Stock, currency markets shut today for Muharram

Domestic stock exchanges, currency as well as debt markets will remain closed on Tuesday on account of Muharram. The commodities market will …
Domestic stock exchanges, currency as well as debt markets will remain closed on Tuesday on account of Muharram. The commodities market will also remain shut during the first session from 10 am to 5 pm.

Asian stocks traded mixed this morning after a global bond sell-off and their US peers snapping three days of gains. Treasury yields stabilized after Monday’s climb.

Equities saw a modest rise in Tokyo and Seoul, and dipped in Sydney. S&P 500 futures edged higher after US stocks closed flat with sectors that had driven a recent rally such as health-care, tech and real estate underperforming. UK contracts were little changed after the British Parliament again rejected an early election. The pound was steady.

On Monday, India’s benchmark equity indices ended higher following gains in select financial stocks amid firm global cues. The 30-share BSE Sensex closed 163.68 points, or 0.44 per cent, higher at 37,145, while the 50-share Nifty index settled 56.85 points, or 0.52 per cent, up at 11,003.

“Nifty will remain in the range of 10,800-11,200 this week. Traders should sell on the rise,” said Nirav Chheda, derivatives & technical analyst at Nirmal Bang Securities.

Equity markets would track announcement of some key macroeconomic data points in this holiday-shortened week for further cues.

Vinod Nair, Head of Research, Geojit Financial Services, said the market reversed its early losses on Monday based on the positive view in the global market that interest rate will be eased further by ECB. “Global uncertainties like Brexit and US-China talks will be watched carefully by the market. While domestically, data like CPI, IIP, and FII inflows during the week will be assessed to understand whether the worst for the economy is over or weakness will continue in the short term,” he said.

Overseas investors have already pulled out a net of Rs 1,263 crore from the capital markets in the first week of September amid global headwinds even as the government rolled back enhanced surcharge on FPIs. They remained net sellers for the previous two months, pulling out Rs 5,920 crore in August and Rs 2,985 crore in July from the domestic capital markets (both equity and debt).

FPIs withdrew more than Rs 30,000 crore from the equities during July-August after Finance Minister Nirmala Sitharaman in her maiden Budget enhanced tax surcharge on them.

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Markets Live: Equity indices edge down, Sensex skids 160 points to 37291

RBL Bank has been the stock market darling ever since it hit the primary market in 2016. But the stock has come under severe pressure recently, …

12:25 pm

Oil prices drop on concern over US economy

Brent crude was up 64 cents, or about 1.1 per cent, at $59.28 a barrel at 0255 GMT. – Bloomberg

Oil prices fell on Thursday for the first time in three days after San Francisco Federal Reserve President Mary Daly sounded a note of concern about the strength of the US economy.

Brent crude was down 31 cents, or 0.5 per cent, at $60.18 a barrel by 0638 GMT, while US crude was down 18 cents, or 0.3 per cent, at $55.60 a barrel. Oil prices rose around 1.5 per cent in the previous session. Click here to read in full the global oil markets report.

12:15 pm

Indiabulls Housing Finance shares drop 8% on Nifty replacement

Shares of Indiabulls Housing Finance on Thursday dropped 8 per cent as Nestle India will replace the company in the benchmark Nifty 50 index from September 27.

The scrip tanked 7.97 per cent to Rs 420.80 on the NSE. Shares of Nestle India, however, rose 2.97 per cent to Rs 12,890.

Nestle India will replace Indiabulls Housing Finance in the benchmark Nifty 50 index from September 27, the National Stock Exchange (NSE) said on Wednesday.

“The replacement will also be applicable to Nifty 50 Equal Weight Index,” the bourse said in a release. – PTI

12:05 pm

Equities struggle on recession, Brexit fears

MSCI Asia-Pacific index up 1 per cent. File Photo – Reuters

Global bond yields flirted with record lows while stocks inched down on Thursday, as global recession worries from intensifying US-China frictions and the spectre of a no-deal Brexit drove investors to safer harbours.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.15 per cent, Singapore shares hit eight-month lows, while Japan’s Nikkei shed 0.07 per cent.

On Wall Street, the S&P 500 gained 0.65 per cent on Wednesday, due in part to gains in the energy sector following a rebound in oil prices. But US stock futures lost 0.2 per cent in Asia. Click here to read in full the Asian markets report.

11:55 am

USFDA nod bodes well for Unichem Labs

Unichem Laboratories has received ANDA approval from the USFDA for Solifenacin Succinate Tablets, 5-mg and 10-mg to market (a generic version of Vesicare tablets of Astellas Pharma US, Inc). The tablets are indicated for the treatment of overactive bladder with symptoms of urinary incontinence, urgency, and urinary frequency. Unichem will commercialise the product from its Goa plant. Shareholders of the company will closely monitor the execution.

