31 Aug Live- Sensex down 71.10 Pts, Nifty lower ahead of Aug F&O expiry

ONGC, Biocon, Tata Motors, Maruti Suzuki, Ajanta Pharma, RIL, Fortis Health are few of the stocks among others to watch out for in today’s trade today, 31 August 2017.

Oil & Natural Gas Corp (ONGC) is about to seek consent of shareholders to raise a debt of Rs 25,000 crore to fund the planned acquisition of Hindustan Petroleum (HPCL). ONGC has endorsed raising the debt and would take the proposal to shareholders soon.

India’s major auto players Tata Motors and Maruti Suzuki look forward to a slump in demand after the cabinet has approved an ordinance that will permit the cess on sports utility vehicles (SUVs) and larger passenger cars to be raised at 25% from 15% under the GST regime.

Future and Option (F&O) watch:

Benchmark indices opened on a careful note ahead of the expiry of August (F&O). With a single session left in August series, market rollovers moved to 53 percent compared to average roll-overs of 57 percent for last three series. Market wide F&O open interest is Rs 1.36-lakh cr. approx, as compared to Rs 1.40 lakh crore on the D-1 of July expiry.

Live market: Benchmark indices in the meantime are trading with weak note while broader market indices carry on trading in positive terrain. At 10.25 am, the BSE Sensex was trading at 31,596 down 50 points, while Nifty ws trading at 9874 down 10 points.

Elite Investment Advisory- Stock Analysis of Wednesday’s trade

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Elite Investment analyses the market in such a way that Sensex, Nifty rose on the back drop of a revival in the global markets, The intensity of rain havoc in the financial capital helped pick up risk appetite to a great extent. A low-spirited rollover numbers gives the concerning impression, but considerable short covering was observed in the IT and pharma sectors, keeping market optimistic. Speculators were covering up their short positions prior to the August derivatives contract being expired tomorrow added to the upward move. 

A view at Stock Market: Domestic stocks witnessed a gap up opening triggered by mostly positive Asian stocks and held firm till early afternoon trade. Stocks cut gains in mid-afternoon trade, however, it hovered in positive zone in late trade.

At closing bell, the BSE Sensex was up 258.07 points at 31,646.46 and the NSE Nifty rose 88.35 points to 9,884.40.

30 Aug Sensex up 235 Pts, Stocks trade with decent gains in morning trade

Stocks of NTPC followed by Infosys Ltd, DLF Ltd, Ashok Leyland, Hindalco and Bank of Baroda were among the most active stocks in terms of volume on NSE in Wednesday’s morning session. Positive Asian cues supported the sentiment. Pharma stocks, metal stocks, realty & auto stocks surged over 1%. In the Nifty pack, Hindalco, Adani Ports, Ambuja Cements, IOC, Aurobindo Pharma and Vedanta were gaining. 

Regarding NTPC Ltds’ disinvestment start, the govt’s 5 percent stake sale in NTPC got off to a flying start with 86 percent of shares reserved for institutional investors is getting subscribed by today afternoon.

At 10.25 am, the BSE Sensex was up 234.59 pts at 31,622.98 and the NSE Nifty-50 rose 80.85 points to 9,876.90.

In the economic front, FM Arun Jaitley said that India’s first GST collection hit Rs. 92,283 cr in July, surpassing the target of Rs, 91,000 crore.

Commodity, Gold, currency tips: COMEX Gold rose, Rupee hits near 3-week high

The Indian rupee today, 28 August 2017, strengthened past 63 marks to hit near three-week high against the US dollar, tracking gains in its Asian peers and local equity markets. The rupee gained 6.25% so far this year, while FII inflows hit USD 7.12 billion in equity markets and USD 19.50 billion in debt markets.

Crude oil futures were on higher side last day on extended buying support following an extremely weak undertone in the US dollar and steady cues from equities. The crude oil production recorded a gain of 0.3percen on the week at 9.53 mn bpd and there was an increase of 11.5 percent over the year.

Gold & Silver were trading higher in early trading on Monday due to buying in precious metals by jewelers. COMEX Gold rose Friday, 0.5%, to settle at USD 1,297.90 per ounce, the highest in two months extending weekly gains after downbeat economic data. MCX Gold closed around Rs 29160 per 10 grams, up 0.22% on the day.

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Stock Market opens higher on Monday. The Nifty also rises in opening hours after a long weekend. Infosys Ltd was holding its opening gains and was trading at Rs 941.65 share apiece, up by 3.23%. Infosys stock is contributing the most to Nifty and Sensex gains. Infosys, Eicher Motors, Aurobindo Pharma, Adani Ports and NTPC were the top gainers in Nifty pack.

