Indrani Mazumdar ' Mumbai April 23, 2015 Last Updated at 15:57 IST Stock Tips for Tomorrow Subscribe, Know which stocks to buy Tomorrow only Profitable Stock tips www.live-market-tips.com/Tomorrow Ads by Google Add to My Page Tiny URL RELATED NEWS Markets end flat after paring gains; HDFC Bank down 1.6% Sensex, Nifty extend losses; TCS, L&T down 2% Sensex gains over 100 points; Wipro surges nearly 6% Sensex, