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Jun 22, 2018 3:33 PM

Market advances in close, Nifty reclaims 10,800.

The market advanced in the close with the BSE Sensex closing at 35,685 points and the NSE Nifty closing at 10,822 points ahead of the OPEC meet outcome. IDBI Bank gained more than two percent in trade after the LIC stake deal buzz. Bajaj Finance, Sun Pharma, Bajaj Finserv, Bharti Infratel and M&M were the top Nifty gainers while HPCL, Reliance, Eicher Motors, UPL and IndusInd Bank were the top Nifty losers.

Jun 22, 2018 3:33 PM

Recap: Rakesh Jhunjhunwala talks about Modi, elections, his big bets and banking sector.##Recap: Rakesh Jhunjhunwala talks about Modi, elections, his big bets and banking sector.

When Rakesh Jhunjhunwala says something, the market sits up in rapt attention.

Jhunjhunwala, often dubbed as India’s Warren Buffett, made his billions from equity investments, and his stock picks are closely tracked by India’s retail and institutional investors.

Read the full interview here

Jun 22, 2018 3:14 PM

Oil prices rise ahead of OPEC meet outcome.##Oil prices rise ahead of OPEC meet outcome.

Oil prices rose more than 1 percent on Friday as OPEC tried to agree a deal to increase output to compensate for losses in production at a time of rising global demand.

Benchmark Brent crude was up $1.05 a barrel at $74.10 by 0925 GMT. U.S. light crude was 80 cents higher at $66.34.

The Organization of the Petroleum Exporting Countries is meeting in Vienna together with non-OPEC oil producers to discuss output policy.

Saudi Arabia and Russia want to raise output, but some other OPEC members, including Iran, have opposed this.

Analysts expect OPEC to announce an increase in production of 500,000 to 600,000 barrels per day (bpd), which would help ease tightness in the oil market but would not be enough to create a glut.

(From Reuters)

Jun 22, 2018 3:04 PM

Market trades higher; Sensex gains 200 points, Nifty at 10,800

The market is trading higher with the BSE Sensex trading at 35,638 points and the NSE Nifty is trading at 10,803 points ahead of the OPEC meet outcome. IDBI Bank continues to gain more than a percent after the LIC stake deal buzz. Fortis is gaining nearly three percent in trade ahead of declaring its earnings on Monday.

Jun 22, 2018 2:54 PM

COAI favours 5G auctions only around second half of 2019.##COAI favours 5G auctions only around second half of 2019.

Telecom industry body COAI has said the auction of spectrum for 5G services should happen only around the second half of 2019 as it would offer telcos better visibility into market dynamics and potential revenue streams of the next-generation mobile services.

(From PTI)

Jun 22, 2018 2:38 PM

Apex Frozen Foods is on Sebi's ASM list. Watch the video for more details.

Jun 22, 2018 2:22 PM

Fortis gains three percent ahead of earnings on Monday. Check out the stock trend.

Jun 22, 2018 2:18 PM

European shares set for worst week in three months as trade worries bite.##European shares set for worstweek in three months as trade worries bite.

Strong financials stocks and better-than-expected French economic data helped drive a timid relief bounce in European shares at the end of a tumultuous week marred by trade war worries.

The pan-European STOXX 600 and its euro zone counterpart were set for their biggest weekly loss in three months as the realities of rising global protectionism sank in, particularly for the autos sector.

French business activity was stronger than expected in June as a better services sector compensated for weaker manufacturing.

Investors were also keeping an eye on German and euro area PMIs out this morning.

The STOXX was up 0.3 percent by 0730 GMT, while Germany's DAX rose 0.2 percent.

Banks drove the lion's share of gains after the 35 largest US banks cleared the first stage of the Federal Reserve's annual stress test.

(From Reuters)

Jun 22, 2018 2:05 PM

Just in: Company's shares are not on the ban list of RBI, Ujjivan Finance said.

Jun 22, 2018 1:56 PM

Euro zone business growth recovers but manufacturing slows: PMI##Euro zone business growth recovers but manufacturing slows: PMI

Euro zone private business growth recovered in June and rounded off the second quarter growing at a better-than-expected clip, bolstered by services firms, but manufacturing growth was the weakest in 18 months on trade worries, a survey showed.

News of faster expansion alongside rising price pressures will be welcomed by policymakers at the European Central Bank after it signaled last week that its crisis-era bond buying programme will end this year and rates would rise in 2019.

IHS Markit's Euro Zone Composite Flash Purchasing Managers' Index (PMI), seen as a good guide to economic health, climbed in June to 54.8 from 54.1 in the previous month and above 53.9 predicted in a Reuters poll. Anything above 50 indicates growth.

The composite output price index climbed to a four-month high of 53.8 from 53.2. That followed news last week that official euro zone inflation rose to 1.9 percent in May, very close to the ECB's 2 percent target ceiling.

(From Reuters)

Jun 22, 2018 1:47 PM

Market recovers from lows, Nifty above 10,760

The market has recovered from lows with the BSE Sensex trading at 35,511 points and the NSE Nifty trading at 10,763 points ahead of the OPEC meet outcome. The market has remained volatile in trade throughout the day. IDBI Bank continues to gain over two percent after reports that the government is considering to sell 40-43 percent bank's stake to LIC.

Jun 22, 2018 1:32 PM

2018 is a year for stock pickers: Motilal Oswal AMC.##2018 is a year for stock pickers: Motilal Oswal AMC

Markets are better for stock pickers in 2018, said Aashish Somaiyaa, MD and CEO of Motilal Oswal AMC.

"We are stock pickers and when the markets gains this huge momentum, high beta, deeply value contrarian kind of rally then it becomes very difficult for people like us who are basically owning 15-20 stocks bottom up high conviction," he said.

He sees last year as a challenging year.

“As far as performance is concerned, 2017 has been bit of a challenging. It has not been widely spoken about or well covered actually. 2017 was a unique year because Nifty was up by 28-29 percent. I think the midcap index was up by 48-49 percent and smallcap was up by something like 57 percent and then instead of Calendar year 2017 if you extended it by 15 days on both side the peak of January 2018 or the bottom of demonetisation in December 2016 then these numbers get hugely exaggerated.”

Watch the video here

Jun 22, 2018 1:19 PM

Market update: Sensex, Nifty remain volatile in trade ahead of OPEC meet outcome.

The Indian market is volatile ahead of a key OPEC meeting in Vienna which could cut a deal to raise production to stem rising oil prices. The Asian markets remained subdued as the US-China trade tensions seemed to escalate. The 30-share benchmark S&P BSE Sensex was trading at 35,466 points and the broader 50-share NSE Nifty 50 was trading at 10,753 points.

Jun 22, 2018 12:59 PM

Oil update: Oil rises ahead of OPEC meeting while trade disputes loom over markets.##Oil update: Oil rises ahead of OPEC meeting while trade disputes loom over markets.

Oil prices rose by more than 1 percent on Friday, lifted by uncertainty over whether OPEC would manage to agree a production increase at a meeting in Vienna later in the day.

Brent crude oil futures were at $74.02 per barrel at 0645 GMT, up 97 cents, or 1.3 percent, from their last close.

US West Texas Intermediate (WTI) crude futures were at $66.37 a barrel, up 84 cents, or 1.3 percent.

The Organization of the Petroleum Exporting Countries (OPEC), a producer cartel with top exporter Saudi Arabia as the de facto head, is meeting together with non-OPEC members including No.1 producer Russia at its headquarters in the Austrian capital to discuss output policy.

Jun 22, 2018 12:47 PM

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