Wednesday, 31 January 2018

The Indian Rupee Opened Lower At 63.67 Per Dollar On Wednesday

The Indian rupee opened lower at 63.67 per dollar on Wednesday versus previous close 63.60.

Pramit Brahmbhatt of Veracity said, "On the back of negative cues from domestic equity market, the rupee will remain under pressure."

"We expect the USD-INR pair to trade in a range of 63.50-64," he added.

Asia stocks eased on Wednesday, pulling further back from record highs, as the recent rise in global bond yields weighed on equities.

MSCI's broadest index of Asia-Pacific shares outside Japan added to the previous day's losses and dipped 0.1 percent, after reaching a record high on Monday.

Australian stocks shed 0.4 percent, South Korea's KOSPI lost 0.3 percent and Japan's Nikkei dropped 0.3 percent.

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The Market Began The Session On A Mildly Lower Note

The market began the session on a mildly lower note, with the Nifty holding 11,000-mark.

The Sensex is down about 25.75 points or 0.07% at 36,007.98, while the Nifty was down 9.90 points or 0.09% at 11039.80. The market breadth still continues to be negative as 413 shares advanced, against a decline of 639 shares, while 140 shares are unchanged.

Bharti Airtel, Tata Steel, and Indian Oil gained the most on both the indices, while Hindustan Unilever, Dr Reddy’s Laboratories and Indiabulls Housing were the top losers.

Midcaps continued to be weak, with the Nifty midcap index trading around 0.40 percent lower.

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Tuesday, 30 January 2018

Benchmark Indices Reversed Some Previous Day's Gains On Tuesday

Benchmark indices reversed some previous day's gains on Tuesday, driven by profit booking in technology, select private banks and index heavyweights ITC & Reliance Industries.

The 30-share BSE Sensex was down 82.24 points at 36,201.01 and the 50-share NSE Nifty fell 40.20 points to 11,090.20.

TCS, ICICI Bank, ITC, Reliance Industries, HDFC Bank, Infosys, L&T and Vedanta were early losers whereas Bajaj Auto, Hero Motocorp, Indiabulls Housing, GAIL, BPCL, NTPC and HPCL were gainers.

Ahead of earnings later today, TVS Motor Company and IOC gained half a percent while Godrej Consumer Products lost 0.6 percent.

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The Indian Rupee Slipped In The Early Trade On Tuesday

The Indian rupee slipped in the early trade on Tuesday. It has opened lower by 12 paise at 63.69 per dollar on Tuesday versus previous close 63.57.

Bhaskar Panda of HDFC Bank said, "The dollar index has been under pressure from the beginning of 2018. As a result, EM currencies have gained including the INR."

"Given the indications, the USD-INR pair is expected to remain in a range of 63.50-63.70 for today."
"The 10-year benchmark bond yield has remained elevated and will continue to remain so, given the global cues. I expect the benchmark yield to remain in a range of 7.43-7.46 percent for today," he added.

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Monday, 29 January 2018

The Rupee Was Trading Higher By 3 Paise At 63.51 Against The US Dollar

The rupee was trading higher by 3 paise at 63.51 against the US dollar in morning at the interbank foreign exchange market amid the greenback's gains in overseas markets.

The rupee opened lower by 5 paise at 63.60 today against the previous close of 63.55. A record opening in the domestic equity market capped the fall, dealers said.

On Thursday, the rupee had gained 14 paise to end at a fresh one-week high of 63.55 a dollar.

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Benchmark Indices Staged Smart Performance In Opening The First Day

Benchmark indices staged smart performance in opening the first day of Budget week as the Sensex and Nifty hit fresh record highs, tracking positive trend in Asian peers and ahead of Union Budget 2018.

The 30-share BSE Sensex was up 223.04 points or 0.62 percent at 36,273.48 and the 50-share NSE Nifty gained 51.60 points or 0.47 percent at 11,121.30. About 1,017 shares advanced against 373 declining shares on the BSE.

Maruti Suzuki jumped 3 percent after earnings and revision in royalty payment. ICICI Bank, Bharti Airtel, Dr Reddy's Labs, HPCL and BPCL fell 1-3 percent.

