India Stock Market News

Most Asia markets head higher, but Nikkei wavers between gains and losses  

Most Asia markets traded higher on Tuesday, while Japanese shares wavered amid a muted reaction to
better-than-expected economic data. The benchmark Nikkei 225 traded flat at 16,735.78, while the Topix was up 0.03 percent, with the indexes wavering modestly between positive and negative. 

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Data released before the market opened showed Japan's household spending fell 0.5 percent on-year in July, narrower than a Reuters poll forecast for a 0.9 percent decline. Japan's retail sales slipped 0.2 percent on-year in July, a narrower decline than a median market forecast for a 0.9 percent drop, according to Reuters.  

The better-than-expected read, however, did not convince some analysts who believed a combination of persistently low wage and output growth would likely weigh on spending decisions of Japanese households in the near future. Japan's seasonally adjusted unemployment rate for July came in at 3.0 percent, a touch lower than June's 3.1 percent and the lowest since 1995.

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The market has opened on positive note Thursday as the Sensex is up 103.90 points at 25700.92, and the Nifty is up 25.05 points at 7873.90. About 487 shares have advanced, 129 shares declined, and 32 shares are unchanged. For More Information Visit www.capitalheight.com/about.php

ICICI Bank, L&T, BHEL, Cipla Dr Reddy's Lab are the top gainers while HDFC Bank, HUL anf Infosys are the top losers.
Asian markets trading lower on Thursday, after US stocks dropped in reaction to disappointing earnings reports from key consumer discretionary and retail names.
The Indian rupee opened marginally weak at 66.63 per dollar on Thursday against previous close of 66.56.
US stocks dropped on Wednesday and the Dow Jones industrial average suffered its worst day since February as feeble quarterly reports from Walt Disney, Macy's and Fossil undermined confidence across the consumer sector.
  The dollar fell against a currency basket for the first time in seven days, as investors consolidated gains and booked profits on a day with no major US economic data and weak global cues.

Intraday Market Update; Sensex falling 108.77 points to 25290.88

The market continued to see selling pressure with the Sensex falling 108.77 points to 25290.88 and the Nifty declining 36.70 points to 7722.10 ahead of first monetary policy of the RBI in financial year 2016-17. The broader markets too were down with the BSE Midcap and Smallcap indices slipping 0.2 percent each.  For More Info visit at  www.capitalheight.com/about.php   or please call at +91 9993066624, 0731 - 6615050.

Market Outlook:-
The market breadth was weak as about 916 shares declined against 732 advancing shares on Bombay Stock Exchange.
        Adani Ports topped selling list on Sensex, down nearly 3 percent followed by ITC, Tata Motors, Bharti Airtel and GAIL with more than 1 percent loss while HUL gained 1 percent.
        Maruti Suzuki India has officially announced that it intends to double its existing sales network by 2020. Currently, the dealer network of India's largest carmaker comprises of 1,820 traditional dealerships spread across 1,470 cities. The company is planning to add another 200 dealerships in the current fiscal which will increase the total number to over 2,000. The carmaker expects that increasing sales network will help them in attaining their goal of selling 20 lakh units by 2020.

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      The market has started off week on a positive note, tracking global cues post US jobs data. The 30-share BSE Sensex rose 125.18 points to 25394.82 and the 50-share NSE Nifty climbed 38.15 points to 7751.20.

          Torrent Power shares rallied 4.7 percent intraday after the Gujarat electricity regulator approved company's past recovery of Rs 470.5 crore. Gujarat Electricity Regulatory Commission (GERC) approved recovery of past period gaps of Rs 470.50 crore by way of regulatory charge at 45 paise per unit, said the company. GERC, on March 31, issued tariff orders for Ahmedabad Generation, Ahmedabad Distribution and Surat Distribution businesses of Torrent Power for truing-up of its financials for FY2014-15 and determination of tariff for FY2016-17. These orders are effect from April 1, 2016

          According to order, recovery of regulatory charge has to be stopped once the said gaps are recovered in full during the year. A 25 basis point cut by the Reserve Bank of India has been priced in by markets, and may even send the Nifty into a minor correction towards the lower end of its emerging 7,500-7,800 range, says Udayan Mukherjee.A 50 basis point could send the Nifty higher by another couple of hundred points.The Reserve Bank is meeting on April for its first monetary policy meeting of the fiscal.Globally, Mukherjee said the global outlook continues to remain clouded, the strong US jobs data notwithstanding, maintaining that we live in a time of "extraordinary monetary policies.

After Union Budget 2016; Nifty is up 125.65

The market rebounded sharply after the market priced in Union Budget 2016 in previous session. The Sensex is up 415.64 points or 1.8 percent at 23417.64 and the Nifty is up 125.65 points or 1.8 percent at 7112.70. About 1035 shares have advanced, 259 shares declined, and 44 shares are unchanged. For 2 days free trial on  intraday tips, Commodity tips and Intraday Equity tips, please visit this site at www.capitalheight.com/about.php or please call our 24/7 Customer Care Support us at +91 9993066624, 0731-6615050.

Market Outlook:-

• The market is on a roll as bulls celebrate, Budget proposals by Finance Minister Arun Jaitley, in style. The Sensex is up 528.38 points or 2.3 percent at 23530.38, and the Nifty is up 157.65 points or 2.3 percent at 7144.70. About 1357 shares have advanced, 304 shares declined, and 62 shares are unchanged. 
•  ITC, ICICI Bank, Axis Bank, GAIL and Hero MotoCorp are top gainers while ONGC, HUL, HDFC and Dr Reddy's Labs are losers in the Sensex.
• The Indian rupee gained 17 paise in the early trade today. It has opened at 68.26 per dollar versus 68.43 Monday.
• Crude oil rose above USD 36 per barrel after Saudi Arabia pledged to work with other crude producers to limit market volatility.
• Top picks remain unchanged: HDFC Bank, ICICI Bank, Infosys, Sun Pharma, Power Grid and Zee Entertainment, Nandurkar says.
• Gold rose for a second straight session on Tuesday as global economic concerns spurred safe-haven demand and assets in the top bullion fund reached the highest since 2014.Asian shares rose slightly in early trade on Tuesday, with sentiment bolstered by China's easing move and gains in oil prices but also constrained by lacklustre US and European data that kept concerns about global growth momentum alive.

Intraday Market Today's Overview; Nifty ends at 7109

Coal India, SBI, Bajaj Auto, ICICI Bank and Axis Bank were top losers in the Sensex 

Market Outlook:- 

• The market has ended lower after the 50-share indices slipped below 7100. The Sensex skid 378.61 points or 1.6 percent at 23410.18 and the Nifty slipped 125 points or 1.7 percent at 7109.55. About 723 shares have advanced, 1883 shares declined, and 142 shares are unchanged.

• Coal India, SBI, Bajaj Auto, ICICI Bank and Axis Bank were top losers in the Sensex. Motherson Sumi Systems shares tanked 6 percent intraday to hit a 52-week low of Rs 207.10 on Tuesday after promoters created fresh pledge of shares.
• Promoter Samvardhana Motherson International (SMIL), on February 12, created pledge on 62 lakh shares (representing 0.47 percent equity stake of total paid up equity capital) with IDBI Trusteeship Services.
• The auto ancillary company said it is in addition to non-convertible debentures issued by SMIL.

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