Market Live: Sensex, Nifty consolidate ahead of RBI MPC meet; HDFC down 2%
Investors sit on the fence ahead of the central bank’s meeting outcome on Thursday. Investors largely expect it to maintain status quo on interest rates.
Shares of Titan glittered on Dalal Street as investors cheered the company’s positive comments on its performance in the fourth quarter.
Consumer sentiment as well as demand scenario have recovered "quite significantly" in the January-March quarter, the Tata group firm said. The company witnessed sales traction during the period across all divisions, including jewellery, watches and eyewear, and is expecting a good year ahead.
"Consumer sentiment as well as demand scenario recovered quite significantly (post demonetisation) by the beginning of the fourth quarter of 2016-17 and sales were good for all divisions by varying degrees," the company said in a filing to the exchanges.
Market Check: Benchmark indices were seen consolidating ahead of the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) meeting on Thursday.
The Sensex was down 12.08 points at 29898.14, while the Nifty was up 2.50 points at 9240.35. The market breadth remained healthy as 1,747 shares advanced against a decline of 689 shares, while 106 shares were unchanged.
Adani Ports, Tata Steel and Bharti Infratel were among the top gainers, while HDFC and Mahindra & Mahindra lost the most on both indices.
Shares of Artson Engineering and Nila Infrastructures rose more than 4 percent and 7 percent intraday Wednesday on order win.
Artson Engineering received a contract of approximately Rs 12.50 crore from Tata Projects for the piping and mechanical works in the state of Maharashtra, India.
Nila Infrastructures has received work order from AMC towards construction of D.K. Patel hall at Ahmedabad.
Meanwhile, Titan witnessed a surge of over 5 percent intraday after the company indicated at a strong performance in Q4. The rally in the stock also spilled over to other jewellery stocks as PC Jewellers rose over 4 percent, while Gitanjali Gems was up 3 percent.
Market Outlook: Birla Sun Life AMC was not too aggressive at the current market levels. It saw a gradual recovery in economy as well as earnings. Companies with good earnings visibility will be key to the market, Mahesh Patil, Co-Chief Investment Officer at Birla Sun Life AMC told CNBC-TV18 in an interview.
“Domestic-focussed companies will see a pick-up in earnings growth,” Patil told the channel.
Fund raising: Two of PTC India's subsidiaries - the listed energy sector lender PTC India Financial Services and the unlisted renewable power generator PTC Energy – may raise equity from outside sources in the current financial year, according to an official familiar with the development.
“We have so far invested Rs 650 crore equity in PTC Energy and Rs 750 crores in PTC Financial as equity," the official with the parent company told Moneycontrol. "Now it is up to the two to raise equity to fund their growth plans. It’s not that we don’t want to invest more equity and won’t invest in the two, but we feel the two companies should now also look at outside sources.”
While PTC India wholly owns PTC Energy, it has a 64.99 percent stake in PTC India Financial, having increased its stake during the last concluded quarter from 60 percent at a cost of Rs. 308.77 crore.
Market Check: Benchmark indices remained rangebound in morning ahead outcome of two-day Monetary Policy Committee meeting due tomorrow.
The 30-share BSE Sensex was down 38.43 points at 29,871.79 and the 50-share NSE Nifty fell 4.50 points to 9,233.35.
The broader markets outperformed benchmarks, with the BSE Midcap index rising 0.4 percent and Smallcap gaining 0.7 percent on positive market breadth. About five shares advanced for every two shares declining on the exchange.
Shankara Building Products share price opened sharply higher at Rs 573 on Wednesday, a whopping 24.66 percent premium over its issue price of Rs 460.
Fund raising: IL&FS Transportation said it will raise Rs 750 crore through non-convertible debentures.
The committee of directors has given nod for allotment of 7,500 debentures aggregating to Rs 750 crore, it said in a BSE filing.
IPO pre-opening: Shankara Building Products share price settled at Rs 555.05 in pre-opening trade, up 20.66 percent over issue price of Rs 460.
The listing was on expected lines as its issue had seen overwhelming response from investors, oversubscribing 41.60 times.
Buzzing: Shares of KEC International touched 52-week high of Rs 220.85, rises 4.4 percent intraday as it has won orders worth Rs 1781 crore.
The company’s transmission and distribution business has won orders worth Rs 1702 crore, which includes orders worth Rs 1270 crore from international markets.
