Tag: Market news

Market opens in the red, IndiGo shares tank 10%, pharma stocks up

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The market opened lower tracking weak global cues on Tuesday and ahead of the Reserve Bank of India’s decision on the monetary policy and key interest rates on Wednesday.

Investor sentiments were also guided by the movement of rupee, oil prices and a slew of corporate earnings.

The Sensex ​traded lower by 20.48 points to 37,473.90, while the Nifty 50 was down by 16.20 points to 11,303.30. Nifty Bank shed more than 67 points, lower by 0.24 percent to 27,775. Nifty MidCap was trading flat, marginally higher at 18,814.50.

Index gainers included Axis Bank, Tech Mahindra, Dr Reddy’s Labs, ONGC, Power Grid, while the laggards were led by BPCL, ICICI Bank, Vedanta, HPCL, HDFC.

Among sectoral indices, Nifty PSU Bank was down by 0.08 percent, while others trading in the red were metal, fin service, FMCG. Nifty Pharma was higher by 0.43 percent, while Nifty Realty rose by 1.49 percent.

BSE MidCap and SmallCap were largely flat, trading higher by 0.30 percent and 0.20 percent respectively. Among BSE sectoral indices, realty was up by 1.49 percent, consumer durables 0.74 percent higher, power was up by 0.69 percent and utilities rose by 0.83 percent.

Among specific stocks, shares of InterGlobe Aviation, the parent company of IndiGo, tanked over 10 percent in early trade on Tuesday after the aviation company’s first quarter results disappointed the streets with brokerage firms revising their calls on the stock.

Shares of Shree Cement recovered 7 percent from Monday’s lows after CNBC-TV18 clarified to the street that the other expenses included a large forex loss.

Oil marketing companies’ stocks were down after Brent crude oil prices strengthened, while pharma stocks led by Dr Reddy’s and Lupin rallied higher.

Asian markets slipped into the red tracking rout in technology stocks on Wall Street. Japan’s Nikkei surged over 0.3 percent after the Bank of Japan kept interest rates unchanged, while Hong Kong’s Hang Seng was down by over half a percent.

US markets slided yesterday after rout seen in technology stocks.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Closing Bell: Sensex ends 157 points higher, Nifty settles near 11,320, Nifty PSU Bank rises 4.3%

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Sensex closes at 36,858; Nifty settles below 11,150; NTPC loses 4%

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Indian markets ended on a mixed note on Wednesday with the Sensex closing at record high, but the Nifty slipped in the red at close. Benchmark indexes were pulled lower by profit booking in the last hour of trade in midcaps and metal along with IT, energy and auto stocks.

The BSE Sensex closed at 36,858.23, higher by 33.13 points, or 0.09 percent, while the Nifty settled at 11,122.85, down by 11.45 points, or 0.10 percent.

SBI, HDFC, Tata Steel were among top gainers, while NTPC lost nearly 4 percent, followed by Asian Paints, Axis Bank among others. BSE MidCap turned negative towards the end.

(Market update as of 3.40 pm)

Here’s how the markets fared in the post-noon session

The Indian benchmark indexes were trading positive, with the Sensex gaining 76.71 points, at 36,901.81 and the Nifty gaining 10.10 points, at 11,144.40.

The Sensex and Nifty touched record highs in opening after which the market came under pressure due to mixed corporate earnings.

Prominent gainers included Yes Bank, Adani Ports, Vedanta, Hero MotoCorp, Tata Steel, Bajaj Auto, HDFC, IndusInd Bank, Reliance, Wipro, SBI, ITC, rising by up to 2 percent.

Whereas, Bharti Airtel, NTPC, Kotak Bank, Hindustan Unilever, TCS, Coal India, Sun Pharma, Maruti, Asian Paints were among the top losers.

Maruti dropped by a percent after the company announced to voluntarily recall for a possible fault in airbag controller unit of 566 new Swift and 713 new Dzire manufactured between May 7 and July 5.

Cement stocks declined after the NCLAT upheld the CCI penalty of Rs 6300 crore on 11 companies.

