Sensex ends 239 points lower; Nifty above 10K; Lupin cracks 4%
While the Nifty50 gave up the gains and slipped into red on Wednesday, the market saw creation of huge short positions. While it indicates an imminent correction, but it will be less in form of downsides and more in the form of volatile rangebound movement. Watch this space as we bring you LIVE updates of the proceedings from Dalal Street.
1 New Update
03:33:55 PM IST, 03 August 2017
CLOSING BELL: SENSEX ENDS 239 POINTS LOWER
Nifty manages to close above 10K; Lupin cracks 4%, Coal India 3%, SBI 2%.
03:09:53 PM IST, 03 August 2017
CHINESE YUAN, INDIAN RUPEE SEEN STUMBLING IF DOLLAR REVIVES
In 12 month's time the Chinese yuan will have erased most of its gains made this year, provided the US Federal Reserve sticks to its tightening path, boosting the greenback, a Reuters poll showed. Having strengthened more than 3 per cent since the start of 2017, the yuan is forecast to weaken to 6.90 per dollar in a year, according to the poll of over 60 forex analysts taken July 27-Aug 2.
02:44:01 PM IST, 03 August 2017
SENSEX CRACKS NEARLY 300 POINTS
Coal India, Lupin, SBI crack up to 3%. Bank stocks nosedive as PNB tanks 5%.
02:37:57 PM IST, 03 August 2017
NIFTY BANK FALLS OVER 300 POINTS
02:28:43 PM IST, 03 August 2017
IOC Q1 NET PROFIT NEARLY HALVES TO RS 4,548 CRORE
Indian Oil Corporation on Thursday reported a 45 per cent YoY fall in profit after tax (PAT) at Rs 4,548.51 crore for June quarter. This was against Rs 8,268.98 crore profit the company had reported in the same quarter last year.
02:14:01 PM IST, 03 August 2017
STOCKS THAT HAVE CRACKED UP TO 33% IN FIRST SIGN OF CORRECTION
Shares of Visesh Infotec (down 33.33 per cent), LCC Infotech (down 20 per cent) and Nakoda (down 12.50 per cent) cracked up to 33 per cent in Thursday's trade as domestic equity markets remained subdued due to sustained selling in frontline bluechip counters.
01:46:49 PM IST, 03 August 2017
5 STOCKS PRICED BELOW RS 10 SURGED UP TO 730% IN 2017
Lesser-known names often do wonders on Dalal Street. Nearly 50 stocks, which are trading below Rs 10, have surged up to 730 per cent this calendar year till August 2. Before you read further, here is a disclaimer: Being penny stocks, these businesses need to be studied closely before you decide to bet on them.
01:20:30 PM IST, 03 August 2017
2 STOCKS THAT TURNED CROREPATIS INTO AVERAGE MEN THIS YEAR
Everyone talks about multibaggers in the stock market; very few dare mention the wealth destroyers. A dozen BSE-listed stocks with market values in excess of Rs 500 crore have wiped out up to 85 per cent of investor wealth this year, even as the benchmark Sensex rallied over 22 per cent.
12:52:40 PM IST, 03 August 2017
NIFTY METAL INDEX EXTENDS LOSSES FOR SECOND SESSION
Nifty Metal index extended its losses for the second session as it was trading 52 points lower at 3,231 around 12 pm (IST) in Thursday's trade with shares of Jindal Steel & Power (down 6.19 per cent) as the top loser.
12:25:43 PM IST, 03 August 2017
RCOM TUMBLES 8% AS NCLT LOOKS INTO MERGER PROPOSAL WITH AIRCEL
Shares of Reliance Communications (RCom) tumbled over 8 per cent in Thursday’s trade amid reports that the National Company Law Tribunal (NCLT) will take a call on whether to admit the company’s merger proposal with Aircel, even as the telecom department suggested that the proposed partners should first get clearance from the Supreme Court. Following the reports, the stock fell 8.58 to hit a low of Rs 22.90 on BSE.
12:07:20 PM IST, 03 August 2017
RIL AT FRESH 9-YEAR HIGH
11:53:21 AM IST, 03 August 2017
NIFTY PHARMA SOLITARY GAINER INDEX IN A SUBDUED MARKET
While other sectoral indices were reeling under selling pressure, Nifty Pharma index emerged as the solitary gainer on NSE in Thursday's tradewith shares of Lupin (up 2.18 per cent) trading at the top in the index. Other pharma stocks such as Aurobindo Pharma (up 1.62 per cent), Divi's Laboratories (up 1.56 per cent), Cadila Healthcare (up 1.33 per cent), Piramal Enterprises )up 1.11 per cent) and Glenmark Pharmaceuticals (up 1.02 per cent) also registered significant gains.
11:25:25 AM IST, 03 August 2017
NEARLY 30 STOCKS HIT NEW 52-WEEK LOW TODAY
Nearly 30 stocks, including Mandhana Industries, Vimal Oil Food, RattanIndia Power, Cambridge Tech, Bhagyanagar Properties, Adlabs Entertainment, Jindal Photo, SURANA Solar, Jindal Poly Invest, Tata Motors, GSS Infotech and FCS Software touched their fresh 52-week low on NSE in Thursday's trade.
