Monday 30 June 2014

Closing Summary, Market Synopsis: 30th July, 2014


Key benchmark indices edged higher on the last trading session of the month and the quarter as a decline in crude oil prices boosted market sentiment. The BSE Sensex and the 50-unit CNX Nifty, both hit their highest level in almost two weeks; CNX Nifty shut shop at 7611 up by 103 points.
The market breadth, indicating the overall health of the market was positive, but in Nifty50 stocks the advances to declines stands at 42 advances to 8 declines.

Photo: Closing Market Update:
Key benchmark indices edged higher on the last trading session of the month and the quarter as a decline in crude oil prices boosted market sentiment. The BSE Sensex and the 50-unit CNX Nifty, both hit their highest level in almost two weeks; CNX Nifty shut shop at 7611 up by 103 points.
The market breadth, indicating the overall health of the market was positive, but in Nifty50 stocks the advances to declines stands at 42 advances to 8 declines.

Morning Summary, Market Synopsis: 30th June, 2014


The market has opened higher as the Nifty races towards 7550 on the back of PSU Bank, Capital Goods and Realty sectors. The Nifty is up 25.25 points at 7534.05 while the Sensex is up 79.63 points at 25179.55. The Indian rupee opened flat at 60.03 per dollar versus 60.08 Friday. The dollar struggled to get off a one-month low against a basket of major currencies. On Global front, Asian equity markets kicked off the week mixed as traders brace for a week full of event risk. On BSE, Mid Cap and Small Cap are gaining 1.38% and 1.24% respectively. On Sectoral front, BSE Capital Goods and BSE BANKEX are up around 2%, followed by rest of the sectors.



Further the market breadth stands positive with 1100 shares advancing against the 310 declining shares.

Photo: Morning Market Update: BSE Time: 11:00 AM
The market has opened higher as the Nifty races towards 7550 on the back of PSU Bank, Capital Goods and Realty sectors. The Nifty is up 25.25 points at 7534.05 while the Sensex is up 79.63 points at 25179.55. The Indian rupee opened flat at 60.03 per dollar versus 60.08 Friday. The dollar struggled to get off a one-month low against a basket of major currencies. On Global front, Asian equity markets kicked off the week mixed as traders brace for a week full of event risk. On BSE, Mid Cap and Small Cap are gaining 1.38% and 1.24% respectively. On Sectoral front, BSE Capital Goods and BSE BANKEX are up around 2%, followed by rest of the sectors.

 

Further the market breadth stands positive with 1100 shares advancing against the 310 declining shares.

Saturday 28 June 2014

Friday 27 June 2014

Morning Summary, Market Synopsis: 27th June, 2014

Equity benchmarks rebounded with the Nifty reclaiming 7500 level on first day of July series supported by pharma, oil & gas, metals and FMCG stocks. The Indian rupee opened with marginal gains of 6 paise at 60.08 per dollar on Friday as against previous day's closing value of 60.14 a dollar. Asian equity markets declined following hawkish comments from a Federal Reserve official. Speaking in a televised interview in the US overnight, St. Louis Fed President James Bullard suggested interest rates could rise sooner rather than later, leading Wall Street shares to end in the red overnight. US markets ended lower on the back of government data prompting downward revisions to US economic growth in the second quarter, coupled with comments from Fed on interest rate hikes. Six of the 10 S&P 500 sectors were in negative territory. The S&P financial index slipped 0.3 percent and ranked among those leading the market's decline. On BSE, midcap and smallcap are trading higher in green with gains of 0.28% and 0.34% respectively.

Further the market breath stands positive with 1455 shares are seen advancing against 725 declining shares.

Photo: Morning Market Update:
Equity benchmarks rebounded with the Nifty reclaiming 7500 level on first day of July series supported by pharma, oil & gas, metals and FMCG stocks. The Indian rupee opened with marginal gains of 6 paise at 60.08 per dollar on Friday as against previous day's closing value of 60.14 a dollar. Asian equity markets declined following hawkish comments from a Federal Reserve official. Speaking in a televised interview in the US overnight, St. Louis Fed President James Bullard suggested interest rates could rise sooner rather than later, leading Wall Street shares to end in the red overnight. US markets ended lower on the back of government data prompting downward revisions to US economic growth in the second quarter, coupled with comments from Fed on interest rate hikes. Six of the 10 S&P 500 sectors were in negative territory. The S&P financial index slipped 0.3 percent and ranked among those leading the market's decline. On BSE, midcap and smallcap are trading higher in green with gains of 0.28% and 0.34% respectively.

Further the market breath stands positive with 1455 shares are seen advancing against 725 declining shares.

Thursday 26 June 2014

Closing Summary, Market Synopsis: 26th June, 2014

Closing Market Update:

Key benchmark indices ended lower on Thursday with sharp falls in oil explorers such as Reliance Industries and ONGC after the government deferred a decision to hike prices of locally produced gas, while the expiry of monthly derivatives contracts also weighed on sentiment. CNX Nifty shut shop down by 76 points at 7493.

The market breadth, indicating the overall health of the market was negative, in Nifty50 stocks the advances to declines stands at 15 advances to 35 declines.
Photo: Closing Market Update:

Key benchmark indices ended lower on Thursday with sharp falls in oil explorers such as Reliance Industries and ONGC after the government deferred a decision to hike prices of locally produced gas, while the expiry of monthly derivatives contracts also weighed on sentiment. CNX Nifty shut shop down by 76 points at 7493.
 
The market breadth, indicating the overall health of the market was negative, in Nifty50 stocks the advances to declines stands at 15 advances to 35 declines.

