Companies and Markets

Companies & Markets

Market is vulnerable, mood confused and sentiment buoyant

The market was choppy last week and fell on alternate days. The technical pattern formed on Friday could become worrisome in following days. The BSE Sensex managed gains of 132.77 points, or 0.50 per cent, to close the week at 26,759.23 points. On Friday, it did manage to touch the 27,000 level, but corrected sharply. The Niftygained 58 points or 0.71 per cent to close at 8,243.80 points. The touched had 8,300 intraday.

Banks’ credit cost to remain high from ageing NPAs

Banks are likely to report lower core profits for the third quarter of the financial year but this would be offset by better treasury gains. With loan growth remaining muted, the net interest income (NII) is likely to remain low. While the pace of slippages should reduce, credit cost will remain high because of large and unprovided bad loans. Banks’ credit growth, already low since the beginning of the financial year, fell sharply post-demonetisation on November 8.

Sensex ends 119 down after hitting 27k, IT stocks melt

Marked by day-long swings, the stock market came off its nearly two-month high by falling over 119 points to close at 26,759, stumped by IT worries following proposed visa curbs in the US.

The NSE nifty too briefly retook the 8300 level before capitulating. Information technology stocks hit a rough patch after US lawmakers pushed ahead with legislation to put restrictions on use of H1B visas -- Infosys fell 2.50 per cent, TCS 2.18 per cent and Wipro 2.18 per cent.

BSE to launch new IRF contract from Jan 10

Leading stock exchange BSE will introduce new interest rate futures (IRF) contracts from January 10 on government bonds maturing in 2029.

The IRF contract is based on 6.79 per cent central government security maturing on December 26, 2029, and will be available for trading from January 10, BSE said in a circular.

An IRF contract is an agreement to buy or sell a debt instrument at a specified future date at a pre-determined price.

Market takes gains further, up 103 pts; Nifty regains 8300

The market made a solid opening today as the benchmark Sensex gained over 103 points taking support from domestic investors, extending its yesterday's rally on the back of a firm Asian trend.

Moreover, an appreciating rupee brought more cheer. The 30-share index advanced 103.48 points, or 0.38 per cent, to 26,981.72, with healthcare, consumer durables, metal, auto, capital goods, oil and gas and banking stocks trading in the positive zone, rising by up to Rs 0.59 per cent.

Sensex soars 245 pts to near 2-mth high, Nifty tops 8200-mark

The Sensex rebounded strongly to end near a two-month high of 26,878 by zooming over 245 points and the NSE Nifty rescaled the 8,200-mark after the US Fed minutes hinted at the uncertainty over pace of rate hike.

A higher US interest rate means flight of capital from emerging markets in quest of better returns.

Sensex rebounds 171 pts on higher Asian cues

The benchmark BSE Sensex rebounded over 171 points and the NSE Nifty regained the 8,200-mark in the opening trade today, reflecting gains in Asia after US Fed minutes suggested a less hawkish stance from policymakers.

The 30-share index was trading higher by 171.39 points, or 0.64 per cent, at 26,804.52 with all sectoral indices led by metal, auto, realty and banking stocks in the green.

The gauge had lost 10.11 points in the previous session. Besides, the NSE Nifty reclaimed the 8,200-mark by recovering 51 points, or 0.62 per cent, at 8,241.50.

Sensex builds on gains after strong global cues

The benchmark BSE Sensex advanced over 58 points in early session today on continuous buying by domestic institutional investors amid strong global leads.

The NSE nifty also went past the 8,200-mark. The 30-share index was trading higher by 58.55 points, or 0.21 per cent, at 26,701.79, with consumer durables, metal, auto, healthcare and capital goods stocks staying in good shape.

The gauge had gained 47.79 points in the previous session. The NSE index Nifty too was up 18.20 points, or 0.22 per cent, at 8,210.45.

The big hole

The government could face a big shortfall in its disinvestment target for the current fiscal given that it has raised less than half the proceeds budgeted through sell-off in the first nine months.
The government has targeted to mobilise Rs 56,500 crore via sale of public sector assets – Rs 36,000 crore through minority stake sale and share buyback and Rs 20,500 crore from strategic ssales.
Against that, it has raised nearly Rs 24,000 crore — Rs 21,432 crore via share buyback and minority stake sale and nearly Rs 2,100 crore from strategic sale in Suuti — so far.

Sensex recoups 43 pts on positive infra data

The BSE Sensex made a modest recovery of over 43 points at the start today on fresh buying, buoyed by a pick-up in infrastructure sector in November coupled with firm Asian cues.

The 30-share index rose 43.46 points, or 0.16 per cent, to 26,638.91, with sectoral indices consumer durables, power, metal, oil and gas, healthcare and realty advancing by up to 1.93 per cent. The gauge had lost 31.01 points in the first trading session of 2017 yesterday.

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