MidCaps on both indexes traded in the positive zone, with the Nifty MidCap rising by 0.33 percent, while the BSE MidCap by 0.18 percent.

Among sectoral indices, BSE metal gained the most by 1.12 percent, while Telecom declined the most by 1.39 percent. Consumer durables was other the significant loser, down by 0.86 percent.

Also, catch all the action and updates in our Market Live blog

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Sensex, Nifty consolidate gains; midcaps post recovery

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The market rebounded after a flat opening on Friday as the benchmark indexes were helped by sustained buying in IT, bank, NBFC, capital goods and auto shares.

The Sensex was trading higher by 168 points to 36,519 at noon, while the Nifty was at 11,011, adding 55 points. The BSE index had lost nearly 169 points in the previous two sessions.

Bajaj Finance and Bajaj Finserv were the top Nifty gainers, followed by Infosys, Tech Mahindra, and L&T. Vedanta, OMCs and ONGC were among the top losers on the NSE.

On the BSE, Infosys, L&T, Reliance, ICICI Bank, Sun Pharma, Adani Ports, Axis Bank were trading higher, while Vedanta, ONGC, HDFC twins, Kotak Bank, Power Grid, Yes Bank were trading lower.

Among sectoral indices on the BSE, capital goods and IT gained, while metal and oil and gas were in the negative zone. Midcaps rose by over half a percent.

Investor sentiment was also buoyed by expectation of the Narendra Modi government winning the first no-confidence motion it is facing in four years in the Lok Sabha.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Closing Bell: Sensex, Nifty end in the red, weak rupee, midcaps pull indexes lower, Kotak Mahindra falls sharply post Q1 results

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

July 19: Here are the 10 vital things you should know before the market opens

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The market is expected to open in the green on Thursday on mixed global cues. Political concerns may linger on the minds of investors as the Narendra Modi government will face a no-trust motion on Friday.

Here are the top 10 cues before the opening bell:

Asian markets: Asian shares made early gains on Thursday as upbeat Wall Street earnings supported global investor sentiment. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.53 percent, while Japan’s Nikkei and the Australian benchmark advanced 0.42 percent and 0.38 percent, respectively.

SGX Nifty: The Singapore traded SGX Nifty Futures traded at levels around 11,010 Vs Nifty July Futures’ Wednesday close of 10,978, indicating a green opening for the Indian market.

Oil: Crude oil prices extended gains from the previous session, buoyed after official data showed that US inventories of gasoline, diesel and heating oil unexpectedly fell last week. Brent crude futures had risen 8 cents to $72.98, Reuters reported. West Texas Intermediate (WTI) crude futures climbed 20 cents, or 0.3 percent, to $68.96, it added.

Rupee: The rupee closed at 68.62 a dollar, down 0.24 percent from its previous close of 68.46.

US markets: The S&P 500 rose to its highest in more than five months and the Dow climbed for a fifth session on Wednesday as solid earnings boosted financial and industrial stocks and reinforced expectations for a strong second-quarter reporting season.

Market at close: The Sensex tumbled from its all-time high to end 147 points lower at 36,373.44. The Nifty too slipped below the 11,000 mark to finish at 10,980.45.

DIIs/FIIs: Foreign portfolio investors (FPIs) sold shares worth a net of Rs 673.99 crore on Wednesday, while domestic institutional investors (DIIs) bought shares worth Rs 840.06 crore, PTI reported.

Sugar sector: Prime Minister Narendra Modi headed CCEA approved Fair & Remunerative Price for 2018-19 sugar season payable by sugar mills at Rs 275 per quintal for a basic recovery rate of 10 percent for sugar.

Real estate sector: Union minister Piyush Goyal is going to hold meeting with top banks, HFCs, NBCCs to discuss critical issues and possible measures to boost real estate sector today. Chiefs of SBI, PNB, BoB, NBCC, NHB, HUDCO, LIC Housing, HDFC, Yes Bank are expected to join the meet along with finance secretary, DEA secretary, among other government officials.

