Sensex, Nifty consolidate; Sun Pharma, Ranbaxy, Jet rally

10:30am Manufacturing PMI Despite falling from December’s two-year record of 54.5 to 52.9, the headline HSBC India Purchasing Managers’ Index (PMI) remained consistent with a solid improvement in business conditions in January. PMI is a seasonally adjusted indicator designed to give an accurate overview of manufacturing operating conditions. Moreover, the latest expansion was the fifteenth in as many months. Sector data highlighted consumer goods as the best performing of the three market groups for the third month in a row, says HSBC in its report. "Manufacturing activity continued to signal improvement in January, though the rate of growth slipped to a three-month low. The slip can partly be attributed to consolidation after two months of impressive upticks," said Pranjul Bhandari, Chief India Economist at HSBC. "New orders, both from domestic and international sources, also continued to grow, though at a slower pace than in December. New orders were strongest in the consumer goods sector. On the inflation front, growth in input and output prices moderated further due to cheaper commodity prices," he added. "Sluggish growth and falling inflation further reinforces our view that the RBI should deliver upfront rate cuts. We expect the repo rate to be lowered by 75bp in the first half of 2015," said Pranjul. 10:00am Market Check The market remained under pressure amid consolidation following weakness in Asian equities post China data. The Sensex fell 73.99 points to 29108.96 and the Nifty declined 16.30 points at 8792.60. The broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices gaining 0.6 percent each. About 1230 shares have advanced, 708 shares declined, and 195 shares are unchanged. Sun Pharma gained more than 2 percent and Ranbaxy jumped over 3.5 percent to hit record highs. The US Federal Trade Commission approved the pharma major’s plan to buy Ranbaxy on the condition that it divests one antibiotic product to avoid anti-competitive impact in the US market. Torrent Pharma will acquire Ranbaxy's minocycline business in the US. Jet Airways and SpiceJet rallied more than 4 percent as aviation turbine fuel (ATF) is slashed by a steep 11.3 percent which now costs lesser than diesel. The price of ATF, or jet fuel, in Delhi was cut by Rs 5,909.9 per kilolitre, or 11.27 per cent, to Rs 46,513.02 per kl, oil companies announced.More information please visit this site www.bigprofitbuzz.com

Nifty ends above 8330; HUL & Infosys up, Coal India dips 4%

03:35 pm Market close

The market has ended with smart gains. The Sensex is up 126.89 points at 27585.27 and the Nifty is up 38.50 points at 8323.00. About 1651 shares have advanced, 1258 shares declined, and 373 shares are unchanged.

HUL gained 4 percent, followed by  L&T, Infosys, HDFC and BHEL. Coal India lost 4 percent while Hindalco, Bharti Airtel, Bajaj Auto and Hero MotoCorp.

03:00 pm Gold price

Riding on wedding season demand from jewellers and a firming global trend, gold regained its sheen with prices rising by Rs 230 to Rs 27,480 per ten gram at the bullion market today. Silver also rebounded by Rs 400 to Rs 37,250 per kg on increased offtake by industrial units and coin makers. Bullion merchants said increased buying by jewellers and retailers to meet wedding season demand and a firming trend overseas where gold surged to one-month high, mainly boosted the sentiment.

Globally, gold rose by 0.7 per cent to USD 1,231.29 an ounce in Singapore, the highest price since December 11, on speculation that the US Fed will go slow in raising interest rates, weakening the dollar and boosting demand for the precious metal. Silver also rose 0.7 percent to USD 16.61 an ounce. In the national capital, gold of 99.9 and 99.5 per cent purity flared up by Rs 230 each to Rs 27,480 and Rs 27,280 per ten grams respectively.

Sovereign, however, remained flat at Rs 23,800 per piece of eight grams in limited deals. In line with a general firm trend, silver ready recovered by Rs 400 to Rs 37,250 per kg and weekly-based delivery by Rs 415 to Rs 37,245 per kg. On the other hand, silver coins continued to be traded at last level of Rs 61,000 for buying and Rs 62,000 for selling of 100 pieces.

02:40pm Market Update

The market gained strength in last hour of trade with the Nifty reclaiming 8300 level. The Sensex rose 87.10 points to 27545.48 and the Nifty jumped 27.20 points to 8311.70 ahead of November industrial output and December CPI data.

About 1635 shares have advanced, 1167 shares declined, and 371 shares are unchanged on the BSE.

Infosys, ICICI Bank, L&T, SBI, Axis Bank, Dr Reddy's Labs and BHEL rallied 1-2 percent. HUL gained nearly 4 percent.

02:15pm Can Fin in News

Can Fin Homes' board of directors has approved issue price of Rs 450 apiece for its rights issue in the ratio of 3 shares for every 10 shares held.

The company will issue 61.45 lakh shares via rights issue.

The scrip of Can Fin fell 2.8 percent to Rs 639 on the BSE, after hitting a 52-week high of Rs 695 intraday.

02:00pm Market Check

The market remained lacklustre in afternoon trade. The Sensex fell 22.06 points to 27436.32 and the Nifty declined 1.50 points to 8283 while the BSE Midcap and Smallcap indices gained 0.6 percent and 0.8 percent, respectively.

The market breadth was positive as about 1586 shares have advanced against 1159 shares declined on the Bombay Stock Exchange.

Oil & gas, metals and auto stocks were under pressure while FMCG, capital goods and healthcare stocks gained strength.

Coal India topped the selling list on Sensex, down 5 percent on disinvestment buzz. Reliance Industries, Bharti Airtel, Hero Motocorp, Bajaj Auto and Hindalco Industries declined 2-2.5 percent while HUL was the biggest gainer, up 3.6 percent followed by Infosys, Axis Bank, L&T, SBI and Dr Reddy's Labs with 0.9-1.5 percent.

