Live Markets Commentary
Sify Editors @ 2:30 PM
The Sensex is down 89.85 points or 0.32 percent at 27970.09, and the Nifty down 18.15 points or 0.21 percent at 8632.15.
Sify Editors @ 2:05 PM
Shares of Natco Pharma Ltd rose as much as 7.34% to a record high of Rs 702.65. They are now up 4.95% at Rs 687.60.
Sify Editors @ 1:40 PM
Sify Editors @ 10:07 AM
Sify Editors @ 9:35 AM
This on a day when Asian and world stock indices succumbed to profit-taking after reaching one-year highs earlier this month.
Investors around the world are grappling with the prospect of a US interest rate increase in the months ahead coming amid continued uncertainty about the strength of the global economy.
"As speculators play the dollar, global markets lack a clear direction," said Ipek Ozkardeskaya, senior market analyst at London Capital Group.
So, where do Indian investors plough their hard-earned earnings? PSUs, possibly.
"They are good strong companies, good balance sheets - no issues there," says Mahesh Patil, co-chief investment officer, Birla Sun Life Asset Management, which has $22 billion under management. "They had seen some pain due to the cyclical downturn. (But) I think public sector undertakings (PSUs) as a theme have the potential to re-rate."
Paras Adenwala, an investment manager for Capital Portfolio Advisors, meanwhile, felt "The Government's initiative to revitalise PSUs through policy and monetary measures, seems to have begun to bear fruit, especially within the energy and power segments."
Sify Editors @ 3:05 PM
Sify Editors @ 12:55 PM
Investors' attention now is on Fed Chair Janet Yellen's speech at the annual central bank symposium in Jackson Hole on Friday. They still doubt the stars will align for a hike anytime soon, so a hawkish tone from Yellen would challenge that view.
Reflecting the caution, Asian stocks consolidated recent gains on Wednesday, while oil prices slid after a surprise buildup in US crude stocks.
Sentiment was also muted ahead of the expiry of the derivative contracts on Thursday.
"If there is some indication that the US economy is in good shape and recovery is on track, then there could be some impact on Indian stocks but the market isn't expecting any immediate hike in US interest rates because of global economic uncertainty," said UR Bhat, managing director of Dalton Capital, a unit of UK investment management firm Dalton Strategic Partnership.
Aurobindo Pharma rose as much as 5.6 percent after the company on Tuesday reported a 24 percent rise in its June-quarter consolidated profit, boosted by higher sales.
Welspun India plunged about 10 percent and headed for its third straight fall, as the fallout from Target Corp's decision to terminate business with the firm for passing off cheap sheets as premium Egyptian cotton escalated.
Sify Editors @ 12:20 PM
Welspun India's shares, which had plunged 20 percent for a second day on Tuesday, continues its steep descent and were down by almost 10%. Welspun, one of the world's largest textile manufacturers, is facing the fallout from Target Corp's decision to terminate business with the firm for passing off cheap sheets as premium Egyptian cotton escalated. Target had said on Friday that it was severing ties with Welspun after its extensive investigation had confirmed that the Indian company, which purportedly used Egyptian cottons to make sheets and pillowcases sold to the retailer, substituted non-Egyptian cotton instead.
Sify Editors @ 11:00 AM
|Cities||Gold (10g)||Silver (1Kg)|
|Chennai||Rs. 31647.06||Rs. 45540.00|
|Mumbai||Rs. 33090.91||Rs. 45540.00|
|Delhi||Rs. 32299.47||Rs. 45540.00|
|Kolkata||Rs. 32823.53||Rs. 45540.00|
|Kerala||Rs. 31229.95||Rs. 45540.00|