Sensex opens higher for 6th straight day, shares of coal India rise

Sensex Nifty up Benchmark indices gained in the Wednesday morning trade for the sixth consecutive day with Sensex and Nifty hitting all-new lifetime highs led by domestic institutional investors buying ahead of Q3 earnings by blue chips. BSE Sensex traded up by 18.87 points to 34,462, while the NSE Nifty edged down 1.35 points to close at 10,638.35 in the later morning hours.

Shares of Coal India, ONGC, Bharti Airtel, Sun Pharma, ITC and Reliance Industries were the top gainers among the Sensex stocks.

Shares of Coal India Ltd rose over 1 percent extending Tuesday’s gain after the company hiked non-coking coal prices.

Other stocks which also spiked in the opening trades include ONGC, Sun Pharma, Bharti Airtel, Reliance, Adani Ports whereas Asian Paints, Wipro, Tata Steel, IndusInd Bank and HDFC lost up to 1 percent.

Shares of Infosys Limited rose 0.8 percent after the company said it has signed a pact with the U.S Internal Revenue Services.

Among the sectoral indices of NSE, 6 indices out of 11 were trading in green with Nifty Pharma and Nifty Realty index leading the charge while Nifty Auto and Nifty Bank shed up to 0.3 percent.

Stock Market Watch on Monday, Sensex gains 100 pts, Nifty touch 10,000

nifty high 10,000Stock Market opened higher today following the positive cues after the govt lessened taxes on 27 goods and services in the GST Council meeting after implementation of Goods & Services. BSE Sensex rose 98.40 points at 31,904.62 and NSE Nifty rose 25.50 points at 10,005 at the time of this writing, in the morning hours.

Following tops stocks will be in focus today, among others:-
Shares of Reliance Industries Ltd will be in focus as the company has decided to exit one of its 3 upstream shale gas assets in the US for 126 million dollar, the Mukesh Ambani-led company said.
Tata Teleservices has informed the govt on Friday that the company plans to shut its wireless business, bringing an end to its 21-year old phone services venture. 

Oriental Bank of Commerce announces that RBI has put the bank under Prompt Corrective Action in view of high net non-performing assets.

Adani Enterprises Limited (Adani Group) says that it intends to demerge its renewable-energy business into its associate arm Adani Green Energy, as part of easing overall business formation, as per reports.

Zee Entertainment acquires 100 percent equity stake in 9-X Media Private for Rs 160 crore and acquisition of balance 26 percent Equity stake in Zee Turner.

Rupee Watch: Indian Rupee opens marginally higher against USD and was trading at 65.34 per dollar, up 0.05 percent from its Friday’s close of 65.37.

Weekly Reports -Stock Overview for the week ended Sept.1, 2017

stock weekly reports

The benchmark indices BSE Sensex and the Nifty 50 index clocked impressive gains in the week ended Friday, 1 Sept 2017 on positive global cues. Except sharp losses on Tuesday, 29 August 2017, the two key indices registered modest gains in 4 trading days of the week.

Through the week, a stellar auto sales and cheering August manufacturing data supported investors put behind the unsatisfactory GDP numbers. The benchmark Sensex went up 162 points to end at 31,892.23 as a three-week high, whereas the Nifty closed short of 10,000. Broad market depicted strength. The BSE Mid-Cap index rose 2.84%. The BSE Small-Cap index advanced 3.09%.

Throughout the week following stocks captured attention:

  • Software major Infosys rose 0.83% at Rs 920.10.
    Wipro advanced 2.49% at Rs 296.80.
    Dr Reddy’s surged 6.2% at Rs 2,217.35.
    Lupin rose 0.18% at Rs 993.50.
    Maruti Suzuki India rose 2.77% at Rs 7,812.70.
    Bajaj Auto jumped 6.74% at Rs 2,918.65.
    Reliance Industries rose 2.68% at Rs 1,609.35.
    L&T rose 0.74% at Rs 1,139.70.

Market week ahead: A slew of companies will be announcing their April-June 2017 quarterly results next week, which include Skipper & Tamilnadu Petro products, Digjam and Indian Hume Pipe, Vaibhav Global and Honda Siel Power Products, Hotel Leela venture & UFO Moviez India.