- BSE SENSEX36,713.72+0.11%
- Nifty 5010,814.40+0.14%
- USD/INR74.8730+0.09%
- Dow25,890.18-1.51%
- Nasdaq10,343.89-0.86%
- BTC-INR696,200.12+0.39%
- CMC Crypto 200193.93+1.13%
- Hang Seng26,063.51+0.34%
- Nikkei22,521.53-0.41%
- EUR/INR84.4349+0.09%
- GBP/INR93.9783+0.19%
- AED/INR20.3360+0.07%
- INR/JPY1.4341-0.04%
- SGD/INR53.6650+0.07%
- Capital Market
HCL Infosystems Ltd Slides 4.92%
HCL Infosystems Ltd fell 4.92percent today to trade at Rs 9.66. The S&P; BSE IT Sector index is down 0.64percent to quote at 15888.9. The index is up 7.22 percent over last one month. Among the other constituents of the index, Aptech Ltd decreased 2.58percent and Subex Ltd lost 1.75percent on the day. The S&P; BSE IT Sector index went up 5.32 percent over last one year compared to the 4.98percent fall in benchmark SENSEX. HCL Infosystems Ltd has added 22.28percent over last one month compared to 7.22percent gain in S&P; BSE IT Sector index and 7.08percent rise in the SENSEX. On the BSE, 30026 shares were traded in the counter so far compared with average daily volumes of 2.34 lakh shares in the past one month. The stock hit a record high of Rs 12.56 on 31 Jul 2019. The stock hit a 52-week low of Rs 3.2 on 26 Mar 2020.
GoodReturnsIndusInd Bank Extends Gains For Second Day On Additional Stake Purchase By Route One Hedge Fund
Shares in Hinduja Group backed lender IndusInd Bank extended gains for the second day to Rs. 549.75 per share on the NSE, rising over 10% in two sessions. On Tuesday, the stock of private sector lender closed with gains of over
GoodReturnsMarkets Trade Higher, Nifty Crosses 10,800 Points
Benchmark indices gained for the sixth straight session in a row, as banking and financial stocks continued to move higher. Asian markets were mostly trading with gains, led by Mainland China's Shanghai Composite and the Hong Kong's Hang Sang. The Nifty
- Capital Market
Steel Authority of India Ltd Surges 4.16%, S&P BSE Metal index Gains 1.19%
Steel Authority of India Ltd gained 4.16percent today to trade at Rs 33.8. The S&P; BSE Metal index is up 1.19percent to quote at 7396.98. The index is up 0.03 percent over last one month. Among the other constituents of the index, JSW Steel Ltd increased 2.07percent and Jindal Steel & Power Ltd added 1.83percent on the day. The S&P; BSE Metal index went down 28.78 percent over last one year compared to the 5.1percent fall in benchmark SENSEX. Steel Authority of India Ltd has added 3.21percent over last one month compared to 0.03percent gain in S&P; BSE Metal index and 6.94percent rise in the SENSEX. On the BSE, 3.11 lakh shares were traded in the counter so far compared with average daily volumes of 32.14 lakh shares in the past one month. The stock hit a record high of Rs 51.85 on 17 Jan 2020. The stock hit a 52-week low of Rs 20.15 on 30 Mar 2020.
- Capital Market
Reliance Industries gains after Facebook completes 10% stake purchase in Jio Platforms
Reliance Industries (RIL) rose 0.57percent to Rs 1,834.35 after Jaadhu Holdings LLC, a wholly-owned subsidiary of Facebook, has been allotted 9.99percent stake in Jio Platforms, a subsidiary of the company.
ReutersAirAsia in trading halt after auditor notes 'going concern' doubts
Shares in Malaysia's AirAsia Group Bhd were halted on Wednesday after its auditor said there were material uncertainties that cast doubt on the budget carrier's ability to continue as a going concern. In an unqualified audit opinion on the airline's earnings results for 2019 issued late on Tuesday, Ernst & Young PLT said the financial statements were prepared on a going concern basis - which is dependent upon a recovery from the COVID-19 pandemic and the success of fund raising efforts. AirAsia on Monday posted a 803.3 million ringgit ($188 million) loss for the three months ending March 31, its biggest first-quarter loss since its listing in November 2004.
