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Thursday, August 16, 2018

Nifty gives up 11,400, Sensex opens over 150 points lower; banks drag

Selling is visible among major sectoral indices, with maximum cuts seen in banks as well as metals. A weaker rupee is boosting stocks in the tech space.

Coming back after a trading holiday on Wednesday, equity benchmarks have resumed the truncated week on a negative note, with the Nifty giving up 11,400 in the opening tick. The Sensex is lower by over 150 points.

At 09:15 hrs IST, the Sensex is trading lower by 183.89 points or 0.49% at 37668.11, while the Nifty is down 56.80 points or 0.50% at 11378.30. The market breadth is narrow as 326 shares advanced, against a decline of 326 shares, while 69 shares are unchanged.

Selling is visible among major sectoral indices, with maximum cuts seen in banks as well as metals. A weaker rupee is boosting stocks in the tech space, while pharmaceuticals are trading around half a percent higher.

Among stocks, Kotak Mahindra Bank is down 2 percent following a regulatory issue, while Sun Pharma is up around 2 percent on the back of good results for the June quarter.

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Source: https://www.moneycontrol.com/news/business/markets/market-live-nifty-gives-up-11400-sensex-opens-over-150-points-lower-banks-drag-2847351.html

Opening Bell (16 August 2018)

Tuesday, August 14, 2018

Closing Bell: Bulls make a comeback! Sensex ends 200 pts higher, Nifty above 11,400; banks, pharma surge

Gains were largely led by banking names as the Bank Nifty ended around a percent higher. Additionally, pharmaceuticals, automobiles, energy and IT names were the top gainers

Bulls took the momentum back from bears on Tuesday as benchmarks ended the day on a strong note, courtesy a surge in banks and pharmaceuticals among others. An uptick in midcaps, too, helped the market close in the green. The Nifty managed to reclaim 11,400, while the Sensex ended over 200 points higher. This happened even as the rupee touched an all-time low during the day and hovered around 69.85 levels at the time of equity benchmarks closing.

Gains were largely led by banking names as the Bank Nifty ended around a percent higher. Additionally, pharmaceuticals, automobiles, energy and IT names were the top gainers. The Nifty Midcap index was higher by a percent.

At the close of market hours, the Sensex is up 207.10 points or 0.55% at 37852.00, while the Nifty closed up 79.30 points or 0.70% at 11435.10. The market breadth is still negative as 1,287 shares advanced, against a decline of 1,370 shares, while 160 shares were unchanged.

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Source: https://www.moneycontrol.com/news/business/markets/closing-bell-bulls-make-a-comeback-sensex-ends-200-pts-higher-nifty-above-11400-banks-pharma-surge-2840511.html

Rupee breaches 70/$-mark, touches an all-time low of 70.08; falls 10% in 2018

Analysts have attributed the weakness in Turkish lira as one of the key reasons for rupee to be under pressure. This has strained emerging market currencies such as India.

The Indian rupee on Tuesday touched an all-time low, breaching the psychological mark of 70 per US dollar. It touched an all-time low of 70.08 to the US dollar. With this, the currency has depreciated around 10 percent in 2018 so far.

The currency had opened marginally higher at 69.85 against the greenback on Tuesday morning.

Analysts have attributed the weakness in Turkish lira as one of the key reasons for rupee to be under pressure. This has strained emerging market currencies such as India.

Prior to this, the currency ended 110 paise lower at 69.93 on Monday against its Friday's close of 68.83, which was a biggest single session decline against dollar since September 3, 2013.

Technical pattern indicates that the rupee could further depreciate towards 71 per dollar.

“The rupee’s fall today was largely due to domestic reasons. Previous resistance for the currency was 69.50 and a fall below that triggered stop losses from importers. There is lot of panic demand seen from importers…the next short-term resistance is seen at 70.50, while the important resistance to watch out for the market will be 71 per dollar,” Rushabh Maru—Research Analyst at Anand Rathi Share and Stock Brokers, told Moneycontrol.

According to a Motilal Oswal report, rupee fell to fresh record low levels against the US dollar following Turkish Lira shock and witnessed biggest one-day fall in the last five years. Turmoil in Turkey has not only weighed on the Indian rupee but also on most Asian currencies.

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Source: https://www.moneycontrol.com/news/business/markets/rupee-breaches-70-mark-touches-an-all-time-low-of-70-08-2840981.html

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Thursday, August 16, 2018

Nifty gives up 11,400, Sensex opens over 150 points lower; banks drag

Opening Bell (16 August 2018)

Tuesday, August 14, 2018

Closing Bell: Bulls make a comeback! Sensex ends 200 pts higher, Nifty above 11,400; banks, pharma surge

Rupee breaches 70/$-mark, touches an all-time low of 70.08; falls 10% in 2018

INTERNATIONAL MARKET UPDATE (14 AUG 2018)

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Monday, August 13, 2018

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Closing Bell: Sensex ends 192 pts lower, Nifty below 11,600 even as RBI cuts rate

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