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Thursday, 25 January 2018

Indian Rupee Opens Higher 17 Paise At 63.52 Per Dollar

The Indian rupee gained in the early trade on Thursday. It has opened higher by 17 paise at 63.52 per dollar versus previous close 63.69.

Mohan Shenoi of Kotak Mahindra Bank said, "The US dollar continues to weaken further with dollar index at 3-year lows. The key trigger for weakness is a statement from the US Treasury secretary that a weaker dollar helps US exports."

"Oil prices above USD 70/bbl is a concern but has not impacted Indian equity markets and rupee so far. We expect the USD-INR to trade in a range of 63.40-63.70 for the day."

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Equity Benchmarks Continued To Consolidate In Opening On Thursday

Equity benchmarks continued to consolidate in opening on Thursday, ahead of expiry of January futures and options contracts.

The 30-share BSE Sensex was down 12.03 points at 36,149.61 and the 50-share NSE Nifty fell 4.30 points to 11,081.70. The market breadth was balanced as about 683 shares declined against 602 advancing shares on the BSE.

After PSU banks' recapitalisation amount announcement, SBI, PNB and Bank of Baroda were down 1-3 percent. However, IDBI Bank, Bank of India, UCO Bank, Central Bank of India, IOB, Union Bank, OBC, United Bank, Syndicate Bank, Bank of Maharashtra, Dena Bank and Corporation Bank rallied 2-10 percent.

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Wednesday, 24 January 2018

Asian Markets Traded Mixed Early On Wednesday After Wall Street Closed Mostly

Asian markets traded mixed early on Wednesday after Wall Street closed mostly higher as investors stateside focused on earnings releases.

US stocks advanced on Tuesday, as strong results from Netflix helped lift the S&P and Nasdaq Composite. Asian markets were trading mixed. The Nikkei 225 slipped 0.42 percent after the index hit a fresh 26-year high on Tuesday while the benchmark Kospi index rose 0.37 percent.

The Indian rupee opened higher by 4 paise at 63.73 per dollar on Wednesday against previous close 63.77.

Pramit Brahmbhatt of Veracity said, "There would be rangebound trade in the rupee in absence of any cues."

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The Benchmark Indices Opened Lower Amid Mixed Global Cues

The benchmark indices opened lower amid mixed global cues with Sensex holding above 36, 000 mark.

The Sensex was down 16.71 points at 36123.27, and the Nifty down 16.90 points at 11066.80. About 437 shares have advanced, 668 shares declined, and 163 shares are unchanged.

ITC, HDFC, Wipro, Maruti Suzuki, ONGC, GAIL, Indiabulls Hsg and Dr Reddy’s Labs are the top gainers on the indices, while top loser includes Bharti Airtel, ICICI Bank, Tata Motors, Reliance Industries, Tata Steel, Vedanta, Hindalco and Eicher Motors.

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Tuesday, 23 January 2018

The Indian Rupee Opened Lower At 63.90 Per Dollar On Tuesday

The Indian rupee opened lower at 63.90 per dollar on Tuesday versus previous close 63.87.

Bhaskar Panda of HDFC Bank said, "Any rally around or move above 64 is meeting with customer selling. For today, expect a range of 63.70-63.90 to hold."

"The yields of the Indian benchmark is trying to find a base just above 7.40 percent. Expect today's range between 7.44-7.48 percent, "he added.

Among global markets, Asian stocks advanced after US senators struck a deal to end a three-day government shutdown, sending Wall Street's main indexes to record highs and keeping the dollar well supported.

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Axis Bank Gained Around 2 Percent On The Back Of Its December Quarter Performance

Shares began the day on another strong note, with the Nifty hitting a fresh milestone of 11,000 in the first few minutes of trade. The Sensex gained over 100 points.

At 09:16 hrs IST, the Sensex is up 134.91 points or 0.38% at 35932.92, and the Nifty up 43.00 points or 0.39% at 11009.20. The market breadth was positive as 523 shares advanced, against a decline of 246 shares, while 152 shares are unchanged.

Axis Bank gained around 2 percent on the back of its December quarter performance.

BHEL, Coal India, IOC and Yes Bank gained the most, while Hero MotoCorp, Asian Paints, HUL, and Zee Entertainment were the top losers.