- Capital Market
Yes Bank's board approves fundraising via FPO
Yes Bank said that the bank's capital raising committee (CRC) at the meeting held yesterday approved raising funds by way of a further public offering (FPO).
GoodReturnsJio Platforms Receives Payment For 9.9% Stake From Facebook-Owned Firm
Late on Tuesday, Reliance Industries Limited (RIL) in a stock exchange filing said that its digital arm Jio Platforms has received the subscription amount of Rs 43,574 crore from Jaadhu Holdings, a wholly-owned subsidiary of Facebook Inc. "Jio Platforms Limited has
GoodReturnsGold Prices Edge Lower After Sharp Surge Yesterday
Gold prices in early trade on Wednesday (July 8, 2020) inched lower after a sharp surge in yesterday's trade. On the MCX, gold August futures were trading down by 0.14% or Rs. 68 at Rs. 48732 per 10 gm. Today,
- Capital Market
Maruti Suzuki reports 55% slump in June production
Maruti Suzuki India said its total production dropped 54.66percent to 50,742 units in June 2020 from 1,11,917 units produced in June 2019.
News18Samsung Galaxy Unpacked Confirmed For August 5: Galaxy Note 20, Fold 2 On The Menu? Watch Video
One of the expected launches is the Galaxy Note 20. It is believed that this year’s Galaxy Note will include a 120Hz display, offer 8GB and 12GB RAM variants and as much as 512GB storage options.
News18Qatar Airways Relaunches 11 International Routes Including Berlin, Toronto, Boston and More
Qatar Airlines has relaunched 11 more destinations, its largest single day of restarts, in addition to the 430 weekly flights to more than 65 destinations.
Dalal StreetM&M Financial Services surge over 11 per cent; gives neckline breakout
The stock of Mahindra & Mahindra Financial Services, after registering a high of Rs 403.30 on February 11, 2020, had entered into a downtrend and recorded series of lower high and low.As on April 07, 2020, the stock had formed a swing low of Rs 128.30, where it had formed a reversal bullish pin bar candlestick pattern and thereafter, the stock prices rebounded to touch the level of Rs 191.80.However, the stock failed to hold on to the higher levels and attempted to return to the previous trend but the bears were not able to push prices much lower and thus, the stock registered an almost identical bottom as on May 22, 2020. This resulted in the formation of Adam & Adam double bottom pattern.On Tuesday, the stock has given a neckline breakout of double bottom formation, backed by strong volumes. Additionally, the stock formed a sizeable bullish candle on the breakout day, which adds strength to the breakout. The short-term trend of the stock is bullish as it is trading above its weekly pivot and above the short-term moving averages, i.e. 20-day EMA and 50-day EMA. The daily RSI closed above the prior swing high in a bullish zone. It is also making higher highs and higher lows. The indicator is exactly moving along with the price. Going ahead, the stock has strong support in the zone of Rs 182-Rs 180, while on the higher side; a major resistance is placed in the zone of Rs 230-Rs 233 level.On Tuesday, the stock of Mahindra & Mahindra Financial Services closed at Rs 204.15 per share, surged by 11.65 per cent. The stock opened at Rs 183.20 per share and hit an intraday high of Rs 208.20 and a low of Rs 182.55 per share on NSE.
Capital MarketTitan Company provides Q1 business update
Titan Company said that after suffering complete loss of sales in April due to lockdown, the company has started reopening the stores, from 6th May onwards in the non-containment areas.
