Tag: sensex

Markets close flat; ICICI Bank, oil marketing companies slip

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

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The markets closed flat with the BSE Sensex and the NSE Nifty closing with minor gains, while the Nifty Bank ended in the red.

Nifty Bank wrapped the trade below 50-day moving average.  ICICI Bank was the the biggest index loser in today’s session after gaining in the previous session.

The Nifty closed 15 points higher at 10,417 with Reliance and TCS being the major contributors.

The Sensex gained 0.2% at the close. The index stood at 33,940 points. The Nifty Midcap recovered 133 points from the lows to close flat at 19,633.

The rising crude prices and reports where it was claimed that the government is likely to ask oil marketing companies to absorb costs Re 1 per litre, led to big a fall in the downstream companies.

All the three oil firms, IOC, HPCL and BPCL saw a fall in the range of 6-7%.

Aviation companies, Jet airways, IndiGo and SpiceJet declined as the Brent crude hit a four-year high at $71/bbl.

Among the gainers were IT stocks which performed better as the rupee slipped against the US Dollar.

From the derivatives, the Nifty 10,400 Put added a little over 7 lakh shares in the open interest, while the 10,700 Call shed more than 11 lakh shares. The Nifty April Futures is now at one point discount spot level against Tuesday’s level of 19.25-point premium.

On the global front Asian markets closed mixed, with several regional markets giving up early gains after the recent trade fears waned in the last session.

Japan’s Nikkei closed 0.5% lower, while Hong Kong’s Hang Seng  and China’s Shanghai advanced 0.5% each.

Stocks: Exchange Announcements

Bajaj Electricals: The firm won an order for six rural electrification projects worth Rs 2,389 crore under the Saubhagya scheme.

Pennar Industries: The firm formed a special purpose vehicle with Enertech Engineering.

Bharat Forge: The company recently bagged two major export orders in protected vehicles segment.

OMCs: IOC, BPCL ,HPCL signed a memorandum of understanding with Saudi Aramco.

Goa Carbon Q4: The firm posted a net profit at Rs 11.8 crore.

Waterbase: The Central Institute of Brackishwater aquaculture signed an MoU with the company.

Sanwaria Agro Oils Q4: The firm posted a net profit at Rs 35.7 crore.

Tata Communications: The company partnered with Primestream for media asset management.

Stocks In Focus

Monsanto: The Delhi High Court rejected Monsanto’s patent suit for BT cotton seed varieties and allowed the firm to seek registration of its BT seed varieties.

From PTI: The GMR group will set up its aerospace and the defence manufacturing hub in Tamil Nadu.

HPCL: The firm declared that it did not receive any notification with respect to the absorption of Rs 1 per litre.

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

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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

Markets slip after positive opening, ICICI Bank loses

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

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Indian markets on Wednesday opened in the green with Vedanta and Reliance being the top gainers.

The BSE Sensex opened at 33,970 points while, the NSE Nifty was trading at 10,428 points.

However, the Nifty Bank showed negative signals at 25,198 points with ICICI and HDFC being the biggest losers on opening.

On global front, US stocks jumped Tuesday after Chinese President Xi Jinping said Beijing would reduce tariffs on imported cars and improve intellectual property protection, steps that could ease trade tensions. Facebook climbed as CEO Mark Zuckerberg testified before the Senate about the company’s privacy scandal.

Xi’s proposals could help the U.S. and China resolve their differences and avert a trade dispute that slows down global commerce. The dialing back of tensions helped send the price of crude oil up 3.3 percent.

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

Markets show recovery signals; ICICI bank gains

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

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The BSE Sensex while approaching the second half, continued to trade in the 33,800 range and the NSE Nifty was juggling between the 10,300-10,400 range.

Axis Bank and ICICI Bank continued to gain while auto stocks lose in trade with M&M, Hero Motocorp and Tata Motors among top index losers.

The markets on Tuesday opened strong backed by global cues. The BSE Sensex opened at 33,899 points and the NSE Nifty, touching 10,400 levels, opened at 10,417 points.

Though the global cues indicated at a weak or negative opening in the pre-market hours, Xi Jinping’s announcement of a more open trade for China strengthened the markets as trade war fears eased a bit.