11:45 am

Shell makes Series-B funding in PRESPL

Global energy major Shell, along with SBI Ventures Neev Fund has jointly made a Series-B funding of Rs 55 crore in Mumbai based bio-energy company- PRESPL.

This is the first investment of the Anglo-Dutch behemoth in Indian a bio-energy firm, and has been directly cleared by the Shell management in the Netherlands. Shell clocked $ 388.4 billion in revenues for 2018. Click here to read in full the report on Shell’s Series-B funding in PRESPL.

11:25 am

Govt sops boost sugar stocks

Stocks of sugar companies soared in an otherwise bearish market, with the Cabinet clearing fresh export concessions for sugar mills.

On Wednesday, the Cabinet approved incentives of Rs 6,268 crore ($876.74 million) to encourage cash-strapped mills to export 6 million tonnes of sugar in the sugar marketing year starting from October 1.

Shares of Bannari Amman Sugar rose two per cent to Rs 1,150, Dhampur Sugar Mills was up 0.15 per cent at Rs 151, Shashi Sugar rose 5 per cent at Rs 8, Dharani Sugar was up 17 per cent at Rs 8 and Bajaj Hindustan Sugar was up 4 per cent at Rs 6.

India is expected to produce 285 lakh tonnes of sugar in this sugar marketing year. With an inventory of 145 lakh tonnes, the total sugar supply is expected to be the highest ever at about 430 lakh tonnes, exerting huge pressure on prices. _ Our Bureau

11:10 am

Gold, silver open firm as rupee remains weak

Quick funds: With NBFCs turning cautions to lending, many customers are option for gold loans, say players. – iStock.com

Gold and silver prices opened with marginal gains in the futures market on Thursday as currency pressure prevailed.

On Thursday, the rupee weakened further to inch towards the Rs 72 levels against the dollar. The Indian rupee opened lower at Rs 71.90 and depreciated further to Rs 71.95 in the early trades.

This comes despite Wednesday’s Cabinet announcements triggering positive sentiment for the sugar industry and farmers for increased incomes in the coming days and better job prospects through the 100 per cent contract manufacturing decision. Click here to read in full the domestic gold market report.

11:00 am

Company News: Kalpataru Power Transmission

Kalpataru Power Transmission informed the exchanges on Wednesday that it received a notice from the World Bank alleging process violations in bids submitted by its transmission business on two projects in Africa more than 7 years ago. The company disagrees with the Bank’s position and intends to contest the proceedings vigorously, it added. Shares of Kalpataru Power slumped 6.95 per cent at ₹441.05 on the BSE on Wednesday.

10:45 am

Gold prices tick up on recession fears, trade uncertainty

Gold prices eked out gains on Thursday against the backdrop of recession fears, with traders tracking signs of progress on the US-China trade talks and global central banks for direction on interest rates.

Spot gold rose 0.2 per cent to $1,542.06 per ounce, as of 0331 GMT. On Wednesday, the bullion ended lower but remained around its over six-year peak of $1,554.56 hit on Monday. US gold futures were up 0.1 per cent at $1,550.80 an ounce. Click here to read in full the global gold report.

10:25 am

Rupee falls 17 paise against US dollar in early trade

Identification of currency notes is key to successful completion of cash-based transactions by visually impaired persons – FRANCIS MASCARENHAS

The rupee depreciated by 17 paise to 71.95 against the US dollar in early trade on Thursday, tracking a weak domestic equity market and persistent foreign fund outflows. Pessimism over US-China trade talks also put pressure on the domestic unit, forex dealers said.

However, a weak dollar against other major currencies overseas and softening crude prices restricted the rupee’s fall, they added. Click here to read in full the rupee report.

10:05 am

Sensex, Nifty trade on a weak note

The benchmark indices, the BSE Sensex and the NSE Nifty, were trading around 0.5 per cent lower in early session on Friday. The Sensex was at 37,291, down 160 points or 0.43 per cent lower, while the Nifty was at 11,003, down 42 points or 0.39 per cent weaker on its overnight close.

The top gainers on the Sensex were Sun Pharma, Vedanta, Tata Motors, Maruti and IndusInd Bank, while the laggards were YES Bank, ICICI Bank, HCL Tech, HDFC and Axis Bank.

The healthcare, metals, capital goods and auto sector shares rose between 0.3-0.55 per cent to prop up the BSE index, while the finance, capital goods, IT and technology sector shares weighed on the benchmark index, losing between 0.40-0.65 per cent during the session.

According to an agency report, the Sensex, which dropped over 250 points in early trade, was dragged by heavy selling in banking stocks ahead of the expiry of August derivatives amid weak cues from other Asian markets.

In the previous session, the BSE barometer settled 189.43 points, or 0.50 per cent, lower at 37,451.84. Similarly, the broader NSE Nifty fell 59.25 points, or 0.53 per cent, to 11,046.10.

