Wednesday, 18 October 2017

Equity Benchmarks Remained Lower In Morning, With The Nifty Breaching 10,200 Level

Equity benchmarks remained lower in morning, with the Nifty breaching 10,200 level, weighed by banks.

The 30-share BSE Sensex was down 106.08 points at 32,503.08 and the 50-share NSE Nifty was down 39.50 points at 10,195.00.

The broader markets outperformed benchmarks, trading flat on positive breadth. About 1,029 shares advanced against 926 declining shares on the BSE.

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Axis Bank Cracks 7% After Sharp Spike In Q2 Slippages, Analysts Cut Target Price

Axis Bank share price fell as much as 7.4 percent in morning trade Wednesday as analysts slashed target price on the stock after the sharp spike in Q2 slippages.

While retaining buy call on the stock, Bank of America Merrill Lynch cut its target price to Rs 590 from Rs 650 per share and estimated Rs 12,000 crore of further new slippages in second half of FY18.

"We cut EPS forecasts by 34/13 percent for FY18/19 but good retail franchise value will drive back return on equities to 14/19 percent by FY19/20," the research house said.

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Tuesday, 17 October 2017

The Rupee Dropped By 15 Paise To 64.89 Against The US Currency Today

The rupee dropped by 15 paise to 64.89 against the US currency today, breaking its six-day winning streak.

A spurt in dollar demand from importers amid sustained foreign fund outflows weighed on the rupee.

Dealers said the dollar's gains against some other currencies overseas also impacted the domestic currency.

Yesterday, the rupee had ended at more than three-week high of 64.74 a dollar, surging by 19 paise helped by extremely bullish macro indicators.

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Equity Benchmarks Continued To Consolidate After The Rally In Previous

Equity benchmarks continued to consolidate after the rally in previous three consecutive sessions.

The 30-share BSE Sensex was down 67.46 points at 32,566.18 and the 50-share NSE Nifty fell 12.90 points to 10,218.

The broader markets outperformed benchmarks, with the BSE Midcap and Smallcap indices rising 0.3 percent each. About 1,093 shares advanced against 903 declining shares on the BSE.

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Monday, 16 October 2017

Shares Of Glenmark Pharma Added 1 Percent In Morning

Shares of Glenmark Pharma added 1 percent in morning as it has received approval for Aprepitant Capsules.

Glenmark Pharmaceuticals Inc., USA has been granted final approval by the United States Food & Drug Administration for Aprepitant Capsules USP 40 mg, 80 mg, and 125 mg.

Aprepitant Capsules USP is a generic version of Emend Capsules, 40 mg, 80 mg, and 125 mg, of Merck Sharp & Dohme Corporation.

As per IMS Health sales data for the 12 month period ending August 2017, the Emend Capsules achieved annual sales of approximately USD 64.9 million.

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The Indian Market Is Going Through A Diwali Cheer Phase As Frontline Indices

The Indian market is going through a Diwali cheer phase as frontline indices hit fresh record highs, backed by macro data and steady earnings trend in its first week of the season.

Having said that, these are still early days as companies with good numbers generally declare results in the early part of the season. “Ex-financials, companies in our coverage should have 10 percent growth,” Krishna Kumar Karwa, MD, Emkay Global Financial Services told CNBC-TV18 in an interview.

He expects rural India-focussed stories to do well, especially in the tractor segment. “The valuations are reasonable in some stocks and the government will continue to focus on that segment,” he said, adding that organised retail segment with focus on tier-2 and tier-3 towns were growing as the focus is shifting.

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Friday, 13 October 2017

The Market Breadth Was Positive As About 1,383 Shares Advanced Against 828 Declining Shares

Benchmark indices extend rally in morning, with the Nifty inching towards its previous record high of 10,178.95 hit on September 19.

The 30-share BSE Sensex was up 237.20 points at 32,419.42 and the 50-share NSE Nifty rose 68.90 points to 10,165.30.

The market breadth was positive as about 1,383 shares advanced against 828 declining shares on the BSE.

Bharti Airtel , Reliance Industries and TCS were most active shares on the National Stock Exchange.

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