Sensex ends 255 pts higher; Nifty50 tops 9,650; Adani Ports surges 3%
A final nudge to GST rollout from the target date with some relaxation in tax filings should lift market mood on Monday even as Brexit talks and fresh terror attacks clouded investor sentiments. Watch this space as we bring you all the action in a live blog from Dalal Street.
1 New Update
03:06:05 PM IST, 19 June 2017
CDSL IPO SUBSCRIBED FULLY ON DAY 1
The initial public offer (IPO) of Central Depository Services (India) Ltd (CDSL) got fully subscribed on the first day of bidding. The IPO received bids for 2,61,69,500 shares against the total issue size of 2,48,27,046 shares, as per data available with the stock exchanges till 2.45 pm.
02:56:59 PM IST, 19 June 2017
DELIVERABLE VOLUMES OF SELECT STOCKS ZOOM TO 100%
Some of the beaten-down stocks on Dalal Street are grabbing investor eyeballs these days, with their deliverable volumes shooting up to 100 per cent in percentage terms. Take this: Videocon Industries whose stock has been hitting lower circuit limits in last 20 days, has seen deliverable volume rising from 46.50 on April 28, 2017 to nearly 100 per cent on June 16, 2017 on NSE.
01:38:58 PM IST, 19 June 2017
NIKKEI HITS 2-WEEK HIGH AS WEAK YEN SUPPORTS
Japanese stocks hit two-week highs on Monday, as the dollar's steady performance against the yen fuelled buying of futures, while Nomura Real Estate dived after saying Japan Post was no longer considering buying a stake in the property company. The Nikkei gained 0.6 per cent to 20,067.75, its highest close since June 5.
01:27:39 PM IST, 19 June 2017
NIFTY BANK INDEX UP AMID REPORTS OF NPA REVIEW BY PM
The Nifty Bank index reacted positively to the reports that PM Modi is going to review the measures taken by the RBI to resolve the NPA issue of Indian PSU banks on Monday, as the index was trading 120.35 points up at 23623.10 in Monday's trade. Following the development, shares of IndusInd Bank (up 1.39 per cent), Canara Bank (up 1.38 per cent), Bank of Baroda (up 0.60 per cent), HDFC Bank (up 0.53 per cent), Kotak Mahindra Bank (up 0.53 per cent), ICICI Bank (up 0.47 per cent), Punjab National Bank (up 0.44 per cent) and State Bank of India (up 0.33 per cent) were trading as top gainer bank stocks.
12:45:52 PM IST, 19 June 2017
AMTEK AUTO, BHUSHAN STEEL SHARES TANK UP TO 20% AHEAD OF BANKERS MEET
Shares of defaulter companies such as Amtek Auto, Bhushan Steel and Monnet Ispat tanked up to 20 per cent on Monday after reports that bankers are meeting from Monday to finalise their next course of action on six of the 12 bad loan accounts for immediate referral to NCLT after the RBI named the largest defaulters to face bankruptcy proceedings.
12:22:19 PM IST, 19 June 2017
JOINING THE IPO RUSH? HERE’S HOW THE ASBA PROCESS WORKS
The IPO season is back with a bang on Dalal Street. And so do all the noises around IPO biddings, their grey market premiums and hefty listing gains. Retail investors, who still consider IPOs to be easy rides to fast bucks, tend to get swayed easily by news on IPOs.
12:07:56 PM IST, 19 June 2017
ERIS LIFESCIENCES IPO SUBSCRIBED 16% ON DAY 2
The initial public offer of Eris Lifesciences was subscribed 16 per cent on the second day of bidding. The IPO, to raise Rs 1,741 crore, received bids for 25,35,600 shares against the total issue size of 1,59,48,750 shares, as per data available with the NSE. The portion set aside for qualified institutional buyers (QIBs) was subscribed 7 per cent on Friday, non-institutional investors 2 per cent and retail investors 41 per cent.
11:21:48 AM IST, 19 June 2017
CDSL IPO OPENS; WHY IT IS BROKER'S TOP CHOICE AMONG THE ONGOING ISSUES
The initial public offer (IPO) of Central Depository Services (India) Ltd (CDSL) was subscribed 30 per cent on the first day of bidding till 11 am (IST). The IPO received bids for 76,31,000 shares against the total issue size of 2,48,27,046 shares, as per data available with the stock exchanges till 11 am. Brokerage houses are bullish on the public offer the depository.
11:06:56 AM IST, 19 June 2017
15 SOLID MONEY-MAKING IDEAS THAT CAN WORK OVER NEXT 4 WEEKS
The NSE Nifty50 index got off to a promising start on Monday after a choppy week, during which it snapped a five-week gaining streak and slipped below the 9,600 mark. In the past five sessions, the Nifty50 index lost 80.20 points, or 0.83 per cent, to close at 9,588 on Friday against June 9 closing of 9,668. Based on various brokerage recommendations, here is a list of 15 stock strategies for the next 14-21 trading sessions.
10:37:30 AM IST, 19 June 2017
LANCO INFRATECH HITS RECORD LOW ON BANKRUPTCY PROCEEDINGS
Shares of Lanco Infratech scaled fresh all-time low of Rs 1.93 in early trade after the company on Saturday said the Reserve Bank of India (RBI) has directed its lead lender IDBI Bank to initiate insolvency proceedings for the company under the Insolvency and Bankruptcy Code (IBC).