Morning Summary, Market Synopsis: 26th June, 2014

Indian equity markets opened lower today, the Sensex is down 170.37 points at 25143.37 and the Nifty slips 49.50 points at 7519.75. The market was weighed down by oil & gas stocks post deferment of revision in natural gas price. The Indian rupee has opened flat at 60.09 per dollar on Thursday as against previous day's closing value of 60.12 a dollar. Globally, The US markets snapped the two-day fall, as weak data supported the Federal Reserve's dovish stance. The country’s Q1 GDP contracted 2.9 percent- the worst reading since 2009. On BSE, Midcap is trading flat with no change and Small cap is trading nominally lower. On sectoral front, Capital good is trading higher by 0.95% and on downside, Oil and Gas is trading lower by as much as 3.18% at the time of writing this.
Further the market breath stands negative with 1127 shares are seen advancing against 1012 declining shares.
Photo: Morning Market Update:
Indian equity markets opened lower today, the Sensex is down 170.37 points at 25143.37 and the Nifty slips 49.50 points at 7519.75. The market was weighed down by oil & gas stocks post deferment of revision in natural gas price. The Indian rupee has opened flat at 60.09 per dollar on Thursday as against previous day's closing value of 60.12 a dollar. Globally, The US markets snapped the two-day fall, as weak data supported the Federal Reserve's dovish stance. The country’s Q1 GDP contracted 2.9 percent- the worst reading since 2009. On BSE, Midcap is trading flat with no change and Small cap is trading nominally lower. On sectoral front, Capital good is trading higher by 0.95% and on downside, Oil and Gas is trading lower by as much as 3.18% at the time of writing this.
Further the market breath stands negative with 1127 shares are seen advancing against 1012 declining shares.

Wednesday 25 June 2014

Closing Summary, Market Synopsis: 25th June, 2014


Key benchmark indices fell on Wednesday for a fifth session in six, with blue-chips such as RIL, ITC, ICIC Bank taking a hit as caution ahead of expiry of June derivatives on Thursday and fears of more violence in Iraq prompted investors to pare positions.CNX Nifty shut shop down by 11 points at 7569. Auto stocks surged in the final minutes of trade after Finance Minister Arun Jaitley told reporters that India had extended excise duty concessions for automobiles, among other sectors.

The market breadth, indicating the overall health of the market was positive, in Nifty50 stocks the advances to declines stands at 24 advances to 26 declines.
Photo: Closing Market Update:
 
Key benchmark indices fell on Wednesday for a fifth session in six, with blue-chips such as RIL, ITC, ICIC Bank taking a hit as caution ahead of expiry of June derivatives on Thursday and fears of more violence in Iraq prompted investors to pare positions.CNX Nifty shut shop down by 11 points at 7569. Auto stocks surged in the final minutes of trade after Finance Minister Arun Jaitley told reporters that India had extended excise duty concessions for automobiles, among other sectors. 
 
The market breadth, indicating the overall health of the market was positive, in Nifty50 stocks the advances to declines stands at 24 advances to 26 declines.

Morning Summary, Market Synopsis: 25th June, 2014


The market opened on a flat note after the big rally seen on Tuesday. The Sensex is up 16.03 points at 25384.93 and the Nifty is up 1.95 points at 7582.15. The rupee declined in the early trade. It has opened lower by 10 paise at 60.23 per dollar versus 60.13 Tuesday. The euro is steady against the dollar, meanwhile the dollar index is stuck in a range. International markets, meanwhile, ended weak as tensions in Iraq overshadowed better-than-expected US economic data. The Dow slipped 120 points with the CBOE VIX seeing a sharp 10 percent rise. European markets were also subdued as German business confidence slipped. Asian markets are currently trading soft. On BSE, Midcap and Smallcap is trading in green with midcap up by 0.61% and Small cap up by 0.47% as we write this. On scetoral front, consumer durable is the best performer to gain 0.75% while on flipside, FMCG is the worst performer to ease 0.40% at the time of writing this.
Further the market breath stands positive with 1303 shares are seen advancing against 800 declining shares.
Photo: Morning Market Update:
The market opened on a flat note after the big rally seen on Tuesday. The Sensex is up 16.03 points at 25384.93 and the Nifty is up 1.95 points at 7582.15. The rupee declined in the early trade. It has opened lower by 10 paise at 60.23 per dollar versus 60.13 Tuesday. The euro is steady against the dollar, meanwhile the dollar index is stuck in a range. International markets, meanwhile, ended weak as tensions in Iraq overshadowed better-than-expected US economic data. The Dow slipped 120 points with the CBOE VIX seeing a sharp 10 percent rise. European markets were also subdued as German business confidence slipped. Asian markets are currently trading soft. On BSE, Midcap and Smallcap is trading in green with midcap up by 0.61% and Small cap up by 0.47% as we write this. On scetoral front, consumer durable is the best performer to gain 0.75% while on flipside, FMCG is the worst performer to ease 0.40% at the time of writing this.
Further the market breath stands positive with 1303 shares are seen advancing against 800 declining shares.

Tuesday 24 June 2014

Closing Summary, Market Synopsis: 24th June, 2014

Key benchmark indices rose over 1 percent on Tuesday, snapping a four-day losing streak as blue-chips shares gained on continued hopes of reforms while a fall in crude oil prices also helped. Firm cues from regional markets also underpinned sentiment as improved manufacturing data from China, Japan and the United States augured well for global growth.

