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RBI policy will lead Indian Markets during coming week: Epic Research

RBI policy will lead Indian Markets during coming week: Epic Research

Indian Markets have been buoyant during the week, helped by strength in the global markets. Indian maA Fresh new all-time in benchmark indices with Nifty hitting 10283 while Sensex breached 37K mark to hit 37368.62. Backed by buying in broader indices, positive global cues, and strong rollover numbers indices managed to close near the day’s high. Heavyweights lead the rally again while sectorial indices with higher weight like Pvt. banks, Energy, FMCG, and Metals were shining 1% - 2.5%.

Indian Stock Market Outlook by Epic Research

Nifty ends the week on flat basis making a Doji pattern as indecisiveness near all-time highs mounted on the back of mixed global cues. Profit booking was seen and consolidation in a small range of 10930 to 11080 was observed.

The week for Nifty was sideways due to mixed cues from global markets as despite positive momentum in leading indices we have seen some profit booking due to higher inflation numbers. This also pointed to concerns of another rate hike by the RBI in its August meet. The Trade war concerns further mounted as a threat of it escalating further between US and China may push commodity prices higher. This would lead to higher pricing of commodities such as Crude. No confidence motion in the parliament, higher inflation numbers also weighed on investors.

Indian Stocks Register Impressive Gains as Inflation Remains Low

Indian Stocks Register Impressive Gains as Inflation Remains Low

Indian stock markets registered impressive gains as the global stock markets improved last week and Indian market was lagging behind. Indian stocks opened strong on Monday and selling pressure was witnessed at higher levels. However, towards the end of the trading session, markets registered strong gains and BSE Sensex closed with gains over 600 points. NSE Nifty closed above 10,400. Market analysts consider 10,300 as an important support level for Nifty and the market crossed this level during the early session.

Indian Stock Market Remains Low While Global Markets Recover

Indian Stock Market Remains Low While Global Markets Recover

Indian stock market remained range-bound during the past week even as stocks managed to recover quite smartly across the globe. Indian market also remained low as public sector banks remained on investor’s selling list. PNB suffered the most during the recent banking scam involving Nirav Modi and Gitanjali Gems.

Dow Jones Industrial Average staged a smart recovery over the week. While the FED meeting led to decline in Dow Jones, the U.S. markets recovered a day after Federal Reserve meeting. Dow Jones looks strong at the moment and with minor correction that started in February, markets are looking forward to gain further in upcoming weeks.

Indian Stock Market Outlook by SAMCO

Indian Stock Market Outlook by SAMCO

Indian Stocks remained subdued even as global markets recovered smartly. The banking sector turned the sentiment negative. During most of the trading sessions, stocks witnessed gains but by the end of the session, majority of gains were wiped out. Selling pressure was usually witnessed at higher levels.

Below is market view and outlook by SAMCO Securities....

Market crawled up during the week but gave up the gains by the close of the week, inspite of positive global sentiments, principally due to home grown PSU banking mess being denuded by Punjab National Bank. Generally such mess comes out during bottoming cycle, which PSU banks are passing through. Worst seems to have been discounted in the PSU banks but positive triggers are awaited.

Indian Stock Market Outlook by Epic Research

Indian Market Outlook by Epic Research

Indian stock market declined last week despite strong recovery in the U.S. markets. Indian investors continued offloading their holding at higher levels, leading to selling pressure on majority of stocks. While blue-chip companies declined less compared to mid-caps, there were select stocks that managed to recover from their recent lows. If the momentum in the U.S. market continues, Indian stocks should see recovery.

Public Sector Banks suffered after a fraud at PNB was reported last week. PNB lost ground as investors dumped the stock. Other stocks in banking sector also suffered as some of the banks reported higher NPA and slippages in the quarterly results.

Epic Research team has offered its view for the Indian markets below...

Indian Stocks Touch New High, Outlook for Next Week

Indian Stocks Touch New High, Outlook for Next Week

Indian stocks touched new all-time high this week. The markets worldwide have witnessed strong gains, mainly led by the U.S. stock markets. Investors are upbeat and strong economic signals have improved confidence of funds managers about future market returns. Indian stocks touched new high and markets were trading strong with small declines in select counters.

Sensex surges over 200 points; Nifty reclaims 8,900 mark

Sensex surges over 200 points; Nifty reclaims 8,900 mark

Mumbai: A benchmark index of Indian equities markets, the 30-scrip Sensitive Index (Sensex), Saturday surged 213.71 points or 0.73 percent in the early session ahead of the Union Budget.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading 56.85 points or 0.64 percent up at 8,901.45 points.

