Sensex soars over 200 pts, Nifty reclaims 7800; BHEL up 2%-- 3 Sep 2015

Tata Motors, Tata Steel, M&M, Hindalco and ICICI Bank are top gainers while HUL, Coal India, TCS, GAIL and Lupin are among laggards.

                                 

The market is surging ahead firmly as the Sensex is up 263.07 points or 1 percent at 25716.63. The Nifty is up 86.60 points or 1 percent at 7803.60. About 1303 shares have advanced, 358 shares declined, and 40 shares are unchanged. Tata Motors, Tata Steel, M&M, Hindalco and ICICI Bank are top gainers while HUL, Coal India, TCS, GAIL and Lupin are among laggards. Meanwhile, monsoon rains are likely to be below the prior forecast of 88 percent of the long-term average, the weather office chief said, which could make it the driest year since 2009 and worsen rural distress by cutting farm output. The July-September rains irrigate nearly half of India's farmlands, bringing relief to millions of poor farmers who till small plots of land to sustain their families. This would be the second straight year of drought- or drought-like conditions for only the fourth time in 115 years, which is another setback for Prime Minister Narendra Modi struggling to win over political opposition to pass reforms and unshackle Asia's third-largest economy.

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Sensex up over 150 pts, Nifty opens above 7750; banks lead -- 3 Sep 2015

The Indian rupee has opened lower by 6 paise at 66.25 per dollar today against previous day's closing of 66.19.

                                     

The market has started off Thursday's session on a strong note, led by short covering following weakness in previous three consecutive sessions. The 30-share BSE Sensex rallied 161.13 points or 0.63 percent to 25,614.69 and the 50-share NSE Nifty climbed 56.85 or 0.74 percent to 7,773.85.ICICI Bank, HDFC Bank, L&T, Infosys and HDFC are leading contributors to Nifty. The Indian rupee has opened lower by 6 paise at 66.25 per dollar today against previous day's closing of 66.19. Mohan Shenoi of Kotak Mahindra Bank said, "Currency markets remain volatile as concerns about China continue to impact all markets. ECB rate setting meeting later today and US Payroll data tomorrow will determine the near-term direction of the market." "With RBI presence in the market, USD-INR is expected to trade today in a range of 66-66.40/dollar," he added. On the global front, the US market rallied over 1 percent to end near session highs. Nasdaq outperformed, pulling out of correction territory. Asian markets, too, are positive on a strong positive US handover. The Nikkei was up almost 1.5 percent in early trade but still down 4 percent for the week. European Central Bank (ECB) decision is due today. No major policy changes are expected to be announced by the central bank's president Mario Draghi, but he may stress that extra support in the future is possible. In other asset classes, the dollar gained as global stock markets steadied and US hiring data encouraged speculation that the Federal Reserve policymakers will raise interest rates later this month. Nymex crude prices rose over 2 percent overnight to USD 46 per barrel, recovering some earlier losses as refined products' data supported prices. Brent is currently trading above the USD 50 mark. And precious metal gold continued to trade around USD 1130 per barrel.

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Rupee opens lower at 66.25 per dollar -- 3 Sep 2015

With RBI presence in the market, USD-INR is expected to trade today in a range of 66-66.40/dollar, says Mohan Shenoi of Kotak Mahindra Bank.

                           

The Indian rupee has opened lower by 6 paise at 66.25 per dollar on Thursday against previous day's closing of 66.19.With RBI presence in the market, USD-INR is expected to trade today in a range of 66-66.40/dollar,"

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Gold rates today: Latest updates on gold prices -- 2 Sep 2015

Gold prices gained in major metros of India on Wednesday. In Delhi market, prices of 24-carat gold per 10 gram were up by Rs 80 at Rs 27000 and rates of 22-carat were up by Rs 70 at Rs 25490.

                                     

Gold edged lower on Wednesday with appetite for the metal soured by a firmer dollar despite weaker Asian equities, and failure to breach a key resistance and a looming US rate hike suggest more downside risk, reported Reuters. Gold prices on MCX were trading lower on Wednesday. At 13:37 hrs MCX Gold October contract was trading at Rs 26794 down Rs 39, or 0.15 percent. The Gold rate touched an intraday high of Rs 26825 and an intraday low of Rs 26681. So far 5932 contracts have been traded. Gold prices have moved up Rs 641, or 2.45 percent in the October series so far.

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Nifty opens above 7800, Sensex up over 100 pts; Lupin gains-- 2 Sep 2015

Lupin, Axis Bank, ICICI Bank, Sun Pharma and Hindalco are top gainers in the Sensex.


                                                         

After sharp cuts yesterday, the market has opened higher. The Sensex is up 148.78 points or 0.6 percent at 25845.22 and the Nifty is up 44.20 points or 0.6 percent at 7830.05. About 570 shares have advanced, 135 shares declined, and 34 shares are unchanged. Lupin, Axis Bank, ICICI Bank, Sun Pharma and Hindalco are top gainers in the Sensex.Among the losers are Hero, ONGC, Bajaj Auto, NTPC and Tata Motors. The Indian rupee declined in early trade. It has opened lower by 10 paise at 66.32 per dollar against 66.22 a dollar on Tuesday. Himanshu Arora, Religare feels the rupee is expected to trade slightly weak today amid a slew of negative data releases from US to China. He says the range for rupee today is seen between Rs 65.95-66.60/USD. Dollar slipped against the yen and the euro as the fall in equity markets forced investors to unwind well established trades, sending the euro and safe-haven yen higher. Meanwhile, mainland shares led losses in Asia, tracking offshore losses driven by persisting concerns over the health of China's economy. However, Japan's Nikkei 225 index managed to stage a rebound by mid-morning trade, probably inspired by the near 1 percent rises in the S&P 500 futures and Dow futures in early Asian trade. Wall Street ended in correction territory overnight, with the major averages closing down nearly 3 percent in their third-largest daily decline for 2015. In their worst start to September in 13 years, the Dow Jones Industrial Average and S&P 500 had their worst first-of-the-month trading day of a month since March 2009. The tech-heavy Nasdaq had its worst first trading day since October 2011. Crude prices declined sharply with Nymex crude sliding to 44 dollars a barrel. Also a report showed US crude stocks rose last week. In the precious metals space, gold prices remained steady at around USD 1130 an ounce.


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Nifty & Bank Nifty Fut Levels for today :: 2 Sep 2015

Nifty Future::
Trend::Consolidate
Pivot Level:7831
Support:7717/7636/7522
Resistance:7912/8026/8107

Bank Nifty Future::
Trend::Consolidate
Pivot Level:16677
Support:16330/16107/15760
Resistance:16900/17247/17470
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Rupee opens lower by 10 paise at 66.32 per dollar -- 2 Sep 2015

The rupee is expected to trade slightly weak today amid a slew of negative data releases from US to China, says Himanshu Arora of Religare.

                                       

The Indian rupee declined in early trade on Wednesday. It has opened lower by 10 paise at 66.32 per dollar against 66.22 a dollar on Tuesday.

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