Media reports that the government may soon announce hike in natural gas prices lifted shares of gas production firms ONGC and Reliance Industries (RIL). Gas utility stocks surged. The market breadth, indicating the overall health of the market was positive, in Nifty50 stocks the advances to declines stands at 39 advances to 11 declines.
Photo: Closing Market Update:
Key benchmark indices rose over 1 percent on Tuesday, snapping a four-day losing streak as blue-chips shares gained on continued hopes of reforms while a fall in crude oil prices also helped. Firm cues from regional markets also underpinned sentiment as improved manufacturing data from China, Japan and the United States augured well for global growth.
 
Media reports that the government may soon announce hike in natural gas prices lifted shares of gas production firms ONGC and Reliance Industries (RIL). Gas utility stocks surged. The market breadth, indicating the overall health of the market was positive, in Nifty50 stocks the advances to declines stands at 39 advances to 11 declines.

Commodity Market Update (Silver)


Precious metals are advances on COMEX as investors weighed tension in Iraq with the outlook for the US economy. Actively traded Gold contract tested a high of 1326.40 before settling at 1325.50, up 7.10 points or half a percent an ounce and Silver is jump more than a percent or 21.4 cents to trade at 21.13 after having tested a high of 21.155 an ounce.WTI Crude Oil is trading at 105.82, down 0.35 points or 0.33% after having tested a low of 105.25 while Natural Gas is up couple of cents or 0.38% to trade at 4.463 per mmbtu. With the exception of Nickel, Base metals are trading higher since morning with Copper trading at 6880.00, up 6.50 points and Aluminum rose around half a percent or 9 points to trade at 1896.00 and leading the metals group.
Photo: Commodity Market Update (Silver):
Precious metals are advances on COMEX as investors weighed tension in Iraq with the outlook for the US economy. Actively traded Gold contract tested a high of 1326.40 before settling at 1325.50, up 7.10 points or half a percent an ounce and Silver is jump more than a percent or 21.4 cents to trade at 21.13 after having tested a high of 21.155 an ounce.WTI Crude Oil is trading at 105.82, down 0.35 points or 0.33% after having tested a low of 105.25 while Natural Gas is up couple of cents or 0.38% to trade at 4.463 per mmbtu. With the exception of Nickel, Base metals are trading higher since morning with Copper trading at 6880.00, up 6.50 points and Aluminum rose around half a percent or 9 points to trade at 1896.00 and leading the metals group.

Morning Summary, Market Synopsis: 24th June, 2014


The market has opened on a positive note with support from oil & gas stocks. The Sensex is up 141.06 points at 25172.38 and the Nifty is up 21.85 points at 7515.20. The Indian rupee opened higher by 8 paise at 60.12 per dollar versus 60.20 Monday. Euro continues to remain under pressure, trading below the 1.36 mark. Global markets are mixed with the US markets ending marginally in the red despite strong economic data. European markets declined as manufacturing and services PMI numbers disappointed. Asian markets, meanwhile, is mixed in morning trade. On BSE, Midcap and Smallcap are trading in green with gains of 1.17% and 1.34% respectively.
Further the market breath stands positive with 1480 shares are seen advancing against 470 declining shares.
Photo: Morning Market Update:
The market has opened on a positive note with support from oil & gas stocks. The Sensex is up 141.06 points at 25172.38 and the Nifty is up 21.85 points at 7515.20. The Indian rupee opened higher by 8 paise at 60.12 per dollar versus 60.20 Monday. Euro continues to remain under pressure, trading below the 1.36 mark. Global markets are mixed with the US markets ending marginally in the red despite strong economic data. European markets declined as manufacturing and services PMI numbers disappointed. Asian markets, meanwhile, is mixed in morning trade. On BSE, Midcap and Smallcap are trading in green with gains of 1.17% and 1.34% respectively.
Further the market breath stands positive with 1480 shares are seen advancing against 470 declining shares.

Monday 23 June 2014

Closing Summary, Market Synopsis: 23rd June, 2014

Key benchmark indices fell for a fourth straight session on Monday, marking their lowest close in 2-1/2 weeks as ITC Ltd slumped the most in ten months on tax worries, while concerns over high oil prices feeding inflation continued to weigh. CNX Nifty shut shop down 18 points at 7493. Sugar refiners gained after the food minister said on Monday that India would raise import duty on sugar to 40 percent from 15 percent, as the government tries to revive business at mills that owe farmers around $1.84 billion.

The market breadth, indicating the overall health of the market was positive, in Nifty50 stocks the advances to declines stands at 35 advances to 15 declines.
Photo: Closing Market Update:
Key benchmark indices fell for a fourth straight session on Monday, marking their lowest close in 2-1/2 weeks as ITC Ltd slumped the most in ten months on tax worries, while concerns over high oil prices feeding inflation continued to weigh. CNX Nifty shut shop down 18 points at 7493. Sugar refiners gained after the food minister said on Monday that India would raise import duty on sugar to 40 percent from 15 percent, as the government tries to revive business at mills that owe farmers around $1.84 billion.
 
The market breadth, indicating the overall health of the market was positive, in Nifty50 stocks the advances to declines stands at 35 advances to 15 declines.

Commodity Market Update (Gold)


Precious metals are trading nominally lower today with Gold trading at 1314.40, lower by 0.17% and Silver is at 20.82 an ounce, down by 0.59 as we write this. The near term outlook seems positive for bullion and any decline in prices may exploit buying opportunity in the metals. Base metals are trading in green with Lead recording the maximum gains of 1.48% at 2165.0 followed by all other metals. Copper is trading at 6876.0, +55 points or 0.81% as we write this. On energy section, Crude Oil and Natural Gas prices are trading in green with Crude Oil trading at 106.25, +0.25% and Natural Gas is at 4.54, +0.32% at the time of writing this. Short term bias remains positive for energy commodities.

