Tuesday, 13 December 2016

Live Stock Market Updates – Sensex, Nifty volatile ahead of US Fed Meet

The S&P BSE Sensex is trading at 26568 up 52 points, while NSE Nifty is trading at 8,179 up 9 points.

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Sensex and Nifty are choppy in the morning trading hours. Indian market is cautious ahead of the US Federal Reserve's Monetary Policy meet to be held today. Also, the domestic Consumer Price Inflation data will be released today. Tata Motors stocks were trading higher by 3% the leading stock in Auto segment which witnessed good rebound as compared to yesterday. Consumer Durables and Oil & Gas sectors also witnessing some traction in first hour of trading.

Asian markets opened flat after a weak start to the week saw most indices close in the red on Monday. The sharp rally in crude combined with US 10 year bond yields crossing 2.5% saw weakness again creep up in the emerging markets basket. The Dow Jones continues its unprecedented rally as money chases US stocks, ETF's & bonds.

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Asian indices were mixed tracking weak cues from the US, and as investors chose to await the outcome of the US Federal Reserve's monetary policy statement as gains led by rise in oil prices petered out. Japanese shares had declined as investors took profits after a recent rally that had taken shares to their highest level in a year. Focus will also on China as the numerous data is going to be released including Chinese industrial output, retail sales and fixed asset formation numbers. This will determine the next moves to be made by the investors who will evaluate the stability of the country and its economy.
 
The S&P BSE Sensex is trading at 26568 up 52 points, while NSE Nifty is trading at 8,179 up 9 points. A total of 13 stocks registered a fresh 52-week high in trade today, while 9 stocks touched a new 52-week low on the NSE.

Out of 1873 stocks traded on the NSE, 652 declined, 809 advanced and 412 remained unchanged today.

The BSE Mid-cap Index is trading down 0.12% at 12381.25, whereas BSE Small-cap Index is trading down 0.11% at 12244.36.

Some buying activity is observed in Auto, Consumer Durables, Oil & Gas sectors, while Metal, Bank, Basic Materials, Realty, Finance, Pharma are showing weakness on BSE.

Tata Motors, Tata Motors DVR, Wipro, Infratel, BPCL, Maruti, Reliance are among the gainers, whereas Hindalco, Zee, Grasim, Ultra Cement, Lupin, Tata Steel, BHEL, ACC are losing sheen on NSE.


Noteworthy stocks:

Malvinder and Shivinder Singh in talks with TPG Capital to sell 26% in India's Fortis Healthcare.

Bank of Baroda is in talks to buy a majority stake in Cent Bank Home Fin (CBHFL).

After agreeing to a deal to sell 3.9% stake in SBI Life Insurance, its joint venture with BNP Cardiff, State Bank of India will begin the process for re-valuation of the arm, for a plan to sell a further 10% stake to the partner.

Tata Motors said it will hike the prices of its passenger vehicles by up to Rs 25,000 from next month in order to offset the increased input costs.

Natco Pharma has launched generic Tamiflu capsules, used for the treatment of influenza, in the American market after the final nod from the US health regulator in Aug 2016.

Alkem Laboratories said the US health regulator has issued three observations after inspection of the company’s API facility at Ankleshwar in Gujarat.

Axis Bank slammed a regional newspaper report stating authorities were preparing to revoke the bank's license as "false and malafide", saying it had strong systems and controls in place as per central bank rules.

Sun Pharma and Moebius Medical have entered into an exclusive worldwide licensing deal to further develop MM-II, a novel pharmaceutical candidate for the treatment of pain in osteoarthritis.

Glenmark's US business has received a boost with the launch of generic version of cholesterol drug Zetia in that market.

Morgan Stanley will buy 50mn shares (1.73% stake) in Tata Motors on behalf of an undisclosed client. The shares will be bought at an upper cap of Rs 499.8, nearly 10% premium to last closing price of Rs 454.55. At the top end, the deal size translates into Rs 25 bn.

Petroleum and Natural Gas Regulatory Board (PNGRB) last week gave GAIL four more years till February 2019 to complete the 1104 km Kochi-Koottanad-Bengaluru-Mangaluru natural gas pipeline. The Rs 44.93 bn project was originally to be completed in March 2013.






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