Live Markets Commentary
Sify Editors @ 6:00 PM
Markets will be closed on Friday on account of Maha Shivaratri. Trading will resume on Monday morning at the regular time. Join us then. Wishing you all a happy, extended weekend.
Sify Editors @ 4:30 PM
Sensex closes flat, Nifty touches 52-week high
Indian equities markets on Thursday provisionally closed on a flat-to-positive note, with the telecom sector stocks witnessing healthy buying following a major acquisition announcement by telecom major Bharti Airtel.
Despite a volatile trade session on the back of derivatives expiry, the benchmark index Nifty touched its 52-week high during the intra-day trade.
The key indices pared most of their initial gains to close marginally in the green, as healthy buying was witnessed in IT, Teck (technology, media and entertainment) and consumer durables stocks.
The wider 51-scrip Nifty of the National Stock Exchange (NSE) rose by 12.60 points or 0.14 per cent to 8,939.50 points.
The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 28,927.67 points, provisionally closed at 28,892.97 points (at 3.30 p.m.) -- up 28.26 points or 0.10 per cent, from the previous close at 28,864.71 points.
The Sensex touched a high of 29,065.31 points and a low of 28,860.46 points during the intra-day trade.
The BSE market breadth was tilted in favour of the bulls -- 1,315 advances and 1,283 declines.
On Wednesday, the benchmark indices were lifted by healthy global cues, an exponential rise in Reliance Industries (RIL) stock prices, and buying support in the oil and gas sector.
The NSE Nifty rose by 19.05 points or 0.21 per cent to close at 8,926.90 points, and the BSE Sensex was up 103.12 points or 0.36 per cent at 28,864.71 points.
Sify Editors @ 3:50 PM
Key Indian stock indices ended higher on Thursday, extending gains to a sixth successive day.
Amid mostly muted global cues, activity was stock specific.
The Sensex ended up 28.26 points or 0.1% at 28,892.97, after moving past the 29,000 mark around mid afternoon.
The Nifty50 ended at 8939.50, gaining 12.60 points or 0.14%.
IT stocks shone once again and contributed significantly to market's positive close.
Telecom stocks ended on a firm note.
A few stocks from realty, capital goods, metal and consumer durables sectors moved up.
Oil, automobile, bank, FMCG and power stocks ended on a mixed note.
Midcap and smallcap stocks too ended on a mixed note.
The market breadth was slightly negative.
Sify Editors @ 3:40 PM
Gruh Finance is up 2.3%, LIC Housing Finance is trading 1.3% up, GIC Housing Finance is trading 1.4% up and Dewan Housing Finance is up 2.7%. Meanwhile, PNB Housing Finance, Repco Home Finance and Indiabulls Housing Finance are off their highs due to profit taking.
Sify Editors @ 3:25 PM
Sensex pares some gains, but looks poised for another positive close
The market has come off the day's high due to profit taking in some front line stocks. However, with information technology majors and a couple of telecom stocks trading firm with strong gains, the key indices Sensex and the Nifty50 look set to end on a positive note today, extending gains to a sixth successive day.
The Sensex is up 41.32 points or 0.14% at 28,906.03. The Nifty50 is up 14 points or 0.16% at 8940.90.
IT majors Tata Consultancy Services (up nearly 3%), Infosys (2.3%) and Wipro (up nearly 2%) are up sharply. KPIT Technologies is gaining 3.4% and HCL Technologies is trading 1.7% up. Oracle Financial Services, Hexaware Technologies, Aptech, NIIT, NIIT Technologies and MindTree are modestly higher, while Tech Mahindra and Tata Elxsi are down marginally.
Sify Editors @ 3:10 PM
Shares of housing finance companies remain in focus after a firm start.
These stocks are in demand today following the market regulator SEBI easing curbs on mutual fund exposure on housing finance companies.
Sify Editors @ 2:50 PM
Hold Godrej Consumer Products if looking at medium term. Fresh buying can be considered at sharp declines.
Sify Editors @ 2:15 PM
Buy Crompton Greaves. Add at declines for medium term.
Sify Editors @ 1:45 PM
Sensex hits 29,000 mark; TCS, Infosys among top gainers
Thanks to sustained buying in telecom, information technology and a few front line stocks from capital goods and consumer durables sectors, the market holds in positive territory this afternoon.
The Sensex moved past the 29,000 mark this afternoon, hitting his highest level in nearly six months. The Sensex is now up 135.56 points or 0.47% at 29,000.27, slightly off the day's high of 29,018.18. The Nifty50 of the National Stock Exchange is up 46.40 points or 0.52% at 8973.30.
Among IT majors, Tata Consultancy Services is up 2.3%, Infosys is gaining 2.2%, Wipro and HCL Technologies are trading higher by about 1.75% and Tech Mahindra is up nearly 1%. KPIT Technologies is gaining 2.6% and MindTree is modestly higher, while Oracle Financial Services is up marginally.
In the telecom space, Idea Cellular is trading 6.6% up, Reliance Communications is up 5.2% and Bharti Airtel is up 3.7%. MTNL and Tata Teleservices are also notably higher. Tata Communications is up marginally.
Sify Editors @ 1:15 PM
Hold Reliance Communications. Add at declines.
Sify Editors @ 12:50 PM
Buy Larsen & Toubro if looking for medium term gains.
Sify Editors @ 12:30 PM
Bajaj Finance looks good for medium term. Stay invested.
Sify Editors @ 12:10 PM
Idea Cellular is likely to see further upside in the near term. Hold.