09:46:46 AM IST, 19 June 2017
KOTAK MAHINDRA BANK, TATA MOTORS DVR SHARES UP ON INCLUSION IN SENSEX
Shares of Kotak Mahindra Bank and Tata Motors DVR were trading higher in early trade after these stocks became part of the BSE benchmark Sensex from Monday. Kotak Mahindra Bank was trading 0.38 per cent up at Rs 989.25, while Tata Motors DVR was up 0.28 per cent at Rs 283.55 at around the same time.
09:35:59 AM IST, 19 June 2017
RUPEE OPENS 7 PAISE HIGHER AT 64.36 AGAINST US DOLLAR
The rupee on Monday opened 7 paise up at 64.36 against dollar on account of selling of American currency by banks and exporters. The rupee on Friday closed higher by 10 paise at 64.43 against the US dollar, taking cues from encouraging export numbers for May.
09:18:01 AM IST, 19 June 2017
OPENING BELL: SENSEX RISES OVER 100 PTS
Nifty50 above 9,600; Bajaj Auto gains 2%, L&T 1%; Infy slips 1%.
09:04:54 AM IST, 19 June 2017
PRE-OPEN SESSION: SENSEX, NIFTY POSITIVE; RUPEE UP AT 64.36 AGAINST US DOLLAR
08:33:34 AM IST, 19 June 2017
ERIS LIFESCIENCES IPO SUBSCRIBED 12%
The initial public officering of Eris Lifesciences has got subscribed 12 per cent on the first day of the offer on Friday till 5 pm. The company plans to raise Rs 1,732-1,741 crore from in a price band of Rs 600-603 per equity share.
08:33:21 AM IST, 19 June 2017
CDSL IPO OPENS TODAY
The BSE-promoted Central Depository Services (India) Limited will hit the primary market with an initial public offering (IPO) on Monday to raise more than Rs 500 crore. The company has fixed the price band at Rs 145-149 per share. The issue will close on June 21.
08:33:12 AM IST, 19 June 2017
CLAMPDOWN ON P-NOTES
The Securities and Exchange Board of India (Sebi) is set to tighten rules on participatory notes (P-Notes) at a board meeting on June 21. Sebi had last month proposed to ban P-Notes from being issued against derivatives for speculative purposes except for hedging over concerns that they may be used as an avenue for roundtripping of funds to evade the crack down on black money. Not everyone is happy with this.
08:33:02 AM IST, 19 June 2017
CRUDE OIL DIPS MORE
Oil prices fell early on Monday, weighed down by high supplies despite an OPEC-led initiative to cut production to tighten the market, reported Reuters. Signs of faltering demand stoked weak sentiment, prompting price levels comparable to when the output cuts were first announced late last year. Brent crude futures were down 11 cents, or 0.23 per cent, at $47.26 per barrel while WTI crude futures were down 11 cents, or 0.25 per cent, at $44.63 per barrel.
08:32:51 AM IST, 19 June 2017
RUPEE GAINED ON FRIDAY
The rupee pared all the morning losses and closed stronger against the US dollar on Friday. The Indian currency closed at 64.43 a dollar, up 0.17 per cent from previous close of 64.54. The rupee opened at 64.67 a dollar and touched a high and a low of 64.40 and 64.74 respectively.
08:32:40 AM IST, 19 June 2017
US STOCKS MIXED ON FRIDAY
The Dow Jones industrial average closed at at record high on Friday, while the Nasdaq closed lower amid tech shares selloff. The Nasdaq Composite Index closed down 13.74 points, or 0.2 per cent, at 6,151.76, to end the week 0.9 per cent lower. The Dow finished up 24.38 points, or 0.1 per cent, at a record 21,384. The S&P500 index rose 0.69 points at 2,433.15.
08:32:30 AM IST, 19 June 2017
ASIAN MARKETS STEADY
Stock markets in the rest of Asia traded mixed this morning, as investors geared up for the Brexit negotiations between the UK and the European Union, and reports of fresh terror attacks in London and Mali. Japan's Nikkei225 benchmark was up 0.09 per cent in early trade while South Korea's Kospi edged lower by 0.17 per cent. Australia’s S&P/ASX 200 was off by 0.01 per cent.
08:32:19 AM IST, 19 June 2017
SIGNAL FROM SINGAPORE
Nifty50 futures were trading 42 points higher at 9,638 at 7.30 hours this morning, signalling a possible strong start to the domestic market. The Sensex lost nearly 0.12 per cent last week while NSE's Nifty shed 0.29 per cent. Vijay Singhania, Founder-Director, Trade Smart Online, a leading discount brokerage firm, says technically, 9,580 and 9,500 levels are more important supports for the Nifty50 to watch out for. “We expect the Nifty50 to trade in a range between 9,500 on the downside and 9,700 on the upside," he said.
08:32:11 AM IST, 19 June 2017
SENSEX ON FRIDAY
A rout in pharma and IT stocks ruined the day in the domestic equity market on Friday, as sharp drops in the shares of Lupin, Sun Pharma, Cipla, Wipro and Infosys pulled down the Sensex by 19 points to end a choppy session at 31,056. The index traded between a high point of 31,182 and a low point of 31,017 through the day. Tata Motors (up 1.74 per cent), ITC (up 1.29 per cent), Adani Ports (up 1.94 per cent) were the top gainers in the Sensex pack. The Nifty50 closed the session 10 points higher at 9,588, but posted its first weekly loss in six. For the week, the 30-share pack ended 0.12 per cent lower while NSE's Nifty shed 0.29 per cent.