Sensex Finishes Strong, Maruti Suzuki Continues To Rise

Indian share market gathered steam in the final few hours of trading session to finish on a strong note amid strong European markets. The markets finished in green for fourth straight session on continued buying by domestic institutional investors amid expectations of positive GDP data to be released later in the day.

At the closing bell, the BSE Sensex stood higher by 259 points, while the NSE Nifty finished up by 82 points. Meanwhile, the S&P BSE Mid Cap & the S&P BSE Small Cap finished up by 1.1% and 1.3% respectively. Bank stocks and FMCG sector were among the BSE gainers today.

Moving on to news from stocks in telecom sector.

Idea Cellular share price plunged 2% today after it was reported that Malaysia's Axiata is reportedly looking to sell its 20% stake in the company.

Bharti Airtel, Idea Cellular and Reliance Communication share prices have plunged 2%, 15% and 32% since the launch of Reliance Jio.

Moreover, Idea is expected to be the worst hit among incumbent operators following the demonetisation of Rs 500 and Rs 1,000 notes earlier this month.  A 2% fall in revenue because of the move could lead to a 4-5% impact on earnings per share.

At the time of writing share market news, INR was trading at 68.53 against the USD in the afternoon session, whereas, oil prices were trading at US$ 47.32.

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Sensex Finishes Flat; Maruti Suzuki Top Performer

Indian share market turned flat in the last hour of trade on the back of weakness in IT sector, FMCG sector and bank stocks.

At the closing bell, the BSE Sensex stood higher by 44 points, while the NSE Nifty finished up by 15 points. Meanwhile, the S&P BSE Mid Cap & the S&P BSE Small Cap finished up by 0.5% respectively. Gains were largely seen in auto sector and consumer durable stocks.

(Looking for BSE gainers today?)

According to a leading financial daily, the government has informed that the Indian economy grew at 7.1% in the first six months of the current financial year despite subdued growth in the world economy. The data comes ahead of the last pre-demonetisation GDP figures, pertaining to the second quarter ending September.

Moving on to news from automobile sector.

According to an article in The Livemint, Suzuki Motor Corp. plans to invest Rs 26 billion through its unit Suzuki Motor Gujarat (SMG). The company intends to build its second assembly plant in India and an engine and transmission unit.

Maruti Suzuki share price finished the trading day up 4% on the BSE.

Meanwhile, automobile stocks finished on a strong note with Eicher Motors (Get Eicher Motors share price) and Maharashtra Scooters leading the gainers today.

The rupee was trading at 68.65 against the US$ in the afternoon session. Oil prices were trading at US$ 46.56 at the time of writing the share market news.

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Sensex Finishes Flat; Bank Stocks Tumble

Indian share market began the trading week on a flat note amid mixed global markets. At the closing bell, the BSE Sensex stood higher by 34 points, while the NSE Nifty finished up by 13 points. Meanwhile, the S&P BSE Mid Cap & the S&P BSE Small Cap finished up by 1% and 0.7% respectively. Gains were largely seen in realty stocks and power sector.

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Bank stocks were the biggest drag today after RBI had asked banks to maintain a temporary incremental cash reserve ratio (CRR) of 100% to absorb excess liquidity from the system after the government's move to withdraw larger banknotes sparked a surge in deposits.

Cipla share price finished the trading day on an encouraging note (up 1.3%) after it was reported that the company is in discussions to sell Cipla Vet, its animal health division.

Cipla share price has surged 19% in the last six months.

In another development, Global banks and rating agencies, including Fitch Ratings, Deutsche Bank and DBS Bank, have downgraded India’s growth in the wake of demonetisation of high-value notes. Fitch Ratings stated that demonetisation will have a ‘negative’ impact on growth in the short run but for the full fiscal, the GDP decline would be ‘relatively moderate’.

The ratings agency, however, expects India’s GDP growth to trend higher than China’s in the medium term, adding that it would accelerate next fiscal on the back of reforms and monetary policy easing.

The rupee was trading at 68.72 against the US$ in the afternoon session. Oil prices were trading at US$ 45.56 at the time of writing the share market news.

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Sensex Finishes Strong; IT, Pharma Stocks Surge

Indian share market gained further momentum in the afternoon session as IT stocks were boosted by a weaker rupee. Sentiments also remained positive on account of firm Asian markets.

  At the closing bell, the BSE Sensex stood higher by 456 points, while the NSE Nifty finished up by 149 points. Meanwhile, the S&P BSE Mid Cap & the S&P BSE Small Cap finished up by 1.3% and 2% respectively.

IT sector and Pharma stocks witnessed a surge. 

(Find a list of BSE gainers today.)

According to a leading financial daily, India recorded overall power deficit of 0.7% in first seven months of the current fiscal.

According to an article in The Livemint, health of the power sector directly impacts that of the finance sector as 70-80% of the funds invested in any new power project are from financial institutions.

Moving on to FMCG stocks.

According to a leading financial daily, Britannia Industries is looking to expand its sales and distribution network in the Northern and Western states, besides increasing its sales in rural areas. In order to attract more customers in rural markets, the company is planning to come up with more low-price offerings in these areas.