The transmission business of the company got an order worth Rs 432 crore in domestic market from PGCIL of 800 kV HVDC transmission line and construction & extension of 765/400 kV GIS/AIS substations.
The cable and solar businesses of the company have secured various orders for cable supply/ EHV cabling/roof top solar project worth Rs 79 crore.
What's on RBI radar: HSBC expects the RBI to keep policy rates on hold on April 6. On commentary, it could well choose to tread a middle path - acknowledge that global pressures have abated, but in the same breath stress that domestic uncertainties remain, it says.
According to investment firm, the RBI could use the policy day to outline a mix of measures to absorb excess liquidity. It is also likely to discuss details around the introduction of the Standing Deposit Facility, the much anticipated window, which promises to give the RBI unlimited capability to remove excess liquidity in periods of surplus.
Also read - Buy, Sell, Hold: Six stocks that analysts have on their radar today
Market Check: After a holiday, equity benchmarks opened higher on Wednesday, with the Sensex crossing 30,000-mark but failed to sustain that level as investors turned cautious ahead of Monetary Policy Committee meet later today.
Majority of economists expect unchanged in rates from the Reserve Bank of India but the commentary will be closely watched, especially after the RBI, in last meet, changed its stance from accommodative to neutral.
The 30-share BSE Sensex was down 79.75 points at 29,830.47 and the 50-share NSE Nifty fell 15.15 points to 9,222.70, dragged by HDFC, ITC, Infosys and ICICI Bank.
However, Reliance Industries continued to support the market, up nearly 2 percent on value buying.
The Indian rupee opened marginally lower at 65.07 per dollar against Monday's closing value of 65.02.
Bhaskar Panda of HDFC Bank feels the rupee is likely to remain rangebound today and stay between 64.90-65.10/dollar.
The dollar was flat but traded lower against the yen which rose to a one-week high. Caution prevails ahead of the US china meeting. Investors will be watching for any discussion on trade or currency manipulation.
Asian shares were in positive territory, amid concerns over North Korea's latest ballistic missile test which landed in the Sea of Japan.
We are SEBI Registered Investment Adviser in India we Provides different services for share market trading. For More Information about our services and tips like Commodity Trading Tips, Nifty tips, Equity Tips Free Trial and Forex Tips Call Us 📲 +91-7400574001. Or simply Fill Free Trial Form attached in this Blog(Right Side).
Shares of Titan glittered on Dalal Street as investors cheered the company’s positive comments on its performance in the fourth quarter.
Consumer sentiment as well as demand scenario have recovered "quite significantly" in the January-March quarter, the Tata group firm said. The company witnessed sales traction during the period across all divisions, including jewellery, watches and eyewear, and is expecting a good year ahead.
"Consumer sentiment as well as demand scenario recovered quite significantly (post demonetisation) by the beginning of the fourth quarter of 2016-17 and sales were good for all divisions by varying degrees," the company said in a filing to the exchanges.
Market Check: Benchmark indices were seen consolidating ahead of the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) meeting on Thursday.
The Sensex was down 12.08 points at 29898.14, while the Nifty was up 2.50 points at 9240.35. The market breadth remained healthy as 1,747 shares advanced against a decline of 689 shares, while 106 shares were unchanged.
Adani Ports, Tata Steel and Bharti Infratel were among the top gainers, while HDFC and Mahindra & Mahindra lost the most on both indices.
Shares of Artson Engineering and Nila Infrastructures rose more than 4 percent and 7 percent intraday Wednesday on order win.
Artson Engineering received a contract of approximately Rs 12.50 crore from Tata Projects for the piping and mechanical works in the state of Maharashtra, India.
Nila Infrastructures has received work order from AMC towards construction of D.K. Patel hall at Ahmedabad.
Meanwhile, Titan witnessed a surge of over 5 percent intraday after the company indicated at a strong performance in Q4. The rally in the stock also spilled over to other jewellery stocks as PC Jewellers rose over 4 percent, while Gitanjali Gems was up 3 percent.
Market Outlook: Birla Sun Life AMC was not too aggressive at the current market levels. It saw a gradual recovery in economy as well as earnings. Companies with good earnings visibility will be key to the market, Mahesh Patil, Co-Chief Investment Officer at Birla Sun Life AMC told CNBC-TV18 in an interview.
“Domestic-focussed companies will see a pick-up in earnings growth,” Patil told the channel.
