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Showing posts from December, 2018

Share market Updates: Sensex up 180 points; Nifty above 10900; ONGC, HDFC fall, Titan zooms 4%

Share market LIVE updates: The domestic stock markets– Sensex and Nifty –opened higher tracking positive global cues from Asian markets. The 30-share Sensex rallied by more than 182 points to 36,285.46 in the opening trade while the Nifty 50 is trading above the 10,850 marks.  Kotak Mahindra Bank shares slumped about 0.5% to Rs 1,237.20, as December 31st is the last day according to RBI for Uday Kotak’s to cut stake in the bank. Jewellery-maker Titan shares gained by more than 4% to hit the day’s high at Rs 925.75.

Earlier,  Singaporean and Malaysian stocks rose on Monday in thin year-end trading as a phone call between the U.S. and Chinese leaders spurred hopes that the two economic heavyweights would reach a deal that could ease their damaging trade standoff, Reuters reported.
Rupee opens higher at 69.78 per US dollar; 10-year bond yield falls to 7.37% After appreciating about 40 paise on Friday to close the day 69.93 against the US currency, the rupee gained further strength and op…

RBI to ensure sustained growth of bank capital norms

“While in 2018-19, though concerns surrounding the sector due to debt defaults amidst temporary asset-liability mismatches arose, the inherent strength of the NBFC sector, coupled with the RBI’s continuing vigil on the regulatory and supervisory front, will ensure that the growth of the sector is sustained and liquidity fears are allayed,” said RBI in its report on Trends & Progress of Banking in 2017-18 on Friday.

Retail loans of NBFCs grew at 46.2% y-oy from 21.6% in FY18 reflecting increased consumer demand. The demand was spiked due to the vehicle loan segment, according to the report while credit to the services sector was driven mainly by commercial real estate and retail trade.
At present, the capital adequacy norms for Indian banks are higher than those recommended under Basel.

“The case for a recalibration of risk-weights or minimum capital requirements would need to be carefully assessed—frontloading of regulatory relaxations before the structural reforms fully set in a…

Share market updates: Sensex up 200 points, Nifty above 10,850; Rupee gains against US dollar

Stock market LIVE updates: After opening higher on positive global cues, the Sensex and Nifty extended rally in the morning trade. Sensex is up more than 350 points to 36,160.54, while Nifty is trading above 10,850. Yes, Bank share price gained by more than 2.1% to Rs 182, while ICICI Bank shares zoomed 1.3% to Rs 360.20. The rally was being led by financials, pharma and auto stocks. 

Asia stocks gained on Friday after Wall Street ended volatile trade in the green, adding to the big advances of the previous session, although lingering investor jitters helped support safe-haven currencies such as the yen. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.3 per cent. It has fallen almost 4 per cent so far in December.

Brent crude oil prices jump    Oil prices jumped as much as 3 per cent on Friday to win back a chunk of the ground they lost in the previous session, but growth in U.S. crude stockpiles and ongoing concerns about the global economy kept markets under pressure…

Share market updates: Sensex opens nearly 300 points higher, Nifty hits 10,800; Sun Pharma zoom 1.5%,

The domestic stock markets– Sensex and Nifty– opened higher tracking positive global cues, after Asian markets rallied following the major gains seen on Wall Street yesterday. Sensex zoomed 392 points in the opening trade to 36,041.24, while the Nifty 50 was trading above the 10.800-level. Sun Pharma, VEDL shares gained more than 1.5% each.
Rupee opens The Indian rupee has opened at 70.20 per US dollar against a previous close of 70.07 per dollar. The currency is down around 13 paise.

SUN PHARMA RISES Shares of Sun Pharmaceutical Industries rose over 2 per cent intraday on December 27 after its unit DUSA Pharmaceuticals got injunctive relief in a US patent infringement case. The stock gained as much as 2.4 per cent, quoting at Rs 424 on the BSE. A US district court prohibited Biofrontera and other defendants from using DUSA's confidential and proprietary trade secret information.
ASIA UPDATE | Asian shares on Thursday latched on to a dramatic surge on Wall Street as markets, battered…

Share market updates: Sensex down 200 pts, Nifty gives up 10,600;No change in petrol, diesel prices on Wednesday.

The domestic stock markets– Sensex and Nifty –opened lower on Wednesday morning tracking weak global cues. Sensex tanked 211 points to 35,258.97, while the broader Nifty 50 was trading near 10,600. HUL share price plunged by nearly 2% to 1,750.80, and Sun Pharma share price tanked by more than 1.2%. Meanwhile, Japanese stocks gained in the trade this morning, following a Christmas Day plunge of both the Nikkei 225 and Topix. 

