Top Market News Update 10 march 2016

The 75 lakh shares representing 0.3 per cent stake in Infosys were offered in the price range of Rs 1149-1178.5 and the transaction will be carried out during the day.

Aviation stocks such as Jet Airways, InterGlobe Aviation and SpiceJet were trading higher in the morning trade on reports about a cut in aviation turbine fuel (ATF) or jet fuel prices.

Dewan Housing Finance Corporation Ltd share price gained as much as 4 per cent in the early trade on Thursday after it informed bourses that the company has received an approval to raise funds

Dewan Housing Finance Corporation shares were trading 3.41 per cent up at Rs 183.35 after it received an approval to raise funds up to Rs 5,100 crore, subject to market conditions, by way of a secured or unsecured debt issue by means of a private placement or listed on any offshore or onshore Stock Exchanges.

The IPO comprises of fresh issue of up to 1.16 crore equity shares and an offer for sale of up to 1.82 crore shares by its existing shareholders.

The IPO would conclude on March 22, according to latest information available with the Securities and Exchange Board of India (Sebi).

The BSE Sensex opened 21.74 points, or 0.09 per cent, up at 24,815.70, while NSE Nifty 50 index advanced 13.55 points, 0.18 per cent, at 7,545.35.

Asian stocks edged up on Thursday after New Zealand surprised markets with a rate cut, keeping investors primed for more stimulus from the European Central Bank later in the day as global policy makers step up efforts to support their wobbly economies.

Gold fell on Wednesday as oil prices and world stock markets rose, and expectations for further monetary easing from the European Central Bank prompted some  to take profits after the metal’s rally to 13-month highs last week.

Morning Market Update 08 March 2016

Nalco stocks were trading 3.07 per cent up at Rs 38.60 (9.20 am) as the company will invest around Rs 900 crore in Kakrapar Atomic Power project to acquire 26 per cent stake in the plant and plans to increase it to 49 per cent later.

Gold advanced to trade near a 13-month high on Tuesday, supported by a struggling dollar and hopes the U.S. Federal Reserve will not raise interest rates as soon as next week’s meeting.

Asia stocks fell on Tuesday as investors took profits after a month-long rally and investors grew wary of the market’s near-term prospects ahead of major central bank meetings.

Domestic equity markets opened on a flat note on Tuesday. 

Sensex opened 8.71 points up at 24,655.19, 

while Nifty 50 opened 1.05 points up

Brent crude rose on Monday, hitting a 2016 peak above $40 a barrel as investors rotated more assets into raw materials, with oil buying encouraged by talk that OPEC producers want a higher anchor price after a selloff that has lasted nearly two years.

Commodity Market Update News Today 02 March 2016

World ending stocks are projected to decrease by 8% to 20.4 million tonnes, which represents about 86% of world cotton consumption in 2015/16. This is the first reduction in world ending stocks since 2009/10.

Over 50,000 MT pulses have been procured from the farmers by various Government agencies at the market prices and decision to import 20,000 MT pulses has been taken.

Near term trend can be expected to be weak for the agri futures markets with Chana, Guar, Kapas and oil complex set for further decline on the back of fall in global markets.

Iraqi government has asked international oil companies (IOCs) to reduce spending plans at southern oil fields in 2016 because Iraq has been struggling to keep up its share of payments to IOCs.

Gold prices & Silver prices update view 11 January 2016

Gold Update :-

Gold prices have retraced from its highs at 26123 levels. Sustenance below 25900 levels will see prices slip towards major support areas around 25750 levels. Pullback rallies from lower levels will push prices higher towards 26120—26220 levels. We expect the counter to face selling at higher levels.

Silver Update :-

Silver prices have retraced from its resistance at 34500. The counter can bounce until prices hold on above 33630 levels. Areas between 34390—34500 are strong resistance for the counter. A daily close below 33600 will push prices lower towards 33290/33150 levels.

