Sensex, Nifty choppy

The S&P BSE Sensex is trading at 26671.60 up 20.85 points, while NSE Nifty is trading at 8,221 down 1.80 points.

The November data highlighted an eleventh consecutive monthly improvement in manufacturing conditions across India, with the headline seasonally adjusted Nikkei India Manufacturing Purchasing Managers’ Index (PMI) registering 52.3. However, down from October’s 22-month high of 54.4, the latest reading pointed to a modest upturn overall.

At 11:10 AM, the S&P BSE Sensex is trading at 26671.60 up 20.85 points, while NSE Nifty is trading at 8,221 down 1.80 points. A total of 20 stocks registered a fresh 52-week high in trade today, while seven stocks touched a new 52-week low on the NSE.

The BSE Mid-cap Index is trading down 0.37% at 12452.83, whereas BSE Small-cap Index is trading down 0.02% at 12326.82.

Some buying activity is seen in pharma and FMCG, while Banking, Metal, Auto, Oil & Gas are showing weakness on BSE.

GAIL, Eicher Motors, ONGC, InfraTel, Lupin, Cipla, Reliance are among the gainers, whereas BPCL, Asian Paints, Tata Motors, ICICI Bank, PowerGrid are losing sheen on BSE.

The INDIA VIX is down 1.45% at 16.6050. Out of 1,877 stocks traded on the NSE, 840 declined, 691 advanced and 346 remained unchanged today.

Nifty settles above 8,200 mark

Out of 1,800 stocks traded on the NSE, 447 declined, 1,095 advanced and 338 remained unchanged today. The INDIA VIX is down 0.48% at 17.6225.

The Indian equity market extended gains for a fourth straight day tracking positive global market setup, with an advance in automakers offsetting losses in select metal stocks and also on continued buying by domestic institutional investors amid expectations of positive GDP data to be released later in the day.

At 2:05 PM, the S&P BSE Sensex is trading at 26,474 up 80 points, while NSE Nifty is trading at 8,190 up 48 points. Out of 1,800 stocks traded on the NSE, 447 declined, 1,095 advanced and 338 remained unchanged today.

A total of 20 stocks registered a fresh 52-week high in trade today, while eight stocks touched a new 52-week low on the NSE.

The BSE Mid-cap Index is trading up 0.50% at 12,429, whereas BSE Small-cap Index is trading up 1% at 12,295.

Ambuja Cement, Grasim, ACC, ICICI Bank, Adani Ports, Maruti are among the gainers, whereas Idea, Infratel, BPCL, Hindalco, ITC are losing sheen on NSE.

Buying activity is seen in Banking, Healthcare, Consumer Durables, Auto, Capital Goods sectors while Metal, Telecom, Oil & Gas, FMCG, Energy sectors are showing weakness on BSE.

The INDIA VIX is down 0.48% at 17.6225.

Idea Cellular fell 3%.  Axiata is looking to sell its 20% stake in Idea Cellular as the Malaysian company believes the Indian telecom provider's valuation will remain subdued for at least the next three years given the likelihood of a pricing onslaught stemming from the entry of Reliance Jio Infocomm, as per media report.

Tata Power gained 1.2%. Tata Power posted a consolidated net profit of Rs 336 crore for the quarter ended on September 30, 2016. It had posted a consolidated net loss of Rs 96 crore in the corresponding quarter last year.

Welspun Corp jumps 15.8% on the BSE. The company experienced a spurt in volumes by more than 13.51 times.

IDFC Bank  tanked 4% on the BSE. According to TV reports, 4.3 crore shares have changed hands in a single block deal.

GVK Power & Infrastructure slipped 1% after the company has posted a net loss of Rs 13 crore for the quarter ended September 30, 2016 as compared to net loss of Rs 8.1 crore for the quarter ended September 30, 2015.

National Fertilizer gained 1.5%. The company reported an 11% decline in net profit at Rs 46.5 crore for the quarter ended September 30. Its net profit had stood at Rs 52 crore in the year-ago period.

HCC advanced 1.2%. Hindustan Construction Company said its board would consider issuance of equity shares as well as optionally convertible debentures to lenders under the scheme for sustainable structuring of stressed assets.

Lupin is trading flat on the BSE. The pharma company has received approval from the US health regulator to market its Armodafinil tablets, indicated to improve wakefulness, in the American market.

Vivimed Labs zoomed 8.5% The company on Wednesday said the US health regulator has completed the inspection of its manufacturing facility in Alathur. The company's 'Finished Dosage Form' manufacturing facility has had a favourable outcome post its US Food and Drug Administration (USFDA) inspection.

Quess Corp slipped 1.7%.  Quess Corp is acquiring the facility management and catering businesses of Manipal Integrated Services. The purchase will help strengthen its market position in integrated facility management, the company said.

UCO Bank inched up 1%. The bank has raised Rs 270.59 crore by issuing over 7 crore shares to LIC on preferential basis. “Bank has issued and allotted 7,17,00,000 shares of Rs 10 each to LIC at an issue price of Rs 37.74 per share, including a premium of Rs 27.74 on preferential basis," it said in a regulatory filing.

Punj Lloyd gained 2%. The company will announce its Q2 numbers today. 

The Indian rupee opened lower by two paise at 68.67/$ against the previous close of 68.65/$.

Asian markets opened mixed as oil weakness saw exporters fall while importers saw rise in indices. Overnight the US indices rallied with the tech heavy Nasdaq hitting fresh 52 week highs as risk on trade returns with any fall being an opportunity to buy.

A boost in prices could resurrect not just energy stocks but many other asset classes. US GDP numbers came in at 3.2pc in the September quarter raising hopes of a rate hike next month.

In India, September quarter domestic GDP growth will be in focus; the impact of demonetisation will be known only next quarter. The fiscal deficit numbers and infrastructure output data are also on tap today. Fitch Ratings has cut the GDP growth forecast for FY17 to 6.9 pc from 7.4 pc, citing the demonetisation effect.

Sensex surges 259 points

The Sensex and Nifty ended higher for a fourth consecutive session as banks rallied after the central bank allowed lenders to include old 500 and 1,000 rupee notes as part of their cash balance, making it easier to meet cash
reserve ratio requirements.
But indexes still posted their biggest fall since February as the sentiment was dented by fears about the economic fallout from the country's demonetisation drive and on heavy foreign selling.

The BSE index rose 258.80 points or 0.98 per cent to 26,652.81, but was down 4.61 per cent this month.

The broader NSE index ended up 82.35 points or 1.01 per cent at 8,224.50, but fell 4.79 per cent for the month.

Among BSE sectoral indices, consumer durables index gained the most by 2.46 per cent, followed by banking 2.2 per cent, capital goods 1.57 per cent and infrastructure 1.19 per cent.

Top five Sensex gainers were ICICI Bank (+3.62%), Maruti (+3.39%), SBI (+2.15%), L&T (+2.07%) and HDFC Bank (+1.74%), while the major losers were Lupin (-0.91%), GAIL (-0.74%), Cipla (-0.45%), Reliance (-0.31%) and Coal India (-0.1%).

US GDP growth

The election of Donald Trump as the US President has sparked flows from emerging markets to the United States. Data on Tuesday showed the US economy grew faster than initially thought in the third quarter, notching its best performance in two years.

FII selling

Foreign investors have sold a net $2.46 billion in Indian shares so far this month, their biggest monthly sales since August 2015, according to data compiled by NewsRise Financial.

But worries about demonetisation are starting to subside. HSBC has cut its target for the BSE index to 30,500 from 32,400 by the end of 2017, but said it remained “overweight” on Indian stocks.

“We believe the cash situation will return to something approaching pre-demonetisation levels over the next four-six weeks,” HSBC said in a note.

“Once the cash crunch is over, we should see growth in financial inclusion, digital payments and banking liquidity as parts of the shadow economy move into the mainstream, boosting growth.”

