the top laggards. The
broader Nifty50 index tanked 136 points, or 1.14 levels, to end at 11,811
levels.In the broader market, S&P BSE Mid-Cap ended 208 points, or 1.39 per
cent, lower at 14,726 levels while the S&P BSE Small-Cap dipped 195 points,
or 1.36 levels, to settle at 14,142 levels. Sectorally, all the indices ended
in the red except Nifty PSU bank and Nifty Bank index that gained after the
finance minister announced that the government will pump in Rs 70,000
crore into public sector banks to strengthen them and enhance their
lending capacity.Metals, realty and auto counters were the biggest losers after
the Budget proposed import duty hike for auto-parts, metals and other equipment
used for manufacturing capital goods. Each index slipped over 3 per cent. PSU
Bank index closed 0.18 per cent higher after gaining nearly 4 per cent
intra-day on government's proposal to recapitalize banks.
Saturday, July 6, 2019
Thursday, July 4, 2019
MARKET SUMMARY OF 04 JUL 2019
FOR FREE TRIAL FILL THE FORM>>>
Domestic indices ended Thursday's trading session in the green ahead of the Union Budget presentation on Friday, July 5.The S&P BSE Sensex ended 69 points, or 0.17 per cent, higher at 39,908 levels with Bharti Airtel, Tata Motors and IndusInd Bank being the top gainers. The broader Nifty50 too settled at 11,947 levels, up 30 points, or 0.25 per cent.In the broader market, S&P BSE Mid-Cap ended at 14,918 levels while the S&P BSE Small-Cap gained 0.12 per cent, to settle at 14,329 levels. Sectorally, public sector banks' scrips gained the most with the index scaling 2 per cent intra-day. It ended 1.31 per cent higher. This was followed by gains in realty counters. The biggest losers at the bourses were metal and pharma scrips with their index sliding 1.11 per cent and 0.64 per cent respectively.Shares of Uniply Industries rallied nearly 5 per cent to Rs 66.50 apiece in the early morning trade on Thursday, a day after Kuwait-based multi-family office investment firm Markab Capital WLL announced acquisition of a controlling stake in the company. The offer values the company at an enterprise value of over Rs 1,550 crore on a fully diluted basis.Shares of IndiaMART InterMESH made a strong debut on the bourses, by listing at Rs 1,180, 21 per cent higher against its issue price of Rs 973 apiece on the National Stock Exchange and BSE.
Domestic indices ended Thursday's trading session in the green ahead of the Union Budget presentation on Friday, July 5.The S&P BSE Sensex ended 69 points, or 0.17 per cent, higher at 39,908 levels with Bharti Airtel, Tata Motors and IndusInd Bank being the top gainers. The broader Nifty50 too settled at 11,947 levels, up 30 points, or 0.25 per cent.In the broader market, S&P BSE Mid-Cap ended at 14,918 levels while the S&P BSE Small-Cap gained 0.12 per cent, to settle at 14,329 levels. Sectorally, public sector banks' scrips gained the most with the index scaling 2 per cent intra-day. It ended 1.31 per cent higher. This was followed by gains in realty counters. The biggest losers at the bourses were metal and pharma scrips with their index sliding 1.11 per cent and 0.64 per cent respectively.Shares of Uniply Industries rallied nearly 5 per cent to Rs 66.50 apiece in the early morning trade on Thursday, a day after Kuwait-based multi-family office investment firm Markab Capital WLL announced acquisition of a controlling stake in the company. The offer values the company at an enterprise value of over Rs 1,550 crore on a fully diluted basis.Shares of IndiaMART InterMESH made a strong debut on the bourses, by listing at Rs 1,180, 21 per cent higher against its issue price of Rs 973 apiece on the National Stock Exchange and BSE.
