SumanSpeaks: The Information Super Highway

Market Pulse The key indices held firm and hovered close to their intraday high in late afternoon trade as assembly elections results in Gujarat and Himachal Pradesh showed that BJP will return to power for a sixth straight term in Gujarat and will overthrow Congress rule to form government in Himachal Pradesh.  At 3:05 IST, the barometer index, the S&P BSE Sensex was at 33,652.61 up 189.64 points or 0.57%. The NSE was seen at 10,394.50 up 61.25 points or  0.59%75. The BJP has been ruling in Prime Minister Narendra Modi's home town Gujarat for the last two decades and a win today will boost its chances to form government at the Centre once again in the 2019 general elections. However, the way the INC under the newly elected president Rahul Gandhi came back bagging 70-plus seats suspending the BJP's one sided winning moves, cannot be taken lightly and I am sure it has been taken seriously by the political analysts. Though the BJP won in Gujarat, it is a vote...

Pre-Session : Market may gain as BJP leads in vote count in Gujarat 18-Dec-17: Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could surge 53.20 points at the opening bell. Marketmen will keenly track the outcome of the recently concluded assembly elections in Himachal Pradesh and Gujarat. Counting is underway and early leads showed BJP leading in both the states. BJP was leading in 57 seats while Congress was leading in 21 seats in Gujarat. Results of both the states will be announced today, 18 December 2017. Poll in Himachal Pradesh took place in single phase on 9 November 2017, while in Gujarat, poll was scheduled in two phases on 9 and 14 December 2017. Overseas, Asian stocks were mixed. US stocks rose to all-time highs on Friday, 15 December 2017, as expectations of a Republican tax bill passing increased. The plan will likely cut the corporate tax rate to 21% from 35%. Back home, the stock market closed the last trading s...

Pre-Session : Market may gain in early trade on exit polls' boost 15-Dec-17: Market is set to gain in early trade on the back of exit polls predicting a clear win for the BJP in the assembly elections of Gujarat and Himachal Pradesh. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could surge 64 points at the opening bell. Overseas, Asian stocks came under pressure with Japanese and Hong Kong markets leading declines in the region after US markets closed in the red. US stocks closed lower yesterday, 14 December 2017, as two GOP Senators raised some concerns about the tax bill. The European Central Bank (ECB) has hiked its growth forecasts, but admitted that inflation still won't be on target by 2020. In its final meeting of 2017 held yesterday, 14 December 2017, the eurozone's central bank voted to leave interest rates on hold - and repeated its commitment to running an asset-purchase stimulus programme until at least n...

Market Pulse The stock market extended intraday slide in mid-morning trade.  After a positive start, key indices traded within a narrow range around the flat line till morning trade. Investors digested the US Federal Reserve's decision of raising interest rates for the third time this year, underlining the confidence that the United States remains on solid footing. Higher interest rates in the US may drain liquidity from the emerging markets, including India, and redirect it to developed economies. The S&P BSE Mid-Cap index fell 0.43%. The S&P BSE Small-Cap index declined 0.65%. Both the indices underperformed the Sensex. The breadth, indicating the overall health of the market, was weak. On the BSE, 1,448 shares declined and 831 shares rose. A total of 116 shares were unchanged. Metal and mining stocks declined. SAIL (down 2.92%), Jindal Steel & Power (down 0.9%), NMDC (down 0.58%), Vedanta (down 0.58%), Hindustan Copper (down 0.49%), JSW Steel (down...

Pre-Session: Market set to surge in early trade 14-Dec-17: Market may surge in early trade on positive global cues after the US Federal Reserve raised interest rates for the third time this year. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could surge 51 points at the opening bell. Overseas, Asian stocks edged higher after Federal Reserve raised rates for the third time this year. US stocks rose yesterday, 13 December 2017, with the Dow posting a record closing, after the Federal Reserve hiked interest rates. Investors also digested news of Congressional leaders reaching a tentative agreement on a tax overhaul plan. The Fed raised interest rates by a quarter point after the conclusion of its two-day policy meeting yesterday, 13 December 2017, in a move that was widely expected by markets. That increased the central bank's target range to between 1.25% and 1.5%. The Fed also raised its GDP forecast from 2.1% to 2.5%. Its inf...

