Thursday : Mid-Session Stock Market Commentary

Key benchmark indices trimmed initial gains triggered by positive Asian stocks. The S&P BSE Sensex was up 70.60 points or 0.29%, off 65.97 points from the day’s high and up 20.84 points from the day’s low. The market breadth, indicating the overall health of the market, was strong. Jindal Steel & Power (JSPL) rose on the company’s fund raising plans.Asian stocks edged higher on Thursday after Federal Reserve meeting minutes showed policy makers see a muted risk of inflation from continued US stimulus and a China manufacturing gauge rose to a five-month high in May.Foreign institutional investors (FIIs) sold shares worth a net Rs 266.22 crore on Wednesday, 21 May 2014, as per provisional data from the stock exchanges.At 9:25 IST, the S&P BSE Sensex was up 70.60 points or 0.29% to 24,368.62. The index gained 136.57 points at the day’s high of 24,434.59 in early trade. The index rose 49.76 points at the day’s low of 24,347.78 in early trade.

The CNX Nifty was up 14.15 points or 0.2% to 7,267.05. The index hit a high of 7,298.35 in intraday trade. The index hit a low of 7,258.15 in intraday trade.

The market breadth, indicating the overall health of the market, was strong. On BSE, 1,265 shares gained and 278 shares fell. A total of 36 shares were unchanged.

The BSE Mid-Cap index rose 74.13 points or 0.89% to 8,416.49. The BSE Small-Cap index rose 115.17 points or 1.31% to 8,873.45. Both these indices outperformed the Sensex.

The total turnover on BSE amounted to Rs 491 crore by 09:25 IST.

Among the 30-share Sensex pack, 22 stocks gained and rest of them declined.

Maruti Suzuki India (up 4.21%), Bajaj Auto (up 2.75%) and Coal India (up 2.49%) edged higher from the Sensex pack.

Bharti Airtel (down 1.38%), Infosys (down 1.05%) and HDFC Bank (down 0.78%) edged lower from the Sensex pack.

Jindal Steel & Power (JSPL) rose 1.2%. JSPL is seeking approval of shareholders by way of postal ballot for increasing the borrowing powers of the company to Rs 50000 crore, creation of security on the assets of the company in favour of the lenders and issuance of non convertible debentures on private placement basis up to Rs 10000 crore. The firm is also seeking approval for giving of loans/ guarantees and providing of securities and making of investments in securities up to Rs 20000 crore.

Hindalco Industries shed 0.06%. Hindalco Industries US subsidiary, Novelis Inc has reportedly decided to pay a dividend of $250 million (Rs 1470 crore) to Hindalco this year. Hindalco will reportedly utilise the fund in reducing its debt.

The Federal Open Market Committee (FOMC) next undertakes monetary policy review at a two-day meeting on 17-18 June 2014. The Fed on 30 April 2014 said after a monetary policy review that it will keep the benchmark interest-rate target at almost zero for a considerable time after its bond-buying program ends. The FOMC also reduced monthly debt purchases to $45 billion, its fourth straight $10 billion cut, and said further reductions are likely in measured steps if the economy continues to improve.

Powered by Capital Market – Live News

Monday : Mid-Session Stock Market Commentary

Key benchmark indices further trimmed intraday gains to hit fresh intraday low in morning trade. The S&P BSE Sensex was up 98.96 points or 0.41%, off 206.40 points from the day’s high and up 0.15 points from the day’s low. The market breadth, indicating the overall health of the market, was strong.

Index heavyweight and cigarette major ITC reversed initial gain. IT stocks dropped after the rupee rose to its strongest levels in 11 months against the dollar today, 19 May 2014.

Key benchmark indices trimmed initial gains triggered by data showing that foreign funds made substantial purchases of Indian stocks on Friday, 16 May 2014. Key benchmark indices further trimmed intraday gains to hit fresh intraday low in morning trade.

The market sentiment was boosted by data showing that foreign funds made substantial purchases of Indian stocks on Friday, 16 May 2014. Foreign institutional investors (FIIs) bought shares worth a net Rs 3634.82 crore on Friday, 16 May 2014, as per provisional data from the stock exchanges.

At 10:15 IST, the S&P BSE Sensex was up 98.96 points or 0.41% to 24,220.70. The index gained 305.36 points at the day’s high of 24,427.10 in early trade. The index rose 98.81 points at the day’s low of 24,220.55 in morning trade.