Morning Summary, Market Synopsis: 23rd June, 2014

The market has opened in green. The Sensex is up 50.01 points at 25155.52 and the Nifty is up 2.80 points at 7514.25. The Indian rupee opened with marginal gains of 8 paise at 60.10 per dollar on Monday as against Friday's closing value of 60.18 a dollar. The euro dipped ever so slightly in the wake of dovish comments from the European Central Bank but investors struggled for conviction ahead of a report on China's manufacturing sector. Globally, The US markets ended higher on Friday with the Dow and S&P 500 hitting record highs. European markets closed mixed while Asian markets are trading with positive bias. Japan’s Nikkei is currently sitting near six-month highs. On BSE, Midcap and Smallcap are trading higher with midcap up by 0.39% and Small cap added 0.48% as we write this.
Further the market breath stands positive with 1110 shares are seen advancing against 838 declining shares.
Photo: Morning Market Update:
The market has opened in green. The Sensex is up 50.01 points at 25155.52 and the Nifty is up 2.80 points at 7514.25. The Indian rupee opened with marginal gains of 8 paise at 60.10 per dollar on Monday as against Friday's closing value of 60.18 a dollar. The euro dipped ever so slightly in the wake of dovish comments from the European Central Bank but investors struggled for conviction ahead of a report on China's manufacturing sector. Globally, The US markets ended higher on Friday with the Dow and S&P 500 hitting record highs. European markets closed mixed while Asian markets are trading with positive bias. Japan’s Nikkei is currently sitting near six-month highs. On BSE, Midcap and Smallcap are trading higher with midcap up by 0.39% and Small cap added 0.48% as we write this.
Further the market breath stands positive with 1110 shares are seen advancing against 838 declining shares.

Saturday 21 June 2014

News Hour: Rail passenger fares hiked by 14.2%, freight rates by 6.5%

NEW DELHI: Get ready to pay more for train travel. The Narendra Modi government administered its first dose of harsh economic medicine on Friday in the form of a sharp increase in rail fares that could presage a budget that will eschew populism in favour of fiscal consolidation.
While the Opposition protested against such a move weeks before the government is expected to unveil its railway budget, the Modi administration defended itself, saying it was only implementing a decision that the previous UPA dispensation had cleared and then frozen.

The Congress party attacked the increase, accusing the government of adding to the burden on the common man in a month of coming to power. "This comes at a time the prices of onions and potatoes have skyrocketed. Also, there is concern about delay in the monsoon and the ongoing problem in Iraq is also having an effect on global crude prices," party spokesperson Ajay Maken told reporters. 


"This hike will affect prices of food items, coal, and hence we strongly condemn it." Congress and other parties demanded an immediate rollback of the hike.

The decision to raise passenger fares by 14.2% and freight charges by 6.5% effective June 25 will help Indian Railways raise an additional Rs 8,000 crore in the financial year. Successive governments have been unwilling to risk unpopularity and raise passenger fares while treating the loss-making utility as a means of dolin .

To be sure, Modi has given ample notice of his government's intent to take tough and unpopular decisions to revive an economy that's grown at less than 5% in the past two years.

"I am well aware that my steps may dent the immense love that the country has given me," he said last weekend. "But when my countrymen realise that these steps will result in getting the financial health back, then I will regain that love."

The budget is expected to be announced in the first week of July. By tradition, the railway budget is announced two days before that.

The fare increase had been proposed by the previous government in the interim budget but was put on hold because of elections.

Justifying the decision, Railway Minister Sadananda Gowda said, "I was forced to implement the order that was done by my predecessor. I am only withdrawing the withholding order."

He said the interim budget presented by the previous government had assumed certain revenues on the basis of the proposed hike that was announced on May 16. That was the day the Lok Sabha election results were announced, giving the Modi-led BJP a clear majority and arming it with the numbers needed to take hard decisions. The hike was notified but put on hold immediately that day.

"Meeting the annual expenditure would not be possible unless the revised rates as finalised by previous government is implemented," said a railway ministry statement.

"Hence (the) order of withdrawing implementation of revised fare and freight has been withdrawn." Of the total increase, 4.2% and 1.6% is the fuel adjustment component respectively in passenger and freight charges that goes up or comes down in line with fuel prices. This has been added to the increase made by the previous government according to the laid-down practice.

With Indian Railways incurring a loss of aboutRs 900 crore per month in the passenger segment, economists hailed the move as a step in the right direction that won't do much to push up prices.

"The rail price hike is a very positive move. It clearly shows that the government is willing to bite the bullet on public finances," said DK Joshi, chief economist, CrisilBSE 0.05 %. "While it will help the financials of railways, the impact on inflation will only be mild." 

ndustry welcomed the decision but said service quality also needed to be given attention.

"Railway freight rates have been increased with a view to resource mobilisation, which is today the most critical requirement for Indian Railways," said Chandrajit Banerjee, director-general, CII. "Without adequate resources, Indian Railways will not be able to afford its modernisation, capacity addition and safety plans." The increase in freight rates will impact a number of sectors, including power, coal, cement and steel but markets may cheer what they see as the government's intent to forge ahead with difficult policy changes aimed at shoring up the economy. The move will also inflate the fertiliser subsidy.

"The railway freight hike would be negative for sectors such as cement, coal and steel, but markets may show some resilience as this shows the government's intent to go ahead with hard reforms," said Kunj Bansal, executive director and CIO at CentrumBSE -1.93 % Wealth Management.

