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."

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 down 81 points

Yellen's comments, demonetisation pull Swn 81 poiensex donts

MUMBAI, NOV 18:  
The Sensex and Nifty were trading marginally down as US Federal Reserve Chair Janet Yellen has signalled an interest rate hike is imminent.
Sentiment at home was also hit by the government's move last week to remove high-value notes, disrupting daily lives of millions of Indians who live in a cash economy that is estimated to account for a fifth of the country's $2 trillion gross domestic product.

“There is a major liquidity issue in the domestic market due to the banknotes action and the volatility in the rupee because of rising US bond yields will likely continue for some time," said Vinod Nair, head of research at Geojit BNP Paribas Financial Securities.

“The 8,000 level for Nifty is very important, but the risk of it falling below that mark will be there as the market will continue to remain cautious for a while amid domestic and global uncertainties.”

At 3.15 pm, the 30-share BSE index Sensex was down 80.65 points or 0.31 per cent at 26,146.97 and the 50-share NSE index Nifty was down 7.05 points or 0.09 per cent at 8,072.90.

Among BSE sectoral indices, oil & gas index gained the most by 1.4 per cent, power 1.23 per cent, healthcare 1.19 per cent and realty 1.08 per cent, while consumer durables index was down 1.26 per cent, metal 1.24 per cent, FMCG 1.13 per cent and banking 0.67 per cent.

Top five Sensex gainers were NTPC (+4.81%), Sun Pharma (+2.67%), Bharti Airtel (+2.13%), Hero MotoCorp (+1.98%) and Bajaj Auto (+1.36%), while the major losers were Tata Steel (-2.09%), ITC (-2.04%), GAIL (-1.54%), Asian Paints (-1.36%) and HDFC Bank (-1.34%).

Rupee slumps

The rupee fell as low as 68.15 per dollar, its weakest since June 24, compared with the previous close of 67.82.
The fall came with the dollar vaulting to a 13-1/2-year high against a basket of major currencies as US bond yields rose after Yellen said the central bank could raise interest rates “relatively soon''.

The Nifty IT index was in positive territory after three straight sessions of falls with HCL Technologies up 1.8 per cent.

A local IT sector lobby group cut its growth forecast for 2016-2017, citing local and global factors.

All the stocks of the Nifty pharma index rose with Sun Pharmaceutical Industries 2.6 per cent higher and Aurobindo Pharma up 2.3 per cent.

Meanwhile, the NSE Bank index was 0.32 per cent lower with ICICI Bank declining as much as 1.1 per cent and State Bank of India shedding up to 0.67 per cent.

Asian share markets weakened on Friday as rising US bond yields carried the dollar to a more than 13-1/2 year high against a basket of major currencies, fuelled by expectations that President-elect Donald Trump’s policies will lead to higher interest rates.

The post-election shift in expectations has left Asian stocks vulnerable to investors potentially rotating funds out of emerging markets to the United States.

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Sensex ends 71 points lower

Live Stock Market Updates - Sensex ends 71 points lower

The BSE Sensex ended with a loss of mere 71 points at 26,228. The BSE Sensex opened at 26,305, touched an intra-day high of 26,450 and low of 26,155.
Closing Bell:

Finally, the BSE Sensex ended with a loss of mere 71 points at 26,228. The BSE Sensex opened at 26,305, touched an intra-day high of 26,450 and low of 26,155.

The NSE Nifty closed with a loss of 32 points at 8,080. The NSE Nifty opened at 8,105 hitting a high of 8,151 and low of 8,060.
Live Market:

The domestic market fluctuated between gains and losses tracking weak trade in Asian markets as investors await testimony from Federal Reserve Chair Janet Yellen that will help shape U.S. interest-rate expectations.

At 12:30 PM, the S&P BSE Sensex is trading at 26,341 up 40 points, while NSE Nifty is trading at 8,121 up 10 points.

The BSE Mid-cap Index is trading up 0.17% at 12,064, whereas BSE Small-cap Index is trading down 0.07% at 11,899.

