INDIAN BENCHMARKS MARKET WRAP-UP UPDATES

INDIAN BENCHMARKS: SENSEX ENDS FLAT AFTER A VOLATILE SESSION, NIFTY 50 CLOSES ABOVE 7200

Tracking mixed cues from European and other Asian markets, the domestic equity market ended a volatile week on a flat note.

The S&P BSE Sensex ended a choppy session with gains of 59.93 points or 0.25 per cent, at 23,709.15. The 50-share NSE Nifty Trading Tips 50 also managed to eke out gains to close at 7,210.75, up 19 points, or 0.26 per cent. Both, the bourses have climbed 3.31 and 3.15 per cent, respectively, in the week.

Banking shares gained for the second straight day, with public sector banks taking the lead. The government is likely to set up a "bad bank" to take over the non-performing assets. 

HEADLINES OF THE DAY

• SBI issues 30,000 Basel III compliant Tier-II bonds; stk up
• Ultratech purchases two cement plants of JP Associates
• Bajaj Auto launches CT100B for Rs30, 990

The crucial resistance for Nifty SPOT is now seen at 7271 and above this 7324. Support for the immediate term is now placed at 7127 and next support will be 6980.

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INDIAN BENCHMARKS NEWS UPDATES

INDIAN BENCHMARKS are trading on a lower note during the morning trading session mirroring losses in the global equities after the recent rally in oil prices reversed stoking concerns regarding the outlook of the global economy. Oil futures slipped on oversupply glut. Rise in US crude stocks raised concerns about global oversupply, outweighing moves by oil producers including Saudi Arabia and Russia to cap oil output. US crude inventories rose by 2.1 million barrels last week, to a peak of 504.1 million barrels, the third week of record highs in the past month, data from the US government's Energy Information Administration (EIA) showed on Thursday. At 9:29 am BSE SENSEX was at 23609.52, down by 39.7 points or by 0.17% while the NSE Nifty Trading Tips was at 7161.45, down by 30.3 points or by 0.42%. The top gainers of the BSE Sensex pack were M&M up 1.02%, Wipro up 0.99%, RIL up 0.98%, Bajaj Auto 0.96%, Bharti Airtel 0.75%, among others. The top losers of the BSE Sensex pack were BHEL 1.88%, Coal India 1.29%, Axis Bank 1.14%, ITC 1.02%, GAIL 0.82%, among others. Among the sectoral indices on BSE, BSE Metal index was at 6810.74, down by 55.97 points or by 0.82% led by Vedanta 2.18%, Hindalco Inds 1.45%, Coal India 1.29%, JSW Steel 0.67%, Tata Steel 0.66%. 

Asian stocks were trading lower as investors booked profit after gains in the previous sessions as the recent upmove in global crude oil prices took a breather on the back of rising US oil inventory while global economic growth concerns also weighed on sentiment. Japanese shares witnessed profit taking after recent gains. Meanwhile strengthening of the Yen further hurt the sentiments. The benchmark Nikkei was down 2.3% while Shanghai Composite was down 0.1 % while Hang Seng eased 0.6% and Straits Times was down 0.4%

Trend in FII flows:   

The FIIs were net  sellers of  Rs -418.64 Cr in the cash segment on Wednesday while the DIIs were net buyers of  Rs 712.12 Cr, as per the provisional figures released by the NSE.

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INDIAN BENCHMARKS MARKET WRAP-UP UPDATES

INDIAN BENCHMARKS: Sensex rallies 278 points, Nifty50 closes in on 7,500 

Tracking mixed cues from global markets, the domestic equity market notched up handsome gains for the second day on Friday, led by a rally in banking, metal and IT stocks.

A strong rally in the US market in overnight trade amid a rebound in crude prices helped investor sentiments on Dalal Street.

The 30-share Sensex of the BSE ended at 24,616.97, up 1.14 per cent or 278.54 points. The NSE's Nifty50 settled at 7,489.10, up 1.15 per cent or 85.10 points. 