Market Pulse The stock market reversed intraday losses to enter into positive terrain in mid-morning trade. Key indices started the session on a subdued note and traded in negative zone till morning trade on mixed Asian cues, data showing surge in India's consumer price inflation and a moderate growth in industrial production. Indices reversed losses in mid-morning trade. The S&P BSE Mid-Cap index rose 0.23%, underperforming the Sensex. The S&P BSE Small-Cap index advanced 0.4%, matching the Sensex's gains in percentage terms. Overseas, Asian stocks were mixed as investors awaited the conclusion of the Federal Reserve's two-day policy meeting. US stocks rose yesterday, 12 December 2017 amid growing optimism that Republican lawmakers would be able to revamp the corporate tax system. Wall Street also looked to the Federal Reserve as its two-day policy meeting kicked off. The US Federal Reserve's Federal Open Market Committee (FOMC) two-day meetin...

Pre-Session: Flat opening on cards 13-Dec-17: Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 4.50 points at the opening bell. Overseas, Asian stocks were mixed as investors awaited the conclusion of the Federal Reserve's two-day policy meeting. US stocks rose yesterday, 12 December 2017 amid growing optimism that Republican lawmakers would be able to revamp the corporate tax system. Wall Street also looked to the Federal Reserve as its two-day policy meeting kicked off. The US Federal Reserve's Federal Open Market Committee (FOMC) two-day meeting which began yesterday, 12 December 2017, on interest rate decision, concludes later in global day today, 13 December 2017. The Federal Reserve left the target range for its federal funds rate unchanged at 1% to 1.25% during its November 2017 meeting as widely expected. Closer home, foreign portfolio investors (FPIs) bought shares worth a net Rs 843.20 crore yesterda...

Market Pulse Key benchmark indices witnessed a downward trend in early trade. The Sensex is now trading at 33,379.02 down 76.77 points or 0.23%. The Nifty is now trading at 10,291.20 down 31.05 points or 0.30%. The S&P BSE Mid-Cap index fell 0.1%. The S&P BSE Small-Cap index declined 0.04%. Both the indices outperformed the Sensex. Overseas, Asian stocks edged higher following a strong lead from Wall Street overnight. US equities closed higher yesterday, 11 December 2017, reversing earlier weakness following a terror incident near New York City's Times Square. The Dow Jones Industrial Average and the S&P 500 notched record closing highs. The US Federal Reserve's Federal Open Market Committee (FOMC) starts its two-day meeting on interest rates later in global day today, 12 December 2017. The US Federal Reserve will announce its interest rate decision tomorrow, 13 December 2017. The Federal Reserve left the target range for its federal funds rate unc...

Market Pulse Key benchmark indices edged higher in early trade tracking positive global cues. The S&P BSE Mid-Cap index rose 0.39%, under-performing the Sensex. The S&P BSE Small-Cap index advanced 0.62%, outperforming the Sensex. The market is not expecting a deep correction, so every dip is a buying opportunity. Overseas, Asian stocks edged higher following strong finish on the Wall Street on Friday. US equities closed higher on Friday, 8 December 2017, following the release of a stronger-than-expected jobs report. The US economy added 228,000 jobs last month, according to the Bureau of Labor Statistics. The unemployment rate held steady at 4.1%. Closer home, the breadth, indicating the overall health of the market, was strong. On the BSE, 1,158 shares rose and 309 shares declined. A total of 69 shares were unchanged. Axis Bank rose 1.39% at Rs 550 after the bank said its shareholders have given an approval to a proposal to raise equity and equity-linked cap...

Pre-Session: Market may edge higher in early trade 11-Dec-17: Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could gain 22 points at the opening bell. Overseas, Asian stocks traded mixed. US equities closed higher on Friday, 8 December 2017, following the release of a stronger-than-expected jobs report. The US economy added 228,000 jobs last month, according to the Bureau of Labor Statistics. The unemployment rate held steady at 4.1%. Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 675.16 crore on Friday, 8 December 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 1243 crore on Friday, 8 December 2017, as per provisional data. Among corporate news, Axis Bank said its shareholders have given an approval to a proposal to raise equity and equity-linked capital of Rs 11626 crore from a set of marquee investors including en...

Market Pulse Market witnessed strong bounce yesterday and Nifty close with a massive gain of 122 points. It was a gap up opening followed buy sustained buying till the end. Sharp fall in oil prices in global commodities market yesterday, 6 December 2017 also boosted investors sentiment. Needless to say, most of the sectors and thematic indices performed well and closed in the green with Infrastructure sector outperforming all others. Consumption index seconded it with 2.17% gain. However, the pharma index settled flat with a nominal gain of 0.25%. Key benchmark indices extended early gains and hit fresh intraday high in morning trade,  today. At 10:23 IST, the barometer index, the S&P BSE Sensex, was up 235.46 points or 0.71% at 33,184.67. The Nifty 50 index was up 75.45 points or 0.74% at 10,242.15. Among secondary barometers, the BSE Mid-Cap index was up 0.86%. The BSE Small-Cap index was up 1.02%. Both these indices outperformed the Sensex. The broad market d...

