Nifty inches towards 8350, Sensex strong; Mahanagar Gas up 30%

Equity benchmarks rallied for the fifth consecutive session today with the Nifty inching towards 8350 level, tracking positive global cues.

The Sensex rose 183.79 points or 0.68 percent to 27183.51 and the Nifty climbed 53 points or 0.64 percent to 8340.75. The broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices rising 0.8-0.9 percent.

Mahanagar Gas jumped 30% to Rs 547.30 against issue price of Rs 421 on debut.

The market opened July series on a strong note. The 50-share is up 49.05 points or 0.6 percent at 8336.80 and the Sensex is up 185.87 points or 0.7 percent at 27185.59. About 666 shares have advanced, 148 shares declined, and 41 shares are unchanged.

Dr Reddy's Labs, BHEL, Tata Steel, Wipro and Tata Motors are top gainers while ITC, Bharti Airtel, HUL, Asian Paints and NTPC are losers.

The Indian rupee opened marginally higher at 67.50 per dollar on Friday against previous close of 67.52. Pound is headed for a second weekly drop as traders mull the political fallout from the brexit vote, along with signs the Bank Of England may cut interest rates in the coming months.

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Sensex inches towards 27000, up 250 pts; Tata Motors, ICICI lead

Equity benchmarks remained strong in morning trade with the Sensex inching towards 27000 level on global support.

The 30-share BSE Sensex rallied 250.87 points or 0.94 percent to 26991.26 and the 50-share NSE Nifty climbed 72.50 points or 0.88 percent to 8276.50.

The market breadth continued to be positive as more than three shares advanced for every share declining on Bombay Stock Exchange.

All Sensex 30 stocks are in green with the Tata Motors rising over 3 percent followed by ICICI Bank, Axis Bank, L&T, SBI, Dr Reddy's Labs, HUL and Lupin with 1-2 percent upside.

Asian markets traded higher, tracking rally in US and Europe in previous session. Nikkei gained 0.8 percent and Hang Seng rose 1.6 percent.

The market has opened higher on June Future & Options expiry day. The Sensex is up 190.43 points or 0.7 percent at 26930.82, and the Nifty is up 58.30 points or 0.7 percent at 8262.30. About 447 shares have advanced, 62 shares declined, and 27 shares are unchanged.

The Indian rupee opened higher by 13 paise at 67.55 per dollar versus 67.68 Wednesday.

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Nifty opens above 8150, Sensex up over 100pts; Tata Motors gains

The market has opened on a strong note supported by strong global cues. The Sensex is up 138.86 points or 0.5 percent at 26663.41 and the Nifty  is up 40.50 points or 0.5 percent at 8168.35. About 660 shares have advanced, 98 shares declined, and 39 shares are unchanged.

Tata Motors, ICICI Bank, Dr Reddy's Labs, L&T and Sun Pharma are top gainers while GAIL and HDFC Bank are losers in the Sensex.

The Indian rupee opened higher by 17 paise at 67.78 per dollar on Wednesday versus previous close 67.95. The pound was little changed at USD 1.33 versus the dollar after gaining 0.9 percent last session, halting a two-day selloff.

Asian share markets joined a global rally on Wednesday as the immediate impact of Britain's vote to leave began to wane and investors wagered central banks would have to ride to the rescue with more stimulus measures. In Japan, the Nikkei 225 added 1.06 percent, while across the Korean Strait, the Kospi was up 0.4 percent. Australia's ASX 200 added 1.04 percent in early trade.

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Oil prices rise on looming Norway strike; Brexit still weighs

Oil prices rose in early trading in Asia on Tuesday as a looming strike in Norway threatened to cut output in western Europe's biggest producer, although Britain's vote to leave the European Union was still weighing on markets.

The affected fields account for nearly 18 percent of Norway's oil output and a little more than 17 percent of its natural gas, Reuters calculations show. Combined oil output was about 285,000 barrels per day in the first four months of the year, with natural gas output at 48.5 million cubic metres (mcm) per day.

London Brent crude futures were trading at USD47.58 per barrel at 0032 GMT, up 42 cents from their previous settlement.