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Friday, 19 January 2018

Biocon Shares Gained 2 Percent After The Company And Sandoz A Division

Biocon shares gained 2 percent after the company and Sandoz, a division of Swiss-pharmaceutical major Novartis, said they have entered into a global partnership to develop, manufacture and commercialize multiple biosimilars in immunology and oncology for patients across the globe.

Under the terms of the agreement, both companies will share responsibility for end-to-end development, manufacturing and global regulatory approvals for a number of products and will have a cost and profit share arrangement globally.

Sandoz will lead commercialization in North America and the European Union, while Biocon will lead commercialization in the rest of the world.

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Equity Benchmarks Extended Gains In Opening On Friday

Equity benchmarks extended gains in opening on Friday, with the Nifty holding 10,800 level.

The 30-share BSE Sensex rose 65.36 points to 35,325.65 and the 50-share NSE Nifty gained 8.30 points at 10,825.30.

About 749 shares advanced against 637 declining shares on the BSE.

ITC, Kotak Mahindra Bank, HCL Technologies, HUL, Yes Bank, Adani Ports, Reliance Industries, Coal India and Eicher Motors were early gainers.

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Thursday, 18 January 2018

The Rupee Strengthened By 5 Paise In Opening But Immediately Turned Lower

The rupee strengthened by 5 paise in opening but immediately turned lower despite strong equity markets.

It was trading at 63.90 against the US dollar, down 2 paise from previous close. Besides, domestic equity markets soaring to new highs and the dollar losing sheen against some other currencies overseas also supported the local unit, traders said.

Yesterday, the rupee had rebounded by 16 paise to end at 63.88 against the US currency on bouts of dollar selling by exporters and banks.

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The 30-Share BSE Sensex Was Up 294.72 Points Or 0.84 Percent At 35,376.54

The 30-share BSE Sensex was up 294.72 points or 0.84 percent at 35,376.54 and the 50-share NSE Nifty gained 73.60 points or 0.68 percent at 10,862.10.

About 1,004 shares advanced against 308 declining shares on the BSE. Nifty Bank rallied nearly 600 points to hit a fresh record high after sources told CNBC-TV18 that the government is considering allowing 100 percent FDI in banking sector.

SBI, ICICI Bank, Yes Bank, HDFC Bank, Axis Bank, IndusInd Bank and Kotak Mahindra Bank gained 1-3 percent.

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Wednesday, 17 January 2018

Indian Rupee Opens Lower At 64.07 Per Dollar On Wednesday

The Indian rupee opened lower at 64.07 per dollar on Wednesday versus previous close 64.03.

On Tuesday, the rupee fell sharply by 55 paise against the dollar at 64.03 after data showed that December trade deficit widened to a three-year high.

It ended at lowest level against dollar since December 28; posted biggest single session fall against dollar since September 21.

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Benchmark Indices Opened Mildly Higher On Wednesday

Benchmark indices opened mildly higher on Wednesday, with the Nifty reclaiming 10,700 level, driven by technology stocks.

The 30-share BSE Sensex was up 83.21 points at 34,854.26 and the 50-share NSE Nifty gained 19.80 points at 10,720.30.

GAIL, Sun Pharma, TCS, ICICI Bank, Adani Ports, Infosys, HUL and BPCL were early gainers while IndusInd Bank, Ambuja Cements, Bharti Infratel and Bharti Airtel were early losers.

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Tuesday, 16 January 2018

Equities Began The Day On A Positive Note, With The Sensex Gaining

Equities began the day on a positive note, with the Sensex gaining a little over 50 points, while the Nifty was hovering around 10,750.

The Sensex is up 66.78 points or 0.19% at 34910.29, and the Nifty up 15.30 points or 0.14% at 10756.80. The market breadth is positive as 594 shares advanced, against a decline of 238 shares, while 200 shares were unchanged.

Bharti Airtel, Bajaj Auto, and Tech Mahindra were the top gainers, while Wipro, M&M, Asian Paints and HDFC lost the most.

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Monday, 15 January 2018

The Indian Rupee Gained In The Early Trade On Monday

The Indian rupee gained in the early trade on Monday. It has opened higher by 12 paise at 63.49 per dollar versus 63.61 Friday.