Banking stocks led the gains, as Axis Bank  rose 4.40 per cent, Bank of Baroda 4.11 per cent and PNB 4.07 per cent.

Axis Bank, Tata Motors, Cipla, Hero Moto and Bajaj Auto were among the highest gainers,

Gail, Maruti, Adaniport, ONGC were among the losers. 

UPCOMING RESULTS:

APOLLOTYRE, BHARAT FORGE, AURO PHARMA, CESC, BRITANNIA, DR REDDY, GAIL, HINDALCO, MOTHERSUMI, PETRONET

HEADLINES OF THE DAY

• Lupin jumps as Q3 earnings give positive surprise; profit, revenue beats estimate
• Bosch announces Q3 net profit at Rs221 crore
• Eicher Motors spurts on robust Q3 consolidated net profit

The crucial resistance for Nifty Trading Tips SPOT is now seen at 7576 and above this 7634.Support for the immediate term is now placed at 7457 and next support will be 7361.

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INDIAN BENCHMARKS MARKET WRAP-UP UPDATES

INDIAN BENCHMARKS: SENSEX BREAKS LOOSING STREAK UP 115 POINTS, NIFTY HOLDS 7400

The domestic equity market breached a three-day losing streak and notched up handsome gains on Thursday after a bounce in crude oil prices in overnight trade infused new life to equity markets worldwide. 

While PSU energy giant ONGC led the surge in the Sensex pack with a 3.26 per cent gain, Reliance Industries still closed weaker at Rs 980.55, down 0.02 per cent. Among others, Asian Paints (up 2.73 per cent), L&T (up 2.93 per cent), Adani Ports (up 2.50 per cent), Infosys (up 1.76 percent) Tata Motors (up 2.12 per cent) and Coal India (up 1.78 per cent) were among other top gainers. 

The 30-pack S&P BSE Sensex gyrated wildly for the larger part of the day and still remained in the positive territory. The benchmark ended the day at 24,338.43, up 0.48 per cent or 115.11 points. 

In the 50-stock Nifty50, which closed at 7,404, up 0.57 per cent or 42.20 points, as much as 36 stocks ended with gains, with Vedanta (up 11.27 per cent), Cairn (up 6.59 per cent), Tata Power (up 3.68 per cent) and ONGC (up 3.60 per cent) being the top gainers.

On the other hand, Lupin (down over 2.88 per cent), Idea (down over 2.80 per cent), Yes Bank (down over 2.10 per cent), NTPC (down 2.06 per cent) and Cipla (down over 1.97 per cent) were the top losers. 

UPCOMING RESULTS:

DIVIS LAB, EICHER, LUPIN, SOBHA, PTC, RADICO, CADILA

HEADLINES OF THE DAY

• Union Budget on Feb 29; Railway Budget on Feb 25
• Team Lease Rs423 cr IPO oversubscribed
• Bajaj Auto Q3 net profit up by 5% (YoY)

The crucial resistance for Nifty Trading Tips SPOT is now seen at 7460 and above this 7566.Support for the immediate term is now placed at 7336 and next support will be 7250.

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INDIAN BENCHMARKS NEWS UPDATES

INDIAN BENCHMARKS 

The Indian markets were trading on a positive note during the morning trading session tracking their Asian peers. Meanwhile, a weak US services data dampened hopes of a further rate hike by the Federal Reserve in the near future helping a rally on Wall Street. Top gainers in early trades include, Cairn India, Vedanta, Hindalco, Coal India and PSU banks such as SBI, PNB and Bank of Baroda. At 9:29 am BSE SENSEX was at 24417.99, up by 194.67 points or by 0.8% while the NSE Nifty Trading Tips was at 7411.45, up by 49.65 points or by 0.67%. The top gainers of the BSE Sensex pack were Oil And Natural Gas Corporation 2.06%, Larsen & Toubro 1.56%, Reliance Industries 1.25%, Asian Paints 1.22%), Adani Ports & Special Economic Zone 1.10%, among others. The top losers of the BSE Sensex pack were Tata Steel 1.43%, NTPC 0.62%, GAIL  0.38%, Bajaj Auto 0.36%, among others.

