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BSE to launch new IRF contract from Jan 10

Leading stock exchange BSE will introduce new interest rate futures (IRF) contracts from January 10 on government bonds maturing in 2029.

The IRF contract is based on 6.79 per cent central government security maturing on December 26, 2029, and will be available for trading from January 10, BSE said in a circular.

An IRF contract is an agreement to buy or sell a debt instrument at a specified future date at a pre-determined price.

Market takes gains further, up 103 pts; Nifty regains 8300

The market made a solid opening today as the benchmark Sensex gained over 103 points taking support from domestic investors, extending its yesterday's rally on the back of a firm Asian trend.

Moreover, an appreciating rupee brought more cheer. The 30-share index advanced 103.48 points, or 0.38 per cent, to 26,981.72, with healthcare, consumer durables, metal, auto, capital goods, oil and gas and banking stocks trading in the positive zone, rising by up to Rs 0.59 per cent.

Sensex soars 245 pts to near 2-mth high, Nifty tops 8200-mark

The Sensex rebounded strongly to end near a two-month high of 26,878 by zooming over 245 points and the NSE Nifty rescaled the 8,200-mark after the US Fed minutes hinted at the uncertainty over pace of rate hike.

A higher US interest rate means flight of capital from emerging markets in quest of better returns.

Sensex rebounds 171 pts on higher Asian cues

The benchmark BSE Sensex rebounded over 171 points and the NSE Nifty regained the 8,200-mark in the opening trade today, reflecting gains in Asia after US Fed minutes suggested a less hawkish stance from policymakers.

The 30-share index was trading higher by 171.39 points, or 0.64 per cent, at 26,804.52 with all sectoral indices led by metal, auto, realty and banking stocks in the green.

The gauge had lost 10.11 points in the previous session. Besides, the NSE Nifty reclaimed the 8,200-mark by recovering 51 points, or 0.62 per cent, at 8,241.50.

Sensex builds on gains after strong global cues

The benchmark BSE Sensex advanced over 58 points in early session today on continuous buying by domestic institutional investors amid strong global leads.

The NSE nifty also went past the 8,200-mark. The 30-share index was trading higher by 58.55 points, or 0.21 per cent, at 26,701.79, with consumer durables, metal, auto, healthcare and capital goods stocks staying in good shape.

The gauge had gained 47.79 points in the previous session. The NSE index Nifty too was up 18.20 points, or 0.22 per cent, at 8,210.45.

The big hole

The government could face a big shortfall in its disinvestment target for the current fiscal given that it has raised less than half the proceeds budgeted through sell-off in the first nine months.
The government has targeted to mobilise Rs 56,500 crore via sale of public sector assets – Rs 36,000 crore through minority stake sale and share buyback and Rs 20,500 crore from strategic ssales.
Against that, it has raised nearly Rs 24,000 crore — Rs 21,432 crore via share buyback and minority stake sale and nearly Rs 2,100 crore from strategic sale in Suuti — so far.

Sensex recoups 43 pts on positive infra data

The BSE Sensex made a modest recovery of over 43 points at the start today on fresh buying, buoyed by a pick-up in infrastructure sector in November coupled with firm Asian cues.

The 30-share index rose 43.46 points, or 0.16 per cent, to 26,638.91, with sectoral indices consumer durables, power, metal, oil and gas, healthcare and realty advancing by up to 1.93 per cent. The gauge had lost 31.01 points in the first trading session of 2017 yesterday.

Manufacturing slides into contraction in Dec

India’s December manufacturing output saw its biggest monthly contraction in more than eight years as cash crunch spawned by demonetisation took its toll on new business orders, according to a private survey.
The Nikkei Markit India manufacturing purchasing managers’ index (PMI) – which measures manufacturing sector activity – fell to 49.6 in December, down from 52.3 in November.
PMI below 50 indicates contraction. This is also the first shrinkage in manufacturing in a year.

Realty stocks rise on lending rate cut, sops

Realty stocks rose Monday after many banks pared their lending rates from the New Year. The Nifty Realty Index was up by about 7.25 per cent. DLF went up by 6.5 per cent on the NSE. Oberoi Realty was up 5.8 per cent, Godrej Properties was up 3.5 per cent, Sobha, up 2 per cent and Indiabulls Real Estate, up 7 per cent. Unitech soared 8.75 per cent, while HDIL went up 2.9 per cent.

Falling prices get MFs to pick up Tata stocks

Mutual funds have been buying stocks of Tata Group companies during their fall as the internal battle within the group and impacts of demonetisation has made some of the stocks worth buying at the prevailing market price.

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