In addition, Britannia Industries recently opened a modern research and development facility in Bidadi, on the outskirts of Bengaluru.

The move is part of Britannia’s larger attempt to shake off its reputation of being a laggard in innovation, become more cost-efficient and move more manufacturing in-house. It comes at a time when the company faces tough competition from the likes of Parle, ITC Ltd and Mondelez International Inc. 

(Get ITC share price)

Britannia share price finished the trading day up by 1% on the BSE.

Indian Rupee was trading at 68.46 against the US Dollar. Oil prices were trading at US$ 47.64 when share market news was written.

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Sensex Finishes Lower; Rupee Downtrend Continues

Indian share market continued to trade weak in the afternoon session and finished the trading session well below the dotted line.

At the closing bell, the BSE Sensex stood lower by 191 points, while the NSE Nifty finished down by 68 points. Meanwhile, the S&P BSE Mid Cap & the S&P BSE Small Cap finished down by 0.1% respectively.

Losses were largely seen in banking sector and auto sector.

Infosys share price surged 1.3% in today’s trade after it was reported that the company has inked a definitive agreement to a Limited Partner investment of Rs 316 million from its Innovation Fund in Stellaris Venture Partners, an India-based early stage venture fund.

In another development, Rallis share price finished on an encouraging note (up 3.3%) after the company announced it will acquire an additional 26.37% stake in its arm Zero Waste Agro-Organics for nearly Rs. 200 million.

Rallis share price has dropped 10% since PM Narendra Modi's announcement of demonetization of big notes on November 08, 2016.

The rupee was trading at 68.66 against the US$ in the afternoon session. Oil prices were trading at US$ 48.05 when share market news was written.

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Sensex Finishes Higher, Metal & Realty Stocks Surge

Indian share market finished the trading day on a positive note amid mixed international markets.

At the closing bell, the BSE Sensex stood higher by 91 points, while the NSE Nifty finished up by 31 points. Meanwhile, the S&P BSE Mid Cap & the S&P BSE Small Cap finished up by 1.2% and 1.5% respectively.  

Metal stocks and realty sector were among the primary BSE gainers today.

Axis Bank share price finished the trading day on an optimistic note (up 1.9%) after it was reported that the company is eyeing to raise up to Rs 18 billion from debentures to fund business expansion.

In another development, Axis Bank has reduced rates on fixed deposits of tenures between one and three years by 25 to 50 basis points (bps).

(Looking for bank stocks?)

At 7%, the interest rate offered by the bank on one-year deposits, is now on par with that offered by larger rivals - ICICI Bank and HDFC Bank. (Get ICICI Bank share price.)

Moving on to news from pharma stocks.

According to a leading financial daily, Sun Pharmaceutical Industries has executed definitive agreements for acquisition of 85.1% of JSC Biosintez, a Russian pharmaceutical company engaged in manufacture and marketing of pharmaceutical products in Russia and CIS region.

Sun Pharma share price finished the day up by 1.6% on the BSE.

At the time of writing the share market news, Indian Rupee was trading at 68.52 against the US Dollar.

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Sensex Finishes Up by 195 Points, L&T share price drops 1.4%

Indian share market witnessed buying activity in the afternoon session on firm global cues. Sentiments also remained positive as oil prices rose to their highest level since October in anticipation of OPEC-led output cut.

At the closing bell, the BSE Sensex stood higher by 195 points, while the NSE Nifty finished up by 73 points. Meanwhile, the S&P BSE Mid Cap & the S&P BSE Small Cap bucked the week trend and finished up by 1.4% and 1.2% respectively. Metal stocks and realty sector led the BSE gainers today.

Vedanta share price surged 4.9% in today’s trade after it was reported that the company has received its board’s approval to raise Rs 300 crore through issue of Secured Redeemable Non-Cumulative Non- Convertible Debentures (NCDs) of face value of Rs 10 lakh each.

Mining stocks finished on a firm note with NMDC Ltd (get NMDC share price) and Vedanta Ltd leading the gains.

Moving on to news from engineering stocks.

According to a leading financial daily, Larsen & Toubro’s (L&T) construction arm - L&T Constructions has bagged orders worth Rs 19.26 billion across its various business segments. Under, Power Transmission & Distribution, the business has secured orders worth Rs 5.71 billion.

L&T share price finished down by 1.4% on the BSE ahead of Q2 numbers.

At the time of writing share market news, INR was trading at Rs 68.23 against the USD.

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Weak Start to the Week, BSE Realty Index Falls by 4.7%

Indian share market continued to remain under pressure in the afternoon session. At the closing bell, the BSE Sensex stood lower by 385 points (down 1.5%), while the NSE Nifty finished lower by 151 points (down 1.8%). The S&P BSE Mid Cap & the S&P BSE Small Cap finished lower by 2.8% and 3.2% respectively.