Pramit Brahmbhatt of Veracity said, "Rupee will remain under pressure. A technical pullback started from 63.30, may get extended till 63.80."

"Trading range for the spot USD-INR pair will be 63.50-63.80," he added.

Major indexes in Asia notched gains on Monday after Wall Street closed out last week at records and the dollar remained on the back foot.

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Equities On Monday Began The Week On A Strong Note

Equities on Monday began the week on a strong note, opening at record highs, while the Nifty began above 10,700 for the first time.

The Sensex is up 176.23 points or 0.51% at 34768.62, while the Nifty is up 46.30 points or 0.43% at 10727.60. The market breadth is positive as 840 shares advanced, against a decline of 160 shares, while 243 shares are unchanged.

HDFC, ICICI Bank and Tata Motors gained the most on both indices, while Infosys, M&M and Bharti Infratel were the top losers.

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Friday, 12 January 2018

The Rupee Strengthened By 11 Paise To 63.55 Against The Dollar In Opening Trade

The rupee strengthened by 11 paise to 63.55 against the dollar in opening trade today on fresh selling of the US currency by exporters and banks.

Forex dealers said a weak dollar in overseas markets on fears that a huge amount of foreign demand for American currency would dry up bolstered the rupee.

Yesterday, the rupee had settled lower by 6 paise at 63.66 on fresh bouts of demand for the American currency.

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Equity Benchmarks Opened At Fresh Record High On Last Day Of The Week

Equity benchmarks opened at fresh record high on last day of the week, with the Nifty inching towards new milestone of 10,700, tracking record highs on Wall Street.

The 30-share BSE Sensex was up 112.01 points at 34,615.50 and the 50-share NSE Nifty rose 31.10 points to 10,682.30.

About four shares advanced for every share falling on the BSE.

TCS fell nearly 1 percent on profit booking. Brokerage houses maintained their ratings following in-line numbers.

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Thursday, 11 January 2018

The Rupee Weakened 12 Paise To Trade At 63.71 Against The US Dollar In Morning

The rupee weakened 12 paise to trade at 63.71 against the US dollar in morning session at the Interbank Foreign Exchange on increased demand for the American currency from banks and importers.

Foreign fund outflows and rising crude oil prices also weighed on the rupee sentiment. Crude oil prices were ruling at around three-year high levels, putting pressure on the rupee as India is a major oil importer.

Yesterday, the rupee had bounced back to end higher by 11 paise at 63.60 against the US currency on bouts of dollar selling by exporters and corporates.

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Equity Benchmarks Were Flat In Opening On Thursday

Equity benchmarks were flat in opening on Thursday as investors await third quarter earnings of Infosys, TCS and IndusInd Bank.

The 30-share BSE Sensex was down 2.74 points at 34,430.33 and the 50-share NSE Nifty fell 7.20 points to 10,625.

About 780 shares advanced against 536 declining shares on the BSE. Infosys, Hindalco and HCL Technologies were early gainers.

Wipro, Yes Bank, Bajaj Finance, Cipla, HPCL, L&T, Eicher Motors, Axis Bank and ICICI Bank were early losers.

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Tuesday, 9 January 2018

Equity Benchmarks Hit Fresh Record High Again In Opening On Tuesday



Equity benchmarks hit fresh record high again in opening on Tuesday, with the Sensex trading above 34,400 level.

The 30-share BSE Sensex was up 78.32 points at 34,431.11 and the 50-share NSE Nifty gained 12.30 points at 10,635.90. About 1,003 shares advanced against 358 declining shares on the BSE.

Tata Steel, Axis Bank, Kotak Mahindra Bank, SBI, Sun Pharma, M&M, Wipro and Vedanta were early gainers while HPCL, Indiabulls Housing, Zee Entertainment, Hindalco and Dr Reddy's Labs were losers.

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Indian Rupee Opens Higher At 63.48 Per Dollar

The Indian rupee gained in the early trade on Tuesday. It has gained 3 paise at 63.48 per dollar versus 63.51 Monday.

