Market Live: Nifty breaks 9700 on F&O

Market Live: Nifty breaks 9700 on F&O expiry day, Sensex mildly lower 

Govt plans to dilute stake in O&G fields: India plans to offer stakes of up to 60 percent in oil and gas fields owned by state energy companies that are already under production to private firms, Reuters said quoting five government and company sources with knowledge of the matter. 

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The government is making the decision after failing to draw investment from global oil majors in new fields. The plan would boost India's domestic oil and gas output and would meet Prime Minister Narendra Modi's target to reduce oil imports by 10 percent by 2022. However, the plan could reduce profits of state-owned companies. 

Technical Outlook: See Nifty support in the range of 9,710-9,755, said Laurence Balanco of CLSA in an interview to CNBC-TV18. He still has a long-term target of 12,000 on Nifty. 

• Nifty at 9,710 is a good buying opportunity. 
• Nifty can attain 10,300 mark by end of current calendar year. 
• He see downside target for the rupee at 62 against the US dollar. 
• Talking about crude, he said for Brent crude USD 58 per barrel looks like the top of its trading range 

Rupee at over 6-month low: The rupee took more blows today as it slipped 16 paise to a fresh six and a half month low of 65.88 against the dollar that gained clout overseas on talk of a US rate hike and the prospect of monetary stimulus pullout

Live Nifty Sensex Update

LIVE: Sensex jumps over 70 points, Nifty above 8,650; Idea Cellular down, Aurobindo Pharma gains  

9.25 am: Aurobindo Pharma shares were trading 3.71 per cent higher at Rs 763.60. Sensex was up 65.98  points at 28056.19. Nifty was trading 12.45 points up at 8645.05.

9.20 am: Idea Cellular shares were down 3.17 per cent at Rs 97.60. Shares of the Company jumped over 7 per cent on Tuesday after media reports that Idea Cellular is exploring options for strategic deal with Vodafone and the telecom major is talks with Vodafone for potential merger. However, Idea Cellular in a reply to BSE said, “We would like to inform that, the news item is absolutely untrue and preposterous.” 

 9.15 am: Sensex opened 75.04 points up at 28065.25, while Nifty opened 15.90 points up at 8648.50.  

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PRE-OPENING  

The BSE Sensex and NSE Nifty are likely to open lower on Wednesday tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and mixed global cues. At 8 am (IST), SGX Nifty was trading 26.50 points down at 8,627.50. Asian peers were trading mixed in the morning trade. Hang Seng was down by 0.52 per cent at 22878, Shanghai and Nikkei were trading higher by 0.49 per cent and 0.01 per cent, respectively.  

Castrol Ltd, a unit of oil major BP Plc, is selling an up to $261 million stake in Castrol India Ltd in a block trade on Wednesday, according to a termsheet seen by Reuters. The BP unit is selling shares at between Rs 385 to Rs 415.5 apiece, the termsheet showed. Castrol India shares on Tuesday closed 0.14 per cent down at Rs 417.10.  

Aurobindo Pharma on Tuesday registered a 23.81 per cent increase in consolidated net profit at Rs 584.96 crore for the first quarter ended June 30, 2016 against net profit of Rs 472.45 crore in the corresponding quarter a year ago.

LIVE: Sensex, Nifty Open Flat

LIVE: Sensex, Nifty open flat; Allcargo Logistics, HPCL shares fall 

9.24 am: Allcargo Logistics fell over 5 per cent post Q1 results. The scrip was trading 5.27 per cent down  
at Rs 185 in the early trade.

9.18 am: Shriram EPC shares were trading 10.43 per cent up at Rs 24.35 in the early trade. Sensex was down 26.92 points at 27958, while Nifty was trading 9.95 points down at 8,619.  

9.15 am: Domestic benchmark indices opened on a flat note on Tuesday. Sensex opened 27.02 points up at 28012.56, while Nifty opened 0.80 points, or 0.01 per cent, down at 8,628.35.  

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8.07 am: The BSE Sensex and NSE Nifty are likely to open on a flat note with negative bias on Tuesday tracking Nifty futures on the Singapore Stock Exchange and mixed global cues. At 7.57 am (IST), SGX Nifty was down 10.50 points, or 0.12 per cent, at 8,617. Asian peers, Hang Seng and Nikkei were down by 0.28 per cent and 0.20 per cent, respectively, in the morning trade. However, Shanghai was trading up by 0.43 per cent.  

The 30-share Sensex dipped 91.46 points to 27985.54 on Monday with investors adopting cautious stance after the appointment of Urjit Patel as the next RBI chief, who is very unlikely to cut rates in view of high inflation. NSE Nifty 50 index closed 37.75 points down at 8,629.15.  

Shares of Pfizer and HPCL will remain in focus on Tuesday. Pfizer will pay about $14 billion to buy cancer drug developer Medivation in a cash deal aimed at fortifying its hold in one of the hottest and most lucrative areas of medicine.  

State-owned Hindustan Petroleum Corp (HPCL) on Monday registered a 30 per cent rise in its June quarter net profit to Rs 2,098.38 crore on rise in fuel sales and inventory gains. The oil marketing company posted a net profit of Rs 1614.13 crore in the corresponding quarter a year ago.

Sensex Down Over 100 Points

Sensex Down Over 100 Points; Sun Pharma, Lupin Drag  
11.36 a.m.: Sun Pharma led selloff in pharma stocks, it was down 2.3 per cent at Rs 765.85. The pharma  sub-index of National Stock Exchange was down 1.05 per cent. Lupin , Auro Pharma were the other two big losers in the index. Meanwhile the Sensex was down 136 points at 27,941 and the Nifty traded 46 points lower at 8,621. The rupee was at 67.19, down 13 paise against the dollar.

