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Jesus said, "Except ye eat the flesh of the Son of man, and drink his blood, ye have no life in you," (John 6:53).

29 Jan 2016



Indian stocks rose over 1 per cent on Friday to end a three-week losing streak as a rebound in commodity prices and Bank of Japan's (BoJ) bold move to adopt negative interest rates to stimulate the Japanese economy stoked global risk appetite for equities. 

Asian markets gained between 1 per cent and 3 per cent as BoJ's move surprised investors, most of whom had believed Japanese policymakers were too cautious to ever adopt such a radical measure. 
The rally also got legs from global oil prices that were trading above $34 a barrel and heading towards their second weekly gain. 

"Oil prices have recovered 20 per cent from their lows and metal prices have firmed up supporting the market," said G Chokkalingam, founder of Equinomics, a Mumbai-based research and fund advisory firm. 

The Nifty rose as much as 1.87 per cent or 401 points to end at 7,563.55 and the Sensex gained 1.64 per cent or 139 points to shut shop at 24,870.69. 
Gains were led by blue-chip stocks such as Reliance Industries, Housing Development Finance Corp and Infosys. 

Yes Bank surged 11.2 per cent after the lender reported a better-than-expected 25 per cent increase in quarterly profit. 

Vedanta ended 6.62 per cent higher despite reporting a 99 per cent fall in profit after the mining company said it was making efforts to cut costs aggressively. 
Larsen & Toubro ended 2.5 per cent higher ahead of reporting its results due later in the day. 

Among the stocks that fell, ICICI Bank slipped 1.2 per cent, Maruti Suzuki fell 0.18 per cent, while Bharti Airtel was down 0.51 per cent all on the back of reporting disappointing earnings after market close on Thursday.

3:22 p.m.: Radha Madhav Corporation, Visagar Polytex, Jay Shree Tea & Industries, Praj Industries and Aegis Logistics were among the gainers from the small-cap space, up 10.5-20 per cent.
3:08 p.m.: The stock markets extended gains in the last 30 minutes of trade. The Sensex surged 404 points to 24,873 and Nifty advanced 136 points to 7,560.
3:03 p.m.: Bank of Baroda, State Bank of India, Tata Steel, ICICI Bank and NTPC were among the notable losers in the Nifty.
2:50 p.m.: Just Dial shares crash 22 per cent to hit low of Rs 612.15 in two trading sessions post its poor set of third quarter numbers posted yesterday.
2:46 p.m.: TVS Motor company today reported 19 per cent increase in net profit at Rs 108 crore for the quarter ended December 31. 

The firm had posted a net profit of Rs 90 crore for the same period of previous fiscal. 
Net sales of the company rose to Rs 2,909 crore in the third quarter of the current fiscal, up 11.92 per cent, as compared with Rs 2,599 crore during the same period of the previous fiscal, TVS Motor company said in a BSE filing. (Read)