Wednesday, July 3, 2019
MARKET SUMMARY OF 3 JUL 2019
Nifty after a rangebound session closed
flat with a positive bias on July 3 as traders eagerly await Union Budget 2019
scheduled to be presented on July 5.The index closed above 11,900 for a
second consecutive session after consolidating in a narrow trading band of
11,888 to 11,950 for the most part of the day. Earnings
alert Samsung
likely to report 60% decline in Q2 profit, lowest in 3 years. Icra downgrades McLeod to default in
fourth rating action since April. ICICI inks pact with Indostar Capital to
finance commercial vehicles .Indiabulls Fin to buyback NCDs, masala bonds worth
Rs 2,705 cr in Sept. PNC Infratech nears record high; stock
surges 47% in two months
Tuesday, July 2, 2019
MARKET SUMMARY OF 2 JUL 2019
FOR FREE TRIAL FILL THE FORM>>>>>
Domestic indices ended
Tuesday's volatile trade with gains. The indices traded in the red for better
part of the day, tracking concerns on weak global growth across
world markets coupled with rising trade tensions.The losses were,
however, pared against last hour buying in select stocks such as HDFC twins,
Infosys, Reliance and ONGC.The S&P BSE Sensex ended 130 points, or 0.30 per
cent, higher at 39,816 levels with ONGC, HDFC and Bharti Airtel being the top
gainers. The broader Nifty50 too settled with gains of 45 points, or 0.38 per
cent, at 11,910 levels.In the broader market, S&P BSE Mid-Cap ended 56
points, or 0.38 per cent higher at 14,945 levels while the S&P BSE
Small-Cap gained 0.52 points to settle at 14,283 levels.Sectorally, realty
scrips were under pressure with the index with ending 1.5 per cent lower. This
was followed by losses in pharma and bank counters. Nifty IT index settled
nearly a per cent higher followed by metal index. BSE suspends trading of JK Pharmachem and 7 others on investors'
complaintStock of the day ICRA slips 6% after it sends MD and CEO Naresh Takkar on
sudden leave Another Cox & Kings default drags stock to fresh all-time low Why bond traders are seen forgiving Modi govt on wider budget
deficit Google, Facebook made Rs 10,000 crore;
paid Rs 200 crore as tax in India Ola Electric gets
$250 mn from SoftBank, becomes India's newest unicorn Hindustan Zinc stock turns attractive after the recent correction
Monday, July 1, 2019
MARKET SUMMARY OF 1 JUL 2019
Domestic indices ended
at a three-week closing high on Monday tracking positive global sentiment
stemmed from trade truce between the US and China. Heavy buying was witnessed
across finanicals, banking, automobiles and realty stocks.The S&P BSE
Sensex ended 292 points higher at 39,686 levels with
Tata Motors, Bajaj Auto and HDFC being the top gainers. The broader Nifty50 too
ended the session with gains of 77 points, at 11,866
levels.In the broader market, S&P BSE Mid-Cap ended 81 points higher at 14,889 levels while the S&P BSE Small-Cap gained 43 points , to settle at 14,283 levels. Sectorally, realty led the rally
with a gain of over 2 per cent. This was followed by gain in automobiles,
pharma and bank counters, which rose about a per cent each. SBI, Syndicate Bank: Should you buy PSU banks ahead of Union
Budget 2019? Stock alert Reliance Infra
slips 10% on rating downgrade by Brickwork VA Tech Wabag soars 14% on hopes of
water mgt announcement in Budget 2019 Bank of Baroda down 1% post report of
Rs 3,000 cr loan purchase from DHFL Torrent Power soars on power agreement
with Gujarat Electricity Comm Buzzing stock Eveready
Industries locked in 5% lower circuit after PwC resigns as auditor.
Friday, June 28, 2019
MARKET SUMMARY OF 28 JUN 2019
After making an all-time high at 12,103 on the 1st trading
session of June, Nifty spent the rest of the month in a corrective mode. Though
there were few stock specific shorting opportunities during this period, the
ranging price action was quite annoying for most short-term traders as it
lacked directional bias in either direction.Selling pressure was visible in the
midcap space as the Nifty200 breadth remained weak. Bank Nifty witnessed selling
pressure for the first half of the series, however, a smart recovery was seen
in the last few trading sessions.During this contra trend period, the putative
swing low (of 11,625) in Nifty50 was formed near the gap support area of
11,600-11,400.Jet airways employees consortium,
AdiGroup to bid for 75% of airline Inside
Apple's long goodbye to Jony Ive, the man who designed the iPhone From
liquidity to stress fund: Real estate, homebuyers' Budget expectations Over
half the SME universe in the red: Here're the top losers since 2012 ONGC seeks bids to enhance
production from 64 marginal fields
Thursday, June 27, 2019
MARKET SUMMARY OF 27 JUN 2019
Nifty wiped out initial gains in the last couple of hours of
trade amid volatility due to F&O expiry and correction in European indices
on June 27.The index failed to hold
11,900 and closed flat, forming bearish candle that resembles Shooting Star
pattern on daily charts.A 'Shooting Star' pattern is
formed when the index comes under selling pressure as traders start booking
profits at higher levels. This pattern is usually formed in an uptrend and is
treated as a reversal pattern, but it would require confirmation before we can
conclude that the trend will get reversed in the near future.Buzzing stock CreditAccess gains 8% on
completion of direct assignment of Rs 139 crore SBI nears record high on
fundraising plan; stock rises 7% in six days Real estate shares in focus;
Godrej Properties hits record high Cox & Kings hits lower circuit for 2nd
straight day, tanks 57% in a month DHFL promoters sell stake in wealth
management business to employees Bitcoin climbs to 18-month high, soars past
$13,000 as Libra spurs interest.
Wednesday, June 26, 2019
MARKET SUMMARY OF 26 JUN 2019
Despite benchmark indices reaching new heights in early June, the
breadth of the market remains weak. This is evident from the fact that almost
20 percent of BSE500 stocks hit their respective 52-week low in June Eighty-eight
stocks in the BSE500 index hit their respective 52-week low in June, which
include Hindustan Zinc, JSW Steel, Bosch, Motherson Sumi, Vodafone
Idea, General Insurance Corp., Lupin, Biocon and YES Bank, among
others.Indian
tyre companies to gain from CVD duty on Chinese imports; top picks Buzzing stock DHFL falls 9% on partial payment
of Commercial Paper dues Shriram Group shares trade weak; Shriram City Union
hits 52-week low ICICI
Bank, Power Finance, and 12 other stocks hit 52-week highs on BSE 500 Rushil
Decor hits lower circuit for 2nd straight day; tanks 28% in two days.SBI Life
Insurance hits 52-week high on strong response for share sale.
Subscribe to:
Posts (Atom)