Home News Indian Stock Market News Stock Market Live: Sensex off day’s high, Nifty around 15,050; banks rise, energy stocks fall

Stock Market Live: Sensex off day’s high, Nifty around 15,050; banks rise, energy stocks fall

0
Stock Market Live: Sensex off day’s high, Nifty around 15,050; banks rise, energy stocks fall

JMC Tasks shares rally over 13% after co indicators settlement for Rs 1000-cr challenge

 

The share value of JMC Tasks (India) rallied over 13 p.c to hit a 52-week excessive of Rs 88.80 apiece on the BSE after the corporate signed an settlement with Fahi Dhiriulhun Company of Maldives for a challenge value Rs 1,000 crore. In an trade submitting, JMC Tasks mentioned that it had signed an settlement with Fahi Dhiriulhun Company Restricted (FDC), a state-owned firm of the Authorities of the Republic of Maldives, for the design, finance and building of two,000 social housing models in Hulhumale Island of Maldives. “The full worth for this challenge is estimated to be round $137 million (round Rs 1,000 crore) and is deliberate to be financed by way of a mortgage from multilateral funding company,” the corporate mentioned. Extra right here

Morning market quote from Dr. V Okay Vijayakumar, Chief Funding Strategist at Geojit Monetary Companies 

 

“As of now, markets have shrugged off the preliminary scare triggered by the rising bond yields. Bulls are again in motion within the mom market US. However in India steady FII promoting is stopping the markets from scaling new highs. Markets are prone to consolidate. Traders might make the most of dips to purchase high-quality names in personal sector banking, insurance coverage, IT, cement and autos. For mid-  small-caps, there’s extra room to understand”

Momentumisers: Right here’s why Infosys is shifting up persistently and what subsequent

 

Infosys share value has surged from Rs 1,240 apiece to round Rs 1,340 within the final 10 days. The uptrend within the IT inventory has include a little bit of short-covering as a result of the open curiosity is down by near round 5 p.c and it’s near above 20-day shifting common (DMA), 50 DMA in addition to 100 DMA. If Infosys can maintain on to Rs 1,215 to Rs 1,300 ranges then it is going to be attention-grabbing to see if the inventory can commerce increased. Watch the video for extra particulars.

Cement could be sector to carry on to, says UTI AMC’s Swati Kulkarni

 


Swati Kulkarni, govt VP & fairness fund supervisor at UTI AMC believes that cement could be sector to carry on for subsequent 3-5 years. She mentioned, “The thought course of has been to take a look at firms throughout the cement sector which have been superb at capital effectivity degree. At this level of time north and central India are prone to be robust when it comes to demand. So this sector can be trying good from a cyclical perspective significantly if you see that non-public capex may get pushed due to the housing revival. Additionally infrastructure is one thing which is in long run planning of the federal government. So from a long run perspective of about 3-5 years, this sector may very well be sector to carry on.” Extra right here

BPCL sells its whole Treasury shares by way of block deal, raises almost Rs 7,000 cr

Opening Bell: Sensex opens 450 factors increased, Nifty nears 15,100; banks, metals rise 

Indian indices opened increased on Tuesday monitoring positive aspects in Asian shares, which have been increased helped largely by world restoration prospects and the passage of a $1.9 trillion US stimulus invoice. Domestically, all sectors witnessed broad-based shopping for with banks, financials and metals supporting the indices essentially the most. At 9:18 am, the Sensex was up 443 factors at 50,884 whereas the Nifty rose 129 factors to fifteen,085. Broader markets have been additionally in-line with the benchmarks with the midcap and smallcap indices up 0.7 p.c and 0.9 p.c, respectively. On the Nifty50 index, SBI Life, Grasim, UltraTech Cement, HDFC Financial institution and Hindalco have been the highest gainers whereas BPCL, IOC, GAIL, UPL and Infosys led the losses.

Petrol, diesel costs regular for the tenth day in a row

The oil advertising firms (OMCs) stored petrol and diesel charges static for the tenth consecutive day on Tuesday. Accordingly, petrol costs in Delhi remained unchanged at Rs 91.17 a litre, whereas diesel costs maintained its value line of Rs 81.47 a litre within the nationwide capital, in line with Indian Oil Company, the nation’s largest gasoline retailer. In Mumbai, the petrol value remained unchanged at Rs 97.57 per litre on Monday. The price of diesel additionally was the identical at Rs 88.60 a litre. The costs of petrol and diesel are reviewed by oil advertising firms comparable to state-run Indian Oil each day and any revision is applied from 6 am within the morning.

