Thursday, 31 May 2018

Asian Stocks Traded Higher On Easing Of Italian Political Concerns



Asian stocks traded higher on easing of Italian political concerns.

Japan's Nikkei 225 rose 0.43 percent and Australia's S&P/ASX 200 advanced 0.41 percent.

In South Korea, the Kospi advanced 0.44 percent while China's Shanghai Composite rose 1 percent and Hong Kong's Hang Seng gained 0.8 percent.

Asian stocks rebounded from a two-month trough on Thursday. MSCI’s broadest index of Asia-Pacific shares outside Japan tacked on 0.3 percent having slumped to its weakest since the start of April on Wednesday. South Korea’s KOSPI added 0.6 percent and Japan’s Nikkei advanced 0.5 percent.

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The Rupee Strengthened By 6 Paise To 67.37 Against The Dollar At The Interbank Foreign Exchange




The rupee strengthened by 6 paise to 67.37 against the dollar at the Interbank Foreign Exchange ahead of GDP data scheduled to be released later today.

Forex dealers said besides selling of the American currency by exporters and banks, weakness in the dollar against other currencies supported the rupee.
Furthermore, expectations of robust GDP growth and a higher opening in the domestic equity market, influenced the rupee uptrend, they added.
Yesterday, the rupee had ended with a solid 43 paise gain against the American currency at 67.43 after traders unwound bullish dollar positions.

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Wednesday, 30 May 2018

Benchmark Indices Extended Yesterday Losses On Wednesday Tracking Weakness In Global Stocks



Benchmark indices extended yesterday's losses on Wednesday, tracking weakness in global stocks on political turmoil in Italy.

The 30-share BSE Sensex dropped 151.57 points to 34,797.67 and the 50-share NSE Nifty slid 63.30 points to 10,570.

Vedanta, Tata Motors, SBI, ICICI Bank, Bharti Airtel, Axis Bank and Grasim Industries fell up to 2.5 percent.

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The Market Extended Previous Day's Losses With The Sensex Falling More Than 150 Points



The market extended previous day's losses with the Sensex falling more than 150 points following correction in global peers on political turmoil in Italy.

The Nifty50 has broken 10,600 levels while all sectoral indices are in the red barring IT.

Banking & financials pulled the market lower as Nifty Bank and Financial Services indices lost nearly a percent.
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Tuesday, 29 May 2018

The Market Consolidates After Sharp Rally In Previous Three Consecutive Sessions

The market consolidates after sharp rally in previous three consecutive sessions, as investors monitor the movement in rupee and crude oil prices.
The broader markets also traded in line with frontliners while all sectoral indices are in the red barring IT and Auto.
Technology stocks are on buyers' radar after the rupee falls 28 paise to 67.70 against the US dollar.
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Benchmark Indices Opened Mildly Lower On Tuesday Morning Due To Profit Booking



Benchmark indices opened mildly lower on Tuesday morning due to profit booking after three-day run up.

The 30-share BSE Sensex fell 56.44 points to 35,109.04 and the 50-share NSE Nifty declined 21.90 points to 10,666.80.

L&T, Tech Mahindra, TCS, Infosys, HCL Technologies, M&M, Bajaj Finance and Coal India are gainers.

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Monday, 28 May 2018

The IPO Lane Seems To Get Busier As Three Dozen Companies Have Lined Up Initial Share Sale

The IPO lane seems to get busier as three dozen companies have lined up initial share sale plans worth Rs 35,000 crore in the coming months, largely to fund their expansion projects and working capital requirement.

These include six state-run entities - Indian Renewable Energy Development Agency, Rail Vikas Nigam, IRCON International, RITES, Garden Reach Shipbuilders and Engineers and Mazagon Dock -- as the government intends to unlock the real value of such PSUs and bring in greater accountability.

Of these three dozen firms, most of these companies plan to utilise initial public offer proceeds for business expansion as well as working capital requirements, as per the draft papers filed with the Securities and Exchange Board of India.

