Thursday 6 April 2017

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

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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.

Wednesday 5 April 2017

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

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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.

Monday 3 April 2017

Nifty closes over 9200 for first time ever, Sensex closes 90 points

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Indian market registered modest gains in the first trading session of the week. The BSE Sensex, advanced 289 points or 0.98% at 29,910.22, The NSE-Nifty-50 index rose 64 points or 0.7% at 9,237.85. BSE Mid-cap Index closed up 0.6% at 14,189 while, BSE-Small-cap Index closed up 1.2% at 14,620. Reliance, L&T, ICICI, and HDFC were the top contributors to the Nifty gains. About 1244 advanced, 428  shares declined  and 269 shares  unchanged on NSE, reflecting bullish sentiment floating in the market.  L&T was the top Nifty gainer whereas, Bharti Airtel was the top Nifty loser today.  Bharti Airtel closed at Rs 342 p
er share up by Rs 7 and Infosys closed at Rs 1,009 per share up by Rs 11.

Indian rupee strengthened to its highest in nearly 1 ½ years and bonds rallied.  Foreign Portfolio Investors (FPIs) pumped in a record Rs. 57,000 crore in Indian capital markets in the month of March, the biggest monthly total since 2002, as per stocks depository services provider NSDL.

NSE index rose about 0.51% to a record high of 9,220.65 points, exceeding its previous landmark of 9,218.40 points hit on 17 March. The bonds have also rallied, reflecting the benchmark ten-year bond yield down near 14 bps to 6.55%.

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