The CNX Nifty was up 23.60 points or 0.33% to 7,226.60. The index hit a high of 7,290.35 in intraday trade. The index hit a low of 7,225.20 in intraday trade.

The market breadth, indicating the overall health of the market, was strong. On BSE, 1,422 shares gained and 547 shares fell. A total of 80 shares were unchanged.

The BSE Mid-Cap index rose 146.67 points or 1.89% to 7,912.39 and the BSE Small-Cap index rose 198.20 points or 2.51% to 8,083.96. Both these indices outperformed the Sensex.

The total turnover on BSE amounted to Rs 1185 crore by 10:15 IST on BSE compared to Rs 346 crore by 09:25 IST.

Among the 30-share Sensex pack, 21 stocks gained and rest of them declined.

Coal India (up 6.76%), Tata Power Company (up 5.96%) and Sesa Sterlite (up 3.88%) edged higher from the Sensex pack.

Index heavyweight and cigarette major ITC lost 1.55% to Rs 352, with the stock reversing initial gain. The stock hit high of Rs 360.10 and low of Rs 350.40 so far during the day.

ONGC surged 3.87% to Rs 399.85. ONGC on Sunday, 18 May 2014 said that the company has scaled its highest-ever market capitalization of Rs 3.56 trillion in intra-day trade on 16 May 2014, indicating its hidden potential to its investors. In intra-day trade on 16 May 2014, ONGC scrip logged a new peak of Rs 416.35 (on National Stock Exchange), taking its market capitalization to highest ever value. However, with a 1.19% gain the scrip closed at Rs. 384.15 in the day.

During the first 2 months of this current fiscal year ending 31 March 2015, ONGC scrip has gained 20.54% on NSE, vis-a-vis Nifty’s 7.44% growth during the same period. Thus, ONGC has outperformed the broader index Nifty by 13.10%.

ONGC’s market capitalisation is 51% higher than the next highest valuable company among the listed CPSEs. Since listing in July 1995, the scrip of India’s national flagship explorer ONGC has created enormous wealth for its shareholders. After being promoted by the Govt. of India with a capital of Rs 343 crore over 22 years during 1959 and 1981, the Maharatna oil major has created unprecedented wealth for its owners, the billion plus Indian citizens. The world’s number 3 Exploration & Production company (Platts 2013) is also the highest profit»making Indian company for the last quite a few fiscals. ONGC remains committed to create more value for all its stakeholders, the company said in a press release.

IT stocks dropped after the rupee rose to its strongest levels in 11 months against the dollar today, 19 May 2014. A firm rupee adversely affects operating profit margins of IT firms as the sector derives a lion’s share of revenue from exports.

Infosys (down 3.87%), Wipro (down 4.16%), TCS (down 4.01%), HCL Technologies (down 4.14%), Hexaware Technologies (down 2.33%), Tech Mahindra (down 1.69%) and Polaris Software Technology (down 2.49%) edged lower.

Oracle Financial Services Software lost 1.47%. On a consolidated basis, Oracle Financial Services Software’s net profit rose 10% to Rs 311 crore on 2% increase in revenue to Rs 895 crore in Q4 March 2014 over Q4 March 2013. The result was announced after market hours on Friday, 16 May 2014.

Consolidated net profit rose 26% to Rs 1359 crore on 8% rise in revenue to Rs 3741 crore in the year ended March 2014 (FY 2014) over the year ended March 2013 (FY 2013). Operating income rose 15% to Rs 1328 crore in FY 2014 over FY 2013.

The revenue and operating income from the products business was Rs 2900 crore, up 11% and Rs 1256 crore, up 18% respectively, while the revenue and operating income from the services business was Rs 740 crore, down 4% and Rs 152 crores, down 4%, respectively, in FY 2014 over FY 2013, Oracle Financial Services Software said in a statement.

Chet Kamat, managing director and chief executive officer for Oracle Financial Services Software, said, “We signed US$ 14.7 million of new license fees in the quarter; while we have a strong pipeline, new license fees for the year were down 18%. We are investing in the sales and marketing infrastructure and processes to grow our core banking and analytics deal flow.”

