Sensex down 73 points in early trade on Asian cues

MUMBAI: The benchmark BSE sensex was trading lower by about 73 points in early volatile trade on sustained capital outflows by foreign funds and selling by retail investors on muted corporate earnings amid weak Asian cues.

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The 30-share index declined 72.97 points or 0.30% to 24,382.07 after rising to 24,524.85.

The gauge has lost 399.07 points in the past two sessions on global worries amid muted earnings by Hindustan Unilever and plunging global oil prices.

The NSE Nifty was also trading lower by 30.60 points or 0.41% to 7,407.20.

Stocks of capital goods, oil and gas, infrastructure, auto, realty and healthcare were leading the fall.

Brokers said sentiments remained weak on lower-than-expected earnings by some bluechip companies so far amid sustained capital outflows by foreign funds.Besides, extended last week's losses at other Asian markets on worries about tumbling oil prices and the slowing Chinese economy continued to weigh on the sentiments, they added.

Stocks of country's third largest software services firm Wipro fell 1.33% to Rs 536.20 despite posting a 1.8% rise in consolidated net profit to Rs 2,234.1 crore for the December quarter.
In other Asian markets, Hong Kong's Hang Seng index was down 1.84%, while Japan's Nikkei shed 1.94% in early trade today. Shanghai Composite Index was down 0.67%.

The US Dow Jones had tumbled 2.39% in Friday's trade.

Source - TOI 

Sensex down over 300 pts as China halts trading

MUMBAI: For the fourth day on the trot, turbulences in the Chinese market sent global investors, including those on Dalal Street, scurry for cover.

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 On Thursday morning as the CSI 300 index in Shanghai tanked 7% and the authorities there halted trading for the day, in early trade the Sensex lost over 400 points and was close to breaking below the psychologically important 25,000 mark. This was the second 7% fall in the benchmark index for the Chinese stock market this week, which was on the back of signs of further economic weakness in the world's second largest economy.

In India, the Sensex has lost over 1,000 points since its New Year day closing at 26,161.

On Thursday, the slide in the domestic market was led by ONGC, Tata Motors, Maruti and Tata Steel, each falling over 2.5%. Of the 30 Sensex stocks, only five were trading above the red line. Dealers, however, assured that the onus of the current market weakness can't be passed on to ant domestic factors and is attributed only to factors external to India.
At 11am, Sensex was down 332 points (1.3%) at 25,075 while Nifty on NSE was down 107 points (1.4%) at 7,634.

Around Asia, Nikkei in Japan was down 2.2% while Hang Seng in Hong Kong was down 2.4%. The recent crashes in global markets are also because of Chinese government decision to let Yuan, its currency that the government manages vigorously, weaken, indicating dim chances of a quick recovery of the economy that grew in double digits for most of the last 25 years.

Source - TOI 

Sensex down 77 points in early trade on Asian cues

MUMBAI: The benchmark BSE Sensex was trading lower by 77 points in early deals on sustained capital outflows by foreign funds and selling by retail investors.

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The 30-share index declined by 77.38 points or 0.30 per cent to 25,502.96. The gauge had lost 580.56 points in the past two sessions on global sell-off amid renewed concerns over the health of Chinese economy.

In a similar fashion, the NSE Nifty was trading lower by 21.30 points or 0.27 per cent to 7,763.30.

Stocks of metal, banking, FMCG, infrastructure, realty and auto sectors were leading the fall.

Brokers said sentiment remained weak in the absence of any positive trigger amid sustained capital outflows by foreign funds.

Besides, extended losses at other Asian markets fanned by another round of weak Chinese economic indicators, sinking oil prices and rising tensions in the Middle East weighed on sentiments, they added.

In other Asian markets, Hong Kong's Hang Seng index was down by 0.95 per cent, while Japan's Nikkei shed 1.62 per cent in early trade today. Shanghai Composite Index, however, was up 0.62 per cent.

The US Dow Jones ended marginally up by 0.06 per cent in yesterday's trade.

