Nifty Opens Below 7450

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The market has opened sharply lower on Wednesday following weak global cues. 

Lower oil prices and China's growth concerns hit global markets. 

The Sensex fell 183.11 points to 24476.12 and the Nifty declined 51.40 points to 7433.90. 



Lupin, Coal India, Maruti, NTPC and ONGC are top gainers while Hindalco, ICICI Bank, Tata Steel, Tata Motors and BHEL are losers in the Sensex.

Intraday Indian Rupee Slips 13 Paise

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The Indian rupee opened lower by 13 paise at 67.21 per dollar on Tuesday versus 67.08 Friday. 

"The USD-INR pair continues to gain from recent lows on the back of improvement in risk sentiment, with oil and commodity prices moving higher, coupled with overall dollar weakness."

BSNL, MTNL Revenue Growth lesser Than Private Telcos

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Rise in revenues of BSNL and MTNL lag those of private players because of less aggressive market skills, legacy manpower and delay in augmentation of mobile network, Telecom Minister Ravi Shankar Prasad said. 

The minister said both the state-run firms are taking several steps to enhance revenues. 

BSNL revenue increased by 2.32 percent in 2014-15 to Rs 28,645 crore whereas MTNL witnessed an increase of 0.90 percent to Rs 3,821 crore for the same period. 

The revenue of BSNL stood at Rs 27,996 crore in 2013-14 while that of MTNL was Rs 3,787 crore.

Today Indian Stock Market Update--Nifty opens above 7400

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 The market extended rally on Thursday with 

 

 

 The Sensex rising 183.31 points or 0.76 percent to 24426.29 

 

 

 and The Nifty climbing 52.40 points or 0.71 percent to 7421.25.

Jewellers to go on 3-day Pan-India Strike From Tomorrow

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Jewellers across the country have decided to go on a three-day strike from tomorrow to protest the proposed re-imposition of 1 per cent excise duty and mandatory PAN cards for any transactions of Rs 2 lakh and above, an industry grouping today said.

 "We had a meeting with our members as well as with other associations under our network. We have collectively decided to go on 3-day strike from tomorrow. 

More than 300 associations, including manufacturers, retainers, artisans among others across the country will participate in the stir," All India Gems and Jewellery Trade Federation (GJF) Chairman Sreedhar G V told PTI here.

Nifty opens near 7350

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The Sensex is up 397.05 points or 1.7 percent at 24176.40, 

 

and the Nifty up 116.25 points or 1.6 percent at 7338.55. 

 

About 753 shares have advanced, 69 shares declined, and 23 shares are unchanged.

Asia Higher With Nikkei Up 2.6%

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Asia markets were higher in morning trade on Wednesday, taking early cues from overnight gains in Europe and US.

 

The Japanese benchmark index, Nikkei 225, traded up 2.58 percent, with the yen hovering at the 113 handle against the dollar, after falling overnight. 

 

The dollar/yen pair traded at 113.90 as of 8.49 a.m. HK/SIN time. Across the Korean Strait, the Kospi, which was off Tuesday for a public holiday, traded up 1.45 percent.

Indian ADRs: HDFC Bank Gains 3%, Tata Motors Rises

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 Indian ADRs ended higher on Tuesday. In the IT space, Infosys was up 0.60 percent at USD 17.42 and Wipro added 0.37 percent at USD 11.55.

 

 In the banking space, ICICI Bank added 0.45 percent at USD 6.12 and HDFC Bank gained 2.88 percent at USD 55.70. 

In the other sectors, Tata Motors was up 1.50 percent at USD 23.73 and Dr Reddy's Laboratories rose 0.67 percent at USD 44.65.

Live Market Updates: Sensex surges over 400 pts

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The Sensex is up 415.64 points or 1.8 percent at 23417.64 

and the Nifty is up 125.65 points or 1.8 percent at 7112.70.

 About 1035 shares have advanced, 259 shares declined, and 44 shares are unchanged.

Rupee gains 17 paise

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The Indian rupee gained 17 paise in the early trade on Tuesday. It has opened at 68.26 per dollar versus 68.43 Monday. 


"The fiscally prudent Budget and expectations of further monetary easing by Reserve Bank of India (RBI) helped both currency and bond markets."

Indian ADRs: Tata Motors slips, ICICI Bank, HDFC Bank up

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Indian ADRs ended mixed on Monday. In the IT space, Infosys was down 0.07 percent at USD 16.82 and Wipro shed 0.12 percent at USD 11.18.

 

 In the banking space, ICICI Bank added 0.36 percent at USD 5.67 and HDFC Bank gained 0.24 percent at USD 52.82.

 

 In the other sectors, Tata Motors slipped 0.12 percent at USD 22.23 and Dr Reddy's Laboratories rose 0.73 percent at USD 43.98.

S&P 500 Slides Below Closely Watched Threshold

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Wall Street ended lower on Monday, falling out of lockstep with oil prices as energy and healthcare shares lost ground. 

 

US indexes gave up early gains despite a 3 percent rally in US oil prices. Stocks and oil have been strongly correlated in recent months as crude prices tanked to decade lows, and their movements in opposite directions during the session was notable to investors.

Stocks That Market will Focus as Jaitley Makes Budget Speech

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 As Finance Minister Arun Jaitley presents Union Budget today, the market will focus on credibility of numbers. Investors will be keen to know if the govt deviates from the fiscal consolidation roadmap in order to boost growth. 

 

The other big fear the market has is the possible extension of the long term capital gains tax tenure from 1 to 3 years or the possibility of reintroduction of a tax itself. 

 

This month, Indian market is among worst performing big markets this month. In dollar terms, India is worst performing market this month.

Indian ADRs: HDFC Bank, Tata Motors gain; Dr Reddy's Labs slips

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Indian ADRs ended mostly higher on Friday. In the banking space, ICICI Bank was up 0.13 percent at USD 5.31 and HDFC Bank added 0.8 percent at USD 52.58.

 In the IT space, Infosys was   marginally up 0.02 percent at USD 16.89 and Wipro was down 0.04 percent at USD 11.30. 

 

In the other sectors, Tata Motors gained 0.06 percent at USD 22.35 and Dr Reddy's Laboratories fell 0.34 percent at USD 43.25.

Railway Budget Key Updates

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· Railway Minister : Rs.50 crore to be provided for start-ups by railway employees

· No mention of passenger fares, freight rates

· Railway Minister : Will evolve models to determine revenue potential of at least 20 stations in next 3 months

· Railway Minister : Circuit trains to connect important pilgrim centres

· Railway Minister : First phase of new Kolkata Metro to be completed by 2018

· Railway Minister : To install Hi-tech centralised Network Of 20,000 screens On 2000 stations

· Railway Minister : Mumbai needs a robust transport system - two elevated suburban corridors between Churchgate and Virar, CSTM and Panvel

· Railway Minister : Introduce Antyodaya Express, superfast train for long routes

· Railway Minister : 17,000 Bio-toilets in Trains and additional toilets at 475 stations by FY16-end

· Railway Minister : We will introduce sub quota of 33% to women in ticket reservation

· Railway Minister : A new train between Varanasi and Delhi, Mahamana Express with modern refurbished coaches

· Railway Minister : To commission wifi service at 100 stations this year. 400 stations to get wifi facility in the next two years

· Railway Minister : 50 percent more outlay for railway electricificaiton

· Railway Minister : Expect commissioning of 2500 km of broadguage line, 30% higher than last year

· Railway Minister : This is the Budget that reflects aspiration of common citizens

· Railway Minister : Expect to generate revenue of Rs 1,84,820 crore

Today Indian Market Open Flat

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The market is still struggling as the 50-share index breached 7000 intraday. 

The Nifty is down 5.80 points at 7012.90

 and the Sensex is down 8.75 points at 23080.18.

Bulls Chalk One up After late-Day Surge on Wall Street

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US stocks mounted a late-session rally to close higher on Wednesday after an increase in oil prices helped reduce investors' fears about banks' vulnerability to energy companies struggling to pay their debts. Nine of the 10 major S&P sectors rose, with the materials index up 0.99 percent. 

 

The S&P energy sector gained 0.9 percent, trimming its loss in 2016 to 27 percent after US crude futures settled nearly 1 percent higher.

Sebi Bans Win Realcon From Capital Markets

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Sebi barred Win Realcon and its directors from the capital markets for raising funds from investors, without complying with public issue norms. 

The Securities and Exchange Board of India (Sebi) found that Win Realcon had raised Rs 1.18 crore through issuance of Redeemable Preference Shares (RPS) to more than 700 investors between 2011-12 and 2012-13.

 Since the shares were issued by the firm to more than 50 people each, it qualified as a public issue that requires compulsory listing on the recognised stock exchange. It was also required to file a prospectus, among other things, which it failed to do.

Indian ADRs: Tata Motors, Dr Reddy's Lab, Infosys up

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Indian ADRs ended higher on Monday. In the banking space, ICICI Bank was up 0.07 percent at USD 5.72 and HDFC Bank gained 0.61 percent at USD 55.31. 

In the IT space, Infosys added 0.50 percent at USD 16.89 and Wipro was down 0.07 percent at USD 11.55. 

In the other sectors, Tata Motors gained 0.78 percent at USD 23.96 and Dr Reddy's Laboratories rose 0.75 percent at USD 45.33.

Rupee opens marginally lower at 68.65 per dollar

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The Indian rupee opened marginally lower by 5 paise at 68.65 per dollar versus 68.60 Monday.

"Strong rally in commodities resulted in strong rally in equities and commodity currencies, while some stabilisation in Europe and China also lent some support."