Sensex dips 60 points, consumer durables stocks fall

The Sensex on Monday was trading 60.16 points or 0.24 per cent down as capital goods and consumer durables stocks dipped.
Selling pressure was seen in capital goods, consumer durables and healthcare sectors, while marginal good buying was seen in auto stocks.
The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 25,093.16 points, was trading at 24,964.19 points (at 09.19 am) in the early session, down 60.16 points or 0.24 per cent from the previous day's close at 25,024.35 points.
The Sensex touched a high of 25,095.76 points and a low of 24,955.56 points in the trade so far.
The S&P BSE capital goods index dipped by 130.14 points, consumer durables index slipped by 130.73 points and healthcare index fell by 79.61 points. However, auto stocks went up by 53.63 points.
The wider 50-scrip Nifty of the National Stock Exchange (NSE) was trading 28.15 points or 0.38 per cent lower at 7,431.45 points.

Weakness in banks, RIL drag Nifty below 7,400

Markets have come off morning lows as gains in SBI and metal major capped losses in heavyweights. At 1040 hrs, the Sensex was down 88 points at 24,717 and the Nifty was down 16 points at 7,385.

Meanwhile, the broader market firmed with both the mid and smallcap indices adding 0.8% each.

Oil & Gas, Auto and Bankex were the only indices in red, down 0.2-0.6%. Defensives like IT and FMCG indices were down 0.1% each.

Sensex drops over 100 points; Tech Mahindra up 4% post Q2 results

 

NEW DELHI: The S&P BSE Sensex slipped over 100 points in morning trade on Friday, weighed down by losses in realty, consumer durables, banks and power stocks. Tracking the muted momentum, the 50-share Nifty index was trading close to its crucial psychological support level of 6150 levels.

Tech Mahindra rallied as much as 3.78 per cent in morning trade after the IT major surprised analysts on Thursday by reporting better than anticipated revenue growth in dollar terms. Revenue came at $758 million increased by 4.7% sequentially, higher than the expectation of 2.7-3% increase.

At 09:20 a.m.; the 50-share index was at 6163, down 23 points or 0.38 per cent. It touched a high of 6,173.75 and a low of 6,139.85 in early trade today.

The S&P BSE Sensex was trading at 20,762, down 61 points or 0.3 per cent. It touched a high of 20,792.30 and a low of 20,645.64 in trade today.

The S&P BSE Midcap Index was down 1.07 per cent and BSE S&P Smallcap Index edged lower by 1.1 per cent.

Among the sectoral indices, the BSE Consumer Durable Index was down 1.03 per cent, followed by the S&P BSE Auto Index which dropped 0.68 per cent and the S&P BSE Capital Goods Index was trading 0.62 per cent.

The BSE IT index was trading 0.3 per cent higher, followed by the BSE Metal index which was up 0.29 per cent, BSE HealthCare index was trading flat with positive bias.

Tata SteelBSE 1.32 % (1.3 per cent), Wipro (0.9 per cent), Cipla (0.66 per cent), Infosys (0.47 per cent) and Sesa Goa (0.15 per cent) were among the major Sensex gainers.

Sun Pharma (1.78 per cent), ONGC (1.73 per cent), BHELBSE 0.86 % (1.34 per cent), GAIL (1.3 per cent) and Maruti SuzukiBSE -1.02 % (1.32 per cent) were among the index losers.

Asian shares slumped to a three-week low after U.S. stocks suffered their biggest fall in more than two months, weighed down by GDP data and surprise interest rate cut by the European Central Bank.

Japan's Nikkei 225 index was trading 0.9 per cent lower at 14,097.50 and Hong Kong's Hang Seng index was trading 0.4 per cent lower at 22,788.12.

South Korea's Kospi index was trading 0.3 per cent lower at 1,997. China's Shanghai index was trading 0.3 per cent lower at 2,122.

BSE Sensex trades flat during pre-noon trade

The BSE benchmark index was trading flat and was down over 30 points in Tuesday's trade on selling pressure. At 12.17 pm, Sensex was down 32.51 points at 20861.38. Similarly, Nifty was down 9.35 points at 6195.60 during the same time.

Good buying was observed in IT, metal and public sector undertakings (PSU) sectors; while selling pressure was seen in fast moving consumer goods (FMCG) sector.

The 30-scrip sensitive index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 20,863.15 points, was trading at 20,893.70 points in the early morning session, down 0.19 points or 0.00 percent from previous day's close at 20,893.89 points.

The Sensex touched a high of 20,948.91 points and a low of 20,849.78 points during trade so far.

The S&P BSE IT index gained 20,849.78 points, metal index inched up by 46.92 points and PSU index moved up by 39.65 points; however, FMCG index dipped by 12.80 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading down by 0.30 points or 0.00 percent at 6,204.65 points.

BSE Sensex up in morning trade on sustained buying, Jet Airways shares gain

 
The BSE benchmark Sensex continued its rising sreak and was trading over 100 points in morning trade on Friday on sustained buying by funds as well as retail investors, ignoring a weak trend on the other Asian boures.