2:42 p.m.: 
2:42 p.m.: The Sensex rallied over 350 points to hit high of 24,828.13 on the back of broad-based buying and Nifty rose 124 points to hit high of 7,548.
2:37 p.m.: Nifty is nearing a near term resistance around 7,550 and given the robust market breadth it seems that it would cross this hurdle. In next couple of weeks the index could head towards 7,700, says Ruchit Jain of Angel Broking.
2:29 p.m.: Government's 10 per cent stake sale in Engineers India fully subscribed; retail category subscribed 1.46 times.
1:56 p.m.: Multiplex operator PVR Ltd today reported 5.29 per cent decline in consolidated net profit at Rs 29.88 crore for the third quarter ended December 2015, due to sharp increase in tax expense.
The company had posted a net profit of Rs 31.55 crore in the same period last fiscal. PVR shares were down 0.06 per cent at Rs 736.
1:50 p.m.: Buying was visible across the sectors. Bank Nifty which was trading in red recovered from intraday losses and was up 0.3 per cent.
1:36 p.m.: The Sensex rallied over 300 points to 24,782.94 and the 50-share Nifty advanced over 100 points to hit high of 7,533.
1:27 p.m.: Shares of Yes Bank have rallied 9.44 per cent to hit high of Rs 734.90 on the back of better-than-estimated third quarter numbers.
1:13 p.m.: Market breadth was positive as 1,459 stocks were advancing while 899 were declining.
1:07 p.m.: BSE capital goods index jumped 1.5 per cent; Suzlon Energy, Sterlite Tech, Sadbhav Engineering, Larsen & Tooubro, Mahindra CIE and Welspun Corp were among the gainers.
12:43 p.m.: Bank Nifty trades marginally lower, down 0.26 per cent; Bank of India, ICICI Bank, SBI and Canara Bank were down 1-3.6 per cent each.
12:31 p.m.: Vedanta was the top gainer in Nifty, up 7 per cent at Rs 72.05. Yes Bank, Coal India, HDFC, Sun Pharma, BPCL, Hero MotoCorp and ONGC were also among the gainers, up 2.3-6.3 per cent each.
12:24 p.m.: Buying was visible across the sectors barring a few banking stocks. Metal, power, oil & gas, capital goods, healthcare and FMCG indices up 1-2 per cent each.
11:59 a.m.: The stock markets continued to trade on a positive note. The Sensex rallied over 200 points to hit high of 24,701 and the Nifty rose above its crucial psychological level of 7,500.
11:54 a.m.: Private sector lender, Yes Bank reported better than estimated earnings in the third quarter of the current financial year.
Yes Bank's net profit in the December quarter jumped 25 per cent to Rs 675.74 crore against Rs 540.29 crore during the same quarter last year.
Net interest income, the difference between interest earned over interest expended, for the bank came in at Rs 1,157 crore against Rs 909 crore year-on-year.
11:20 a.m.: Metal stocks were witnessing buying interest. The BSE Metal index surged 1.8 per cent; Vedanta, Coal India, NMDC and NALCO were among the gainers from this space.
11:15 a.m.: In the budget, push will be on rural economy which will be positive for the consumer durable companies which were struggling due to low margins, says Andrew Holland of Ambit Capital.
11:11 a.m.: The Sensex rose 122 points to 24,591 and Nifty advanced 45 points to 7,469 on the back of buying in metal, oil & gas, power, consumer durables and healthcare stocks.
11:07 a.m.: Maruti Suzuki shares fell 4.39 per cent to hit low of Rs 3,923 after the company posted a 27 per cent rise in its third-quarter profit, the country's top-selling carmaker said in a statement on Thursday, but missed bullish analyst estimates.
Net profit for the three months ended Dec. 31, rose to Rs 1,019 crore compared with Rs 802 crore in the year-ago quarter. Analysts expected it to post a profit of Rs 1,296 crore, according to Thomson Reuters data.
Net sales of the carmaker rose 20 per cent to Rs 14,770 crore. The company sold a total of 374,182 vehicles during the quarter.
10:59 a.m.: Bharti Airtel shares fell nearly 3 per cent to Rs 282.30 after the company said its profit fell 22.2 per cent in the December quarter, missing analyst estimates as finance costs rose.
Consolidated net profit fell to Rs 1,117 crorein its fiscal third quarter to December 31, from Rs 1,437 crore a year earlier, the company said.
Analysts on average had expected a net profit of Rs 1,264 crore, according to data compiled by Thomson Reuters.
10:54 a.m.: Analysts expect Larsen & Toubro to report standalone net profit of Rs 1,079 crore against Rs 1,059 crore during the same period last year. Sales are expected to come in at Rs 15,909 crore against Rs 14,995 crore. L&T shares up 0.49 per cent at Rs 1,082 ahead of earnings.
10:42 a.m.: ICICI Bank shares slumped over 5 per cent on Friday after India's biggest private sector lender by assets reported a sharp rise in bad loans. The slump in ICICI Bank shares impacted sentiments across banking stocks. The Nifty Bank, sub-index of banking stocks, traded 1.2 per cent lower as compared to 0.4 per cent rise in the broader Nifty.(Read)

10:37 a.m.: 
10:37 a.m.: Bank Nifty extends losses, falls 1.2 per cent to 15,197; Bank of Baroda, ICICI Bank, Canara Bank, State Bank of India, Bank of India, Punjab National Bank and Yes Bank were among the losers, down 1.5-4.8 per cent each.
10:07 a.m.: Market breadth was positive as 1,031 stocks were advancing while 710 were declining.
10:03 a.m.: Larsen & Toubro and NTPC were trading on a positive note while Yes Bank fell 1.88 per cent ahead of their third quarter numbers which will be announced later in the day.
9:58 a.m.: Banking shares were witnessing selling pressure. The Bank Nifty was down 1 per cent owing to weakness in ICICI Bank, Bank of Baroda, Canara Bank, State Bank of India, Axis Bank and Bank of India.
9:55 a.m.: The Sensex which rose over 150 points in the opening deals came off the intra-day high levels on the back of selling in banking and auto stocks. The Sensex was up 89 points at 24,559 and the 50-share Nifty advanced 31 points to 7,456.
9:45 a.m.: Asian shares jumped on Friday and the yen swooned after the Bank of Japan stunned markets by adopting negative interest rates in its boldest step yet to reinflate the long-languishing economy.
9:42 a.m.: The Bank of Japan on Friday shocked financial markets by adopting negative interest rates to forestall risks that global market volatility could damage business confidence and revive a deflationary mindset.
In a 5-4 vote, the central bank decided to charge 0.1 per cent interest on current accounts that financial institutions hold at the BOJ.
9:30 a.m.: The Sensex rose over 150 points and Nifty moved above its key level of 7,450 on the back of buying in oil & gas, metal, IT and healthcare stocks.
Meanwhile, the Bank of Japan in a move to add more stimulus to support the economy adopted negative interest rates at the end of its two-day policy meet.
Back home, Vedanta was the top gainer in the Nifty the stock jumped 6 per cent to Rs 71.40. Cairn India, Sun Pharma, Coal India, ONGC, Mahindra & Mahindra, GAIL India and ITC were also among the gainers.
On the other hand, ICICI Bank shares slumped over 5 per cent to hit low of Rs 223.60 after the bank saw its bad loans surge in the December quarter on a central bank order to reclassify some troubled loan accounts, and predicted sour assets will rise further this quarter.
The lender, which is also listed in New York, reported on Thursday its standalone net profit in its fiscal third quarter to December 31 rose 4.5 per cent from a year earlier to Rs 3,018 crore ($443 million), in line with analysts' estimates of Rs 3,017 crore on average.
Maruti Suzuki also fell 3.25 per cent to Rs 3,923 on the back of disappointing third quarter numbers.

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