Infosys shares advanced 2.95% to Rs 939.40 on BSE after the company appointed Nandan Nilekani as the board chairman with immediate effect. Hindustan Oil Exploration(HOEC) gained 7.6% intraday on the back of its launch of commercial production at Dirok field.

Other than Infosys, DLF, Vedanta, Bank of Baroda ICICI Bank and HDFC were the most active stocks based of volume on NSE in the morning hours. Pharma stocks, IT, Realty, and auto stocks were keeping buyer’s attention.

At 10.50 mornings, Sensex was trading at 31,764 levels up by 168 points, while Nifty was at 9,912 levels up 56 points.

Stocks for the day: Pharma stocks gain, Infosys shares jump

Shares inched up in thin trade today with gains in IT stocks. Stocks of Infosys Ltd rose 2.4 percent. Shares of state-run lenders PNB and Allahabad Bank fell 1.5% and 1.8%, respectively. The Sensex was up 28.05 pts at 31,596.06, while the Nifty was up 4.55 pts at 9,857.05, on closing.

Pharma stocks like Sun Pharma and Lupin gained over 2.5 percent each. Shares of brewers surged after the S.C clarified that the liquor ban on highways did not apply to licensed establishments falling within municipal boundaries. Stocks of United Spirits Ltd and Globus Spirits Ltd rose between 5 percent and 13 percent. Pharma stocks were the top gainers on Sensex and Nifty, while Bajaj Auto, Adani Ports and HCL Tech were the top losers.

Commodity Market: Gold price today,Oil prices fall on worries of oversupply

Forex trading

Oil prices slipped early on Wednesday, pressed between concerns of oversupply, on account of rising Libya output, and worries of reduced future investment in the industry.  Brent crude oil futures, were at USD 51.61 per barrel at down 0.5%, from their previous close. 

Gold: Price of Gold inches on a strong dollar today with investors looking for direction from geopolitical significance and the central banking conference this week in U.S.

The MCX Gold futures closed down 0.62 percent at Rs, 29,100 per 10 grams on Tuesday close after testing a low near Rs 29,000.

Agri-commodity: The Agri-commodity such as Chana, crude palm oil falls on sustaining its spiraling streak for the second day. Chana prices shot up by 1.59 percent to Rs 5,759/ quintal in futures trade Wednesday, since participants engaged in adding their positions, with a strong trend at spot market on rising demand. 

22 Aug Stock News:Four Stocks drop ex-dividend, Best Stock Tips today

Shares of Manapuram Finance, Triveni Engg, Pfizer Ltd & ManInfra settled in red on turning ex-dividend on Tuesday, 22 August 2017.

Shares of Manapuram Finance Limited fell 2.38% to Rs 92.30 as the stock turned ex-dividend of Rs 0.50/share for the year ending 31 March 2018. Triveni Engg & Industries lost 1.33% to Rs 89.20 for interim dividend of Rs 0.25/ share.

Pfizer Ltd fell 0.63% to Rs 1,767 for total dividend of Rs 20/ share for the year ended 31 March 2017. Man Infra-construction lost 0.54% to Rs 64.05 for final dividend of Rs 0.54/ share for the year ended 31 March 2017.

The BSE Sensex re-bounded and NSE Nifty advanced in early trade Tuesday on fresh buying amid a strong trend in Asian markets. At 10.40 am, the 30-share index was trading higher by 42.37 pts to 31,301 and the Nifty up at 16.65 pts at 9,771.

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The BSE index, Sensex opened higher on Monday against the previous session’s closing. The NSE’s Nifty also rose in the morning hours. The shares of Tata Steel, ICICI Bank, ONGC and rose, while Asian Paint and Infosys fell in morning hours.

Stocks through the news: Infosys Ltd nods share buyback at 24.57 percent premium. The Company has announced buyback of shares worth Rs. 13,000 cr. It will buy back shares totaling up to 4.92% of the paid-up equity capital by way of tender route @ Rs. 1,150 per equity share.

Indian Hotels Co. Ltd plans to raise about Rs. 1,000 cr, through a rights issue to its expansion of fund. Indian Oil Corporation Ltd will invest about Rs. 52000.00 cr, for refinery expansion of the Paradip refinery and establishing a petrochemical complex.

Reliance Communication:  Reportedly, three creditors of RCom and Aircel could challenge the discharge of their right to call for a meeting of by the National Co. Law Appellate Tribunal (NCLAT).

Meantime, Public sector Bank goes on strike on 22 Aug 2017, since the United Forum of Bank Unions have threatened to go on strike against the govt’s proposed consolidation move.