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Nifty hovers around 8,460; ITC, HDFC down over 1%
Posted on 27th November 2014
Markets continued to trade flat with stock specific action seen ahead of the expiry of November derivative contracts today.

At 1:15PM, the 30-share Sensex was down 41 points at 28,345 and the 50-share Nifty was down 10 points at 8,466.

In the broader market, both BSE midcap and smallcap indices are outperforming their larger peers with gains of 0.4% and 0.5% each. Market breadth in BSE was positive with 1,412 advances against 1,272 declines.

On the macro-economic front, a Reuters survey has estimated the GDP growth rate for the July-September quarter to come around 5.1% down from 5.7% in the previous quarter. The official figures will be released tomorrow by the government.

Today, the 12-nation Organization of the Petroleum Exporting Countries will hold one of its toughest and most significant meetings in recent years in Vienna, with members under pressure to address falling prices, which have sunk 30% since June.

Meanwhile, foreign institutional investors were net buyers in Indian equities worth Rs 181.46 crore on Wednesday, as per provisional stock exchange data.

The rupee is trading at 61.85 versus Wednesday's close of 61.84. However, the dollar is likely to firm up on the back of demand from importers to meet month-end commitments.

BSE Consumer Durables index was the top loser down nearly 1% followed by Capital Goods, FMCG, Auto and Bankex indices.

ITC and HDFC which had led gains in the previous session witnessed profit taking and were down 1.2-1.5% each.

Bank shares also witnessed profit taking at higher levels with SBI, ICICI Bank, HDFC Bank and Axis Bank down 0.6-1% each.

However, IT shares have seen fresh buying on back of positive macro-economic data from US, the primary markets for Indian IT majors. Infosys was up nearly 2% while TCS and Wipro are up 0.3% each.

Currency devaluation in Nigeria continues to weigh of stocks of Bharti Airtel and Bajaj Auto losing 1.9% and 0.3%, respectively.

Among other shares, Era Infra Engineering was locked at 5% lower circuit at Rs 6.25 on BSE after IFCI sold 14.25 lakh shares of the company at Rs 6.61 per share in a bulk deal on NSE yesterday.

Dr Datson Labs has gained around 3% to Rs 14 on BSE after being voted as "Transformational & Come Back Company of the Year" at Historic 7th Annual Pharmaceutical Leadership Summit & Business Leadership Awards 2014.

Related Companies: State Bank of India   ICICI Bank   HDFC Bank   Bajaj Auto Limited

Other Latest News
Sensex cracks over 300 points; Nifty below 11,700
Posted on 22nd April 2019
The benchmark BSE Sensex cracked over 300 points in early trade on Monday tracking losses in index heavyweights RIL, HDFC and ICICI Bank, amid weak global cues, sinking rupee and soaring crude oil prices.

The 30-share index was trading 309.56 points or 0.79% lower at 38,830.72. The NSE Nifty too plunged to 101.80 points, or 0.87%, to 11,651.


Rupee falls 47 paise to 69.82 against US dollar in early trade
Posted on 22nd April 2019
The rupee fell sharply by 47 paise to 69.82 against the US dollar in early trade Monday on higher demand for the greenback from importers and banks.

Forex dealers said besides increased demand of the US currency from importers, lower opening of the equity markets weighed on the rupee.


Sri Lanka blasts: Death toll rises to 290; 13 arrested so far
Posted on 22nd April 2019
The toll in a series of eight blasts targeting mostly churches and hotels in Sri Lanka on Sunday has risen to 290, a police spokesman said Monday.

More than 500 people were wounded in the blasts, he added, in the deadliest violence since the end of the country's long-running civil war a decade ago.


Maruti Suzuki cuts discounts on popular models, all sops to go by September
Posted on 22nd April 2019
Maruti Suzuki has started lowering discounts on several models to drive up sales before it phases out the practice later this year. Dealers FE spoke to said discounts on popular models such as Alto and Dzire were trimmed from Rs 60,000 earlier to Rs 40,000 in April. The discounts would be further lowered and fully phased out by around August or September.

Similarly, discounts on compact SUV Brezza and premium hatchback Swift have been cut this month by around Rs15,000-Rs 30,000 and Rs 35,000, respectively.


Reliance Industries shares slump 3% after GRM fall; should you buy or sell stock?
Posted on 22nd April 2019
Shares of billionaire Mukesh Ambani-led Reliance Industries slumped in trade on Monday morning, after the firm’s GRMs came in at the lowest level since Q3FY15. Reliance Industries shares slumped nearly 3% to hit the day’s low at Rs 1,345.30 on BSE. Notably, the firm has reported a drop in standalone net profit for the first time in 17 quarters.

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