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The Market Extended Opening Gains, With The Sensex Reclaiming 35,000 Levels

The market extended opening gains, with the Sensex reclaiming 35,000 levels following sharp fall in oil prices and recovery in the rupee.

The 30-share BSE Sensex rose 172.37 points to 35,097.24 and the 50-share NSE Nifty gained 63.40 points at 10,668.60 while the broader markets also traded in line with frontliners.

All sectoral indices are in the green barring IT index that lost nearly a percent following appreciation in rupee.

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Friday, 25 May 2018

Benchmark Indices Traded Higher In Pre-Opening Despite Mixed Asian Stocks.



Benchmark indices traded higher in pre-opening despite mixed Asian stocks.

The 30-share BSE Sensex was up 77.80 points at 34,740.91 and the 50-share NSE Nifty rose 16.10 points to 10,530.

US stocks ended down slightly on Thursday after President Donald Trump canceled a planned summit with North Korea’s Kim Jong Un and threatened to impose tariffs on auto imports, though losses were limited by gains in Netflix and General Electric.

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Benchmark Indices Opened Mildly Higher On The Last Day Of Week Backed By Technology Stocks



Benchmark indices opened mildly higher on the last day of week, backed by technology stocks.

The 30-share BSE Sensex rose 63.47 points to 34,726.58 and the 50-share NSE Nifty gained 16.10 points at 10,530.

GAIL, Infosys, TCS, Yes Bank, Asian Paints, IOC, Bajaj Finance, Indiabulls Housing, Hindalco and HPCL are early gainers.

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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.

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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.

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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.

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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.

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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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The Market Continued To Trade Lower For Fourth Consecutive Session Amid Higher Crude Oil


The market continued to trade lower for fourth consecutive session amid higher crude oil prices and weaker rupee, dragged by HDFC twins, auto, metals stocks and Reliance Industries.

The Sensex is falling more than 100 points while the Nifty Midcap is down more than 1.5 percent.

The market breadth weakened further as about three shares declined for every share rising on the BSE.
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Friday, 18 May 2018

The Market Continued Trade Lower, With The Sensex Falling More Than 100 Points Amid

The market continued trade lower, with the Sensex falling more than 100 points amid higher crude oil prices and corporate earnings.

All sectoral indices are in the red barring FMCG, with the PSU Bank and Pharma indices losing a percent each.

Bajaj Auto is up nearly 3 percent ahead of March quarter earnings as Profit is expected to jump 30 percent year-on-year basis.

The 30-share BSE Sensex was down 113.74 points at 35,035.38 and the 50-share NSE Nifty fell 24.30 points to 10,658.40.

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Shares Of JK Tyre And Industries Rose 8 Percent Intraday As Company Reported Strong

Shares of JK Tyre and Industries rose 8 percent intraday as company reported strong numbers in the quarter ended March 2018.

The company's Q4 net profit was 77 percent at Rs 158.87 crore against Rs 89.48 crore in the same quarter last fiscal.

Revenue from operations was down 1 percent at Rs 2,283.97 crore versus Rs 2309.48 crore.

The board has recommended a dividend of Rs 1.50 per equity share of Rs 2 each for the financial year ended March 31, 2018.

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Thursday, 17 May 2018

The Market Consolidates, Trading Mildly Higher As All Sectoral Indices

The market consolidates, trading mildly higher as all sectoral indices are in the green barring metals.
The Nifty50 is hovering around 10,750 levels while the Nifty Midcap index is up fourth of a percent.

The market breadth remains strong as about two shares gained for every share falling on the BSE.

Tata Steel and Hindalco are top losers among Nifty50, down 2 percent each while TCS, HDFC Bank and ICICI Bank continue to support the market.

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The Power Transmission & Distribution Business Of L&T Construction Has Bagged EPC

The power transmission & distribution business of L&T Construction has bagged EPC orders worth Rs 2,440 crore which include a major order is received under the Saubhagya scheme.

