Thursday, 27 August 2015

Sensex up 250pts, Nifty below 7900; Vedanta, HDFC gain 4-6%

Vedanta, HDFC, SBI, Lupin and Bharti are top gainers while BHEL, TCS, Tata Motors, Bajaj Auto and Hero Motocorp are among laggards in the Sensex.

9:50 am Buzzing: Shares of Bharti Airtel climbed 3 percent following acquisition of New Delhi-based wirless broadband internet service provider.

The top telecom operator with operations in 20 countries across Asia and Africa on Wednesday said it has signed a definitive agreement to acquire 100 percent equity stake in Augere Wireless Broadband India that incorporated in 2007.

Augere holds 20 MHz of BWA spectrum in Madhya Pradesh and Chhattisgarh circles (MPCG). Upon acquisition, it will become a wholly-owned unit of Airtel, said the company.

9:40 am Market check: After initial gush of gains, the market has cooled off a bit. The Sensex is up 252.23 points or 0.9 percent at 25966.89 and the Nifty is up 78.45 points or 1 percent at 7870.30. About 1326 shares have advanced, 283 shares declined, and 40 shares are unchanged.

Vedanta, HDFC, SBI, Lupin and Bharti are top gainers while BHEL, TCS, Tata Motors, Bajaj Auto and Hero Motocorp are among laggards in the Sensex.

9:30 am Market outlook: One person who believes that the recent moves in China are just a trigger and not the cause for the sell-off across global markets is the managing director of UTI Mutual Fund Leo Puri. He says the 'correction' was in fact long overdue and while the India growth story may still be intact, volatility in the short-term cannot be ruled out.

Puri says: "I don't think we will see deep trauma setting in for now. But I do think that we are going to see a period of stress. Volatility and stress, essentially and my advice to the extent that I would offer at this point to retail investors in India is that if you are fundamentally invested, don't panic, because we are a relative standout in the global economy. And I would actually say that stay purchased, it is actually not a bad thing at this point."

Don't miss: Govt not serious on building consensus on Land Bill, says Moily

The market has opened higher riding high on strong global cues. The Sensex is up 392.57 points or 1.5 percent at 26107.23 and the Nifty is up 127.90 points or 1.6 percent at 7919.75. About 461 shares have advanced, 64 shares declined, and 14 shares are unchanged.

ONGC, M&M, Bharti Airtel, Hindalco and Bajaj Auto are top gainers in the Sensex.

The Indian rupee gained past 66 a dollar in early trade following rally in global equity markets. The currency appreciated by 20 paise to open at 65.94 per dollar against previous day's closing value of 66.14 a dollar.

Wall Street racked up its biggest one-day gain in four years on Wednesday as fears about China's economy gave way to bargain hunters emboldened by expectations the US Federal Reserve might not raise interest rates next month.

China's Shanghai Composite index fluctuated around the critical 3,000 mark early Thursday, tracking the positive sentiment across Asia underpinned by Wall Street's biggest one-day gain since 2011 overnight.
www.Bigprofitbuzz.com





4 comments:

Alisha Singh said...

Really nice update about Sensex up 250pts, Nifty below 7900; Vedanta, HDFC gain 4-6% thanks for publishing these news..
Equity Tips Free Trial

Allianceresearch Jabalpur said...

Buy Aluminum Aug above 102.50 TGT 103 & 103.60 SL 101.90.

commodity tips

Rajat Jain said...

AGRI NCDEX/MCX positional calls are here in CapitalStars.
Capitalstars

Riya Gupta said...

Best Stock Advisory Company --
Stock Tips
mcx tips