Market Update: The market is trading mildly in the red amid consolidation as traders eagarly await the OPEC meeting decision due later in the day.
Crude oil prices are up over a percent on uncertainty over whether OPEC would manage to agree a production increase at a meeting in Vienna.
The 30-share BSE Sensex fell 37.64 points to 35,394.75 and the 50-share NSE Nifty slipped 14.20 points to 10,726.90 while the Nifty Midcap dropped 0.4 percent on weak market breadth.
About two shares declined for every share rising on the BSE.
Jun 22, 10:31 AM (IST)
Share Allotment: Essel Propack has allotted 15,71,81,664 bonus equity shares of face value of Rs.2 each as fully paid-up bonus equity shares, in the ratio of 1:1 i.e. one bonus equity share of Rs.2 each for every one fully paid equity share of Rs.2 each held, to the members eligible to receive bonus equity shares of the company whose names appeared in the Register of Members and the Register of Beneficial Owners as furnished by Depositories as on the Record Date i.e. 21.06.2018.
Jun 22, 10:08 AM (IST)
Jun 22, 09:57 AM (IST)
Order Win: Consortium of Capacit'e Infraprojects, Tata Projects Limited and CITIC Construction has received letter of acceptance from Mumbai Housing and Area Development Board (a MHADA Unit) for total contract value of Rs 11,744.26 crore.
"The project will be executed through a Special purpose vehicle in which Capacit'e Infraprojects Limited will have 37.1 percent share worth Rs 4,357.12 crore," the building construction company said in its filing.
Share of Tata Projects Limited in the consortium will be 36.9 percent and CITIC Construction will have 26 percent share.
Jun 22, 09:48 AM (IST)
Rupee Update: The rupee firmed up by 15 paise to 67.83 against the dollar today after increased selling of the US currency by exporters and banks. The dollar slipping from an 11-month peak against other currencies overseas as investors took profits also helped the rupee.
Further, fresh foreign capital inflows took the local currency higher but a lower opening of the domestic equity markets capped the rise, dealers said.
Yesterday, the rupee had appreciated by 10 paise to close at 67.98 against the greenback on sustained selling of the American currency by exporters and local banks.
Jun 22, 09:41 AM (IST)
Market Update: The market is trading flat in morning following mixed trade in Asian peers ahead of uncertainty over raising crude output in OPEC meeting decision due later in the day.
Sectoral trend is also mixed while the broader markets are trading in line with frontliners
The 30-share BSE Sensex fell 10.26 points to 35,422.13 and the 50-share NSE Nifty declined 11.60 points to 10,729.50.
Jun 22, 09:30 AM (IST)
Technical Outlook by Hadrien Mendonca of IIFL:
Going forward, the scenario may turn challenging if the Nifty breaks below its crucial 10,650 level. This is the rising trend line support zone of the enter Symmetrical Triangle pattern within which the Nifty is currently trading in.
For the Nifty to resume its northbound journey, it has to break above 10,930 levels.
The Bank Nifty is on the verge of a breakdown too. Crucial support for the Bank Nifty index is now seen around its 21-day Double Exponential Moving Average which is placed at 26,350. If the Bank Nifty fails to hold above the same then further weakness cannot be ruled out in the near term.
Jun 22, 09:23 AM (IST)
Crude Update: Oil prices rose by more than 1 percent, pushed up by uncertainty over whether OPEC would manage to agree a production increase at a meeting in Vienna later in the day.
Brent crude futures, the international benchmark for oil prices, were at $73.96 per barrel, up 1.25 percent, from their last close.
US West Texas Intermediate (WTI) crude futures were at $66.44 a barrel, up 1.37 percent.
The Organization of the Petroleum Exporting Countries (OPEC), a producer cartel de-facto led by top exporter Saudi Arabia, is meeting together with some non-OPEC members including top producer Russia at its headquarters in the Austrian capital to discuss output policy.
The group started withholding supply in 2017 to prop up prices, reports Reuters.
Jun 22, 09:19 AM (IST)
Market Opening: Benchmark indices started off the tarde on a weak note Friday amid mixed Asian cues ahead of OPEC meeting decision due later in the day.