The Sensex of the S&P Bombay Stock Exchange (BSE), which opened at 29,411.33 points, was trading at 29,433.83 points (at 9.15 a. m.) in the early session, up 213.71 points or 0.73 percent from the previous day`s close at
29,220.12 points.

The Sensex touched a high of 29,437.59 points and a low of 29,406.10 points in the trade so far.

All the sectors were trading in green. The rally was led by banking, capital goods and consumer durables sectors.--PTI

'India has great chance to become a manufacturing hub': BSE CEO

Ashish Chauhan

Mumbai, Feb. 27 - The Managing Director and Chief Executive Officer ( CEO) of the Bombay Stock Exchange ( BSE), Ashish Chauhan , on Friday said India has a great chance of becoming a manufacturing hub.

'Make in India' is the main plank and somewhere on the line we have lost the bus. Over the last thirty five years when China started coming up, we lost the bus on the manufacturing side and we made up partially through the services framework that we created. Without too much of thinking the services sector came into India, BPOs and other, which were the newer world and the older manufacturing came to China," Chauhan told ANI here.

SBI arm for higher fiscal deficit target to boost investment

SBI arm for higher fiscal deficit target to boost investment

Mumbai: Analysts and economists at the nation's largest lender SBI today joined the call for stretching the fiscal deficit target by a few notches so that the government can boost capex without impacting the fiscal consolidation process.

"We believe, the government must step up capital expenditure meaningfully to stimulate investment. We firmly believe fiscal deficit for 2015-16 should be set higher at 3.8 per cent of GDP, up from 3.6 per cent envisaged in the current Budget. This is unlikely to impact fiscal consolidation," the economic research arm of SBI said in a note.

Rupee gains 15 paise to 62.05 against dollar

Rupee gains 15 paise to 62.05 against dollar

Mumbai: The rupee strengthened by 15 paise to 62.05 against the US dollar in early trade Wednesday at the Interbank Foreign Exchange on increased foreign capital inflows.

Forex dealers said besides the dollar's weakness against other currencies overseas, a higher opening in domestic stock market, supported the rupee.

The rupee had ended 11 paise higher at 62.20 against the US currency in yesterday's trade on increased selling of the American unit.

Meanwhile, the benchmark BSE Sensex rose 228.67 points, or 0.79 percent, at 29,233.33 in early trade.--PTI

Sensex rises 228 points on global cues, Budget hopes

Sensex rises 228 points on global cues, Budget hopes

Mumbai: The benchmark BSE Sensex rose over 228 points in early trade today amid a firming global trend and hopes of a growth-oriented Budget.

Further, covering-up of short positions by speculators ahead of tomorrow's monthly expiry in the derivatives segment, supported the upside.

Rising for the second straight session, the 30-share barometer spurted by 228.67 points, or 0.79 percent, to 29,233.33.

The index had gained 29.55 points in yesterday's session.

All sectoral indices, led by oil & gas, metal, realty and banking were trading in positive zone with gains up to 1.03 percent.

Similarly, the National Stock Exchange index Nifty was trading above the 8,800-mark by gaining 60.10 points, or 0.69 percent, to 8,822.20.

Sensex trading over 29,000-mark ahead of monthly derivatives expiry

Sensex trading over 29,000-mark ahead of monthly derivatives expiry

Mumbai: The benchmark BSE Sensex was trading above the 29,000-mark by rising over 79 points in early trade on Tuesday as participants made selective buying ahead of monthly expiry in the derivatives segment on Thursday and the Union Budget on Saturday.

The 30-share barometer gained 79.71 points, or 0.27 percent, to 29,054.82. The index had lost 487.16 points in the previous two sessions.

Sectoral indices led by realty, FMCG, consumer durables, capital goods and healthcare were trading in positive zone with gains up to 1.06 percent.

Similarly, the wide-based National Stock Exchange Nifty index edged higher by 13.10 points, or 0.15 percent, to 8,768.05.

No swine flu death reported in Maharashtra on Monday

No swine flu death reported in Maharashtra on Monday

Mumbai: No death due to swine flu was reported in Maharashtra Monday, a health official said.

The number of swine flu related deaths in the state stands at 99, the official said.

The number of cases is 1,013 and 589 patients were discharged, while 325 patients are still in hospitals, he said.

"Seven deaths were reported yesterday, one each from Thane, Raigad, Pune, Nashik districts and three from Nagpur," Public Health Minister Deepak Sawant, had told PTI.

As many as 39 people infected by the H1N1 virus are on ventilator, the official said.