Earlier, President Donald Trump’s attacks on the Federal Reserve spooked the stock market on Christmas Eve, and efforts by his Treasury secretary to calm investors’ fears only seemed to make matters worse, contributing to another day of heavy losses on Wall Street on Monday.
ASIA UPDATE Global stock markets were heading into the year-end under a heavy cloud after another rout this week as US political uncertainty added to heightened concerns over slowing global economic momentum.
OIL UPDATE Brent crude oil futures were trading around $50 a barrel.
Prices -Petrol, di…

Share market updates:Sensex, Nifty falt;Nifty above 10,750; Bandhan Bank falls 3%

After opening mildly higher, Sensex and Nifty turned choppy in the early trade on Monday, tracking weak global cues. The Sensex is down about 60 points to 35,680.63, while the Nifty 50 is trading above the 10,750 level. Earlier, the SGX Nifty was trading 12 points higher at 10,772 or 0.11% up, indicating a mildly positive opening for Sensex and Nifty this morning.

Bandhan Bank- Shares fell as much as 3.15% to Rs 512 per share after it clarified that the bank was unaware of the news that it is in talks with HDFC for control of Gruh Finance.
Infosys - Share price spurted by more than 1.4% to Rs 658.80. India's largest IT firm TCS shares jumped by more than 1.05% to Rs 1,923.15. Shares of Wipro gained by nearly 1.4% to Rs 328.55. According to media reports, IT major Infosys is likely to announce a mega share buyback programme for up to $1.6 billion in January after it's one-year moratorium following the previous buyback, 
PVR, Inox Leisure trade higher as govt reduces the tax on mo…

Petrol price falls below 76/litre mark in Mumbai,down by Rs 12 in 2 months diesel also becomes cheaper.

Petrol Diesel Price Rate Today: In Mumbai, petrol prices fell below the Rs 76 mark to Rs 75.89 after today's correction and diesel is retailing at Rs 67.17 as against Rs 67.39 yesterday

NEW DELHI: Petrol will cost only Rs. 34.04 per litre and diesel Rs. 38.67 per litre without taxes and dealer's commission in the national capital region. Giving details of the prices of petroleum products as on December 19 in a written reply to the Lok Sabha, Minister of State for Finance Shiv Pratap Shukla said the incidence of taxes and dealers commissions work out to be 96.9 per cent in case of petrol and 60.3 per cent for diesel.
On December 19, the retail price of petrol was Rs. 70.63 a litre. This included Rs. 17.98 central excise duty, Rs. 15.02 state VAT and Rs. 3.59 commission of dealer. In the case of diesel, the retail price was Rs. 64.54 (central excise duty of Rs. 13.83, state VAT of Rs. 9.51 and dealer commission of Rs. 2.53).

In Mumbai, petrol prices fell below the Rs 76 mark to…

Maruti Suzuki share price falls 1.7% after sales target cut to 8%

Shares of India’s largest auto-maker Maruti Suzuki tanked in trade on Thursday morning, after the firm announced a sales target cut for FY19. Maruti Suzuki share price slumped by more than 1.7 percent to Rs 7,800 on BSE this morning. After declining sales growth in the last five months despite the festive season, Maruti Suzuki India said it would be unrealistic to expect double-digit growth in fiscal year (FY) 2018/19, something it had targeted at the start of the year in April.

“We registered double-digit growth in the first half of the year but the third quarter has been tough. We are targeting flat sales in this quarter,” R C Bhargava, chairman, said. On the NSE, the stock plummeted 4.67 percent to settle at Rs 7,201 apiece. The shares hit a low of Rs 7,180 and a high of Rs 7,486.30 in the intra-day trade.
Among the Sensex constituents, Maruti Suzuki was the worst hit. The auto major's stock had slumped over 2 percent on the bourses on December 5. Besides Maruti, other automob…

Share market updates: Sensex up 130 pts, Nifty Hits 10,950; Asian Paints zooms 3%;

Share market LIVE updates: The headline indices– Sensex and Nifty– opened higher on Wednesday, tracking mixed global cues. Sensex is trading about 146 points higher at 36,493.46, while the Nifty 50 has breached the 10,950-mark. Asian Paints share price zoomed 3% to a near 4-month high of Rs 1,399. Infosys share price plunged by more than 2% to Rs 663. Private sector lender Yes Bank shares gained by more than 1.5% to Rs 181.75 after the firm reportedly recommended the name of its board member Brahm Dutt for the post of Chairman to the RBI.