The Sensex fell 23.01 points to 35,409.38 and the Nifty declined 12.90 points to 10,728.20.
BPCL, IOC, ICICI Bank, HCL Technologies, Bajaj Finance, Dr Reddy's Labs, Tata Steel and ONGC are early gainers.
UPL, Grasim, Sun Pharma, Adani Ports and Reliance Industries are under pressure.
The Nifty Midcap index fell 36 points and Nifty Bank index declined 9 points.
MT Educare, Vakrangee, Manpasand Beverages, Jet Airways, Ashok Leyland and SBI Life gained 1-9 percent.
Kwality, PC Jeweller, Jaiprakash Power, Avanti Feeds, Granules India, PTC India Financial and KEC International are losers in early trade.
Jun 22, 09:14 AM (IST)
Expansion: JSW Steel has proposed an investment of upto $ 500 million in acquiring, enhancing & upgrading Acero Junction Inc, an integrated steel manufacturing unit with a potential capacity of 3 MTPA, located at Ohio USA, in phases.
This takes JSW’s overall investment blueprint for the US market, to produce American melt and manufactured steel, to up to $1 billion. The proposed investment will be made in two phases at its Ohio steel manufacturing facility.
Jun 22, 09:12 AM (IST)
Jun 22, 09:10 AM (IST)
Stocks in News:
Nokia signed five-year global IT infrastructure and application services deal with HCL Technologies.
AstraZeneca received marketing permission for Durvalumab (ImfinziTM) in India.
Strides Shasun's Rectal Artesunate Product received WHO Prequalification.
KPIT and Kinetiq announced strategic life sciences collaboration.
Oberoi Realty alloted 2.4 crore equity shares at Rs 500 each via QIP to investors including Fidelity, Goldman Sachs etc.
Karnataka Bank set export credit target of Rs 2,900 crore to support export sector.
Havells to acquire remaining 31 percent stake in subsidiary Promptec.
Nalco, Hindustan Copper to Form JV to buy Lithium Mines.
Som Distilleries arm received approval for manufacturing of Indian-made foreign liquor.
JSW Steel may bid for ArcelorMittal’s Romanian plant: Reuters.
Market Update: The market is trading mildly in the red amid consolidation as traders eagarly await the OPEC meeting decision due later in the day.
Crude oil prices are up over a percent on uncertainty over whether OPEC would manage to agree a production increase at a meeting in Vienna.
The 30-share BSE Sensex fell 37.64 points to 35,394.75 and the 50-share NSE Nifty slipped 14.20 points to 10,726.90 while the Nifty Midcap dropped 0.4 percent on weak market breadth.
About two shares declined for every share rising on the BSE.
Share Allotment: Essel Propack has allotted 15,71,81,664 bonus equity shares of face value of Rs.2 each as fully paid-up bonus equity shares, in the ratio of 1:1 i.e. one bonus equity share of Rs.2 each for every one fully paid equity share of Rs.2 each held, to the members eligible to receive bonus equity shares of the company whose names appeared in the Register of Members and the Register of Beneficial Owners as furnished by Depositories as on the Record Date i.e. 21.06.2018.
Order Win: Consortium of Capacit'e Infraprojects, Tata Projects Limited and CITIC Construction has received letter of acceptance from Mumbai Housing and Area Development Board (a MHADA Unit) for total contract value of Rs 11,744.26 crore.
"The project will be executed through a Special purpose vehicle in which Capacit'e Infraprojects Limited will have 37.1 percent share worth Rs 4,357.12 crore," the building construction company said in its filing.
Share of Tata Projects Limited in the consortium will be 36.9 percent and CITIC Construction will have 26 percent share.
Rupee Update: The rupee firmed up by 15 paise to 67.83 against the dollar today after increased selling of the US currency by exporters and banks. The dollar slipping from an 11-month peak against other currencies overseas as investors took profits also helped the rupee.
Further, fresh foreign capital inflows took the local currency higher but a lower opening of the domestic equity markets capped the rise, dealers said.
Yesterday, the rupee had appreciated by 10 paise to close at 67.98 against the greenback on sustained selling of the American currency by exporters and local banks.