Source - TOI

Sensex down 106 points in early trade; healthcare, IT hurt

MUMBAI: The benchmark BSE Sensex fell almost 106 points in early trade today weighed down by losses in healthcare, IT and consumer durables amid a mixed trend in Asian markets.

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The 30-share index fell 105.68 points, or 0.41 per cent, to 25,413.54. The gauge had lost 284.54 points in the previous session on Friday.

On similar lines, NSE Nifty edged lower by 28.50 points, or 0.36 per cent, to 7,733.45.

Brokers said profit-booking in recent gainers amid the prevailing uncertainty over passage of the GST Bill dampened sentiment.

Besides, a mixed movement at other Asian markets and weekend losses in the US and European markets triggered selling, they said.

Elsewhere in Asia, Japan's Nikkei was down 1.70 per cent while Hong Kong's Hang Seng was up 0.28 per cent in morning trade today.

The US Dow Jones ended 2.10 per cent lower in Friday's trade.

Source - TOI 

BKC rank down, still world’s 18th costliest office enclave

Mumbai

The city's Bandra-Kurla Complex (BKC) is the 18th most expensive office enclave in the world, according to CBRE Research's semi-annual Global Prime Office Occupancy Costs survey released on December 17. This is a drop of three spots from the last survey in June.

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BKC commands a rate of $94 (approx Rs 6,250 per sq ft per annum). Mumbai's Nariman Point also witnessed a marginal drop of two places to 32 in the rankings at about $72 psf per annum (Rs 4,789).

Delhi's Connaught Place continued to figure in the top 10 global list of "most expensive" office markets at sixth position. The latest survey provides data on office rents and occupancy costs as of September 30, 2015.

The CBRE report rated London's West End as the world's highest-priced office market for the second straight year. Hong Kong and Beijing took four of the top five slots in the rankings, with Hong Kong's Central, Beijing's Finance Street and Central Business District (CBD), and Hong Kong's West Kowloon, rounding out the top four.

Anshuman Magazine, CMD, CBRE South Asia, said, "The survey also reflects the continually changing dynamics across other markets around the globe which impacts our office market rankings. The drop in ranking for Mumbai's BKC is due to a marginal decline reported in other cost components even as overall rents have mostly remained stable."

On the other hand, rents and other real estate cost indicators were mostly stable for Nariman Point during the review period. However, a drop in ranking is due to a relative improvement in the ranking of other global markets.

London's West End topped the 'most expensive' list, with overall prime occupancy costs of $273 per sq ft per year. Hong Kong (Central) followed, with prime occupancy costs of $269 per sq ft per year, Beijing (Finance Street) at $191 per sq ft per year, Beijing (CBD) at $183 per sq ft per year, and Hong Kong (West Kowloon) at $162 per sq ft per year, rounded out the top five. Asia Pacific was home to seven of the top 10 most expensive markets globally.

Hong Kong (Central) remained the only market in the world, other than London's West End, with a prime occupancy cost exceeding $200 per sq ft per annum. "But there is evidence that overseas financial services companies are resistant to continued high costs and may be seeking alternatives to a Hong Kong location," it said.

Source - TOI

Sensex down 100 points in early trade on profit-booking

BAI: The benchmark BSE sensex fell by over 100 points in early trade on Friday due to profit-booking by investors after recent gains amid weak cues from Asian markets.

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The 30-share barometer fell by 100.77 points or 0.39% to 25,703.01, with indices — IT, auto, consumer durable, metal and bank — leading the fall.

The index had gained 759.35 points in the last four sessions.

Also, the NSE Nifty was trading lower by 35.10 points or 0.44% at 7,809.35.Brokers said that apart from profit-booking in recent gainers, weak trend at other Asian bourses, tracking overnight losses at the US markets, mainly influenced the sentiment.

In the Asian region, Hong Kong's Hang Seng was quoting lower by 0.23% and Shanghai Composite was down 0.12% in early trade. Japan's Nikkei shed 0.24%.