Global Indices:

Asian shares bounced back in today’s trade after a weak US services data dampened hopes of a further rate hike by the Federal Reserve in the near future which in turn hammered the dollar and spurred a rise in the oil prices. Hang Seng and Shanghai Composite gained between 1.5%-2%. However, Japan’s Nikkei lost 0.7% as yen strengthened against the dollar.

RESULT’S ON  4TH FEB  2016 :  BAJAJ AUTO, TATASTEEL, TORRENT PHARMA, ZYDUS WELLNESS, GSPL,

Trend in FII flows:   

The FIIs were net  sellers of  Rs -357.13 Cr in the cash segment on Wednesday while the DIIs were net buyers of  Rs 144.78 Cr, as per the provisional figures released by the NSE.

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INDIAN BENCHMARKS MARKET WRAP-UP UPDATES

INDIAN BENCHMARKS: SENSEX ENDS UP 50 POINTS, NIFTY 50 AT 7436

The domestic equity market managed to eke out gains on Monday despite crude oil prices slumping about 3 per cent. The benchmark indices traded with solid gains throughout the session buoyed by a surge in other Asian markets before they were pegged back by weak cues from Europe.

The S&P BSE Sensex ended the day with gains of 50 points, or 0.21 per cent, at 24,485.95 while the 50-share NSE  Nifty Trading Tips 50 closed at 7,436, up 14 points, or 0.18 per cent. Tata Steel and Sun Pharma were the top gainers on the BSE benchmark.

The gains on the benchmark index were supported by heavy buying on the counters of HDFC Bank, Tata Steel, ICICI Bank and HUL. However, losses in L&T, Tata Motors and Hero MotoCorp capped the gains. 

UPCOMING RESULTS:

COLPAL,GODREJCP,HDFC,HAVELLS,JUSTDIAL,POWERGRID

HEADLINES OF THE DAY

• Mcleod Russel Q3 net profit down 29%
• HDFC Bank Q3 profit meets estimates
• Hero Motocorp drops as arm plans to sell stake

The crucial resistance for Nifty SPOT is now seen at 7471 and above this 7567.Support for the immediate term is now placed at 7336 and next support will be 7250.

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INDIAN BENCHMARKS NEWS UPDATES

INDIAN BENCHMARKS  are likely to witness cautious opening as the global cues look mixed with SGX Nifty Trading Tips trading 7 points lower. Indian equity benchmarks are set to witness a cautious opening on Monday as an Asian stock rout deepened amid jitters over the health of the global economy and an ongoing slump in oil prices as a removal of sanctions against Iran threatened to worsen a supply glut, sinking investor sentiment and souring risk taking appetite. The CNX Nifty Index futures for January delivery fell by 0.10 per cent or 7.5 points at 7,443.5 at 10:27 am Singapore time, a sign that Dalal Street may open lower today.

Headlines for the day:

• Wipro Q3FY16 results: Muted quarter, guidance  for Q4FY16 looks lackluster 
• Aurobindo Pharma receives USFDA Approval for Tranexamic Acid Injection 
• IDBI Bank to raise Rs 3,771 Cr through QIP route

Global Indices:

• Markets across Asia continued to bleed heavily on Monday as fears over the health of the world economy and tumbling oil prices fueled worries over disinflation, hitting investor mood. Investors awaited China’s fourth quarter GDP data due on Tuesday which could show a further slowdown in the world’s second biggest economy with growth pegged at 6.8 per cent, year on year by analysts, down from 6.9 per cent in Q3.

• Oil slid below the USD 30 per barrel mark to a fresh 12-year low with Iran rattling markets by getting ready to increase its shipments by 500,000 barrels per day after the lift-off of West-imposed sanctions against the Islamic Republic over the weekend, threatening to deepen a global supply surplus.

