Friday, 20 July 2018

A Recovery In Midcaps Along With A Surge In IT Space Has Boosted The Market On Friday

A recovery in midcaps along with a surge in IT space has boosted the market on Friday morning. It had begun on a flat note. The Sensex is currently higher by over 100 points, while the Nifty was seen inching towards 11,000.

The rupee touched a new low of 69.12 to the dollar, which has boosted IT stocks. The Nifty IT index is up over 1 percent at this point. Along with it, midcaps have recovered from the low points of the day.

The Nifty Midcap index is up around one-tenth of a percent. Metals are trading weak, led by losses in Vedanta. The stock is down 2 percent. Shares of Reliance Industries has hit a fresh record high. The scrip has gained 46 percent in the past on year.

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Benchmark Indices Have Continued To Trade Strong On Friday Morning

Benchmark indices have continued to trade strong on Friday morning, with the Sensex trading around 150 points higher, while the Nifty has reclaimed 11,000.

The IT index has further extended its gains, while pharmaceutical stocks too are trading in the green. Midcaps, too have strengthened, up almost half a percent on the index.

Infosys, L&T, Bajaj Finance and Bajaj Finserv are the top gainers, while, Vedanta, ONGC, and BPCL have lost the most.

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Thursday, 19 July 2018

Equity Benchmarks Have Begun The Day On A Positive Note With The Sensex Gaining

Equity benchmarks have begun the day on a positive note, with the Sensex gaining over 100 points, while the Nifty has reclaimed 11,000 in the opening tick.

The Sensex is up 106.61 points or 0.29% at 36480.05, while the Nifty is up 24.40 points or 0.22% at 11004.90. The market breadth is positive as 261 shares advanced, against a decline of 105 shares, while 40 shares are unchanged.

All sectoral indices are trading in the green, with maximum gains seen among metals, and automobiles. Midcaps, meanwhile, are trading absolutely flat.

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The Indian Rupee Slipped In The Early Trade On Thursday

The Indian rupee slipped in the early trade on Thursday. It has opened lower by 8 paise at 68.70 per dollar versus 68.62 yesterday.

Rupee fell against the US dollar in yesterday’s session following uptick in global crude oil prices and after the greenback strengthened against its major crosses, said Motilal Oswal.

Following the Fed Chairman testimony the US dollar rose to the highest level in a year. In his testimony, the Fed Chair said he believed the US economy was on course for years more of steady growth, and played down the risks to the US economy of the escalating trade conflict.

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Wednesday, 18 July 2018

The Indian Rupee Opened Marginally Higher At 68.42 Per Dollar On Wednesday

The Indian rupee opened marginally higher at 68.42 per dollar on Wednesday versus 68.45 yesterday.

Yesterday, rupee broadly consolidated in a range but traded with a slight positive bias despite strength in the dollar against its major crosses. Crude oil came under pressure API after reported a surprise crude oil build of 629,000 barrels of United States crude oil inventories for the week ending July 14 compared to expectations that this week would see a draw in crude oil inventories of 3.62mbpd, said Motilal Oswal.

Crude has been one of the major factor that is supporting the rupee and sustained fall in the same could continue to keep losses capped for the rupee.

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After Opening At A Record High The Sensex Is Currently Off Its Opening Levels

After opening at a record high, the Sensex is currently off its opening levels, while the Nifty is hovering around 11,050-mark.

Selling in midcaps is likely to have dragged them from the high points; the Nifty midcap index is trading a quarter of a percent lower. Meanwhile, among sectoral indices, PSU banks and metals are seeing some weakness, while IT and energy sectors are trading in the green.

Share price of PNB, IOB, Andhra Bank, Corporation Bank and Allahabad Bank reacted positively on the government capital infusion plan.

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Tuesday, 17 July 2018

Shares Of Glenmark Pharma Added 1.5 percent In The Opening Trade On Tuesday

Shares of Glenmark Pharma added 1.5 percent in the opening trade on Tuesday as company received final approval from USFDA for Colesevelam Hydrochloride.

Glenmark Pharmaceuticals Inc., USA has been granted final approval by the United States Food & Drug Administration (USFDA) for Colesevelam Hydrochloride for Oral Suspension, 1.875 grams/Packet and 3.75 grams/Packet.

Colesevelam Hydrochloride is a generic version of Welchol 1 of Daiichi Sankyo Inc.

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