Weekly recaps of Stock: Markets settled higher on GST respite

stock market weekly report Stock Markets settled higher on GST relief on Friday, but post weekly loss to some extent. Nifty registered marginal profit taking and lost over 1% in the passing week. The Bank Nifty index has been consolidating in a narrow range close to its record high, while Nifty IT index surpassed the benchmark index and spurted strongly in the passing week.

The key benchmark Sensex & Nifty overcame a spell of the extreme end volatility to close with modest gains today as investor sentiment got a lift after the GST Council trimmed tax rates on a wide range of items.

The BSE Sensex, after a start at 33,235 levels, rebounded to the day’s high of 33,380.42 in the late afternoon trade of the week ended Friday, but lost some ground to end at 33,314.56, up 63.63 points, or 0.19%, from its earlier close. The NSE Nifty 50 index, after moving between 10,254.10 and 10,344.95, finally ended 12.80 points, or 0.12%, higher at 10,321.75. For the week, Sensex index fell by 371 pts, whereas the Nifty lost 130.75 pts.

The GST Council on Friday provided release to several sectors by reducing tax rates an array of consumer items to 18% from current 28% and cut rates on 177 goods.

Sensex falls 145 points, Nifty below 10,100, Dr. Reddy’s shares gain

stock market down

At 11:20 am The BSE Sensex dropped by 105.68 points, to 32,295, while the Nifty fell 41 points to 10,100.

Asian stock shares struggled for direction on Thursday morning since the US stock markets closed mixed and the Federal Reserve left interest rates unchanged but there is hopes that it expects another increase by the end of the year.

Shares of Divi’s Laboratories gained 2.35 percent at Rs 964.95/share, Cipla gained 1.02 percent at Rs 575.50/share, Glenmark Pharma gained 0.90 percent at Rs 615.70 per share and Aurobindo Pharma gained 0.77 percent at Rs 751.30 per share.

Dr Reddy’s Lab surged over 6.5 percent to Rs. 2462.90 after it has got an Establishment Inspection Report from the US food & drug regulator for its Srikakulam plant. The stock of Dr. Reddy Lab was the major gainer on Sensex, Nifty hitting its highest price since 31 July 2017.

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share market today

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.

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BSE Bonbay

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.

Sensex crosses 32,000 mark, A few top stocks that in focus today

share market up

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.