June quarter results: Kotak Mahindra Bank, Bajaj Finance, Bajaj Fin services, ABB India, AB Money, DB Corp, Hatsun Agro, RBL Bank, Sagar Cement, Sterlite Technologies, Menon Bearing, GNA Axles, Omax Auto, Shree Digvijay Cement, Vikas Eco, VLS Finance are going to release their earnings for the first quarter of FY19 ended in June.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Sensex at fresh record high, Nifty starts above 11,050

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The BSE Sensex on Wednesday scaled a fresh record high of 36,747, while the Nifty started above 11,050 mark, 100 points away from its record high.

Indian market was seen extending Tuesday’s broad-based gains in the opening, tracking positive cues across global markets.

Investor sentiment was buoyed by strong corporate earnings posted by Federal Bank, Zee Entertainment, Ashok Leyland, ICICI Lombard and several others.

The Indian rupee too opened stronger at 68.42 against the US dollar after Tuesday’s close of 68.45.

However, the benchmark indexes were later dragged by MidCaps. The Sensex dropped to 36,586.67, while the Nifty stood at 11,036.30.

Shares of HDFC Bank, HDFC, Zee Entertainment, UltraTech Cement, ONGC, Adani Ports, Eicher Motors, Sun Pharma gained on both indexes, while the laggards included Lupin, UPL, Hindalco, Ideal Cellular, Bharti Airtel, Vedanta, Tata Steel, Tata Motors on both indexes.

HUL slided on the second day after brokerages downgraded the stock’s rating post June quarter results.

Among sectoral indices on the BSE, only oil and gas surged over a percent, while telecom traded below a percent. On the NSE, Nifty Media was leading with gains of 0.83 percent.

Shares of Punjab National Bank (PNB), Indian Overseas Bank (IOB), Andhra Bank, Corporation Bank and Allahabad Bank reacted positively on the government’s capital infusion plan.

Track latest market updates with CNBC-TV18’s live blog

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Closing Bell: Sensex ends 146 points lower, Nifty settles below 11,000, midcaps decline over 1%, Tata Steel dips 6%

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Sensex sheds 236 points, Nifty tests 10,900 mark, pulled by MidCaps, weak Asian cues; Infosys, HUL shares gain

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Indian markets declined sharply in the afternoon trade due to selling pressure in pharma, auto, metal and bank shares. The Sensex declined by 236 points, or 0.65 percent, to 36,3.05.41, while the Nifty shed 88.60 points, or 0.80 percent, to 10,930.30 at 3.05 pm.

MidCaps on both indexes fell nearly 2.5 percent. Except IT and Teck, all other sectoral indices on the BSE were trading negatively with maximum decline seen in Realty (3.03 percent), Healthcare (3.02 percent), Telecom (2.79 percent), Industrials and Basic materials (over 2 percent).

On the NSE, Nifty Metal, Pharma, Realty declined over 3 percent. Pharma, in fact, the most by 3.86 percent. PSU Bank declined by 2.36 percent and Media fell 2.34 percent.

Here’s how the markets fared around noon

Indian shares traded lower on Monday after opening flat amid weak Asian cues due to weaker China economic data.

Investors have also adopted a cautious approach ahead of the release of wholesale price index (WPI) and corporate earnings of more than 100 companies this week, including fast-moving consumer goods (FMCG) major Hindustan Unilever Ltd, which is due later today.

At 11.52 AM, the BSE Sensex traded at 36,462.60, lower by 79.03 points or 0.22 percent, while the NSE Nifty 50 was trading below 11,000 level, at 10,975.95, down by 42.95 points or 0.39 percent.

Both the BSE Midcap and Smallcap index were down 1.32 percent and 1.62 percent respectively.

All sectoral indices were in the negative zone, except FMCG (0.16 percent), information technology (IT) (1.42 percent) and teck (1.09) on the BSE.

The BSE Metal, Energy, Healthcare and Realty declined the most by up to 2.22 percent.

On the NSE, the Nifty Pharma declined the most by 2.56 percent, followed by Realty at 2.25 percent.

Other top losers among sectoral indices were PSU Bank at 1.68 percent, metal at 1.83 percent.