10.40 a.m.: Sensex fell 134 points to 27,943 after selling intensified in metal and auto shares. The Nifty traded 46 points lower at 8,621. Hindalco, Sun Pharma, Lupin, Bank of Baroda were the prominent losers in the Nifty, down 1.5-2 per cent.  

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10.10 a.m.: Selling in auto, metal and banking shares dragged frontline indices lower. The Sensex was down 65 points at 28,012 while the Nifty50 index traded 25 points lower at 8,642.  

10.05 a.m.: Fortis Malar Hospital shares surged 20 per cent to Rs 68.50 after its parent Fortis Healthcare announced demerger of diagnostic business with itself.

9:30 p.m.: Welspun India slumps 20 per cent after Bloomberg reported that Target Corp is ending all business with the company, "after saying the supplier was sending it phony Egyptian cotton sheets".  

9:25 p.m.: Sensex overcame a weak start to move higher with FMCG and energy stocks edging higher in early trade. Sensex up over 50 points while Nifty rises to 8,685 at day's high. The BSE Sensex and Nifty are likely to open flat on Monday as indicated by SGX Nifty (Nifty futures trading on Singapore Stock Exchange), which was up 11 points at 8,699 as of 8.10 a.m.  

The government on Saturday appointed Urjit Patel, current Deputy Governor at Reserve Bank of India, as the new Governor who will replace outgoing Governor Raghuram Rajan. Mr Patel's appointment as Reserve Bank Governor should lead to a rally in stock markets, said most of the analysts as it signals the continuity of monetary policy, which is focused on curbing inflation.

Sensex Rallies over 100 Points, Nifty Crosses 8,700

LIVE: Sensex rallies over 100 points in opening trade, Nifty crosses 8,700 to hit 52-week high; Wockhardt down 11 per cent  

9.32 am: Amara Raja Batteries stocks were trading 1.69 per cent up at Rs 917.15 after it posted a rise of 6.82% in its net profit at Rs 130.66 crore for the quarter ended June 30, 2016 as compared to Rs 122.32 crore for the same quarter in the previous year. Sensex was trading 143.84 points up at 28,222.19, while NSE Nifty was trading 37.40 points up at 8,720.55.  

9.19 am: Sensex was trading 107.60 points up at 28,185.95, while NSE Nifty hit its 52-week high by crossing 8,700. It was trading 25.35 points up at 8,708.50 during the same time. Wockhardt stocks were down 11 per cent  

9.09 am: In pre-markets session, Sensex is trading 103.57 points up at 28,181.92, while NSE Nifty is trading 29.70 points up at 8,712.85.  

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The BSE Sensex and NSE Nifty may open on a firm note on Monday tracking SGX Nifty, an indicator of how domestic markets will start the day. At 7.33 am, SGX Nifty was trading 49.50 points up at 8,752. On Friday, Sensex closed 363.98 points up at 28,078.35, while Nifty50 index settled 132.05 points up at 8,683.15.

Market Weekly :Sensex, Nifty End Flat

Markets weekly: Sensex, Nifty end flat; HCL Tech surges 9%, ICICI Bank falls 6%  

Benchmark indices BSE Sensex and NSE Nifty ended the week flat amid muted global cues. Market participants overlooked the approval of GST Constitutional Amendment Bill in the Rajya Sabha on Wednesday. The widely-tracked Nikkei purchasing managers’ index (PMI) which inched up to 51.8 points in July against 51.7 in the previous month also failed to support market sentiments. For the week ended August 8, the 30-share index Sensex closed 26.49 points up at 28078.35 against 28051.86 on July 29. NSE Nifty index jumped 44.65 points, or 52 per cent to 8683.15 from 8638.50 during the week. The Friday’s rally helped markets to pare all their losses and post gains for the week. Sensex gained 363.98 points on Friday.

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HCL Technologies, Hindalco Industries, Hero MotoCorp, Grasim Industries and Tata Steel gained 8.98 per cent, 7.82 per cent, 7.68 per cent, 7.47 per cent and 7.25 per cent, respectively, and stood among top gainers in the Nifty 50 pack for the week ended August 5. However, ICICI Bank, BHEL, Lupin, Larsen & Toubro and Aurobindo Pharma skid 6.43 per cent, 5.83 per cent, 3.99 per cent and 2.84 per cent in the past five trading sessions.

According to a corporate database Ace Equity, foreign institutional investors (FIIs) stood net buyers in equity segment for the week ended August 5 with gross purchases of Rs 21,370.86 crore and gross sales of Rs 19,630.27 crore, leading to a net inflow of Rs 1,740.59 crore. They stood as net sellers in the debt segment with gross purchases of Rs 4,340.62 crore against gross sales of Rs 6,410.31 crore, resulting in a net outflow of Rs 2,069.69 crore. During the week, Indian rupee appreciated by 22 paise to 66.81 on August 5 from 67.03 on July 29.

Nifty 50 August Futures

Nifty 50 August Futures (8,686) 

The August month Nifty Index futures started the session on a marginally positive note at 8,708, up slightly from its previous close at 8,701. After recording an intraday high at 8,744.7, the contract began to decline, experiencing selling pressure. The contract has breached a key immediate support at 8,700 and registered an intraday low at 8,668.  

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Currently, the contract trades at around 8,686 levels, which is still at a 40 points premium to the Nifty 50 Index, which is trading at 8,646. Traders with a short-term perspective should tread with caution as long as the contract trades above 8,670. An emphatic fall below this level can strengthen the bearish momentum and pull the contract down to 8,650 and then to 8,630 levels. In that case traders can initiate fresh short positions while maintaining a stop-loss at 8,680 levels.  

On the other hand, a strong rally beyond 8,700 will reinforce the uptrend and push the contract higher to 8,725 and then to 8,745 levels.