Stocks
Nifty, Sensex may rally - Wednesday closing report
If Nifty is able to hold today’s low, it can rally upto 7,950 over the next two days
 
We had mentioned in Tuesday’s closing report that Nifty, Sensex may record further losses. The indices in the Indian stock market did not improve on Wednesday and closed with losses of 1% and higher. The initial gains of over 240 points in the S & P BSE Sensex came on the back of the government's decision that minimum alternate tax (MAT) will not be imposed on foreign portfolio and institutional investors. The bulls could not sustain their buying due to continued weakness in the Asian markets coupled with less-than-expected macro data. 
 
 
The Q1 GDP came in at 7%, showing signs of slowing vis-a-vis the 7.5% expansion during the previous quarter. The Nikkei India Manufacturing PMI (Purchasing Manufacturers Index) for the last month stood at 52.3, which is marginally down from July's 52.7. 
 
Sector-wise, S&P BSE banking, automobile, capital goods, consumer durables and oil and gas indices came under intense selling pressure.
 
The S&P BSE banking index plunged by 369.82 points, the capital goods index fell by 281.05 points, the automobile index contracted by 216.84 points, the consumer durables index declined by 128.79 points, the oil and gas index decreased by 104.55 points and healthcare index edged lower by 102.75 points.
 
However, information technology (IT) index rose by 125.83 points, technology, entertainment and media (TECK) index gained by 54.83 points and fast moving consumer goods (FMCG) index rose by 47.82 points.
 
The top gainers and losers of major indices in the Indian stock markets are given in the table below:
 
 
The closing values of major Asian indices are given in the table below:
 
 
At the time of writing this piece, the DAX was up 0.75% and the FTSE 100 was at 6,069.88, up 1.21%. Dow was trading almost 200 points higher.
 

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Nifty, Sensex will record further losses - Tuesday closing report
But Nifty is falling on lower and lower volumes
 
We had mentioned in Monday’s closing report that Nifty, Sensex look weak again and that as long as Nifty closes below 7,980, the trend is down. Most of the indices in the Indian stock market suffered a decline of more than 2% down on Tuesday. Almost all the sectors were trading in the red. Heavy selling pressure was seen in metal, banking, realty and consumer durables sectors. 
 
 
The slide in Asian markets and below-expected macro data sobered investor sentiments in the Indian equities markets on Tuesday, leading the Sensex to close 2.23% down.
 
The barometer 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) tanked by 586.65 points or 2.23%. Bearish sentiments were also witnessed at the wider 50-scrip Nifty of the National Stock Exchange (NSE). It ended the day's trade at 185.45 points or 2.33 percent down at 7,785.85 points. 
 
Analysts cited negative cues emanating out of Asian markets, especially the continuous slide in the Chinese exchanges to be the catalyst for the sharp fall in the domestic bourse. 
 
Among the Asian markets, Japan's Nikkei plunged by 3.84%. Hong Kong's Hang Seng plummeted by 2.24%. China's Shanghai Composite Index dropped by 1.28%.
 
The massive implosion in the Chinese markets which has by some estimates eroded 40%-45% of the entire stock value coupled with yuan devaluation and lower factory output has spooked the world markets. 
 
Other factors which subdued the markets were below-expected first quarter (Q1) gross domestic product (GDP), eight core industries (ECI) and purchasing manager’s index (PMI) figures. All these macro data points were below market's estimates.
 
The Q1 GDP came in at 7%, showing signs of slowing vis-a-vis the 7.5% expansion in the quarter before. But the growth was much higher than 6.7% registered in the first quarter of the last fiscal.
 
The ECI for select factory output slowed to 1.1% growth in July from an increase of 3% in the previous month, mainly due to a fall in steel production and marginal growth in coal. The select factory output index rose by 4.1% in July 2014.
 
The Nikkei India Manufacturing PMI (Purchasing Manufacturer’s Index) for the last month stood at 52.3. This is marginally down from July's 52.7. An index reading of above 50 indicates an overall increase in the manufacturing sector, below 50 an overall decrease.
 
Sector-wise, all 12 sub-indices of the BSE ended the day's trade in the red. The S&P BSE banking, automobile, capital goods, consumer durables and healthcare indices came under intense selling pressure.
 
The S&P BSE banking index plunged by 713.55 points, the automobile index receded by 472.84 points, the capital goods index contracted by 442.05 points, the consumer durables index declined by 272.67 points and healthcare index decreased by 263.78 points.
 
Major Sensex gainers during Tuesday's trade were: Sun Pharma, up 0.34% at Rs.900.75.
 
The major Sensex losers were: Axis Bank, down 5.24% at Rs.480.15; Hindalco Industries, down 5.18% at Rs.75.90; Tata Steel, down 3.93% at Rs.216.20; BHEL, down 3.91% at Rs.217.65; and Vedanta, down 3.80% at Rs.94.85.
 
The top gainers and top losers in the major indices are given in the table below:
 
 
The closing values of the major Asian indices are given below:
 
 
Among European indices, the DAX was at 9,964.45, down 2.88%, and the FTSE 100 was at 9,964.45 2, down 3.08%

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Maruti Suzuki's August sales up 6.4%
Leading automobile manufacturer Maruti Suzuki on Tuesday reported a 6.4 percent increase in its sales for August, 2015.
 
The company sold 117,864 units during the month under review from an off-take of 110,776 units in the corresponding month of 2014.
 
The automobile manufacturer's sales during July had risen by 20 percent with the company selling a total of 121,712 units.
 
Domestic sales during the month under review rose by 8.6 percent at 106,781 units from 98,304 units sold in August, 2014.
 
Exports plunged by 11.1 percent in the month under review with 11,083 units being shipped-out from 12,472 units being sold abroad during the corresponding month of 2014.
 
The exports during July had risen by a mere 0.2 percent at 11,307 units. 
 
The sales of passenger car segment surged 4.4 percent to 86,454 units being sold during last month from 82,823 units off-take in the like period of last year.
 
The company's passenger car segment comprises of brands like Alto, WagonR, Swift, Ritz, Celerio, Dzire, Dzire Tour, SX4 and Ciaz.
 
The off-take of utility vehicles which comprises of brands like Gypsy, Ertiga and the new crossover S Cross rose by 42.7 percent at 7,836 units from sales of 5,491 units in Agust, 2014.
 
The sales of van segment, which includes Omni and Eeco, increased by 25 percent at 12,491 units from an off-take of 9,990 units in the corresponding month of previous year.
 
The company's scrip at the Bombay Stock Exchange (BSE) declined by 1.88 percent at Rs.4,089.25 around 2.00 p.m. from its previous close of Rs.4,167.50 on Monday.

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