3:45 Sify Finance PM:
The Indian stock market ended notably lower on Wednesday, extending recent losses.
The market opened on a bright note, but changed direction soon and thereafter, struggled to find support.
The Sensex ended down 242.88 points or 0.95% at 25,453.56.
The Nifty closed at 7717.00, down 68.85 points or 0.88%.
Bank stocks had another weak outing.
Automobile, capital goods, power, metal and realty stocks too mostly ended notably lower.
Healthcare and oil stocks too closed weak, while IT stocks found modest support.
Midcaps traded weak. Smallcap stocks were mostly subdued.
The market breadth was slightly negative.
3:26 Sify Finance PM:
The market has declined sharply in the past haf an hour and now looks headed for another weak close.
The Sensex is down 222.55 points or 0.87% at 25,473.89 and the Nifty is down 61.35 points or 0.79% at 7724.50.
Automobile, bank, capital goods, power and realty stocks are notably lower.
2:37 Sify Finance PM:
With investors not keen on holding positions, the market is finding the going quite tough this afternoon and is currently down with moderate losses.
The Sensex is down 114.84 points or 0.45% at 25,581.58 and the Nifty is down 33.85 points or 0.43% at 7752.00.
Bank stocks are down sharply. The BSE Bankex is down 1.6% and the Bank Nifty is lower by 1.4%. The PSU Bank index of NSE is down nearly 3%.
1:23 Sify Finance PM: Buy HDIL if looking at medium to long term. Go in for modest exposure at current levels and add small quantities at declines.
12:53 Sify Finance PM: Reliance Industries is a good one for investors looking at medium or long term. They can continue to hold the stock and use sharp declines to increase exposure.
12:31 Sify Finance PM: Among private sector banks, HDFC Bank looks good for medium term. One can accumulate the stock in small quantities at declines.
11:52 Sify Finance PM:
The market, which retreated after a bright start, bounced back to higher levels swiftly only to falter again due to a fresh round of selling at several counters.
Key indices Sensex and the Nifty are currently down in red, after having rallied smartly in opening trades. While worries about Chinese economy continue to weigh on the market, the government's decision to not impose retrospective minimum alternate tax on foreign investors is limiting the downside.
The Sensex is down 4.65 points or 0.01% at 25,691.79, the Nifty index of the National Stock Exchange is down 9.10 points or 0.11% at 7776.75.
11:36 Sify Finance PM: Stay invested in Infosys if looking for some solid short to medium term gains. Fresh buying can be considered at declines.
11:12 Sify Finance PM: Following a sharp 11.7% reduction in aviation fuel prices, shares of Jet Airways and SpiceJet are in demand this morning. Jet Airways rose nearly 3% and SpiceJet gained about 2% on strong buying enquiries.
10:13 Sify Finance PM: DLF is up sharply after the company said that its subsidiary DLF Home Developers Ltd and Government of Singapore Investment Corp. Pte Ltd have entered into a joint venture to invest in two upcoming projects located in central Delhi.
9:49 Sify Finance PM:
After a rousing start this morning thanks to some hectic buying at several counters in opening trades, the Indian stock market has pared a substantial portion of its gains with stocks finding resistance at higher levels.
The early buoyancy was due to the government's decision to not impose minimum alternate tax on foreign portfolio investors retrospectively. Stocks retreated soon as weakness in global markets amid lingering worries about China's growth weighed on sentiment.
The BSE benchmark Sensex, which rose to 25,939.37 in early trades, gaining nearly 250 points in the process, is currently up 104 points or 0.4% at 25,800.44. The Nifty index of the National Stock Exchange is up 30.30 points or 0.4% at 7816.15.
9:25 Sify Finance PM:
The Indian stock market has opened on a firm note this morning, with investors making some purchases in opening trades, after the government said it will not impose minimum alternate tax on foreign portfolio investors retrospectively.
The Sensex is up 111 points or 0.43% at 25,807.44, after racing to 25,939.37 at the start.
The Nifty, which rose to 7862.55, is currently up 28.05 points or 0.36% at 7813.90.
8:57 Sify Finance PM:
The Indian stock market is likely to open on a positive note this morning, as investors may shrug off weak global cues and indulge in some buying following the government's decision to not impose retrospective minimum alternate tax on foreign portfolio investors.
However, lingering concerns about China's economy and recent disappointing data on India's GDP growth and weak core sector output may weigh on sentiment.
The rupee's movements will be watched. After suffering losses on two consecutive days, the currency edged higher against the U.S. dollar yesterday to finish at 66.22, gaining 26 paise.
Some severely battered bank, capital goods and realty stocks are likely to find support and regain a bit of lost ground.
Automobile and cement stocks will remain in focus, with August sales and shipments data providing direction.
|Cities||Gold (10g)||Silver (1Kg)|
|Chennai||Rs. 27030.00||Rs. 34810.00|
|Mumbai||Rs. 28053.48||Rs. 34810.00|
|Delhi||Rs. 27272.73||Rs. 34810.00|
|Kolkata||Rs. 27433.16||Rs. 34810.00|
|Kerala||Rs. 26844.92||Rs. 34810.00|