A report by SMC Global said: "Asian stocks edged higher today reflecting upbeat US growth news, while oil steadied after a sharp drop as OPEC struggled to agree on a production cut. US stocks closed higher on Tuesday with the Nasdaq touching a record, but the market failed to make much headway as oil futures slumped ahead of a key meeting of major crude producers. US consumer confidence index surged to 107.1 in October from an upwardly revised 100.8 in October. Economists had been expecting the index to climb to 101.0 from the 98.6 originally reported for the previous month. With the bigger than expected increase, the consumer confidence index reached its highest level since hitting 111.9 in July of 2007."

India stocks higher at close of trade; Nifty 50 up 0.19%

Investing.com – India stocks were higher after the close on Tuesday, as gains in the Auto, Consumer Durables and Green Energy sectors led shares higher.
At the close in NSE, the Nifty 50 rose 0.19%, while the BSE Sensex 30 index climbed 0.17%.

The best performers of the session on the Nifty 50 were Eicher Motors Ltd. (NS:EICH), which rose 5.18% or 1046.25 points to trade at 21260.15 at the close. Meanwhile, Idea Cellular Ltd (NS:IDEA) added 4.88% or 3.70 points to end at 79.50 and Bosch Ltd (NS:BOSH) was up 4.50% or 872.45 points to 20280.00 in late trade.

The worst performers of the session were Hindalco Industries Ltd. (NS:HALC), which fell 1.74% or 3.10 points to trade at 175.55 at the close. AXIS Bank Ltd. (NS:AXBK) declined 1.52% or 7.20 points to end at 465.70 and Sun Pharmaceutical Industries Ltd. (NS:SUN) was down 1.25% or 8.95 points to 706.20.
The top performers on the BSE Sensex 30 were Maruti Suzuki India Ltd. (BO:MRTI) which rose 3.96% to 5090.85, Asian Paints Ltd. (BO:ASPN) which was up 2.17% to settle at 958.40 and Bharti Airtel Ltd (BO:BRTI) which gained 2.11% to close at 324.20.

The worst performers were AXIS Bank Ltd. (BO:AXBK) which was down 1.59% to 465.30 in late trade, Sun Pharmaceutical Industries Ltd. (BO:SUN) which lost 1.05% to settle at 706.30 and ITC Ltd (BO:ITC) which was down 0.99% to 231.20 at the close.

Rising stocks outnumbered declining ones on the India National Stock Exchange by 951 to 531 and 46 ended unchanged; on the Bombay Stock Exchange, 1545 rose and 1009 declined, while 192 ended unchanged.

The India Vix, which measures the implied volatility of Nifty 50 options, was down 1.92% to 17.7075.
Gold for December delivery was down 0.40% or 4.80 to $1186.00 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in January fell 1.87% or 0.88 to hit $46.20 a barrel, while the February Brent oil contract fell 1.85% or 0.91 to trade at $48.30 a barrel.
USD/INR was up 0.12% to 68.660, while EUR/INR fell 0.06% to 72.7470.
The US Dollar Index was up 0.19% at 101.40.

Footsie lower as commodity stocks

The Footsie remained weak at lunchtime, weighed by falls from heavyweight commodity stocks as oil prices fell on caution ahead of tomorrow’s key Opec meeting in Vienna, with banks also lower ahead of UK stress test results.
Around mid session, the FTSE 100 index was down 41.0 points, or 0.6 per cent at 6,758.4, just off the day’s low of 6,745.41, and well below an early peak of 6,800.91.
US stock index futures pointed to little change at the open today in New York as traders suggested that the post-presidential election rally could have run its course, with uncertainty ahead of the Opec meeting a depressant.

Oil prices were lower today, reversing some of yesterday’s afternoon rally as doubts remain that the producer cartel will be able to hammer out a meaningful output cut agreement, which is aimed at reining in a global supply overhang and propping up prices. Brent crude fell 1.3 per cent to $47.60 a barrel.
US investors will also have a raft of economic data to digest today, including another reading for US GDP growth, as well as speeches from a number of Federal Reserve officials.

asper Lawler, Market Analyst at CMC Markets, said: ‘Later on data is expected to show US GDP grew at 3.0 per cent y/y in Q3, up from 2.9 per cent in the prior reading.
‘The US economy has had a stop-start year, but the most recent Q3 data showed signs of an upswing. This next revision should provide confirmation, adding fuel to the belief that US rates could rise next year.’
European markets, however, managed to tick higher, with Germany’s Dax 30 index up 0.1 per cent, and France’s CAC 40 index ahead 0.6 per cent.
Meanwhile Italy’s MIB rallied 1.0per cent higher after sharp falls yesterday, thanks to some bargain hunting, as sentiment around next weekend’s crucial constitutional referendum in the country ebbed and flowed.

Jasper Lawler, Market Analyst at CMC Markets, said: ‘Later on data is expected to show US GDP grew at 3.0 per cent y/y in Q3, up from 2.9 per cent in the prior reading.
‘The US economy has had a stop-start year, but the most recent Q3 data showed signs of an upswing. This next revision should provide confirmation, adding fuel to the belief that US rates could rise next year.’
European markets, however, managed to tick higher, with Germany’s Dax 30 index up 0.1 per cent, and France’s CAC 40 index ahead 0.6 per cent.
Meanwhile Italy’s MIB rallied 1.0per cent higher after sharp falls yesterday, thanks to some bargain hunting, as sentiment around next weekend’s crucial constitutional referendum in the country ebbed and flowed.

On currency markets, the pound pushed higher at lunchtime, adding 0.6 per cent against the dollar at $1.2482, and also gaining 0.6 per cent versus the euro at €1.1776.
Today’s UK data proved fairly upbeat, with Bank of England lending numbers showing mortgage approvals and total levels of consumer credit rose more than expected in October.
Meanwhile a report released overnight showed that British consumer morale edged up this month, bolstered by a strong labour market, despite rising concern about household finances.
Among equities, falls by commodity stocks remained the main drag on the FTSE 100 as oil and metal prices retreated after a rally yesterday, with silver miner Fresnillo dropping 2.9 per cent, or 37p at 1,241p, and copper miner Antofagasta losing 2.9 per cent, or 21.0p to 707.5p, while energy giant BP shed 1.6 per cent, or 7.1p at 445.2p.
Banking stocks were also struggling again ahead of UK stress test results tomorrow and amid concerns over Italy's referendum vote on constitutional reforms which could precipitate a collapse in the Italian banking sector.

N iftyhit two-week closing high

Trading for the week closed on a buoyant note as key benchmark indices surged today, 25 November 2016, led by gains in IT and pharma stocks. The barometer index, the S&P BSE Sensex, jumped 456.17 points or 1.76% to settle at 26,316.34. The gains of the Nifty 50 index were higher than the Sensex's gains in percentage terms. The Nifty surged 148.80 points or 1.87% to settle at 8,114.30. The Sensex and the Nifty, both, hit their highest closing level in two-weeks. After opening higher, key indices continuously marched ahead as the day's trade progressed.

The Sensex closed above the psychological 26,000 mark after regaining that mark in early trade. The Nifty settled above the psychological 8,000 level after reclaiming that mark in early trade. Bargain hunting emerged after the recent heavy selling on the bourses triggered by worries that US president elect Donald Trump's likely fiscal expansionary policies could result in hike in interest rates there which could spark capital outflows from the emerging equity markets.

The Sensex jumped 456.17 points or 1.76% to settle at 26,316.34, its highest closing level since 11 November 2016. The index jumped 483.78 points or 1.87% at the day's high of 26,343.95. The index rose 14.28 points or 0.05% at the day's low of 25,874.45.

The Nifty surged 148.80 points or 1.87% to settle at 8,114.30, its highest closing level since 11 November 2016. The index surged 156.75 points or 1.96% at the day's high of 8,122.25. The index rose 11.25 points or 0.14% at the day's low of 7,976.75.

In overseas stock markets, European stocks were trading flat amid volatility. Asian stocks gained as the Thanksgiving break in the United States pegged the dollar's relentless surge that had sucked capital out of most emerging markets. US markets remained closed yesterday, 24 November 2016, on Thanksgiving holiday and trading will end early today, 25 November 2016 there.

Closer home, the broad market depicted strength. There were more than three gainers against every loser on BSE. 2,036 shares rose and 594 shares fell. A total of 164 shares were unchanged. The BSE Mid-Cap index rose 1.3%, underperforming the Sensex. The BSE Small-Cap index gained 1.74%, outperforming the Sensex.