Market Update: The market is trading flat in morning following mixed trade in Asian peers ahead of uncertainty over raising crude output in OPEC meeting decision due later in the day.
Sectoral trend is also mixed while the broader markets are trading in line with frontliners
The 30-share BSE Sensex fell 10.26 points to 35,422.13 and the 50-share NSE Nifty declined 11.60 points to 10,729.50.
Technical Outlook by Hadrien Mendonca of IIFL:
Going forward, the scenario may turn challenging if the Nifty breaks below its crucial 10,650 level. This is the rising trend line support zone of the enter Symmetrical Triangle pattern within which the Nifty is currently trading in.
For the Nifty to resume its northbound journey, it has to break above 10,930 levels.
The Bank Nifty is on the verge of a breakdown too. Crucial support for the Bank Nifty index is now seen around its 21-day Double Exponential Moving Average which is placed at 26,350. If the Bank Nifty fails to hold above the same then further weakness cannot be ruled out in the near term.
Crude Update: Oil prices rose by more than 1 percent, pushed up by uncertainty over whether OPEC would manage to agree a production increase at a meeting in Vienna later in the day.
Brent crude futures, the international benchmark for oil prices, were at $73.96 per barrel, up 1.25 percent, from their last close.
US West Texas Intermediate (WTI) crude futures were at $66.44 a barrel, up 1.37 percent.
The Organization of the Petroleum Exporting Countries (OPEC), a producer cartel de-facto led by top exporter Saudi Arabia, is meeting together with some non-OPEC members including top producer Russia at its headquarters in the Austrian capital to discuss output policy.
The group started withholding supply in 2017 to prop up prices, reports Reuters.
Market Opening: Benchmark indices started off the tarde on a weak note Friday amid mixed Asian cues ahead of OPEC meeting decision due later in the day.
The Sensex fell 23.01 points to 35,409.38 and the Nifty declined 12.90 points to 10,728.20.
BPCL, IOC, ICICI Bank, HCL Technologies, Bajaj Finance, Dr Reddy's Labs, Tata Steel and ONGC are early gainers.
UPL, Grasim, Sun Pharma, Adani Ports and Reliance Industries are under pressure.
The Nifty Midcap index fell 36 points and Nifty Bank index declined 9 points.
MT Educare, Vakrangee, Manpasand Beverages, Jet Airways, Ashok Leyland and SBI Life gained 1-9 percent.
Kwality, PC Jeweller, Jaiprakash Power, Avanti Feeds, Granules India, PTC India Financial and KEC International are losers in early trade.
Expansion: JSW Steel has proposed an investment of upto $ 500 million in acquiring, enhancing & upgrading Acero Junction Inc, an integrated steel manufacturing unit with a potential capacity of 3 MTPA, located at Ohio USA, in phases.
This takes JSW’s overall investment blueprint for the US market, to produce American melt and manufactured steel, to up to $1 billion. The proposed investment will be made in two phases at its Ohio steel manufacturing facility.
Stocks in News:
Nokia signed five-year global IT infrastructure and application services deal with HCL Technologies.
AstraZeneca received marketing permission for Durvalumab (ImfinziTM) in India.
Strides Shasun's Rectal Artesunate Product received WHO Prequalification.
KPIT and Kinetiq announced strategic life sciences collaboration.
Oberoi Realty alloted 2.4 crore equity shares at Rs 500 each via QIP to investors including Fidelity, Goldman Sachs etc.
Karnataka Bank set export credit target of Rs 2,900 crore to support export sector.
Havells to acquire remaining 31 percent stake in subsidiary Promptec.
Nalco, Hindustan Copper to Form JV to buy Lithium Mines.
Som Distilleries arm received approval for manufacturing of Indian-made foreign liquor.
JSW Steel may bid for ArcelorMittal’s Romanian plant: Reuters.
Markets@Moneycontrol: Nifty likely to open flat; 3 stocks which could give 8-9% return
Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 34.5 points or 0.32 percent. Nifty futures were trading around 10,698-level on the Singaporean Exchange.
Market Pre-Opening: Benchmark indices are trading flat in pre-opening following mixed Asian cues.
The Sensex fell 3.54 points to 35,428.85 and the Nifty gained 3.90 points at 10,745.