If you are reading this, chances are the Sensex and the Nifty are part of your daily life, and actions on Dalal Street can make or mar your day. That’s probably the reason why you are on this page, where we try to capture every action — big or small — from the listed universe of India Inc; be it largecap, midcap or smallcap. Plus, we keep you up-to-date on anything that may move your market.
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@11.11 AM: Shares of BASF India surged 9 per cent after the company swung into profit in the quarter ending March 31, 2016. The company reported net profit of Rs 77 crore against a loss of Rs 59 crore. The sale of non-core assets contributed Rs 33 crore to the profits of the company in the quarter. Live chart here
@10.49 AM: The steep correction in the market on Tuesday has resulted in fresh unwinding of long positions by foreign institutional investors. FIIs were net sellers in the futures market with selling seen to the tune of Rs 984 crore with fall in OI. Read more
@10.31 AM: Shares of Jindal Steel and Power gained 3 per cent in trade after the company said it agreed to a deal worth $976 million to sell its 1,000 MW power plant in Chhattisgarh to JSW Energy. Reacting to the deal, the scrip surged 3.55 per cent to hit a high of Rs 71.45 on the BSE. Live chart here
@10.06 AM: Shares of Adani Ports and Special Economic Zone (SEZ) slumped 10 per cent in morning trade, even as the company clocked a 38 per cent YoY jump in its consolidated net profit to Rs 914.06 crore for the March quarter. A total of 4.45 lakh shares have changed hands on the counter, compared with a two-week average of 3.18 lakh shares on BSE. Live chart here
@9.45 AM: Kotak Bank, NTPC, HDFC among top 5 Nifty50 gainers at this hour.
@9.30 AM: NTPC, HDFC, HDFC Bank, Gail and Reliance are top Sensex gainers while Adani Ports, Tata Motors, ICICI Bank, Dr Reddy’s and Coal India lead the fall in the Sensex pack.
@9.20 AM: The S&P BSE Sensex opened with losses on Wednesday, slipping over 100 points as negative cues from other Asian markets and Wall Street overnight weighed on investors’ sentiments.
The losses on the index were led by ICICI Bank, Tata Motors, Adani Ports, TCS and L&T.
The 50-share NSE barometer Nifty also traded below its crucial support level of 7,750 weighed down by losses in banking, auto, FMCG and metal stocks.
OPENING BELL: Sensex slides 100 points on weak global cues, Nifty50 holds above 7,700; Adani Ports plunges 6%.
@9.10 AM: Keep an eye on these potential market movers…
► Check out Maruti, Ricoh, Sharp India, Lumax Industries, Honda Siel Power and Hitachi Home Appliances, whose fortunes might get affected by a sharp rise in the Japanese yen.
► The Federal Bank counter is seeing a lot of buzz after reports that billionaire investor Rakesh Jhunjhunwala bought a 1.6 per cent stake in the private lender during the March quarter, while Kochi-based investor Porinju Veliyath is said to be accumulating the stock.
► JSPL and JSW Energy may announced a deal for the latter purchasing a 1,000 mw power plant from his brother’s heavily-indebted firm for over $900 million.
► After a 10 per cent fall in Tuesday’s trade, TVS Motor remains a counter to watch, as is Adani Ports, which on Tuesday posted second-worst sales performance this year.
@9.00 AM: The domestic equity indices are likely to open on a weak note on Wednesday, tracking an overnight fall in US stocks, ahead of a slew of key quarterly earnings scheduled for release later in the day.
@8:56 AM: This is what is happening in Asia ….
@8:54 AM: 6 minutes before market opens, SGX Nifty is trading 0.48% lower.
@8.35 AM: And here’s what happened in the US markets:
Meanwhile, this is what happened in the European markets:
@8.30 AM: And in the financial markets yesterday…
Rupee up: The rupee trimmed its initial gains against the US dollar and closed marginally up by 2 paise to 66.42 on selling of dollars by banks and exporters amidst fall in equity market.
Bond prices drop: The government bond (G-Sec) prices dropped following heavy selling by banks and market participants. The 10-year benchmark bond 7.59 per cent maturing in 2026 fell to Rs 100.99 from Rs 101.01, while its yield held stable to 7.44 per cent. The 7.88 per cent government security maturing in 2030 slipped to Rs 100.9475 as against Rs 101.17, while its yield gained to 7.77 per cent from 7.74 per cent. The 7.59 per cent government security maturing in 2029 slid to Rs 99.55 from Rs 99.73, while its yield edged up to 7.64 per cent from 7.62 per cent.
Call rates down: Interbank call money rate also turned lower owing to lack of demand from borrowing banks on the back of adequate liquidity conditions in the banking system.
Liquidity: Under the Liquidity Adjustment Facility (LAF), RBI purchased securities worth Rs 14894 crore in 30-bids at overnight repo auction at a fixed rate of 6.50 per cent this morning, while its sold securities worth Rs 2353 crore from 24-bids at the overnight reverse repo auction at a fixed rate of 6.00 per cent late yesterday.
@8.25 AM: Here goes a recap of how Sensex ended yesterday….
@8.20 AM: Here are all small and big stories that might affect your market today:
► From Brazil to Russia, equity markets were rattled by fresh concerns over global growth as weak economic data dominated headlines.
► Two prominent members of the US Federal Reserve’s Open Market Committee overnight said they intend to support an interest rate hike in June, six months after the US central bank raised rates for the first time in a decade.
► Concerned over its currency’s meteoric rise in the past four days, Japan’s Finance Minister has reiterated his intention of intervening in the market to tame it.
► Morgan Stanley in a research note has claimed that improving macro-economic environment, low debt levels and positive cash flow may help India Inc script a turnaround in the coming quarter.
@8.15 AM: And here are some Buy/Sell ideas to begin your trading day…
@8.00AM: Good morning, dear reader!
Here’s something to kickstart your trading day…
You get recessions, you have stock market declines. If you don’t understand that’s going to happen then you’re not ready, you won’t do well in the markets