Gold costs rebound from 9-month low: Knowledgeable focus on shopping for methods

There are two-three methods during which individuals purchase gold, mentioned Nirupama Soundararajan, senior fellow & head-research at Pahle India Basis, on Monday. Talking in an interview to CNBC-TV18, she mentioned, “There are two-three methods during which individuals purchase gold. One, the set off has been some type of festivity or event. Second, buy of gold the place individuals save and purchase. Third, advert hoc purchases; advert hoc purchases have all the time been on the low and it’s in all probability by means of channel comparable to digital the place advert hoc purchases occur.” “Gold will not be one thing that you just commerce within the short-term. Gold has all the time been a commodity that you just maintain for a medium-term or long-term. Traditionally, medium-term appears to be a super time to maintain gold which is between three and 5 years as a result of then you’ve a extra lifelike sense of what’s taking place within the financial system,” mentioned Soundararajan. For extra particulars, watch the video

Oil costs rise on anticipated financial restoration, seemingly drawdown in oil shares

 

Oil costs rose on Tuesday on expectations of a restoration within the world financial system after U.S. Senate approval of a $1.9 trillion stimulus invoice and on a possible drawdown in crude oil stock in the US. However a stronger greenback and receding fears of oil provide disruption from Saudi Arabia after an assault on its oil services capped value positive aspects. Brent crude futures for Might rose by 32 cents, or 0.5%, to $68.56 a barrel by 0125 GMT, whereas U.S. West Texas Intermediate (WTI) crude for April rose 19 cents, or 0.3%, to $65.24. On Monday, Brent crude oil value rose above $70 a barrel after Yemen’s Houthi forces fired drones and missiles on the coronary heart of the Saudi oil trade, together with a Saudi Aramco facility at Ras Tanura important to petroleum exports.

Greenback reigns supreme on yields, restoration benefit

 

The U.S. greenback held close to a 3 1/2-month excessive in opposition to its rivals on Tuesday as increased bond yields and expectations of sooner financial normalisation from the pandemic in the US put the U.S. foreign money better off. The greenback’s index in opposition to six main currencies rose 0.1% to 92.469, its highest since late November, constructing on its 0.5% positive aspects on Monday. In opposition to the yen, the greenback rose to 109.19 yen, its highest degree in 9 months, whereas the euro slipped to $1.18355, a low final seen in late November.

First up, right here is fast catchup of what occurred within the markets on Monday

 


Indian indices flat on Monday as positive aspects in metals and vitality shares have been capped by losses in financials and FMCG area. In the meantime, world shares additionally fell because the US Senate’s passage of a $1.9 trillion stimulus invoice put recent stress on Treasuries and tech shares with lofty valuations, elevating inflation jitters. The Sensex ended 36 factors increased at 50,441 whereas the Nifty rose 18 factors to settle at 14,956. Broader markets, nevertheless, ended constructive for the day with the midcap index up 0.3 p.c and smallcap index up 0.5 p.c. On the Nifty50 index, UPL, GAIL, L&T, ONGC and SBI Life have been the highest gainers whereas IndusInd Financial institution, Shree Cement, Bajaj Finance, UltraTech Cement, and Bajaj Auto led the losses. Amongst sectors, positive aspects have been witnessed in vitality, steel and IT sectors with the indices up 0.4-1 p.c every. Nifty Financial institution and Nifty Pharma additionally rose 0.2 p.c every. In the meantime, Nifty FMCG, Nifty Fin Companies and Nifty Auto dragged frontline indices for the day.

Welcome to CNBC-TV18’s Market Reside Weblog

 

Good morning, readers! I’m Pranati Deva from the market’s desk of CNBC-TV18. Welcome to our market weblog, the place we offer rolling dwell information protection of the newest occasions within the inventory market, enterprise and financial system. We can even get you immediate reactions and company from our stellar lineup of TV company and in-house editors, researchers, and reporters. In case you are an investor, right here is wishing you a fantastic buying and selling day. Good luck!

LEAVE A REPLY

Please enter your comment!
Please enter your name here