Makarand Padalkar, chief financial officer for Oracle Financial Services Software, said, “We posted another solid operating performance with the operating margins for the year at 35%, a 2 percentage point improvement over operating margin in the fiscal year ended March 2013. Our focus on operational excellence has delivered strong operating metrics; the days of sales outstanding at the end of March 2014 were at 61 days as compared to 68 days at the end of March 2013.”

In the foreign exchange market, the rupee rose to its strongest in 11 months against the dollar on expectations of continued robust foreign buying in domestic shares and debt after the Bharatiya Janata Party swept the country’s elections. The partially convertible rupee was hovering at 58.42, compared with its close of 58.79/80 on Friday, 16 May 2014.

Powered by Capital Market – Live News

Stock New: Mid-Session Stock Market Commentary

A bout of volatility was witnessed as key benchmark indices trimmed initial gains in morning trade. The barometer index, the S&P BSE Sensex, was up 27.52 points or 0.12%, off close to 60 points from the day’s high and up about 20 points from the day’s low. The market breadth, indicating the overall health of the market, was positive. Metal and mining stocks rose after latest data showed China’s exports and imports unexpectedly rose in April.

The Sensex edged higher in early trade. A bout of volatility was witnessed as key benchmark indices trimmed initial gains in morning trade.

Asian stocks rose on Thursday, 8 May 2014, after Federal Reserve Chairwoman Janet Yellen said a testimony to US lawmakers on Wednesday, 7 May 2014, that the Federal Reserve will continue to support the US economy.

Foreign institutional investors (FIIs) bought shares worth a net Rs 119.11 crore on Wednesday, 7 May 2014, as per provisional data from the stock exchanges.

At 10:20 IST, the S&P BSE Sensex was up 27.52 points or 0.12% to 22,351.42. The index rose 89.92 points at the day’s high of 22,413.82 in early trade. The index gained 5.49 points at the day’s low of 22,329.39 in morning trade.

The CNX Nifty was up 9.40 points or 0.14% to 6,691.95. The index hit a high of 6,680.85 in intraday trade. The index hit a low of 6,656.05 in intraday trade.

The BSE Mid-Cap index was up 16.87 points or 0.23% to 7,376.95. The BSE Small-Cap index was up 40.12 points or 0.53% to 7,567.11. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was strong. On BSE, 1,098 shares gained and 761 shares fell. A total of 104 shares were unchanged.

Among the 30-share Sensex pack, 20 stocks gained and rest of them fell. Cipla (up 1.96%), Tata Motors (up 1.16%) and Bharti Airtel (up 0.88%) edged higher from the Sensex pack.

Metal and mining stocks rose after latest data showed China’s exports and imports unexpectedly rose in April. China is the World’s largest consumer of copper and aluminum. Sesa Sterlite (up 0.59%), Hindalco Industries (up 2.33%), Hindustan Zinc (up 0.33%), Bhushan Steel (up 0.31%), NMDC (up 0.2%), Steel Authority of India (Sail) (up 0.97%), Tata Steel (up 1.38%), and Hindustan Copper (up 0.53%) gained. JSW Steel (down 0.51%) and National Aluminum Company (down 0.51%) dropped.

Procter & Gamble Hygiene and Health Care jumped 4.93% after net profit rose 55.04% to Rs 80.76 crore on 20.09% rise in net sales to Rs 500.35 crore in Q3 March 2014 over Q3 March 2013. The company announced the result after market hours on Wednesday, 8 May 2014.

Powered by Capital Market – Live News

Stock News: Market Edges Lower Amid Firm Trades

Key benchmark indices edged lower amid initial volatility as weakness in Asian stocks dampened sentiment. The barometer index, the S&P BSE Sensex, was down 12.59 points or 0.06%, up about 25 points from the day’s low and off close to 45 points from the day’s high. The market breadth, indicating the overall health of the market, was positive.

Lupin rose ahead of its Q4 results today, 7 May 2014. Capital goods pivotals also rose.

Asian shares fell on Wednesday as the heightened possibility of Ukraine slipping into civil war dampened risk sentiment.

Foreign institutional investors (FIIs) bought shares worth a net Rs 45.93 crore on Tuesday, 6 May 2014, as per provisional data from the stock exchanges.

