Market News
Earnings boost, ITC rebound helps Sensex gain 240 points; Nifty reclaims 9,900; pharma stocks rally
Abhijeet Singh | July 19, 2017 4:29 PM
Sensex rallied over 240 points to close beyond 31,900 level while the broader Nifty 50 managed to end above 9,900. Cigarette maker ITC rebounded from yesterday’s share slump while the shares of domestic drug makers gained on hopes of US FDA approvals.
IDFC Shriram merger: What’s in it for shareholders?
FE Online | July 19, 2017 5:48 PMWhile it’s the expanded size of the combined entity and the lure of entering into the banking services, which seems to be driving Shriram Capital, for IDFC, the rationale seems to lay in the benefit of gaining a footprint in the south Indian markets.
Mastek shares gain 20% in a day but investors must not cheer yet
FE Online | July 19, 2017 3:18 PMBajaj Finance is up 80% this year, but its long term returns are even more amazing
FE Online | July 19, 2017 3:44 PMGST cess hike on cigarettes: Govt lost in ITC stakeholding in a day what it will gain in revenue in a year
FE Online | July 19, 2017 11:48 AMA small non-Nifty pharma stock on steroids, as giants Sun Pharma, Lupin, Cipla unwell
FE Online | July 19, 2017 12:39 PMAurobindo Pharma shares jump 8% after US FDA approves kidney drug
FE Online | July 19, 2017 12:06 PM-
Dow, S&P 500, Nasdaq end at new records
AFP | July 20, 2017 6:52 AMWall Street stocks jumped to fresh records Wednesday on higher oil prices, better-than- expected housing data and mostly solid earnings reports.
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Non-food bank credit growth at 4-month high
FE Bureau | July 20, 2017 3:44 AMGrowth in non-food bank credit rose to a four-month high of 7.26% year-on-year (y-o-y) during the fortnight ended July 7 from 6.71% in the previous fortnight, clocking a fourth straight fortnight of positive growth. The corresponding figure in the year-ago period was 9.44%.
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BSE Realty index trades at three-year high, posts best return in 2017 so far
FE Bureau | July 20, 2017 3:23 AMMarket watchers said apart from the attractive valuation, measures such as Real Estate (Regulation and Development) Act, 2016 (RERA) and the government’s thrust
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Modi’s giant oil PSU plan takes shape as Cabinet approves ONGC HPCL merger
FE Online | July 19, 2017 7:26 PMThe government’s plan to build a mega oil PSU of global scale got a shot in the arm today with the Union Cabinet clearing the proposed acquisition of state-run refiner and marketer HPCL by the oil exploration and production giant ONGC.
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Government refiners to buy less Iran oil in 2017/18: Oil minister Dharmendra Pradhan
Reuters | July 19, 2017 7:07 PMIndia’s state refiners plan to buy less Iranian oil in 2017/18 compared with the last fiscal year, Oil Minister Dharmendra Pradhan said on Wednesday.
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Qatar’s $300 billion forex reserves: How much can it use to defend its currency?
Reuters | July 19, 2017 6:53 PMWhen is $300 billion not enough? That question is key to Qatar’s future as some bankers and hedge funds speculate the super-rich state’s vast financial reserves may not be liquid enough to defend its currency in the long term.
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IDFC Shriram merger: What’s in it for shareholders?
FE Online | July 19, 2017 5:48 PMWhile it’s the expanded size of the combined entity and the lure of entering into the banking services, which seems to be driving Shriram Capital, for IDFC, the rationale seems to lay in the benefit of gaining a footprint in the south Indian markets.
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Earnings boost, ITC rebound helps Sensex gain 240 points; Nifty reclaims 9,900; pharma stocks rally
Abhijeet Singh | July 19, 2017 4:42 PMSensex rallied over 240 points to close beyond 31,900 level while the broader Nifty 50 managed to end above 9,900. Cigarette maker ITC rebounded from yesterday’s share slump while the shares of domestic drug makers gained on hopes of US FDA approvals.
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Bajaj Finance is up 80% this year, but its long term returns are even more amazing
FE Online | July 19, 2017 3:59 PMThe Bajaj finance stock which has returned nearly 80% on a year-to-date basis, added to the investor returns further today, rising as much as 2% after posting a good set of fiscal first quarter financial results.
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Sebi orders Singhania Media to return clients’ money
PTI | July 19, 2017 3:25 PMMarkets regulator Sebi has asked Singhania Media Solution to return the money received from clients as fees in respect of its unregistered investment advisory activities.
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Mastek shares gain 20% in a day but investors must not cheer yet
FE Online | July 19, 2017 3:18 PMMastek shares are on fire today, surging 20% from the previous close and locked in the upper circuit at Rs 358.8, on the back of a quantum jump in first quarter financial earnings. Revenue for the April-June quarter rose to Rs 188 crore, up 41% from that in the same quarter a year ago.
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Anti-dumping duty likely on certain type of synthetic rubber
PTI | July 19, 2017 2:48 PMThe government may impose anti- dumping duty of up to $266 per tonne on a certain type of rubber, used in items like footwear and conveyor belts, from EU, Korea and Thailand.