Bhaskar Panda of HDFC Bank said, "A steady dollar saw emerging market currencies losing some value against dollar. Expect consolidation in an intra-day range of 63.40-63.55."

"Indian 10-year benchmark yield also has started to move up a bit after the recent correction. Expect a steady market where the benchmark yield may trade within a range of 7.32-7.36 percent," he added.

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Monday, 8 January 2018

The Rupee Strengthened By 8 Paise To Trade At 63.28 Against The US Dollar

The rupee strengthened by 8 paise to trade at 63.28 against the US dollar in opening session today on selling of the greenback by exporters and banks amid gains in stocks which scaled record levels.

Currency dealers said continued foreign fund inflows and weakness in the greenback against other currencies overseas supported the rupee.

Furthermore, a higher opening in the domestic equity market gave the uptrend some momentum, they added.

On Friday, the rupee ended at a 32-month high of 63.37, up 4 paise on steady unwinding of the American currency by exporters.

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The Market Started Off Second Week Of The New Year At Record High Levels On Monday

The market started off second week of the new year at record high levels on Monday as the Nifty crossed 10,600-mark for the first time, tracking positive lead from global peers.

The 30-share BSE Sensex was up 163.36 points at 34,317.21 and the 50-share NSE Nifty rose 46.90 points to 10,605.80.

About 1,255 shares advanced against 273 declining shares on the BSE. Sun Pharma, Yes Bank, GAIL, L&T, Infosys, Lupin, HPCL and BPCL were early gainers, rising 1-2 percent while Bharti Airtel fell nearly 4 percent.

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Friday, 5 January 2018

Equity Benchmarks Extended Gains In Morning On Last Day Of The Week

Equity benchmarks extended gains in morning on last day of the week, tracking positive global cues. Banking & financials, infra and metals stocks continued to gain.

The 30-share BSE Sensex was up 102.64 points at 34,072.28 and the 50-share NSE Nifty gained 27 points at 10,531.80. About 1,201 shares advanced against 284 declining shares on the BSE.

SBI, Hindalco Industries, Yes Bank, Indiabulls Housing Finance, L&T, UltraTech Cement, Vedanta, Tata Steel and Maruti Suzuki were early gainers. HCL Technologies, Tech Mahindra, Wipro, TCS and Infosys were mildly lower on strong rupee.

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Indian Rupee Opens Higher By 5 Paise At 63.35 Per Dollar

The Indian rupee gained in the early trade on Friday. It has opened higher by 5 paise at 63.35 per dollar versus 63.40 Thursday.

Bhaskar Panda of HDFC Bank said, "Dollar is under pressure and euro has been pushing higher. This trend is also well reflected in USD-INR pair as it has been trying to go towards 63.30."

"I expect the same trend today and the intraday range would be within 63.30-63.50."

"Indian 10-year benchmark yield has receded from recent highs. Today, I expect the benchmark yield to remain within 7.32-7.36 percent range for today," he added.

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Thursday, 4 January 2018

Equity Benchmarks Started Off Trade On A Positive Note

Equity benchmarks started off trade on a positive note, with the Nifty hovering around 10,450 level.

The 30-share BSE Sensex was up 56.99 points at 33,850.37 and the 50-share NSE Nifty rose 16 points to 10,459.20.

ONGC , Axis Bank, L&T, GAIL, Sun Pharma, Dr Reddy's Labs and Adani Ports were early gainers.
Tata Motors, ICICI Bank, Yes Bank and Tech Mahindra were early losers. Nifty Midcap was up 0.2 percent.

Jubilant Foodworks, GM Breweries, SJVN, UCO Bank, Bank of Maharashtra and Navkar Corp gained 2-12 percent.

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Indian Rupee Opens Lower At 63.59 Per Dollar

The Indian rupee opened lower by 6 paise at 63.59 per dollar on Thursday versus previous close 63.53.

Mohan Shenoi of Kotak Mahindra Bank said, "The new year has started with the dollar under pressure as markets reassess the impact of US tax cuts and rising crude oil prices."

"The Rupee is also strengthening against the dollar in-line with the global trend. We expect the USD-INR to trade in a range of 63.25-63.55 for the day."