It is likely that the new government will make passenger fares and freight rates the responsibility of an independent Railway Tariff Authority after the budget, putting it outside government control. 
(Source: http://economictimes.indiatimes.com/industry/transportation/railways/rail-passenger-fares-hiked-by-14-2-freight-rates-by-6-5/articleshow/36890075.cms)

Friday 20 June 2014

Closing Summary, Market Synopsis: 20th June, 2014


Key benchmark indices fell for the third straight day on Friday, hitting their lowest close in over two weeks, CNX Nifty shut shop at 7511.45 down by 29.25 points. The Sensex and Nifty also ended down for the second consecutive week on profit-taking after touching record highs on June 11 and worries over escalating tensions in Iraq.

The market breadth, indicating the overall health of the market was negative, in Nifty50 stocks the advances to declines stands at 12 advances to 38 declines. Barring CNX IT, Realty & Media, all sectors traded on NSE closed in the red.
Photo: Closing Market Update:
Key benchmark indices fell for the third straight day on Friday, hitting their lowest close in over two weeks, CNX Nifty shut shop at 7511.45 down by 29.25 points. The Sensex and Nifty also ended down for the second consecutive week on profit-taking after touching record highs on June 11 and worries over escalating tensions in Iraq.
 
The market breadth, indicating the overall health of the market was negative, in Nifty50 stocks the advances to declines stands at 12 advances to 38 declines. Barring CNX IT, Realty & Media, all sectors traded on NSE closed in the red.

Commodity Market Update (Copper):

Photo: Commodity Market Update (Copper):
Precious metals on CMX are trading volatile since morning after the last night’s steep rally on the back of escalating tension in Iraq and Ukraine. Actively traded Gold contract dropped from the two month high of 1322.50 and tested a low of 1307.10 before settling flat at 1313.10 while Silver is up 0.57% or 11.7 cents to trade at 20.75 after having tested a high of 20.85 an ounce. With the exception of Nickel, Base metals are trading higher since morning with Copper trading at 6782.50, up 48 points or 0.71% after having tested a high of 6994.00, followed by rest of the metals which are trading up around half a percent each. WTI Crude Oil is trading flat at 106.00 with slightly negative bias while Natural Gas is up more than half a percent or 2.7 cents to trade at 4.63 per mmbtu.
Precious metals on CMX are trading volatile since morning after the last night’s steep rally on the back of escalating tension in Iraq and Ukraine. Actively traded Gold contract dropped from the two month high of 1322.50 and tested a low of 1307.10 before settling flat at 1313.10 while Silver is up 0.57% or 11.7 cents to trade at 20.75 after having tested a high of 20.85 an ounce. With the exception of Nickel, Base metals are trading higher since morning with Copper trading at 6782.50, up 48 points or 0.71% after having tested a high of 6994.00, followed by rest of the metals which are trading up around half a percent each. WTI Crude Oil is trading flat at 106.00 with slightly negative bias while Natural Gas is up more than half a percent or 2.7 cents to trade at 4.63 per mmbtu.

Thursday 19 June 2014

Closing Summary, Market Synopsis: 19th June, 2014

Photo: Closing Market Update:
Benchmark as well as broader indices fell for the second consecutive session on Thursday amid rising tension in Iraq and further tapering by Federal Reserve. The Sensex fell 44.45 points to close at 25201.80 while the Nifty held 7500 level amid pressure, down 17.50 points to 7540.70 after hitting an intraday low of 7502.55. The BSE Midcap and Smallcap indices were down 0.4 percent and 0.3 percent, respectively. On sectoral front, BSE Oil and Gas sector lost most of the ground, plunged over 3% while BSE Teck was top performing sectors among the group and rest of the sectors closed mixed.
 Further, the market breadth stands negative with 662 shares advancing against the 865 declining shares.
Benchmark as well as broader indices fell for the second consecutive session on Thursday amid rising tension in Iraq and further tapering by Federal Reserve. The Sensex fell 44.45 points to close at 25201.80 while the Nifty held 7500 level amid pressure, down 17.50 points to 7540.70 after hitting an intraday low of 7502.55. The BSE Midcap and Smallcap indices were down 0.4 percent and 0.3 percent, respectively. On sectoral front, BSE Oil and Gas sector lost most of the ground, plunged over 3% while BSE Teck was top performing sectors among the group and rest of the sectors closed mixed.
Further, the market breadth stands negative with 662 shares advancing against the 865 declining shares.

Morning Summary, Market Synopsis: 19th June, 2014


Volatility ruled the roost in late trade as fresh selling derailed an intraday recovery triggered in mid-afternoon trade on positive European stocks. As per provisional closing, the S&P BSE Sensex was down 320.75 points or 1.26% to 25,200.44, CNX Nifty was down 89.30 points or 1.17% to 7,542.40. The index hit a high of 7,663 in intraday trade, its highest level since 13 June 2014.

The market breadth, indicating the overall health of the market was negative, in Nifty50 stocks the advances to declines stands at 10 advances to 40 declines. Barring CNX Pharma & Media, all sectors traded on NSE closed in the red.
Photo: Morning Market Update: 
Volatility ruled the roost in late trade as fresh selling derailed an intraday recovery triggered in mid-afternoon trade on positive European stocks. As per provisional closing, the S&P BSE Sensex was down 320.75 points or 1.26% to 25,200.44, CNX Nifty was down 89.30 points or 1.17% to 7,542.40. The index hit a high of 7,663 in intraday trade, its highest level since 13 June 2014.
 
The market breadth, indicating the overall health of the market was negative, in Nifty50 stocks the advances to declines stands at 10 advances to 40 declines. Barring CNX Pharma & Media, all sectors traded on NSE closed in the red.