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Earnings booster to markets: Sensex gains over 200 points, Nifty nears 9,900 again; Mastek jumps 20%
Abhijeet Singh | July 19, 2017 2:29 PMDomestic markets are trading higher today on the back of earnings optimism with the benchmark Sensex gaining over 200 points to climb above 31,900. First quarter corporate earnings boost the markets further with shares rising up to 20% after announcing results.
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What North Korean rocket? South Korean Won, Asia’s top performing currency, is missile proof
Bloomberg | July 19, 2017 2:01 PMAfter three years of losses against the dollar, South Korea’s won didn’t begin 2017 looking like a winner — with the US raising interest rates and tensions rising with its nuclear-armed neighbor.
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Cadila shares on steroids; ease pharma pain as giants Sun Pharma, Lupin, Cipla languish
FE Online | July 19, 2017 1:14 PMGiven the current regulatory issues such as the USFDA, it comes as no surprise that the Pharma Sector in India has posted unhealthy returns.
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Hindustan Unilever shares up over 3% after Q1 earnings
PTI | July 19, 2017 12:29 PMShares of FMCG major Hindustan Unilever today rose by more than 3% after the company reported an over 9% rise in standalone net profit for the April-June period.
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Gold futures up Rs 134, silver climbs Rs 337 a kg on positive global cues
PTI | July 19, 2017 12:29 PMGold futures were up by Rs 134 to Rs 28,254 per 10 grams as traders raised bets amid positive cues from global markets and silver prices spurted by Rs 337 to Rs 38,360 per kg in futures trading today as participants widened their positions, tracking a firm trend in global market.
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Tobacco stocks rebound after sharp plunge; ITC jumps 2.5%
PTI | July 19, 2017 12:27 PMTobacco stocks today bounced back rising by up to 3 per cent on value buying, a day after a sharp plunge in the wake of higher cess. The stock of ITC made a positive opening and gained 2.56 per cent to Rs 291.90 on the BSE.
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Aurobindo Pharma shares jump 8% after US FDA approves kidney drug
FE Online | July 19, 2017 12:06 PMShares of the Indian drugmaker, Aurobindo Pharma rose as much as 8% today after getting US FDA approval for its chronic kidney disease drug. The Nifty Pharma index rose as much as 1.8% to its highest since May 19.
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GST cess hike on cigarettes: Govt lost in ITC stakeholding in a day what it will gain in revenue in a year
FE Online | July 19, 2017 11:48 AMYesterday’s drastic fall in ITC’s shares, after the GST Council hiked the cess on cigarettes under GST, seems to have ended up wiping in just a day all the gains that would accrue to the government from the additional revenue in one year.
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Foreign Institutional Investors buy shares worth Rs 450 crore in Reliance Capital
PTI | July 19, 2017 11:17 AMSumitomo Mitsui Trust Bank of Japan (SMTB) today sold Reliance Capital shares worth USD 70 million (around Rs 450 crore) to foreign investors through open market transaction, sources said.
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Retail investors’ love for direct stock investment beats mutual funds: Survey
PTI | July 19, 2017 10:11 AMMost retail investors prefer equities over other asset classes to park funds and play in the market only when they have surplus cash, says a survey. About 83.45 per cent invest directly into equities, while 59.25 per cent do so only when they have surplus money and that too only in equities.
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Mega oil PSU merger inches ahead: ONGC-HPCL deal on Cabinet agenda today
FE Online | July 19, 2017 10:06 AMONGC’s proposed Rs 29,000-crore acquisition of the government’s entire 51% equity stake in HPCL will likely be discussed at the Union Cabinet meeting later today.
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Market update: Sensex trades firm, Nifty eyes 9,900 in opening trade as ITC shares rebound; rupee weak
FE Online | July 19, 2017 10:29 AMIndian stock markets open strong ahead of the earnings as the investors remain optimistic about the first quarter performance of the Indian companies. BSE Sensex opened 172 points higher at 31,827.83 points. The rupee turned weak by 2 paise to 64.35 against the US dollar.
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Gold steady near highest in over two weeks on weaker dollar
Reuters | July 19, 2017 7:28 AMGold prices held steady on Wednesday after hitting their highest in over two weeks in the previous session, buoyed as the dollar hovered near ten-month lows.
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Donald Trump failure on healthcare sends dollar to 10-month low
Reuters | July 18, 2017 7:36 PMThe US dollar sank to a 10-month low against a basket of major currencies on Tuesday, as the collapse of President Donald Trump’s latest healthcare bill eroded confidence in his ability to legislate to boost growth.
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Goldman Sachs’ bond trading revenue slumps 40 percent
Reuters | July 18, 2017 7:30 PMGoldman Sachs Group Inc reported a 40 percent slump in bond trading revenue, mirroring a broader weakness in trading activity that has plagued big US banks in the latest quarter.
Horoscope: By Peter Vidal
SAGITTARIUS Your creative energy should now be at a peak, but not perhaps because the stars are all on your side. On the contrary, challenging romantic stars remind us of the cliché that all great art stems from… read more
