Sensex falls 37 points in early trade on profit-booking

 The standard BSE Sensex fell over 37 points to 25,870.56 in premature deal on Wednesday as funds and trade investors booked profits after two sessions of gains among a weak tendency in the Asian area.

The 30-share barometer, which had gained 427.17 points in the earlier two sessions, enthused down by 37.45 points, or 0.14 per cent, to 25,870.56, led by fault in banking, auto, oil & gas, assets goods and PSU sector stocks.

Sensex up 55 points in opening trade on Asian cues

Mumbai: The standard BSE Senses improved over 55 points in premature deal on Monday on the back of new buying by funds and sell investors amid optimistic cues from other Asian markets.

The 30-share indicator rose by 55.08 points, or 0.21 percent, to 26,181.83 with stocks of healthcare, capital goods, banking, metal and power sectors foremost the mending.

The catalog had lost over 145.10 points in Friday assembly after FIIs and marital funds took some revenue in current outperformers.

Similarly, the National Stock Exchange directory ingenious inspired up by 9.45 points, or 0.12 percent, to 7,799.90.

Sensex rises for third straight day; trades above 25,600 level

Mumbai: The standard BSE Sensex on Thursday rose over 60 points in early deal, extending gains for the third directly day as funds and put up for sale investors made discriminating buying ahead of the TCS and Bajaj Auto periodical wages.

The 30-share catalog gained 60.75 points, or 0.23 percent, to 25,610.47 with IT, power, FMCG, healthcare and shopper sturdy division stocks leading the rise. The directory had gained 542.74 points in the last two sessions.

The broad-based National Stock Exchange catalog Nifty enthused up by 15.65 points, 0.20 percent, to 7,640.05.

Brokers said discriminating buying by participants ahead of periodical fallout of TCS and Bajaj later in the day amid a varied trend on other Asian bourses mostly inclined the emotion.

Stocks of TCS rose 1.14 percent to Rs 2,428.75 and Bajaj Auto was up 0.71 per cent to Rs 2,155.55.
In the Asian region, Hong Kong's Hang Seng catalog was down 0.13 percent, while Japan's Nikkei enthused up by 0.20 points in in the early hours deal today.

The US Dow Jones Industrial Average ended at yet another record high by rising 0.45 percent in Wednesday's deal on muscular salary and a constructive outlook on the US market by the central preserve.

Sensex up 149 points after RBI eases infra financing norms

Mumbai: The standard BSE Sensex gained over 149 points in premature deal on Wednesday on augmented buying by funds and vends investors after the RBI peaceful financing norms for transportation expansion and reasonable lodging.

The 30-share indicator gained 149.34 points, or 0.59 percent, to 25,377.99 with stocks of real estate, banking, and transportation sectors foremost the rise, brokers said.

In the earlier meeting, the catalog had gone up by 221.67 points.

The countrywide Stock Exchange guide Nifty traded advanced by 44.70 points, or 0.59 percent, at 7,571.35.

Brokers said sentiments buoyed after the RBI the recent past exempted long-term bonds from obligatory rigid norms like CRR and SLR if the money raised is used for support of communications and reasonable housing projects.

Stocks of DLF Ltd, Unitech, IDFC, SBI, Axis Bank and ICICI Bank, Mahindra and Mahindra, Reliance Industries, Infosys and Larsen and Toubro were major gainers.

Among other Asian markets, Japan's Nikkei rose by 0.02 percent, while Hong Kong's Hang Seng up 0.05 percent in early trade on Wednesday.

The US Dow Jones manufacturing regular ruined 0.03 percent higher in Tuesday's deal.

JP Morgan downgrades RIL to ''neutral''

Mumbai: JP Morgan downgraded Reliance Industries Ltd to "impartial" from "plump", saying share prices by now imitate positive catalysts even as basics stay on "a solid footing".

"While we linger helpful on Reliance Industries` policy of natural expansion in core businesses, we suppose the present share price by now reflects the helpful catalysts that were recognized in our promote in 4Q CY13," JP Morgan said in a note dated on Wednesday.

