03:30 pm Markket
close
The bulls rested on Friday before ending for the weekend.
The Sensex was up 46.34 points at 28121.89 and the Nifty was up 19.65 points at
8513.80. About 1383 shares have advanced, 1550 shares declined and 296 shares
were unchanged.
Sun Pharma and Coal India were up 3 percent while HUL,
M&M and BHEL were other gainers. Hindalco, Hero, Bharti, SBI and Tata
Motors were laggards.
03:10 pm Oil prices
Oil prices may have further to fall and a rebound could take
some time, despite increasing signs that the downtrend will end, possibly in
the second half of this year as North American supply growth slows, the West's
energy watchdog said.
Oil prices have fallen almost 60 percent over the last six
months with both of the world's crude oil benchmarks now trading below USD 50 a
barrel as supplies of high quality, light oil from the United States and Canada
have overwhelmed demand at a time of lacklustre global economic growth.
The International Energy Agency (IEA) said in its monthly
oil market report that inventories would continue to build throughout the first
half of this year, but eventually lower oil prices would begin to curb supply
and help boost demand.
02:57pm Media stocks
in demand
Cabinet today cleared Phase III auction of FM Radio.
Entertainment Network India, which owns Radio Mirchi, surged 17 percent while
Jagran Prakash, which owns stake in Radio City, jumped 6 percent. DB Corp,
which owns 94.3 My FM, gained 1 percent.
02:45pm DHFL in News
Dewan Housing Finance Corporation's third quarter profit
jumped 15.4 percent year-on-year to Rs 159.6 crore driven by strong net
interest income. Profit profit, however, was restricted by provisions for
deferred tax liability on special IT reserve of Rs 13.33 crore (against Rs
11.62 crore Q3FY15).
Total income grew 17.3 percent on yearly basis to Rs 1,526.5
crore and net interest income surged 25.4 percent to Rs 392.6 crore in the
quarter gone by.
DHFL said housing loans sanctioned during the quarter
amounted to Rs 7,071.77 crore, up 19 percent compared to year-ago period while
disbursements jumped 22 percent to Rs 4,923.2 crore Y-o-Y. It
securitised/assigned pool of housing and property loans aggregating to Rs
497.97 crore in third quarter of FY15.
02:30pm Asia forex
brokers hit hard on SNB decision
Some retail foreign exchange brokers and trading houses in
Asia have been hit by massive losses from Swiss National Bank's (SNB) sudden
move to abandon a cap on its currency that led to heavy volatility, with one
even being forced to close.
Regulators in New Zealand and Hong Kong said on Friday they
were looking into the situation of brokers and banks trading the Swiss franc,
following reports of the volatility and losses.
The Swiss currency surged as much as 30 percent to a high of
0.8500 franc per euro after the SNB suddenly ditched its commitment to cap the
franc at 1.20 per euro on Thursday.
The surprise move caused New Zealand foreign exchange dealer
Global Brokers NZ Ltd to close due to hefty losses incurred from the
volatility, reports Reuters.
02:00pm Market Check
Equity benchmarks extended gains amid volatility in
afternoon trade supported by capital goods, FMCG and healthcare stocks. HDFC
Bank and Reliance Industries (ahead of Q3 earnings) also led support.
The 30-share BSE Sensex rose 95.59 points to 28171.14 and
the Nifty advanced 29.70 points to 8523.85. The BSE Midcap and Smallcap indices
gained 0.2-0.5 percent.
Sanjeev Prasad of Kotak Institutional Equities says the
valuations of the market are expensive at this point and a lot of good news has
been factored in. It is now hard to find quality ideas at reasonable
valuations.
Global markets traded in the red today. Asian markets like
Japan closed 250 points lower while European markets were trading in the red as
the Swiss National Bank's unexpected decision to remove its currency cap
unleashed volatility within the markets.
TCS recouped losses, trading flat after losing 2 percent in
morning trade. Brokerages gave a thumbs down to earnings and reduced earnings
per share targets. Management told that
they see revenue headwinds in Diligenta & energy but remained optimistic on
their overall FT16 outlook. Axis Bank traded higher post good numbers.
The rupee strengthened to a fresh one month high of 61.87
level against a close of 62 yesterday. Dollar weakness against Asian currencies
supported the rupee. More information please visit this site www.bigprofitbuzz.com
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