1. MarketExpress: Sensex looks up after a 4-day bloodbath; FinMin asks PSUs to spend more

MarketExpress: Sensex looks up after a 4-day bloodbath; FinMin asks PSUs to spend more

Sensex and Nifty finally closed in green snapping the four consecutive days of heavy sell-off on Thursday. BSE Sensex added 182 points to hit the day’s high of 31,340.91 points before closing up 123 points at 31,282.48 points.

By: | Updated: September 28, 2017 6:05 PM
BSE Sensex tossed between 31,216.36 – 31,099.62 after opening at 31,216.36 points. (Image: Reuters)

The key equity indices Sensex and Nifty gained slightly to open higher but within a minute of trading both fell into negative territory. BSE Sensex tossed between 31,216.36 – 31,099.62 after opening at 31,216.36 points while NSE Nifty started flat, inched down in a couple of minutes hit the day’s low of 9,705.3 points. Meanwhile, US stocks ended up on Wednesday, as gains in financial shares were powered by increasing expectations for a December rate hike and on hopes President Donald Trump’s administration may be making progress on a tax plan. In an hour of the morning trade both the key indices recovered and swung into green with Sensex adding 100 points and Nifty trading above 9,700. But after trading lower till early after session, Sensex and Nifty finally closed in green snapping the four consecutive days of heavy sell-off on Thursday. BSE Sensex added 182 points to hit the day’s high of 31,340.91 points before closing up 123 points at 31,282.48 points.

5:50 pm: Motilal Oswal not altering portfolio despite stock market correction: The major slump in the Indian stock market has not prompted the leading domestic research and brokerage firm Motilal Oswal to modify its portfolio.

5:43 pm: India consumer spending is catching up with China, though a decade later: The data compiled by Lloyd George Management from various sources show that India spent $109 per capita for housing in 2015, an amount that was spent by China in 2006.

5:30 pm: Patanjali effect: Ruchi Soya surges 12% on distribution deal: Ruchi Soya Industries shares zoomed more than 12% on Thursday after the company entered into a distribution arrangement with Baba Ramdev’s Patanjali Ayurved. The shares closed at Rs 24.75, up by more than 25% since the previous close.

4:40 pm: India’s per capita income to more than double in 10 years: Morgan Stanley: The per capita income levels in India may be languishing as on date, but it set for a rebound, according to the latest estimates of Morgan Stanley. The global firm expects India’s per capita income to rise to $4,135 by 2027.

4:30 pm: Bank of Baroda cuts base rate by 0.15% to 9.15%: Bank of Baroda on Thursday announced a revision in the base rate and Benchmark Prime Lending Rate (BPLR) keeping the inflation and the loan demand into consideration.

3:50 pm: Sensex settles 122 points higher after a 4-day bloodbath on Dalal StreetSensex and Nifty finally closed in green snapping the four consecutive days of heavy sell-off on Thursday.

3:49 pm: Mega oil PSU merger: ONGC digs in its feet; says, won’t pay premium for HPCL stake: Exploration giant ONGC, which is all set to acquire the government’s 51.11% stake in HPCL through a bulk or block deal, on Thursday said that the company is confident of not paying the premium on the purchase of shares.

3:40 pm: What ‘Mutual Funds Sahi Hai’ campaign has done to investors: Dhirendra Kumar of Value Research decodesThe line ‘Mutual Funds Sahi Hai’ is ubiquitous, from huge billboards, to television advertisements, radio and every other possible medium of advertisement. Dhirendra Kumar explains what kind of an impact the campaign has had.

3:35 pm: Participatory notes investment hits over 7-year low of Rs 1.25 lakh crore: Investments in the domestic capital market through participatory notes (P-notes) plunged to seven and a half year low of Rs 1.25 lakh crore at August-end because of stringent norms put in place by regulator Sebi.

3:00 pm: Rupee recovers early losses but still at 6-month low: 8 factors weighing on Indian currency: The Indian rupee dived to a fresh six-and-half-month low in morning trade on Thursday, as several factors continued to drag the domestic currency. We take a look at eight reasons why rupee depreciated to a fresh six and half month low.

2:10 pm: Markets will need sophisticated cybersecurity, says SEBI chief Ajay Tyagi: Sebi chief Ajay Tyagi today emphasised the need to put in place sophisticated cyber security for capital markets even as he wondered about ways to supervise data maintained at bytes among hundreds of computers worldwide.

1.45 pm: After Manmohan Singh, Yashwant Sinha recalls Keynes to attack Modi govt: ‘In the long run we are all dead’Yashwant Sinha on Thursday recalled economist JM Keynes to attack Modi government’s economic initiatives.

1.30 pm: Reliance Industries outbids GAIL to buy all its own CBM gas : Reliance Industries has outbid rivals, including state-owned GAIL India, to buy the entire volume of natural gas from its own coal seam blocks until March 2021.

1.15 pm: A 7-point guide to make GST good and simpleIt’s been three months since the GST regime came into effect in India, but he new complex tax system is getting increasingly difficult to implement. Unless immediate steps are taken to make GST user-friendly, GST will end up being a disaster.

12.45 pm: Day after Yashwant Sinha criticism, son Jayant says fundamental changes for new economy, new India put in place: Yashwant Sinha article: The former Finance Minister’s opinion article in the Indian Express, which had criticised the Narendra Modi government over ‘downward spiral of the economy’, has created a political uproar.

12.30 pm: Nifty at 30,000, Sensex at 1,30,000: Four things which Morgan Stanley says will make it possible: We take a look at four key factors behind Morgan Stanley’s prediction for Sensex topping 1,00,000 points even in the base case scenario.

12.25 pm: From kitchen to Playboy Mansion: How Hugh Hefner built his empire over 60 years: The first issue of Playboy magazine was undated, as Hefner was not sure about the second issue. The first magazine which featured Marilyn Monroe, sold more than 53,000 copies!

10.30 am: Why Morgan Stanley is bullish on India despite GDP disruption? Morgan Stanley says India is expected to become USD 6 trillion economy — third largest in the world — in the next 10 years.

10.20 am: Jefferies bullish on Infra; road-focussed sector may drive your returns upward: Jefferies LLC, an American global investment bank is bullish on the infrastructure space in India. According to the firm, the coming quarters will see a lot of infrastructure projects execution.

09.50 am: Sensex slips 80 points, Nifty trips below 9,700 as sell-off continues: The key equity indices Sensex and Nifty gained slightly to open higher but within a minute of trading both fell into negative territory marking the eighth day of sell-off.

9.45 am: Dollar, bond yields rise after US President Donald Trump’s tax plan; Asia stocks down: The dollar and US bond yields rose on Thursday after President Donald Trump proposed the biggest US tax overhaul in three decades

9.20 am: General Re, unit of Warren Buffett’s Berkshire Hathaway, targets world-beating India market: General Re, a unit of Warren Buffett’s Berkshire Hathaway Inc. which won a license to open an Indian office in May, is seeking a larger slice of the world’s fastest-growing reinsurance market.

9.10 am: Stocks PNB, IndusInd Bank, ONGC, IDFC will be in focus today: Sensex and Nifty are likely to open lower as the early indicator of NSE Nifty 50 — SGX Nifty Futures — was trading down 0.16% at 9,721 points on the Singapore Stock Exchange.

  1. No Comments.

Go to Top