Turmeric prices were trading up by 0.80 percent to Rs 7,538/quintal in futures trade today on uptick in domestic and export demand. At the NCDEX, turmeric for delivery in the October month was trading higher by Rs 60, or 0.80% to Rs 7,538/quintal with an open interest of 10,145 lots. Simultaneously, prices of Coriander rose 1.93 percent to Rs 4,551/quintal in futures trade as members widened positions amid rising spot demand, while crude palm oil for delivery this month rose by Rs 1.80, or 0.33% to Rs 543.30/10 kg, in a business turnover of 169 lots. Likewise, the oil for delivery in October went up by Rs 1.20, or 0.22% to Rs 539.80 per 10 kg in 138 lots.
Key benchmark indices opened higher in early trade, Wednesday against the previous day’s closing. The Indian rupee made stronger marginally against the USD. The shares of M&M, Adani Ports and Reliance Industries rose, whereas the shares of Tata Motors and Bharti Airtel fell in the morning hours.
The US Fed Reserve’s 2-day policy meeting will conclude later today. The US central bank is supposed to announce details of its plan to start shrinking the USD 4.5 trillion balance sheet.
Tata Steel has inked MoU for a 50-50 European steel Joint Venture. Its stock rose 1 percent in the morning. Tata Sons has raised stakes in its group firms such as Tata Motors, Tata Chemicals, and TGBL, buying shares worth over Rs 3,200 crore.
Shares of Infosys Ltd rose 0.11 percent at Rs 912.30 after the company announced that Infosys Finacle, a wholly-owned subsidiary of the company announced its partnership with Niki.AI commerce solutions.
The Initial Public Offering (IPO) of SBI Life Insurance Co. Ltd worth Rs 8,400 crore is set to hit the market today, with a price band of Rs 685-700 per share.
Indian stock markets have opened on Monday day in green note. At 10.35 am, the BSE Sensex is trading higher by 199 points at 32,461.58 and NSE Nifty is trading higher by 72 points at 10,157.60. Gains are mainly seen in capital goods stocks, auto stocks and energy stocks. The Indian rupee is trading at Rs 64.07 against the US dollar.
Share price of Bharat Petroleum Corpn (BPCL) opened the trading day on an cheering note up 1.2% after the company was reported that it is in discussions with the country’s largest natural gas transporter GAIL (India) to acquire the govt’s majority stake in it for Rs 180 to 200 billion.
Here is a list of some of the important stocks that are likely to be in focus today:
Steel Authority of India (SAIL) said the company has supplied 80% steel required for the construction of Sardar Sarovar Project, inaugurated by PM Narendra Modi.
Oil marketer Hindustan Petroleum (HPCL) has drawn up investment plans of Rs 7110.00 crore for business expansion in the current financial year. The company merges with ONGC, also planned capex of Rs 61,000 crore for capacity growth over the next five years.
ITC Ltd plans to open 40 new hotels, adding about 5,000 rooms over a period of time, as part of the strategy to make stronger its hospitality business.
Weekly Update- Indian stocks logged strong gains in the week ended Friday, 15 Sept 2017 led by gains in pharma and auto stocks. The BSE Small-Cap and BSE Mid-Cap indices outperformed the Sensex during the week. While the BSE MidCap advanced 217.99 points or 1.38% to settle at 15,972.74, the SmallCap index gained 362.56 pts or 2.22% to settle at 16,687.76.
In the week ended the Sensex rose 585.09 pts or 1.85 percent to settle at 32,272.61. The NSE Nifty index rose 150.60 points or 1.52 percent to settle at 10,085.40.
All through the previous five days, the Sensex had gained 524.44 points on solid global cues on receding concerns on North Korea and sustained buying by domestic investors.
On the macro front, the yearly rate of inflation, based on monthly WPI, figured provisionally at 3.24% for August 2017, corresponding to 1.88% in July 2017 and 1.09% in August 2016, as per data which was announced on Friday, 14 Sept 2017.
The price of Oil soared to their highest weekly rise since on higher demand forecasts and the recommence of refineries in US. The OPEC this week predicted higher demand for its oil in 2018 and pointed to cues of a tighter global market.
Sensex, Nifty are likely to open higher on Friday as Asian shares slipped after North Korea shoot another missile over Japan into the Pacific Ocean today. The Indian rupee on was trading little changed against the US dollar in today’s opening trade.
These stocks will be in focus today:
Metals and mining company Vedanta Ltd has said the State Pollution Control Board Odisha, has directed it to temporarily close five units of its power plants which may have an impact on the cost of production of the aluminium.
IDBI Bank has said that the bank has sold 12.5 lakh equity shares in Clearing Corporation of India for an undisclosed amount.
Bajaj Finance Ltd has allocated 2.6 crore shares to qualified institutional buyers bringing back over Rs 5044 crore.
SAIL India has reported an 18% surged in sales during August over the corresponding month last year.
IPO Watch: ICICI Lombard General Insurance has raised Rs 1625 crore from anchor investors ahead of its IPO sale opening today. It would allot shares to 64 anchor investors at Rs 661 per share.
Price of Gold today took jump from a positive trend overseas by surging Rs 650 per 10 grams to reach Rs 31,000 level, supported by fresh local buying, whereas silver slipped sharply by Rs 350 to Rs 41,500 per kg, on account of softening demand by industrial units and coin makers.