Sensex gains over 76 points in early trade

The standard Bombay Stock Exchange (BSE) Sensex rose roughly 78 points in near the beginning trade on Thursday after Tata Consultancy Services and HCL Technologies posted encouraging wages.

In addition, a diverse movement in the worldwide markets also buoyed the trading emotion here.

Sensex, Nifty zoom to all-time high; Sun Pharma, banks lead gains

Mumbai: The BSE standard Sensex on Wednesday surged by over 358 points to resolve the day at all-time final high of 22,702 after the IMF forecast of 5.4 percent growth in 2014 triggered hectic buying by FIIs who anticipate market- friendly policies by the new management post-elections.

Share brokers said that with a strong GDP forecast, rupee strengthening and increase being under control, markets could be in the middle of big rallies in the next couple of months.

DFL Infra restricted by RBI to conduct biz without permission

DFL communications investment has been limited from selling or transferring its property as well as transacting in other business actions without prior agreement from the Reserve Bank due to conclusion of the company's books and accounts inspected last year.
In a authoritarian filing to the BSE, the company on Tuesday alleged it be won't be permissible to sell, relocate, create accuse or advance or deal in any manner with its belongings and assets without prior written agreement of Reserve Bank.

Power Grid FPO price fixed at Rs 90 per share, govt to get Rs 1,600 cr

 
The government on Tuesday fixed the issue price for the sale of Power Grid Corporation shares at Rs 90 apiece, the upper end of the band, which would fetch about Rs 7,000 crore.

The follow-on public offer (FPO) of the state-run transmission utility last week saw bids for 530 crore shares, or 6.74 times the 78.7 crore shares on offer.

Retail investors and eligible employees will get a discount of Rs 4.50 a share on the issue price, Power Grid said in a filing to the BSE. The price band for the FPO was Rs 85-90 apiece.

The Cabinet approved the FPO last month. The offer comprised 13 per cent fresh equity by the company and 4 per cent stake sale by the central government.

The government will get about Rs 1,600 crore from selling 18.51 crore shares, while Power Grid will raise close to Rs 5,400 crore from its offer of 60.18 crore new shares.

After the issue, the government's holding in the company will come down to 57.89 per cent from the present level of 69.42 per cent.

The retail portion of the FPO, which closed on December 6, was subscribed 2.17 times. Qualified institutional buyers bid for 9.09 times the shares reserved for them and non-institutional buyers bid for 9.7 times the shares they were offered.

Power Grid shares closed at Rs 98.90 on the BSE, up 2.86 per cent.

This was Power Grid's second FPO. The company and the government each sold a 10 per cent stake in November 2010 at Rs 90 a share.

The company hit the capital market with an initial public offering in October 2007.

So far in the current financial year, the government has raised over Rs 1,300 crore through the sale of minority stakes in PSUs. It has set a target of Rs 40,000 crore from disinvestment this financial year.

Sensex recovers 109 points in early trade

Mumbai: The BSE benchmark Sensex recovered by almost 109 points in early trade on Friday on emergence of buying by funds and retail investors in realty, capital goods, banking and metal sector stocks.

The 30-share index, which had lost 661.77 points in the previous two sessions, rose by 108.91 points, or 0.54 percent, to trade at 20,337.96.

The National Stock Exchange index Nifty gained 29.95 points, or 0.50 percent, to trade at 6,029.00.

Brokers said fresh buying by funds, tracking a firming trend on other Asian bourses after the US Dow Jones closed above the 16,000 level for the first time on the back of a slew of upbeat economic data, influenced the trading sentiments here.

Among other Asian markets, Hong Kong's Hang Seng index was up 0.52 percent, while Japan's Nikkei gained 1.23 percent in early trade today.

The US Dow Jones Industrial Average ended at a new record high by gaining 0.69 percent yesterday.

