Sensex back in green, rises 51 points ahead of GDP data

The BSE Sensex recovered about 51 points and the NSE Nifty scaled the 8,900-mark in early trade today as investors took to buying ahead of GDP data scheduled to be released later in the day amid firm global cues.
    
The 30-share index was trading higher by 50.53 points or 0.18 percent, to 28,863.41 with the sectoral indices led by consumer durables, capital goods, healthcare, metal, auto and banking trading higher by up to 0.58 percent.
    
The gauge had lost 80.09 points in the previous session.
    The NSE Nifty too was up 13.80 points, or 0.16 percent, to 8,910.50.

Brokers said buying by domestic institutional investors took off well today alongside a firming trend in other Asian markets. US President Donald Trump's speech at a joint session of Congress later in the day will also be keenly watched.

    

Among other Asian markets, Hong Kong's Hang Seng was up 0.02 percent, Japan's Nikkei gained 0.69 percent, while Shanghai Composite Index was up 0.13 per cent in early trade today.

    

The US Dow Jones Industrial Average ended 0.08 percent higher in yesterday's trade.

The S&P BSE benchmark Sensex trimmed its early gains in late morning trade and was quoting higher by 3 points on renewed selling pressure in refinery stocks despite buying in Capital Goods, Auto, Banking and Healthcare sectors. Foreign capital outflows affected the market sentiment.

Foreign funds sold shares net of Rs 145.55 crore yesterday as per the provisional data issued by stock exchanges. The Sensex resumed higher at 28,825.19 and firmed up further to 28,876.54 on initial buying but fell afterwards to 28,797.21 before quoting at 28,816.13 at 1030hrs, still showing a gain of 3.25 points, or 0.01 pct.

The NSE 50-share Nifty eased by 2.65 points, or 0.03 per cent, to quote at 8,894.05 at 1030hrs. Major losers were Coal India 2.09 pct, Bajaj Auto 0.81 pct, HUL 0.68 pct. Tata Motors 0.55 pct and TCS 0.54 pct. However, Bharti Airtel firmed up by 1.08 pct, SBI 0.82 pct, Adani Ports 0.81 pct, Larsen 0.74 pct and Maruti 0.71 pct.

In the overseas market, most Asian shares rose today in early trade bolstered by gains on Wall Street as investors awaited a speech by US President Donald Trump for signals on tax reform and infrastructure spending.

US stocks pushed further into record territory on yesterday as the Dow Jones industrial average closed at a record high. The Standard & Poor's 500 index also closed at a record high.

VISIT - wealth Research

BSE, NSE likely to open strong; key stocks to watch

BSE Sensex and NSE Nifty are more likely to continue on their sturdy upward momentum in opening trade on Tuesday.

BSE Sensex on Monday closed up zero.68%, at 28,66158 factors while NSE Nifty saw a fifty seven.50 factors upward push to shut at eight,879.20 points.

Key shares to observe:

Tata Consultancy services and products: TCS on Monday mentioned that the company will spend Rs sixteen,000 crore to buyback 2.eighty five% fairness shares at Rs 2850 per share. Shares of the corporate won on Monday in anticipation of the news.

Ambuja Cements: the corporate mentioned higher than anticipated net profit for the quarter ended December 31, 2016.

Infosys: Vishal Sikka, CEO and MD of the IT major has refuted claims made via a whistle-blower. He stated that malicious tales are being unfold to target him.

ONGC Ltd: The state-owned oil main has settled tax dispute with Gujarat govt. ONGC's overseas arm OVL has despatched out RFP to raise mortgage to refinance an acquisition.

Siemens: the corporate has won a contract value Rs 287 crore to set up signalling programs for Nagpur Metro.

VISIT - Wealth Research

Sensex climbs 126 points, Nifty breaches 8,800-mark

BSE benchmark Sensex surged over 126 points and NSE Nifty reclaimed the eight,800-stage in early exchange on Friday as home traders and international dollars indulged in sustained buying ahead of key industrial output numbers to be launched later in the day.

along with, higher-than-expected revenue through some extra corporations additionally fuelled the certain sentiment.

in the case of international cues, firming trend at other Asian bourses, tracking in a single day gains on the U.S. markets after President Donald Trump promised to unlock a so much-anticipated plan for tax cuts quickly, boosted buying and selling momentum here.

The 30-share Sensex was once higher by way of 126.forty eight points, or zero.44 per cent, at 28,456.18 with sectoral indices led through banking, metal, capital items, healthcare and IT buying and selling in the sure zone.

The gauge had received 39.seventy eight points in Thursday’s trade. The broader NSE Nifty too rose by 44 factors, or zero.50 per cent, to 8,822.10.

Brokers mentioned build up of positions by individuals ahead of key economic data — industrial production (IIP) for December — to be released after market closing on Friday, had a significant affect on the buying and selling sample on domestic bourses.

