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. ( LIVE [email protected]Markets )
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@11.30 AM: Jubilant Life Sciences dropped 3 per cent, even as the drug maker on Tuesday reported a 65.41 per cent rise in its consolidated net profit to Rs.70.68 crore for the quarter ended March 2016.
@11.15 AM: GAIL gains 1.4 per cent ahead of Q4 numbers. The firm is expected to report 14.9 per cent growth in the net profit to Rs 586 crore for the quarter ended March 31 compared with Rs 510 crore reported in the year0-ago period.
@11.00 AM: Shares of Amara Raja Batteries slumped 5 per cent in Wednesday’s trade after the company said its net profit for the quarter ending March 31, 2016 declined 20.25 per cent sequentially. The company reported net profit of Rs 108.60 crore for the quarter compared with Rs 136.18 crore reported for the previous quarter.
@10.40 AM: ICICI Bank, HDFC, Asian Paints and Axis Bank lead Sensex gainers.
@10.35 AM: Sensex climbs over 350 points, Nifty50 above 7,850
@10.20 AM: VRL Logistics continued its slump on Wednesday, cracking another 20 per cent in trade. The stock had plummeted 20 per cent, hitting its lower circuit after the company’s promoter said it was mulling plans to open a regional airline. In a filing to the bourses, the company’s promoter Vijay Sankeshwar said the venture would be his personal investment with preliminary estimates suggesting a total investment of around Rs 1,400 crore over the next three to four years in the airline business will be required.
@10.00 AM: Here are a couple of F&O and forex strategies one can look at:
@9.45 AM: Shares of Cipla, tanked over 6 per cent in trade on Wednesday after a host of brokerage cut their price targets for the stock, following a disappointing set of March quarter numbers by the fifth largest domestic drugmaker by sales. The company on Tuesdayreported a 69 per cent per cent YoY fall in its quarterly profits, which fell far short of analysts’ forecasts.
@9.30 AM: Shares of FMCG firm Ruchi Soya Industries took a 20 per cent knock after the market watchdog Sebi barred the largest domestic soya oil producer from dealing in the securities market for indulging in manipulative and fraudulent activities in castor seed contracts.
@9.20 AM: The S&P BSE Sensex rallied over 300 points in morning trade on Wednesday led by gains in HDFC, Infosys, HDFC Bank, TCS, and ICICI Bank. The Nifty50 reclaimed its crucial resistance level of 7,800 supported by gains in IT, realty, power, capital goods, banks, and auto stocks.
OPENING BELL: Sensex spurts over 250 points, Nifty50 reclaims 7,800; Cipla slips 4%, VRL 17%
@9.10 AM: Larsen & Toubro, Tata Steel, Bajaj Auto, GAIL Ashok Layland, Apollo Hospitals, Godrej Industries, Ujjivan Financial Services, GSK Pharma, Essar Shipping, Usha Martin and VRL Logistics remained some of the BSE-listed companies that will disclose their March quarter numbers through the session.
Pre-open session: Sensex flat, Nifty50 trades at 7,777
@8.50 AM: This is what is happening in Asia …
Meanwhile, SGX Nifty is trading 71 points higher at 7,826.50 on Singapore Stock Exchange, indicating a gap-up opening for the domestic market.
@8.45 AM: And here’s what happened in the US markets:
Meanwhile, this is what happened in the European markets:
@8.40 AM: …and in the financial markets yesterday
Rupee down: The Rupee continued its incessant free fall for the ninth straight day on Tuesday by dropping 26 paise to end at a fresh 2-1/2 month low of 67.75 on sustained demand for the American currency.
Call rates stable: While, Interbank call money rate ended stable as demand from borrowing banks match supplies. The overnight call money rates ended stable at its previous level of 6.50 per cent after trading in a range of 6.85 per cent and 6.45 per cent.
Bonds weak: Government Bonds (G-Secs) weakened on selling pressure from banks and corporates. The 7.59% G-Secs maturing in 2026 fell to Rs 100.83 from Rs 100.84 previously, while its yield inched up to 7.47% from 7.46%. The 7.88% G-Secs maturing in 2030 declined to Rs 101.0050 from Rs 101.04 previously, while its yield edged-up to 7.76% from 7.75%. The 7.59% G-Secs maturing in 2029 eased to Rs 99.33 from Rs 99.39, while its yield moved up to 7.67% from 7.66%. The 8.27% G-Secs maturing in 2020, the 7.68% G-Secs maturing in 2023 and the 7.72% G-Secs maturing in 2025 were also quoted lower at Rs 103.1550, Rs 100.56 and Rs 100.43 respectively.
Liquidity: The Reserve Bank of India (RBI), under the Liquidity Adjustment Facility (LAF), purchased securities worth Rs 21,158 crore in 44-bids at the overnight repo operation at a fixed rate of 6.50 per cent as on today, while it sold securities worth Rs 1307 crore from 23-bids at the overnight reverse repo operation at a fixed rate of 6.00 per cent as on May 23.
@8.30 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:
>> Morgan Stanley said the pillars that have held the emerging market rally in the past three months are crumbling.
>> Even as oil prices rally on the news that US demand is rising due to a drawdown on the inventory, a threat is looming in the East. Chinese ‘teapot’ refiners, who have been importing around 1 million barrels a day, may see their demand fall due to logistical, financial and policy pressures.
>> Citi Bank sees the Indian economy growing at the rate of 7.8% in Q4 of the financial year ending March 31. This can be a booster shot and will be the fastest pace of quarterly growth in six quarters.
>> One of the strongest weather systems in the world has just ended as per reports by the Australian Met Department. The weather system that wreaked havoc in India, Asia and Africa will now give way to bountiful rain in the form of La Nina, which is expected to develop around July-September.
@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…
I just made a killing in the stock market — I shot my broker — Henny Youngman
(Source: BSE/NSE/Reuters/ sgxnifty.org )