Fund raising: Two of PTC India's subsidiaries - the listed energy sector lender PTC India Financial Services and the unlisted renewable power generator PTC Energy – may raise equity from outside sources in the current financial year, according to an official familiar with the development.
“We have so far invested Rs 650 crore equity in PTC Energy and Rs 750 crores in PTC Financial as equity," the official with the parent company told Moneycontrol. "Now it is up to the two to raise equity to fund their growth plans. It’s not that we don’t want to invest more equity and won’t invest in the two, but we feel the two companies should now also look at outside sources.”
While PTC India wholly owns PTC Energy, it has a 64.99 percent stake in PTC India Financial, having increased its stake during the last concluded quarter from 60 percent at a cost of Rs. 308.77 crore.
Market Check: Benchmark indices remained rangebound in morning ahead outcome of two-day Monetary Policy Committee meeting due tomorrow.
The 30-share BSE Sensex was down 38.43 points at 29,871.79 and the 50-share NSE Nifty fell 4.50 points to 9,233.35.
The broader markets outperformed benchmarks, with the BSE Midcap index rising 0.4 percent and Smallcap gaining 0.7 percent on positive market breadth. About five shares advanced for every two shares declining on the exchange.
Shankara Building Products share price opened sharply higher at Rs 573 on Wednesday, a whopping 24.66 percent premium over its issue price of Rs 460.
Fund raising: IL&FS Transportation said it will raise Rs 750 crore through non-convertible debentures.
The committee of directors has given nod for allotment of 7,500 debentures aggregating to Rs 750 crore, it said in a BSE filing.
IPO pre-opening: Shankara Building Products share price settled at Rs 555.05 in pre-opening trade, up 20.66 percent over issue price of Rs 460.
The listing was on expected lines as its issue had seen overwhelming response from investors, oversubscribing 41.60 times.
Buzzing: Shares of KEC International touched 52-week high of Rs 220.85, rises 4.4 percent intraday as it has won orders worth Rs 1781 crore.
The company’s transmission and distribution business has won orders worth Rs 1702 crore, which includes orders worth Rs 1270 crore from international markets.
The transmission business of the company got an order worth Rs 432 crore in domestic market from PGCIL of 800 kV HVDC transmission line and construction & extension of 765/400 kV GIS/AIS substations.
The cable and solar businesses of the company have secured various orders for cable supply/ EHV cabling/roof top solar project worth Rs 79 crore.
What's on RBI radar: HSBC expects the RBI to keep policy rates on hold on April 6. On commentary, it could well choose to tread a middle path - acknowledge that global pressures have abated, but in the same breath stress that domestic uncertainties remain, it says.
According to investment firm, the RBI could use the policy day to outline a mix of measures to absorb excess liquidity. It is also likely to discuss details around the introduction of the Standing Deposit Facility, the much anticipated window, which promises to give the RBI unlimited capability to remove excess liquidity in periods of surplus.
Also read - Buy, Sell, Hold: Six stocks that analysts have on their radar today
Market Check: After a holiday, equity benchmarks opened higher on Wednesday, with the Sensex crossing 30,000-mark but failed to sustain that level as investors turned cautious ahead of Monetary Policy Committee meet later today.
Majority of economists expect unchanged in rates from the Reserve Bank of India but the commentary will be closely watched, especially after the RBI, in last meet, changed its stance from accommodative to neutral.
The 30-share BSE Sensex was down 79.75 points at 29,830.47 and the 50-share NSE Nifty fell 15.15 points to 9,222.70, dragged by HDFC, ITC, Infosys and ICICI Bank.
However, Reliance Industries continued to support the market, up nearly 2 percent on value buying.
The Indian rupee opened marginally lower at 65.07 per dollar against Monday's closing value of 65.02.
Bhaskar Panda of HDFC Bank feels the rupee is likely to remain rangebound today and stay between 64.90-65.10/dollar.
The dollar was flat but traded lower against the yen which rose to a one-week high. Caution prevails ahead of the US china meeting. Investors will be watching for any discussion on trade or currency manipulation.
Asian shares were in positive territory, amid concerns over North Korea's latest ballistic missile test which landed in the Sea of Japan.
We are SEBI Registered Investment Adviser in India we Provides different services for share market trading. For More Information about our services and tips like Commodity Trading Tips, Nifty tips, Equity Tips Free Trial and Forex Tips Call Us 📲 +91-7400574001. Or simply Fill Free Trial Form attached in this Blog(Right Side).
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