Indian stock market closed a percent lower on Thursday as investors booked profit after few days of rally. The market was in corrective mood yesterday as well, but somehow managed to close flat by the end of trading session. However, today BSE Sensex was down by 215 points to close at 19781 while NSE Nifty closed 62 points lower.
Tata Power, IDFC, ITC and GAIL were among major gainers today. JP Associates lost 11.6% today. IndusInd Bank, BHEL and Tata Steel were among major gainers, losing over four percent.
Indian currency also witnessed decline compared to USD by the afternoon session. Indian rupee touched high of Rs 62.91 against USD in morning trade. However, it lost ground and witnessed decline to 63.82.
W&G Investments, representing a group of City investors, which is aiming to acquire 315 branches from Royal Bank of Scotland, will receive £55m in annual interest payments from the state-controlled lender ahead of the completion of the deal.
BSE Sensex was down by 2156 points at 2.40 PM IST pulled by ONGC, BPCL, Hindalco and Reliance. Asian Markets closed positive, but most of Indian stocks suffered in today's session. With only 30 minutes left for the trading session, the markets are expected to close lower today.
Reliance Industries and ITC were down by 2%. BHEL, Tata Steel, Hindalco and ONGC were down pulling the indices lower. Among major gainers in today's trade were Jindal Steel, Larsen, HCL Tech and Infosys Technologies.
Indian Stock Market opened the week positive but ended flat by the end of trading session. BSE Sensex ended the day at 20159 while NSE Nifty closed at 6031. Among major losers of the day was Larsen as the company announced weak Q1 numbers.
Two-wheeler arm of German luxury automotive major, BMW Motorrad has entered into an agreement with India's fourth largest two-wheeler maker, TVS Motor Co to jointly develop motor bikes in India.
The two companies are planning to offer `Made in India' bikes in the below 500 CC segment. BMW has already signed the long term joint technical co-operation and manufacturing agreement with the Indian two-wheeler major based in Hosur, near Bangalore.
Indian Stock Market recovered towards the end of the trading session with support coming on heavy weight counters like ITC, TCS and HDFC. Indian markets were also helped by the positive trade in the European markets. BSE Sensex ended the day 51 points higher at 19742 and NSE Nifty managed a close above 6000.
Brokerage house Motilal Oswal has given sell calls for SAIL, JSW Steel and Tata Steel citing tough times for steel sector. Motilal Oswal has given sell rating for JSW Steel with a target price of Rs 478. JSW Steel closed a per cent lower at Rs 844 today.
Indian Stock market closed lower on Monday after registering moderate gains in the first week of year 2013. The market opened slightly lower and in the afternoon session, slipped further as the European indices opened weak.
Goldman Sachs has upgraded growth outlook for China and India. The brokerage house expects Asian region to grow better for year 2013 with focus on India and China.
Pune-based Bajaj Auto Ltd. on Wednesday reported its `highest-ever' December sales, encouraging investors who sent the stock to a 52-week high of Rs 2215 a share.
In a statement to the Bombay Stock Exchange (BSE), Bajaj Auto said that sales of its motorcycle and commercial vehicles jumped 13 per cent and 9 per cent in December 2012, respectively, from the corresponding month of 2011. Consolidated sales and exports grew 13 per cent and 5 per cent, respectively, over the same period.
Indian Stock Markets continued in the positive territory on Thursday as the US markets gained smartly on Wednesday. Stock prices of Gold Loan companies witnessed huge demand after reports of loan valuation for gold ratio increase to 75 per cent.
JSW Steel has increased price of all steel products of the company. The stock price was higher in today's session. Maruti Suzuki and M&M witnessed higher sales during December compared to other auto majors facing tough times.
Indian Stock Market followed global stock market trend and continued the upside movement. BSE Sensex was up by 50 points at 19763 and NSE Nifty was above 6000 with a gain of 15 points. US markets closed positive on January 2 with Dow Jones gaining 2.3%, Nasdaq up by 3% and S&P higher by 2.4 per cent.
Among major gainers in today's early trading session were Dr Reddys Labs, Cairn India, Ambuja Cements, BPCL, IDFC, Tata Steel, ACC and Bharti Airtel. Among major losers in today's session were Tata Power, Lupin, PNB and Maruti Suzuki.