Source - TOI

Sensex down 61 points ahead of IIP data

In choppy deals, the benchmark BSE Sensex fell over 61 points in early trade on profit-booking in select stocks by participants ahead of the IIP data to be released later in the day amid mixed Asian cues.

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The 30-share index was 61.31 points or 0.24 per cent down at 25,191.01 after rising to 25,316.14 in early choppy trade with sectoral indices, led by realty, PSU, FMCGs, banking, oil&gas and auto were in negative zone.

The gauge had snapped a six-session falling streak to close 216.27 points higher in Thrusday's volatile trade.

The National Stock Exchange index Nifty which went past 7,700 mark to touch a high of 7,703.05 points, succumbed to profit-booking and was down by 20.50 points or 0.27 per cent at 7,662.80.

Stock brokers said trimming of positions by cautious participants ahead of key economic data — industrial production (IIP) numbers for October — to be released later in the day, weighed on sentiments.Moreover, a mixed trend at other Asian bourses, negatively impacted sentiments, they added.

China's main Shanghai Composite Index fell 0.83 per cent, Hong Kong's Hang Seng shed 0.64 per cent while Japan's Nikkei gained 0.99 per cent in morning trade on Friday.

The US Dow Jones Industrial Average ended 0.47 per cent higher in Thursday's trade.

Source - TOI

Sensex opens 84 points down on foreign fund outflows, global cues

MUMBAI: Indian shares continued their losing run as the benchmark BSE Sensex lost ground by over 84 points and the NSE Nifty cracked below the 7,700 mark in early trade as investors indulged in scaling down their bets, tracking weak global cues. 

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Moreover, renewed concerns over passing of key reform bills like GST too dampened sentiments. 

The 30-share index was trading lower by 84.67 points or 0.33 per cent at 25,225.66 with metal, realty, oil&gas, PSU, power, healthcare and IT stocks contributing to the fall. The gauge has plunged by 860 points in the previous five sessions on sustained foreign fund outflows and worries over the passage of GST bill. 

Also, Nifty dipped below the 7,700-mark by falling 24.05 points or 0.31 per cent to 7,677.65. 

Brokers said continued capital outflows by foreign funds and a weak trend in other Asian markets following overnight losses in the US equities amid a retreat in commodity-linked stocks due to weaker oil prices accelerated selling here. 

Japan's Nikkei was down 0.52 per cent while Hong Kong's Hang Seng shed 0.41 per cent in early trade today. Shanghai, however, was up by 0.52 per cent in early trades. 

The US Dow Jones Industrial Average ended 0.92 per cent lower in yesterday's trade.

Source - TOI

Sensex extends losses, down 99 points in early trade

MUMBAI: The benchmark BSE Sensex was down by 99 points in early trade on sustained capital outflows amid a weak trend in global markets. 

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The 30-share index dropped 98.89 points or 0.38 per cent at 25,431.22 with metal, consumer durables, healthcare, PSU, capital goods and banking sector stocks, leading the slide. The gauge had cumulatively lost 639.30 points in the last four sessions. 

In a similar fashion, the broad-based National Stock Exchange index Nifty slipped by 31.30 points 0.40 per cent to 7,734.10. Brokers said sentiment took a hit on sustained foreign fund outflows and a weak trend in other Asian markets, tracking overnight losses in the US after oil sank to a seven-year low as OPEC decided not to slash output. 

Besides, absence of positive cues too had negative impact, they added. 

Among other Asian markets, Hong Kong's Hang Seng was down 1.89 per cent, while Japan's Nikkei shed 1.03 per cent in today. Shanghai Composite index dropped 1.33 per cent. 

The US Dow Jones Industrial Average ended 0.66 per cent lower in yesterday's trade.

Source - TOI

Sensex opens 100 points down, Nifty below 7,750

NEW DELHI: The S&P BSE sensex slipped over 100 points in morning trade on Monday, led by losses in Infosys, HDFC, ONGC, TCS, Tata Motors, and HDFC Bank. 

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The Nifty50 was down below its crucial psychological level of 7,750, weighed down by losses in IT, metal, oil & gas, and realty stocks. 