Sify Editors @ 11:40 AM
Sensex rises; Bharti Airtel hits over 18-month high
BSE index rose to a 5-1/2-month high on Thursday, heading for a sixth consecutive session of gains with IT stocks leading the rally, while Bharti Airtel hit an 18-month high on its plan to buy Telenor India.
But analysts said the momentum could wane and the market may enter a consolidation phase as global factors, including potential U.S. rate hikes, gain prominence.
Some volatility in trading is also likely ahead of the expiry of derivatives contracts later in the day.
The Reserve Bank of India is expected to keep rates on hold this year, with minutes of its Feb. 7-8 meeting showing concerns about inflation, and three of the six members of the monetary policy panel voicing the need to shift the policy stance to "neutral" from "accommodative."
"The Indian market has been fairly positive in the last few days. Some consolidation and correction can be seen but the gains have been mostly triggered by stock-specific moves," said Neeraj Dewan, director at Quantum Securities.
The broader NSE index was up 0.39 percent at 8,961.75 as of 558 GMT, while the benchmark BSE index was 0.37 percent higher at 28,970.14, after touching its highest since Sept. 9, 2016.
Sify Editors @ 11:10 AM
After Idea and Reliance Jio, it's now Airtel's turn to hog limelight
Things are happening thick and fast for customers in the telecom space. After news about a likely merger of Vodafone India and Idea Cellular, and then, Reliance Jio Infocomm's attractive tariff plans, comes the news about Bharti Airtel signing a definitive agreement to acquire Telenor (India) Communications.
Reports peg the acquisition cost to be around Rs 6800 - Rs 7000 crore, including Telenor's debt of Rs 1500 crore.
Bharti Airtel will buy Telenor India's running operations in seven circles that have a high potential for growth. Additionally, Airtel is set to get 43.4 MHz spectrum in 1800-MHz band that Telenor India holds. Andhra Pradesh, Bihar, Maharashtra, Gujarat, UP (East), UP (West) and Assam are the seven circles Bharti Airtel will get through the Telenor deal.
Bharti Airtel expects the acquisition of of additional spectrum will add to its already solid spectrum portfolio and help create long term value for the company's shareholders thanks to signficant synergies. The acquisition is likely to bring in an additional 44 million subscribers to Bharti Airtel’s existing 266 million. Still, the combine will stay next only to Vodafone - Idea, whose subscriber base will be much larger with close to 400 million users.
On Wednesday, Bharti Airtel sid that it has acquired strategic stake in financial technology company Seynse Technologies Pvt Ltd., which had a turnover of Rs 6.53 lakh in 2015-16. Bharti Airtel acquired this stake through its subsidiary Bharti Airtel Services.
Shares of Bharti Airtel skyrocketed to a 52-week high of Rs 400.65 in early trades this morning, rising nearly 11%. At present, the stock is trading at Rs 380, up 5.2% from Wednesday's closing price.
On BSE, the Bharti Airtel counter has clocked a volume of around 12.3 lakh shares so far in the session, more than six times its daily volume of 1.85 lakh shares. On the National Stock Exchange, the Bharti Airtel counter has clocked a volume of nearly 20 million shares so far in the session.
Sify Editors @ 10:45 AM
Piramal Enterprises is a good one for medium term. Accumulate at declines.
Sify Editors @ 10:30 AM
Sensex, Nifty modestly higher; Telecom, IT stocks rise
The Indian stock market is trading higher Friday morning, despite weak global cues. With traders rolling over positions ahead of February series derivatives expiry, a few front line stocks have edged higher.
The BSE benchmark Sensex, which rose to 28,972.79, is now at 28,920.27, up 55.56 points or 0.2% from its previous close. The Nifty50 of the National Stock Exchange is up 17.60 points or 0.2% at 8944.50, after having advanced to 8957.15 earlier.
Sify Editors @ 10:10 AM
Hold Siemens if looking at medium or long term. Fresh buying can be considered at declines.
Sify Editors @ 9:50 AM
Hold ITC for medium term gains. Fresh buying can be considered at current levels.
Sify Editors @ 9:30 AM
Sensex opens higher
Taking a cue from positive investments sentiment, the key Indian equity market indices opened higher on Thursday.
The Sensitive Index (Sensex) of the BSE, which had closed at 28,864.71 points on Wednesday, opened higher at 28,927.67 points. Minutes into trading, it was quoting at 28,936.78 points, up by 72.07 points, or 0.25 per cent.
At the National Stock Exchange (NSE), the broader 51-scrip Nifty, which had closed at 8,926.90 points, was quoting at 8,943.75 points, up by 16.85 points or 0.19 per cent.
On Wednesday, despite a volatile trade session, the Indian equities markets closed on a positive note, as healthy global cues buoyed investors sentiments. However, outflow of foreign funds and caution ahead of crucial economic events capped gains.
Investors were anxious before the release of US Fed's Federal Open Market Committee (FOMC) and the Reserve Bank of India's Monetary Policy Committee's (MPC) minutes as well as derivatives expiry.
The Sensex surged by 103.12 points or 0.36 per cent in Wednesday's closing. In the day's trade, the barometer 30-scrip sensitive index had touched a high of 28,963.52 points and a low of 28,789.30 points. The Nifty, too was up by 19.05 points or 0.21 per cent.
|Cities||Gold (10g)||Silver (1Kg)|
|Chennai||Rs. 43295.00||Rs. 30203.21|
|Mumbai||Rs. 43295.00||Rs. 30898.40|
|Delhi||Rs. 43295.00||Rs. 30695.19|
|Kolkata||Rs. 43295.00||Rs. 30577.54|
|Kerala||Rs. 43295.00||Rs. 29572.19|