9:55 am
Buzzing: Shares of Housing Development and Infrastructure (HDIL) jumped 5
percent intraday after its promoters have revoked all shares pledged with
IL&FS Trust Company.
"Promoters
of HDIL have revoked all shares earlier pledged with IL&FS Trust Company
and now the entire 100 per cent shares in the promoters category is
non-pledged," it said.
IL&FS
Trust has released over 7.54 crore equity shares of promoters, including those
of Rakesh Kumar Wadhawan. The released shares in the latest tranche comprise
51.89 percent of the total shares pledged by promoter group.
9:45 am Will Hong Kong unrest spook
market? Unrest in
Hong Kong is spooking markets for fear it could escalate, challenging Beijing
to make a measured political response, at a time when Chinese and global growth
are at the heart of market anxiety. Worries about soft Chinese growth and
European weakness has made investors uneasy, while the US Federal Reserve
signals it is moving away from easy policy and getting closer to returning to a
more normal interest rate environment as the US economy gets stronger.
A wave of weekend protests in Hong Kong
extended into Monday with thousands defying a government call to end street
blockades, after police used tear gas, pepper spray and batons to break up a
sit-in by students and other residents seeking democratic elections in the
former British colony.
9:35 am FII view: Mahesh Nandurkar, CLSA says after
the setback to the BJP in the recent state assembly bypolls, the focus is back
on politics and the two important state government elections (Maharashtra and
Haryana) soon.
“A
potential loss for BJP will be a sentiment negative for the market but it will
not impact Modi's policy making and the growth improvement trajectory remains
intact. Any potential dip after elections will be a buying opportunity,” he
adds.
The market
has once again opened on a flat note ahead of RBI's monetary policy. The Sensex
is down 6.91 points at 26590.20 and the Nifty down 10.10 points at 7948.80.
About 364 shares have advanced, 198 shares declined, and 24 shares are unchanged.
Dr Reddy's Labs, Tata Power, M&M, Tata
Motors and Wipro are top gainers in the Sensex. Among the losers are Hindalco,
Hero MotoCorp, BHEL, Reliance and SBI.
The Indian
rupee opened marginally lower at 61.60 per dollar as against previous day's
closing of 61.53 a dollar. The dollar was hovering at a four-year peak against
a basket of major currencies on track to post its biggest monthly gain in well
over a year.
Ashutosh
Raina of HDFC Bank said, "The focus will be on RBI credit policy today.
Globally, the dollar strength continues to be the theme with dollar index
settling above the 85 level. Expect the USD/INR pair to trade in 60-61 range as
of now, although it will perform better than its peers."
On the global market front, US stocks ended
lower following protests in Hong Kong that added to worries about Chinese
growth and after a disappointing forecast from Ford Motor Co.
Asian
markets too were cautious over developments in Hong Kong and as investors
focused on data in China and Japan. Kospi weighed down by data showing August
industrial output posted its worst monthly fall since 2008.
In
commodities, crude hovers around USD 97/bbl on support from strong US economic
data last week
From
precious metals space-- gold holds steady above a nine-month low but poised to
post its sharpest monthly loss in 15 months as a rapid climb in the dollar
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