Wednesday 18 June 2014

Commodity Market Update (Crude Oil)


Precious metals are trading lower today in CMX with Gold trading down by 0.24% and Silver is lower by 0.14% at 1269.0 and 19.70 an ounce. The short term view remains negative and we can see prices drifting lower in coming days. Crude Oil and Natural Gas prices are trading nominally higher as we write this. Crude Oil is at 106.69 and Natural Gas is at 4.71. Base metals are trading flat on LME with no major changes. Copper is at 6716.0, lower by 0.04% and Nickel is at 18760.0, lower by 2.41% at the time of writing this.
Photo: Commodity Market Update:
Precious metals are trading lower today in CMX with Gold trading down by 0.24% and Silver is lower by 0.14%  at 1269.0 and 19.70 an ounce.  The short term view remains negative and we can see prices drifting lower in coming days. Crude Oil and Natural Gas prices are trading nominally higher as we write this. Crude Oil is at 106.69 and Natural Gas is at 4.71. Base metals are trading flat on LME with no major changes. Copper is at 6716.0, lower by 0.04% and Nickel is at 18760.0, lower by 2.41% at the time of writing this.

Morning Summary, Market Synopsis: 18th June, 2014


It is a gap up opening on Wednesday. The Sensex is up 44.00 points at 25565.19 and the Nifty is up 4.35 points at 7636.05. The Indian rupee slipped further. It has opened with a gap down of 26 paise at 60.29 per dollar against 60.03 Tuesday. The dollar index rose to 80.6 after the US CPI reading for May came in above market expectations and ahead of the FOMC decision tonight. Global cues, meanwhile, are mixed with the US markets having extended their advance ahead of the FOMC decision. Asian markets are mixed in morning trade. On BSE, Midcap is higher by 0.96% and Smallcap is up by 1.05% as we write this.
Further the market breath stands positive with 1553 shares are seen advancing against 687 declining shares.
Photo: Morning Market Update:
It is a gap up opening on Wednesday. The Sensex is up 44.00 points at 25565.19 and the Nifty is up 4.35 points at 7636.05. The Indian rupee slipped further. It has opened with a gap down of 26 paise at 60.29 per dollar against 60.03 Tuesday. The dollar index rose to 80.6 after the US CPI reading for May came in above market expectations and ahead of the FOMC decision tonight. Global cues, meanwhile, are mixed with the US markets having extended their advance ahead of the FOMC decision. Asian markets are mixed in morning trade. On BSE, Midcap is higher by 0.96% and Smallcap is up by 1.05% as we write this.
Further the market breath stands positive with 1553 shares are seen advancing against 687 declining shares.

Tuesday 17 June 2014

Closing Summary, Market Synopsis: 17th June, 2014

After a lackluster first half, Indian stocks rallied in second half of the day's trading session as crude oil prices futures eased in volatile trade and as Reserve Bank of India Governor Raghuram Rajan's comments that India is currently better prepared to deal with any shocks on the external front compared to last year triggered recovery in rupee against the dollar. Gains in Asian and European stocks also aided the rally on the domestic bourses. The benchmark BSE Sensex provisionally gained 1.31 percent to 25,521.19, while the broader Nifty ended 1.3 percent higher at 7,631.70.

The market breadth, indicating the overall health of the market was strong, in Nifty50 stocks the advances to declines stands at 39 advances to 11 declines.
Photo: Closing Market Update: 
After a lackluster first half, Indian stocks rallied in second half of the day's trading session as crude oil prices futures eased in volatile trade and as Reserve Bank of India Governor Raghuram Rajan's comments that India is currently better prepared to deal with any shocks on the external front compared to last year triggered recovery in rupee against the dollar. Gains in Asian and European stocks also aided the rally on the domestic bourses. The benchmark BSE Sensex provisionally gained 1.31 percent to 25,521.19, while the broader Nifty ended 1.3 percent higher at 7,631.70.
 
The market breadth, indicating the overall health of the market was strong, in Nifty50 stocks the advances to declines stands at 39 advances to 11 declines.

Morning Summary, Market Synopsis: 17th June, 2014

The market has opened in red as possibility of an Iraq civil war looms large. The Sensex is down 1.02 points at 25189.46 and the Nifty is down 8.50 points at 7525.05. The Indian rupee declined in early trade. It opened lower by 20 paise at 60.35 per dollar as against Monday's close of 60.15 a dollar. The dollar index lost momentum at 80.7 to end in the red ahead of the FOMC rate decision tomorrow, while the yen ruled at 4 month highs on account a heightened risk aversion in global markets. On BSE, midcap and smallcap are trading higher with gains of 0.50% and 1.05% respectively.
Further the market breath stands positive with 1470 shares are seen advancing aginst 811 declining shares.
Photo: Morning Market Update:
The market has opened in red as possibility of an Iraq civil war looms large. The Sensex is down 1.02 points at 25189.46 and the Nifty is down 8.50 points at 7525.05. The Indian rupee declined in early trade. It opened lower by 20 paise at 60.35 per dollar as against Monday's close of 60.15 a dollar. The dollar index lost momentum at 80.7 to end in the red ahead of the FOMC rate decision tomorrow, while the yen ruled at 4 month highs on account a heightened risk aversion in global markets. On BSE, midcap and smallcap are trading higher with gains of 0.50% and 1.05% respectively.
Further the market breath stands positive with 1470 shares are seen advancing aginst 811 declining shares.

Monday 16 June 2014

Closing Summary, Market Synopsis: 16th June, 2014

Key benchmark indices fell for a second straight session on Monday to its lowest close in 1-1/2 weeks on risk aversion among investors due to tensions in Iraq and Ukraine, Brent crude rose above $113 per barrel to a near nine-month high as Sunni insurgents advanced in Iraq, intensifying concerns over a potential disruption in oil exports, while Ukraine also added to investors' concerns.