The scope of these packages involves electrification works in urban and rural areas, augmentation of 33/11kV substations and replacement of conductors with aerial bunched cables, L&T said.

An order secured from the Department of Disaster Management for the construction of underground power cable network on turnkey basis in the eastern region of India, it added.

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Tuesday, 15 May 2018

The Rupee Recouped Some Opening Losses, Trading 10 Paise Lower At 67.62 Against The US Dollar

The rupee recouped some opening losses, trading 10 paise lower at 67.62 against the US dollar.

It opened lower by 28 paise to a fresh 16-month low of 67.79 against the dollar in early trade today amid gains in the US currency overseas.

Forex dealers said the dollar strengthened against major global currencies today, having pulled up from its lowest level in more than a week as hopes for easing global trade tensions pushed US bond yields higher.

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Benchmark Indices Remained Strong Amid Vote Counting In Karnataka

Benchmark indices remained strong amid vote counting in Karnataka. So far BLP is leading at 102 seats while Congress is leading at 60 seats and JDS at 49 seats.

The 30-share BSE Sensex was up 216.85 points at 35,773.56 and the 50-share NSE Nifty rose 54 points to 10,860.60.

The market breadth is also strong as about two shares advanced for every share falling on the BSE.

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Monday, 14 May 2018

The Market Is Off Its Day's High As Traders Turn Cautious Ahead Of Karnataka Election

The market is off its day's high as traders turn cautious ahead of Karnataka election results due tomorrow.

The 30-share BSE Sensex was down 1.01 points at 35,534.78 and the 50-share NSE Nifty fell 2 points to 10,804.50. About two shares declined for every share rising on the BSE.

ICICI Bank, Reliance Industries, Tata Motors and technology stocks are under pressure while HDFC twin and ITC continue to support the market.

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Hindustan Unilever Is Likely To Report 12.03 Perc Year On Year Increase

Hindustan Unilever is likely to report 12.03 percent year-on-year increase in the net profit at Rs. 1,326.5 crores, as per a Reuters poll of equity analysts.

Net sales are seen rising 9.26 percent YoY to Rs. 8,850 crore, according to the poll.
Earnings before interest, tax, depreciation, and amortisation are likely to increase 9.5 percent YoY to Rs. 1,900 crore.

Brokerage firms expect volume growth to be in the range of 6-8 percent. Hester Biosciences share price fell more than 3 percent on weak operational performance for March quarter.

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Friday, 11 May 2018

Asian Markets Started On A Firm Footing And The Dollar Eased On Friday

Asian markets started on a firm footing and the dollar eased on Friday as softer-than-forecast US inflation data tempered expectations for faster Federal Reserve interest rate rises this year.

Investor sentiment also got a small boost after US President Donald Trump said he had high hopes of "doing something very meaningful" to curtail North Korea's nuclear ambitions at a summit in Singapore next month.

Clear signs of thawing relationships in the Korean peninsula and the prospect of still expansionary monetary policies in most of the developed world helped whet risk appetite, although concerns remained around U.S.-China trade skirmishes and rising tensions in the Middle East.

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Wall Street Jumped On Thursday, And Apple Inched Closer To A USD 1 Trillion Stock Market

Wall Street jumped on Thursday, and Apple inched closer to a USD 1 trillion stock market value, as tepid inflation data eased worries of faster US interest rate hikes this year.

Fuelled by a USD 100 billion buyback plan unveiled last week, Apple rose 1.43 percent to a record high close of USD 190.04, lifting the S&P 500 more than any other stock. 

The iPhone maker is about 7 percent away from becoming the first company ever to have a market capitalisation of USD 1 trillion.

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Thursday, 10 May 2018

Equity Benchmarks Are Trading Mildly Off The Day’s High Points

Equity benchmarks are trading mildly off the day’s high points, but the Nifty continues t trade around 10,750-mark. Barring IT names, cuts are visible among all sectoral indices now.