• Wall Street tumbled on Friday with benchmark S&P 500 sinking to the lowest level since August amidst an ongoing commodity rout and contractions in retail sales & factory output which signaled renewed concerns over the health of the world’s biggest economy.

• Capping off the weakest year since 2009, US retail sales dipped 0.1 per cent in December while factory output fell for a second month on the trot, down 0.1 per cent last month. The Dow Jones Industrial Average sank 2.39 per cent; the Nasdaq Composite fell 2.74 per cent while S&P 500 declined 2.16 per cent.

• European shares ended on Friday at their lowest since mid-December 2014, hit by losses in commodity-related stocks as BHP Billiton announced a major writedown and oil fell below $30 a barrel.

Trend in FII flows:   

The FIIs were net  sellers of  Rs -1123.79 Cr in the cash segment on Friday while the DIIs were net buyers of  Rs 688.84 Cr, as per the provisional figures released by the NSE

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INDIAN BENCHMARKS MARKET WRAP-UP UPDATES

INDIAN BENCHMARKS: SENSEX CAPITULATES IN LAST TRADE, ENDS 318 POINTS DOWN, NIFTY 50 BELOW 7450

The benchmark equity indices tumbled over a per cent on Friday to settle the week on a poor note, thanks to less-than-expected quarterly numbers and big sell off in markets globally. 

The session day was quite volatile for asset classes globally. Concerns over the Chinese economy and tensions in West Asia continued to put a pressure on crude prices, which dropped below $30 a barrel during the day. Currency markets too were volatile, with rupee tumbling to a fresh two-year low level. Adding to the woes were weak December quarter results by Hindustan Unilever. The FMCG company's profit slumped 22 per cent, missing analysts' estimates, as weak demand in rural India continued to  hurt sales.

The 30-share barometer closed at 24,455.04, down 317.93 points or 1.28 per cent. For the week, the index was down 2.06 per cent. 

The Nifty50 fell 99 points, or 1.31 per cent, to settle at 7,437.80. The NSE barometer shed 2.15 per cent for the week. 

HEADLINES OF THE DAY

• HUL Q3 profit below estimates
• Zee Ent Q3 consolidated net profit at Rs275 cr
• Tata Steel close to sell struggling long products business in UK

The crucial resistance for Nifty Trading Tips SPOT is now seen at 7525 and above this 7590.Support for the immediate term is now placed at 7420 and next support will be 7365.

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INDIAN BENCHMARKS NEWS UPDATES

INDIAN BENCHMARKS are likely to witness negative opening as the global cues look unsupportive with SGX Nifty Trading Tips trading 44 points lower. Indian shares are likely to witness negative opening as the global cues look unsupportive with SGX Nifty trading 44 points lower. WPI Inflation data for December 2015 will be declared today  (14th January 2016) and as per the consensus estimates it is expected  come at -1.15% versus -1.99% MoM, Indian stocks snapped a two-day losing streak to end nearly 1 percent higher in a highly volatile day where stocks recovered from over 1-1/2-year lows led by strong buying in heavyweight Reliance Industries. The S&P BSE Sensex and CNX Nifty ended 0.70%-0.69% higher each.

Headlines for the day

• RComm to sign a pact with Reliance Jio to sell its spectrum 
• BSE to remove AB Nuvo from S&P BSE 100 Index and add Cadila Health 
• Sunteck Realty to raise Rs100 crore through issuance of NCDs

Global Indices:

• Asian shares skidded on Thursday in the wake of steep losses on Wall Street, while a rout in oil and commodities prices, with crude plumbing 12-year lows, heightened fears about the global economy.

• U.S stocks tumble as selloff resumes on concern that turbulence in China’s stocks and currency will spread to the global economy just as Federal Reserve is increasing borrowing costs has spurred declines in markets in 2016 , Key data to watch in US today are Jobless Claims, Imports and Export Prices, EIA Natural Gas Report

• European shares rose on Wednesday but ended off their highs on some profit taking and after a rise in U.S. crude oil inventories added to concerns about a deepening supply glut.