During the day, investors can expect greater volatility in the market on the back of weekly and monthly expiration of the August futures and options (F&O) contracts, said Shrikant Chouhan, Head Technical Research, at Kotak Securities.

Foreign portfolio investors sold shares worth a net of Rs 935.27 crore on Wednesday, while domestic institutional investors purchased shares worth Rs 359.32 crore, provisional data showed.

The rupee, meanwhile, depreciated 18 paise against its previous close to trade at 71.95 in early session.

Elsewhere in Asia, bourses in Shanghai, Hong Kong, Korea and Japan were trading on a negative note in their respective late morning sessions.

Exchanges on Wall Street ended in the green on Wednesday.

Global oil benchmark Brent crude was trading 0.57per cent lower at 59.59 per barrel. (with inputs from PTI)

9:55 am

Oil prices pegged back by mounting concern over US economy

Oil prices fell on Thursday for the first time in three days after San Francisco Federal Reserve President Mary Daly sounded a note of concern about the strength of United States (US) economy. Click here to read in full the crude oil market report.

9:45 am

Yen on backfoot as returning confidence dulls safe-haven allure

The dollar held gains against the safe-haven yen on Thursday as ebbing recession worries soothed markets after earlier volatility although the pound nursed its losses as investors became increasingly worried about a hard Brexit. Click here to read in full the global forex markets report.

9:35 am

Why the stock of RBL Bank has fallen 40 per cent over the past month

RBL Bank has been the stock market darling ever since it hit the primary market in 2016. But the stock has come under severe pressure recently, losing about 40 per cent over the past month, since it announced its June quarter results. While the bank delivered strong performance, the management indicating possible deterioration in its asset quality in the next 2-3 quarters, had rattled investors. Click here to read in full the report on why the RBL stock has fallen 40 per cent over the past month.

9:25 am

Asian shares struggle on darkening global outlook

MSCI Asia-Pacific index up 1 per cent. File Photo – Reuters

Global bond yields flirted with record low levels while stocks struggled to recover on Thursday as economic turbulence from intensifying United States (US)-China frictions and the spectre of a no-deal Brexit drove investors to safer harbours. Click here to read in full the global markets report.

9:15 am

Opening bell

The Sensex and the Nifty opened Thursday’s session in the red. The Sensex was at 37,283, down 168 points or 0.45 per cent lower, while the Nifty was at 10,988, down 57 points or 0.52 per cent weaker.

9.00 am

Today’s Pick: Tata Global Beverages (₹280): Buy

The stock of Tata Global Beverages jumped 5 per cent breaking above a key resistance at ₹270 on Wednesday. This rally has strengthened the short-term uptrend and also provides traders with a short-term horizon an opportunity to buy the stock at current levels.

The stock has been in an intermediate-term uptrend since early February 2019 low at ₹177. During the uptrend, the stock had decisively breached a key resistance at ₹220 in May and continued to trend upwards. Short-term trend is also up for the stock. Click here to read in full Today’s Pick on Tata Global Beverages.

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Affle India lists at 25% premium to issue price

On the National Stock Exchange (NSE), the stock of Affle India rose 24.3% or 181 points to Rs 926 in the opening session. Moreover, the Affle stock hit …

The shares of Affle India has made a strong debut in the secondary market today. The share price of the advertising and media firm was listed at the upper end of the price band fixed at Rs 745 apiece, on both the bourses today.

On the National Stock Exchange (NSE), the stock of Affle India rose 24.3% or 181 points to Rs 926 in the opening session. Moreover, the Affle stock hit the day’s high 199 points or 26.9% against the listing value at Rs 944.90 and a low of Rs 915.05.

On Bombay Stock Exchange (BSE), the stock price opened at Rs 929.90, registering an initial gain of 186.85 points or 25.1% higher . It then rose 213 points or 28.6% to Rs 958.3 on the exchange. The stock has, however, touched an intraday low of Rs 915.

As per data available on BSE, the Market Capitalisation generated on the very fisrt day of listing stands at Rs 2,200.72 cr.

Volume-wise, the shares changing hands totals to 2.50 lakh and 30.6 lakhs on BSE and NSE, respectively. As of 1020 hrs IST, the stock price of Affle India trades 25.4% higher at Rs 934.50 on BSE and 25.6% higher at Rs 933.90 on NSE.

“The equity shares of Affle (India) Ltd are listed and admitted to dealings on the exchange effective from August 08, 2019, in the list of ‘B-group securities'”, company’s regulatory listing notification said.

The Rs 459 crore initial public offer (IPO) of the mobile marketing company Affle India, conducted from July 29 to July 31 in the price range of Rs 740 to Rs 745 per share, received an overwhelming response in the primary market, with investors over-subscribing as much as 86 times on its final day.