Dalal StreetIndex trend and stocks in action on July 08, 2020
Nifty extended its gain for the fifth straight day in a row on Tuesday but it stayed in a defined range. At the end of the day, Nifty closed the session with a net gain of 0.33 per cent at 10,799.65.As Nifty's opening, closing and high of the day are very similar, it formed a dragonfly Doji pattern on the daily chart. During the first half of the trading session, the index was under pressure and thus, it took support around the low of the previous trading session as well as near to the 20-hourly moving average. Going ahead, the level of 10,680 is a crucial level for Nifty on the downside as a move below this level could lead to a further decline, towards the levels of 10,630.On the upside, immediate resistance is placed at 10,813 levels and any follow-through move above this level could result in a further movement towards 10,880 levels.Traders need to closely monitor the level of 10,680, as in any case, if this level is breached, it would be the first sign for bearishness. Till then, wait for the right moment of shorting the market. For now, be with a positive bias as long as it trades above the 10,700 level. Reliance Industries: After receipt of all requisite approvals, Jio Platforms Limited, a subsidiary of the company, on Tuesday, received a subscription amount of Rs 43,574 crore from Jaadhu Holdings, LLC (a wholly-owned subsidiary of Facebook Inc).GMR Infrastructure: GMR Infrastructure Ltd announces the completion of a strategic partnership transactions with Groupe ADP for airport business.NBCC: The board of directors approved a draft scheme for the merger of NBCC International Limited and NBCC Environment Engineering Limited, wholly-owned subsidiaries of NBCC (India) Limited (holding company).Titan: The company has reopened around 83 per cent of its stores across all businesses as of June-end. It has further extended financial support to its franchisees and vendors, particularly by providing soft loans at extremely low-interest rates. In jewellery segment, the revenue in May and June months was slightly below 20 per cent and around 70 per cent as compared to the corresponding months of the previous year.Birlasoft: The company announced its partnership with Innoveo, a leading global technology company, strengthening Birlasoft's domain and digital capabilities to rapidly deliver world-class solutions with Innoveo's enterprise-level no-code platform.
Dalal StreetA delightful start for D-Street
Indian key benchmark indices recorded one of the longest winning streaks in a month, ending higher for the fifth consecutive day. Having said that, sessions were volatile, but Banking, Financials and IT stocks helped it to stay buoyant. The early trend on the SGX Nifty suggests that the bulls are likely to continue their soar on Wednesday and aim for the 200-DMA that is placed around 10,887 levels.At 7:50 AM, the SGX Nifty was trading up by 25.50 points at 10,785.50 levels.Most of the Asian indices were trading in green. China's Shanghai Composite leading followed by Hong Kong's Hang Seng. Whereas, Japan's Nikkei 225 has plunged into negative terrain with minuscule losses.Asian MarketsAsia OpeningPriceChange% Change Nikkei 22522,591.71-22.98-0.10 Hang Seng25,991.5415.880.06 Shanghai3,357.6112.270.37 SGX Nifty10,785.5025.500.24 Key domestic benchmark indices continued its march northward for the fifth session in a row on Tuesday. Sensex climbed 0.51 per cent and closed at 36,674.52 level and Nifty ascended 0.33 per cent to settle at 10,799.65. In broader market, Nifty Mid-cap and Nifty Small-cap ended the day with a gain of 0.44 per cent and 1 per cent, respectively. On sectoral front, sectoral indices displayed a mixed trend with Nifty Private Bank, Nifty IT and Nifty Bank recorded as top gainers. While, Nifty Metal and Nifty Realty ended as top losers.On back of renewed concerns over coronavirus, Tuesday's session turned out to be abysmal for the US stocks. Dow tumbled the most as Boeing, one of the major constituents of Dow, plunged close to 5 per cent on Tuesday. Dow ended the session below 26,000 mark. The tech-heavy Nasdaq recoiled after registering all-time high in earlier sessions, whereas S&P 500 lost just over 1 per cent. On Tuesday, European stocks ended lower amid weak economic data and continuous rise in new COVID-19 cases.US MarketsUS ClosedPriceChange% Change Dow25,890.18-396.85-1.51 S&P 5003,145.32-34.40-1.08 Nasdaq10,343.89-89.76-0.86 GlobalDow2,879.22-2.96-0.10 Europe MarketsEurope ClosedPriceChange% Change FTSE 1006,189.90-96.04-1.53 DAX12,616.80-116.65-0.92 CAC 405,043.73-37.78-0.74 FTSE MIB20,012.68-19.18-0.10 IBEX 357,447.40-108.80-1.44 Stoxx 600368.96-2.25-0.61 CommodityCommodityPriceChange% Change Gold1,805.30-4.60-0.25 Oil40.53-0.09-0.22
ReutersGold steadies near highest since November 2011 as virus cases mount
Spot gold was little changed at $1,792.79 per ounce by 0241 GMT, after hitting its highest since November 2011 at $1,796.93 on Tuesday, just a few dollars away from the key $1,800 level. U.S. gold futures eased 0.2% to $1,805.70. "The main focus continues to be on the U.S. If the curve continues to steepen and the virus unabated, we are going to break $1,800 just for the fact that the Fed will have to be forced to add more stimulus," said Stephen Innes, chief market strategist at financial services firm AxiCorp.