Trend in FII flows

The FIIs were net  sellers of  Rs -75.90 Cr in the cash segment on Wednesday while the DIIs were net buyers of  Rs 618.79 Cr, as per the provisional figures released by the NSE.

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INDIAN BENCHMARKS MARKET WRAP-UP UPDATES

INDIAN BENCHMARKS: SENSEX ENDS 172 POINTS HIGH,NIFTY 50 HOLD 7550 LEVEL ON CLOSING BASIS

The domestic equity market on Wednesday made a strong comeback from a nearly 300-point fall, as buying emerged at lower levels.

Earlier, Sensex and Nifty50 had started the day on a strong note, but could not hold on to the gains and plunged to their new 52-week lows at 24,387.69 and 7,425.80 points, respectively. 

But an hour before closing, the benchmark indices staged a rally of nearly 500 points on the Sensex to end the day strongly. While Sensex closed the session at 24,854 points, up 0.7 per cent, Nifty50 logged a gain of 52 points or 0.7 per cent to end at 7,562 

HEADLINES OF THE DAY

• IIP, CPI data disappoint
• TCS Q3 misses muted expectations, 6th straight quarter of earnings
• SBI to monetize non-core assets over next 3 years

The crucial resistance for Nifty Trading Tips SPOT is now seen at 7610 and above this 7752.Support for the immediate term is now placed at 7487 and next support will be 7440.

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INDIAN BENCHMARKS NEWS UPDATES

INDIAN BENCHMARKS are likely to witness positive opening as the global cues look supportive with SGX Nifty Trading Tips trading 36 points higher. The key domestic equity benchmarks are likely remain cautious on Wednesday as investors might react to a surprise factory contraction and a surge in inflation in Asia’s third biggest economy, souring the lure for risky assets. India’s industrial output plunged to over a four-year low, contracting a massive 3.2 per cent in November 2015 from the same month a year ago as manufacturing production shrank 4.4 per cent, signaling a slowdown in the country’s economy. Meanwhile, consumer inflation spiked to a 15-month high of 5.61 per cent in December 2015 from 5.41 per cent in November 2015, dashing hopes of a near-term interest rate cut by the RBI.

Headlines for the day:

• Ultratech may buy a controlling stake in ARM Cement of Kenya 
• Orange acquires Bharti’s  operations in Burkino Faso & Sierra Leone 
• SBI to monetise non-core assets over next 3 years

Global Indices:

• Asian stocks rebounded from a three-year low today as a surprise rise in China’s exports eased concerns over a slowdown in the world’s second biggest economy.

• China’s Shanghai Composite surged over 1 per cent while Hang Seng advanced over 2.2 per cent after data showed that China’s exports rose 2.3 per cent, year on year, in Yuan terms in December 2015, following an annual 3.7 per cent dip in November 2015.

• Japan’s Nikkei 225 surged over 2.6 per cent, rising for the first time this year tracking overnight gains at Wall Street amidst speculation that the China induced global mayhem may have been overdone.

• US job openings rose in November and small business confidence climbed last month, signaling strength in the world’s biggest economy, supporting a rally in US equities. The Dow Jones Industrial Average surged 0.72 per cent; the Nasdaq Composite advanced 1.03 per cent while S&P 500 rose 0.78 per cent.

Trend in FII flows:   

The FIIs were net  sellers of  Rs -540.99 Cr in the cash segment on Tuesday while the DIIs were net buyers of  Rs 141.25 Cr, as per the provisional figures released by the NSE.

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INDIAN BENCHMARKS MARKET WRAP-UP UPDATES

INDIAN BENCHMARKS: SENSEX ENDS 143 POINTS DOWN,NIFTY 50 AT 6 MONTHS LOW OF 7510

The domestic equity market tanked on Tuesday, as the bears took charge on Dalal Street after crude oil prices slumped below the $31 a barrel mark for the first time in 12 years. 

Bank stocks led the slump, after December quarter numbers of two lenders showed a spike in bad loans, raising fresh asset quality concerns.

