Rupee gains, opens at 65.17 per dollar ,-- 20 Aug 2015

The USD-INR pair is expected to trade today in a range of 64.90-65.20/dollar, says Mohan Shenoi of Kotak Mahindra Bank.

                             

The Indian rupee gained in the early trade on Thursday. It has opened higher by 10 paise at 65.17 per dollar against previous close of 65.27."Stability of Yuan at lower levels after a bout of near 5 percent depreciation has helped Asian currencies and rupee to stem further depreciation against dollar. The USD-INR pair is expected to trade today in a range of 64.90-65.20/dollar,"

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Nifty & Bank Nifty Fut Levels for today :: 20 Aug 2015

Nifty Future::
Trend::Consolidate
Pivot Level:8488
Support:8442/8380/8334
Resistance:8550/8596/8658

Bank Nifty Future::
Trend::Consolidate
Pivot Level:18739
Support:18641/18552/18454
Resistance:18828/18926/19015
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Sensex firm, Nifty consolidates; Reliance up, SBI falls -- 19 Aug 2015

Sun Pharma, Cipla, Lupin, Wipro and Reliance are top gainers while Hindalco, SBI, HDFC, Bharti and BHEL are losers in the Sensex.

                   

 Key indices recovered from morning lows to trade marginally higher with the Nifty above the 8450 mark led by gains in pharma, consumer durables and realty stocks. The Sensex is up 90.83 points at 27922.37 and the 50-share index is up 24.45 points at 8491. About 1386 shares have advanced, 851 shares declined, and 88 shares are unchanged. Sun Pharma, Cipla, Lupin, Wipro and Reliance are top gainers while Hindalco, SBI, HDFC, Bharti and BHEL are losers in the Sensex. Oil prices fell in Asia, giving up meagre gains in the previous session as investors await a US inventory report to gauge demand in the world's top economy. Analysts said prices were unlikely to stage a sustained rally because the market remains awash with supplies from the Organization of the Petroleum Exporting Countries (OPEC), led by Saudi Arabia. Oil traders are also watching a report on US crude inventories in the week ending August 14 due later Wednesday to measure demand in the world's biggest economy and large producer of shale oil.

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Sensex, Nifty choppy; Majesco debuts at Rs 316, Cipla up 2% -- 19 Aug 2015

Majesco, the insurance subsidiary of Mastek, has opened at Rs 316 against previous close of Rs 438.05 on the National Stock Exchange. The stock rallied 5 percent to Rs 331.80 compared to its opening price.


                                 

The market continued to see selling pressure amid consolidation. The Sensex fell 31.86 points to 27799.68 and the Nifty declined 15.35 points to 8451.20, dragged by FMCG, HDFC twins, capital goods and select autos. However, technology and pharma gained strength on further weakness in rupee. The broader markets recouped early losses, up marginally. About 1068 shares have advanced, 792 shares declined, and 68 shares are unchanged on the Bombay Stock Exchange. Majesco, the insurance subsidiary of Mastek, has opened at Rs 316 against previous close of Rs 438.05 on the National Stock Exchange. The stock rallied 5 percent to Rs 331.80 compared to its opening price. Cipla and Sun Pharma topped the buying list, up more than 2 percent followed by ICICI Bank, Lupin, Reliance Industries, Infosys, Wipro, Dr Reddy's Labs, Tata Motors, TCS and Vedanta with 0.2-1 percent upside. However, Bharti Airtel plunged nearly 3 percent. HDFC Bank, HDFC, ITC, Larsen & Toubro, Axis Bank, M&M, HUL, Hindalco and Coal India declined 0.5-1 percent.


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Sensex, Nifty open tepid; rupee at 2-yr low, pharma up -- 19 Aug 2015

The Indian rupee has touched a fresh two-year low in early trade. It has opened lower by 10 paise at 65.40 per dollar on Wednesday against Monday's closing value of 65.32 a dollar. The currency market was shut on Tuesday.

                                                   

It is a quite start of trade as global markets see sharp cuts. The Sensex is down 10.32 points at 27821.22 and the Nifty is up 0.75 points at 8467.30. About 359 shares have advanced, 207 shares declined, and 34 shares are unchanged. ONGC, Hero, SBI, Tata Steel and Coal India are major laggards while Dr Reddy's Labs, Cipla, Wipro, Infosys and Sun Pharma are top gainers in the Sensex. The Indian rupee has touched a fresh two-year low in early trade. It has opened lower by 10 paise at 65.40 per dollar on Wednesday against Monday's closing value of 65.32 a dollar. The currency market was shut on Tuesday. Ashutosh Raina of HDFC Bank said, "The impact of the Chinese Yuan depreciation is still being felt across global markets. The USD-INR currency pair has been no exception with the pair finally breaching the psychological 65/dollar figure tracking other Asian peers." The dollar rose, getting a lift from data showing US housing starts neared an eight-year peak, which raised expectations that the Fed will raise interest rates as soon as next month. China stocks continued their sell-off following a whopping 6 percent plunge in the previous session, underscoring that it won't be an easy return to good times for the country's equity market. The market plunge yesterday was attributed to traders cutting back on expectations of more stimulus for the economy - on the back of better housing market data – and support for the stock market – after the China Securities Finance Corporation said it would not intervene further in the market unless there was unusual volatility and systemic risk. Tumble in Chinese shares and weak earnings from Walmart pressured US stocks and copper prices saw six year lows. Investors will look to US inflation data and minutes of last month's Federal Reserve monetary policy meeting on Wednesday, as they seek for further clues as to when the Fed will begin raising interest rates. Oil prices fell again after a brief rise in the previous session, as the United States enters the lower demand autumn season and Asia's leading economies slow down.

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Rupee hits fresh 2-year low, opens lower at 65.42/$ - 19 Aug 2015

Expect USD-INR to trade between the 65-65.50/dollar range. RBI is expected to support the currency and limit the volatility, says Ashutosh Raina of HDFC Bank.

             

The Indian rupee has touched a fresh two-year low in early trade Wednesday. It has opened lower by 10 paise at 65.40 per dollar on Wednesday against Monday's closing value of 65.32 a dollar. The currency market was shut on Tuesday."Expect the pair to trade between the 65-65.50/dollar range. RBI is expected to support the currency and limit the volatility,"

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Sensex loses steam, Nifty below 8500; Shanghai falls 5% -- 18 Aug 2015

China's Shanghai Composite index tanked 5 percent, leading led losses in Asia as nerves over China's struggling economy and a deadly bomb explosion in Thailand sent investors scrambling for safety.

                             

The market lost its early momentum as banking & financials and metals & mining saw profit taking after sudden fall in Chinese market. However, technology stocks gained. The 30-share BSE Sensex fell 88.56 points to 27789.71 and the 50-share NSE Nifty declined 30.20 points to 8447.10. About 1362 shares have advanced, 1084 shares declined, and 155 shares are unchanged on the BSE. China's Shanghai Composite index tanked 5 percent, leading led losses in Asia as nerves over China's struggling economy and a deadly bomb explosion in Thailand sent investors scrambling for safety. Infosys gained 1.9 percent as BNP Paribas gave thumbs up to the company after investor meetings with the CFO. The brokerage maintained its buy rating with the target price raised to Rs 1,320 on the back of a Q1 beat and a weaker rupee. TCS, too, rallied 1.9 percent. Moody's cut India's 2015 GDP forecast to 7 percent in light of a drier than average monsoon. The agency, however, retained its 2016 GDP forecast to 7.5 percent. 

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