"Crude oil led the sector lower as investors continued to dump risky assets. Oil was also weighed down by news that a successful ceasefire in Nigeria has allowed repairs to oil pipelines that has restricted the country's ability to export oil,"

Oil production in Nigeria has risen to about 1.9 million bpd from 1.6 million bpd due to repairs and more than a week having passed since a major pipeline attack in the Niger Delta, a state oil company spokesman said on Monday.

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Sensex weak, Midcap outperforms; FMCG, infra, banks stocks gain

Equity benchmarks continued to see volatility in morning trade after investors digested Brexit in last Friday's trade. FMCG, infra, select banks and pharma stocks gained while technology, auto and metals stocks were under pressure

The 30-share BSE Sensex fell 50.49 points to 26347.22 and the 50-share NSE Nifty declined 14.40 points to 8074.20 while the broader markets outperformed benchmarks.

Sell-off continues on Dalal Street Monday. The Sensex is down 61.89 points or 0.2 percent at 26335.82, and the Nifty down 49.25 points or 0.6 percent at 8039.35. About 269 shares have advanced, 209 shares declined, and 40 shares are unchanged.

ITC, Lupin, Tata Motors, Sun Pharma and Cipla are top gainers while Infosys, Asian Paints, TCS, Hero and NTPC are losers in the Sensex.

The Indian rupee opened lower by 12 paise at 68.08 per dollar on Monday versus 67.96 Friday. Pound extended its sell-off near a 31-year low as the fallout from the UK's vote to exit the European Union stoked anxiety among investors around the world.

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Gap down opening seen for Sensex as Brexit fears loom

Indian Indices:

Markets are likely to open lower, amid weak Asian cues, after early counting on the EU referendum indicate that 'leave' votes are slightly more than 'remain'. SGX Nifty is trading at 186 points down.

Indian Markets reversed two sessions of losses to close higher on Thursday as poll booths opened for Britons to vote on a referendum about whether or not to exit the European Union. The S&P BSE Sensex and CNX Nifty rose 0.88%-0.81% each today.

On Thursday (June 23, 2016), BSE SENSEX closed at 27002.22, rose by 236.57 points, or by 0.88%, and the NSE Nifty ended at 8270.45, down by 66.75 points, or by 0.81%.

Global Market:

Bets in Asian markets quickly reversed course Friday, with stocks dropping as early results from the U.K. European Union referendum surprised investors and sent them rushing back to haven assets.

U.S. stocks closed higher Thursday, with all three indexes rallying, as investors wagered that the U.K. will choose to remain in the European Union in a historic referendum with far-reaching implications.

European shares rose for the fifth day running on Thursday, assisted by firmer banks and miners and expectations that Britain would vote to stay in the European Union.

Major Headlines of the day:

Sun announces share buyback

Impact' effect to fuel change at Tata Motors

Tata sons ordered to pay NTT DoCoMo $1.2 billion in arbitration award for JV stake

Trend in FII flows:The FIIs were net buyers of Rs 81.87 Cr in the cash segment on Thursday while the DIIs were net buyers of Rs 203.56 Cr, as per the provisional figures.

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Indian Market Flat opening on the cards ahead of Brexit vote

Indian Indices:

Indian equity benchmarks are likely to open little changed as traders tread a cautious path ahead of the EU referendum today. SGX Nifty is trading at 2.50 points up.

Indian shares fell today, heading for their 2nd straight session of falls, a day ahead of the Brexit referendum, while Tata Motors declined on worries that its unit JLR would be hit if Britain leaves the European Union. The S&P BSE Sensex and CNX Nifty fell 0.18%-0.20% each.

On Wednesday (June 22, 2016), BSE SENSEX closed at 26765.65, down by 47.13 points, or by 0.18%, and the NSE Nifty ended at 8203.70, down by 16.20 points, or by 0.20%.

Global Market:

Asian shares edged up and sterling stood close to its peak for the year on Thursday, as investors were cautiously optimistic that British voters would opt to remain in the European Union at a referendum later in the session.

European shares rose on Wednesday, but ended off highs as results of a poll rekindled concerns that Britain may leave the European Union hours before voting in the country's membership referendum starts.

U.S. stocks finished slightly lower on Wednesday, as polls showed the outcome of a U.K. referendum on whether to leave the European Union remained too close to call a day ahead of the vote.