The S&P BSE Sensex slumped to its fresh 52-week low in intraday trade before closing 54 points, or 0.7 per cent, lower at 7510.30. The 50-share Nifty Trading Tips 50 made its fresh 52-week low, ending the day at 24,682.03, down 143 points, or 0.58 per cent. Federal Bank and Gruh Finance were the top losers on the BSE benchmark. 

HEADLINES OF THE DAY

• IndusInd Bank drops on marginal deterioration in Q3 asset quality
• Federal Bank Q3 net profit down 38.52% (YoY)
• L&T arm bags new order worth Rs1, 247 cr

The crucial resistance for Nifty SPOT is now seen at 7610 and above this 7752.Support for the immediate term is now placed at 7487 and next support will be 7440.

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INDIAN BENCHMARKS NEWS UPDATES

INDIAN BENCHMARKS shares are likely to witness negative opening as the global cues look unsupportive with SGX  Nifty Trading Tips trading 9.50 points lower. Indian equity benchmarks are poised to witness a gap down opening on Tuesday as traders stick to a cautious tone ahead of the start of the Q3 earnings season and the release of the IIP and retail inflation data which will offer latest cues over the health of Asia’s third biggest economy. Against the backdrop of a mixed trend in markets across Asia coupled with weakness in the CNX Nifty Index futures for January delivery which fell by 0.22 per cent or 17 points at 7,568 at 10:18 am Singapore time, Dalal Street may witness a bearish opening today. 

Headlines for the day:

• JLR December 2015 global wholesale volumes up 18.6% YoY 
• Domestic natural rubber prices fall below Rs100 mark for 1st time in 6 years 
• RBI raises provisions for ‘yet to fail’ CDR accounts

Global Indices:

• Asian stocks were trading mixed with China’s Shanghai Composite eking out mild gains while Hang Seng advanced modestly after officials kept the Yuan’s reference rate stable for the third day, tempering some concerns over the world’s second biggest economy.

• Japan’s Nikkei 225 plunged over 2 per cent, marking a sixth straight day of decline, as markets reopened after a public holiday, as energy stocks plunged amidst an oil slump.

• Most indices at Wall Street rallied in volatile trade on Monday as gains in consumer and technology stocks overpowered worries over China’s slowdown and a continued commodity rout.

• Further, strength in China’s currency restored some calm at bourses as concerns eased that the recent devaluation of the Yuan could fuel turmoil in the economies of China’s major trading partners.

• The Dow Jones Industrial Average advanced 0.32 per cent; the Nasdaq Composite fell 0.12 per cent while S&P 500 rose 0.09 per cent.

Trend in FII flows:   

The FIIs were net  sellers of  Rs -1319.24 Cr in the cash segment on Monday  while the DIIs were net buyers of  Rs 900.99 Cr, as per the provisional figures released by the NSE.

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INDIAN BENCHMARKS MARKET WRAP-UP UPDATES

INDIAN BENCHMARKS: MARKET EXTENDS GAIN,SENSEX UP 150 POINTS

Supported by strong gains in the broader market, the Indian benchmark indices extended gain in afternoon session of day’s trade on Friday, tracking firm cues from Asian peers. The market sentiment got a lift after China abandoned a system of market circuit breakers while refraining from a further reduction in the Yuan’s reference rate, offering some comfort to investors. 

The top gainers of  the NSE pack were Tata Motors ,Tata power ,Sun Pharmaceutical Industries 1.66%, TECHM and among others.

Meanwhile, Cipla 2.14%, Coal India 1.84%, Bajaj Auto 1.60%, Adani Ports & Special Economic Zone 1.37%, Larsen & Toubro 1.10%, were among top losers on NSE.

HEADLINES OF THE DAY

• Government mulls part stake sale in Axis Bank
• Sun Pharma receives tentative approval from USFDA for Lacosamide.
• Technocraft Industries to form JV partnership

The crucial resistance for Nifty Trading Tips FUTURE is now seen at 7668 and above this 7695.Support for the immediate term is now placed at 7538 and next support will be 7480.