The Sensex is up 72.04 points at 35391.39, while the Nifty is up 11.70 points at 10753.40. The market breadth is narrow as 979 shares advanced, against a decline of 959 shares, while 104 shares were unchanged.

The midcap index, meanwhile, is trading over a third of a percent lower. Bharti Airtel, ONGC, and Tech Mahindra continue to be the top gainers, while Power Grid, Dr Reddy’s Labs and HPCL are the top losers.

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Wall Street Surges On Higher Oil After US Quits Iran Deal

Wall Street surged on Wednesday as surging oil prices boosted energy stocks following US President Donald Trump's decision the previous day to quit a nuclear agreement with Iran.

Gains were broad and volume was high, with all but the utilities and telecom sectors advancing as investors who had moved to the sidelines in recent days ahead of Trump's decision returned to the market.

"It's classic 'buy on the terrible news'," said Ian Winer, director of trading at Wedbush Securities in Los Angeles, referring to the wider market's rally. "People had gotten way too nervous about this."

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Wednesday, 9 May 2018

The Stock Has Been Struggling Around The Resistance Zone Of Multiple Moving

The stock has been struggling around the resistance zone of multiple moving averages with moderate volumes on the daily charts.

The daily Relative strength index is showing downward momentum and MACD is trading below the signal line below zero level, which indicates a bearish trend.

A trader can sell the stock after some technical bounce back around Rs 288-290 with a stop loss above Rs 299 for a target of Rs 273.

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Tata Steel Is The Top Gainer On The Sensex, With A Rise Of 1 Percent

Shares have continued to trade flat this morning, digesting the developments coming in from the White House as well as higher crude prices. Selling pressure is visible across sectors, barring IT and metal names.

The sectoral indices have risen up to 1.4 percent. A rally in global commodities has pushed up metal stocks in India. Hindalco and Vedanta are up around 2-4 percent.

Tata Steel is the top gainer on the Sensex, with a rise of 1 percent. Meanwhile, banking stocks are witnessing some profit booking.

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Tuesday, 8 May 2018

Shares Of Granules India Gained 2 Percent In The Early Trade On Tuesday

Shares of Granules India gained 2 percent in the early trade on Tuesday as the company received a US FDA nod for Methocarbamol tablets.

The US Food & Drug Administration approved the abbreviated new drug application filed by company for Methocarbamol tablet 500 mg and 750 mg.

The approved ANDA is the bioequivalent and therapeutically equivalent to reference listed drug of Robaxin 500 mg and 750 mg of Auxilium Pharmaceuticals, LLC.

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IndoStar Capital Finance IPO To Open For Subscription On May 9: 5 Things To Note



IndoStar Capital Finance will soon be approaching the primary market with its public issue, with an aim to raise Rs 2,000 crore.

This includes a fresh capital infusion of Rs 700 crore. The Everstone Capital-backed non-banking finance company’s initial public offering is priced between Rs 570 to Rs 572 per equity share of face value Rs 10.

The IPO, the first in FY19, is scheduled to open on May 9 and close on May 11. Anchor investor allocation will be a day prior to the bid/offer opening date: May 8. 

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Monday, 7 May 2018

Shares Of Lupin Slipped More Than 2 Percent In The Early Trade On Monday

Shares of Lupin slipped more than 2 percent in the early trade on Monday after Credit Suisse highlighted concerns over the volume loss in its diabetes franchise. The brokerage sees a downside of 9 percent on the stock.

Credit Suisse has maintained its neutral stance on the stock with a target cut to Rs 770 from Rs 850, implying a downside of over 9 percent.

It said that there is massive volume loss in diabetes franchise in the US and has cut earnings and target.

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ICICI Bank Was Trading Over 1 Percent Higher In Morning Trade Ahead

ICICI Bank was trading over 1 percent higher in morning trade ahead of March quarter results, which will be declared later in the day.

It has touched an intraday high of Rs 287.45 and an intraday low of Rs 282.95. A more than doubling in provisions for bad loans is seen pulling ICICI Bank’s March quarter net profit down by 52.7 percent in net profit year-on-year to Rs 955.7 crore, according to a Reuters poll. 

