Skip to main content

Sensex ends marginally lower, Nifty holds 8550; NTPC up 3%

03:30pm Market Closing: The market closed marginally lower on Monday. The Sensex shed 69.06 points to 28192.02 and the Nifty lost 20 points to 8550.90.

More than two shares declined for every share advancing on the Bombay Stock Exchange.

State-run power equipment maker BHEL fell nearly 4 percent. ICICI Bank, Infosys, Reliance Industries, HDFC Bank, SBI, ITC, Axis Bank and Wipro were down 0.5-1.7 percent.

However, Hindalco and NTPC topped the buying list, up 3 percent each. ONGC, Hero Motocorp, GAIL and Sesa Sterlite gained 1-1.7 percent.

03:20pm Fiscal Deficit: The government is on course to meet its fiscal year 2014-15 deficit target of 4.1 percent it outlined in the Union Budget in February, expenditure secretary R Wattal 

This is despite the government likely falling short of meeting its telecom-receipts target of Rs 43,161 crore in the Budget.

Of the telecom receipts, the government had forecast about Rs 12,000 crore from the ongoing spectrum auction, which may not accrue this year.

However, the government has enough fiscal space to absorb the gap, according to the secretary.

03:10pm Market Update: The Sensex fell 75.45 points to 28185.63 and the Nifty declined 28.35 points to 8542.55. About 893 shares have advanced, 1981 shares declined, and 187 shares are unchanged on the BSE.

02:50pm MRF in News: The tyre maker says as part of its expansion plan, proposes to invest Rs 4,500 crore in its plants at Perambalur and Arakonam in Tamil Nadu over a period of 7 years.

The Government of Tamil Nadu considered the above proposal and has decided to accord 'Ultra Mega Project Status' under the Tamil Nadu Industrial Policy, 2014.

The Memorandum of Understanding between the Government and the company in this regard is expected to be signed shortly, it added.

02:25pm Sugar prices at 5-year low: With sugar prices in India falling to five-year lows, Shree Renuka Sugars MD Narendra Murkumbi said he expects prices to bottom out by March 31 and improve 5-10 percent from April.

The current collapse – sugar prices in Maharashtra are reining at Rs 23/kg versus quarterly average of Rs 25.5 – is because companies have sold inventory to make payments by March 31.

Overall domestic sugar production is seen at 26.5 million tonne and is expected to exceed demand by 1.8 mt, according to Murkumbi.

The state government in Maharashtra, where supply outstrips demand the most, may provide an additional export subsidy of Rs 1,000 per tonne, he said, over and above the central subsidy.

02:00pm Market Check:

The market marginally declined amid consolidation in afternoon trade, dragged by banks and index heavyweights like Reliance Industries & Infosys.

The Sensex slipped 60.42 points to 28200.66 and the Nifty fell 19.75 points to 8551.15. The broader markets extended fall; the BSE Midcap and Smallcap indices dropped 0.7 percent and 1 percent, respectively.

More than two shares declined for every share advancing on the Bombay Stock Exchange.

BHEL plunged over 3 percent. Shares of Infosys, Reliance Industries, State Bank of India, ICICI Bank and Wipro fell 1-1.7 percent. However, NTPC and Hindalco bucked the trend with 2.7 percent gains. More information please visit this site www.shristocktips.com  

Comments

Popular posts from this blog

Dark secrets of share market

Dark secrets of share market
Stock market has some dark secrets that no broker tells. And what is more surprising is that these secrets belong to the steps taken to make money.
Let’s see how positive things turn negative
1# Commodity price risk
When price of commodity escalates, it brings joy to the companies that see commodities as output. But for companies that see commodities as inputs see loss in increased. Companies that don’t deal in commodities also face difficulties with price escalation. It is so because the customers start selling commodities. And it won’t be an exaggeration to say that commodity pricing effects the entire economy.
2# Headline risk
Do you remember the news of Fukushima nuclear crisis? This news surfaced in 2011 and it drowned all the stocks related to businesses related to nuclear power like uranium miners. It is called headline risk and no business is free from this risk. A torrent ofnews-reports regarding a business can have an adverse effect on its commodity p…

Nifty could slip towards 9,900; 3 stocks which could give up to 11% return

A close beyond 10,400 levels with healthy volumes can pause the current bearishness triggering a short covering to levels of 10,640-10,730.

The Nifty index Futures continued to slide lower for the second month in a row making it 10 percent decline from the record highs. Further, it has broken down from a broadening wedge pattern along with a close below the 200-DMA, affirming weakness dominant in the markets at the moment.

A sustained trade below 10,050 can accelerate the fall to levels of 9,930-9,700. However, a close beyond 10,400 levels with healthy volumes can pause the current bearishness triggering a short covering to levels of 10,640-10,730.

Moreover, the relative strength index or the RSI has turned down from the neutral levels of 50 on two occasions in recent pullbacks suggesting further weakness in the coming trading sessions.

Here is the list of stocks which can give up to 11 percent return:

Arvind Ltd: SELL| Target Rs345| Stop Loss Rs410| Return 11%

On the weekly chart, Arv…

Reliance Infra arm moves Delhi HC over arbitration award against DMRC; stock up 5%

Subsidiary Delhi Airport Metro Express has moved the Delhi High Court seeking execution of the Arbitration award it had won against Delhi Metro Rail Corporation.
Reliance Infrastructure share price rallied 5 percent intraday Tuesday after the company's subsidiary DAMEPL has moved the Delhi High Court over the execution of Arbitration award against DMRC.

"...subsidiary Delhi Airport Metro Express Pvt. Ltd. (DAMEPL) has moved the Delhi High Court seeking execution of the Arbitration award it had won against Delhi Metro Rail Corporation (DMRC)," the company said in its filing.

The arbitral award was recently upheld by a single judge bench of the Delhi High Court.

In its petition filed under section 36 of the Arbitration and Conciliation Act in the division bench headed by Chief Justice of Delhi HC, DAMEPL has sought an order for the execution of the award dated May 11, 2017 passed by the Arbitral Tribunal and direct DMRC to pay a around Rs 5,200 crore, the company said.

Thi…