IT stocks jumped after the recent weakness in rupee against the dollar. Tech Mahindra (up 5.48%), HCL Technologies (up 4.55%), Hexaware Technologies (up 6.88%), TCS (up 5.37%), and Infosys (up 4.62%) jumped. A weak rupee boosts revenue of IT firms in rupee terms as the sector derives a lion's share of revenue from exports.

Wipro gained 2.96% after the company announced that it completed the acquisition of Appirio on 23 November 2016. As mentioned in the media presentation submitted as part of results for Q2 September 2016, impact of the Appirio acquisition is expected to reflect in the financials of Wipro for Q3 December 2016, the company said. The announcement was made after market hours yesterday, 24 November 2016.

Shares of pharma companies rose following the recent sharp slide of the rupee against the dollar. Aurobindo Pharma (up 4.07%), Lupin (up 3.36%), Sun Pharmaceutical Industries (up 4.18%), Cipla (up 1.75%), Glenmark Pharmaceuticals (up 1.99%), Cadila Healthcare (up 2.18%), Piramal Enterprises (up 1.37%), Strides Shasun (up 0.63%), GlaxoSmithKline Pharmaceuticals (up 1.35%), Wockhardt (up 0.65%), and Divi's Laboratories (up 0.47%) gained. IPCA Laboratories (down 0.37%) and Alkem Laboratories (down 1.21%) edged lower. Weakness in rupee could boost sales of pharma companies in rupee terms as pharma firms derive substantial revenue from exports.

Dr Reddy's Laboratories gained 1.99% after the Central Government yesterday, 24 November 2016, based on the recommendations of Foreign Investment Promotion Board (FIPB) in its 241st meeting held on 27 October 2016, approved foreign direct investment (FDI) proposal of the company to acquire Imperial Credit, an Indian non banking financial company (NBFC) for Rs 36 crore.

Meanwhile, after witnessing selling pressure recently, rupee edged higher against the dollar today, 25 November 2016, after hitting a record low in the previous session. The partially convertible rupee was hovering at 68.45, compared with its close of 68.745 during the previous trading session.

Bank stocks also gained. Among public sector banks, UCO Bank (up 1.05%), Syndicate Bank (up 0.98%), Punjab National Bank (up 1.67%), Corporation Bank (up 0.77%), Allahabad Bank (up 2.25%), Bank of Baroda (up 0.36%), Canara Bank (up 1.55%), Bank of India (up 0.96%) and United Bank of India (up 2.18%) edged higher.

State Bank of India (SBI) declined 0.29% to Rs 260.95. The bank announced that the committee of directors for capital raising of the bank, in its meeting held on 24 November 2016, accorded its approval to fix the issue price at Rs 269.59 per share and accordingly, to issue 21.07 lakh equity shares, ranking pari-passu with the existing equity shares of the bank, in all respects, including payment of dividend, if any, on preferential basis to government of India, for a consideration of Rs 5680.99 crore subject to the approvals. The announcement was made before market hours today, 25 November 2016.

Among private sector banks, Axis Bank (up 0.72%), HDFC Bank (up 1.91%), ICICI Bank (up 0.08%), Kotak Mahindra Bank (up 0.86%), Federal Bank (up 4.05%), and IndusInd Bank (up 3.03%) edged higher.

Yes Bank gained 4.37% after the company announced that it has partnered with the Gujarat State Road Transport Corporation (GSRTC) to digitize payments of bus tickets for its customers. Under the partnership, Yes Bank will install over 125 PoS (point-of-sale) terminals to facilitate booking of tickets through credit and debit cards at all the GSRTC bus depots. Yes Bank is already live with 50 terminals as on date and will achieve a number of 125 in the next couple of weeks as part of the first phase of implementation. The announcement was made after market hours yesterday, 24 November 2016.

L&T rose 1.27%. L&T Hydrocarbon Engineering, a wholly owned subsidiary of L&T unveiled a high-tech spool base facilities at L&T's fabrication facility at Kattupalli, in Chennai today, 25 November 2016. These facilities are being employed to execute a prestigious Lump Sum Turn Key (LSTK) contract that has been bagged from ONGC for a subsea installation by a consortium of J. Ray Mc Dermott S.A., Berlian McDermott & L&T Hydrocarbon Engineering Ltd. in international competitive bidding.

The contract is part of ONGC's integrated development of Deep Water Vashishta & S1 Fields on India's east coast. It is their first project, involving three subsea wells in depths ranging from 400m to 700m involving a daisy chain field architecture with subsea tie back to onshore terminal at Odalaveru through a dual 14 pipeline. The announcement was made after market hours today, 25 November 2016.

J Kumar Infraprojects jumped 10% after the company said it bagged a contract from the Delhi Metro Rail Corporation. The announcement was made during trading hours today, 25 November 2016. J Kumar Infraprojects, on behalf of the J. Kumar Infra - CRTG JV, signed an agreement with the Delhi Metro Rail Corporation (DMRC) worth Rs 1344.93 crore on Thursday, 24 November 2016, for Phase-2 of the Mumbai metro project and other projects worth Rs 449.19 crore.

Steel Strips Wheels rose 0.63% after the company said that it bagged an export order for supplying Caravan Steel wheels for trailer market. The announcement was made during trading hours today, 25 November 2016. The company said the total order is for supplying approximately 20,000 wheels. Orders will be executed from SSWL's Chennai plant with shipments starting from December 2016. This is a repeat order from the export customer. The company has also bagged an order to supply wheels to BMW India. The total order size is 18,000 wheels and the order will start for mass supplies from March 2017 from the company's Chennai facility. This order marks strong competence of SSWL in both export and high end segments of the market. SSWL is expecting to receive additional orders for the Caravan wheels from other European Union (EU) customers in coming weeks.

The Sensex has fallen 1,613.87 points or 5.77% in November 2016 so far (till 25 November 2016). The Sensex has risen 198.80 points or 0.76% in calendar year 2016 so far (till 25 November 2016). From a 52-week low of 22,494.61 hit on 29 February 2016, the barometer index has risen 3,821.73 points or 16.98%. From a 52-week high of 29,077.28 hit on 8 September 2016, the barometer index has fallen 2,760.94 points or 9.49%. The Sensex is off 3,708.40 points or 12.35% from a record high of 30,024.74 hit on 4 March 2015.

Sensex surges over 450 points

The BSE Sensex which opened at 25,953.24 points, closed at 26,316, up 456 points or 1.76% from the previous close at 25,860.17 points.Closing Bell:

The BSE Sensex which opened at 25,953.24 points, closed at 26,316, up 456 points or 1.76% from the previous close at 25,860.17 points. The Sensex touched a high of 26,244 points and a low of 25,874.45 points during the intra-day trade so far.

The NSE Nifty closed with a gain of 142 points at 8,107. The NSE Nifty opened at 8,008 hitting a high of 8,122 and low of 7,977.

Live Market:

The Sensex, Nifty opened in the green on Friday morning. The domestic market is trading higher tracking positive trade in Asian markets even as investors weighed the prospect of a higher interest-rate environment in the U.S.

On the economy front, PM Narendra Modi pushed for the need to move towards a digital economy, saying that people have the right to use their money, but that can also be done digitally.

At 11:49 AM, the S&P BSE Sensex is trading at 26,121 up 268 points, while NSE Nifty is trading at 8,064 up 99 points.

The BSE Mid-cap Index is trading up 0.93% at 12,139, whereas BSE Small-cap Index is trading up 1.53% at 11,973.

Tata Steel, Infosys, GAIL, TCS, Wipro and Asian Paints are among the gainers, whereas Tata Motors, Cipla, NTPC, Bharti Airtel and Dr. Reddy's are losing sheen on BSE.

Some buying activity is seen in metal, IT, PSU Bank, media, pharma and Bank Nifty sectors, while auto sector is showing weakness on NSE.

The INDIA VIX is down 0.59% at 17.0575. Out of 1,874 stocks traded on the NSE, 269 declined, 1,213 advanced and 392 remained unchanged today.

