Markets continue strong rally on BJP's UP win; ICICI Bank up 5%

Latest News - Benchmark indices kept their strong rally going in the morning trade as investors cheered BJP’s stunning victory in Uttar Pradesh assembly elections, which gives it room for adding more representatives in the Rajya Sabha. BJP won state elections in four out of five states that went to polls indicating that the popularity of Prime Minister Narendra Modi was still intact.

Both indices rallied by about 2% with Sensex surging as much as 615 points during the early trade while the broader Nifty50 hitting the record high of 9,123 at open(Read More)

Sensex down over 150 points; Broader markets fall 1%

Latest News - Benchmark indices extended losses even as Asian markets rallied after the US Federal Reserve Chair Janet Yellen hinted at a likely rate hike in the forthcoming policy review.

At 1:19 pm, the S&P BSE Sensex was trading at 28,162, down 177 points, while the broader Nifty50 was ruling at 8,729, down 63 points.

In the broader market, BSE Midcap and BSE Smallcap lost 1.2% and 1.4%, respectively.

"Nifty is well placed above the 8,770 levels indicates strength and has a potential to test 8,840- 8,870 levels in coming trading sessions," said Nirmal Bang research in a technical note.

On Tuesday, foreign portfolio (Read More)

Markets at day’s low, Nifty fails to hold 8,800; Coal India down 2%

Latest News - Benchmark indices pared gains to turn flat after opening on a higher note today following Asian markets and Wall Street hitting record high on Friday.

Investors awaited CPI and WPI inflation data which will be released later today after the factory output contracted 0.4% in December.

At 12:05 pm, the S&P BSE Sensex was trading at 28,258, down 75 points, while the broader Nifty50 was ruling at 8,768, down 25 points.

In the broader market, BSE Midcap and BSE Smallcap fell 0.3% and 0.4% respectively.

"Though volatility had dominated last week’s trades, lower ranges were held on (Read More)

Sensex ends flat, Nifty above 8,800 ahead of retail inflation data

Latest News - The benchmark indices on Monday scuttled between gains and losses to settle flat as investors awaited January consumer price index-based inflation data due later in the evening.

However, investor sentiment was upbeat as Asian shares ticked up on renewed optimism over US President Trump's tax reform plans and his change of tack to agree to honour the "one China" policy.

The S&P BSE Sensex ended at 28,351, up 17 points, while the broader Nifty50 quoted 8,805, up 11 points at close.

In the broader market, the BSE Mid-Cap and the BSE Smallcap indices underperformed the frontline indices and shed 0.4% and 0.5%, respectively.

The market breadth indicating the overall health of the market remained weak. On BSE, 1,789 shares fell and 1,092 shares rose. A total of 170 shares were (Read More)

Weekly roundup: Sensex, Nifty flat; Nifty Midcap index at all-time high

Latest News - Another instance of consensus falling short on predicting actual outcome! Surprising the market participants, the Reserve Bank of India (RBI) unexpectedly kept the interest rates on hold with the benchmark indices settling the week barely higher even as foreign investors poured in over Rs 700 crore, while global markets found succour in US President Donald Trump’s announcement of unveiling soon some "phenomenal" tax reforms.

During the week ended February 10, the S&P BSE Sensex added 0.3% or 94 points to settle at 28240, while Nifty50 gained 0.6% or 52 points to close at 8793.

Midcap and Smallcap stocks outperformed. Nifty Midcap 100 index hit its all-time high of 16227, up 1.2% for the week, while the BSE Midcap index rose 1.3%. The BSE Smallcap index surged 1.4%, ending above its nine-year high.

“Contrary to the expectation of a 25bps rate cut, RBI held the rate steady. Cautiousness crept-in due to uncertainty over Fed rate hike, US policies and rising crude price which could impact inflation and (Read More)

Sensex fall over 100 points, Nifty below 8,750; Tata Steel falls 2%

Latest News - Benchmark indices opened on higher note with Nifty reclaiming its 8,800 mark but later pared gaind to trade in red as Asian markets stayed cautious following growing political risks in Europe and mixed overnight trade on Wall Street.

Street also watched out for some major companies to declare their Q3 earnings during the day. A total of 268 firms are supposed to report their third quarter results during the day including SAIL, BPCL, Power Grid, Lupin, Cairn India and Aurobindo Pharma.

Also, RBI, yesterday held repo rates at 6.25% for the second time in a row, changing its stance to "neutral" from "accommodative".

At 11:33 am, the S&P BSE Sensex was trading at 28,169, down 120 points, while the broader Nifty50 was ruling at (Read More)

Sensex hovers on a flat line ahead of RBI policy; broader markets outpace

Latest News - The benchmark indices on Wednesday were trading flat ahead of Reserve Bank of India (RBI)'s monetary policy meeting due later in the day. Globally, Asian markets dipping below their four-month highs also sapped investor confidence.
At 10:10 am, the S&P BSE Sensex was trading at 28,329, down 6 points, while the broader Nifty50 was ruling at 8,770, up 2 points.
In the broader market, the BSE Midcap and BSE Smallcap indices outperformed the frontline indices to quote 0.5% and 0.4%, respectively.
"Nifty has to sustain above 8,740 zones to witness buying interest towards 8,820 and then 8,880 zones, while on the (Read More)

Nifty's one week pre-budget rally biggest compared to last 9 budgets

Latest News - Nifty gained the most in the one-week pre-budget rally as compared to the last 9 budgets as investors remained optimistic about pro-market policies by the Finance Minister Arun Jaitley in Union Budget 2017.

With Budget 2017 four days away, Nifty rallied 3.5% for the week, its highest weekly gain since May 27. The index has gained 6% in the year so far.

Even though, not every Budget is preceded by a pre-budget rally, this year bulls have tightened their grip as government is expected to take measures to boost demand after the demonetization freeze.

The previous biggest pre-budget rally occurred in the election year 2009, during the interim-Budget, when the (Read More)

Weekly roundup: Best week in 8-month; Sensex surges a whopping 848 points

Latest News - The market put a stellar show in a holiday-truncated expiry week with benchmark indices rising the most in eighth-month thanks to higher rollovers to February series ahead of Union Budget 2017 as a pre-Budget rally defied the negative results from the companies such as Wipro, Ashok Leyland, HUL and M&M. Positive sentiment in global markets after Dow Jones, Wall Street’s closely-watched index, hit its fresh lifetime high of 20,000-mark, also aided the sentiment. 

During the week ended January 27, the S&P BSE Sensex added 3.1% or 848 points to settle at 26759, while Nifty50 gained 3.5% or 291 points to close the week at 8641. 

Midcap and Smallcap stocks jumped. The BSE Midcap index rose 3%, while the BSE Smallcap index surged 2.8%.

"With signs of FIIs taking interest in Indian equities, and with January derivatives’ expiry witnessing a 5-month high rollover in (Read More)