Nifty above 10,600 mark ahead of RBI policy

Equity benchmark indices opened higher led by Infosys, L&T, ITC, Bharti Airtel and Reliance Industries and ahead of RBI Monetary Policy review that begins today.


the BSE Sensex was up 60 points at 34,963, and the Nifty was up by 15 points at 10,608.

The Reserve Bank of India has issued a no objection certificate to the deal of merger between IDFC Bank and Capital First. Stocks gained 3% respectively.

Shares of CG Power and Industrial Solutions rose 3% after the company bagged an order from the Indian Railways worth at Rs319cr to supply Under Slung Electrics for Diesel Electric Tower Car (DETC).

On the sectoral front, metal, auto, realty, FMCG, pharma and IT were trading in the positive zone, while media, bank and financial stocks in the red.

In the broader market, the BSE Midcap was marginally higher by 0.07%, while the BSE Smallcap was marginally down by 0.41%.

Out of 2,017 stocks traded on the NSE, 514 advanced, 1,023 declined and 480 remained unchanged today.

Power Grid (+1.6%), Coal India (+1.6%), Indiabulls HF (+1.5%), Bharti Airtel (+1.3%) and HCL Tech (+0.99%) were the top gainers on the NSE.

Tech Mahindra (-1.7%), Asian Paints (-1.5%), Zee (-1.2%), HPCL (-0.98%) and Cipla (-0.86%) were the top losers on the NSE.

The Indian rupee opened higher by 7 paise at 67.08 per dollar on Wednesday versus 67.15 yesterday.

Reference By- https://www.indiainfoline.com/article/news-top-story/nifty-above-10-600-mark-ahead-of-rbi-policy-118060600009_1.html

Sensex loses 95 pts, Nifty ends below 10,700; Midcap index sheds 267 pts

Benchmark indices ended lower, with the Sensex falling 95.12 points to 35,227.26 due to sell-off in banking & financials, FMCG and technology stocks.

The Nifty slipped 40 points to 10,696.20. About three shares declined for every share rising on the BSE.

The Nifty Midcap index fell 267 points.

Atlanta, Manpasand Beverages, GMR Infrastructure, Shankara Build, PC Jeweller, Reliance Nippon, Kwality, IRB Infrastructure, V-Guard, Graphite India, Tinplate, HEG, Venky's, Edelweiss Financial, Allahabad Bank, Andhra Bank, CG Power and Punj Lloyd fell up to 15 percent.

Firstsource, KPIT Technologies, Torrent Pharma, Engineers India, Ashok Leyland and TVS Motor Company gained up to 4 percent.

Reference By- https://www.moneycontrol.com/news/business/markets/closing-bell-sensex-loses-95-pts-nifty-ends-below-10700-midcap-index-sheds-267-pts-2580369.html

Sensex ends below 35K, sheds 216 pts; Nifty Bank loses 359 pts

Market Closing: Benchmark indices snapped three-day winning streak, dented by weak global cues and sharp fall in rupee.

Banking & financials are the major losers that pulled the market lower in trade today.

The 30-share BSE Sensex dropped 216.24 points or 0.61 percent to Rs 34,949.24 and the 50-share NSE Nifty fell 55.40 points to 10,633.30 while Nifty Midcap was down 0.35 percent.

Bank of India, PC Jeweller, Bank of Baroda, Balrampur Chini, HCC, Canara Bank and Strides Shasun were under pressure.

Ruchi Soya, Ashok Leyland, Idea Cellular, SAIL and BHEL gained up to 4 percent.

Closing Bell: Sensex up over 300 pts, midcaps underperform; IT zooms, ONGC dips

Benchmark indices rose, driven by IT stocks, such as, Infosys and TCS on the back of a weak rupee. The IT index has gained 18 percent so far this year. The rupee has weakened by more than 7 percent so far this year, as surging crude oil prices weigh on India, the world’s third-largest importer, raising fears that soaring costs could drive up inflation and widen the trade deficit.

Meanwhile, ONGC ended the day 4 percent lower after falling 10 percent in intraday trade after the media reports suggested that the government may ask the company to share the burden to reduce fuel price.

We continue to be positive on the overall market and recommend buying stocks in the private banks, consumption space where earnings momentum are strong. Some of the stocks which we like are Godrej Agrovet, Bajaj Finance, Kotak Bank and Relaxo Footwear.

Reference By- https://www.moneycontrol.com/news/business/markets/closing-bell-sensex-up-over-300-pts-midcaps-underperform-it-zooms-ongc-dips-2574767.html

Sensex rises 262 pts, Nifty above 10,600 on oil correction and strong rupee

Benchmark indices extended rally for the second consecutive session as the Sensex was up 261.76 points at 34,924.87, backed by banking & financials, oil, metals and technology stocks.

The 50-share NSE Nifty gained 91.30 points at 10,605.20 while Nifty Midcap index rallied 2 percent, outperforming frontliners.

Page Industries, Castrol, Adani Power, Avenue Supermarts, Cadila Healhcare, Gateway DIstriparks and MCX surged up to 20 percent.

Granules India fell 5 percent and IDBI Bank declined 2 percent.

The rupee has recovered from the intraday low of 68.28, currently trading at 67.77 against the US dollar, up 57 paise.

Referance By- https://www.moneycontrol.com/news/business/markets/closing-bell-sensex-rises-262-pts-nifty-above-10600-on-oil-correction-and-strong-rupee-2575677.html

Market Live: Sensex up 150 pts, Nifty above 10,550; TCS hits Rs 7 lakh cr in market cap

Benchmark indices extended opening gains, with the Sensex rising 146.50 points to 34,809.61 and the Nifty gaining 41.50 points at 10,555.40.

About two shares advanced for every share rising on the BSE.

TCS became the most valued listed company in India, crossing the market cap of Rs 7 lakh crore.

The Railways Strategic Business Group of L&T Construction’s Transportation Infrastructure business has won a major design & build order from the Dhaka Mass Transit Company Ltd. (DMTC) worth Rs 3191 crore for Electrical & Mechanical Systems Package of Dhaka Mass Rapid Transit Development Project (MRT – Line 6).

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Sensex off opening high; Tata Motors hits fresh 52-week low

The market traded higher after yesterday's sharp fall, with the Sensex rising around 100 points despite mixed trend in Asian peers.

The Nifty Midcap underperformed frontliners while IT index outperformed every indices, rising more than 1.5 percent on sharp depreciation in the rupee yesterday.

The rupee recouped some of previous day's losses, trading 12 paise higher at 68.30 a dollar. Yesterday, it had corrected 38 paise to close at 68.42 a dollar.

The 30-share BSE Sensex gained 114.95 points at 34,459.86 and the 50-share NSE Nifty rose 23.70 points to 10,454.10.

About 985 shares advanced against 542 declining shares on the BSE.

Referance By- https://www.moneycontrol.com/news/business/markets/market-live-sensex-off-opening-highs-tata-motors-hits-fresh-52-week-low-2574767.html