Sensex reclaims 21K level on fresh buying

 
Mumbai: After a brief pause yesterday, the S&P BSE benchmark Sensex reclaimed the 21K level and was quoted at 21,012.77 in late morning trade due to fresh buying on the back of persistent foreign capital inflows.

Market also got a boost after Finance Minister P Chidambaram exuded confidence that the country's current account deficit will be contained below USD 60 billion in current financial year.

Foreign institutional investors (FIIs) bought shares worth a net Rs 162.53 crore yesterday as per provisional data from the stock exchanges.

The Sensex resumed higher at 21,004.54 and hovered in a range of 21,045.38 and 20,944.50 before quoting at 21,012.77 at 1030 hrs, showing a gain of 37.98 points or 0.18 percent from its last close.

The NSE-50 share Nifty also moved up by 2.20 points or 0.04 percent to 6,255.35 at 1030 hrs.

Major gainers were TCS (1.83 percent), Wipro (1.62 percent), Cipla (1.40 percent), Sun Pharma (1.36 percent), Coal India (1.35 percent), Tata Motors (1.24 percent) and ITC (1.02 percent).

Most Asian stocks reversed intra-day losses today. Key benchmark indices in Hong Kong, Taiwan, Indonesia and Japan rose 0.07 percent to 0.47 percent while indices in Singapore and South Korea fell 0.11 percent to 0.12 percent. China's Shanghai Composite was flat

BSE Sensex edges higher; IT stocks lead

The BSE Sensex rose on Tuesday, led by gains in technology stocks including Tata Consultancy Services which rose tracking weakness in the rupee and as recent underperformance of the sector made short-term valuations attractive.
Tata Consultancy Services Ltd (TCS.NS) provisionally rose 2.2 percent, Infosys Ltd (INFY.NS) gained 0.8 percent, while Wipro Ltd (WIPR.NS) surged 4.9 percent.
The Sensex rose 0.34 percent, while the broader Nifty ended 0.18 percent higher after slipping below its 200-day moving average for a brief period earlier in the day.

Sensex up over 150 points, trading above 19K-level

Mumbai: The rupee on Friday strengthened further by 20 paise to 65.81 against the dollar in early trade, largely supported by recent RBI measures.

Meanwhile, the BSE benchmark index Sensex rose by 163.71 points to 19,143 in late morning trade. Similarly, the wide based Nifty rose 16.15 points to 5,509.

The domestic currency had gained 106 paise to close at 66.01 yesterday against the dollar after steps taken by new RBI Governor Raghnuram Rajan to attract US currency inflows.

To support the rupee, RBI announced steps such as enhanced limits for exporters to re-book cancelled forward exchange contracts and a special concessional window to swap foreign currency non-resident (FCNR) deposits.

Dealers said besides increased dollar selling by exporters, a higher opening in domestic equity market and dollar's weakening against some currencies overseas helped the rupee rise.

Rajan effect: Rupee climbs 138 paise against dollar

The rupee on Thursday strengthened by hefty 138 paise to trade at 65.69 against the dollar at the Interbank Foreign Exchange market after fresh measures by the Reserve Bank of India to stem the currency's slide.

The rupee had settled at 67.07 against the dollar on Wednesday, up by 56 paise over the previous day's close.

Traders said dollar selling by exporters and banks and fresh measures announced by new RBI Governor Raghuram Rajan to curb the rupee's slide helped domestic currency recover.

The dollar's weakness against other currencies overseas also supported the rupee's sentiment, they said.

Meanwhile, stock markets were up by over 2 per cent in early trade.

The BSE benchmark index soared by 488 points to 19,055.74, while National Stock Exchange's Nifty rose by 153 points to 5,601.90 in opening trade.

The new RBI governor on Wednesday announced measures, such as liberalisation of the financial market by enhancing the limits for exporters to re-book cancelled forward exchange contracts and opening a special concessional window for swapping foreign currency non-resident deposits and dollar funds, to support the rupee.

