Monday, 28 September 2015

Sensex, Nifty open flat; Adani Ports gains, Sun Pharma down

TCS, Lupin, SBI, Cipla, HDFC Bank, Tech Mahindra, Idea Cellular and Adani Ports gained 1-2 percent. However, Tata Motors, Sun Pharma, Wipro, UltraTech Cement and Cairn India fell 1-2 percent.

9:50 am Buzzing: Shares of Indian Hume Pipe Company surged 17.35 percent after the company has bagged an orders worth Rs 1230.77 crore.

The orders are for Telangana Water Grid project in respect of Telangana Drinking Water Supply Projects (TDWSP) of Mahabubnagar and Nizamabad districts from rural water supply and sanitation department, Government of Telangana.

The first order is of Rs 415.47 crore for providing drinking water to habitations in Gadwal and Alampur constituencies from Jurala Project, Mahabubnagar District, under Segment-ll including operation and maintenance for 10 years. The project is to be completed within 18 months from the date of commencement.

The second order is of Rs 815.30 crore for providing drinking water to Balkonda, Armoor, Nizamabad, Kamareddy and part of Yellareddy constituencies from SRSP reservoir, Nizamabad district including operation and maintenance for 10 years. The project is to be completed within 24 months from the date of commencement.

9:35 am SPARC in news: Sun Pharma Advanced Research Rate cut, govt investments key to growth: Morgan Stanley

9:15 am Market Check

The market has started October series on a flat note Monday after losing 1.4 percent last week. The Sensex rose 41.93 points to 25905.43 and the Nifty gained 10.45 points at 7878.95. About 627 shares have advanced, 204 shares declined, and 48 shares are unchanged on the BSE.

TCS, Lupin, SBI, Cipla, HDFC Bank, Tech Mahindra, Idea Cellular and Adani Ports gained 1-2 percent. However, Tata Motors, Sun Pharma, Wipro, UltraTech Cement and Cairn India fell 1-2 percent.

The Indian rupee has opened marginally higher by 5 paise at 66.11 per dollar today against 66.16 Thursday.

Agam Gupta of Standard Chartered said, "There should be interest from importers and local government banks to buy USD on dips to 65.90 levels. Any upticks to 66.30 will attract interest from exporters to hedge their future dollar receivables."

He further added, "The market participants will keenly await the Reserve Bank of India (RBI) policy announcement tomorrow and we expect trade to be rangebound ahead of the RBI meet."

Global cues are mixed as the US markets closed mixed on Friday, pressured by a plunge in biotechs, and as investors digested Nike earnings and Fed chair Janet Yellen's remarks on a possible rate hike later this year.

The S&P 500 closed marginally lower as a 2.7 percent decline in health-care more than offset a 1.45 percent gain in financials. The Nasdaq Composite too closed down 1 percent.

Asian trade, meanwhile, started the week on a subdued note ahead of data from China. Hong Kong, Taiwan and South Korean markets are shut for the mid-autumn festival.

The US dollar hit its highest in over five weeks against a basket of major currencies on expectations of a Fed rate hike this year.
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2 comments:

Free Stock Tips said...

Total income of the Sun Pharma increased however to Rs 6,767.58 crore during the first quarter of 2015-16 as against Rs 6,341.21 crore for the year ago period.

Rajat Jain said...

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