Live Markets Commentary
Sify Editors @ 4:55 PM
Sensex ends 184 points up
With investors picking up stocks, betting on GST hopes and good monsoon, the Indian stock market ended on a buoyant note on Thursday. A few good results from India Inc too aided sentiment. Short covering at a few counters ahead of near month derivatives contracts expiry contributed a bit to market's rise.
The GST Bill's passage in parliament is likely to happen soon with the Union Cabinet giving its nod to GST Constitutional Amendment Bill, removing the controversial one percent manufacturing tax. Opposition parties, led by Congress, had been insisting on removal of this one percent manufacturing tax. The government has also changed the compensation clause for state governments for any loss that they may incur to 'five years' from 'up to five years' as mentioned in the draft GST Bill.
The BSE benchmark Sensex ended up 184.29 points or 0.66% at 28,208.62, off the day's high of 28,240.20. The Nifty50 of the National Stock Exchange, which rose to 8674.70, closed at 8666.30, up 50.50 points or 0.59%.
In the forex market, the rupee was trading at 67.08 against the U.S. dollar, after having strengthened to 66.99 a dollar earlier in the day. On Wednesday, the rupee closed at 67.15 a dollar.
Sify Editors @ 4:20 PM
The NSE Nifty rose for the second successive session on Thursday to its highest since April 2015 as sentiments were lifted by positive earnings of companies such as Bharti Airtel .
The BSE Sensex closed 0.66 percent up at 28,208.62 points.
The broader NSE Nifty ended 0.59 percent higher at 8,666.30 points.
Asian Paints ended as the top percentage gainer on the NSE after hitting a record high earlier in the session.
Sify Editors @ 3:50 PM
With investors picking up stocks, betting on GST hopes and good monsoon, the Indian stock market ended on a buoyant note on Thursday.
Some good results from India Inc helped as well.
The Sensex ended up 184.29 points or 0.66% at 28,208.62.
The Nifty50 closed at 8666.30, up 50.50 points or 0.59%.
FMCG and consumer durables stocks had a good outing.
Logistics stocks rallied on GST hopes.
Automobile, realty and telecom stocks too found good support.
Healthcare, bank, IT, oil and power stocks closed on a mixed note.
Capital goods and metal stocks were weak.
Midcap and smallcap stocks fared well.
The market breadth was positive.
Sify Editors @ 3:25 PM
Buy ONGC at sharp declines for medium term. The stock may see modest upside in the near term.
Sify Editors @ 3:20 PM
Sensex up 200 points, set to end on buoyant note
With the mood remaining a bit bullish amid optmism the GST Bill will get through during the monsoon session, and on forecast from the IMD that rainfall will be above normal this season, the market continues to hold in positive territory and looks headed for a higher close today.
The Sensex is up 199.80 points or 0.71% at 28,224.13 now. The Nifty50 is at 8663.30, up 47.50 points or 0.56% from its previous close.
Asian Paints has given up some gains, but at Rs 1125.50, is still up 6% over its previous closing price. Maruti Suzuki has rallied more than 4.5%. ITC, Sun Pharmaceutical Industries and Power Grid Corporation are up 1.75% - 2.3%.
State Bank of India, Reliance Industries, Tata Consultancy Services, Coal India, ICICI Bank and HDFC Bank are up 1% - 1.5%. Wipro, NTPC, HDFC, GAIL India and Hindustan Unilever are up with modest gains.
Sify Editors @ 3:10 PM
Stay invested in Titan. If looking at long term, add small quantities at declines.
Sify Editors @ 2:55 PM
Buy Bajaj Finserv at sharp declines.
Sify Editors @ 2:40 PM
Hold Sintex Industries with a stop loss at Rs 76 for near term.
Long term investors can buy the stock at declines.
Sify Editors @ 2:35 PM
Sensex, Nifty remain in positive territory; Bharti Infratel spurts on results
Key indices Sensex and the Nifty50 remain fairly well placed in positive territory even as stocks move in a tight range amid alternate bouts of buying and selling on the Indian bourses this afternoon.
Though global cues are not any significantly positive, rising optimism about GST Bill passage appears to be aiding the market today.
The Sensex is up 104 points or 0.37% at 28,128.33, nearly 25 points off the day's high. The Nifty50, which advanced to 8656.80, is currently up 29 points or 0.35% at 8644.80.