On Saturday, Commissioner of the Food and Drug Administration Harshadeep Kamble had said that both government and semi-government hospitals in Maharashtra have sufficient stock of swine flu drugs which are available free of cost.--PTI

Disinvestment in LIC, Air India, BSNL will unlock lakhs of crores of rupees: Deepak Parekh

Deepak Parekh

Mumbai - Pitching for disinvestment in public sector behemoths like LIC, Air India and BSNL, top industry leader Deepak Parekh has said it can unlock huge funds worth "lakhs of crores of rupees" and shares should be given to retail investors without depending on the overseas entities.

However, one of the major requirements for such large- scale disinvestments is a government thinking on those lines, as lack of political will and union pressure have been halting such proposals for a long time including during the tenure of the previous UPA government, he said.

Giving examples from during the UPA regime, Parekh said 'he has been part of many important government panels,' including those on BSNL and Indian Railways, but nothing moved on the suggestions made by those committees.

IBA agrees to meet bank unions today to avert strike

All-India Bank Employees Union vice-president Vishwas Utagi

Mumbai - The Indian Banks Association has decided to hold further talks with leaders of public sector bank unions who have given a call for four-day nation-wide strike from February 25.

"The IBA has invited us for talks on Monday in Mumbai and we have agreed to participate in the talks," United Forum of Bank Unions (Maharashtra) and All-India Bank Employees Union vice-president Vishwas Utagi said.

The unions have threatened the strike to press wage-hike demand. This will be their fifth strike this fiscal.

IBA has offered a 13 percent hike which will put a burden of Rs 4,095 crore on the banks, against the unions' demand of 19.5 percent hike which would increase the salary bill by Rs 10,000 crore per annum.

SpiceJet shares soar 17% on CCI nod for capital infusion plan

SpiceJet shares soar 17% on CCI nod for capital infusion plan

Mumbai: Shares of SpiceJet surged more than 17 percent in morning trade today after fair trade watchdog CCI approved original promoter Ajay Singh's plan to acquire controlling stake in the carrier.

Under the revival plan, Singh would infuse Rs 1,500 crore into the carrier after acquiring over 58 per cent stake from outgoing promoters, Marans.

The scrip, listed on the BSE, jumped 17.79 per cent to Rs 23.50. It had opened at Rs 22.80 and touched an intra-day high of Rs 23.50.

At the current price, the carrier has a market valuation of more than Rs 1,400 crore.

Shares of the company had closed at Rs 19.95 on Thursday.

In a regulatory filing today, SpiceJet said Competition Commission of India (CCI) has approved Singh's proposal to acquire majority stake in the carrier.

Rupee gains 14 paise against dollar in early trade

Rupee gains 14 paise against dollar in early trade

Mumbai: The rupee recovered by 14 paise at 62.20 against the US dollar in early trade today at the Interbank Foreign Exchange market on fresh selling of the American currency by exporters.

Forex dealers said though selling of the US currency by exporters and banks supported the rupee but the dollar's strength against other currencies overseas and a lower opening in domestic equity markets, limited the rise.

The rupee had lost 18 paise against the American currency on Wednesday due to fresh dollar demand from banks and importers.

Forex markets remained closed yesterday on account of 'Chatrapathi Shivaji Maharaj Jayanti'. Meanwhile, the benchmark BSE Sensex fell by 267.52 points, or 0.91 per cent, to 29,194.75 in early trade.--PTI

Sensex rises 114 points; Nifty regains 8,900-mark

Sensex rises 114 points; Nifty regains 8,900-mark

Mumbai: Continuing its rising streak for the seventh straight session, the BSE Sensex rose 114 points and the NSE Nifty regained the 8,900-level in early trade Thursday as participants indulged in enlarging positions ahead of Budget.

The 30-share barometer spurted by 114.65 points, or 0.39 percent, to trade at 29,434.91 with consumer durables, realty, auto, oil & gas and banking sector stocks, leading the rise.

The gauge had rallied by 1,092.84 points in previous six sessions.

Similarly, the National Stock Exchange index Nifty regained the 8,900-mark after three weeks by rising 32.60 points, or 0.36 percent, to 8,901.70.

Reliance MF gets regulatory approvals for Nippon deal

Reliance MF gets regulatory approvals for Nippon deal

Mumbai - Leading mutual fund house Reliance Capital Asset Management (RCAM) today said it has completed the regulatory clearance process for sale of additional stake to Japan's Nippon Life, following approvals of CCI and EPFO.

The deal is now expected to close by next week.

Nippon Life Insurance, which manages USD 500 billion in assets and is among the largest in the world, agreed in November 2014 to increase its stake in RCAM from existing 26 per cent to 49 per cent in multiple tranches, subject to regulatory approvals.

The company has now received approvals from Competition Commission of India (CCI) and Employee's Provident Fund Organisation (EPFO), thus completing the regulatory approval process for this transaction.




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