At 10.38 am, Sensex was up 93.11 points at 19995.18. Similarly, Nifty was up 33.95 points at 5943.65 during the same time.

The 30-share index gained 60.89 points, or 0.31 per cent, to trade at 19,962.96 points in early trade with auto, consumer durables, IT and realty sector stocks leading the rise. It had rallied over 522 points in the past two sessions.

On the similar lines, the wide-based National Stock Exchange index Nifty moved up 12.00 points, or 0.20 per cent, to 5,921.70.

Brokers said sustained buying by funds as well as retail investors took place as the partial US government shutdown eased fears about the Federal Reserve tapering its monetary stimulus programme soon.

Stocks of Jet Airways turned buyers' fancy and shot up by 3.60 per cent to Rs 400.50 after the Union Cabinet on Thursday night cleared its proposed sale of 24 per cent equity to Abu Dhabi-based Etihad.

In the Asian region, the Japan's Nikkei fell 0.90 per cent, while Hong Kong's Hang Seng shed 0.72 per cent in early trade.

The US Dow Jones Industrial Average ended 0.90 per cent lower in Thursday's trade.

Bloodbath on D-Street: Sensex tumbles 651 points on FII outflows

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Mumbai, Sept 3:  

Jittery investors pulled down the BSE benchmark Sensex by 651 points to 18,234.66 on Tuesday after the rupee depreciated below 68 against the dollar.

Similarly, the 50-share NSE index Nifty was down 209 points at 5,341.

The entire sectoral index on BSE tumbled with the banking index being hit the most followed by consumer durables and realty.

Banking index was down 5.06 per cent, followed by consumer durables 4.61 per cent, realty 4.39 per cent and FMCG 3.89 per cent.

Rupee depreciation

The sharp depreciation in rupee may widen the current account deficit further, posing a major challenge to the Government which is battling to revive the economic slowdown.

Vaibhav Agrawal, Vice-President (Research), Angel Broking, said: "The economic fundamentals in the near-term remain on shaky ground. Increase in oil prices due to the Syria situation is expected to add to the current account deficit burden, keeping the rupee under pressure. Hopes of quick reversal of interest rate hikes by RBI are waning, and the GDP and earnings growth outlook for FY'14 continues to have downside.''

Scrip movement

Most Sensex stocks plunged as investors booked profit after a rally witnessed in the last three days.

Reliance Industries fell 6 per cent to Rs 830 after the stock rose 10 per cent in the preceding four trading sessions. It made a low of Rs 803.80 on August 27.

Housing Development Finance Corporation lost five per cent to Rs 700 after a three-day rally of 12 per cent.

TVS Motor Company was down five per cent at Rs 30. Interestingly, Multi Commodity Exchange, which is facing the wrath of its group company National Spot Exchange settlement default, gained five per cent to Rs 411.

Axis Bank (-9.27 per cent), YES Bank (-9.13%), Piramal Ent (-8.93%), TV18 Broadcast (-8.70%), Indusind Bank (-8.45%), Federal Bank (-7.56%), Indiabulls Real Estate (-7.53%), LIC Housing Fin (-7.08%), Titan Inds (-7.07%) and Century Textile (-6.86%) were the major losers.

Lupin, MphasiS, Britannia Industries and Amara Raja were among the few blue-chip companies which gained on the BSE today.

Arun Kejriwal, Founder-Kris Research, said: “The Middle-East crisis affects the globe as much as it affects India. However, today’s market movement showed that India was the only market that was affected with the benchmarks breaching the four per cent levels intra-day before weighted average close. This clearly shows that India has enough internal problems affecting the rupee, economy and therefore the markets.''

Markets bounce back, Sensex ends up 405 points

Markets ended higher on Thursday, following the expiry of August derivative, tracking a rebound in the rupee after the Reserve Bank of India decided to provide dollars directly to oil companies.

The ones leading the gains in Thursday's trade were oil & gas major Reliance Industries along with HDFC, ITC, TCS and HDFC Bank.

The Bombay Stock Exchange’s 30-share Sensex closed at 18,401 up 405 points. The National Stock Exchange’s 50-share S&P CNX Nifty closed at 5,409 up 124 points.

In the broader markets, the midcap index advanced 1.5% and the smallcap index gained 0.7%, both underperforming as compared to the 2.2% gain see on the BSE benchmark index.

Global Markets

Asian shares recouped some of the two previous sessions' steep losses on Thursday as fears abated that US-led forces would soon launch a military strike on Syria, and oil prices retreated from a six-month peak.

Emerging market currencies stabilised after their recent battering, with the Indian rupee coming off a record low after the central bank moved to provide dollars directly to oil companies, offering the currency some relief.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 1% after falling 2.2% in the previous two sessions.

Japan's Nikkei share average advanced 0.8% in light trade, helped by the safe-haven yen giving up some of the recent gains that had taken it to a three-week high against the dollar.

European shares too started trading in the green ahead of consumer price data. FTSE 100, CAC and DAX were up 0.1-0.4%.

Rupee

The rupee gained against the dollar today after the Reserve Bank of India announced measures late Wednesday to curb rupee fall through dollar flows.