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INDIAN BENCHMARKS NEWS UPDATES

INDIAN BENCHMARKS are likely to witness positive opening as the global cues look supportive with SGX Nifty Trading Tips trading 37.50 points higher. The Nifty futures listed on the Singapore Stock Exchange are trading in the positive, suggesting markets may open higher today India’s benchmark BSE index fell more than 2 percent on Thursday, hitting its lowest level in over one-and-a-half years after China accelerated the depreciation of the yuan, triggering a domino effect in global equity and currency markets. The S&P BSE Sensex and CNX Nifty fell 2.18%-2.23% each. On Thursday, January 07, 2015, the 30-share Sensex tumbled 2.18% or 555 points, to settle at 24,852, its biggest single-day fall since September 1, 2015, when the index plunged 2.23% or 587 points. CNX Nifty too, plunged 2.23% or 173 points to settle at 7,568.

Global Indices:

China's major stock indexes opened higher on Friday after Beijing ditched a circuit breaker mechanism that halted trading twice this week when share prices tumbled and had been blamed for exacerbating the market sell-offs.

Trend in FII flows:   The FIIs were net  sellers of  Rs -1051.74 Cr in the cash segment on Thursday while the DIIs were net buyers of  Rs 190.86 Cr, as per the provisional figures released by the NSE.

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INDIAN BENCHMARKS NEWS UPDATES

INDIAN BENCHMARKS are likely to witness gap down opening as the global cues look sluggish with SGX Nifty Trading Tips trading 79.50 points lower. Indian equity benchmarks are set to be rocked by renewed turmoil in China after the country weakened the yuan’s reference rate by the most since August, raising concerns over a worsening slowdown in the world’s second biggest economy, pushing global markets into a tailspin, and prompting traders to shun risky assets. Trading in China’s stock bourses was suspended for a second time this week after the benchmark index slid 7 per cent, triggering an automatic circuit breaker. The World Bank cut the global growth forecasts for 2016 to 2.9 per cent from 3.3 per cent estimated earlier as a slowdown in China prolongs a commodity slump while Brazil and Russia suffer steep recessions.

Headlines for the day

• Cipla inks pact with US firm for Ropivacaine infusion system 
• Lupin launches Generic Ortho Tri-Cyclen Lo Tablets 
• NBCC wins work construction orders worth Rs295 crore from IIT Mandi

Global Indices

• Asian stocks plummeted as China’s move to weaken its yuan reference rate to an unexpectedly low level raised more anxiety over the country’s economic slowdown. China’s Shanghai Composite fell over 7 per cent before trading was halted, Hang Seng shed over 2 per cent while Japan’s Nikkei 225 tanked 1.8 per cent as a stronger yen curbed the lure for exporter stocks.

• Doom and Gloom struck Wall Street on Wednesday as worries over a China slowdown, coupled with heightened geopolitical fears amidst Middle East tensions and North Korea’s successful testing of a hydrogen bomb hit sentiment.

• Investors cast aside mostly upbeat US economic data which showed that private payrolls in the US rose by the most in a year, up by 257,000 in December, services maintained solid growth, with the PMI coming in at 55.3 last month, well above the neutral 50-mark, after 55.9 in November.

Trend in FII flows:   The FIIs were net  sellers of  Rs -352.42 Cr in the cash segment on Wednesday while the DIIs were net buyers of  Rs 13.19 Cr, as per the provisional figures released by the NSE.

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INDIAN BENCHMARKS MARKET WRAP-UP UPDATES

INDIAN BENCHMARKS: SENSEX ENDS 174 POINTS DOWN, Nifty Trading Tips 50 BELOW 7750

The domestic equity market tumbled on Wednesday after fresh weakness in crude oil prices and weak services PMI print from China raised investor concerns over the health of the global economy. 

The S&P BSE Sensex slid 174 points, or 0.68 per cent, to end the day at 25,406. Broader market barometer Nifty50, too, ended weak, slipping 44 points, or 0.56 per cent, at 7,741. ITC and ICICI Bank -2.59 % were the top losers on the benchmark. 

