Monday, 3 October 2016

Nifty eyes 8700, Sensex gains over 200 pts; Maruti up 4%

The market has opened on strong note Monday. The Sensex is up 155.79 points or 0.6 percent at 28021.75 and the Nifty is up 55 points or 0.6 percent at 8666.15. 

9:55 am Gas price: The government has cut gas prices by roughly 18 percent to USD 2.5 per mmbtu for the six-month period October 2016-March 2017.

The fall in local gas prices, which are decided by the government on the basis of a formula that draws from prevailing prices at several international hubs, has hit producer companies such as ONGC and Oil India who say they are incurring losses.

This could result in pressure on shares of the companies as the firms could offset some of the losses from increases in volumes. TODAY FREE TRAILS

On the retail front, however, companies have largely held on to prices of compressed natural gas and piped natural gas, used as an automotive fuel and for domestic use, respectively.

9:45 am Market check: Pak PM Advisor has confirmed that both India and Pakistan have decided to reduce tensions which may have cheered the market. The Sensex is up 231.69 points or 0.8 percent at 28097.65, and the Nifty up 80.25 points or 0.9 percent at 8691.40. About 1522 shares have advanced, 272 shares declined, and 49 shares are unchanged.

9:30 am FII view: Laurence Balanco of CLSA says as long as price action remains above the upper boundary of the minor range which had formed in July-August between 8,547-8,565 and resistance at 8,747-8,760 the benefit of doubt should be given to the uptrend which has been unfolding off the February lows in anticipation of an ultimate break above the March 2015 highs.

Don't miss: Buy, sell or hold: Focus on 8 largecap stocks for your portfolio 

The market has opened on strong note Monday. The Sensex is up 155.79 points or 0.6 percent at 28021.75 and the Nifty is up 55 points or 0.6 percent at 8666.15.

Maruti, Adani Ports, Eicher Motors, Tata Motors are gainers while ONGC, Wipro, Infosys, GAUL and PowerGrid are losers in the NSE.

Maruti, Adani Ports, Eicher Motors, Tata Motors are gainers while ONGC, Wipro, Infosys, GAUL and PowerGrid are losers in the NSE.

Most automakers post a solid show in September ahead of the crucial festival season. Maruti posts its highest ever domestic monthly sales, driven by demand for Baleno & and Brezza. M&M and Eicher Motors sales are in line with estimates.

The Indian rupee rose in the early trade on Monday. It has opened higher by 7 paise at 66.54 per dollar versus 66.61 Friday.

Pramit Brahmbhatt of Veracity said, "Weakness in equity market will persist which will put pressure on rupee. The trading range for the day is seen between 66.50-67.20/dollar." The dollar started off the week on a firmer footing as fears about deutsche bank receded and investors looked ahead to this week's US jobs data.

Asian shares began the new quarter cautiously firmer, while sterling took a spill as Britain set a March deadline to start divorce proceedings from the European Union.

Risk sentiment had benefited on Friday from reports Deutsche Bank was negotiating a much smaller fine with the US Department of Justice, though the Wall Street Journal reported on Sunday that the talks were in flux.

Just a hint of a deal was enough to nudge MSCI's broadest index of Asia-Pacific shares outside Japan up 0.2 percent. The index climbed 8.8 percent in the third quarter, its best performance since early 2012.
www.bigprofitbuzz.com


3 comments:

BIGPROFITBUZZ said...

#Performance of the Day (3rd Oct 2016)

#Equity Profit Buzz Performance (3rd Oct 2016)
1. M&MFIN (Profit Rs 13/share)
2. HCLTECH (Profit Rs 12/share)

#Derivative Profit Buzz Performance (3rd Oct 2016)
1. CENTURYTEX (Profit Rs 11000/Lot)
2. AXISBANK (Profit Rs 4800/Lot)

#Nifty Profit Buzz Performance (3rd Oct 2016)
3. BANKNIFTY (Profit Rs 4800/Lot)
4. NIFTY (Profit Rs 6000/Lot)

#Option Profit Buzz Performance (3rd Oct 2016)
1. BHARATFORGE 920CE (Profit Rs 7200/lot)

#Jackpot Profit Buzz Performance (3rd Oct 2016)
1. BPCL (Profit Rs 6/share & Rs 7800/Lot)

#Multi Profit Buzz Performance (3rd Oct 2016)
1. M&MFIN (Profit Rs 13/share & Rs 35000/Lot)
2. HCLTECH (Profit Rs 12/share & Rs 8400/Lot)
3. BANKNIFTY (Profit Rs 4800/Lot)
4. NIFTY (Profit Rs 6000/Lot)
5. BHARATFORGE 920CE (Profit Rs.7200/lot)
www.BigProfitbuzz.com/

Neha Agrawal said...

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pranjali upadhyay said...

Kotak Mahindra acquires BSS Microfinance for Rs139.2 Crore
Also, reports suggest that the Canadian pension fund raises stake in Kotak Mahindra Bank from 4.89% to 5.77%.
Capitalstars