"Bond market is bearish as most traders and investors do not have any appetite to buy G-Secs. New 10-year is being auctioned tomorrow and the cut-off is likely to be around 7.25 percent. Existing 10-year 6.79 percent expected trading range for the day is 7.32-7.37 percent," he added.

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Wednesday, 3 January 2018

Indian Rupee Opens Lower At 63.55 Per Dollar

The Indian rupee slipped in the early trade on Wednesday. It has opened lower by 7 paise at 63.55 per dollar versus 63.48 yesterday.

Pramit Brahmbhatt of Veracity said, "Rupee will continue its northward journey on the back of sudden FII inflow. Thus trading range for the spot USD-INR will be 63.30-63.60."

The dollar near 3-month low, weighed down by expectations of a slower pace of interest rate increases by the Federal Reserve amid a tepid US Inflation picture.

Meanwhile, the euro rose to nearly four-month high and Japanese yen strengthens against the US currency.

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Asia Shares Eye All-Time Top On Global Growth Cheer

Asian stocks struck a fresh decade high on Wednesday as risk appetites were whetted by a bevy of upbeat manufacturing surveys that confirmed a synchronised upturn in world growth was well under way.

Activity was especially strong in Europe, lifting bond yields there and driving the euro to within a whisker of its highest in three years against a beleaguered US dollar.

Investors also piled into emerging market trades. MSCI's index of Asia-Pacific shares outside Japan edged up another 0.1 percent, having jumped 1.4 percent on Tuesday in its best performance since last March.

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Tuesday, 2 January 2018

Bajaj Auto's Total Sales In December Registered A Healthy 30 Percent Growth

Bajaj Auto's total sales in December registered a healthy 30 percent growth, driven by exports and strong three-wheeler sales.

Total sales increased to 2.92 lakh units in last month of passing year, from 2.25 lakh units sold in year-ago.

Total domestic sales rose 25 percent year-on-year to 1.49 lakh units while exports shot up 35 percent to 1.43 lakh units in December.

Bajaj Auto said 3-wheeler sales grew by 187 percent to 63,785 units compared with 22,217 units sold in same month last year.

Motorcycle sales during the month increased 13 percent to 2.29 lakh units, from 2.03 lakh units in December 2016.

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Equity Benchmarks Rebounded In Opening On Tuesday

Equity benchmarks rebounded in opening on Tuesday, with the Sensex rising more than 100 points, backed by pharma, metals and technology stocks.

The 30-share BSE Sensex was up 147.65 points at 33,960.40 and the 50-share NSE Nifty gained 55.60 points at 10,491.10. About 1,057 shares advanced against 270 declining shares on the BSE.

Mahindra & Mahindra, Dr Reddy's Labs, Cipla, Sun Pharma, GAIL, Tata Steel, Coal India, TCS, HCL Technologies and Infosys were early gainers.

SBI and Eicher Motors were early losers. Nifty Midcap index gained 120 points on strong market breadth.

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Monday, 1 January 2018

Benchmark Indices Began The New Year On A Flat Note

Benchmark indices began the New Year on a flat note, but the midcaps were trading higher and outperforming the benchmarks in the opening tick.

At 09:16 hrs IST, the Sensex is up 11.14 points at 34067.97, while the Nifty was down 11.40 points or 0.11% at 10519.30. The market breadth was positive as 576 shares advanced against a decline of 178 shares, while 2,878 shares were unchanged.

Among stocks, State Bank of India (SBI), L&T, Hero MotoCorp and GAIL were the top gainers, while HUL, Wipro and Infosys were the top losers.

In the currency space, Indian rupee opened marginally higher at 63.84 per dollar on Monday versus 63.87 Friday.

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Indian Rupee Opens Higher At 63.84 Per Dollar


The Indian rupee opened marginally higher at 63.84 per dollar on Monday versus 63.87 Friday.

Pramit Brahmbhatt of Veracity said, "The rupee will trade on a flat note. We expect the spot USD-INR pair to trade in a range of 63.50-64."

According to Ajay Manglunia of Edelweiss, the volatility in the bond markets is expected to persist over the next few sessions."

"The 10-year benchmark bond yield is likely to trade in a range of 7.28-7.38 percent today," he added.

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