At 9:30 IST, the S&P BSE Sensex was down 12.59 points or 0.06% to 22,495.83. The index fell 37.61 points at the day’s low of 22,470.81 in early trade. The index rose 24.40 points at the day’s high of 22,532.82 in early trade.

The CNX Nifty was down 7.80 points or 0.12% to 6,707.50. The index hit a low of 6,703.05 in intraday trade. The index hit a high of 6,718.75 in intraday trade.

The BSE Mid-Cap index was up 20.28 points or 0.28% to 7,390.97. The BSE Small-Cap index was up 18.65 points or 0.25% to 7,551.48. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was positive. On BSE, 530 shares gained and 372 shares fell. A total of 49 shares were unchanged.

Among the 30-share Sensex pack, 18 stocks declined and rest of them rose. Hindalco Industries (down 0.76%), Axis Bank (down 0.72%) and Infosys (down 0.57%) edged lower from the Sensex pack.

Lupin rose 0.78% ahead of its Q4 results today, 7 May 2014.

Capital goods pivotals rose. Bharat Heavy Electricals (Bhel) (up 0.76%) and L&T (up 0.43%) gained.

BPCL rose 1.1% after the company announced after market hours on Tuesday, 6 May 2014 that Bharat PetroResources (BRPL), a wholly owned subsidiary of BPCL advised that Anadarko Mozambique Area 1, the operator of the offshore Area 1 block to the Rovuma Basin, Mozambique, announced on 5 May 2014, in its Q1 2014 results, that successful appraisal drilling activities in the Orca field increased he total estimated recoverable resources in Offshore Area 1 to a range of 50 to 70 plus trillion cubic feet of natural gas. In addition, the consortium continued to advance the Mozambique LNG project by adding incremental non bidding LNG off take agreements.

The consortium members in the block are Anadarko Mozambique Area 1 (26.5% PI), BRPL Ventures Mozambique BV (10% PI), Beas Rovuma Energy Mozambique (10% PI), ONGC Videsh (10% PI), Cove Energy Mozambique Rovuma Offshore (8.5%PI) and Mitsui B&P Mozambique Area 1 (20% PI). The balance 15% PI is with Empressa Nacional de Hidrocarbonetos BP (BNH) the national oil company of Mozambique, who are carried through the exploration phase.

Powered by Capital Market – Live News

Stock Update: Market Trims Intraday Gains

Key benchmark indices trimmed intraday gains in mid-morning trade. The barometer index, the S&P BSE Sensex, was up 78.64 points or 0.35%, off the day’s high and up about 10 points from the day’s low. The market breadth, indicating the overall health of the market, was positive. Indian stocks rose today, 6 May 2014 tracking higher Asian stocks and after firm overnight finish for US stocks. Shares of two-wheeler makers dropped.

The market edged higher in early trade. The Sensex an d the 50-unit CNX Nifty, both, hit their highest level in almost one week. It held firm in morning trade. It trimmed intraday gains in mid-morning trade.

Asian share markets shuffled higher on Tuesday after promising US economic news helped Wall Street to a firmer finish.

The market sentiment was supported by data showing that foreign funds remained net buyers of Indian stocks on Monday, 5 May 2014. Foreign institutional investors (FIIs) bought shares worth a net Rs 279.86 crore on Monday, 5 May 2014, as per provisional data from the stock exchanges.

At 11:20 IST, the S&P BSE Sensex was up 78.64 points or 0.35% to 22,523.76. The index rose 157.59 points at the day’s high of 22,602.71 in early trade, its highest level since 30 April 2014. The index gained 67.11 points at the day’s low of 22,512.23 in early trade.

The CNX Nifty was up 20.85 points or 0.31% to 6,720.20. The index hit a high of 6,743.45 in intraday trade, its highest level since 30 April 2014. The index hit a low of 6,718.05 in intraday trade.

The BSE Mid-Cap index rose 34.25 points or 0.47% to 7,382.31. The BSE Small-Cap index rose 41.28 points or 0.55% to 7,539.37. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was positive. On BSE, 1,210 shares gained and 822 shares fell. A total of 104 shares were unchanged.

Stay tune for more updates.

Powered by Capital Market – Live News

Stock News – Bank stocks edge higher

Key benchmark indices regained strength in early afternoon trade. The barometer index, the S&P BSE Sensex, was up 131.35 points or 0.59%, up about 180 points from the day’s low and off close to 10 points from the day’s high. The market breadth, indicating the overall health of the market, turned negative from positive.