Major Headlines of the day:

GAIL awards Rs 550-cr contracts for 'Urga Ganga' pipeline

Ramco to set up wholly-owned subsidiary in Philippines

MTNL to submit revival plan to DoT by August

Trend in FII flows: The FIIs were net sellers of Rs -41.1 Cr in the cash segment on Wednesday while the DIIs were net buyers of Rs 361.34 Cr, as per the provisional figures.

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Cautious opening on Dalal Street on mixed global cues

Indian Indices:

Indian equity benchmarks are likely to witness a gap down opening on Wednesday tracking a bearish trend in Asia. SGX Nifty is trading at 6.50 points up.

Indian shares edged down on Tuesday as investors booked profit after a rally in the previous session, even as sentiment was supported by growing expectations that Britons will vote to remain in the European Union in this week's referendum. The S&P BSE Sensex and CNX Nifty fell 0.20%-0.23%.

On Tuesday (June 21, 2016), BSE SENSEX closed at 26812.78, down by 54.14 points, or by 0.2%, and the NSE Nifty ended at 8219.9, down by 18.6 points, or by 0.23%.

Global Market:

Asian stocks edged up on Wednesday as nervous investors counted down to Britain's make-or-break European Union referendum, while Federal Reserve Chair Janet Yellen's cautious tone on future rate hikes added to a subdued mood in markets.

European shares fell in early trading on Tuesday after a sharp rally in the previous session, with the market coming under pressure following a drop in mining and energy shares.

U.S. stocks closed slightly higher after trading within a narrow range Tuesday after Federal Reserve Chairwoman Janet Yellen cautioned that the U.K. leaving the European Union posed a risk while new polls showed support for the “stay” camp growing.

Major Headlines of the day:

SBI's ATM revenue jumps 47% to Rs 310 crore in FY16

Tata Power's arm acquires 30 MW solar project in Maharashtra.

Maruti to ramp up Baleno production, cut waiting period.

Trend in FII flows: The FIIs were net buyers of Rs 484.66 Cr in the cash segment on Tuesday while the DIIs were net sellers of Rs -335.53 Cr, as per the provisional figures.

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Indian markets ong opening on D-street amid global rally.

Indian Indices:

Indian equity benchmarks are set to witness a positive opening on Tuesday tracking an advance in stock markets across Asia and a bullish finish at Wall Street overnight. SGX Nifty is trading at 0.50 points higher.

Indian rupee may continue to be weighed down by concerns over the impact of Raghuram Rajan’s exit as the RBI governor when his three-year term ends this September .Indian shares rose, tracking a rally in global markets after polls showed support for Britain staying in the European Union regaining momentum before this week's referendum, while software services exporters such as Infosys rallied after the rupee weakened. The S&P BSE Sensex and CNX Nifty rose 0.91-0.84% each.

Global Market:

Asian shares got off to a tentative start on Tuesday, as investors paused after a rally triggered by growing expectations that British voters will opt to remain in the European Union in this week's referendum.

U.S. stocks closed up Monday, but off their session highs, following the lead of European markets as polls showed support swinging back toward the U.K. remaining a member of the European Union ahead of a referendum.

European shares indexes posted their biggest rallies since August on Monday, led by heavyweight banking stocks, as weekend opinion polls boosted expectations that Britain would vote to stay in the European Union.

Major Headlines of the day:

RCom-Aircel merger talks for another fortnight

Mahindra's services arm aims 400 service outlets this financial year

Apollo Hospitals to establish healthcare facility in China

Trend in FII flows: The FIIs were net buyers of Rs -537.47. Cr in the cash segment on Monday  while the DIIs were net sellers of Rs 724.06Cr, as per the provisional figures.

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Sensex rebounds, Nifty reclaims 8200 on global cues; Infosys up

The market has opened lower Monday amid speculation on who will replace Raghuram Rajan as the next Reserve Bank of India governor. Rajan will return to academia when his current term ends on September 4, he said in a message to central bank staff on Saturday.

The market bounced back after its early losses, tracking positive global cues. It shurgged off the RBI Governor Raghuram Rajan's exit and started focussing on Britain's referendum due on Thursday. Today's global rally is on hopes that UK is unlikely to exit European Union.

The Sensex rose 66.94 points to 26692.85 and the Nifty advanced 12.55 points to 8182.75.

