Thursday, 23 April 2015

Sensex dives over 200 pts, Nifty falls; metals outperform

1:30 pm Telecom: India's telecom regulator has ruled on the definition of adjusted gross revenue (AGR) for telecom companies. The TDSAT has said that AGR will include all receipts except capital receipts and revenue from non-core sources such as rent, profit on sale of fixed assets, dividend , interest and miscellaneous income, etc will be included in AGR. The regulator has also included forex adjustment under AGR apart from ruling that licenses fee will not be charged twice on the same income.

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Profit booking drags the Nifty below 8400. The 50-share index is down 55.65 points or 0.7 percent at 8374.05. The Sensex is down 234.78 points or 0.8 percent at 27655.35. About 1279 shares have advanced, 1302 shares declined, and 147 shares are unchanged.

Only metal stocks led by Tata Steel are seeing huge buying interest. Coal India, Maruti and BHEL are top gainers in the Sensex. Among the losers are Sun Pharma, NTPC, SBI and M&M.

Meanwhile, manufacturing activity in Asia's top two economic powerhouses slowed further in April, a disappointing outcome that calls for yet more stimulus and puts pressure on the United States and Europe to do more of the heavy lifting to drive global growth.

The flash HSBC/Markit Purchasing Managers' Index (PMI) for China fell to a one-year low of 49.2, from 49.6, pushing deeper below the 50-point level that is supposed to separate growth from contraction. For More information please visit this site www.bigprofitbuzz.com

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