Shares of Anil Ambani-led Reliance Communications plunged by more than 12% to an intra-day low of Rs 13.77 after media reports indicated that the DoT rejected spectrum deal with Reliance Jio.arlier, the SGX Nifty was trading at levels near 11,000, 41 points higher, indicating a gap-up opening for Sensex and Nifty.  Insurance software services provider Majesco said Bajaj Allianz General Insurance Company has selected Majesco Distribution Management f…

Ujjwala Yojana: Govt now extends Free LPG (Cooking Gas) For All Poor Homes

The government on Monday extended Ujjwala Yojana of providing free cooking gas (LPG) connections to all poor households, Oil Minister Dharmendra Pradhan said. The scheme, launched in 2016, originally targeted giving LPG connections to mostly rural women members of below the poverty line (BPL) households. The list was later expanded to include all SC/ST households and forest dwellers among others.

The scheme is now being extended to all poor households. Pradhan said the Cabinet Committee on Economic Affairs (CCEA) approved expanding the scope of Pradhan Mantri Ujjwala Yojana to cover poor families not having LPG connections and not covered under the existing beneficiary categories.
Under the scheme, the government provides a subsidy of Rs. 1,600 to state-owned fuel retailers for every free LPG gas connection that they install in poor households. This subsidy is intended to cover the security fee for the cylinder and the fitting charges.
The beneficiary has to buy her own cooking stove…

Share market: Nifty below 10,850, Sensex down over 150 pts;Tata Motors zooms 2%;OBC jumps nearly 4%

Share market LIVE updates: The domestic stock market–Sensex and Nifty–opened lower tracking weak global cues, after S&P 500 closed at a 14-month low on concerns about slowing economic growth. The 30-share Sensex slumped 213 points in the opening trade to 36,047.49, while the broader Nifty 50 was trading firmly below 10,850-level. 

Tata Motors share price gained by more than 2% to hit the day’s high at Rs 177.60. Notably, the firm’s subsidiary JLR has reportedly hired Boston Consulting Group for its $3.2 billion turnaround plan.
Earlier, the SGX Nifty was trading 38 points lower indicating a negative start for Sensex and Nifty. Asian share markets slumped on Tuesday as heightened concerns about a slowing global economy sent Wall Street stocks skidding to their lowest levels in more than a year. MSCI’s broadest index of Asia-Pacific shares outside Japan shed 0.3 percent in mid-morning trade while Japan’s Nikkei tumbled 1.2 percent by the midday break. We bring to you live updates.

ABB sells Power Grids to Hitachi in $11 billion deal

Tokyo/Zurich: ABB will move 80.1% of its Power Grids division to Japan's Hitachi, the Swiss building bunch said on Monday, including it would return net money continues of $7.6-7.8 billion from the arrangement to investors. The Zurich-based organization, which said the exchange put the Power Grids business' venture an incentive at $11 billion, additionally said on Monday it would change the structure of its outstanding organizations. That reshuffle will result in generally $500 million yearly run-rate cost decreases following $500 million in rebuilding charges. 

ABB India Ltd shares fell as much as 2.10% to ₹1401.15 each on the BSE after the declaration of the Hitachi-ABB bargain. At 2.26pm, the stock exchanged 1.91% lower at ₹1404.00. Prior in the day, the stock rose as much as 2.35% to ₹1,465. 
ABB's capacity matrix unit makes and works framework including power transmission gear and control frameworks in various nations. The arrangement would likewise make Hitachi the …

Share market Updates: Sensex up 300 points; Nifty above 10,850

After opening higher, the domestic headline indices– Sensex and Nifty– rallied further despite weak macro cues. Sensex is up 307 points to 36,268.18, while the Nifty 50 is trading firmly above the 10,850-level.

VEDL share price gained by more than 5% on Monday morning after NGT allowed the firm to resume operations in the Toothukudi copper smelter plant. Jet Airways share price slumped 4.8% after reports that turnaround-man Nikos Kardassis has exited the firm.
Asian share markets began the week on a cautious note after soft economic data from China and Europe added to evidence of cooling global growth and reinforced anxiety over the broadening impact of international trade frictions. On Friday, the S&P 500 more than 1.9% to 2,599.95, its lowest close since April 2.  The benchmark index has plunged 11.3% from record high levels of its Sept 20. Tata Motors (up 4.01 percent), Vedanta (up 3.32 percent), PowerGrid (up 3.23 percent), NTPC (up 2.51 percent) and ICICI Bank (up 1.71 perce…