The Nifty Bank, too, gained 85 points in the opening at 25,179 points. All the major indices were up by 0.30%.

Aluminium prices surged overnight after United States levied its harshest sanctions against Russia.

LME aluminium gained 7% in past two trading sessions, while the Russian index cracked more than 10% overnight.

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

Markets off highs, oil marketing companies lose

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

Listen to the Article (6 Minutes)

The markets on Tuesday opened strong backed by global cues. The BSE Sensex opened at 33,899 points and the NSE Nifty, touching 10,400 levels, opened at 10,417 points.

Though the global cues indicated at a weak or negative opening in the pre-market hours, Xi Jinping’s announcement of a more open trade for China strengthened the markets as trade war fears eased a bit.

The Nifty Bank, too, gained 85 points in the opening at 25,179 points. All the major indices were up by 0.30%.

U.S stock futures rallied, Asian shares bounced and the safe haven yen fell on Tuesday as Chinese President Xi Jinping promised to lower import tariffs on products including cars this year, helping soothe investor jitters over an escalating U.S.-China trade row.

Xi, speaking at the Boao Forum for Asia in Hainan province, said that China will take measures to sharply widen market access for foreign investors, raise the foreign ownership limit in the automobile sector and protect intellectual property of foreign firms.

(Inputs from Reuters)

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

Markets trade rangebound, oil marketing companies gain

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

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The BSE Sensex and the NSE Nifty were trading rangebound with the Sensex trading between 33,600 and 33,800 range and the Nifty trading at the 10,300 range.

The oil marketing companies continued to gain with the HPCL being the top Nifty gainer, advancing 4.14%, while BPCL and IOC were the other top oil marketing firms.

The OMCs gained post the buzz of lower crude oil prices.

Banks stocks like Yes Bank, IndusInd Bank and Kotak Mahindra continued to be the top banking stocks.

The BSE Sensex opened in the 33,600 range at 33,653 points and the Nifty opened in the 10,300 range at 10,334 points. The flat opening came amid weak global cues.

Major indices in US fell on Friday with a bulk of losses coming in from NY afternoon, going right into the close.

S&P was trading negative falling by 2.19%, while Dow was down by 2.28%. Nasdaq also fell by 2.28%.

The fall was reportedly caused by an article in The Global Times saying China won’t submit to U.S. trade intimidation.

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

Markets inch higher, Lemon Tree lists at Rs 60 per share

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

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The markets are inching higher with the indices coming above their safe levels. The BSE Sensex is trading at 33,744 points and the NSE Nifty is trading at 10,372 points.

The Nifty Bank moved 100 points higher right after the opening bell. The ICICI Bank dragged the Nifty by 7 points as it was down 2% and was among the top index losers.

The BSE Sensex opened in the 33,600 range at 33,653 points and the Nifty opened in the 10,300 range at 10,334 points. The flat opening came amid weak global cues.

Major indices in US fell on Friday with a bulk of losses coming in from NY afternoon, going right into the close.

S&P was trading negative falling by 2.19%, while Dow was down by 2.28%. Nasdaq also fell by 2.28%.

The fall was reportedly caused by an article in The Global Times saying China won’t submit to U.S. trade intimidation.

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

Bond yields in focus as RBI lifts FPI limits

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

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Bond yields will be in focus as the Reserve Bank of India (RBU) hiked FPI limits last week.

At the moment, foreign investors can buy up to 5% of total outstanding securities. The RBI has increased thisto 5.5% for the current year and 6% for the following year.

#BondCall | The 7.17%, 2028 bond yield is likely to trade in the range of 7.12-7.18% today, says Ajay Manglunia of Edelweiss pic.twitter.com/skw9sjzpaZ

— CNBC-TV18 (@CNBCTV18Live) April 9, 2018

This change means that FPIs will be able to buy bonds worth Rs 59,000 crore more this year.

Latha Venkatesh said that the market was expecting this move to  be announced on credit policy day itself. It will be a minor positive as this move was largely factored in.

Nomura told CNBC-TV18 that it expects bond yields to stabilise at 7%.