Wholesale price-based inflation in May accelerated to a five-month high of 6.01 percent, driven up by higher food and fuel costs, government data showed. The market breadth, indicating the overall health of the market was negative, in Nifty50 stocks the advances to declines stands at 23 advances to 27 declines.
Photo: Closing Market Update:
Key benchmark indices fell for a second straight session on Monday to its lowest close in 1-1/2 weeks on risk aversion among investors due to tensions in Iraq and Ukraine, Brent crude rose above $113 per barrel to a near nine-month high as Sunni insurgents advanced in Iraq, intensifying concerns over a potential disruption in oil exports, while Ukraine also added to investors' concerns.
 
Wholesale price-based inflation in May accelerated to a five-month high of 6.01 percent, driven up by higher food and fuel costs, government data showed. The market breadth, indicating the overall health of the market was negative, in Nifty50 stocks the advances to declines stands at 23 advances to 27 declines.

Commodity Market Update (Gold)

Precious metals on CMX are continuing their gaining momentum due to geopolitical tension in Iraq which spurred demand for the safe heavens. Actively traded Gold contract tested a high of 1285.10 before settling at 1281.70, up 0.61% or 7.80 points and Silver is trading at 19.73, up 7 cents or 0.36% after having tested a high of 19.875 an ounce. Base metals gained on the London Metal Exchange on the back of better than the expected industrial production from the world largest consumer of base metals. 3-month Nickel is leading the metals group, surge around 2% or 356 points to trade at 18438.00 and Copper is gaining around a percent or 66.50 points to trade at 6708.50, followed by rest of the metals. WTRI Crude Oil is trading flat at 107.03 with positive bias and Natural Gas rose 3.4 cents or 0.72% top trade at 4.773 per mmbtu.
Photo: Commodity Market Update (Gold):
Precious metals on CMX are continuing their gaining momentum due to geopolitical tension in Iraq which spurred demand for the safe heavens. Actively traded Gold contract tested a high of 1285.10 before settling at 1281.70, up 0.61% or 7.80 points and Silver is trading at 19.73, up 7 cents or 0.36% after having tested a high of 19.875 an ounce. Base metals gained on the London Metal Exchange on the back of better than the expected industrial production from the world largest consumer of base metals. 3-month Nickel is leading the metals group, surge around 2% or 356 points to trade at 18438.00 and Copper is gaining around a percent or 66.50 points to trade at 6708.50, followed by rest of the metals. WTRI Crude Oil is trading flat at 107.03 with positive bias and Natural Gas rose 3.4 cents or 0.72% top trade at 4.773 per mmbtu.

Morning Summary, Market Synopsis: 16th June, 2014

The market has opened on a lower note. The Sensex is down 36.32 points at 25191.85, and the Nifty slips 17.20 points at 7524.90. The rupee opened lower by 6 paise at 59.82 per dollar as against Friday's close of 59.76 a dollar. The rupee is trading at lowest level since May 13, 2014. Global markets, meanwhile, are mixed with Asian equities starting the week lower with escalating violence in Iraq weighing on sentiment. US markets moved cautiously higher while Europe ended lower with investors tracking the developments in Iraq closely. On BSE, Midcap and Smallcap are trading lower with Midcap down by 0.69% and Small cap was lower 0.80% as we write this.
Further the market breath stands negative with 820 shares are seen advancing against 1531 declining shares.
Photo: Morning Market Update:
The market has opened on a lower note. The Sensex is down 36.32 points at 25191.85, and the Nifty slips 17.20 points at 7524.90. The rupee opened lower by 6 paise at 59.82 per dollar as against Friday's close of 59.76 a dollar. The rupee is trading at lowest level since May 13, 2014. Global markets, meanwhile, are mixed with Asian equities starting the week lower with escalating violence in Iraq weighing on sentiment. US markets moved cautiously higher while Europe ended lower with investors tracking the developments in Iraq closely. On BSE, Midcap and Smallcap are trading lower with Midcap down by 0.69% and Small cap was lower 0.80% as we write this.
Further the market breath stands negative with 820 shares are seen advancing against 1531 declining shares.

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Photo: Exciting time for investors are back.
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Friday 13 June 2014

Closing Summary, Market Synopsis: 13th June, 2014

The Nifty slumped nearly 1.5 percent on Friday, posting its biggest single-day fall in nearly 4-1/2 months as blue-chips shares fell on risk aversion after crude oil scaled nine-month highs on rising violence in Iraq. The Nifty lost 1.41 percent, or 107.80 points, to end at 7,542.10, closing below the psychologically important 7,600 level, also declining 0.54 percent for the week.

Crude oil prices surged as escalating violence in Iraq threatened supplies from OPEC's second-largest oil producer. Increase in crude oil prices raised concerns of increase in India's current account deficit and fiscal deficit. India imports majority of its crude oil requirements. The market breadth, indicating the overall health of the market was negative, in Nifty50 stocks the advances to declines stands at 8 advances to 32 declines.

Photo: Closing Market Update:
The Nifty slumped nearly 1.5 percent on Friday, posting its biggest single-day fall in nearly 4-1/2 months as blue-chips shares fell on risk aversion after crude oil scaled nine-month highs on rising violence in Iraq. The Nifty lost 1.41 percent, or 107.80 points, to end at 7,542.10, closing below the psychologically important 7,600 level, also declining 0.54 percent for the week.
 
Crude oil prices surged as escalating violence in Iraq threatened supplies from OPEC's second-largest oil producer. Increase in crude oil prices raised concerns of increase in India's current account deficit and fiscal deficit. India imports majority of its crude oil requirements. The market breadth, indicating the overall health of the market was negative, in Nifty50 stocks the advances to declines stands at 8 advances to 32 declines.