At 1600 hrs, the partially convertible rupee was trading at 67.31 per dollar against the Wednesday’s close of 68.80/81, when it hit a record low of 68.85.

Sectors & Stocks

All the sectoral indices closed in the green with gains of atleast 0.4%. Oil & Gas, Metal, FMCG, Capital Goods and Auto indices added 2-3% and were the top sectoral gainers.

Power, Bankex, Health Care, Teck, Consumer Durables and PSU indices, too were up 1-1.8%.

The only losers among the Sensex-30 were Coal India down 1.6% along with SBI, Tata Power, Tata Steel, Infosys and Cipla which lost 0.3-0.6%.

Metal names like Sesa Goa, Hindalco and Jindal Steel were up 2-13.5%.

From the financial space, HDFC, HDFC Bank and ICICI Bank gained 1.3-5.7%.

Reliance Industries up 4.2% was top gainer from the Oil & Gas pocket along with Gail India and ONGC up 2% each.

FMCG heavyweights, ITC and HUL were also up 2% each.

Tata Motors, Mahindra & Mahindra, Maruti Suzuki, Hero MotoCorp and Bajaj Auto were the movers in the auto segment, adding 0.6-2.6%.

Bharti Airtel, Dr Reddys Lab, NTPC, BHEL and L&T which added 2.5-4% were the other notable gainers.

The market breadth was very positive owing to the strength in broader markets. 1,275 stocks advanced while 989 stocks declined on the BSE. Jinsy Mathew in Mumbai

Market sentiments improve, Sensex surges over 200 points

SI Reporter in Mumbai

Benchmark indices have closed higher, amid volatile trading session led by FMCG and IT shares.

Meanwhile, the Centre's fiscal deficit ballooned to almost 63% of Budget Estimates for 2013-14 in just first four months of the year.

The deficit stood at Rs 3.40 lakh crore (Rs 3.4 trillion) in April-July period, which was 62.8% of Rs 5.42 lakh crore pegged in the Budget, according to data released by the Controller General of Accounts (CGA).

The 30-share Sensex ended up 219 points at 18,620 and the 50-share Nifty ended up 63 points at 5,472.

Prime Minister Manmohan Singh said that the rupee's tumble is a "matter of concern" but is part of a needed adjustment due to India's large current account deficit.

Singh said that rupee depreciation will see upward pressure on inflation, but added that RBI will work on containing it.

Indian economy will grow at about 5.5% in the current fiscal and the first quarter numbers are expected to be relatively flat, Prime Minister Manmohan Singh said today.

The key trigger for markets now will be first quarter GDP data scheduled later today.

Moody's Analytics, the research and analysis wing of Moody’s expects the Gross Domestic Product (GDP) growth for the first quarter to be at 4.5%.

On the global front, Asian stocks rose and oil prices tumbled as a possible U.S. military strike on Syria appeared less likely, while the dollar remained not far from a three-week high against a basket of currencies after upbeat US growth data.
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Diesel prices may be hiked by Rs 3 a litre next week

New Delhi: Diesel prices may be increased by at least Rs 3 a litre after the monsoon session of Parliament ends next week as the depreciating rupee threatens to widen the government's fuel subsidy bill.

Oil Minister M Veerappa Moily said while there was no proposal with him "just now" to raise diesel prices, the depreciating rupee was a matter of concern.

With the rupee falling past the 66-mark against the dollar and closing at 66.24 today, state-owned oil companies have to pay more to buy crude from abroad. If retail fuel prices are not raised by a commensurate level, the difference has to be borne by the government.

"I have not thought of increasing (diesel) prices as of just now...Future I can't say," Moily told reporters here.

Losses on diesel sales at government-controlled rates have widened to Rs 10.22 per litre from Rs 9.29 a litre at the beginning of the month and less than Rs 3 per litre in May, even as prices are raised by 50 paise a litre every month.

Oil firms have asked the government for a one-time increase in rates, P K Goyal, Director (Finance) of Indian Oil Corp, the nation's largest fuel retailer, said yesterday.

Besides, the oil companies lose Rs 33.54 per litre on kerosene and Rs 412 per 14.2-kg cooking gas (LPG) cylinder.

The revenue loss or under-recovery on diesel and cooking fuel was estimated at Rs 80,000 crore at the beginning of the fiscal and has now widened to Rs 140,000 crore.

Every one-rupee depreciation in the local currency against the dollar adds Rs 8,000 crore to the under-recovery, Moily said.

The government had in January allowed oil companies to raise diesel rates by up to 50 paise per month until losses on the most-consumed fuel in the country are wiped out.

Oil companies feel a 50 paise hike is insufficient and there should be a higher, one-time increase to cover for the fall in the rupee.

The price of diesel was last increased on August 1, when prices in Delhi went up by 56 paise (including local taxes) to Rs 51.40 per litre.

IOC, Bharat Petroleum and Hindustan Petroleum lost Rs 25,579 crore in revenue in the first quarter ended June 30, of which the government made good Rs 8,000 crore by way of cash subsidy.