The IPO consisted of a fresh issue of 12.16 lakh shares worth Rs 90 crore and an offer for sale of 49,53,020 equity shares, including anchor portion of 27,72,483 equity shares. The 100 % book built issue IPO was at the face value of Rs 10 with a minimum order quantity of 20 equity shares (Lot size). The IPO received about Rs 206.55 crore from 15 anchor investors on July 26.

Incorporated in 2005, Affle (India) Limited is a leading global technology company with a proprietary consumer intelligence platform that delivers consumer acquisitions, engagements and transactions through relevant mobile advertising.

Read More:

Affle India IPO oversubscribed 86 times on final day

Affle India’s Rs 459 crore IPO opens for subscription; should you invest?

Edited by Rupa Burman Roy

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Buzz around latest NSE tool fizzles out

The Equity Index Futures and Single Stock Futures started trading at NSE Derivatives Market on July 4 in what was aimed at helping investors in the …

The derivatives market at the Nairobi Securities Exchange (NSE) ran into some serious headwinds in its second week of trading, with the total volume of futures contract settled declining significantly.Central Bank of Kenya’s weekly bulletin showed that total volume of futures contract settled in the week ending July 18 declined sharply compared to the previous week. “The total volume of futures contracts settled at the NSE Derivatives Market (NEXT) during the week ending July 18 declined to seven that were valued at Sh416,580 compared to 47 futures contracts valued at Sh2,401,440 in the previous week,” indicated the CBK report.The Equity Index Futures and Single Stock Futures started trading at NSE Derivatives Market on July 4 in what was aimed at helping investors in the primary assets such as bonds, commodities, currencies, stock against market fluctuations.

SEE ALSO :Auctioneer hammer to fall on defaulters of CMA fines

It is from these primary assets that derivatives “derive” their value. The value is based on future expected price movement of an asset. For example, while one trader will bet on a fall in the price of a given stock, others may bet on it rising. The NSE has also set aside Sh130 million in a settlement guarantee fund if a player defaults.Meanwhile, NSE’s equity market, from which NEXT derives most of its activities, had a mixed performance in the week. Total shares, total deals, the NSE all-share index (NASI) and market capitalisation increased by 10.62 per cent, 2.9 per cent, and 0.13 per cent respectively.“However, the equity turnover, NSE 25 Share Index and NSE 20-share index declined by 7.12 per cent, 0.66 per cent and 0.38 per cent, respectively,” said CBK.The NSE 20 Share Index, the benchmark index, declined by 0.38 per cent to 2676.71 points compared to 2686.94 in the previous week.

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Nairobi Securities ExchangeNSE

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Buzzing stocks: YES Bank, ACC, HDFC, Infosys, Maruti Suzuki

It was followed by YES Bank (Rs 30.06 crore), HDFC (Rs 13.82 crore), UltraTech Cement (Rs 12.17 crore), Infosys (Rs 10.92 crore), Maruti Suzuki (Rs …
NEW DELHI: YES Bank with over 0.39 crore shares changing hands was leading among the most traded stocks on NSE on Friday.

Shares of Karuturi Global (number of shares traded: 0.21 crore), Ballarpur Industries (number of shares traded: 0.11 crore), Vodafone Idea (number of shares traded: 0.11 crore), Reliance Communications (number of shares traded: 0.08 crore), Talwalkars Healthclubs (number of shares traded: 0.07 crore), Sanwaria Consumer (number of shares traded: 0.04 crore), DHFL (number of shares traded: 0.04 crore), IRB InvIT Fund (number of shares traded: 0.04 crore) and Ashok Leyland (number of shares traded: 0.04 crore) also featured among the most traded stocks on the NSE.

ACC (Rs 53.23 crore) was leading the pack of most active stocks in value terms.

It was followed by YES Bank (Rs 30.06 crore), HDFC (Rs 13.82 crore), UltraTech Cement (Rs 12.17 crore), Infosys (Rs 10.92 crore), Maruti Suzuki (Rs 10.32 crore), RIL (Rs 9.84 crore), TCS (Rs 6.96 crore), InterGlobe Aviation (Rs 6.91 crore) and Ambuja Cements (Rs 6.91 crore).

The NSE Nifty index was trading 36.90 points up at 11,633.80 while the BSE Sensex was up 110.18 points at 39,007.64 around 09:16 am.

In the Nifty index, UltraTech Cement (up 1.68 per cent), Titan Company (up 1.43 per cent), Vedanta (up 1.32 per cent), Hindalco Industries (up 1.25 per cent) and NTPC (up 1.22 per cent) were among the top gainers.

While Infosys (down 0.54 per cent), Housing Development Finance Corporation (down 0.30 per cent), Wipro (down 0.15 per cent), Maruti Suzuki India (down 0.09 per cent) and Kotak Mahindra Bank (down 0.08 per cent) were the top losers in the index.

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