Tag Archives: Foreign Exchange Market

Sep 08

Daily Market Commentary : 6th SEP 2016

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The Indian equity market closed higher on Tuesday. The stock market saw a gap-up opening, as trading resumed after a local holiday yesterday. The Sensex hit 29,000-level for the first time since April 15, 2015. The Nifty hit an 18-month high. Nifty closed with a  gain of 133 points at 8,943, while BSE Sensex ended with a gain of 446 points at 28,978.

Urjit Patel assumed charge as the 24th Governor of Reserve Bank of India (RBI), succeeding Raghuram Rajan whose three-year controversy-ridden tenure ended on Sunday, 4th September, 2016. Patel has assumed charge effective Sunday after serving as Deputy Governor since January 2013, RBI said.

On the global front, Brent crude prices were steady today following Monday’s rally as other oil producers welcomed an agreement between Saudi Arabia and Russia to stabilize the oil market.

Asian shares edged up on Tuesday as investors awaited the Reserve Bank of Australia’s policy meeting in which it is expected to keep interest rates steady.

The Nikkei Stock Average closed up 0.3%, hitting a fresh three-month high, and building on last week’s 3.5% gain. Singapore’s Straits Times Index added 1.6% on rising oil prices, while Hong Kong’s Hang Seng Index gained 0.58%.

European stock markets rose following gains in Asian equities. The FTSE 100 is trading in red, while the CAC 40 and DAX were trading up 0.3%.

Coal India slipped 1.1% to Rs.329 after it reported the lowest production and shipments in three years as heavy rains flooded its mines.

Tata Motors rallied 7.2% to Rs.589 on BSE. Jaguar Land Rover, the British luxury vehicle unit of Tata Motors, is planning to make Land Rover SUVs in India for the local market and exports, as per media reports.

Mindtree tanked 5% to Rs.521.70 on the BSE. The IT Company has issued a profit and revenue warning, impacted primarily due to cross-currency movement and Brexit.

Unitech Ltd rose 2.3% to Rs.5.37. The Delhi high court has directed Unitech Ltd to open escrow accounts in its delayed residential projects in order to protect the interest of home-buyers and a court appointed commissioner to monitor the same, the realty firm informed NSE.

Jubilant Food works Ltd plunged 9.5% after the company has posted a net profit of Rs.19 crore for the quarter ended June 30, 2016 as compared to Rs.27.6 crore for the quarter ended June 30, 2015.

Mangalore Refinery & Petrochemicals rallied 5.4% after the company reported 77.6% rise in net profit for the quarter ended June 30, 2016 against Rs.405.52 crore in the corresponding quarter a year ago. However, net sales of the company dipped 25.52 per cent year-on-year to Rs.8425.86 crore for the quarter under review against Rs.11313.11 crore in the same quarter last year.

Ahluwalia Contracts India Ltd climbed 7% to Rs.317 after the company said it got new orders worth Rs.244.13 crore.

Pennar Engineered Building Systems Ltd soared 6.5% to Rs.183 after the company said it got orders worth Rs.203 crore.

Ramco Systems Ltd gained 3% to Rs.501 after the company said it has been selected lowest bidder by Canada’s Leading Aerospace & Defence In-Service Support Integrator, L-3 MAS.

Atlanta Ltd galloped 19% to Rs.73.50. The company said in a notice to BSE that it has Rs.1,600 crores of arbitration awards and it expects to get Rs.1,200 crore after rule change on arbitration. The company also said it expect to repay Rs.900 crore debt by this fiscal year.

Punj Lloyd Ltd gained 3.5% to Rs.26.50. The company said in a notice to BSE that its solution to upgrade Zu 23 air defence gun after field evaluation was qualified by the ministry of defence. The commercial bid has been opened and the company is the provisional lowest bidder.

SPML Infra Ltd jumped 3% to Rs.80. The company said its debt fell after government decision on arbitration. The company expects to get 75% of the Rs.250 crore of arbitration award.

The rupee was trading up 29 paise at 66.52 per US dollar.

Out of 1,451 stocks traded on the NSE, 904 advanced and 498 declined today.

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Sep 06

Daily Market Commentary : 2nd SEP 2016

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The Indian equity market closed the week on a positive note as indices erased initial losses on Friday and closed higher. The upswing was aided by gains in auto, telecom, realty, utilities, finance, power, banking and pharma stocks. Nifty closed with a  gain of 35 points at 8,810, while BSE Sensex ended with a gain of 109 points at 28,532.

On the global front, Asian stocks closed on mixed note. The Nikkei 225 ended marginally lower. Shanghai Composite and Hong Kong’s Hang Seng index index closed in green.

European stocks edged higher. The FTSE 100 and the CAC 40 were trading higher by 0.89% each. DAX was trading up 0.21%.

Reliance Infrastructure soared 4.7% to Rs.614.15 on the BSE. Reliance Infrastructure has won arbitration awards for two Road projects of Rs. 170 cr. In addition, over Rs. 14,000 crore are under advanced stages of arbitration for various projects.

PVR rallied 7.6% to Rs.1,272. Wanda Cinema, owned by China’s richest man, Wang Jianlin has revived talks with Ajay Bijli, the promoter of PVR Ltd, to buy a controlling stake in India’s largest multiplex operator, as per media reports. However, PVR clarified, according to reports that the rumors are baseless.