Market Pulse Key benchmark indices were trading higher in early trade. The barometer index, the S&P BSE Sensex, was trading at 32,737.12, up 139.94 (+0.43%) points, while NSE was seen at 10,088.95, up 44.85 (+0.45%) points. Among secondary barometers, the BSE Mid-Cap index was up 0.45%. The BSE Small-Cap index was up 0.42%. Both these indices outperformed the Sensex. The broad market depicted strength. There were almost three gainers against every loser on BSE. 1,010 shares rose and 345 shares fell. A total of 47 shares were unchanged. Overseas, most Asian shares declined as US policy uncertainty kept sentiment in check. US stocks ended mixed on Wednesday, as weakness in the energy sector spurred some minor selling that offset a recovery in the technology sector. The Dow Jones Industrial Average fell 0.16%. The S&P 500 fell 0.01%. The Nasdaq Composite Index rose 0.21%. Back home, IDBI Bank was up 1.28%. The bank said that its board of directors, has ap...

Pre-Session: Key benchmarks may open flat 07-Dec-17: Market could see a flat opening due to mixed cues from global equity markets. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 6.50 points at the opening bell. Overseas, Asian shares were mixed as softer oil and copper as well as US policy uncertainty kept sentiment in check. US stocks ended mixed on Wednesday, as weakness in the energy sector spurred some minor selling that offset a recovery in the technology sector. The Dow Jones Industrial Average fell 0.16%. The S&P 500 fell 0.01%. The Nasdaq Composite Index rose 0.21%. Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 1217.92 crore yesterday, 6 December 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 995.11 crore yesterday, 6 December 2017, as per provisional data. Among corporate news, IDBI Bank sai...

Market Pulse Key benchmark indices were trading down in the afternoon trade. At 12:32 IST, the barometer index, the S&P BSE Sensex, was seen at 32,692.05 down 110.39 points (-0.34%). The Nifty 50 index was trading at 10,070.85 down 47.40 points. Negative leads from Asian markets and overnight fall on the Wall Street spoiled investors sentiment. Cautiousness also prevailed ahead of the outcome of the Reserve Bank of India's monetary policy decision later today, 6 December 2017. Key indices opened lower and pared losses in morning trade. After a brief recovery, selling pressure dragged the indices lower once again in morning trade. Among secondary barometers, the BSE Mid-Cap index was up 0.06%. The BSE Small-Cap index was up 0.45%. Both these indices outperformed the Sensex. The market breadth, indicating the overall health of the market, is positive. On BSE, 1,334 shares rose and 934 shares fell. A total of 115 shares were unchanged. Suven Life Sciences...

Pre-Session: Market may slide on negative global cues 06-Dec-17: Market is seen opening lower tracking negative leads from Asian markets and overnight fall on the Wall Street. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 18.50 points at the opening bell. Overseas, Asian shares were trading lower, mirroring losses on the Wall Street. US stock ended lower Tuesday, driven by losses in utilities, telecoms and industrials sectors. The S&P 500 index fell 0.37%. The Nasdaq Composite ended 0.19% lower. The Dow Jones Industrial Average ended 0.45% lower. Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 1470.56 crore yesterday, 5 December 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 1074.39 crore yesterday, 5 December 2017, as per provisional data. Among corporate news, shares in interest-rate sensitive secto...

Market Pulse Key benchmark indices were trading lower in mid-morning trade, tracking negative cues in other Asian stocks. At present the barometer index, the S&P BSE Sensex, is trading at 32,749 down 120.72 points (-0.37%). The Nifty 50 index is trading at 10,094.95 down 32.80 points. Cement shares declined. Most pharmaceutical shares declined. The key indices trimmed losses after hitting fresh intraday low in morning trade. The Sensex hit a six-week low and the Nifty hit its lowest intraday level in almost 8 weeks in morning trade. Among secondary barometers, the BSE Mid-Cap index was down 0.16%. The decline in this index was lower than the Sensex's decline in percentage terms. The BSE Small-Cap index was down 0.42%. The decline in this index was higher than the Sensex's decline in percentage terms. The market breadth, indicating the overall health of the market, was weak. On BSE, 1,504 shares fell and 815 shares rose. A total of 123 shares were unchanged...