A total of seven stocks registered a fresh 52-week high in trade today, while 59 stocks touched a new 52-week low on the NSE.

Amtek Auto Ltd is currently trading at Rs 37.35, up by Rs 2.55 or 7.33% from its previous closing of Rs 34.8 on the BSE. The scrip opened at Rs 35.05 and has touched a high and low of Rs 37.45 and Rs 34.55 respectively. So far 1311787 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 782.15 crore.

Sun Pharma rose 1%. The US drug regulator has found seven breaches of manufacturing standards at Sun Pharmaceutical Industries Ltd’s formulations plant in Mohali, Punjab, following a recent inspection.

SpiceJet rallied 4.4%. The company will announce its Q2 numbers today.

Jagran Prakashan gained 1.5%. The company said its subsidiary Music Broadcast will raise up to Rs 400 crore through initial public offer.

Vardhman Textiles advanced 1.3%. The board of the company has approved buyback proposal for up to Rs 720 crore.

Reliance Industries is trading marginally lower on the BSE. A flash fire broke out at Reliance Industries’ Ltd refinery complex at Moti Khavdi near Jamnagar on Thursday in which some contract workers were injured, the company said.

Wipro rose 2.2%. The company has informed bourses that it has granted 5,000 Restricted Stock Units under Restricted Stock Unit Plan 2007 effective November 1, 2016 to its identified employee.

Khaitan (India) jumped 4.7%. The company has infomed bourses that it has submitted an application for reference to the Board for Industrial and Financial Reconstruction (BIFR) as it has become a sick industrial company pursuant to the provisions of Sick Industrial Companies (Special Provisions) Act, 1985 (SICA).

Jindal Poly Films dropped 2.9%. The company reported a consolidated net profit of Rs 77 crore for the September quarter, lower than the Rs 99.9 crore in the year-ago period.

Talwalkars Better Value Fitness climbed 3.6% after the management has decided to demerge gym business, thereby transferring gym business of TBVFL to TLL, in the interest of maximising overall shareholder value.

TCS rallied 2.5%. Tata Consultancy Services is rethinking how it appraises its over 3,70,000 employees after scrapping the Bell Curve model.

Sterlite Technologies zoomed 3%.The company informed bourses that Crisil has upgraded the Long term credit rating to 'CRISIL AA-/Stable' from 'CRISIL A+/Watch Developing' and Short term credit rating have been upgraded to ‘CRISIL A1+’ from 'CRISIL A1 /Watch Developing’.

LT Foods gained 2.3%. The company has inked a 51:49 joint venture with Kameda Seika, to sell rice-based snacks in India.

Natco Pharma inched up 1% after the pharma company has received final approval from the US health regulator for generic version of Budesonide capsules used for treatment of active Crohn's disease for the American market.

YES Bank gained 2% To Rs 1,143. The bank announced a partnership with Gujarat State Road Transport Corporation (GSRTC) to digitise payment of bus tickets for its customers.  

DLF Ltd is currently trading at Rs 110.6, down by Rs 2.55 or 2.25% from its previous closing of Rs 113.15 on the BSE.

The Indian rupee opened marginally higher by one paise at 68.72/$ against the previous close of 68.73/$.

Asian markets opened in the green with commodities leading the charge as the yen hits 113 to the US$. The Japanese Nikkei stock index has entered a new bull market as exporters benefit from the falling yen. The Nikkei has risen from levels of sub 15000 on Brexit day to over 18000 today, which is further seeing flows unabated as investors chase higher returns in developed markets.

The demonetization drive is coming under severe criticism from the Opposition parties with former Prime Minister Manmohan Singh terming it as a ‘monumental failure’ in its implementation.

The Finance Minister shot back citing a litany of scams that had emerged during the previous government’s rule. One thing is for sure. The demonetization has sent most calculations awry – be it GDP growth, tax collections or the serpentine queues waiting for their money in cash form. The rupee continues to struggle breaching its Aug 2013 lows and is flirting near the 69 per dollar mark.

Foreign investors are net short 3,086 contracts in the index futures. The rollovers were better than anticipated at 61 pc but much lower than the three-month average of 75 pc. A strong earthquake rattled Central America raising concerns of tsunami waves. Oil prices moved higher ahead of next week’s crucial OPEC meet.

Sensex rallies over 150 points

The BSE Mid-cap Index is trading up 0.85% at 12,128, whereas BSE Small-cap Index is trading up 1.20% at 11,933. Some buying activity is seen in metal, IT, PSU Bank, media, pharma and Bank Nifty sectors, while auto sector is showing weakness on NSE.The Sensex, Nifty open in green on Friday morning. The domestic market is trading higher tracking positive trade in Asian markets even as investors weighed prospect of a higher interest-rate environment in the U.S.

On the economy front, PM Narendra Modi pushed for the need to move towards a digital economy, saying that people have the right to use their money, but that can also be done digitally.

At 10:02 AM, the S&P BSE Sensex is trading at 26,028 up 167 points, while NSE Nifty is trading at 8,032 up 67 points.

The BSE Mid-cap Index is trading up 0.85% at 12,128, whereas BSE Small-cap Index is trading up 1.20% at 11,933.

Tata Steel, Infosys, GAIL, TCS, Wipro and Asian Paints are among the gainers, whereas Tata Motors, Cipla, NTPC, Bharti Airtel and Dr. Reddy's are losing sheen on BSE.

Some buying activity is seen in metal, IT, PSU Bank, media, pharma and Bank Nifty sectors, while auto sector is showing weakness on NSE.

The INDIA VIX is down 0.59% at 17.0575. Out of 1,874 stocks traded on the NSE, 269 declined, 1,213 advanced and 392 remained unchanged today.

A total of seven stocks registered a fresh 52-week high in trade today, while 59 stocks touched a new 52-week low on the NSE.

The Indian rupee opened marginally higher by one paise at 68.72/$ against the previous close of 68.73/$.

Asian markets opened in the green with commodities leading the charge as the yen hits 113 to the US$. The Japanese Nikkei stock index has entered a new bull market as exporters benefit from the falling yen. The Nikkei has risen from levels of sub 15000 on Brexit day to over 18000 today, which is further seeing flows unabated as investors chase higher returns in developed markets.

The demonetization drive is coming under severe criticism from the Opposition parties with former Prime Minister Manmohan Singh terming it as a ‘monumental failure’ in its implementation.

The Finance Minister shot back citing a litany of scams that had emerged during the previous government’s rule. One thing is for sure. The demonetization has sent most calculations awry – be it GDP growth, tax collections or the serpentine queues waiting for their money in cash form. The rupee continues to struggle breaching its Aug 2013 lows and is flirting near the 69 per dollar mark.

Foreign investors are net short 3,086 contracts in the index futures. The rollovers were better than anticipated at 61 pc but much lower than the three-month average of 75 pc. A strong earthquake rattled Central America raising concerns of tsunami waves. Oil prices moved higher ahead of next week’s crucial OPEC meet.

AirAsia India saw its loss marginally narrow to Rs. 62.18crore in the latest quarter, from Rs. 63.14 crore in the year-ago period.New Delhi: Malaysia's AirAsia Berhad has pumped in additional funds worth Rs. 115 crore in AirAsia India, which reported a net loss of Rs. 62 crore in the latest September quarter. In AirAsia India, which started operations in June 2014, the Malaysian carrier holds 49 per cent stake while the remaining 51 per cent is with the Tatas. Announcing its earnings for the three months ended September 2016 to the Malaysian stock exchange today, AirAsia Berhad said it has increased investments in the Indian joint venture airline. "In the current quarter, AirAsia Berhad through its wholly-owned subsidiary AirAsia Investment Ltd subscribed to 1,14,905,000 shares of Rs. 10 each aggregating Rs. 1,149,050,000 equivalent to RM71.1 million. This has increased total investment in AirAsia India...," the Malaysian airline said in a filing.AirAsia India saw its loss marginally narrow to Rs. 62.18 crore in the latest quarter, from Rs. 63.14 crore in the year- ago period. However, revenues rose to 31 per cent Rs. 175.11 crore in the three months ended September. It stood at Rs. 132.95 crore in the same period a year ago. During the quarter under review, the number of people carried by AirAsia India rose 42 per cent with a unit passenger revenue of Rs. 2,976. Ancillary income per passenger was at Rs. 409 while the load factor was at 88 per cent for the local carrier, the filing said. "In India, the forecast load factor for the third quarter of 2016 is at 84 per cent. For the remaining quarter of 2016, AirAsia India will remain focused on building a footprint in the Indian domestic market with the introduction of new routes and frequency increases," the filing said. Earlier this month, AirAsia India CEO Amar Abrol had said the airline will continue to make investments and expand fleet size to 10 in the current financial year ending March 2017. AirAsia India came into focus recently after ousted Tata Group chairman Cyrus Mistry alleged fraudulent transactions of Rs. 22 crore at the carrier.