Axis Bank, Tata Motors, Lupin, SBI, Bharti Airtel and ICICI Bank are among the gainers, whereas Wipro, Dr Reddy's, Sun Pharmaceuticals, Power Grid and Coal India are losing sheen on BSE.

Some buying activity is seen in banking, auto financial services, FMCG and realty sectors, while media and IT sectors are showing weakness on NSE.

The INDIA VIX is down 6.70% at 18.1950. Out of 1,853 stocks traded on the NSE, 524 declined, 927 advanced and 402 remained unchanged today.

A total of three stocks registered a fresh 52-week high in trade today, while 16 stocks touched a new 52-week low on the NSE.

Lupin Ltd is currently trading at Rs 1429.9, up by Rs 22.35 or 1.59% from its previous closing of Rs 1407.55 on the BSE. The company announced that its US subsidiary, Gavis Pharmaceuticals LLC., U.S.A. (collectively Lupin) has received final approval for its Hydrocodone Bitartrate and Acetaminophen Tablets USP, 5 mg/300 mg, 7.5 mg/300 mg and 10 mg/300 mg from the USFDA to market a generic equivalent of Mikart, Inc's Hydrocodone Bitartrate and Acetaminophen Tablets  USP, 5 mg/300 mg, 7.5 mg/300 mg and 10 mg/300 mg.

IT stocks dropped 1.1% on the NSE after Nasscom said on Wednesday that India’s software services industry will grow at a slower pace than estimated earlier. Nasscom now expects the IT exports to grow between 8% to 10% in the current fiscal, slower than the earlier projection of 10 to 12%. TCS tanked 2%, HCL Tech and Wipro is trading down 1.4% each, while Infosys slipped 1%.

Bharti Airtel dropped 3.7%.  Bharti Airtel announced completion of the merger of its subsidiary Bangladesh telecom unit with Robi Axiata Limited.

Greenply Industries jumped 6.6%. The company informed on BSE that MSCI has announced the changes to constituents for the MSCI Global Small Cap Indexes and as part of change. Change in constituents for the MSCI Global Small Cap indices will take place as of the close of November 30, 2016.

Indraprastha Gas rose 2.2%. The company also posted a net profit of Rs 144 crore for the quarter ended September 30, 2016 as compared to Rs 102 crore for the quarter ended September 30, 2015.

Petronet LNG fell 1.4%. The company will announce its Q2 numbers today.

Voltas fell 7.7%. The company reported 7% increase in consolidated net profit at Rs 72 crore for the quarter ended on September 30, 2016. It had posted a net profit of Rs 67 crore in the July-September quarter a year ago.

Shipping Corporation of India tanked 7.8% after the company posted standalone net loss of Rs 20 crore for the second quarter ended September 30, 2016-17. The company had posted standalone net profit of Rs 162 crore in the July-September quarter of the 2015-16 fiscal.

Engineers India soared 2.2% to Rs 265. Engineers India reported a 21% jump in net profit in September quarter at Rs 94 crore as compared to Rs 77 crore in the same period a year before, and declared a 1:1 bonus share.

Axis Bank gained 1% to Rs 475.The bank has cut marginal cost of fund-based lending rate (MCLR) by 0.15-0.20%.

Deepak Fertilisers & Petrochemicals Corporation is trading marginally higher on the BSE. The company will announce its Q2 numbers today. 

Moody's has affirmed India's Baa3 rating and the positive outlook but no upgrade is on the anvil.

Global cues turned weak as profit booking sets in after a week of heady gains both on the indices & bond yields. With US dollar also weakening emerging markets saw a relief rally with Brazilian index up almost 2% even as most European markets ended in the red. We could see some Asian markets also bounce from oversold territory as value buying emerges.
On the global front, all eyes will be on Janet Yellen as she speaks before congress today.  

Nasscom cut growth guidance for the industry to 8-10 % in constant currency terms from 10-12%. According to the guidance, India will continue to gain market share of 7% of global software and IT services and 56% of global sourcing.