Infosys, L&T, TCS and Tata Motors gained a percent each while Axis Bank, Asian Paints, ICICI Bank, Lupin and Sun Pharma fell 0.5-1 percent.

The Indian rupee slipped in the early trade on Monday. It has opened lower by 57 paise at 67.65 per dollar versus 67.08 Friday.

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INDIAN EQUITY MARKET OUTLOOK- 17 June 2016

The market opened in green riding high on positive global markets. The Sensex is up 140.51 points or 0.5 percent at 26665.97, and the Nifty up 35.90 points or 0.4 percent at 8176.65. About 393 shares have advanced, 82 shares declined, and 28 shares are unchanged.

Dr Reddy's Labs, Tata Motors, HDFC, Maruti and Tata Steel are top gainers in the Sensex.

The Indian rupee opened flat at 67.20 per dollar on Friday versus previous close of 67.21. The yen is headed for a 2.4 percent advance in the week after the Bank Of Japan standing pat on stimulus furthered a rally ignited by a tick-up in risk aversion. The dollar index rebounds to 94.4 levels

"Rupee to trade with a positive bias for the day. A little recovery in domestic equity market will help the rupee to move higher."

Asia markets opened higher on Friday marked by volatility amid concerns. Investor sentiment in Asia also received a boost after US stocks ended a five-day losing streak to close higher. Japanese shares received a boost from a relatively weaker yen, as the benchmark Nikkei 225 was up 1.54 percent. Across the Korean Strait, the Kospi was up 0.82 percent.

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INDIAN BENCHMARKS Muted start likely on weak global markets.

Indian shares are likely to open on a bearish note as the global cues look subdued with SGX Nifty trading 25.50 points lower.

Indian Indices:

Indian benchmark indices are likely to open flat on Thursday tracking muted cues from Asian peers after the Federal Reserve Chair Janet Yellen refrained from hiking interest rates citing concerns over UK’s upcoming referendum on exiting the European Union. The caution may prevail ahead of policy decision by the Bank of Japan (BoJ) and Bank of England (BoE). Losses in the CNX Nifty Index Futures for June delivery which rose by 0.5 points to 8,212.50 at 10:34 AM Singapore time also signal that Dalal Street may open flat today. Oil companies will remain in focus after petrol price was hiked by 5 paise a litre and diesel by Rs 1.26 a litre on Wednesday.

On Wednesday, the Indian benchmark indices rebounded strongly amid value buying by investors tracking firm cues from other Asian markets. Support also came with recovery in rupee and Cabinet approval to new civil aviation policy and merger of five associaties with SBI. However, uncertainty over Fed decision on interest rates and the Bank of Japan’s policy decision capped up move. The BSE SENSEX closed at 26726.34, up by 330.63 points, or by 1.25 per cent, and the NSE Nifty ended at 8206.6, up by 97.75 points, or by 1.21 per cent.

Trend in FII flows:The FIIs were net  sellers of  Rs – 108.23 Cr in the cash segment on Wednesday while the DIIs were net buyers of  Rs 234.10 Cr, as per the provisional figures.

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Sensex, Nifty, Midcap hold early gains; L&T leads, ICICI weak

Equity benchmarks as well as broader markets remained positive on Asian cues and short covering after 4-day fall. Infra, telecom, auto, FMCG and select banking & financials gained while ICICI Bank, HDFC, TCS and Dr Reddy's Labs fell.

The Sensex rose 101.75 points to 26497.46 and the Nifty climbed 28.75 points to 8137.60. The market breadth was also positive as about three shares advanced for every share falling on BSE.

L&T, State Bank of India, Bharti Airtel, Hero Motocorp and NTPC gained 1-2.5 percent.

The Indian rupee opened flat at 67.25 per dollar against previous close of 67.26.The yuan slipped to its weakest level since early February in offshore trading after MSCI Inc. denied local equities entry into their indexes. The pound was near a two-month low on Brexit concerns.

"Rupee can remain under pressure due to global events. If Indian equity market trades positively on the back of GST news then the rupee may get some support near 67.50/dollar levels."

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Sensex, Nifty choppy after 3-day fall; ICICI, Tata Motors gain

Equity benchmarks consolidate after correction in previous three days but the broader markets outperformed with the BSE Midcap and Smallcap indices rising 0.3-0.7 percent.