Globally, Japan’s Nikkei climbed 2.36 per cent, while Hong Kong’s dangle Seng moved up 0.fifty one per in early alternate. China’s major Shanghai Composite Index was once also up by means of zero.33 per cent.

The U.S. Dow Jones Industrial average ended at file high by means of surging zero.59 per cent in Thursday’s alternate.

VISIT - Wealth Research

Sensex Edges decrease On warning ahead Of funds

Indian shares edged lower on Monday after four straight periods of gains on warning ahead of the federal finances, while broader sentiment was additionally hit by way of fears about the affect of U.S. President Donald Trump's immigration curbs.

executive is because of existing its 2017/18 budget on Wednesday, with shares remaining week posting their largest weekly good points in eight months on hopes the federal government will announce incentives to ease the affect from a bold and unsafe gamble to outlaw high-price previous forex bills.

however additional warning set in on Monday, especially as Asian shares fell on concerns that Trump's ban on the entry of refugees into the U.S. would show destabilising for the remainder of the sector.

"Markets are somewhat wary of what lies in the price range and have most certainly have rallied too a long way on the belief that some good is in the offing," said Saurabh Jain, assistant vice-president of analysis at SMC global Securities.

The broader NSE Nifty was down 0.14 p.c at 8,629.05 with the aid of 0546 GMT, while the benchmark BSE Sensex was once 0.06 p.c decrease at 27,866.14.

each indexes had risen greater than three % closing week in their biggest weekly good points when you consider that late may.

IT shares contributed to a majority of the losses on the NSE index. The Nifty IT index fell 1.15 percent, dragged down with the aid of Infosys Ltd and Tata Consultancy products and services Ltd, which misplaced over 1.40 p.c each and every.

investors additionally booked profits in latest outperformers: the Nifty financial institution index, which led gains ultimate week, fell zero.40 %, dragged down through HDFC bank Ltd and Kotak Mahindra bank Ltd. The index had received 4.seventy two % closing week.

VISIT - Wealth Research

Rupee opens 11 paise down at 68.18 against dollar

The rupee opened eleven paise down at 68.18 against buck due to buying of yankee foreign money by means of banks and importers.

meanwhile, the home equity market opened marginally within the green following blended international cues. The BSE Sensex opened fifty two.89 factors, or 0.19 per cent, up at 27,761, whereas NSE Nifty opened 7.seventy five factors, or 0.09 per cent, up at eight,610.50. The native forex used to be trading 14 paise down at 68.21 in opposition to dollar round 9.15 am (IST).

The rupee on Wednesday settled 8 paise higher at 68.07 in opposition to dollar.  the rupee ended on a slightly better word on Wednesday on the back of energy in major currencies in opposition to the united states buck and receding dangers of outflow redemptions. strength in home equities and a delicate US$ supported the rupee to increase good points.

international institutional buyers (FIIs) sold shares price Rs a hundred and ten.50 crore on Wednesday with gross gross purchases and sales of Rs 5153.ninety eight crore and Rs 5043.forty eight crore, respectively, in step with knowledge to be had with depository NSDL.

VISIT  - Wealth Research 

Rupee opens 13 paise up against dollar; extends gains for 3rd day

The rupee extended its winning run for the third consecutive day on Friday and opened 13 paise higher at 67.83 against dollar on sustained dollar unwinding from banks and exporters. The local currency on Thursday settled 9 paise higher at 67.96 against dollar.

Meanwhile, domestic equity indices, BSE Sensex and NSE Nifty, opened on a flat note with positive bias following mixed global cues. The 30-share Sensex opened 51 points, or 0.19 per cent, up at 26,929.69, while the 50-share Nifty index kicked off the day at 8,281, 0.10 per cent higher than the previous close.

The local currency was trading around 12 paise higher against the previous close at 9:15 am (IST).

Meanwhile, the RBI on Thursday fixed the reference rate for the dollar at 67.7884 and euro at 71.5574. In cross-currency trade, the rupee fell against the pound sterling to settle at 83.65 from 83.44 yesterday.

Amit Gupta, Co-Founder and CEO, TradingBells said, “Strength in emerging equity markets as well as currencies has put pressure on the dollar. The USD-INR pair may show some recovery on Friday.”

Amar Ambani, Head of Research, IIFL said, “Greenback is witnessing some liquidation, as the recent rally is based on the euphoria of expected higher infrastructure spending and heavy corporate tax cuts by the US President-elect Donald Trump.”

Foreign institutional investors (FIIs) continued to remain net sellers in domestic equity markets on Thursday as they sold shares worth Rs 681.93 crore with gross purchases and gross sales of Rs 3,544.24 crore and Rs 4,226.17 crore, respectively.

VISIT - http://www.wealthresearch.in/