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.