 AirAsia Invests Rs. 115 Crore More In AirAsia IndiAirAsia India saw its loss marginally narrow to Rs. 62.18crore in the latest quarter, from Rs. 63.14 crore in the year-ago period.New Delhi: Malaysia's AirAsia Berhad has pumped in additional funds worth Rs. 115 crore in AirAsia

India, which reported a net loss of Rs. 62 crore in the latest September quarter.

AirAsia India, which started operations in June 2014, the Malaysian carrier holds 49 per cent stake while the remaining 51 per cent is with the Tatas.

Announcing its earnings for the three months ended September 2016 to the Malaysian stock exchange today, AirAsia Berhad said it has increased investments in the Indian joint venture airline.  

"In the current quarter, AirAsia Berhad through its wholly-owned subsidiary AirAsia Investment Ltd subscribed to 1,14,905,000 shares of Rs. 10 each aggregating Rs. 1,149,050,000 equivalent to RM71.1 million. This has increased total investment in AirAsia India...," the Malaysian airline said in a filing.AirAsia India saw its loss marginally narrow to Rs. 62.18 crore in the latest quarter, from Rs. 63.14 crore in the year- ago period.

However, revenues rose to 31 per cent Rs. 175.11 crore in the three months ended September. It stood at Rs. 132.95 crore in the same period a year ago.

During the quarter under review, the number of people carried by AirAsia India rose 42 per cent with a unit passenger revenue of Rs. 2,976. Ancillary income per passenger was at Rs. 409 while the load factor was at 88 per cent for the local carrier, the filing said.

"In India, the forecast load factor for the third quarter of 2016 is at 84 per cent. For the remaining quarter of 2016, AirAsia India will remain focused on building a footprint in the Indian domestic market with the introduction of new routes and frequency increases," the filing said.

Earlier this month, AirAsia India CEO Amar Abrol had said the airline will continue to make investments and expand fleet size to 10 in the current financial year ending March 2017.

AirAsia India came into focus recently after ousted Tata Group chairman Cyrus Mistry alleged fraudulent transactions of Rs. 22 crore at the carrier.

Sensex snaps two-day winning spell, falls 192 points

Sensex closes lower by 191.64 points, or 0.74%, to 25,860.17, while the Nifty 50 of NSE falls 67.8 points, or 0.84%, to 7965.50Mumbai: Snapping its two-day rising trend, the Sensex slumped 192 points to finish below the 26,000-level due to profit-booking on the last day of November contracts and a fragile rupee, which hit record low against the dollar. The rupee plunged to a fresh life-time low of 68.86 (intra-day) against the greenback, surpassing its previous low of 68.85 tested on 28 August 2013.

It ended the day at 68.73, down 17 paise, amid reports of the RBI selling dollars to stem the slide. The Sensex resumed slightly lower at 26,049.14 and dropped further to 25,810.97 before ending at 25,860.17, showing a loss of 191.64 points or 0.74 %. The index had gained 286.67 points or 1.11% in the previous two days. The NSE 50-share Nifty too dropped by 67.80 points or 0.84% to close below the crucial 8,000-level to 7,965.50.

It had gained 104.20 points or 1.31% in two days. “Continued weakness in rupee against dollar, last hour of expiry square-off and the disruptions in Rajya Sabha debate over demonetisation dragged the market,” said Vinod Nair, head of research, Geojit BNP Paribas Financial Services.

Participants offloaded their long bets in futures and options (F&O) segment instead of carrying them forward to the next series for December. Foreign funds sold shares net Rs1,023.12 crore on Wednesday, as per provisional figures issued by the stock exchanges.

Investors fear that upbeat US economic data has strengthened the case for a rate hike in the US, sparking capital outflows from emerging markets. The US stock market will remain closed on Thursday on account of Thanksgiving holiday. Globally, Hong Kong’s Hang Seng fell 0.30%, while Japan’s Nikkei rose 0.94 %. Shanghai Composite Index gained 0.02 %. European shares too were trading mixed, with London’s FTSE falling 0.14 %, while Paris CAC-30 gaining 0.15% in early deals.

Frankfurt’s DAX was up 0.05%.

Sensex reclaims 26,000-mark

Global cues lift equities; Sensex reclaims 26,000-mark 

Mumbai, Nov 23 (IANS) Positive global cues, coupled with short covering and value buying, lifted the Indian equity markets for second consecutive session on Wednesday.

However, the key indices made only marginal gains as a stalemate on the contours of the Goods and Services Tax (GST) continued. Besides rupee depreciation, lower crude oil prices and outflow of foreign funds kept investors sentiment subdued.The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged up by 31 points or 0.39 per cent to 8,033.30 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 26,101.33 points, closed at 26,051.81 points — up 91.03 points or 0.35 per cent from the previous close at 25,960.78 points.The Sensex touched a high of 26,130.49 points and a low of 25,877.16 points during the intra-day trade.

The BSE market breadth was skewed in favour of the bulls — with 1,922 advances and 665 declines.

On Tuesday, the equity markets closed in the green for the first time after six straight sessions of losses on the back of attractive valuations, along with higher global crude oil prices and positive global indices.

The barometer index was up by 195.64 points or 0.76 per cent, whereas the NSE Nifty edged up by 73.20 points or 0.92 per cent.

“The equity markets ended in the green tracking positive global cues. On the global front, the Asian and the US markets were largely positive,” Astha Jain, Senior Research Analyst at Hem Securities, told IANS.

“Global crude oil prices lost their early gains in the second half of trade, after a positive opening.”

According to Dhruv Desai, Director and Chief Operating Officer of Tradebulls, lower level buying support during the second half of the session led to a positive close.

“IT stocks traded with volatile sentiments throughout the session, while banking, pharma, auto, oil-gas, textile and aviation stocks traded firm on buying support,” Desai said.

“Media-entertainment, FMCG, cement and power stocks also traded with firm sentiments on buying support. Healthy recovery from lower levels in second half of the session was seen in most of the sectors.”

Notwithstanding, the Indian rupee weakened by 31 paise to 68.57 against a US dollar from its previous close of 68.26 to a greenback

“The demonetisation move as well as the possible US rate-hike next month have led the dollar to gain, with the USD/INR touching its eight-month low during the day,” Jain said.We are expecting the USD/INR to touch the high of 68.70 in upcoming trading sessions.”

In terms of investments, provisional data with exchanges showed that the foreign institutional investors (FIIs) sold stocks worth Rs 1,023.12 crore, whereas the domestic institutional investors (DIIs) purchased scrips worth Rs 1,254.67 crore.

Sector-wise, the S&P healthcare index surged by 330.08 ponts, followed by the metal index, which rose by 232.24 points, and the capital goods index, which edged higher by 175.06 points.

On the other hand, the S&P BSE finance index fell by 0.78 points and the telecom index was down a tad by 0.07 points.

Major Sensex gainers on Wednesday were: Lupin, up 5.22 per cent at Rs 1,487; Asian Paints, up 3.87 per cent at Rs 942.50; Tata Steel, up 3.80 per cent at Rs 392.35; NTPC, up 2.63 per cent at Rs 158.25; and Larsen and Toubro (L&T), up 2.16 at Rs 1,357.85.

Major Sensex loserswere: Mahindra and Mahindra (M&M), down 2.02 per cent at Rs 1,193.25; HDFC, down 1.72 per cent at Rs 1,225.95; Bharti Airtel, down 1.22 per cent at Rs 300.35; Power Grid, down 1.22 per cent at Rs 181.85; and HDFC Bank, down 1.04 per cent at Rs 1,184.90.