Only IT and FMCG traded in the positive zone.

Infosys share price, however, topped the gainers list by rising about 5 per cent even as company’s earnings fell below market expectations.

Top laggards that dragged key indices were ICICI Bank, Tata Motors, Sun Pharma, Yes Bank, RIL, Hero MotoCorp, SBI, M&M, Tata Steel, Vedanta, Coal India, Adani Ports and Axis Bank.

Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net Rs 1,104.65 crore, while domestic institutional investors (DIIs) bought shares worth a net Rs 872 crore on Friday, PTI reported.

Asian shares were lower after China economic data posted weaker growth figures.

Hong Kong’s Hang Seng was down 0.13 per cent, while Shanghai Composite fell 0.47 per cent in early trade. Financial markets in Japan are closed today for a public holiday.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Sensex, Nifty trade flat on negative global cues, weak rupee; IT shares rise, auto, pharma slip

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Indian markets continue to trade flat with the BSE Sensex trading lower by 39.57 points, or 0.11 percent, to 36,200.05. The Nifty also traded marginally lower by 9 points, or 0.08 percent, to 10,938.25. TCS rose nearly 2.7 percent capping the losses on the 30-share index.

Other gainers include Baja Auto, Axis Bank, HUL, Kotak Bank, ITC, Sun PHarma, M&M, Infosys. Reliance trades flat at 0.14 percent, while shares of Asian Paints, HDFC Bank, ONGC, Wipro, HDFC, ICICI Bank were notable losers.

BSE Metal traded lower by 1.76 percent, while BSE Realty, Teck, Information Technology, FMCG were trading higher by 1.04 percent, 1.18 percent, 1.40 percent, 0.72 percent respectively. BSE MidCap was marginally lower, while Nifty MidCap was slightly higher.

(Market update as of 11.15am)

Here’s how the Sensex and Nifty fared in the opening trade

Indian markets opened on a subdued note on Wednesday tracking their Asian peers as investors remained cautious amid escalating trade row between the US and China.

The Trump administration on Tuesday announced a list of tariffs on $200 billion in Chinese goods.

While the BSE Sensex opened higher by 23.84 points, or 0.07 percent up, at 36,263.50, the broader Nifty 50 started lower by 4 points, or 0.04 percent, at 10,943.30.

At 9.40am, the Sensex was trading in the green at 36,262.12 while the Nifty was at 10,956.40, rising 9.15 points.

IT stocks rose after TCS reported a strong Q1 earning. Shares of Tech Mahindra, TCS, Wipro, HCL Technologies, IndiaBulls Housing Finance rose in early trade by up to 1.88 percent.

Whereas Vedanta, Hindalco, Hero MotoCorp, Cola India, UPI declined by up to 1.86 percent. Coal India slipped below 50-day moving average in early trade.

Among sectoral indices on the BSE, information technology gained by 1.35 percent. BSE Metal was trading lower by 1.24 percent.

On the NSE, sectoral indices were trading mixed with notable gainer being Nifty IT, trading higher by 1.09 percent, while the Nifty Metal was down by 1.36 percent. As many as 24 scrips advanced on the broader index against 26 declines.

The rupee extended losses for the second session, weakening by 5 paise to trade at 68.87 against the US dollar in early trade today on sustained capital outflows as the greenback strengthened overseas. Yesterday, the rupee had ended lower by 10 paise to close at 68.82.

Asian shares were down with Nikkei lower by 1.69 percent, while Hong Kong’s Hang Seng was down nearly 1.76 percent at 0945 IST.

Wall Street gained for the fourth day in a row overnight on Tuesday. The S&P 500 index added 9.67 points, or 0.3 percent, to 2,793.84. The Dow Jones Industrial Average rose 143.07 points, or 0.6 percent, to 24,919.66. The Nasdaq composite picked up 3 points to 7,759.20.

Crude oil prices fell on Wednesday, with Brent crude futures down by $1.10, or 1.4 percent, at $77.76 a barrel by 0112 GMT. US crude was down 68 cents, or 0.9 percent, at $73.43.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow