MCX gets Sebi nod for gold options.

The Multi Commodity Exchange of India Ltd (MCX) has received the regulator Sebi’s approval for the launch of gold option contracts with 1 kg gold futures the underlying commodity.

The exchange said in its circular that the date for launching options in gold would be announced separately but traders expect it to start trading around Diwali time. 

The regulator has allowed only one commodity option per exchange on a pilot basis. Non-agri commodities want to have an average turnover of Rs. 1,000 crore and the commodity needs to be in the top five list in terms of daily turnover.

Market settles with modest gains amid volatility, Nifty ends at 10,070

Trading for the weekend finished on a positive note with the indices settling with modest gains after a volatile and range bound session of trade. The BSE Sensex gained 87.53 points or 0.27% at 32,325.41, while the NSE Nifty index rose 52.75 points or 0.53% at 10,066.40.  Caution continued in global stocks ahead of US nonfarm payroll data for July, which falls presentation later in the global day.
The BSE MidCap rose 0.66 percent outperforming the Sensex, whereas the BSE SmallCap index gained 0.1 percent, underperforming the Sensex.  About 1385 shares declined and 1,200 shares advanced and a total of 173 shares were unchanged on BSE.
Buzzing stocks are - IOC surged 9%, overtaking ICICI Bank, Kotak Mahindra Bank, Bharti Airtel and Bharti Airtel.  Mahindra & Mahindra declined 0.2 percent after its net profit fell 9 percent to Rs 859 crore on 3.74 percent rise in gross revenue to Rs 23,212 crore in first quarter June 2017 y-o-y.

RBI rate cut fails to cheer markets, Nifty ends below 10,100

The Sensex and Nifty ended lower after the RBI cut repo rate by 25 bps to 6%, the lowest since November 2010. Both the Indices had hit their highs of 32686 and 10137, respectively at open.   The repo rate cut came after a fall in food prices sent June consumer inflation to a more than 5-year low of 1.54 percent.
On Closing, the BSE Sensex declined 98.43 points at 32,476.74, while the Nifty50 index lost 33.15 points at 10,081.50.  The breadth, showing the overall vigor of the market was negative. On the BSE, 1595 shares declined and 1063 shares advanced and a  total of 175 shares were unchanged.
Ambuja Cements, NTPC and Adani Ports gained the most on Sensex and Nifty, while Indiabulls Housing, BHEL, Dr Reddy’s were the top losers.
Overseas, European markets edged lower since energy shares pulled back after a drop in oil prices, while Asian markets ended mixed after Asian technology stocks hit 17-year highs.

Nifty above 9250, Sensex Flat; RBI Maintains Status Quo on Repo Rate

The benchmark indices pared losses on Thursday after the RBI decided to keep the repo rate unchanged at 6.25% in proportion to the market expectations. The Sensex was down 46.90 points at 29,927.34, while the Nifty was down 13.30 points at 9,251.85 on closing. BSE Midcap  gained 0.15%, while BSE Smallcap  was down 0.23%. Market breadth showed gains with 1,476 advances against 1,403 declines on the BSE while a total of 140 stocks remained unchanged.

SBI, ITC and Hindalco were among the top losers, while BHEL, Tata Steel and Zee Entertainment were the top gainers on both BSE and NSE.

Nifty Bank index fell nearly 0.55%. The bank index has grown about 19 % percent this year. Jindal Steel and Power gained nearly 5.22% after posting a 12.3% rise in row, in quarterly consolidated steel production.

Asian markets finished on mixed note The Shanghai Composite gained 0.33%, while the Nikkei 225 led the Hang Seng lesser, falling 1.40% and 0.52% respectively. The Indian rupee was trading at Rs 65.04 against the US dollar in the afternoon session, while the Oil prices were trading at US dollar 51.18.

Nifty closes at 9274, Sensex closes at 29,974 up 64 points from previous close

The benchmark indices Nifty closed at 9274.24, up by 27 points. BSE Sensex closed at 29,974.24 levels, up by 64.02 points with just one left for RBI policy announcement. The BSE Midcap rose 0.46% at 14,256 and BSE Smallcap indices rose 1% at 14,785.

The overall market breadth was positive. There were 1965 advances against a 956 declines and a total of 136 shares were unchanged.

Maruti Suzuki and Adani Ports rose above 4 percent each and topped the majors, whereas, HDFC and HCL Tech were the top losers.

Shankara Building Products shares listed at Rs 555 on the NSE, a 21% premium against its issue price of Rs. 460. The stock extended intraday gains to settle 39% higher at Rs. 638 against its Initial Public Offering. 

European and Asian stocks were higher. U.S stock markets closed with small gains yesterday ahead of a key meeting between President Trump and Chinese President Xi Jinping on 6 & 7 April 2017.

Sensex eases as April series eyes negative note; RIL top gainer

The benchmark Index Nifty-50 pared all its initial losses to settle the first day of the April Future & Option series flat as investors booked profits in recent outperformers. On closing Friday, the BSE Sensex ended at 29,620, down 27 points, while the broader Nifty50 ended flat unchanged at 9,173.
The broader market outshined with the BSE Midcap going up 0.8% and the BSE Smallcap going up 0.7% and hit their fresh lifetime highs. On BSE, about  1620 shares rose and 1121 shares fell while  232 shares were unchanged.
Reliance Industries Ltd, SBI, HCL Technologies and Adani Ports from the Nifty50 index  hit their respective 52-week highs on the NSE. Reliance was the top gainer both on the Sensex & Nifty ending 4% higher at Rs 1320. Reliance’s telecom venture Reliance Jio’s  prime membership offer is set to expire today.

Nifty below 9,050; Shares fall down on weak global cues

Trading on Monday began on a downbeat note as domestic shares reflected weakness in other global stock markets. The BSE Sensex, fell 187.96 points or 0.64% to 29,233.44. The NSE Nifty50 index fell 62.80 points or 0.69% to 9,045.20, dragged by fall in IT and pharma stocks on strong rupee sentiment. Sentiment also affected  after private weather forecaster Skymet issued a statement today forecasting India's monsoon in 2017 is likely to remain below normal at 95% of the long period average of 887 mm for the four-month period from June - September.
The BSE Mid-Cap index fell 0.27% while the BSE Small-Cap index fell 0.06%.  On BSE, 1630 shares declined and 1158 shares advanced and a total of 231 shares were unchanged. Reliance Industries Ltd fell 3% after it was caught on fraudulence in taking a short trading position at the time of selling a stake in a unit in 2007. 
Asian stocks declined as investors were worried about the Trump's administration's inability to push through its policy initiatives.
Finance Minister Arun Jaitley today tabled supplementary GST legislations in Parliament amid protests from the members of the Congress Party.