Market extends gains

Market extends gains

Key benchmark indices settled with small gains, extending gains registered during previous trading session. The barometer index, the S&P BSE Sensex, rose 91.03 points or 0.35% to settle at 26,051.81. The Nifty 50 index rose 31 points or 0.39% to settle at 8,033.30. The Sensex settled above the psychological 26,000 mark after alternately moving above and below that mark in intraday trade. The Nifty closed above the psychological 8,000 level after falling below that mark in intraday trade.

Stocks of public sector banks witnessed a mixed trend. Stocks of private sector banks were mostly lower. Pharma stocks gained on weak rupee. Metal & mining stocks gained for the second day in a row. L&T edged higher after the company reported strong Q2 September 2016 results.

The Sensex rose 91.03 points or 0.35% to settle at 26,051.81, its highest closing level since 18 November 2016. The index rose 169.71 points or 0.65% at the day's high of 26,130.49. The index lost 83.62 points or 0.32% at the day's low of 25,877.16.

The Nifty rose 31 points or 0.39% to settle at 8,033.30, its highest closing level since 18 November 2016. The index rose 52.90 points or 0.66% at the day's high of 8,055.20. The index lost 29.20 points or 0.36% at the day's low of 7,973.10.

The BSE Mid-Cap index rose 1.22%. The BSE Small-Cap index gained 1.54%. Both these indices outperformed the Sensex.

The broad market depicted strength. There were more than two gainers against every loser on BSE. 1,922 shares rose and 665 shares fell. A total of 165 shares were unchanged.

The total turnover on BSE amounted to Rs 2497.52 crore, higher than turnover of Rs 2306.61 crore registered during the previous trading session.

Among the sectoral indices on the BSE, the BSE Healthcare index (up 2.19%), the BSE Capital Goods index (up 1.3%), the BSE Metal index (up 2.32%) and the BSE Realty index (up 3.41%) outperformed the Sensex. The BSE Telecom index (down 0.01%) and the BSE Bankex index (up 0.05%) underperformed the Sensex.

Stocks of public sector banks witnessed a mixed trend. IDBI Bank (up 0.89%), State Bank of India (up 0.52%) and Punjab National Bank (up 0.07%) rose. Union Bank of India (down 0.83%), Bank of Baroda (down 0.49%) and Bank of India (down 0.26%) edged lower.

Stocks of private sector banks were mostly lower. HDFC Bank (down 1.04%), RBL Bank (down 0.96%), Kotak Mahindra Bank (down 0.64%), Yes Bank (down 0.53%) and IndusInd Bank (down 0.63%) declined. Axis Bank (up 1.94%) and ICICI Bank (up 0.63%) gained.

Pharma stocks gained on weak rupee. Ipca Laboratories (up 2.85%), Alkem Laboratories (up 1.57%), Glenmark Pharmaceuticals (up 1.49%), GlaxoSmithkline Pharmaceuticals (up 1.04%), Dr Reddy's Laboratories (up 0.43%) and Divi's Laboratories (up 0.05%) edged higher. Weakness in rupee could boost sales of pharma companies in rupee terms as pharma firms derive substantial revenue from exports.

In the foreign exchange market, the partially convertible rupee was hovering at 68.495, compared with its close of 68.25 during the previous trading session.

Sun Pharmaceutical Industries (Sun Pharma) rose 1.64% after the company announced the execution of definitive agreements by its wholly owned subsidiary, for the acquisition of 85.1% of JSC Biosintez, a Russian pharmaceutical company engaged in manufacture and marketing of pharmaceutical products in Russia and CIS region. The announcement was made before trading hours today, 23 November 2016. The equity consideration for the 85.1% stake is $24 million. Sun Pharma would also assume a debt of approximately $36 million as part of this transaction. Biosintez is a Russian pharmaceutical company focusing on the hospital segment with annual revenues of approximately $52 million for 2015. It has a manufacturing facility in Penza region with capabilities to manufacture a wide variety of dosage forms including pharmaceuticals for injections, blood substitutes, blood preservatives, ampoules, tablets, ointment, creams, gels, suppositories, APIs, etc.

The transaction, expected to be completed by end of 2016, is subject to approval of the Russian Federal AntiMonopoly Service and other closing conditions. As per IMS (MAT September 2016), the Russian pharmaceutical market recorded sales of approximately $10 billion. The market recorded a growth of 7.4% in local currency terms as per IMS.

In a separate announcement after market hours yesterday, 22 November 2016, Sun Pharma said it received a letter from the Chief Financial Officer (CFO), Uday Baldota that he would be tendering his resignation as the CFO of Sun Pharmaceutical Industries to be effective with effect from in and around April 2017 due to his shifting to United States of America in and around April 2017 to look after the business of Taro Pharmaceutical Industries, a subsidiary of Sun Pharmaceutical Industries as its Chief Executive Officer.

Lupin gained 5.22% after the company announced that it has received tentative approval for its Abacavir Sulfate and Lamivudine Tablets, 600 mg/300 mg from the United States Food and Drug Administration (FDA) to market a generic version of ViiV Healthcare Company's Epzicom Tablets, 600 mg/300 mg. Lupin's Abacavir Sulfate and Lamivudine Tablets, 600 mg/300 mg are the AB rated generic equivalent of ViiV Healthcare Company's Epzicom Tablets, 600 mg/300 mg. Abacavir Sulfate and Lamivudine Tablets, 600 mg/300 mg in combination with other antiretroviral agents is indicated for the treatment of human immunodeficiency virus type 1 (HIV-1) infection. Epzicom Tablets had US sales of $426 million as per IMS MAT September 2016 data. The announcement was made during market hours today, 23 November 2016.

Aurobindo Pharma rose 1.73% after the company with respect to news reports suggesting that Vietnam Government blacklisted Aurobindo Pharma on quality issues, clarified during market hours today, 23 November 2016 that it has not been blacklisted and continues to export to Vietnam. Vietnam regulatory authority has introduced an additional step of analysis on importing medicines in Vietnam before release of batches and the total sales estimated is around $1million per annum and it is immaterial, company added. The company is appropriately responding and the event has no perceived impact on the operations and exports.

Cipla was up 0.45% after the company said that Chase Pharmaceuticals Corporation, a Delaware based corporation (Chase), in which Cipla's UK arm, Cipla UK has 16.7% stake, has been acquired by a subsidiary of Allergan, plc. The announcement was made during market hours today, 23 November 2016. Allergan has agreed to pay $125 million upfront plus potential regulatory and commercial milestones of up to $875 million to the shareholders of Chase. Cipla UK acquired a minority stake in Chase in May 2014 via a syndicated venture investment.

Wockhardt fell 2% after the company announced that US Food and Drug Administration has issued a warning letter to its stepdown subsidiary, C P Pharmaceuticals, Wrexham, United Kingdom. The announcement was made during market hours today, 23 November 2016. Wockhardt said that currently, there is no business being conducted from C P Pharmaceuticals to the US market. C P Pharmaceuticals has already initiated required steps to address the concerns raised by US Food and Drug Administration (USFDA) and will be responding to the agency within the prescribed time, Wockhardt said.

Metal & mining stocks gained for the second day in a row. JSW Steel (up 0.73%), Hindustan Copper (up 0.72%), Hindalco Industries (up 4.11%), Hindustan Zinc (up 2.24%), Tata Steel (up 3.8%), Steel Authority of India (Sail) (up 1.67%), NMDC (up 1.01%) and Jindal Steel & Power (up 0.3%) gained. National Aluminum Company was flat.

Vedanta rose 5.03%, with the stock extending yesterday's 4.90% rise triggered by the company's board approving to raise Rs 300 crore through issue of non-convertible debentures. The announcement was made during market hours yesterday, 22 November 2016. Vedanta announced that it has received board's approval to raise Rs 300 crore through issue of 3,000 secured redeemable non-cumulative non-convertible debentures (NCDs) of face value of Rs 10 lakh each. The tenure of the NCDs is three years and five months from the date of allotment, while date of maturity is 22 April 2020.