Telecom stocks wiped out its morning losses and closed higher on BSE. On Thursday, Mukesh Ambani announced the launch of much-talked about Jio 4G service, offering free voice calls and national roaming. The BSE Telecom closed higher 1.48% or 17.15 points at 1,173 as against the previous close of 1,566.58. The BSE Telecom opened at 1,150.26 and hits a high of 1,173.62 and a low of 1,145.20. Bharti Airtel rallied 2.7%, while Idea and RCom closed flat.

Shipping Corporation Of India jumped 6.6% to Rs.70.25. Shipping Corp. of India Ltd, struggling for respite from an industry downturn, plans to revive a 40-year-old joint venture with an Iranian company. The recent easing of sanctions on Iran opened the way to resuscitating Irano Hind Shipping Co., which potentially offers access to Central Asian markets such as Kazakhstan, according to the Indian company’s chairman B.B. Sinha.

Maruti Suzuki closed higher 2% at Rs.5158.50 on the BSE. The company reported 12.2% growth in total sales to 1.32 lakh units in August 2016 over August 2015. This includes 119,931 units in the domestic market and 12,280 units of exports. The company had sold a total of 117,864 units in August 2015.

Patel Engineering hit 20% upper circuit to Rs.64.50. The company on Thursday informed bourses that the Cabinet decision that requires government agencies to pay 75 per cent of the arbitral awards is expected to reduce the company’s debt by more than 50 per cent.

Essel Propack tanked 3% to Rs.218. The packaging company on Thursday posted 6.63 per cent rise in its consolidated bottom line figures for the June quarter at Rs 37.62 crore. It had reported a net profit of Rs 35.28 crore in the corresponding period last year.

Cadila Health care jumped 2.4% after the company’s Oral Solid Dosage drug manufacturing plant located at SEZ, Ahmadabad has received an Establishment Inspection Report (EIR) from the USFDA following the inspection carried out in January 2016.

Tata Motors gained 1.1% to Rs.549 on BSE. The auto major posted a 6% increase in total sales at 43,061 units in August. Tata Motors had sold 40,679 units in the same month last year.

Coal India slipped 1.6% to Rs.332.50. The company said it produced 32.43 million tonnes (MT) of coal in August, missing its target for the month. Its target for August was 40.89 MT.

The rupee was trading up 11 paise at 66.83 per US dollar.

Out of 1,456 stocks traded on the NSE, 611 declined and 781 advanced today.

Top 5 Nifty Gainers: Axis Bank (3.06%), Tata Motors (2.86%), Maruti Suzuki(2.02%), Asian Paints (1.86%) and NTPC (1.47%).

Top 5 Nifty Losers: Bharti Airtel (-1.61%), TCS (-0.50%), Coal India (-0.39%) and Wipro (-0.12%)

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Sep 02

Daily Market Commentary : 1st SEP 2016

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The Sensex and Nifty closed lower on Thursday, pausing after a three-day rally. Sentiment was hit after GDP data released late on Wednesday showed India’s economy grew at a much lower-than-expected 7.1% in the April-June quarter, its slowest pace in 15 months. Similarly, the Core Sector growth slowed to 3.2% in July, compared to 5.2% recorded in June. Nifty closed with a loss of 12 points at 8,775, while BSE Sensex ended with a loss of 29 points at 28,423.

Meanwhile, manufacturing output in India grew at its fastest pace in thirteen months in August. The seasonally adjusted Nikkei India Manufacturing Purchasing Managers Indexedged higher in August, at 52.6 compared with 51.8 in July.

China’s official manufacturing purchasing managers’ index, a gauge of factory activity, rose to 50.4 in August, returning to expansionary territory, official data showed today.  China’s Shanghai Composite closed in red. Japan’s Nikkei and Hong Kong’s Hang Seng ended in green.

European stocks edged higher on rebound in crude oil prices after registering sharp losses during the previous trading session. The FTSE 100 was trading up. DAX and the CAC 40 were trading flat around 0.5% each.

Meanwhile, wireless services providers cracked after Reliance Industries announced the launch of Reliance Jio with disruptive pricing strategy in addition to voice calls and national roaming free of cost. The BSE Telecom is closed down 5.7% or 69.52 points at 1,156.58 as against the previous close of 1,226.10.

Banking shares continued at their upward movement with the Nifty Bank and S&P BSE Bankex hitting their fresh 52-week highs on Thursday. Kotak Mahindra Bank and Yes Bank hit a record high while Federal Bank touched a fresh 52-week high.

Mahindra & Mahindra gained 1% to Rs.1452. Domestic sales in August 2016 were at 12,327 units, as against 10,751 units during August 2015.

HCC hits 20% upper circuit after the company announced that the Cabinet decision that needs government agencies to pay 75% of arbitral awards will result in HCC’s debt being reduced by half.

Indo Rama Synthetics dropped 14.6% after the company reported a standalone net loss of Rs.16.56 crore for the first quarter ended June 30.

The rupee was trading down three paise at 66.98 per US dollar.

Out of 1,522 stocks traded on the NSE, 993 declined and 479 advanced today.

Top 5 Nifty Gainers: Adani Ports & Sez (3.07%), Maruti Suzuki (2.14%), Tata Motors (1.86%), HDFC (1.13%) and Asian Paints (1.00%).

Top 5 Nifty Losers: Coal India (-1.86%), Reliance Ind. (-1.86%), Bajaj Auto (-1.62%), Infosys Ltd. (-0.59%) and CIPLA (-0.54%)

To qualify NCFM Capital Market Dealers Module certification examination, register with Intelivisto.com and buy Capital Market comprehensive question bank which features mock test, chapter-wise and full length test as per NCFM standards. It also includes performance analysis tools to analyze the performance. For more information call on: +91-9582000102.