New Delhi has woken up to tremors as a 4.4 magnitude earthquake struck on the Delhi-Haryana border early morning. The first day of Parliament’s Winter session saw the Opposition launch an attack on the government for the demonetisation of high value currencies. 

Sensex rises 265 points during afternoon

Sensex rises 265 points during afternoon, Nifty up by 93 points
The market on Thursday opened on a positive note with BSE Sensex up 260 points or 1 percent above previous close, while Nifty was also in the green.
The Sensex on Wednesday recovered over 265 points as banking stocks rallied on expectations of increase in deposits after the higher value notes withdrawal by the Centre and also Republican Donald Trump winning the US election.
Sensex closed at 27,517.68, up 265.15 points, or 0.97 per cent, During Intra-day, it shuttled between 27,743.46 and 27,457.05.
Nifty ended the day at 8,525.75, a gain of 93.75 points, or 1.11 per cent after swinging between 8,598.45 and 8,510.70.
Stocks like PNB, Bank of India, SBI, Bank of Baroda, Yes Bank, Canara Bank, Federal Bank ICICI Bank, Axis Bank and HDFC Bank were the big gainers of the day.
The BSE small-cap rose 1.75 per cent and the mid-cap up 1.65 per cent.

Sensex ends 265 points up

Sensex ends 265 points up

The BSE benchmark Sensex, which zoomed nearly 500 points to 27,743.46 in late morning trades, ended the day at 27,517.68, recording a gain of 265.15 points or 0.97%. The Nifty50 of the National Stock Exchange ended up 93.75 points or 1.11% at 8525.75, after touching a high of 8598.45 intraday. In the forex market, the rupee rose to a two-month high of 66.34 against the U.S. dollar, before retreating to around 66.40 a dollar, still up 0.05% from its previous close of 66.44. Metal stocks were the star performers today. Mirroring heavy buying in that space, the BSE Metal index rose more than 6%. Bank stocks were in demand, and with top stocks in the banking space surging higher, the BSE Bankex ended 3.63% up. Realty and cement stocks, which were the most prominent losers in the previous session, moved up sharply today and despite retreating from higher levels during the later part of the day, settled with notable gains. Telecom, capital goods, power, oil and healthcare stocks too trended higher, while information technology, consumer discretionary and automobile stocks ended on a mixed note. Several stocks from midcap and smallcap sections rallied sharply. Among Sensex stocks, Tata Steel spurted 9.3%, State Bank of India surged up 8.5%, Cipla gained nearly 7% despite reporting a decline in second quarter earnings, Coal India gained nearly 5% and Power Grid Corporation (on strong results) gained 4.4%. ICICI Bank, Axis Bank and Adani Ports gained 3.7% - 4%. Bharti Airtel, ONGC, HDFC Bank and Larsen & Toubro also rose sharply. Asian Paints declined 3.5%. Hero Motocorp, Lupin, HDFC, Infosys, Bajaj Auto, Maruti Suzuki and Mahindra & Mahindra ended lower by 1% - 3%. Nifty stocks Bank of Baroda (9.3%), Hindalco (8.7%), Bharti Infratel (6.7%), Yes Bank (5.8%),  Aurobindo Pharma (4.5%) and Tata Power (4%) ended with handsome gains. Grasim Industries, Tech Mahindra, UltraTech Cement, BHEL, HCL Technologies, IndusInd Bank, ACC and Idea Cellular also ended on a firm note. Bank of India rallied sharply and ended with a hefty gain of 13% on turnaround results. Motherson Sumi Systems, Manappuram Finance, Caplin Point, JK Tyre, Rane Holdings, Power Grid Corporation and Bodal Chemicals also climbed up on strong results. The market breadth was very strong. Out of 2882 stocks traded on BSE, 2029 stocks moved up. 721 stocks declined and 132 stocks ended flat.