Engineering and construction major L&T rose 2.16% after consolidated net profit jumped 84.31% to Rs 1434.63 crore on 8.73% growth in total income to Rs 25491.96 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 22 November 2016.

The company's consolidated profit after tax (PAT) before exceptional items rose 41% to Rs 1032 crore in Q2 September 2016 over Q2 September 2015. As a part of implementation of its strategic plan, the company has divested the General Insurance business. Gross revenue on consolidated basis rose 8.2% to Rs 25011 crore in Q2 September 2016 over Q2 September 2015. Consolidated order inflow increased by 11% year on year (YoY) to Rs 31119 crore in Q2 September 2016. International orders constituted 24% of the total order inflow. Consolidated order book stood at Rs 251773 crore as on 30 September 2016, higher by 4% on YoY basis. International order book constituted 29% of the total order book.
On the business outlook, L&T said, it has integrated range of comprehensive offerings in its various operating segments and is implementing its strategic plan of profitable growth and higher return on equity. On the international front, the company continues to strengthen its position and pursue select prospects in the core infrastructure and energy sector. L&T said it is well placed to benefit from the emerging opportunities and sustain its leadership position across the sectors.

Bharat Heavy Electricals (Bhel) rose 0.44% after the company announced that it commissioned 93 megawatts (MW) steam turbine based captive power plant (CPP) at Hazira in Gujarat for Reliance Industries (RIL). The announcement was made during market hours today, 23 November 2016. This is the second unit of 4X93 MW steam turbine based CPP, being set up by Bhel for RIL at Hazira. For RIL, the company is also setting up a 3X93 MW steam turbine based CPP at Dahej in Gujarat. The CPPs are set up to meet the power requirements of RIL's refinery projects at Hazira and Dahej. Bhel has so far commissioned two units each at Hazira and Dahej projects. The remaining three units are also planned for commissioning during the current financial year.

Bharti Airtel fell 1.22%. The company announced that Airtel Payments Bank, a subsidiary of Bharti Airtel rolled out a pilot of its banking services in Rajasthan. The pilot is aimed at testing systems and processes ahead of a full scale pan Indian launch. With this, Airtel Bank becomes the first payments bank in the country to go LIVE. Customers in towns and villages across Rajasthan will now be able to open bank accounts at Airtel retail outlets, which will also act as Airtel banking points and offer a range of basic, convenient banking services. Airtel Bank will commence the pilot with banking points at 10,000 Airtel retail outlets. The announcement was made during market hours today, 23 November 2016.

Separately, the company announced that it has successfully completed the acquisition of rights to use 20 MHz of spectrum in 2300 Band (BWA) from Aircel, for Andhra Pradesh circle following the receipt of all necessary approvals and satisfying all the conditions (including conditions stated in the Spectrum Trading Guidelines). With this, Bharti Airtel has completed the transaction in all 8 telecom circles. The announcement was made after market hours yesterday, 22 November 2016.

The Sensex has risen 286.67 points or 1.11% in two trading sessions from its close of 25,765.14 on 21 November 2016. The Sensex has fallen 1,878.40 points or 6.72% in November 2016 so far (till 23 November 2016). The Sensex has fallen 65.73 points or 0.25% in calendar year 2016 so far (till 23 November 2016). From a 52-week low of 22,494.61 hit on 29 February 2016, the barometer index has risen 3,557.20 points or 15.81%. From a 52-week high of 29,077.28 hit on 8 September 2016, the barometer index has fallen 3,025.47 points or 10.4%. The Sensex is off 3,972.93 points or 13.23% from a record high of 30,024.74 hit on 4 March 2015.

In overseas stock markets, European stocks witnessed a mixed trend. Euro zone business expanded at the fastest rate this year in November, thanks to strong activity at manufacturers and a spike in new orders, even as firms generally held prices steady, a survey showed today, 23 November 2016. IHS Markit's euro zone flash composite Purchasing Managers' Index, seen as a good overall growth indicator, jumped to 54.1 from October's 53.3, the highest reading this year and just shy of last December's 54.3. It was far above the 50 point line indicating growth in activity.

Asian stocks edged higher in the wake of recent rally on the Wall Street. Japanese stock markets were closed for a holiday. Latest data showed that Chinese business confidence improved in November. The MNI Deutsche Borse Group business sentiment indicator rose 1.7% to 53.1 in November, after falling 6.5% in October. In mainland China, the Shanghai Composite ended 0.22% lower. In Hong Kong, the Hang Seng settled 0.01% lower.

US stocks closed at record highs yesterday, 22 November 2016, extending recent gains. The Dow Jones Industrials Average and S&P 500 cleared psychological milestones with Dow closing above the 19,000 level for the first time while major indexes simultaneously reached record highs. US markets have been in a strong uptrend since the presidential election two weeks ago. Donald Trump's unexpected victory was viewed as a positive for Wall Street, because the president-elect is expected to advocate for policiesincluding massive corporate tax cuts and financial and environmental deregulationseen as supportive for economic growth.

Sensex surges over 100 points, Nifty50 holds above 8,000

Equity markets from the US to Asia are buoyant, but analysts are not very optimistic about the domestic market. An acute cash crunch in the economy, a Fitch report assigning negative outlook to the banking sector and poor F&O rollovers do not bode well for the market. Keep an eye on this space as we bring you continuous updates on what’s going on through the day in this LIVE BLOG from Dalal Street.L&T SURGES ON STRONG Q2 RESULTS

Shares of Larsen & Toubro jumped over 4 per cent in Wednesday’s trade after the engineering major reported 84 per cent jump in September quarter profit, partly on account of Rs 400-crore odd exceptional gains. Brokerages have largely maintained their ‘buy’ view, yet many of them have cut target price for the stock.

STOCK TO WATCH: A2Z INFRA
A2Z Infra Engineering informed bourses that its subsidiary company A2Z Green Waste Management has, on November 19, agreed to a framework with one of its lenders for a settlement of its various debt
obligation aggregating to Rs 416.18 crore.

STOCK TO WATCH: ULTRATECH CEMENT
The company on Tuesday said the Competition Appellate Tribunal (COMPAT) has granted a stay on an order passed by the fair trade regulator Competition Commission of India (CCI) against the company on deposit of 10 per cent of the penalty amount.

STOCK TO WATCH: EIH
The company that runs hotels and resorts under Oberoi and Trident brands said it plans to delist its global depository receipts from the London Stock Exchange in February 2017.

STOCK IN FOCUS: L&T
Larsen & Toubro on Tuesday reported a 84 per cent jump in its consolidated net profit to Rs 1,435 crore for the quarter ended September 30 as compared to Rs 778 crore in the same period last year.

PRE-OPEN SESSION
Sensex reclaims 26,000, Nifty50 above 8,050; L&T rallies 2%.

NIFTY TECH CHARTS
The Nifty50 formed Bullish Harami pattern on the technical charts on Tuesday. A bullish Harami pattern often indicates that the bearish trend may reverse and it may be good time to go for long positions. However, analysts still suggest caution. For the bulls to regain control, it is important for the Nifty50 to hold above the 8,000 level.

STOCK TO WATCH: RIL
CAG has pulled up the Income Tax department for giving benefit of Rs 1,767 crore to the port and terminal arm of Reliance Industries by allowing deductions meant for public facilities to the company's captive jetties

rises 196 points, Nifty ends above 8,000

Sensex off 6-month low, rises 196 points, Nifty ends above 8,000

The Sensex opened higher at 25,928.16 and hovered in a range of 26,039.70 and 25,765.51 before ending at 25,960.78, showing a gain of 195.64 points or 0.76 per cent.