Bharti Infratel is gaining 6.6% on strong buying at the counter. The company announced on Wednesday that its consolidated net profit rose 71% to Rs 756.2 crore for the quarter ended June 2016, over the corresponding quarter last year.
Sify Editors @ 2:20 PM
Buy Asian Paints for the target price of Rs 1135.
Sify Editors @ 2:10 PM
Buy United Breweries for the target price of Rs 855.
Sify Editors @ 2:00 PM
Hold BHEL. Fresh buying can be considered at declines.
Sify Editors @ 1:40 PM
Buy National Fertilizers. Add at declines for medium term.
Sify Editors @ 1:20 PM
Buy Crompton Greaves for medium term. Take modest exposure at current levels and add more in small quantities at declines.
Sify Editors @ 12:50 PM
Bajaj Finance crosses Rs 10,000 mark, joins special league
Bajaj Finance crossed the magical Rs 10,000 mark for the first time ever, and joned the coveted league of stocks that are trading in five digits.
Strong results and a liberal bonus announcement continue to woo investors to the Bajaj Finance counter. At Rs 10,382.50, off a new high of Rs 10,450.00, the Bajaj Finance stock is up 6.5% now. On NSE, the stock hit a high of Rs 10,460.00 today.
Bajaj Finance Ltd reported a net profit of Rs 423.99 crore for the quarter ended June 2016, up by around 54% over its net profit of Rs 275.63 crore in the corresponding quarter last year. Total income rose nearly 40% to 2301.06 crore in the quarter ended June 2016 over the year-ago quarter.
Bajaj Finance's board of directors approved the sub-division of equity shares of face value of Rs 10 each into equity shares of face value of Rs 2 each, subject to shareholders' approval. The board of directors of Bajaj Finance Limited also approved issue of bonus shares in the ratio of 1:1, of the face value of Rs 2 each (adjusted for sub-division of shares).
Among the other stocks in the Rs 10,000 plus league are Eicher Motor, Page Industries, MRF and Bosch. Of these, MRF is trading well past Rs 30,000 mark, while Bosch and Eicher Motors are trading past Rs 20,000 levels.
Eicher Motors is up 2.8% at Rs 20,872.00, slightly off a 52-week high of Rs 21,578 and Page Industries is trading at Rs 13,603.00 (up 1.1%), off its 52-week high of Rs 15,045.95.
MRF Limited shares are trading at Rs 34,205.00, off the day's high of Rs 34,443.65. The stock had high of Rs 46,405.45 on 14 August 2015.
Meanwhile, Bosch Limited shares, with a face value of Rs 10 a share, are trading at Rs 24,244 on BSE, up 0.6% over Wednesday's closing price. The stock had hit a high of Rs 26,701.00. The stock had hit an all-time high of Rs 27,789.00 on March 23, 2015.
On the National Stock Exchange, the stock is up 0.4% at Rs 24,186.00, not not far from its 52-week high of Rs 26,719.95, touched on 11 August 2015.
Last month, Bosch Limited's board had approved the buy-back of 8,78,160 fully paid up equity shares of face value Rs 10 each per share (nearly 2.8% of the total paid-up equity share capital) of the Company at a price of Rs 23,000/- each per share aggregating to Rs 20 billion from the shareholders of the Company on a proportionate basis through the Tender Offer route of the Stock Exchange Mechanism. The Board of Directors have noted the intention of Robert Bosch GmbH, promoter of the Company, to participate in the buy-back.
Sify Editors @ 12:30 PM
Buy Jet Airways for the target price of Rs 615.
Sify Editors @ 12:10 PM
Buy Bharti Airtel for the target price of Rs 400.
Sify Editors @ 11:45 AM
Buy India Cements at sharp declines for medium term. Modest upside is likely in the near term.
Sify Editors @ 11:15 AM
GST hopes drive logistics stocks up north
Logistics stocks are in demand today, amid optimism the GST Bill will get the parliament's nod soon.
With the Union Cabinet giving its approval to GST Constitutional Amendment Bill, removing the controversial one percent manufacturing tax, the passage of the much awaited bill now seems round the corner.
Opposition parties, led by Congress, had been insisting on removal of this one percent manufacturing tax. The government has also changed the compensation clause for state governments for any loss that they may incur to 'five years' from 'up to five years' as mentioned in the draft GST Bill.
The GST Bill will benefit the logistics sector as it will remove inefficiencies in interstate taxation and check posts.
