Nifty below 11,000, Sensex falls over 300 points, day after budget

sensex downBenchmark indices tumbled early trade on Friday as investors were dissatisfied with the Union Budget 2018-19. The BSE Sensex fell over 300 points, while the NSE Nifty 50 traded below 11,000 in the opening. Investors are liable to pay 10 percent tax on profits more Rs 1.00 lakh made from share sale or equity mutual fund units held for over one year.

The BSE Sensex was trading at 35,329, down 577 points, while the Nifty50 index was trading at 10,833, down 183 points in the later deals.

Financial sector and Banking stocks traded lower. Canara Bank, Kotak Mahindra Bank, IndusInd Bank, ICICI Bank, Axis Bank, State Bank of India and HDFC Bank were down at a tune of 3 to 1 percent, while IT stocks were trading higher with TCS Ltd, Infosys, HCL Technologies, Wipro adding 1.2 to 0.5 percent.

Cigarette Company’s stocks rose after the govt kept the cess on cigarettes unchanged. ITC Ltd gained 2 percent and VST Industries Ltd 3 % in the morning hours.

Across sectors, Nifty PSU Banks Index was down 2 percent while, Nifty IT and Nifty FMCG were trading higher by 0.5% and 0.7%, respectively.

Shares of Ashok Leyland Limited gained 2% after the company’s Q3 net profit was above expectation, while Bajaj Auto stock rose 1% after its sales rose 3,53,147 units in January.

Sensex trades above 34,900, Nifty near 10,760, IT stocks rise

stock market upMarket began on a positive note on Tuesday with key indices opening a little higher as good growth in industrial output and a global shares rally picked up investors’ sentiment. The BSE index Sensex was up 69.80 points at 34,913.31 and the NSE Nifty was up 16 points at 10,757.55 in the morning hours.

Shares of prominent companies such as Tata Consultancy services, Infosys Ltd, Wipro Ltd, HCL Tech and Tech Mahindra inched up in the morning trades.

Shares of Federal Bank fell 3.3 percent to Rs. 110.45 after the bank reported higher gross and net slippages.

Shares of HDFC shed over 1 percent on the back of profit booking after the Company’s share jumped over 7 percent intraday to hit an all-time peak with its M-Cap crossing Rs 3.00 lakh crore yesterday .

Shares of Hindustan Unilever Ltd rose about 1.6 percent to a 52-week high of Rs 1,389 in the morning hours.

Shares of TCS, Wipro, Infosys, Bharti Airtel, and HUL were among the top gainers on BSE Sensex while HDFC, Reliance Industries, Tata Steel, Asian Paints and Power Grid fell upto 1.5 percent with HDFC losing the most.

Investment Advisory, Stock Indices open flat, PSU banks rise, IT companies slip

happy new year Sensex, Nifty started the New Year 2018 on a subdued note, opening flat due to lack of major triggers in the morning session. The BSE Sensex was trading at 34,085, up 28.59 points, while the Nifty 50 was ruling at 10,534.55, up 3.85 points in later morning hours. The BSE Midcap & Small-cap indices were up 0.4% and 0.5%, respectively.

Shares of I.T companies pressured to profit booking, as the Nifty IT index slipped 0.5 percent in early trade, led by near 1 percent losses in Tech Mahindra, TCS and Wipro stocks.

Shares of IndiaBulls Housing Finance rose 3%, SBI rose 0.79%, Indian Oil Corporation rose 0.78%), BPCL rose 0.73% and Airtel gained 0.63% as the top gainers on Nifty50, whereas shares of Infratel, Wipro, TCS, Hindalco and Bajaj Auto were the top losers in today’s trade.

The Nifty PSU Bank index rose 0.4 percent, led by shares of Bank of India, which spiked 4% on Rs22.6-billion capital infusion, while Shares of automobile companies were mostly mixed as the auto sector companies unveil their sales figures of December month, later today.

3 Oct- Stock Watch: Stocks of Auto companies will be in focus today

Indian markets after an extensive weekend began the day on Tuesday with a beat as the BSE Sensex surged 233 points and the NSE Nifty was back on top of 9,850 in the morning hours, on buoyant buying ahead of the RBI policy review. The RBI’s 2-day monetary policy review begin on Tuesday and the outcome is due Wednesday.

These Auto stocks will be in focus rally today
The country’s largest auto company Maruti Suzuki India reported 9.3% growth in total sales at 1,63,071 units in Sept.

Auto stocks

Similarly, Hero MotoCorp, the largest 2-wheeler maker has reportedly sold over a million units in the festive season so far, while Bajaj Auto reported 14% increase in total sales at 4,28,752 units in Sept.

Eicher Motors: Royal Enfield, the two-wheeler division of Eicher Motors reported a 22% growth in sales at 70,431 units in Sept.

Further, the state-run Energy Efficiency Services Tata Motors has announced that it will procure 10,000 electric cars from Tata Motors, valued at around Rs 1,120 crore. The company reported a 25% increase in domestic sales at 53,965 units in Sept month.