Sensex jumps over 390 points

Live: Sensex jumps over 390 points; Asian Paints stocks fall 1.76%

Shares of India’s third largest bank by market capitalization, ICICI Bank, rose as much as 6.02% to Rs298.40 —the highest since August 2015
The 30-share Sensex is trading 394.01 points up, or 1.45%, at 27,646.54 from its previous close. The Nifty50 of National Stock Exchange (NSE) rises 133.7 points, or 1.59%, to 8,565.70 points

Bank stocks rose sharply by up to 9.5% on Thursday after the government’s decision to withdraw Rs500 and Rs1,000 currency notes from circulation in a bid to curb black money and terror funding. Shares of Bank of Baroda jumped 9.56%, followed by Punjab National Bank (9.19%) and SBI (8.73 %) on BSE. Shares of India’s third largest bank by market capitalization, ICICI Bank, rose as much as 6.02% to Rs298.40, highest since August 2015. Banks have been ordered to remain open on the weekend as well as function late till 9pm for three days beginning Thursday to deal with the huge rush.

2.30pm: India’s benchmark 30-share Sensex is trading 394.01 points up, or 1.45%, at 27,646.54. The Nifty50 of National Stock Exchange (NSE) rises 133.7 points, or 1.59%, to 8,565.70 points

1.50pm: India’s benchmark 30-share Sensex is trading 455.68 points up, or 1.67%, at 27,708.21 from its previous close. The Nifty50 of National Stock Exchange (NSE) rises 145 points, or 1.72%, to 8,577 points.

1.00pm: Hindalco Industries rose 7% to Rs173.75. Rating firm CLSA has added the company’s stock into the former’s portfolio as it sees US infrastructure spend boost.

12.40pm: India’s benchmark 30-share Sensex index is trading 473.22 points up, or 1.74%, at 27,725.75. The Nifty 50 of National Stock Exchange (NSE) rises 162.65 points, or 1.93%, to 8,594.65 point

Live Stock Market Updates

Live Stock Market Updates - Sensex rallies over 350 points
The BSE Mid-cap Index is trading up 2% at 12,976 whereas BSE Small-cap Index is trading up 2.58% at 13,025. Out of 1,852 stocks traded on the NSE, 158 declined, 1,362 advanced and 368 remained unchanged today.the S&P BSE Sensex is trading at 27,624, up 371 points, while NSE Nifty is trading at 8,545 up 114 points. The BSE Mid-cap Index is trading up 2% at 12,976 whereas BSE Small-cap Index is trading up 2.58% at 13,025.

Tata Steel, Cipla, SBI, Bharti Airtel and Sun Pharma are among the gainers, whereas Infosys, Godrej Properties, Redington and Prestige estates are losing sheen on BSE.

All the BSE sectoral indices were trading in the positive territory. Some buying activity is seen in metal, telecom, auto, banking, basic materials and pharma sectors.

The INDIA VIX is down 10.28% at 14.9100. Out of 1,852 stocks traded on the NSE, 158 declined, 1,362 advanced and 368 remained unchanged today.

A total of 18 stocks registered a fresh 52-week high in trade today, while four stocks touched a new 52-week low on the NSE.The rupee opened lower at 66.39/$ as against the previous close of 66.42/$.

Asian markets opened deep in the green as oversold indices saw short covering coupled with fresh buying as the Dow Jones index touched new highs. This after huge intraday swings with US futures hitting lows of -800 points at one time. Bond yields on the US 10 year paper hit over 2% as optimism on growth with infra spending rising saw the yields near 9 month highs.         

The markets have been roiled for some time ever since the chances of a Trump victory surfaced though major bets remained on Hillary who eventually had to concede defeat. For now, Trump’s acceptance speech suggests he has indeed left the campaign ‘trumpisms’ aside and is set to usher in a new world order. The US markets may not have saluted his victory on Wednesday but he is known to be a friend of Wall Street.

Bonds and Gold which saw some smart up move failed to maintain their gains. Banks in India are stepping up activity to help cope with disruption caused by the withdrawal of Rs 500 and Rs 100 currency notes. While a lot of people are finding ways and means to change their high value notes, expectations are that earnings recovery could be pushed a few quarters further.