Commodity Market Update (Copper)

Precious metals on COMEX are trading flat after having a fresh three weeks high on the back of weaker economic releases from the world largest economy US and violence in Iraq also spur demand for safe heavens. Actively traded Gold contract tested a high of 1277.60 before settling flat at 1273.90 and Silver is trading at 19.55 after having tested a high of 19.64 an ounce. With the exception on Nickel, Base metals are trading higher since morning after the last couple of days huge sell off. 3-month Copper is up 0.63% or 42 points to trade at 6660.00, followed by rest of the metals which are gaining around half a percent each while Nickel is losing 1.17% or 212 points to trade at 17875.00. WTI Crude Oil tested nine months high of 107.68 due to supply concern. Light Sweet Crude Oil futures gained half a percent or 51 cents to trade at 107.04 while Natural Gas is trading at 4.74, down 0.46% or 2 cents per mmbtu.
Commodity Market Update (Copper):
Precious metals on COMEX are trading flat after having a fresh three weeks high on the back of weaker economic releases from the world largest economy US and violence in Iraq also spur demand for safe heavens. Actively traded Gold contract tested a high of 1277.60 before settling flat at 1273.90 and Silver is trading at 19.55 after having tested a high of 19.64 an ounce. With the exception on Nickel, Base metals are trading higher since morning after the last couple of days huge sell off. 3-month Copper is up 0.63% or 42 points to trade at 6660.00, followed by rest of the metals which are gaining around half a percent each while Nickel is losing 1.17% or 212 points to trade at 17875.00. WTI Crude Oil tested nine months high of 107.68 due to supply concern. Light Sweet Crude Oil futures gained half a percent or 51 cents to trade at 107.04 while Natural Gas is trading at 4.74, down 0.46% or 2 cents per mmbtu.

Thursday 12 June 2014

Closing Summary, Market Synopsis: 12th June, 2014

The Indian equity market closed nominally higher today after profit booking in the immediate previous session. The Nifty 50 Index closed at 7649.90, +23.05 points and Sensex closed at 25576.20, adding 100 odd points at the time of market closing. The Consumer Price Index data for May and the Index of Industrial Production data for April will release 5.30 PM today. The CPI data is expected to be around 8.4 percent against 8.59 percent month-on-month and the IIP data is seen around 1.9 percent versus -0.5 percent (MoM) respectively. Midcap and Smallcap on BSE also ended in green with gains of 0.52% and 0.36% respectively. On sectoral front, Healthcare is the top performer to surge 1.39% while on the other hand, Teck ended lower with logging decline of 0.19%.
Further the market breath stands positive with 1746 shares was seen advancing against 1356 declining shares.
Photo: Closing Market Update:
The Indian equity market closed nominally higher today after profit booking in the immediate previous session. The Nifty 50 Index closed at 7649.90, +23.05 points  and Sensex closed at 25576.20, adding 100 odd points at the time of market closing. The Consumer Price Index data for May and the Index of Industrial Production data for April will release 5.30 PM today. The CPI data is expected to be around 8.4 percent against 8.59 percent month-on-month and the IIP data is seen around 1.9 percent versus -0.5 percent (MoM) respectively. Midcap and Smallcap on BSE also ended in green with gains of 0.52% and 0.36% respectively. On sectoral front, Healthcare is the top performer to surge 1.39% while on the other hand, Teck ended lower with logging decline of 0.19%.
Further the market breath stands positive with 1746 shares was seen advancing against 1356 declining shares.a

Morning Summary, Market Synopsis: 12th June, 2014

Indian equity benchmarks continued to consolidate for the third day on Thursday. The Sensex rose 37.94 points to 25511.83 while the Nifty fell 5.10 points to 7621.75. The Indian rupee has opened flat at 59.29 per dollar on Thursday as against previous day's closing value of 59.27 a dollar. Globally, Asian stocks were lower amid concerns about global growth and escalating tensions in Iraq. Uncertainty broke Wall Street's record streak overnight, with the blue-chip Dow Jones stock index losing more than 100 points. Analysts cited many factors for the pullback, including House Majority leader Eric Cantor's shock defeat in the primaries, the World Bank lowering its global growth forecasts and concerns of a sooner-than-expected rate hike from the Federal Reserve. On BSE, Midcap and Small cap are trading up by 0.45% and 0.20% higher today. On scetoral front, top gainer is metal to increase 0.69% while on downside, Auto is lower by 0.12% as we write this.
Further the market breath stands positive with 1200 shares are seen advancing against 884 declining shares.
Photo: Morning Market Update:
Indian equity benchmarks continued to consolidate for the third day on Thursday. The Sensex rose 37.94 points to 25511.83 while the Nifty fell 5.10 points to 7621.75. The Indian rupee has opened flat at 59.29 per dollar on Thursday as against previous day's closing value of 59.27 a dollar. Globally, Asian stocks were lower amid concerns about global growth and escalating tensions in Iraq. Uncertainty broke Wall Street's record streak overnight, with the blue-chip Dow Jones stock index losing more than 100 points. Analysts cited many factors for the pullback, including House Majority leader Eric Cantor's shock defeat in the primaries, the World Bank lowering its global growth forecasts and concerns of a sooner-than-expected rate hike from the Federal Reserve. On BSE, Midcap and Small cap are trading up by 0.45% and 0.20% higher today. On scetoral front, top gainer is metal to increase 0.69% while on downside, Auto is lower by 0.12% as we write this.
Further the market breath stands positive with 1200 shares are seen advancing against 884 declining shares.