Rundown of Best Stocks to Buy in India for Long Term

1 Titan Company Ltd.  Titan is a standout amongst the most celebrated brands in India. Titan Company is a piece of Tata Group working in the buyer durables division. The organization is having a market top of Rs. 82,377.68 crores. FIIs, DII and MF hold a decent stake in the organization that recommends that the future standpoint is great. Throughout the years Titan has been the pioneer in its part and given great comes back to the financial specialists over the long haul. The beneath diagram plainly indicates how enormous riches generator Titan has been. 
2 Bata India Ltd.  Bata India is one of the main shoe makers in India. It has a place with the buyer items segment and has a market top of Rs. 12,536.58 crores. The advertisers and different foundations hold a noteworthy stake in the organization. The long haul outline of Bata India proposes that it is outstanding amongst other stocks to put resources into India as long as possible. 
3 Jubilant Foodworks Ltd.  Euphoric Foodworks Ltd.fu…

Diesel prices fall to lowest this fiscal year;Petrol Price Hiked By 10 Paise

Petrol, diesel prices today: The oil marketing companies (OMCs) on Saturday increased prices of petrol by 5 paise while cutting diesel by 7 paise on account on fall in global crude oil rates. Petrol can today be availed for Rs 70.34 per litre in Delhi and diesel for Rs 64.50. In Mumbai, petrol is selling for Rs 75.96 per litre and diesel 67.50 per litre today.

On Friday, petrol was selling at Rs 70.29 in Delhi, Rs 72.38 in Kolkata, Rs 75.91 in Mumbai and Rs 72.94 in Chennai. Diesel was available for Rs 64.57 in New Delhi, selling at the lowest level in Delhi since the start of this fiscal year. Diesel was selling at Rs 66.33 in Kolkata, Rs 67.58 in Mumbai and Rs 68.18 in Chennai yesterday. Petrol and diesel prices are dependent on international prices of crude and the rupee-US dollar exchange rate as India imports bulk of its oil requirement through imports. 
Since October, global oil prices have tumbled nearly 30% amid concerns over oversupply and worries on global growth. Currently…

Share market: Sensex turns choppy; Nifty below 10,800; PNB rises nearly 2%;Reliance Comm rises 6%

Share market LIVE updates: Sensex and Nifty have turned choppy this afternoon amid mixed macro cues like weakening rupee and easing crude prices. Sensex is trading about 40 points lower at 35,879.21. Nifty saw similar movement, shedding 7.9 points, 0.05 per cent, to 10,783. Shares of Punjab National Bank (up 1.96 per cent), YES BankNSE 2.26 % (up 0.80 per cent), ICICI BankNSE 1.06 % (up 0.69 per cent) and Federal Bank (up 0.45 per cent) were the top performers in the index. 

IDFC Bank (down 0.76 per cent), IndusInd Bank (down 0.57 per cent), Axis Bank (down 0.50 per cent) and Kotak Mahindra Bank (down 0.43 per cent) were trading in the red. 
Shares of YES Bank, Motherson Sumi, Indian Oil Corp, Idea Cellular, Bharti Airtel, ICICI Bank, Tata Motors, Ashok Leyland, SBI, Indiabulls Housing Finance, Bank of Baroda and Sun Pharma were among the most traded shares on the National Stock Exchange. 
RBI Board Meeting Gets Underway
The crucial central board meeting of the Reserve Bank is underwa…

Kamal Nath is MP's new chief minister, deliberations continue for Rajasthan,Chhattisgarh

Congress president Rahul Gandhi on Thursday picked Madhya Pradesh PCC chief Kamal Nath over Jyotiraditya Scindia for the top job in MP. However, a decision is yet to be taken by the party for chief minister's posts in Rajasthan and Chhattisgarh.After rumours of infighting in Congress, both the leaders Scindia and Nath held a press conference late Thursday at the party office in Bhopal where the latter was declared the state's new chief minister. He said the date for the swearing-in ceremony will be decided after holding consultations with Governor Anandiben Patel. 

In Rajasthan, where the odds seem to favour Ashok Gehlot amid reports of Sachin Pilot standing his ground, a final decision is expected to be announced Friday morning. The Congress party has the required numbers to form the government in all three states, the elected MLAs have not been able to decide their leader. The newly-elected legislators at the Congress Legislature Party meetings yesterday authorised the part…

Share market: IT shares fall; Sensex rises over 200 points; Nifty50 tops 10,800; Bandhan Bank jumps 6%

Share Market Today: Indiabulls Housing Finance, Yes Bank, Indian Oil, State Bank of India and Tata Motors were the top five Nifty gainers.The Nifty IT index was trading 0.38 per cent down at 14,683.25 on Thursday with most of its components trading in the red.  Shares of MindTree (down 1.67 per cent), Tata Consultancy ServicesNSE -1.33 % (down 1.27 per cent),Tata ElxsiNSE -0.69 % (down 0.93 per cent) and Tech Mahindra (down 0.88 per cent) were the top losers in the index. HCL Technologies (down 0.53 per cent), Wipro (down 0.15 per cent) and NIIT Technologies (down 0.09 per cent)  too were trading in the red. 