Stocks in the realty sector were the worst affected in today’s trade. Certain stocks in this sector such as DLF (DLF share price) and India Bulls Real Estate (India Bulls share price) witnessed immense selling pressure. Since, the announcement of demonetization of 500 and 1,000 rupee notes, the S&P BSE Realty sector has witnessed a sharp fall of around 20%.

In another news update, Shree Cements has submitted a preliminary report to buy a majority stake in Odhisa based Shiva Cements Ltd.

Reportedly, Shree Cements is offering around Rs 15 for every share held by the shareholders. At the time of writing share market news, Shiva Cement share price was trading at Rs 7.9 (up 4.9%).

(Looking for BSE gainers today?)

Rupee was trading at 68.25 against the US$ in the afternoon session.

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Sensex Drops 77 Points, Nifty Hit a Six Month Low

Indian share market witnessed selling pressure in the afternoon session as sentiments remained subdued after US Federal Reserve Chair Janet Yellen signalled of an imminent interest rate hike. 
 

At the closing bell, the BSE Sensex stood lower by 77 points, while the NSE Nifty hit a six month low to finish at 8074. Meanwhile, the S&P BSE Mid Cap & the S&P BSE Small Cap bucked the week trend and finished up by 0.6% and 0.3% respectively. 

Sectoral indices finished the day on a mixed note with energy sector and pharma stocks led the BSE gainers today.

 While metal stocks and FMCG sector witnessed the maximum selling pressure.

The rupee fell and was trading at 68.09 against the US$ in the afternoon session. Oil prices were trading at US$ 44.91 at the time of writing share market news. 

Coal India Limited sold 7 million tons of coal, or 35% of the quantity on offer in an e-auction recently. Most of the coal was sold near the floor price that was 20% higher than listed prices for non-power users. (Get Coal India share price)

Stocks from mining sector ended the trading week on a mixed note with NMDC Ltd and MOIL Ltd leading the losses.

Moving on to bank stocks...

With major infusion of fresh liquidity arising from the demonetization measure, ICICI Bank and HDFC Bank slashed fixed deposit (FD) rates by up to 0.25%. 

ICICI Bank share price and HDFC Bank share price dropped by 1.3% and 1.6% respectively.

Read a detailed Indian stock market update. For terms of use, visit here.

Stock Market Closes in Red for the Fourth Consecutive Session

Indian share market witnessed some selling pressure during the afternoon session and finished below the dotted line for the fourth consecutive day.

At the closing bell, the BSE Sensex closed lower by 71 points, whereas the NSE Nifty finished down by 32 points. The S&P BSE Midcap & the S&P BSE Small Cap finished down by 0.4% and 0.6% respectively. IT stocks and capital goods sector were under pressure. While power stocks and metal stocks led the pack of BSE gainers today.

The rupee was trading at Rs 67.91 against the US$ in the afternoon session. Oil prices were trading at US$ 45.73 at the time of writing.

Lupin share price finished the day on an optimistic note (up 0.4%) after the company announced that it has received US drug regulator's final approval for tablets that are indicated for the relief of moderate to moderately severe pain.

Moving on to the news from stocks in FMCG sector (or FMCG stocks).

As per an article in Business Standard, ITC’s US-based arm King Maker Marketing Inc. (KMM). has ceased to be its subsidiary. KMM was into business of import and distribute tobacco products to licensed wholesalers and retailers throughout the USA.

ITC share price was up 0.7% by the time share market news was written.

Read a detailed Indian Stock Market Update. For terms of use, visit here.

Sensex Ends the Day on a Flattish Note

After opening the day on a firm note, Indian share market lost its early gains and closed the day in the negative territory.

At the closing bell, the BSE Sensex stood lower by 5 points, while the NSE Nifty finished marginally higher by 3 points.

However, the S&P BSE Mid Cap & the S&P BSE Small Cap index ended the day in green. S&P BSE Mid Cap index ended the day trading higher by 0.6%.

Stocks in pharma sector witnessed maximum selling pressure during the day. Cipla share price fell by 3.19 per cent, whereas Lupin share price fell by 2.7 per cent.

In another news update, spot electricity rates continue to remain high in the Southern part of India as compared to other geographies. The spot rate of electricity in South on the Indian Energy Exchange (IEX) stood at Rs 2.75 per unit as compared to Rs 2.49 in the north and Rs 2.4 in the eastern and western parts.

The important point to note here is that the off take from renewable projects is reducing on the back of lower spot prices of electricity. The spot price at the power exchange market is hovering somewhere around Rs 2.41/ KWH.

Whereas, tariffs in some of the agreements that these DISCOMS have signed with renewable developers are as high as Rs 7/KWH. Burdened with a huge pile of losses, the DISCOMS are increasingly shifting to purchase cheaper power from the power exchanges. This puts into jeopardy the massive renewable projects that are scheduled to come up going forward.

Owing to this, stranded capacities could build up in-turn hampering the return ratios. Reportedly, solar power offtake is already seeing curtailment in the state of Rajasthan and Tamil Nadu.

Recently, we had written an article stating the major flaw in the US$ 100 billion solar sector.

You can read a more detailed Indian Stock Market Update here. For terms of use, visit here.