PC Jeweller stock debuted the stock exchanges today with a premium of Rs 5 for retail investors. The company raised Rs 600 crore with public issue at a price of Rs 135 per share. Retail investors were given discount of Rs 5 per share.
The stock managed to rise during the afternoon session and touched intraday high of Rs 154.70 till 2.30 pm IST.
CARE received very good response in the secondary markets.
Gitanjali Gems Limited (GGL) has realigned its business model and divided the business in three verticals- The Diamond and Jewellery Manufacturing, the Indian Branded Jewellery distribution and retailing and the International branded jewellery distribution and retailing. The move has rendered more transparency and visibility to the business. During the period 2010-12, the company clocked a CAGR of ~38% in Net Revenues while CAGR of 56% in Net Profit. We expect better performance during the second half of the year due to a boost in sales during the festive and marriage seasons.
Indian Stock market was trading flat on Monday morning. The BSE Sensex was marginally down at 18733 and NSE Nifty was down by 4 points at 5693. Asian markets were trading lower. Hang Seng was down by 0.3% at 22031, Straits Times was down at 3031 and Nikkei 225 was down by half per cent at 9007.
Among Indian stocks, ACC was up by nearly 2 per cent at Rs 1434. Dr Reddy's Labs and Cipla were up by 1.5% each. Kotak Mahindra Bank was also among major gainers at Rs 620.
Indian Stock market gained on Monday with BSE Sensex up by nearly half a per cent at 18773 and NSE Nifty higher by 22 points. Among major Asian markets, Hang Seng was up by 0.55% while Straits Times and Nikkei 225 were flat.
Suresh Mahadevan, Head Equities at UBS Securities has expressed positive outlook for Indian stock market. He expects that the Indian economy will recover during the second half of the financial year. He also expressed his opinion about expected rate cut from RBI over next 12 months.
Indian Stock market closed positive on Friday with BSE Sensex gaining 126 points at 17,783 and NSE Nifty closing at 5366. During the week, the stock markets have been positive and technical experts are seeing 5400 as major resistance for NSE Nifty. Among various sectors, BSE Auto, Consumer Durables, BSE FMCG and BSE IT indices closed positive.
FMCG major HUL touched 52-week high today. The stock touched high of Rs 505.45 and close at Rs 503, registering gain of Rs 9. Among technology stocks, Infosys, TCS, Mahindra Satyam and Tech Mahindra were among major gainers.
Indian Stock Markets opened positive on Friday but lost ground in afternoon session. The NSE Nifty was in negative zone at 13.52 IST. Asian markets closed positive with Nikkei 225 and Hang Seng closing the session with gain of 0.75 per cent.
The US markets closed positive, on Thursday. Dow Jones touched intraday high of 13269, less than 100 points from 52-week high. European markets have opened positive with DAX, FTSE and CAC showing marginal gains during the early session.
Indian Stock Market gained smartly on Tuesday with BSE Sensex closing at 17728 after registering 95 points gain. NSE Nifty ended at five month high of 5380.
Market analysts are looking at 5400 level as major resistance for NSE Nifty. If the stock markets worldwide continue to rise, we can expect NSE Nifty to touch 5500 level. Dow Jones is near its 52-week high of 13,338. The US market closed marginally lower on Monday.
Indian Stock Market closed at five month high on Monday. The BSE Sensex remained flat during most of the trading session but inched up in the last one hour of trade. BSE Sensex closed 75 points higher at 17633 and NSE Nifty closed at 5347, registering a gain of 27 points.
Indian Stock Markets were trading lower on Friday with BSE Sensex down by 25 points at 17536. US markets closed flat on Thursday and Asian Markets were lower on Friday.
Amit Kasat of Standard Chartered Securities has downgraded Tata Motors after the company declared lower than expected first quarter results. The company's JLR unit would face lower sales and this will have an impact on Tata Motor's profits in upcoming quarters. Amit Kasat has suggested investors to exit Tata Motors on every rally.
Indian Stock Markets ended the recent rally as the depressing June IIP numbers deteriorated investors sentiment. Also, rating agency Moody's has reduced India's GDP growth forecast to 5.5 per cent for 2012-2012. BSE Sensex closed 40 points lower at 17560. NSE Nifty closed 15 points down at 5322.