Bandhan Bank surges 6% as RBI allows it to open 40 new branches - Bandhan Bank shares surged over 6 per cent in early trade on Thursday as the Reserve Bank of India allowed Bandhan Bankto open as many as 40 new branches, the first time since it put a restriction on the bank's branch opening spree three months back. 
Top gainers in morning trade include Yes Bank, SBI, Tata Moto…

State elections and stock markets-Shock for BJP! Congress leads in Madhya Pradesh, Rajasthan, Chhattisgarh; Sensex down by 330 points!

Countdown has begin and all eyes are watching two developed parties Congress and BJP, as today the outcome of assembly elections will be announced.
Ahead of the result, markets have already shown a negative sentiment, as in previous trading session, BSE Sensex cracked below the 35,000 mark to close at 34,959.72. The broader NSE Nifty fell 205.25 points, or 1.92 per cent, to 10,488.45.The benchmark Sensex plummeted 714 points as investors panicked over exit polls suggesting the Congress is giving a tough fight to the ruling BJP in state elections. The bruised rupee and weak global cues also further dampened sentiment. 

Share Market LIVE, Election results Updates:  Sensex opened today at 34,603.72. Before the market opened, all eyes were on the stock market as the counting for five state assembly elections has started today, a day after RBI governor Urjit Patel resigned. Patel's decision to quit as the Governor of the Reserve Bank came as a jolt to investors as it has apparently sha…

Opening Bell for December 11 2018

INTRADAY+BTST: BUY SBIN 280PE FIRE..................17.10...........!!!
The market fell sharply on December 10 with the Sensex losing more than 700 points after mixed outcomes from exit polls. Weak global cues amid rising tensions between the US and China also dampened market sentiment.

The Nifty50 closed below psychological 10,500 levels, forming small bearish candle on the daily charts on Monday. Traders retained their cautious stance ahead of outcome of five states' elections which is scheduled to be announced on December 11, and after Urjit Patel resigned as RBI governor. "The short term trend of Nifty is dicey. All eyes on tomorrow's 5 states assembly election results, which are expected to be out completely by noon," Nagaraj Shetti, Technical Research Analyst at HDFC securities said. Hence, a 10,450 levels is going to be a make or break situation for the bulls to hold on a defense, he added.

RBI Deputy governor Viral Acharya resigns minutes after the RBI governor Urjit Patel left his post

RBI Deputy governor Viral Acharya resigns minutes after the RBI governor Urjit Patel left his postAcharya assumed the office of Deputy Governor of RBI on January 20, 2017. NEW DELHI: RBI is locked in major tussle with the government over its autonomy Government has appointed several of its nominees to the board Urjit Patel says quitting effective immediately for personal reasons

In a series of tweets, Prime Minister Narendra Modi said Mr Patel "leaves behind a great legacy. We will miss him immensely".
Full  text of statement by Governor
On account of personal reasons, I have decided to step down from my current position effective immediately. It has been my privilege and honour to serve in the Reserve Bank of India in various capacities over the years. The support and hard work of RBI staff, officers and management has been the proximate driver of the Bank’s considerable accomplishments in recent years. I take this opportunity to express gratitude to my colleagues and Direct…

Share market update:Sensex falling 600 pts, Nifty nears 10,500, 200 stocks hit 52-week lows on NSE

The S&P BSE Sensex started at 35,204.66 and the Nifty50 barometer of the National Stock Exchange (NSE) was at 10,508.70 against their last closing levels of 35,673.25 and 10693.70 respectively. At 9:55 am, the 30-share Sensex was at 35,023.98, down 649.27 points or 1.82 per cent and the 50-scrip Nifty was at 10,498.10, with a loss of 195.60points or 1.83 per cent. All 50 Nifty stocks and the entire 30-share Sensex pack plunged. 

Top losers include Reliance Industries, Adani Ports, PowerGrid, Coal India, Asian Paints, Kotak Bank, ONGC, Vedanta, Yes Bank, Bharti Airtel, Hero MotoCorp and ICICI Bank, falling up to 4 per cent.
Oil prices rose on Monday, extending gains from Friday when producer club OPEC and some non-affiliated producers agreed a supply cut of 1.2 million barrels per day (bpd) from January. International Brent crude oil futures were at $62.15 per barrel at 0129 GMT, up 48 cents, or 0.8 percent, from their last close.
Rupee at 3 week low; slips past 71 per US dollar -…