Live Markets Commentary
Sify Editors @ 4:00 PM
Sensex edges higher; post best weekly gain since September 2
Indian shares ended higher on Friday, recording their biggest weekly gain in more than three months, as additional stimulus from the European Central Bank helped offset disappointment about the Reserve Bank of India's decision to hold rates.
The broader NSE index ended 0.18 percent higher at 8,261.75, and rose 2.16 percent for the week.
The benchmark BSE index closed 0.20 percent higher at 26,747.18, gaining 1.97 percent for the week.
Both indexes posted their best weekly gain since the week ended Sept. 2.
Sify Editors @ 3:00 PM
Buy Tata Steel for medium to long term. Keep a stop loss at Rs 404 for near term
Sify Editors @ 2:40 PM
Buy Simplex Infrastructure for the target price of Rs 390.
Sify Editors @ 2:20 PM
Hold NHPC for long term gains. Add on dips.
Sify Editors @ 2:00 PM
Sensex up 91 points amid cautious trades
The market remains quite sluggish today, although it has managed to edge higher on selective buying at a few countrs, after having retreated from the day's high.
Investors appear a bit reluctant to make significant moves after previous session's sharp upmove. Also, with U.S. interest rate hikes looming large and the Reserve Bank of India's to leave rates unchanged set to slow down growth at least in the near term, the mood is a bit cautious today.
The Sensex is up 91.16 points or 0.33% at 26,765.49. The Nifty50 is up 20 points or 0.24% at 8266.85.
Sify Editors @ 1:40 PM
Buy HDFC at declines for medium term gains. Some upside in the near term is not ruled out.
Sify Editors @ 1:15 PM
Buy India Cements on dips for medium term.
Sify Editors @ 12:50 PM
Buy SRF if looking at long term. Since some weakness is likely in the near term, add in small quantities at declines.
Sify Editors @ 12:20 PM
Sensex, Nifty edge up; on track for best weekly gain since September
Indian shares rose slightly on Friday, heading for their biggest weekly gain in more than three months, as additional stimulus from the European Central Bank helped offset disappointment about the Reserve Bank of India's decision to hold rates.
Banks were among the leading gainers, despite the RBI's surprise rate move after it reversed an order that had forced lenders to surrender all their extra cash and place it under the cash reserve ratio.
Global sentiment was also buoyed after Wall Street hit record highs on Thursday and after the ECB extended it asset-buying programme for a longer period than many analysts had expected, though it trimmed the size of its purchase.
Asian shares, however, edged down on Friday with MSCI's broadest index of Asia-Pacific shares outside Japan dipping 0.3 percent.
"Yesterday, the markets captured the announcement that was expected from the ECB, which has now decided to continue with its stimulus package," said Saurabh Jain, assistant vice-president of research at SMC Global Securities.
The Nifty was up 0.13 percent at 8,257.30 by 0535 GMT, while the Sensex was 0.25 percent higher at 26,760.09.
Both indexes have gained more than 2 percent so far this week, heading for their best weekly gain since the week ended Sept. 2.
Sify Editors @ 11:50 AM
Sheela Foam hits the roof on debut
It's a pretty strong debut for Sheela Foam on the bourses today, with investors grabbing the stock after a fairly successful IPO by the company.
The stock opened at Rs 860 on the National Stock Exchange and rose to Rs 1032, gaining 41.4% over the issue price. Over 4.8 million shares have been traded so far at the Sheela Foam counter on NSE.
The IPO from Sheela Foam Limited, that hit the market last week, was subscribed more than five times, despite opening on a rather muted note.
The company fixed the issue price at Rs 730, the upper end of the Rs 680 - 730 price band. ICICI Securities Ltd and Edelweiss Financial Services Ltd., managed the share sale.
The company, which has 11 manufacturing facilities in India and five units in Australia, exports its products to nearly 25 countries. It has a network of more than 100 distributors and around 5000 dealers, spread across the country.
Sleepwell brand mattress is the major product of the company. It also makes other foam-based home comfort products targeted primarily at Indian retail consumers as well as technical grades of polyurethane foam for end-use in a wide range of industries.
Sify Editors @ 11:20 AM
Sensex, Nifty caught in tight band; Bank stocks edge higher
Amid alternate bouts of buying and selling at front line counters, the key Indian stock indices Sensex and the Nifty50 are moving in a tight range this morning. Fairly positive global cues and the Reserve Bank of India's decision to withdraw the incremental CRR requirement aid sentiment.
However, with third quarter earnings of India Inc expected to be somewhat muted due to the impact of demonetization of heavy banknotes, investors are treading a bit cautiously at higher levels.
The Sensex is now up 52.25 points or 0.2% at 26,746.53. The Nifty50 of the National Stock Exchange is up 9 points or 0.11% at 8255.80.
Sify Editors @ 10:55 AM
Oil India is a good one for medium to long term. Accumulate at declines.
Sify Editors @ 10:20 AM
Buy Federal Bank (Rs 71) at current levels and add more at declines. For short term, keep a stop loss around Rs 60.
Sify Editors @ 9:45 AM
SAIL announced after trading hours on Thursday that it posted a net loss of Rs 731.58 crore in the quarter ended September 2016, as compared to net loss of Rs 1108.04 crore in the quarter ended September 2015. Total income of the company was up nearly 21% at Rs 12,645.76 crore in the second quarter of this fiscal, compared to the year-ago quarter.
The stock, which declined by about 2% to Rs 52.55 in early trades, is currently up 0.6% at Rs 53.75. The stock had touched a 52-week high of Rs 54.80 in the previous session.
Sify Editors @ 9:15 AM
Sensex pares some gains after rising nearly 100 pionts
It's a positive start for the Indian stock market Friday morning, with investors tracking global cues and indulging in some buying in opening trades.
Data showing some strong buying by foreign portfolio investors in the previous session and slightly easing worries about liquidity are aiding sentiment.
The BSE benchmark Sensex, which rose to 26,803.26, is currently up 58.15 points or 0.23% at 26,752.43. The Nifty50 of the National Stock Exchange is up 10 points or 0.12% at 8256.85, after advancing to 8271.90 at the start.
In the forex market, the rupee opened at 67.49 against the U.S. dollar, down 14 paise from its previous close of 67.35.
Stocks from information technology, capital goods, realty and consumer durables sectors figure in th list of early gainers. A few stocks from capital goods and banking sectors have also edged higher.
|Cities||Gold (10g)||Silver (1Kg)|
|Chennai||Rs. 29005.35||Rs. 41290.00|
|Mumbai||Rs. 29529.41||Rs. 41290.00|
|Delhi||Rs. 29518.72||Rs. 41290.00|
|Kolkata||Rs. 29165.78||Rs. 41290.00|
|Kerala||Rs. 28021.39||Rs. 41290.00|