- Reuters
Insurer Allstate to buy National General for about $4 billion
National General's shareholders will receive $32 per share in cash and closing dividends of $2.50 per share for each share held. This would imply a total deal value of $3.92 billion and a premium of about 69% to National General's Tuesday close, Reuters calculations showed. Allstate, one of the largest U.S. auto insurers, said the deal is expected to close in early 2021 and will add to its adjusted earnings per share and return-on-equity beginning the first year.
ReutersOil dips as U.S. inventory build stokes supply fears
Oil prices eased in early trade on Wednesday as industry data showing a build in U.S. crude stockpiles and a forecast for U.S. crude output to fall less than anticipated in 2020 added to worries about oversupply. Brent crude futures fell 13 cents, or 0.3%, to $42.95 a barrel by 0019 GMT. U.S. West Texas Intermediate (WTI) crude futures dropped 10 cents, or 0.3%, to $40.52 a barrel.
ReutersGlobal Markets: Asian shares mixed as corporate earnings loom
Asian stocks were set for a mixed open on Wednesday, as an increase in new coronavirus cases in some parts of the world cast doubts over the economic recovery, leading some investors to cash in on recent gains ahead of earnings season. Australian S&P/ASX 200 futures lost 0.50% in early trading, while Japan's Nikkei 225 futures added 0.11%, and Hong Kong's Hang Seng index futures rose 0.39%. The United States reported tens of thousands of new coronavirus infections, prompting New York to expand its travel quarantine for visitors from three more states, while Florida's greater Miami area rolled back its reopening.
GoodReturnsAirtel To Give Preference To Postpaid Customers Paying Over Rs 499 Per Month
Bharti Airtel, the telecom major, to its platinum customers who pay Rs. 499 and more on a monthly basis for 4G post paid connection will be given preferential treatment, the company said. These customers as a loyalty reward will
- Reuters
CoreLogic rejects $7 billion takeover bid from investment firms
A consortium of Cannae Holdings Inc and Senator Investment Group last month proposed to buy the company for $65 per share. CoreLogic shares ended trading on Tuesday at $68.67. "Given CoreLogic’s strong momentum, increasing margins, accelerating growth, and multi-faceted value-creation model, we are unanimous in our belief that CoreLogic will be able to deliver significantly more value to shareholders than this opportunistic proposal," CoreLogic chairman Paul Folino said.
ReutersLevi Strauss warns of weak second half on pandemic woes, to cut 700 jobs
Met with temporary closure of its own stores as well as partner outlets, Levi introduced curbside pickup and started fulfilling online orders at its stores as customers turned to online shopping to avoid contact with people. Levi added that weekly sales performance in company-operated stores was improving sequentially, as productivity in the final week of June reached 80% compared to a year earlier.
- Reuters
Mexico's Pemex plans $22.4 billion debt swap
Mexico's Petroleos Mexicanos said on Tuesday it will offer a swap for $22.4 billion worth of bonds maturing between 2027 and 2060 as the state oil firm seeks to manage its massive debt load. The company, known as Pemex, which had financial debts of nearly $105 billion at the end of March, announced the swap in a filing with the U.S. Securities and Exchange Commission (SEC). Pemex did not immediately respond to a request for comment.