Globally, gold rose by 0.08% to USD 1323.60 per ounce after hitting a 2-week low of USD 1,318.96. Silver also edged up 0.03% to USD 17.75 per ounce in Singapore. In New Delhi, gold of 99.9% purity surged Rs 650 to Rs 31,000 and 99.5% purity surged Rs 30,850 per 10 grams. Gold had lost Rs 650 in the last two days.
However, Sovereign price carried on to be traded at the previous level of Rs 24,700 per piece of 8 grams. But silver ready dropped Rs 350 to Rs 41,500/kg and weekly-based delivery cracked below the 41,000 mark by slipping Rs 370 to Rs 40,930 per kg.
Live Market- Sensex, Nifty open higher on Thursday against the previous session’s closing in the morning hours. The Indian rupee was trading at seven days’ low against the USD. The shares of Reliance Industries, Sun Pharma, Axis Bank rose, whereas the shares of M&M and Wipro fell.
Following stocks, among others, will be in focus today:-
Stocks of Indian Oil Corp (IOC), Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL) will be on watch today as Oil Minister Dharmendra Pradhan today ruled out govt’s intervention to interrupt the daily revision in petrol and diesel prices.
Coal India Ltd is aiming to diversify into new mining areas and the process of finding out the areas is underway, the company said.
Hindalco Industries, the group company of Aditya Birla, plans to prepay another Rs. 1100-crore debts this month to further reducing the level of its debt.
Jet Airways may participate in the second phase of bidding for regional flights under UDAN scheme, but the final decision is awaited.
At 10.30 am, the BSE Sensex is trading at 32,307 levels up 121 points, while NSE Nifty is trading at 10,117 levels up 38 points.
Sensex, Nifty open higher on Wednesday morning hours, against the last session’s closing. The shares of RIL, TCS, Adani Port advanced, while L&T and HDFC shares fall.
Here are a few top stocks that are likely to be in focus today:
Tata Motors shares rises @1.3% to Rs. 392.25 after the company announced its global wholesales up 9% to 94,210 in August, y-o-y.
Jet Airways posted a standalone net profit of Rs 53.50 crore in the April – June quarter, compared to Rs 25.88 crore a year earlier.
Tata Sons’ holding company Tata Chemicals is buying out Tata Global Beverages in Tata Chemicals for about Rs 1458.55 crore.
Daily stocks on focus the Cabinet Committee on Economic Affairs has approved a Dairy Processing & Infrastructure Dev. Fund with a cost of Rs 10,881 crore for 2017-18 to 2028-29 to heighten the dairy sector.
ONGC shares are in focus as the Union Cabinet has approved a Rs 3,000 crore project to acquire seismic data for prospecting of oil and natural gas reserves. National oil companies, Oil & Natural Gas Corporation and Oil India Ltd will implement the project.
At 10.35 AM, the BSE Sensex is trading at 32,231 up 72 points, while NSE Nifty is trading at 10,111 up 19 points. A total of 57 stocks clocked a fresh 52-week high in trade today, while 6 stocks crossed a new 52-week low on the NSE.
MCX Gold extended Losses after breaking Rs.30,000. The metal slipped heavily yesterday due to global prices slipped following a rebound in US equities. US stocks rose following the modest pullback in last week. COMEX Gold has tanked all the more today as Asian equities edged up. The metal quotes at USD 1328.30 per ounce, down 0.62 percent on the day. MCX Gold ended down 1.10 % at Rs 29,930 per 10 grams yesterday and this break under Rs 30,000 levels should extend further today.
Meantime, the Indian rupee dropped further Versus the USD in early trades on Tuesday, 12 Sept 2017 as the dollar strengthened overseas. Gains in domestic equity markets capped some of the losses. The rupee opened lower at 63.98 /dollar against last close of 63.93 /dollar.
Sensex crosses 32,000 mark; Top stocks in focus
Domestic equity markets open on a positive note on Tuesday, against the previous session’s closing with firm global cues. At 10.40 am BSE Sensex gains 130 points, to 32,012, while the Nifty50 rises 39 points, to 10,045. The Indian rupee opened slightly weak against the USD. The shares of Sun Pharma, Tata Steel and Asian Paints climbed, whereas the shares of ONGC and Coal India fell in the morning hours.
A few top stocks that in focus today:
Godrej Industries gained 3% after its arm Godrej Agrovet got Sebi’s go-ahead to raise an estimated Rs 1,000-1,200 crore through an initial public offering.
Stocks of Tata Steel hit an over Six-year high of Rs 692, up 4.7 percent on BSE today morning after Tata Steel UK announced that the British Steel Pension Scheme has been separated from the company. Tata Steel stock was trading at its highest level since January 2011.
IndiGo’s parent arm Inter-Globe Aviation has announced some of its promoter organisations will offload shares under an IPP (institutional placement) programme in which it is expected fresh issuance of shares.
Share holders of Religare Enterprises have approved a proposal to invest up to Rs 500.00 crore in its arm Religare Capital Markets for repaying debt for Mauritius business, and capital needs of India business.
Tata Motors would invest Rs 1,500 crore across various segments of freight-haulers to secure its leadership credentials to help recover some of the lost market-share in the past couple of months.