Thursday, 24 May 2018

Benchmark Indices Traded Higher Amid Consolidation Backed By Technology Stocks

Benchmark indices traded higher amid consolidation, backed by technology stocks. Index heavyweights Reliance Industries, ITC, HDFC also lent support to the market.

The 30-share BSE Sensex gained 140.39 points at 34,485.30 and the 50-share NSE Nifty rose 27 points to 10,457.40 while the Nifty Midcap index continued underperform frontliners, falling half a percent.

Infosys gained 2 percent due to favourable rupee movement that may help IT companies, which exports software services, report good earnings.

The Market Traded Higher After Yesterday's Sharp Fall With The Sen-sex Rising

The market traded higher after yesterday's sharp fall, with the Sensex rising around 100 points despite mixed trend in Asian peers.

The Nifty Midcap underperformed frontliners while IT index outperformed every indices, rising more than 1.5 percent on sharp depreciation in the rupee yesterday.

The rupee recouped some of previous day's losses, trading 12 paise higher at 68.30 a dollar. Yesterday, it had corrected 38 paise to close at 68.42 a dollar.

Wednesday, 23 May 2018

The Rupee Recovered Bit From Opening Lows Falling 12 Paise To 68.16 Against The US Dollar

The rupee recovered a bit from opening lows, falling 12 paise to 68.16 against the US dollar.

It declined 25 paise to hit a fresh 16-month low of 68.29 per dollar in opening trade ahead of the minutes of US Federal Reserve's last policy meet scheduled to be released later in the day.

The greenback strengthened against most global currencies as investors await hints on the pace of further US monetary tightening amid sustained capital outflows, forex dealers said.

The Market Remained Mildly Under Pressure With The Nifty Falling Below The 10,500 Levels

The market remained mildly under pressure, with the Nifty falling below the 10,500 levels following weakness in global stocks.

Metals, oil stocks and HDFC twins pulled the market lower, but SBI, ICICI Bank, Tata Motors and technology stocks capped losses.

The 30-share BSE Sensex declined 66.52 points to 34,584.72 and the 50-share NSE Nifty slipped 38 points to 10,498.70 while the Nifty Midcap index outperformed frontliners, trading flat.

Tuesday, 22 May 2018

The Market Continued To Consolidate As Investors Monitor Corporate Earnings

The market continued to consolidate as investors monitor corporate earnings, and the movement in crude oil prices and rupee.

SBI is down around a percent ahead of March quarter earnings later in the day. Reuters poll estimates say the bank is likely to report a loss of Rs 1,270 crore on higher provisions towards bad loans

IOC and HPCL are under pressure as Brent crude futures trade higher at around $76.5 a barrel on worries over Venezuelan supply.

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Share Price Of Reliance Communications Added 7.5 Percent Intraday Tuesday

Share price of Reliance Communications added 7.5 percent intraday Tuesday after the company appealed before NCLAT against NCLT order.

The company with its two subsidiaries Reliance Telecom and Reliance Infratel today filed appeals before the NCLAT challenging and praying to stay the order of the NCLT, whereby Ericsson applications had been allowed to be admitted for debt resolution under the NCLT Insolvency and Bankruptcy Code process.

Last week NCLT had admitted the petition filed by Ericsson. Ericsson is looking to recover dues of around Rs 1,150 crore from Reliance Communications and two of its subsidiaries.

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Monday, 21 May 2018

Glenmark Pharma Said It Has Received Final Approval From The US Health Regulator

Glenmark Pharma said it has received final approval from the US health regulator for Colesevelam Hydrochloride tablets, 625 mg, the generic version of Daiichi Sankyo's Welchol tablets, 625 mg.

"Glenmark Pharmaceuticals Inc., USA has been granted final approval by the United States Food & Drug Administration for Colesevelam Hydrochloride tablets, 625 mg," the company said in a BSE filing today.

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