 "Markets remain firm; Tata Motors up nearly 2%")
Markets continue to march ahead in the morning trades following strong cues from the global markets. The rally in the markets is led by Auto followed by capital goods shares.
The absence of any fresh triggers and the agreement in the Greece deal and stability in the Chinese markets could add momentum to the session.
At 10:30 AM, the Sensex was up 228 points at 28,160 while the Nifty was up 58 points at 8,512 levels. Currently, all the stocks on the BSE are trading in green with no losers.
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(Updated 9:45 AM)
Benchmark indices opened the session on a firm note following the positive cues from the global peers.
By 9:45 am, the 30-share Sensex was at 28,141, up by 208 points while the 50-share Nifty was at 8,509, up 55 points.
Among the broader markets, BSE Midcap and Smallcap indices are trading nearly 1% up. The market breadth is strong with 1,288 advances against 446 declines on the BSE.
The markets had ended flat with a negative bias on Tuesday, with the Sensex ending at 27,933, down 28 points and Nifty ending six points down at 8,454.
Technical analysts suggest that since there is no major change in the chart structure, going ahead, the Nifty is likely to retest 8,520 – 8,561 levels in days to come.
"On the flipside, Monday’s and Friday’s low of 8,355 and 8,315 levels, respectively, are seen as strong support for the Nifty. It’s advisable to concentrate more on stock specific action and follow strict stop losses," points out a morning note form Angel Broking.
Among companies, Zee Entertainment Enterprises, Zensar Technologies, South Indian Bank, HT Media, Greenply Ind., Kernex Microsystems,and Cera Sanitaryware are likely to announce their results today.
ECONOMY NEWS
The WPI data for the month of June, which was released yesterday, remained negative for the eighth straight month at -2.4%. However, the retail inflation climbed up to 5.40% for the month of June.
According to the India Meteorological Department (IMD), the cumulative rainfall for the country was 5% below Long Period Average (LPA) until July 13, 2015. The progress of monsoon is crucial this month for sowing of Kharif crops. The development in monsoon would determine the monetary policy of the central bank when it meets for the policy review on August 4, 2015.
Global rating agency Standard and Poor’s (S&P) expects a stable trend in sovereign credit rating in Asia-Pacific nations, including India, despite growing economic uncertainties.
Meanwhile, Foreign Portfolio Investors (FPIs) were the net buyers to the tune of Rs 270 crores as per provisional stock exchange data.
NUCLEAR DEAL
In another significant development, Iran and six major world powers reached a nuclear deal on Tuesday, capping more than a decade of negotiations with an agreement that could transform West Asia. Under the deal, sanctions imposed by the US, the European Union and the United Nations will be lifted in return for Iran agreeing to long-term curbs on a nuclear programme that the West suspects is aimed at creating a nuclear bomb. CLICK HERE FOR THE FULL STORY
“We could see pressure on the crude oil price in next six months as it can supply an extra 500,000 barrels per day within a month and around 1 million barrels per day within next six months. Iran currently exports about 1.3 million barrels per day (bpd) of oil, down from its 2.2 million bpd level ten years ago, before sanctions were imposed. However, it is positive for OMC’s as under recovery will further come down on the back of expected correction in crude oil price,” points out a note from Emkay.
GLOBAL MARKETS
Asia has opened largely in the green ahead of a raft of Chinese data due during the day. Japan's benchmark Nikkei rose to its highest level since July 3, extending gains into a third session, despite a slightly stronger currency. Hong Kong's benchmark Hang Seng Index was little changed, hovering along the flat line.
However, Shanghai declined by 1.6% following a volatile session on Tuesday, which saw the benchmark index briefly hit a near two-week high.
Overnight, Wall Street had gained for a fourth straight session on Tuesday, its longest winning streak since January, buoyed by the energy sector as oil prices rebounded from early declines. The Dow Jones rose 75 points or 0.4% to 18,053, and Nasdaq Composite added 33 points or 0.6% at 5,104.
SECTORS & STOCKS
Sectorally, BSE Capital Goods is leading the rally with 0.9% gains followed by BSE Auto and IT indices, up 0.6% each. BSE Consumer Durables is the only sector trading in red with 0.2% losses.
From the IT space, TCS has advanced 1% while Wipro and Infosys have gained nearly 1% and 0.5% respectively.
After the crude oil prices edged up today, ONGC and Reliance Industries have gained 1.3% and 0.6% respectively on the BSE whereas BPCL, HPCL, IOC are down 1-1.3%.
The banking shares have also gained across the board. HDFC twins, Axis Bank, ICICI Bank and SBI have gained between 0.1-0.6%.
The auto sector is rallying with Maruti up nearly 2% while M&M, Hero motocorp, Bajaj Auto up between 0.5-1.5%
The absence of any fresh triggers and the agreement in the Greece deal and stability in the Chinese markets could add momentum to the session.