Sensex snapped its six-day losing streak by rebounding 196 points on Tuesday on fresh buying in metal, realty, auto and energy counters and short covering ahead of November-series expiry amid improving global cues. In the process, the index has come off its six-month low hit on Monday. US stocks closed at fresh record highs overnight, aided by a jump in oil prices and a pullback in the dollar. Covering-up of pending short positions by participants ahead of Thursday’s November expiry in the derivatives segment too supported the recovery.Government’s nod to relax demonetisation norms for farmers so as to save rabi crop brought in some positivity to the battered market, forcing bears to loosen the grip and sparking short covering,” said Anand James, Chief Market Strategist, Geojit BNP Paribas Financial Services. However, caution prevailed amid growing concerns that the government’s demonetisation move would hit the economy more than expected and the rupee losing strength against the dollar to close at near a six-month low of 68.25.
The Sensex opened higher at 25,928.16 and hovered in a range of 26,039.70 and 25,765.51 before ending at 25,960.78, showing a gain of 195.64 points or 0.76 per cent. The index had dropped by 1,752.54 or 6.37 per cent in previous six sessions to reach six-month lows. The NSE 50-share Nifty also recovered by 73.20 points or 0.92 per cent to end above the 8,000-level at 8,002.30.
However, foreign sellers continued their selling spree. Foreign portfolio investors (FPIs) sold shares worth a net Rs 1,310.82 crore yesterday, as per provisional data released by the stock exchanges. Overseas, Asian markets gained in the wake of solid gains in US stocks, while the Japanese yen briefly strengthened after a powerful earthquake which rocked northern Japan appeared to have been taken in stride by investors.
Key indices in China, Hong Kong, Japan, Singapore, South Korea and Taiwan ended higher by 0.20 per cent to 1.3 per cent. European markets were also trading higher in their afternoon trade as key indices in France, Germany and the UK moved up by 0.52 per cent to 0.83 per cent. With OPEC’s twice-yearly gathering set for November 30, global benchmark Brent crude rose 30 cents to trade at one-month high of USD 49.20 a barrel amid hopes of an upcoming production-cut deal.
Back home, broader markets too displayed a positive trend, with the BSE Mid-cap index rising 1.39 per cent, while small-cap gained 1.16 per cent as investors widened their portfolios. A total of 23 stocks in the 30-share Sensex pack ended higher, while the remaining 7 closed lower. Major gainers were Maruti (2.97 per cent), Bajaj Auto (2.89 per cent), HUL (2.54 per cent), Hero MotoCorp (2.35 per cent), Adani Ports (2.10 per cent), Wipro (1.87 per cent), HDFC (1.82 per cent), Tata Motors (1.75 per cent), Tata Steel (1.74 per cent), Bharti Airtel (1.52 per cent), M&M (1.50 per cent), Axis Bank (1.17 per cent), Lupin (1.09 per cent) and Reliance (1.03 per cent).
However, Larsen fell by 1.41 per cent, Gail India 1.33 per cent, NTPC 0.87 per cent, Power Grid 0.51 per cent and Dr Reddy’s 0.45 per cent. Among the sectoral indices, metal rose by 2.74 per cent, followed by realty (2.53 per cent), auto (1.89 per cent), energy (1.29 per cent), finance (1.10 per cent) and oil&gas (1.10 per cent).
The market breadth turned positive as 1,457 stocks ended higher, 1,099 finished in red while 190 ruled steady. The total turnover on BSE fell to Rs 2,306.61 crore from Rs 2,548.58 crore yesterday.

Sensex jumps over 200 points

Live Stock Market Updates - Sensex jumps over 200 points; Nifty above 8,000 mark

The INDIA VIX is down 4.51% at 18.2350. Out of 1,883 stocks traded on the NSE, 667 declined, 927 advanced and 289 remained unchanged.Nifty and Sensex are still volatile. The only postive is that it still in green zone. 

Domestic market pared some of early gains with the Sensex falling below 26,000 level, while the broader Nify50 also slipping below its crucial 8,000 mark.

Supported by positive global markets, the Sensex rallied over 200 points in morning trade led by gains in ICICI Bank, Infosys, Tata Motors, ONGC, and Maruti Suzuki. Nifty reclaimed its crucial level of 7,950 and was trading near its crucial resistance level of 8,000 supported by gains in realty, power, oil & gas, metal, auto, and banking stocks.

At 2:58 PM, the S&P BSE Sensex is trading at 25,984 up 35219 points, while NSE Nifty is trading at 8,003 up 74 points.

Bajaj Auto, Maruti, HUL, Adani Ports and Cipla are among the top gainers, PowerGrid, NTPC, SBI and L&T are losing sheen on BSE.

Auto, Metal, Oil & Gas and Information Technology sectors are indicating buying activities, while Capital Goods, Power and Bank are showing weakness on BSE.

The BSE Mid-cap Index is trading up 0.17% at 11754, whereas BSE Small-cap Index is trading down 0.06% at 11494.

The INDIA VIX is down 4.51% at 18.2350. Out of 1,883 stocks traded on the NSE, 667 declined, 927 advanced and 289 remained unchanged during the mid-market hours.

A total of 5 stocks registered a fresh 52-week high in trade today, while 63 stocks touched a new 52-week low on the NSE.

Hindalco Industries Ltd is currently trading at Rs 163.7, up by Rs 6.3 or 4% from its previous closing of Rs 157.4 on the BSE.

Suven Life Sciences is trading in green on the BSE. The pharma company announced today that it has granted one product patent from China and one product patent from Mexico corresponding to the New Chemical Entities for the treatment of disorders associated with Neurodegenerative diseases and these Patents are valid through 2032 and 2031 respectively.

Bliss GVS Healthcare jumped 3.4% after the company said it won a three year contract worth USD 111.40 million for provision of Medical Healthcare Services in Kenya.

Tata Communications gained 2% after the company entered into partnership with and Emirates Data Clearing House. This partnership will enable Tata Communications to provide a more robust portfolio of solutions as an integrated mobility service provider with its existing range of innovative solutions. 

ONGC advanced 0.4% to Rs 276 after international crude oil prices gained on the comments by Russian President Vladimir Putin that raised expectations that the major oil producing countries could reach a deal to limit output at a meeting next week.

Panacea Biotec  gained 1.4% after the pharma company announce receipt of Establishment Inspection Report (EIR) from the USFDA indicating the formal closure of the cGMP and Pre­ Approval Inspection conducted by USFDA, at its Oncology Parenteral and Oral Solids Dosage formulation facilities at Malpur, Baddi in Himachal Pradesh.

Asian Oilfield Services rallied 3% to Rs 74 after the company said it got order worth Rs140 crore from Oil India Ltd. 

IRB Infrastructure Developers inched up 1% to Rs 190 ahead of its September quarter earnings. 

Axis Bank slipped 1%. The bank said it proposes to raise funds by issuing unsecured redeemable non-convertible subordinated debentures (Basel- III compliant Tier II debentures) (Series - 25) of the face value of Rs 10 lakh each for cash at par aggregating to Rs 1,800 crore. 

L&T dropped 2%. The company will announce its Q2 numbers today. The construction arm of L&T has won orders worth Rs 1,926 crore across its various business segments.

Sobha fell 3.2% to Rs 230. Sobha posted its consolidated net profit at Rs 38 crore for the September quarter of the current fiscal. Its net profit had stood at Rs 39 crore in the same period of last financial year.

Arvind slipped 1%. Textiles and branded apparel major Arvind Ltd has raised Rs 740 crore by diluting stake in subsidiary Arvind Fashions Ltd. The company has completed the transaction and raised the amount from Multiples, a private equity firm.

Dhampure Speciality Sugars dipped 2%. The company reported a net profit of Rs 12 lakh against net profit of Rs 10 lakh in the corresponding quarter last year.

Reliance Infrastructure tanked 2.7%. RInfra has won an EPC order for Rs 36.75 bn from NLC India Limited for setting up two lignite based CFBC thermal power projects with a capacity of 250MW each.

Allcargo Logistics is trading in red on the BSE. The company will announce its Q2 numbers today. The Indian rupee opened marginally higher by three paise at 68.13/$ against the previous close of 68.16/$.

Asian markets excluding Japan all traded in the green as an earthquake in Japan & threats of a Tsunami break out kept the Japanese index flat to marginally negative. This after oil hit a new 4 week high along with the Dow Jones, Nasdaq & the S&P index rising in tandem. The risk on trade is back in action as globally bullishness resurfaces with Japan & the US indices in new bull markets.

Outdoor livig direct

How to Choose the Right Outdoor Furniture for Your Home

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