Stocks
Nifty, Sensex may struggle to rally – Thursday closing report
Nifty has to stay above 8,110 for the recent rally to sustain
 
We had mentioned in Wednesday’s closing report that Nifty, Sensex may stall and that Nifty has to close above 8,115 for the upmove to continue. Profit booking, coupled with caution over the upcoming quarterly results, subdued investor sentiment on Thursday. The major indices in the Indian stock markets were range-bound and closed with less than 1% losses.
 
 
The Indian equity markets, which had rallied for the past six consecutive sessions till Wednesday, receded following uncertainty over the upcoming Bank of England's rate hike decision expected later in the day. Analysts said the markets fell on the back of profit bookings after six consecutive days of rise and were subdued due to investors' anxiety before the release of second-quarter results. Sector-wise, healthcare, banking, capital goods, automobile and fast moving consumer goods (FMCG) stocks came under selling pressure.
 
The top gainers and top losers of the major indices are given in the table below:
 
 
The closing values of the major Asian indices are given in the table below:
 
 
Among European indices, the DAX was at 9,989.49, up 0.19% and the FTSE 100 was at 6,355.47, up 0.30%.

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Nifty, Sensex may stall – Wednesday closing report
Nifty has to close above 8,115 for the upmove to continue
 
We had mentioned in the Tuesday’s closing report that Nifty, Sensex are still on track for a rise and that Nifty has to stay above 8,075 for the rally to continue. The major indices in the Indian stock markets were volatile during the day’s trading and closed with small gains. 
 
 
The indices were choppy throughout the day's trade driven by investors’ anxiety over the upcoming quarterly results and rising crude prices. The indices were depressed after the International Monetary Fund (IMF) report downgraded India's growth to 7.3% for the current fiscal. Another major dampener came as international crude oil prices rose sharply in the past few days and were hovering around the $50-mark, after rallying nearly five dollars on Tuesday. The jump in the oil prices comes after the US Energy Information Administration cited lower inventory build-up and Russia's decision to hold talks with other major producers to discuss the market situation. Profit booking was witnessed in information technology (IT) and banking stocks.
 
The rupee too made gains during the day's trade. It gained by 43 paise to close at a new eight-week high of 64.98 to a US dollar from its previous close of 65.41 against the greenback.
 
Sector-wise, automobiles, metals and oil and gas stocks witnessed healthy buying, whereas, information technology (IT) and technology, entertainment and media (Teck) scrip came under intense selling pressure.
 
The S&P BSE automobile index zoomed by 243.48 points, metal index augmented by 197.05 points and oil and gas index rose by 115.92 points.
 
The S&P BSE IT index receded by 188.49 points and Teck index declined by 87.10 points.
 
Major Sensex gainers during Wednesday's trade were: Hindalco Industries, up 9.64% at Rs.81.90; Vedanta, up 5.83% at Rs.90.70; Tata Steel, up 4.25% at Rs.236.80; ONGC, up 3.99% at Rs.256.90; and Bajaj Auto, up 3.14% at Rs.2,452.30.
 
The major Sensex losers were: Axis Bank down 1.92% at Rs.496.90; Infosys, down 1.88% at Rs.1,133.15; Wipro, down 1.78% at Rs.589.10; Bharti Airtel, down 1.66% at Rs.343.30; and Tata Consultancy Services (TCS), down 1.51% at Rs.2,655.10.
 
The top gainers and top losers of the major indices are given in the table below:
 
 
The closing values of Asian indices are given in the table below:
 
 
 
 

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Nifty, Sensex still on track for a rise – Tuesday closing report
Nifty has to stay above 8,075 for the rally to continue
 
We had mentioned in Monday’s closing report that Nifty, Sensex would rally further and that Nifty has to stay above 8,025 for the rally to continue. The major indices in the Indian stock markets were able to sustain the gains made in Monday’s trading and closed marginally higher. Bank Nifty however, closed marginally lower. 
 
 
Profit booking coupled with caution over the upcoming quarterly results had earlier during the day subdued investor sentiments and led both Sensex and Nifty to give up their morning gains. Furthermore, both indices had receded after key data showed a fall in services output for the month of September 2015. The Nikkei purchasing managers’ index (PMI) services data for September fell to 51.3 from 51.8 level in August 2015.
 
Rupee too gave up its early gains and depreciated by 13 paise to close at 65.41 to a US dollar from its previous close of 65.28 against the greenback. It touched a day's high of 65.11. Market observers cited value buying and continuation of positive momentum due to last week's monetary easing for the gains.
 
Sector-wise, consumer durables, fast moving consumer goods (FMCG), oil and gas, healthcare, metal and automobile stocks witnessed healthy buying. However, information technology (IT), technology, entertainment and media (Teck) and banking stocks came under intense selling pressure.
 
The S&P BSE consumer durables index zoomed by 478.21 points, FMCG index rose by 189.01 points, oil and gas index gained by 169.71 points, healthcare index rose by 167.25 points, metal index was higher by 149.83 points and automobile index edged-up by 107.59 points. However, the S&P BSE IT index fell by 138.48 points, Teck index declined by 51.85 points and banking index was lower by 45.66 points.
 
Major Sensex gainers during Tuesday's trade were: Tata Motors, up 5.81% at Rs.333.50; ITC, up 4.21% at Rs.342.90; Coal India, up 4.02% at Rs.342.75; Cipla, up 3.36% at Rs.663.55; and Gail, up 3.17% at Rs.307.95.
 
The major Sensex losers were: BHEL down 2.82% at Rs.198.05, Infosys, down 2.17% at Rs.1,154.85, Maruti Suzuki, down 1.32% at Rs.4,357.30, NTPC, down 1.30% at Rs.125.75 and Axis Bank, down 1.05% at Rs.506.65.
 
The top gainers and top losers of the indices are given in the table below:
 
 
The closing values of the major Asian indices are given in the table below:
 
 

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