Bloodbath on D-Street: Sensex tumbles 651 points on FII outflows

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Mumbai, Sept 3:  

Jittery investors pulled down the BSE benchmark Sensex by 651 points to 18,234.66 on Tuesday after the rupee depreciated below 68 against the dollar.

Similarly, the 50-share NSE index Nifty was down 209 points at 5,341.

The entire sectoral index on BSE tumbled with the banking index being hit the most followed by consumer durables and realty.

Banking index was down 5.06 per cent, followed by consumer durables 4.61 per cent, realty 4.39 per cent and FMCG 3.89 per cent.

Rupee depreciation

The sharp depreciation in rupee may widen the current account deficit further, posing a major challenge to the Government which is battling to revive the economic slowdown.

Vaibhav Agrawal, Vice-President (Research), Angel Broking, said: "The economic fundamentals in the near-term remain on shaky ground. Increase in oil prices due to the Syria situation is expected to add to the current account deficit burden, keeping the rupee under pressure. Hopes of quick reversal of interest rate hikes by RBI are waning, and the GDP and earnings growth outlook for FY'14 continues to have downside.''

Scrip movement

Most Sensex stocks plunged as investors booked profit after a rally witnessed in the last three days.

Reliance Industries fell 6 per cent to Rs 830 after the stock rose 10 per cent in the preceding four trading sessions. It made a low of Rs 803.80 on August 27.

Housing Development Finance Corporation lost five per cent to Rs 700 after a three-day rally of 12 per cent.

TVS Motor Company was down five per cent at Rs 30. Interestingly, Multi Commodity Exchange, which is facing the wrath of its group company National Spot Exchange settlement default, gained five per cent to Rs 411.

Axis Bank (-9.27 per cent), YES Bank (-9.13%), Piramal Ent (-8.93%), TV18 Broadcast (-8.70%), Indusind Bank (-8.45%), Federal Bank (-7.56%), Indiabulls Real Estate (-7.53%), LIC Housing Fin (-7.08%), Titan Inds (-7.07%) and Century Textile (-6.86%) were the major losers.

Lupin, MphasiS, Britannia Industries and Amara Raja were among the few blue-chip companies which gained on the BSE today.

Arun Kejriwal, Founder-Kris Research, said: “The Middle-East crisis affects the globe as much as it affects India. However, today’s market movement showed that India was the only market that was affected with the benchmarks breaching the four per cent levels intra-day before weighted average close. This clearly shows that India has enough internal problems affecting the rupee, economy and therefore the markets.''

Market sentiments improve, Sensex surges over 200 points

SI Reporter in Mumbai

Benchmark indices have closed higher, amid volatile trading session led by FMCG and IT shares.

Meanwhile, the Centre's fiscal deficit ballooned to almost 63% of Budget Estimates for 2013-14 in just first four months of the year.

The deficit stood at Rs 3.40 lakh crore (Rs 3.4 trillion) in April-July period, which was 62.8% of Rs 5.42 lakh crore pegged in the Budget, according to data released by the Controller General of Accounts (CGA).

The 30-share Sensex ended up 219 points at 18,620 and the 50-share Nifty ended up 63 points at 5,472.

Prime Minister Manmohan Singh said that the rupee's tumble is a "matter of concern" but is part of a needed adjustment due to India's large current account deficit.

Singh said that rupee depreciation will see upward pressure on inflation, but added that RBI will work on containing it.

Indian economy will grow at about 5.5% in the current fiscal and the first quarter numbers are expected to be relatively flat, Prime Minister Manmohan Singh said today.

The key trigger for markets now will be first quarter GDP data scheduled later today.

Moody's Analytics, the research and analysis wing of Moody’s expects the Gross Domestic Product (GDP) growth for the first quarter to be at 4.5%.

On the global front, Asian stocks rose and oil prices tumbled as a possible U.S. military strike on Syria appeared less likely, while the dollar remained not far from a three-week high against a basket of currencies after upbeat US growth data.
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