Sensex trades higher, Nifty reclaims 11,100 ahead of Budget-2018

budget 2018Indian share markets opened higher on Thursday as Finance Minister Arun Jaitley present the last full-year Budget before the Lok Sabha poll in 2019. The market expects the govt to continue following the path of fiscal consolidation and investors are also hoping changes in the direct tax formation including income tax. 

The BSE Sensex was trading at 36,166, up 201 points, while the NSE Nifty50 index was trading at 11,079, up 52 points.

Shares of Vedanta fell over 2% to Rs 333.35 on NSE in early hours after the Company reported 1.8 percent rise in consolidated net profit to Rs 2,173 crore.

Shares of L&T, Mahindra & Mahindra, HCL Tech, TCS, IndusInd Bank, Bajaj-Auto, Hero MotoCorp, were the major gainers on NSE Nifty today with L&T emerging as the leader after stellar Q3 results posted on Wednesday.

Fertilizer stocks were trading higher in view of budget as the sector expects higher allocation to fertilizer makers. Shares of FACT rose 2%, Chambal Fertilizers, GSFC rose 1 percent each, among others.

Nifty Pharma Index declined with Cipla, Lupin, Cadila, Divi’s Lab by 1 percent each.
Meantime, The Indian rupee weakened against USD ahead of Budget announcement. The domestic currency opened at 63.70/dollar, and was trading at 63.68, down 0.13 percneet from its last close of 63.59.

Nifty, Sensex hit fresh record highs on Monday, Investment Stock Future

stock market up Share Market News – Key benchmark indices opened higher on Monday following positive signals from global markets and led by gains in Infosys, L&T and HDFC. The BSE Sensex was trading at 34,361 levels, up 208 points, while the NSE Nifty50 was ruling at 10,618, up 50 points in the later morning hours.

Shares of Sun Pharma, Lupin, Aurobindo, Cipla and GAIL India were the top gainers on Nifty 50, while shares of Bharti Airtel, Asian Paints, Hindustan Unilver and HCL Tech were the top losers in today’s trade. Shares of L&T touched 52-week high after the company won orders worth Rs. 2265.00 croes.

Jaypee Infratech’s share rose nearly 10 percent on reports that Lodha Group and Tata Housing have filed initial bids to take over the company following its insolvency proceedings.

The Nifty Pharma Index rose 2 percent on expectation of a pickup in earnings. Sun Pharm and Yes Bank were among the top gainers on the Nifty50 Index, on the other side shares of Bharti Airtel were the biggest loser.

Stock Market watch out for the week ahead, Monday Nifty Prediction

stock market weekly reportsThe benchmark index of BSE slumped on week ended Friday by 316.41 points to settle below 33K mark to 32,832.94 following the worries on the country’s fiscal deficit
and global risk aspects such as rising crude prices.  The NSE too slipped by 104.75 points to 10,121.80. 

In economic front, India’s gross domestic product (GDP) growth recovered to 6.3% in quarter ended Sept 2017 from a low of 5.7% recorded in the previous quarter ended June 2017.

Week Ahead Expectations: The result of the RBI monetary policy meeting, Global markets, FPIs & DIIs investment volume coupled with Rupee v/s Dollar movement and crude oil price will be some of the factors to dictate the market trend on next week.

The RBI’s monetary policy committee will meet on 5th and 6th December 2017 for the fifth bi-monthly monetary policy decision for the fiscal 2018.

The Gujarat elections will also be expected to get triggered markets directions next week.
In the primary market, hospital operator Shalby Limited is seeking to raise up to Rs 4.8 billion by selling IPO in a price range of Rs 245 to 248 which will be open for subscription between December 5 & 7 December 7.

Meanwhile, Indian logistics Service Future Supply Chain Solution’s IPO to raise up to Rs 6.5 billion will open next week, adding to what has been a record year for IPO sales in the country. The offer will be open for subscription from December.6 to 8, as per notice.

28 Nov Sensex, Nifty open lower on Tuesday, R-Com shares falls

Sensex Nifty falls Sensex & Nifty started little changed on Tuesday on a flat note with negative bias. At 10.30 am, the BSE Sensex was lower by 15.68 points at 33,708.76, while the NSE Nifty 50 fell 3.30 points to 10,396.25.

Shares of Reliance Communications (RCom) fell 7 percent after China Dev Bank has become the first lender to charge a case against Reliance Communications under the Insolvency & Bankruptcy Code

Shares of Eris Life sciences gain on outperform by 3.5% after brokerage firm Credit Suisse has initiated outperform rating with a price target of Rs. 770 a share.

The Indian rupee followed the stock market trend, dropping 7 paise at 64.57 versus the US dollar in the early trade.

Shares of Maruti Suzuki, Cipla, HDFC, Bajaj Auto, Adani Ports and Axis Bank, were the major gainers today in early hours, rising up to 0.7% while Power Grid, ONGC, ITC, NTPC, ICICI Bank, Asian Paints were laggards up to 1.6%.