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

Markets likely to remain volatile amid trade war fears and lackluster corporate earnings

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

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Markets will be volatile, offering best opportunities for it to enter spaces where growth is going to come in the next one-three years, Vikas Khemani, President and CEO at Edelweiss Securities, said.

The markets closed flat on Friday with a positive bias, amid global trade war fears, with pharma, banks and oil marketing companies helping the indices maintain a tight range.

Khemani said that markets are fragile to newsflow, and though the panic levels seem to have settled down, “there is a sense of heightened volatility due to newsflow, both global and domestic.”

“There is a sort of tug-of-war between the macros and micros. The macros are a bit more worrisome but the micros are getting a bit better and so markets are likely to remain in a range bound but volatile,” he said.

The corporate earning results lined up next week seem to keep the markets in a tight range.

Aditya Narain, Head Research at Edelweiss Securities, said this may not be a bumper quarter in terms of earnings but the trajectory of earnings growth will be comforting at the aggregate level.

Ashwani Gujral, market expert, said although the market has seen a 2% uptick in the last week, it does not mean it’s reaching its previous highs and maybe it will maintain the 10,000-11,000 range.

This year it could trend sideways. “Up to 50% retracement of the entire decline is quite possible,” he said.

On stock and sector specifics, the best pockets to trade are the consumer stocks, which are already making new highs like Titan Company, Jubilant Foodworks, Balkrishna Industries and Piramal Industries, Gujral said.

He predicts IndiGo “to outperform the overall aviation space” and for Shriram Transport, he said it is likely for it to see a further upside up to Rs 1800 or so. “The CV (commercial vehicle) cycle may work for the company,” he added.

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

Markets trade flat, telecom stocks among top index losers

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

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The markets, as they opened, remained flat while approaching the second half of the trading hours. The BSE Sensex was trading at 33, 587 points and the NSE Nifty at 10,315 points.

Pharma stocks like Lupin, Dr Reddy’s Labs and Sun Pharma remained the top index gainers and oil marketing companies – HPCL and BPCL continued to gain.

The markets were extending losses due to weak global cues and weak performance by infra and telco stocks with Larsen, Vedanta and Bharti Airtel being the major index losers. The BSE Sensex and the NSE Nifty though trading at similar levels as yesterday show a downward trend in the intraday trend.

The markets on Friday opened flat with the BSE Sensex trading at 33,608 points and the NSE Nifty at 10,322 points.

Trump on Thursday announced that he was unhappy with China’s “unfair retaliation” and said that he had instructed the USTR (US Trade Representative) to consider whether $100 billion of additional tariffs would be “appropriate under section 301 and, if so, to identify the products upon which to impose such tariffs.”

Global markets reacted to the news immediately. Japan’s Nikkei and Korea’s Kospi began to trade sideways after Trump’s statement. The indices lost over 50 basis points in their opening.

Singapore’s SGX Nifty also reacted the same way. The index was trading at levels of 10,300 versus the Nifty April Future’s Thursday close of 10,352. The weak cues indicate a lower opening for the Indian markets.

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

Markets open flat; Hindalco, Tata Steel top losers

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

Listen to the Article (6 Minutes)

The markets on Friday opened flat with the BSE Sensex trading at 33,608 points and the NSE Nifty at 10,322 points.

Metal companies like Hindalco, Tata Steel, Vedanta were seen as the top losers in the first hour of the trade while, oil marketing companies (OMCs) – IOC, BPCL and HPCL continued to trade higher and were among the top index gainers.

Trump on Thursday announced that he was unhappy with China’s “unfair retaliation” and said that he had instructed the USTR (US Trade Representative) to consider whether $100 billion of additional tariffs would be “appropriate under section 301 and, if so, to identify the products upon which to impose such tariffs.”

Global markets reacted to the news immediately. Japan’s Nikkei and Korea’s Kospi began to trade sideways after Trump’s statement. The indices lost over 50 basis points in their opening.

Singapore’s SGX Nifty also reacted the same way. The index was trading at levels of 10,300 versus the Nifty April Future’s Thursday close of 10,352. The weak cues indicate a lower opening for the Indian markets.

The Indian markets extended gains throughout the session on Thursday, supported by strong global cues, with the benchmark indices closing at new highs despite the RBI maintaining status quo on the policy rates.

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