The Sensex fell 4.01 points to 26392.76 and the Nifty declined 4.20 points to 8106.40. The market breadth was positive as about 1235 shares advanced against 573 declining shares on Bombay Stock Exchange.

Tata Motors, ICICI Bank, SBI and Adani Ports were top gainers, up 1-3 percent while HDFC, HDFC Bank, Infosys, TCS, HUL and Hero Motocorp fell 0.5-1.5 percent.

The Indian rupee opened lower by 6 paise at 67.19 per dollar on Tuesday versus previous close of 67.13.

"The risk-off sentiment is quite evident owing to the uncertainty about Brexit referendum. Also, the June FOMC meeting, starting today, is expected to keep policy rates unchanged, but the markets will be looking for cues about the timing of hikes."

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Nifty hovers around 8200, Midcap outperforms; pharma, energy up

The market continued to consolidate with the Nifty hovering around 8200 level due to lack of global as well as domestic cues. FMCG, banking & financials and technology stocks were under pressure while infra, pharma and energy shares gained.

The Sensex declined 28.05 points to 26735.41 and the Nifty fell 6.50 points to 8197.10 while the broader markets outperformed. The BSE Midcap and Smallcap indices gained 0.3 percent and 0.6 percent, respectively.

The Indian rupee fell further in early trade. The currency has opened at 66.80 a dollar, down 9 paise compared with 66.71 a dollar in previous session.

The dollar climbed the most this month versus the euro, and strengthened for the first time in three days against the yen.

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INDIAN EQUITY MARKET OUTLOOK- 9 June 2016

Indian markets tend to open higher

Indian Indices:

Indian benchmark indices are seen opening higher on Thursday tracking overnight gains in US stock and extend a rally as monsoon had hit the Kerala coast. SGX Nifty is trading at 8.50 points up.

The market is likely to sustain bullish momentum as US Fed decision to hike borrowing costs in the world’s biggest economy only gradually, potentially putting a June rate hike off the table Indian shares ended flat on Wednesday as investors booked profit in recent outperformers, but defence stocks rose after the United States recognised the country as a 'major defence partner' during Prime Minister Narendra Modi's ongoing US visit. The S&P BSE Sensex and CNX Nifty gained 0.01%-0.08% each.

Global Market:

Asian stocks edged up on Thursday after modest gains on Wall Street overnight, while a weaker dollar buoyed commodities such as gold and crude oil.

The Dow Jones Industrial Average rose for a third straight session Wednesday to close above the psychologically important 18,000 for the first time in over a month as oil rallied to an 11-month high.

European shares fell on Wednesday after two straight days of gains, as a drop in Italian bank UniCredit and Austrian bank Erste knocked financial stocks.

Major Headlines of the day:

IOC, MRPL pay $330 mn more in 2nd tranche to Iran.

Infosys Finacle to power Paytm banking.

JSW Steel logs highest-ever monthly production.

Trend in FII flows:The FIIs were net buyers of Rs 529.16 Cr in the cash segment on Wednesday while the DIIs were net sellers of Rs -257.76 Cr, as per the provisional figures.

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Bullish trend may continue at Dalal Street

Indian Indices:

Indian markets are poised to witness a gap up opening on Wednesday and extend a rally as the Reserve Bank of India’s (RBI) continued accommodative monetary policy stance bolsters risk taking appetite. SGX Nifty is trading at 0.50 points marginally lower.

Indian shares closed higher on Tuesday after the country's central bank kept key rates unchanged, but said it would remain 'accommodative' as it keeps a watch on inflation levels. The S&P BSE Sensex and CNX Nifty rose 0.87%-0.80% each.

Global Market:

Japan's Nikkei share average eased on Wednesday as the strong yen soured investors' mood, while energy shares continued to benefit from higher oil prices.

U.S. stocks advanced, even after the S&P 500 Index pared much of its gain in the final hour of trading, as rallies in energy producers and airline operators offset slumping health-care and bank shares.

European shares touched a one-week high on Tuesday after Federal Reserve Chair Janet Yellen pushed back expectations for a rate increase without raising concerns over the strength of the world's largest economy.