Selling was seen on the counters of ITC, ICICI Bank, Infosys, TCS and L&T, which helped ensure a weak closing of the NSE benchmark for the third consecutive session.

HEADLINES OF THE DAY

• Narayana Hrudayalaya makes stellar debut, jumps 35%
• Petronet LNG plans to start consultancy services in human resource
• Aurobindo receives tentative approval for Prasugrel

The crucial resistance for Nifty FUTURE is now seen at 7847 and above this 7893.Support for the immediate term is now placed at 7711 and next support will be 7650.

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INDIAN BENCHMARKS NEWS UPDATES

INDIAN BENCHMARKS are likely to open on a flat note as the global cues look muted with SGX Nifty trading unchanged. The key domestic equity benchmarks are set to witness a flat opening, with a negative bias on Wednesday as investors and speculators resort to a cautious approach tracking a mostly weak trend in Asia amidst ongoing worries surrounding China. The CNX Nifty Trading Tips Index futures for January delivery fell 0.03 per cent or 2 points at 7,779 at 10:27 am Singapore time, signaling that the Sensex may open tad lower today.

Headlines for the day:

• Aurobindo  receives tentative approval for prasugrel 
• India Index Services launches Private Sector Bank Index 
• Jaguar Land Rover December 2015 US Retail volumes up 29.6%

Global Indices:

• Asian stocks were trading mostly lower as a slowdown in China’s services activity raised concerns over the world’s second biggest economy while the country set a weaker fix for the yuan, signaling pressure on policymakers to devalue the currency to support the economy. The People’s Bank of China cut the yuan reference rate by 0.22 per cent, the most since November 3, to 6.5314 per dollar.

• Shanghai Composite bounced back after a severe two-day rout, but Hang Seng fell as the China services index declined to 50.2 in December from 51.2 in November. Japan’s Nikkei 225 fell as a stronger yen curbed the lure for exporter stocks. Wall Street closed little changed on Tuesday as traders weighed China’s move to stabilize the country’s stock markets while December auto sales from top US automakers disappointed.

• The Dow Jones Industrial Average climbed 0.06 per cent; the Nasdaq Composite dropped 0.24 per cent while S&P 500 advanced 0.20 per cent.

Trend in FII flows:   The FIIs were net  sellers of  Rs -352.42 Cr in the cash segment on Tuesday while the DIIs were net buyers of  Rs 13.19 Cr, as per the provisional figures released by the NSE.

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INDIAN BENCHMARKS MARKET WRAP-UP UPDATES

INDIAN BENCHMARKS: SENSEX ENDS 43 POINTS DOWN, Nifty Trading Tips 50 HOLDS 7750

The domestic equity market traded range bound on Tuesday, tracking mixed cues from other Asian and European markets. While the Chinese state authorities intervened to ease the panic in the market, the volatility in stocks kept investors nervous, hampering initiation of fresh positions on the benchmarks. 

The S&P BSE Sensex lost 43 points, or 0.17 per cent, to close the day at 25,580. Nifty50, the 50-stock barometer, closed at 7,785, down 6.69 points, or 0.1 per cent. Tata Steel and GAIL were the top gainers in the index. Selling was seen on the counters of HDFC Bank, TCS, Infosys and HUL, which weighed heavy on the BSE benchmark. 

HEADLINES OF THE DAY

• Indraprastha Gas surges 6%; SC asks Oil Ministry to set up new CNG pumps in NCR
• Reliance Cap gets CCI nod to acquire Goldman Sachs Onshore Asset management business
• JSW Steel gets partial relief from Karnataka HC; stk up

The crucial resistance for Nifty FUTURE is now seen at 7887 and above this 7940.Support for the immediate term is now placed at 7760 and next support will be 7711.

Read more : MCX Crude oil tips , MCX natural gas Tips, MCX Commodity Tips, Crude oilTrading Tips, MCX Free Tips

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