Market Live: Sensex consolidates ahead of FOMC meet outcome; RBL Bank most active
The broader markets continued to outperform benchmarks, with the BSE Midcap and Smallcap indices rising 0.4 percent each on positive breadth.
10:39 am JLR sales: The luxury car maker Jaguar Land Rover has reported a solid growth of 35 percent in US sales during April against 19 percent growth in March.
The subsidiary of Tata Motors during the month sold 8,441 units in the US against 6,275 units sold in same month last year, driven by stellar performance by Jaguar.
Jaguar sales shot up 197 percent at 3,230 units while Land Rover sales grew by 0.4 percent to 5,211 units compared with corresponding month last year.
10:20 am Buzzing: Godrej Properties surged of over 14 percent intraday as investors bet positively on the company’s sales figures for three projects. The stock also clocked its 52-week high mark.
The subsidiary of Tata Motors during the month sold 8,441 units in the US against 6,275 units sold in same month last year, driven by stellar performance by Jaguar.
Jaguar sales shot up 197 percent at 3,230 units while Land Rover sales grew by 0.4 percent to 5,211 units compared with corresponding month last year.
10:20 am Buzzing: Godrej Properties surged of over 14 percent intraday as investors bet positively on the company’s sales figures for three projects. The stock also clocked its 52-week high mark.
In an exchange notification, the company said that it had sold over 1,000 apartments across three newly-launched projects across Mumbai, Pune and Greater Noida.
"Godrej Origins at The Trees in Mumbai witnessed sales of 130 apartments within the first week of launch. The Suites at Godrej Golf Links in Greater Noida received a tremendous response with 500 apartments being sold within the first month of its launch. Godrej 24 in Pune saw sales of over 450 apartments within the launch weekend," the company's press release said.
10.01 am Market Check: Equity benchmarks continued to consolidate in morning ahead the outcome of US Federal Reserve meeting due tonight. Investors also awaited more corporate earnings.
The 30-share BSE Sensex was up 28.98 points at 29,950.16 and the 50-share NSE Nifty gained 14.85 points at 9,328.65.
The broader markets continued to outperform benchmarks, with the BSE Midcap and Smallcap indices rising 0.4 percent each on positive breadth. About three shares advanced for every two shares declining on the exchange.
9:46 am Auto sales: Bajaj Auto said its total sales in April fell 0.3 percent to 3.29 lakh units compared with 3.30 lakh units sold in same month last year. Weak domestic sales hit total sales performance of the company.
Numbers were ahead of Motilal Oswal estimates of 2.71 lakh units.
Domestic sales declined 21 percent to 1.77 lakh units but exports shot up 46 percent to 1.51 lakh units compared with corresponding month last year.
9:30 am Market Outlook: Prashant Mittal of Ambit says Nifty's movement was subdued last week amidst continuing signs of negative divergence with lower highs being formed on momentum indicators (RSI and MACD) vis-a-vis higher highs on price charts.
Given this negative divergence, he advises investors to maintain caution as a correction on the index is likely over the upcoming sessions towards 9,000.
9:15 am Market Check: Equity benchmarks as well as broader markets opened higher on Wednesday despite mixed Asian cues. Investors awaited the outcome of two-day Federal Reserve Policy meeting due tonight.
The 30-share BSE Sensex was up 75.63 points at 29,996.81 and the 50-share NSE Nifty gained 23 points at 9,336.80. About 682 shares advanced against 194 declining shares on the BSE.
Bajaj Auto, NTPC, L&T, Hero Motocorp, ONGC, Power Grid, Bharti Infratel, BPCL and IOC were early gainers while ITC, Maruti, Sun Pharma, TCS, HDFC, Eicher Motors and Indiabulls Housing were under pressure.
The rupee opened 9 paise higher against the dollar at 64.12, as exporters and custodian banks sold the greenback in early trade.
Analysts attributed this intraday correction to the Reserve Bank of India (RBI) intervening to stem the rise of the rupee.
“The bias on the rupee is still positive,” said a dealer with a foreign bank.
“It is quite likely that we could see another sustained rally from here on.”
Asian markets were mixed, as gains on Wall Street overnight were offset by disappointment with Apple earnings, with traders looking ahead to the US Federal Reserve meeting results.
In Australia, the ASX 200 was down 0.95 percent amid declines in banking and some resources shares. The Shanghai Composite shed 0.33 percent while South Korea's Kospi was up 0.65 percent.
"Godrej Origins at The Trees in Mumbai witnessed sales of 130 apartments within the first week of launch. The Suites at Godrej Golf Links in Greater Noida received a tremendous response with 500 apartments being sold within the first month of its launch. Godrej 24 in Pune saw sales of over 450 apartments within the launch weekend," the company's press release said.
10.01 am Market Check: Equity benchmarks continued to consolidate in morning ahead the outcome of US Federal Reserve meeting due tonight. Investors also awaited more corporate earnings.
The 30-share BSE Sensex was up 28.98 points at 29,950.16 and the 50-share NSE Nifty gained 14.85 points at 9,328.65.
The broader markets continued to outperform benchmarks, with the BSE Midcap and Smallcap indices rising 0.4 percent each on positive breadth. About three shares advanced for every two shares declining on the exchange.
9:46 am Auto sales: Bajaj Auto said its total sales in April fell 0.3 percent to 3.29 lakh units compared with 3.30 lakh units sold in same month last year. Weak domestic sales hit total sales performance of the company.
Numbers were ahead of Motilal Oswal estimates of 2.71 lakh units.
Domestic sales declined 21 percent to 1.77 lakh units but exports shot up 46 percent to 1.51 lakh units compared with corresponding month last year.
9:30 am Market Outlook: Prashant Mittal of Ambit says Nifty's movement was subdued last week amidst continuing signs of negative divergence with lower highs being formed on momentum indicators (RSI and MACD) vis-a-vis higher highs on price charts.
Given this negative divergence, he advises investors to maintain caution as a correction on the index is likely over the upcoming sessions towards 9,000.
9:15 am Market Check: Equity benchmarks as well as broader markets opened higher on Wednesday despite mixed Asian cues. Investors awaited the outcome of two-day Federal Reserve Policy meeting due tonight.
The 30-share BSE Sensex was up 75.63 points at 29,996.81 and the 50-share NSE Nifty gained 23 points at 9,336.80. About 682 shares advanced against 194 declining shares on the BSE.
Bajaj Auto, NTPC, L&T, Hero Motocorp, ONGC, Power Grid, Bharti Infratel, BPCL and IOC were early gainers while ITC, Maruti, Sun Pharma, TCS, HDFC, Eicher Motors and Indiabulls Housing were under pressure.
The rupee opened 9 paise higher against the dollar at 64.12, as exporters and custodian banks sold the greenback in early trade.
Analysts attributed this intraday correction to the Reserve Bank of India (RBI) intervening to stem the rise of the rupee.
“The bias on the rupee is still positive,” said a dealer with a foreign bank.
“It is quite likely that we could see another sustained rally from here on.”
Asian markets were mixed, as gains on Wall Street overnight were offset by disappointment with Apple earnings, with traders looking ahead to the US Federal Reserve meeting results.
In Australia, the ASX 200 was down 0.95 percent amid declines in banking and some resources shares. The Shanghai Composite shed 0.33 percent while South Korea's Kospi was up 0.65 percent.
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).
No comments