The shares of Coal India slipped over 2 per cent after rallying up to 2% in early trade, the company reported its Q2 earnings post market hours on Friday. Meanwhile, Vedanta, CIpla and Hindalco shares tumbled up to 4 per cent.

Source - TOI

Sensex down 101 points in early trade on extensive selling

MUMBAI: Extending its fall for the second session, the benchmark BSE Sensex fell by another 101 points to trade at 26,451 in early trade today on widespread losses on sustained selling by cautious investors ahead of the Bihar elections result. 

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The 30-share barometer, which had lost 37.67 points yesterday, fell further by 101.82 points, or 0.38 per cent, to 26,451.10. 

Also, the NSE Nifty declined by 37.8Major losers that dragged down the key indices included Vedanta Ltd, Sun pharma, Bharti Airtel,Axis Bank, Lupin, Tata steel, RIL, ICICI Bank and Dr Reddy. 

Investors are cautious awaiting Bihar assembly polls outcome, as also weaker-than-expected Q2 earning by some bluechip companies impacting market sentiments, brokers said. 

In Asian markets, Hong Kong's Hang Seng was up 0.27 per cent, while Japan's Nikkei rose by 1.04 per cent in early trade today. Shanghai Composite index was up 2.69 per cent. 

The Dow Jones Industrial Average, however, ended 0.28 per cent lower in yesterday's trade.0 points, or 0.47 per cent, to 8,002.40

Source - TOI

Sensex closes provisionally 181 points down

MUMBAI: A benchmark index of the Indian equities markets, the 30-scrip BSE Sensitive Index (Sensex), provisionally closed Friday's trade 181.31 points or 0.68 per cent down. 

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The wider 50-scrip Nifty of the National Stock Exchange (NSE) also provisionally closed 45.65 points or 0.57 per cent in the red at 8,065.80 points. 

The Sensex of the S&P Bombay Stock Exchange (BSE), which opened at 26,878.48 points, provisionally closed at 26,656.83 points (at 3.54 p.m.) down 181.31 points or 0.68 percent from the previous day's close at 26,838.14 points. The Sensex touched a high of 26,942.29 points and a low of 26,585.20 points in the intra-day trade.

Source - TOI

Sensex down 156 points; Nifty below 8,200

MUMBAI: The benchmark BSE Sensex tanked over 156 points and the NSE Nifty dipped below the 8,200-level in early trade on Wednesday due to sustained selling by participants amid mixed Asian cues.

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Caution ahead of expiry of October month contracts in the derivatives segment tomorrow also influenced sentiments.

The 30-share barometer was down by 156.11 points or 0.57 per cent to 27,097.33 in early trade.The index had lost 217.37 points in the previous two straight sessions.

All the sectoral indices led by banking, realty and capital goods were trading in the negative zone, falling up to 0.94 per cent.

The NSE Nifty slipped below the 8,200-mark by losing 51.90 points or 0.63 per cent to 8,181.00 in early trade.

Brokers said continued selling by investors, taking cues from weak Asian markets following overnight losses at the US markets ahead of a policy statement from the Federal Reserve dampened sentiments here.

Investors are awaiting the US Federal Reserve's policy statement which could provide clues about the timing of an interest rate hike.

Among Asian markets, Shanghai composite was quoting 0.91 per cent lower, Hong Kong's Hang Seng shed 0.72 per cent, while Japan's Nikkei up by 0.60 per cent in early trade on Wednesday.

The Dow Jones Industrial Average ended 0.24 per cent lower in Tuesday's trade.

Source - TOI

Sensex down 75 points despite positive economic data

MUMBAI: The benchmark BSE Sensex fell over 75 points in early trade on Tuesday on profit booking by investors in recent gainers despite positive macroeconomic data. 


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The 30-share barometer, which had lost 175.40 points in yesterday's session, was trading down 75.45 points, or 0.28 per cent, at 26,828.66, with metal, IT, teck, banking and auto stocks leading the losses. 