Major Headlines of the day:

Wipro proposals to revive Rajarhat SEZ in Bengal

RCom-Aircel merger picks up pace, might conclude in July

GMR Infra-led consortium bags Rs2,280 cr DFCC contract

Trend in FII flows: The FIIs were net buyers of Rs 499.73 Cr in the cash segment on Tuesday while the DIIs were net buyer of Rs 46.33 Cr, as per the provisional figures.

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Indian stocks Muted start likely as Bulls take some rest.

Indian shares are likely to see a mixed start as the global cues look subdued with SGX Nifty trading 1.50 points lower.

Indian Indices:

Indian equity benchmarks are likely to open on a mixed note on Monday as investors turn their attention to the RBI’s second bi-monthly policy meet tomorrow for its prognosis on Asia’s third biggest economy even though an interest rate cut remains highly unlikely as the central bank focuses on inflation control, liquidity management and the pending policy transmission after easing policy rates by a cumulative 150 basis points over the past 18 months.

The RBI, in its April 5, 2016 policy meeting had cut the repo rate by 25 basis points to 6.5 per cent. Aside from the RBI meet, investors this week will also eye the industrial production data for the month of April and the progress of the monsoon rains.

The country’s industrial output advanced 0.1 per cent, year on year in March 2016. Meanwhile, the Met Department has ruled out any possibility of a deficient monsoon this year with 96 per cent chances of a “normal to excess” rainfall.

Global Markets:

Asian stocks dropped on Monday after dismal US May jobs data raised concerns over a loss of momentum in the world’s biggest economy, souring risk taking appetite.

China’s Shanghai Composite fell amid jitters ahead of a raft of economic data this week; Hang Seng was trading lower while Japan’s Nikkei 225 plunged over 1 per cent as a stronger yen curbed the lure for exporter stocks.

Wall Street tread water on Friday after data showed that the US economy added the fewest jobs since September 2010 in May 2016 while services expanded at the slowest pace in more than two years last month, probably putting off an interest rate hike by the Fed in the near-term.

Employment in the US grew by 38,000 in May 2016 following a downwardly revised advance of 123,000 in April 2016. The ISM’s non-manufacturing gauge fell to 52.9 in May, the weakest since February 2014, from 55.7 in April, with a reading above 50 signaling expansion.

Major Headlines of the day:

Coal India board to discuss share buyback proposal

ICICI Bank plans to go paperless in green drive

OBC targets 12% credit growth in FY17.

Trend in FII flows:The FIIs were net buyers of Rs 1585.01 Cr in the cash segment on Friday while the DIIs were net sellers of Rs -393.21 Cr, as per the provisional figures.

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Bullish start likely on global support

Indian Indices:

Indian shares are likely to see a strong start as the global cues look supportive with SGX Nifty trading 32 points higher.

Indian equity benchmarks are poised to witness a gap up opening on Friday with continued optimism over Asia’s third biggest economy bolstering the appetite for risky assets. Gains in the CNX Nifty Index Futures for June delivery which advanced by 0.35 per cent or 29 points at 8,263 at 10:32 AM Singapore time also signals that Dalal Street may open higher today.

The focus today will on the May Services PMI data which will offer further cues over the country’s economic outlook. In April, the Indian services gauge eased to 53.7 from 54.3 in March, signaling a softer pace of expansion. Caution ahead of the US jobs data which may dictate the timing of the next Fed interest rate hike may weigh on sentiment. The world’s biggest economy is tipped to have added a robust 160K jobs in May with the unemployment rate slipping to 4.9 per cent, analysts’ estimates showed. A bullish jobs report may bolster the case for the Fed to raise borrowing costs as early as June, a move which may cause capital outflows from emerging markets. Meanwhile, the OPEC shunned the idea of a production ceiling while the cartel was hopeful of a recovery in global oil prices.

The European Central Bank (ECB) refrained from fresh stimulus, while raising growth and inflation forecasts for the 19-member Euro area economy. Back home, the 30-share Sensex on Thursday rallied for a second straight day, jumping by 129.21 points or by 0.48 to end at 26,843.14 driven by Coal India which surged after raising coal prices.

Trend in FII flows:The FIIs were net buyers of Rs 851.85 Cr in the cash segment on Thursday while the DIIs were net sellers of Rs -576.86 Cr, as per the provisional figures.

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