Stocks
Nifty, Sensex struggling to rally – Thursday closing report
Nifty will weaken below 8,840, while Bank Nifty is already showing signs of weakness
 
In Wednesday’s closing report, we had mentioned that the uptrend on NSE’s CNX Nifty may weaken, if it closes below 8,820. The 50-share index opened Thursday higher and moved in a range upto 10.20am, after which it started moving sharply lower. However, from 2pm, the benchmarks, Nifty and S&P BSE Sensex started rallying sharply higher. In the next 80 minutes, the Sensex went up by 450 points non-stop. Finally, the indices managed to come back above Wednesday’s close and ended the day marginally higher.
 
Sensex opened at 29,435 while Nifty opened at 8,883. Sensex moved from the low of 29,108 to the high of 29,523 and closed at 29,462 (up 142 points or 0.48%). Nifty hit a low 8,794 before rising to a high of 8,913 and closed at 8,895 (up 26 points or 0.30%). NSE recorded a volume of 111.64 crore shares. India VIX fell 2.46% to close at 20.3975.
 
There were reports that the Indian government could consider subsidy for raw sugar exports at a cabinet meeting later in the day.
 
In a notification issued on Wednesday, the Reserve Bank of India (RBI) said, "Nominated banks are now permitted to import gold on consignment basis. All sale of gold domestically will, however, be against upfront payments. Banks are free to grant gold metal loans". 
 
Coming back to the stock market, Jindal Steel & Power (25.59%) was the top gainer in ‘A’ group on the BSE. There are reports that the company has won Gare Palma IV/2 and IV/3 blocks in the ongoing coal block e-auctions. The company is reported   to have won the bids at Rs108 per tonne for both the blocks, which have a mining capacity of about 6 mtpa.
 
Suzlon Energy (6.53%) was the top loser in ‘A’ group on the BSE. The stock was the top gainer of the group on Wednesday following reports that Dilip Shanghvi Family and Associates have made an open offer to buy another 26% stake for Rs2,837 crore in the company.
 
Sesa Sterlite (6.95%) was the top gainer in Sensex 30 pack. Its subsidiary Bharat Aluminium Company won the Chotia coal block in Chhattisgarh for Rs3,025 per tonne, according to the results of e-Auction for Schedule II coal mines announced by the Ministry of Coal on Tuesday. Wipro (1.36%) was the top loser in the Sensex 30 stock. 
 
On Wednesday, US indices closed flat with a negative bias. Minutes from the latest Federal Reserve meeting showed that policymakers were concerned that a premature rise in interest rates could hurt US economic growth and recovery in the labour market.
 
Among the Asian indices, which were trading today, Nikkei 225 rose 0.36,% while NZSE 50 fell 0.26% and SET Composite index of Thailand fell 0.20%.
 
Japan's exports continued to rebound in January, while imports shrank. Exports for the month grew 17% from a year ago, according to data released Thursday by the Ministry of Finance. Imports decreased 9% as the price tag for inbound shipments of crude oil was dramatically smaller. The trade balance came to a deficit of 1.18 trillion yen, marking the 31st straight month of shortfalls.
 
European indices were showing mixed trading while US Futures were trading flat.
 
Greek officials are reportedly planning to submit a proposal to Eurozone finance ministers for breaking the impasse in debt negotiations between the new government in Athens and Greece's European creditors.
 

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Delhi police arrests five for leaking govt documents

According to media reports, some of those arrested by Delhi police have been accused of leaking confidential information to business houses to tweak government's policy decisions

 

The Crime Branch of Delhi Police has arrested five people, including two officials from the Petroleum Ministry. According to media reports, these people were allegedly trying to get or leak policy documents related with different ministry.
 
A journalist has been detained and is being interrogated for some classified documents found in his possession, says a report from Times of India.
 
 

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MF investments in software stocks rises 10% to Rs35,000 crore
Mutual funds’ investments in software stocks stood at Rs35,463 crore as on January 2015, accounting for 9.97% of their total equity AUM of Rs3.55 lakh crore
 
Continuing with the bullish stance on software stocks, mutual fund (MF) managers raised their exposure in the sector to a historic high of over Rs35,000 crore in January this year.
 
In comparison, investment in software stocks was at Rs27,772 crore in January 2014.
 
MFs collect funds from various investors for investing in securities such as stocks, bonds, money market instruments and similar assets.
 
Their investments in software stocks stood at Rs35,463 crore as on 31 January 2015, accounting for 9.97% of their total equity assets under management (AUM) of Rs3.55 lakh crore, according to data available with the Securities and Exchange Board of India (SEBI).
 
The previous high was in November last year when investment in the sector stood at Rs34,674 crore.
 
Software was the second most preferred sector, after banking, with an exposure of Rs76,000 crore.
 
Besides, pharmaceuticals have an exposure of Rs24,366 crore, auto (Rs23,178 crore) and finance (Rs21,993 crore).
 

 

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