Live Markets Commentary
Sify Editors @ 3:50 PM
Sensex ends flat after record high; IT pares gains
BSE index ended flat after earlier rising as much as 0.8 percent to a record high as IT firms reversed earlier gains after a lobby group issued a muted revenue guidance for exports, while energy firms fell on sliding oil prices.
The benchmark BSE index closed up 0.02 percent at 31,290.74, after earlier hitting a record high of 31,522.87.
The broader NSE index was down 0.04 percent at 9,630.00.
The Nifty IT index earlier gained as much as 1.3 percent before ending down 0.2 percent.
Sify Editors @ 3:10 PM
IT stocks pare gains after industry body's export revenue growth forecast
IT stocks pare earlier gains after National Association of Software and Services Companies (NASSCOM) projected export revenue growth of 7 to 8 pct for FY2018.
Forecast in line with 7.6 pct growth in the last fiscal year.
NASSCOM's guidance for revenue growth was 10 to 11 pct for the domestic market in FY2018.
IT sector faces headwinds in the U.S. market over fears of tighter visa rules.
Nifty IT index down 0.08 pct after earlier gaining as much as 1.3 pct.
Infosys Ltd down 0.4 pct, Tata Elxsi Ltd up 0.6 pct; both stocks had earlier gained as much as 2.7 pct.
Up to Wednesday's close, Nifty IT index had fallen 11 pct in 12 months.
Sify Editors @ 2:15 PM
Cairn Energy: Stake in Cairn India may be put on block
Oil explorer Cairn Energy's shares down 3.4 pct at 166.7 pence - among top losers on FTSE mid cap index.
Cairn Energy's 9.8 pct stake in Cairn India may be put on the block as part of recovery proceedings initiated late last week by the Indian government, newspaper Business Standard reported citing sources.
The stake, valued at around 52 billion rupees ($806.14 million), may be auctioned or reverse auctioned the newspaper reported, citing sources.
The company may also face a penalty of around 300 pct, amounting to 300 billion rupees, Business Standard said.
Shares touch a more than one year low of 164.2 pence; up to Wednesday's close, stock had fallen about 27 pct this year.
Sify Editors @ 1:15 PM
Banking stocks lift equity markets, Sensex trades at new high
After two days of correction, the Indian equity markets surged to trade at a new high during the mid-afternoon session on Thursday.
Healthy buying in stocks of banking majors such as State Bank of India, Axis Bank and HDFC Bank lifted the market sentiment.
The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 31,351.53 points, traded at a fresh high of 31,465.30 points up 181.66 points, or 0.58 per cent, from its previous close at 31,297.53 points.
It has touched a new high of 31,522.87 points during intra-day trade.
The wider Nifty of the National Stock Exchange (NSE) rose by 47.45 points, or 0.49 per cent, to trade at 9,681.05 points.
"Equity benchmarks opened higher, and Sensex and Bank Nifty has hit fresh record highs. Asian market is trading mixed," said Dhruv Desai, Director and Chief Operating Officer of Tradebulls.
Sify Editors @ 12:15 PM
Sensex hits record high; banks, auto stocks up
India's benchmark BSE index hit a record high on Thursday as steps taken by the capital markets regulator to attract more investments and tackle massive bad loans of banks boosted sentiment.
The Securities and Exchange Board of India (SEBI) proposed on Wednesday to ease some rules for foreign portfolio investors to steer more funds. It also relaxed open offer rules for investors buying distressed companies from banks to tackle mounting debt.
The broader NSE Nifty was up 0.65 percent at 9,696.35 as of 0606 GMT, while the benchmark BSE Sensex was 0.76 percent higher at 31,519.97, after hitting a record high of 31,522.87 earlier.
On Wednesday, minutes from the Reserve Bank of India's monetary policy committee revealed a less hawkish tone as it welcomed data showing inflation easing below target, but wanted more assurance the trend would continue before deciding whether to lower interest rates.
Sify Editors @ 10:30 AM
Lupin hits near 3-year low, technicals suggest further downside
Shares of Lupin Ltd fall as much as 2.3 pct to 1,070.1 rupees, their lowest since July 2014.
Stock breaks a support at 1,101.4 rupees, the 76.4 pct projection level of wave A.
Stock rides wave C of a three-wave corrective pattern, wave C might take the stock up to a 100 pct projection of wave A identified at 901 rupees.
RSI shows resistance in the range of 40 – 50, reversal may occur once RSI cuts above 50.
Stock is down 26.36 pct this year as of Wednesday's close compared with NSE Index's 17.7 pct gain.
Sify Editors @ 9:30 AM
The Sensex open in higher
The Sensex was down by 13.89 points or 0.04 per cent at the Wednesday's closing. In the day's trade, the barometer 30-scrip sensitive index had touched a high of 31,336.44 points and a low of 31,193.61 points.
The Nifty too was down by 19.90 points or 0.21 per cent.
On Thursday, Asian indices were showing a positive trend. Japan's Nikkei 225 was trading in green, up by 0.22 per cent, the Hang Seng was up by 0.55 per cent while South Korea's Kospi was also up by 0.31 per cent. China's Shanghai Composite index was quoting in green, up by 0.62 per cent.
|Cities||Gold (10g)||Silver (1Kg)|
|Chennai||Rs. 41200.00||Rs. 29593.58|
|Mumbai||Rs. 41200.00||Rs. 30096.26|
|Delhi||Rs. 41200.00||Rs. 29839.57|
|Kolkata||Rs. 41200.00||Rs. 30106.95|
|Kerala||Rs. 41200.00||Rs. 28823.53|