Crude rebounds in Asia after sell off in U.S. overnight

• Crude oil prices rebounded in Asia on Tuesday after a sharp sell off overnight on concern of a Fed rate hike.
• Ahead, the American Petroleum Institute will releases estimates of U.S. crude stockpiles last week to be followed by more closely watched data from the U.S. Department of Energy on Wednesday.
• Earlier, San Francisco Federal Reserve Bank President John Williams said Monday in the U.S. he sees monetary policy in the U.S. beginning to normalize this year.
• "All in all, things are looking up," Williams said in remarks prepared for a UCLA Anderson School of Management event, "and if they stay on track, I see this as the year we start the process of monetary policy normalization.
• On the New York Mercantile Exchange, WTI crude for November delivery rose 0.27% to $44.559 a barrel.
• Overnight, crude futures fell more than 2% on Monday reversing gains from late last week, amid mounting concerns that an interest rate hike by the Federal Reserve will weigh on energy prices worldwide.
• On the Intercontinental Exchange (ICE), Brent crude for November delivery wavered between $47.27 and $48.42 a barrel before closing at $47.34, down 1.28 or 2.63% on the session. The spread between the international and U.S. domestic benchmarks of crude stood at $2.89, just above Friday's level of $2.88 at the close of trading.

Market Update News 29th September 2015

·         RBI revises norms for Borrowing Entities outside SDR

RBI has decided to allow banks to upgrade the credit facilities extended to borrowing entities whose ownership has been changed outside SDR (strategic debt restructuring), to ‘Standard’ category upon such change in ownership, subject to certain conditions (eg the change in ownership is by way of sale by lenders to new promoters, the new promoters must have 51% stake and should not have any relation with exiting company etc).

                                                  

·         Dr Reddy's surges on launch of Esomeprazole Magnesium

Shares of Dr Reddy’s Laboratories rallied 6% to Rs4222 on the NSE in an otherwise subdued market after the drug maker announced the launch of Esomeprazole Magnesium Delayed-release capsules, which is the generic version of AstraZeneca's Nexium®, in the US market.

·         Government’s holding in IDBI Bank to be reduced to 49%

Government’s holding in IDBI Bank to be reduced to 49% -- sentimentally positive for IDBI bank. As per media reports, the government has firmed up plans to bring down its holding in IDBI Bank 49%, marking a big bang start to its commitment to reform state-run banks.

·         IndusInd Bank grants options to new Joinees

IndusInd Bank Ltd has informed BSE that the Bank has, on September 21, 2015, granted 193,000 Options to 8 new joinees, as a part of pre-hiring negotiations. The  Grant of Options is on the basis of receipt of necessary approvals, in accordance with the Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014 and the ESOP Scheme 2007 of the Bank.

                                                                             

·         SPARC, Sun Pharma drop as USFDA cancels Seizure drug over compliance issues

FDA cancels  Sun Pharma Advance Research Company Ltd’s (SPARC)  Seizure drug over compliance issues – Negative for  Sun Pharma and SPARC. Shares of  Sun Pharmaceutical Industries and  Sun Pharma Advanced Research Company (SPARC) fell 3% each after the US Food and Drugs Administration ( USFDA) withdrew an approval granted in March to SPARC’s anti-epileptic drug due to regulatory compliance issues at  Sun Pharma's Halol plant.

                                           

·         Col-Pal increases paid-up capital to Rs27,19,85,634

Colgate Palmolive (India) Outcome of  Stakeholders’ Relationship Committee Meeting - Increase in the paid-up Capital of the Company on account of Bonus Issue. Colgate Palmolive (India) Ltd has informed BSE that on July 30, 2015, the Board of Directors of the Company approved the Issue of Bonus Equity Shares. On September 11, 2015, the shareholders, through the Postal Ballot approved the resolution of issue of bonus shares in the ratio of 1:1 to the eligible shareholders of the Company.

Morning Market news Update 23 September 2015

1. Market to open in red: Angel Broking

According to a report by Angel Broking, Indian markets are expected to open in the red tracking the SGX Nifty and mixed Asian cues.

2. Rupee opens at 66.02 per dollar; down 14 paise

Rupee range is seen between 65.40-66.40/dollar, says Pramit Brahmbhatt of Veracity.

3. Nifty to remain range bound between 7500 to 8100: Experts

Mayuresh Joshi of Angel Broking says that delay in corporate earnings could drive the market down further.

4. Sensex down over 100 pts, Nifty above 7750; Reliance gains

NTPC, M&M, Hero MotoCorp, Reliance and Maruti are top gainers while Bharti, Tata Steel, Tata Motors, Vedanta and Wipro are major losers in the Sensex.