Companies and Markets

Companies & Markets

Sensex climbs 74 pts in opening trade

The Sensex rose 74 points early today on buying pick-up as investors shrugged off weak Asian cues after the US Fed hiked its key rate.
An appreciating rupee brought more cheer. The 30-share index, which had gained 60.21 points in the previous two sessions, added 73.53 points, or 0.23 per cent, at 31,229.44.
Counters such as realty, oil and gas, auto, healthcare and FMCG traded positive.

Household savings spur double digit growth in private wealth

The global rally in equity markets has led to a faster rise in the number of millionaire households worldwide, including India, in 2016 than in 2015, driven by higher return from equities, according to a global private wealth report.
Private financial wealth in India posted a double-digit growth of 11 per cent in 2016, breaking the $2 trillion mark in private wealth for the first time, with most of the expansion stemming from new household savings, said Boston Consulting Group in their 2017 Global Wealth Report.

Options trade to deepen commodity market

Market regulator Sebi’s decision to introduce options in commodities derivatives market is widely seen as a critical reform, which could further deepen the domestic commodity market as it is expected to provide farmers and other participants a new hedging tool in a more cost-effective manner.
The regulator this week laid out rules for trading of commodity options, while allowing bourses to start trading of option in one commodity on a pilot basis.

Nifty snaps 2-day losing streak, up 11 pts

The NSE 50-share Nifty snapped its two-day losing streak to finish at 9,618.15 on fresh buying mainly in Reliance Industries.
The benchmark resumed higher at 9,621.55 and moved in a range of 9,627.40 and 9,580.45 before ending at 9,618.15, showing a gain of 11.25 points or 0.12 per cent.
The Nifty had dropped by 61.35 points or 0.63 per cent in the previous two days.
The NSE-realty index rose 1.36 per cent.

Sensex gains 52 points; Nifty advances as inflation cools off

The benchmark BSE Sensex rose by 52 points to close at 31,155.91 points today in a volatile trade as oil and gas, banking and pharma stocks gained amid positive global cues.
Inflation based on the wholesale price index fell to a five-month low of 2.17 percent in May, which lifted the investor sentiment, brokers said.
Investors, however, were cautious ahead of the US Federal Reserve's latest decision on interest rates later in the day, they said.

Sebi pulls up Raymond for flouting disclosure norms

Minority investors in companies have just got a leg up. The Securities and Exchanges Board of India (Sebi) on Tuesday pulled up Raymond for violation of disclosure norms under the listing agreement.
The market watchdog has issued notices to the board of the company and its audit committee for corporate governance issues relating to the sale of JK House.

Sensex recovers partially, moves up 102 pts on inflation cheer

Stocks got back into shape today as the Sensex recovered 102 points to 31,198 in early session -- chiefly buoyed by a cooling inflation -- amid mixed Asian cues.
Buying picked up on positive economic data after retail inflation fell to a record low of 2.18 per cent in May, from 2.99 per cent in April.
The 30-share barometer rebounded by 101.82 points, or 0.32 per cent, to 31,197.52. The gauge had lost 166.36 points in the previous session.
Sectoral indices such as healthcare, realty, capital goods, power and consumer durables looked good.

Sensex drops 166 pts ahead of macro data, global cues hurt

The benchmark Sensex tumbled over 166 points today to close at a two-week low of 31,096 as investors remained on the sidelines ahead of key macroeconomic data amid weakness in global peers.
Capital goods, banking and consumer durables were in a spot of bother.
The Sensex resumed lower and dropped further to 31,044.28 due to heavy selling pressure in view of foreign capital outflows and lower global cues before closing at 31,095.70, a loss of 166.36 points, or 0.53 percent. This is the lowest since May 26 when it ended at 31,028.21.

Sensex plunges 156 pts, focus shifts to macro data

The Sensex picked up cues from a lacklustre Asia as it stumbled 156 points today in the beginning of the week after investors started to take profit ahead of key IIP and inflation numbers due later in the day.
Asian shares traded in the negative territory after polls in the UK threw up a hung Parliament and markets await the results of the first round of France's parliamentary elections.
The 30-share index plunged by 155.91 points, or 0.49 percent, to 31,106.15.
The gauge had gained 48.70 points in the previous session on Friday.

Sensex logs first fall in 5 wks; late buying saves the day

A late burst of buying lifted the Sensex by 49 points to close at 31,262.06 on a day marked by high volatility but it was not enough to stop the bourses from recording their first fall in five weeks.
Indian bourses largely defended world pressure in the midst of an unexpected outcome for UK Prime Minister Theresa May's Conservatives with political uncertainty taking centre stage globally.
Though the Conservative party managed to get a minor win, which guarantees they are set to be the largest party in the UK Parliament, but fell well short of a majority.