India’s largest private sector lender had reported a bottomline of Rs 2,024.60 crore in the same quarter a year ago.

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Friday, 4 May 2018

Bharti Airtel Share Price Rallied Nearly 3 Percent In Morning After A Media Report

Bharti Airtel share price rallied nearly 3 percent in morning after a media report indicated that the company is planning to raise funds through stake dilution in Africa operations.

"Bharti Airtel plans to raise as much as USD 1.5 billion by diluting about a fourth of its stake when it lists the holding company for Africa operations, Bharti Airtel International BV , in early 2019," The Economic Times said quoting people with knowledge of the matter.

Global ratings agency Standard & Poor's today revised down its outlook on the country's largest telco Bharti Airtel to "negative" from stable, following weak financial performance in FY18 and concerns on elevated capex in the current financial year.

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The Market Extended Losses, With The Sensex Breaking 35,000 Levels

The market extended losses, with the Sensex breaking 35,000 levels following weakness in global peers amid US-China trade talks.

The 30-share BSE Sensex was down 132.34 points at 34,970.80 and the 50-share NSE Nifty fell 40.40 points to 10639.30, dragged by index heavyweights Infosys, Reliance Industries, ITC, HDFC that were down up to 1.6 percent.

Sun Pharma, Vedanta, Asian Paints, Bajaj Auto, Wipro and Hindalco Industries among others were down 1-2 percent whereas Adani Ports, ONGC, Bharti Airtel and GAIL gained 1-2.5 percent.

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Thursday, 3 May 2018

PC Jeweller Share Price Fell More Than 10 Percent And Taking Total Nine Consecutive

PC Jeweller share price fell more than 10 percent and taking total nine consecutive days' loss to 68 percent despite the company said it would consider share buyback.

Its chief financial officer has denied any reports of arrests made by the CBI. Stating that the rumour is an attempt to spread panic, the firm assured that they have had no interaction with the CBI whatsoever.

HCC was down 18 percent after auditor says Lavasa’s networth eroded almost completely while InterGlobe Aviation plunged 13 percent post disappointing March quarter earnings.

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Benchmark Indices As Well As Broader Markets Were Trading At Day's Low

Benchmark indices as well as broader markets were trading at day's low following weakness in global peers.

The 30-share BSE Sensex was down 139.78 points at 35,036.64 and the 50-share NSE Nifty fell 57.60 points to 10,660.40 while the Nifty Midcap index slipped over 1 percent.

The market breadth weakened further. About three shares declined for every share rising on the BSE.
FMCG, technology stocks, Reliance Industries and HDFC were under pressure while ICICI Bank and HDFC continued to support the market.

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Wednesday, 2 May 2018

The Rupee Depreciated 7 Paise To 66.73 Against The US Dollar On Fresh Demand

The rupee depreciated 7 paise to 66.73 against the US dollar on fresh demand for the greenback from importers and banks ahead of US Federal Reserve's two-day policy meet outcome.

Dealers attributed the rupee's fall to fresh demand for the US dollar and sustained foreign fund outflows.

On Friday, the rupee had gained 9 paise to close at 66.66 on dollar-selling by exporters and a stellar rally in local equities.

Forex market remained closed on Monday and Tuesday on account of 'Buddha Purnima' and 'Maharashtra Day', respectively.

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Jet Airways, SpiceJet And IndiGo Fall Up To 1% After IOC Hikes Jet Fuel Prices By 6%

Shares of Jet Airways, SpiceJet and InterGlobe Aviation were under pressure on Wednesday morning as investors were wary of hike in aviation fuel prices.

While Jet Airways fell 1 percent, SpiceJet and IndiGo declined between 1 and 1.5 percent, respectively.

Effective May 1, IOC has decided to hike jet fuel to Rs 65,340/KL, implying a hike of 6.5 percent against Rs 61,450/KL in the previous month.

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