10:49:55 AM IST, 03 August 2017
BANK STOCKS CRACK POST RATE CUT; PNB, CANARA BANK TOP LOSERS
Extending its losses for the second session, Nifty Bank index was trading in red in Thursday's early trade after the MPC of the Reserve Bank of India, on Wednesday, slashed the short-term lending rate, or repo rate, by 25 basis points to 6 per cent at its third bi-monthly policy review. Following the development, shares of Punjab National Bank (down 3.52 per cent), Canara Bank (down 2.60 per cent) and YES Bank (down 2.09 per cent) cracked over 3 per cent in Thursday's trade.
10:23:22 AM IST, 03 August 2017
IOC CLIMBS 5% AHEAD OF Q1 NUMBERS
Shares of India Oil Corporation (IOC) jumped 5 per cent ahead of its quarterly numbers scheduled for later in the day. The stock gained even as oil marketing companies are expected to report a decline in June quarter core earnings due to inventory losses. The stock rose 4.93 per cent to hit a high of Rs 388.15 on BSE.
10:02:45 AM IST, 03 August 2017
PNB, SBI AMONG MOST ACTIVE STOCKS IN TERMS OF VOLUME
Shares of Punjab National Bank (PNB) (number of shares traded: 0.17 crore) were trading among the most active stocks in terms of volume on NSE in Thursday's early trade after it reported, on Wednesday, a 12 per cent year-on-year rise in net profit at Rs 343.40 for the quarter ended June 30, 2017 against Rs 306.36 crore in the corresponding quarter last year.
09:54:42 AM IST, 03 August 2017
BATA INDIA HITS FRESH 52-WEEK HIGH POST Q1 RESULTS
Shares of Bata India climbed over 4 per cent and its fresh 52-week high of Rs 610.90 in early trade on Thursday after the footwear major on Wednesday registered a 19.60 per cent rise in its net profit at Rs 60.4 crore for the quarter ended June 30.
09:18:27 AM IST, 03 August 2017
OPENING BELL: SENSEX, NIFTY OFF TO A WEAK START
Sensex, Nifty start on a negative note; RCom slips 2%, RIL, ONGC down 1% each.
09:02:50 AM IST, 03 August 2017
PRE-OPEN SESSION: SENSEX TRADES ABOVE 32,500
Nifty up over 50 points, Sensex trades above 32,500; Rupee opens at 63.67 against US dollar.
08:44:05 AM IST, 03 August 2017
DOLLAR INDEX RECOVERS FROM 15-MONTH LOW
The dollar index, which measures the greenback's value against a basket of six major currencies, rose about 0.1 per cent to 92.949. On Wednesday, it slid to 92.548, its weakest level since May 2016.
08:43:15 AM IST, 03 August 2017
GOLD PRICES OFF 7-YEAR HIGH
Gold prices on Thursday drifted further away from seven-week highs hit earlier this week, as the dollar firmed on expectations the US Federal Reserve could trim its bond holdings in September. Spot gold had fallen 0.3 per cent to $1,262.40 per ounce.
08:42:06 AM IST, 03 August 2017
SIGNAL FROM SINGAPORE
Nifty50 futures on the Singapore Stock Exchange were trading 31.50 points lower at 10,056, indicating a positive opening for the domestic market.
08:40:20 AM IST, 03 August 2017
NIFTY TECHNICAL CHARTS
The 25-basis points rate cut on Wednesday could not entice traders, as the Nifty50 dropped in late trade to eventually form a ‘Bearish Belt Hold’ on the daily chart. Technical analysts remained constructive over the index outlook, they do not rule out a small correction in near future. Chandan Taparia of Motilal Oswal Securities said that if the index drops below 10,050, a follow up decline could drag it towards 10,020 and 9950 mark.
08:39:50 AM IST, 03 August 2017
KEY RESULTS TO WATCH OUT FOR
OMC Indian Oil, construction firm Jindal SAW, IT firm Majesco, HFC PNB Housing, cement maker The Ramco Cements, watchmaker Titan and bags maker VIP Industries are some of the companies, which will report their quarterly results today.
08:39:25 AM IST, 03 August 2017
COCHIN SHIPYARD IPO CLOSES TODAY
The initial share sale offer of Cochin Shipyard was oversubscribed 3.16 times on the second day of the three-day bidding today. The IPO received bids for 10,72,21,140 shares against the total issue size of 3,39,84,000 shares, data available with the NSE showed.
08:37:23 AM IST, 03 August 2017
ASIAN MARKETS EDGE LOWER
Asian shares dipped on Thursday as investors locked in recent gains after Wall Street's Dow Jones Industrial Average broke the 22,000 barrier for the first time in its 121-year history. MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.5 per cent, with South Korea's Kospi index falling 1.5 per cent in early trade.
08:37:40 AM IST, 03 August 2017
DOW JONES HITS 22,000 OVERNIGHT
The Dow Jones Industrial Average rose 52.32 points, or 0.24 per cent, to 22,016.24, the S&P500 gained 1.22 points, or 0.05 percent, to 2,477.57 and the Nasdaq Composite dropped 0.29 points to 6,362.65, Reuters reported.
08:38:21 AM IST, 03 August 2017
SENSEX ON WEDNESDAY
Domestic equity market’s behaviour post RBI’s money policy conjured up such sentiment on Wednesday, as the benchmark Sensex slipped some 98 points, or 0.30 per cent, to wrap up the session at 32,476.
08:29:53 AM IST, 03 August 2017
Good morning, dear reader! Here’s something to kickstart your trading day