At 10:30 AM, the Sensex was up 228 points at 28,160 while the Nifty was up 58 points at 8,512 levels. Currently, all the stocks on the BSE are trading in green with no losers.
More From This Section
The top gainers on the Sensex are Maruti, ONGC, Tata Motors, Wipro and Reliance Inds, all up between 1.4-2.3%.
****************************************************************************
(Updated 9:45 AM)
Benchmark indices opened the session on a firm note following the positive cues from the global peers.
By 9:45 am, the 30-share Sensex was at 28,141, up by 208 points while the 50-share Nifty was at 8,509, up 55 points.
Among the broader markets, BSE Midcap and Smallcap indices are trading nearly 1% up. The market breadth is strong with 1,288 advances against 446 declines on the BSE.
The markets had ended flat with a negative bias on Tuesday, with the Sensex ending at 27,933, down 28 points and Nifty ending six points down at 8,454.
Technical analysts suggest that since there is no major change in the chart structure, going ahead, the Nifty is likely to retest 8,520 – 8,561 levels in days to come.
"On the flipside, Monday’s and Friday’s low of 8,355 and 8,315 levels, respectively, are seen as strong support for the Nifty. It’s advisable to concentrate more on stock specific action and follow strict stop losses," points out a morning note form Angel Broking.
Among companies, Zee Entertainment Enterprises, Zensar Technologies, South Indian Bank, HT Media, Greenply Ind., Kernex Microsystems,and Cera Sanitaryware are likely to announce their results today.
ECONOMY NEWS
The WPI data for the month of June, which was released yesterday, remained negative for the eighth straight month at -2.4%. However, the retail inflation climbed up to 5.40% for the month of June.
According to the India Meteorological Department (IMD), the cumulative rainfall for the country was 5% below Long Period Average (LPA) until July 13, 2015. The progress of monsoon is crucial this month for sowing of Kharif crops. The development in monsoon would determine the monetary policy of the central bank when it meets for the policy review on August 4, 2015.
Global rating agency Standard and Poor’s (S&P) expects a stable trend in sovereign credit rating in Asia-Pacific nations, including India, despite growing economic uncertainties.
Meanwhile, Foreign Portfolio Investors (FPIs) were the net buyers to the tune of Rs 270 crores as per provisional stock exchange data.
NUCLEAR DEAL
In another significant development, Iran and six major world powers reached a nuclear deal on Tuesday, capping more than a decade of negotiations with an agreement that could transform West Asia. Under the deal, sanctions imposed by the US, the European Union and the United Nations will be lifted in return for Iran agreeing to long-term curbs on a nuclear programme that the West suspects is aimed at creating a nuclear bomb. CLICK HERE FOR THE FULL STORY
“We could see pressure on the crude oil price in next six months as it can supply an extra 500,000 barrels per day within a month and around 1 million barrels per day within next six months. Iran currently exports about 1.3 million barrels per day (bpd) of oil, down from its 2.2 million bpd level ten years ago, before sanctions were imposed. However, it is positive for OMC’s as under recovery will further come down on the back of expected correction in crude oil price,” points out a note from Emkay.
GLOBAL MARKETS
Asia has opened largely in the green ahead of a raft of Chinese data due during the day. Japan's benchmark Nikkei rose to its highest level since July 3, extending gains into a third session, despite a slightly stronger currency. Hong Kong's benchmark Hang Seng Index was little changed, hovering along the flat line.
However, Shanghai declined by 1.6% following a volatile session on Tuesday, which saw the benchmark index briefly hit a near two-week high.
Overnight, Wall Street had gained for a fourth straight session on Tuesday, its longest winning streak since January, buoyed by the energy sector as oil prices rebounded from early declines. The Dow Jones rose 75 points or 0.4% to 18,053, and Nasdaq Composite added 33 points or 0.6% at 5,104.
SECTORS & STOCKS
Sectorally, BSE Capital Goods is leading the rally with 0.9% gains followed by BSE Auto and IT indices, up 0.6% each. BSE Consumer Durables is the only sector trading in red with 0.2% losses.
From the IT space, TCS has advanced 1% while Wipro and Infosys have gained nearly 1% and 0.5% respectively.
After the crude oil prices edged up today, ONGC and Reliance Industries have gained 1.3% and 0.6% respectively on the BSE whereas BPCL, HPCL, IOC are down 1-1.3%.
The banking shares have also gained across the board. HDFC twins, Axis Bank, ICICI Bank and SBI have gained between 0.1-0.6%.
The auto sector is rallying with Maruti up nearly 2% while M&M, Hero motocorp, Bajaj Auto up between 0.5-1.5%