Globally, European markets were marginally in green in early trade while Asian markets closed mixed with the Shanghai falling 1.7 percent. Brent crude slipped below the 49-mark, down 2.8 percent to USD 48.71 a barrel while US crude was down 2.38 percent to USD 47.21 a barrel. More information please visit this site www.bigprofitbuzz.com

BSE Sensex, Nifty sluggish; ITC, ICICI Bank laggards

1:30 pm Market outlook: Sandip Sabharwal of asksandipsabharwal.com is very skeptical of the market for the first few months of 2015. According to him the market is likely to enter a difficult phase. The upcoming earnings season could be one of the worst in past several years and some of the global headwinds with regards to liquidity also remain, feels Sabharwal. Sector specific, he thinks telecom could outperform once the auction process is over but It and captial goods could report muted third quarter earnings. Some midcap stocks could be good bets for 2015.

Why is it risky for Bharti Airtel to charge for VoIP?

The market is still struggling with the Sensex down 107.36 points at 27101.25. The Nifty was down 18.25 points at 8155.85. About 1221 shares have advanced, 1325 shares declined, and 118 shares are unchanged.

Trading volumes remained low as investor interest was subdued despite Friday being the first trading day for the new monthly derivatives contract, traders said. Infosys, Sun Pharma, HDFC, Hindalco and SBI are major gainers while ITC, Maruti, ICICI Bank and Tata Motors are laggards.

Japanese stocks ticked up, with sentiment buoyed by bullish expectations for 2015 helping to overcome slight losses from profit-taking in the morning session. The Nikkei benchmark closed up 0.1 percent at 17,818.96 in quiet trade. The average added 1.1 percent over the holiday-shortened week, which saw the thinnest trade volume since May. More information please visit this site www.bigprofitbuzz.com

Sensex, Nifty flex muscles; banks, infra, metals support

The bulls are pulling through a strong trading session on Dalal Street. The Sensex is up 329.97 points or 1 percent at 27040.10. The Nifty is up 99.60 points or 1 percent at 8129.40. About 1959 shares have advanced, 606 shares declined, and 75 shares are unchanged. Banks, infra and metal stocks are lending support to the indices. Hindalco, GAIL, BHEL are up over 4 percent each. Tata Power and ICICI Bank are other gainers in the Sensex. Among the losers are Sun Pharma, HUL and HDFC. Real estate stocks gained after the Cabinet deferred a decision on setting up a regulator for the sector. the Cabinet yesterday discussed the Real Estate Development and Regulation Bill but deferred a decision on it. The bill, which was introduced in the Rajya Sabha in August last year, seeks to protect home buyers from unscrupulous developers. It was then referred to a Parliamentary Standing Committee, which had submitted its report in February. The bill provides for mandatory registration of all projects, besides mandatory disclosure of information like details of promoters, layout plan, land status, schedule of execution, status of various approvals and carpet area. More information please visit this site www.bigprofitbuzz.com

Sensex, Nifty gain ahead of Diwali; SBI, ITC laggards

It's the fourth consecutive session in the green for the market as the Nifty is around 8000 ahead of Diwali.The Sensex is up 178.01 points at 26753.66 and the Nifty is up 54.90 points at 7982.65. About 1478 shares have advanced, 643 shares declined, and 90 shares are unchanged.

Hero, Tata Motors, Bajaj Auto, BHEL and Cipla are top gainers while ONGC, Coal India, Tata Power, SBI and ITC are laggards.

In result reactions Cairn is higher despite Q2 numbers missing estimates. Barclays says it was an in line quarter retaining their overweight stance but prefers ONGC, BPCL and Reliance.

Globally Asia gains on reports of bond purchases by the European central bank. Nikkei also reacts to September trade deficit data that indicated exports hit a 7-month high. The rupee maintains its rising trend for the fourth straight day. More information please visit this site www.bigprofitbuzz.com

Sensex, Nifty recover post WPI inflation; SBI, Axis gain 2%

12:30pm Nikkei falls

 

Japan's Nikkei share average tumbled 2.4 percent to a fresh two-month closing low on Tuesday on fears global economic weakness will weigh on US growth, while a stronger yen dragged down exporters such as Toyota Motor Corp and Honda Motor Co. 

The Nikkei share average dropped 364.04 points to end at 14,936.51, the lowest closing level since Aug. 8.

 It also broke below its 200-day moving average, also for the first since Aug. 8. 

The dollar crawled up 0.4 percent to 107.235 yen, but remained in close range of a one-month low of 106.76 hit earlier in the session, reports Reuters. 

12:00pm The market recouped its morning losses after WPI inflation in September dropped to five-year low. The Sensex declined 27.63 points to 26356.44 and the Nifty fell 15.45 points to 7868.80. 

Wholesale Price Index (WPI) inflation in September eased to 2.38 percent from 3.74 percent in August led by fall in fuel, food and manufactured products prices. The WPI was expected to come in at 3.1 percent.

The consumer price inflation data for the month of September, which was released yesterday, cooled off to its all-time low of 6.46 percent, the lowest since India started computing consumer price index (CPI) in January 2012, led by lower food prices and fuel costs. 

Top lender State Bank of India and its rival Axis Bank gained 2 percent each. State-run power equipment maker BHEL topped the buying list, up 4 percent. 

Shares of Reliance Industries, Sun Pharma, Bajaj Auto, Bharti Airtel, Cipla and Tata Power gained 1-1.9 percent. However, DLF fell 26 percent followed by Sesa Sterlite, ITC, TCS, HDFC and Tata Motors with 1-4 percent loss. More information please visit this site www.bigprofitbuzz.com