Index heavyweight and cigarette maker ITC declined. Bank stocks edged higher. Indraprastha Gas rose on reports the company on Friday, 5 May 2014, raised prices of CNG and PNG, citing rise in input costs. Hindalco Industries extended intraday gains.

Key indices hovered between gains and losses near the flat line in early trade. It regained strength after trimming gains after hitting fresh intraday high in morning trade. It trimmed gains in mid-morning trade. It regained strength in early afternoon trade.

The market sentiment was boosted by data showing that foreign funds remained net buyers of Indian stocks on Friday, 2 May 2014. Foreign institutional investors (FIIs) bought shares worth a net Rs 386.95 crore on Friday, 2 May 2014, as per provisional data from the stock exchanges.

At 12:20 IST, the S&P BSE Sensex was up 131.35 points or 0.59% to 22,535.24. The index rose 141.29 points at the day’s high of 22,545.18 in morning trade. The index shed 49.44 points at the day’s low of 22,354.45 in early trade, its lowest level since 30 April 2014.

The CNX Nifty was up 31.70 points or 0.47% to 6,726.50. The index hit a high of 6,732.05 in intraday trade. The index hit a low of 6,680.45 in intraday trade, its lowest level since 30 April 2014.

Powered by Capital Market – Live News

Market may extend Tuesday’s losses on weak Asian stocks

Market may extend Tuesday’s losses on weak Asian stocks

The market may extend Tuesday’s losses on weak Asian stocks. Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could fall 21.50 points at the opening bell. Asian stocks fell on Wednesday as oil dropped and emerging-market and commodity-linked currencies weakened amid concern that China’s economy may be faltering.

A group of investors in Maruti Suzuki India has reportedly ratcheted up pressure on India’s top carmaker to abandon a plan for its Japanese parent to build a new plant to make cars for the Indian firm, saying it would hurt shareholders.

 

Powered by Capital Market – Live News

Share Market Updates – Shyam Advisory

The market may extend recent gains, with the indices set to hit fresh record highs on firm Asian stocks. Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could gain 34.50 points at the opening bell.

Asian shares rose on Friday, as investors looked toward the US nonfarm payrolls report later in the global day for confirmation that the US employment picture has improved.

Lupin said after market hours on Thursday, 6 March 2014, that it has received final approval for its Doxycycline Capsules USP, 50 mg, 75 mg, and 100 mg from the United States Food and Drugs Administration (FDA) to market a generic version of Aqua Pharmaceuticals Monodox Capsules 50 mg, 75 mg, and 100 mg. Lupin’s Doxycycline Capsules 50mg, 75mg and 100mg are the AB-rated generic equivalents of Aqua Pharmaceuticals, LLC’s Monodox Capsules 50mg, 75mg and 100mg and are indicated in the treatment of infections caused by various microorganisms and as an adjunctive therapy in severe acne.

The company also received final approval from the FDA for its Ciprofloxacin for Oral Suspension, 5 g/100 mL (250 mg/5 mL) and 10 g/100 mL (500 mg/5 mL) to market a generic version of Bayer HealthCare Pharmaceuticals, Inc.’s (Bayer) Cipro for Oral Suspension 5 g/100 mL and 10 g/100 mL, Lupin said. Lupin’s Ciprofloxacin Oral Suspension, 5 g/100 mL (250 mg/5 mL) and 10 g/100 mL (500 mg/5 mL) is the generic equivalent of Bayer’s Cipro Oral Suspension 5 g/100 mL (250 mg/5 mL) and 10 g/100 mL (500 mg/5 mL) and indicated for the treatment of infections caused by susceptible isolates of the designated microorganisms in various conditions and patient populations.

Lupin is the first applicant to file an ANDA for Cipro Oral Suspension 250 mg/ml & 500 mg/ml and as such is entitled to 180 days of marketing exclusivity. Lupin Pharmaceuticals Inc. (LPI), the company’s US subsidiary would commence marketing the products shortly, Lupin said in a statement.

Monodox Capsules had annual US sales of $180.6 million (IMS MAT Dec, 2013) whereas Cipro Oral Suspension had annual US sales of $8.6 million (IMS MAT Dec, 2013).

Powered by Capital Market – Live News