On similar lines, the NSE Nifty shed 22.90 points, or 0.28 per cent, at 8,120.70 points.Brokers said sentiment turned weak despite industrial production grew at a nearly three-year high of 6.4 per cent in August on account of improvement in manufacturing as well as mining activity and better offtake of capital goods. 

Retail inflation rising to 4.41 per cent in September, had a negative impact, they said. 

A weak trend at other Asian markets after data showed a slump in Chinese imports, fuelling worries about health of Asia's largest economy also weighed on the sentiments here. 

Among other Asian markets, Hong Kong's Hang Seng was down 0.23 per cent, Shanghai's Composite index fell 0.30 per cent, while Japan's Nikkei shed 0.93 per cent in early trade. 

The US Dow Jones Industrial Average ended 0.28 per cent higher in yesterday's trade.

Source - TOI

Home loan interest rates expected to come down

Bangalore

The inflation rate is under control and the given macroeconomic factors could lead to the RBI bringing down the key rates in its next monetary policy review later this month. The next Credit Policy review is due on September 29. As always, there are expectations of a reduction in the key interest rates. The expectations are strongly supported by the ground realities and requirements. Bankers expect the Reserve Bank of India (RBI) to cut the key rates later this month as the inflationary pressures seem under control.

The industry is already pushing strongly for a rate cut. The RBI has already made a 75 basis percentage points reduction this year in instalments. It is to be noted that although the inflationary pressures are still not completely under control, the government's food management and the minimal rise in support prices of farm products should help in keeping the inflation rate under control.

The RBI has observed that 'so far the inflation outcomes have closely tracked the projections'. A reduction in the key rates is also called for because of the stressed balance sheets of corporates and banks, low capacity utilisation, low oil prices and depreciating rupee.

Some macroeconomic factors will further help in the push for an interest rate reduction. The major supporting factor is the subdued inflation rate that has touched record lows, as well as the inflationary forces. It has been further supported by the falling crude oil prices.

Bankers expect the RBI to cut the policy repo rate from 7.25 percent at the next meeting. The consumer price data for July has shown the retail inflation rate at a record low of 3.78 percent, giving the RBI more room to ease the policy rates.

In order to inject more momentum in the economy and encourage investments, the government and corporates have requested the RBI to lower the interest rates. The Index of Industrial Production (IIP) data for the month of June came in at 3.80 percent as compared to the previous month's data of 2.70 percent, but we have to gear up much more in the manufacturing segment for higher growth.

An interest rate cut by the RBI is sure to boost investments. Further, it is apparent from the recent earnings of corporates that demand has not picked up in almost all the sectors. However, this earnings season was better than the March quarter. Though the corporate earnings' growth has been muted so far, it is expected that the markets will remain positive as the long-term growth story of the economy is intact. The GDP growth rate slipped to seven percent in the April-June quarter of 2015-16, from 7.50 percent in the preceding quarter.

Source - TOI Banglore 

Sensex down 109 pts, Nifty slips below 8,500 on global cues

MUMBAI: The benchmark BSE Sensex stretched its losses for the third day on Wednesday, declining over 109 points in early trade on sustained selling by investors amid weak global cues. 

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The NSE Nifty fell below the 8,500-mark to trade at 8,498.65 points, down by 30.80 points, or 0.36 per cent over previous close. 

The 30-share Sensex fell further by 109.20 points, or 0.38 per cent, to 28,072.94 with IT, metal, teck, banking, capital goods and power stocks leading the fall. 

The gauge lost 281.17 points in the previous two consecutive sessions. 

Brokers said investors indulged in selling after a weak trend at other Asian markets following overnight sell-off at the US markets on corporate earnings concern. 

They said even better-than-expected first quarter earnings by some companies failed to boost domestic stock markets. 

In other Asian markets, Hong Kong's Hang Seng index was down 0.53 per cent while Japan's Nikkei shed 1.25 per cent in early trade on Wednesday. 

The US Dow Jones sank 1 per cent on Tuesday. 

Source - TOI