GATI Limited shares are up 3.2% at Rs 177, on a volume of over 1 million shares.
Allcargo Logistics is gaining about 5% at Rs 200. The Allcargo Logistics counter on the National Stock Exchange has clocked a volume of almost 7 lakh shares so far in the session.
Snowman Logistics has moved up 4.7% to Rs 88.70. The Snowman Logistics counter on NSE has clocked a volume of about 1.5 million shares so far today.
Patel Integrated Logistics (up 3.5% at Rs 120) and Transport Corporation of India (up 5.3% at Rs 267) have also moved up on fairly impressive volumes.
Sical Logistics is trading nearly 2.5% up at Rs 159.35 and Gateway Distriparks is up 1.7% at Rs 274. Shares of Container Corporation, Arshiya Limited and Navakar Limited are also trading higher this morning.
Sify Editors @ 10:50 AM
Bharti Airtel shares rise; quarterly net profit beats estimates
Bharti Airtel Ltd's shares rise as much as 2.5 pct to 381.80 rupees, their highest since April 28.
India's biggest telecom operator posts about 31 pct fall in June-quarter net profit at 14.62 bln rupees ($218.2 mln), but beat analysts' estimates of 11.59 bln rupees.
Kotak Institutional Equities Research reiterates its "buy" rating with a price target of 415 rupees, stating that EBITDA growing at 16 pct Y-o-Y was 2 pct ahead of its estimate.
Stock has a mean price target of 397.30 rupees.
Out of 34 analysts covering the stock, 21 rate it "buy" or equivalent, seven "hold" and six "sell".
($1 = 67.0150 Indian rupees)
Sify Editors @ 10:30 AM
Buy Motherson Sumi (Rs 323) at declines. For short term, keep a stop loss at Rs 301.
Sify Editors @ 10:10 AM
The Indian stock market is trading higher Thursday morning, with investors making some brisk purchases amid hopes the GST Bill will get parliament's nod during the ongoing winter session.
Global cues are mixed following the U.S. Federal Reserve deciding to keep its interest rates unchanged. As expected, the Fed announced its decision to maintain the target range for the federal funds rate at 0.25% to 0.5% even as it said near-term risks to the economic outlook have diminished.
The BSE benchmark Sensex, which rose to 28,144.32, is currently at 28,103.30, up by about 79 points or 0.28%. The Nifty50 of the National Stock Exchange is up 20 points or 0.23% at 8635.80, off an early high of 8648.65.
In the forex market, the rupee opended at 67.07 against the U.S. dollar and strengthened to 66.99 a dollar. On Wednesday, the rupee had ended at 67.15 a dollar.
Sify Editors @ 9:45 AM
The Sensitive Index (Sensex) of the BSE, which had closed at 28,024.33 points on Wednesday, opened higher at 28,108.78. Minutes into trading, it was quoting at 28,066.22 points, up 41.89 points, or 0.15 per cent.
At the National Stock Exchange (NSE), the broader 51-scrip Nify, which had closed at 8,615.80 points, opened at 8630.80 points. Miniutes after it was trading at 8,628 points, up 12.20 points or 0.14 per cent.
On Wednesday, the Sensex was up 47.81 points after earlier hitting its highest since August 10, 2015 while the Nifty too gained 25.15 points after earlier hitting its highest since April 17, 2015.
Both indices were upon the positive expectation of Goods and Services Tax (GST) that it will get passed in the current monsoon session.
Sify Editors @ 9:15 AM
It's a fairly bright start for the Indian stock market this morning, with investors indulging in some brisk buying in opening trades, amid mixed global cues.
The Sensex gained over 100 points in early trades, rising to 28,144.32. The Nifty50 is up 28 points or 0.33% at 8643.80.
Asian Paints has spurted 4.3%. Maruti Suzuki, Bharti Airtel and ITC are also up with strong gains.
After recent heavy losses, Dr Reddy's Laboratories is up marginally.
|Cities||Gold (10g)||Silver (1Kg)|
|Chennai||Rs. 31689.84||Rs. 47370.00|
|Mumbai||Rs. 32737.97||Rs. 47370.00|
|Delhi||Rs. 31871.66||Rs. 47370.00|
|Kolkata||Rs. 32235.29||Rs. 47370.00|
|Kerala||Rs. 30695.19||Rs. 47370.00|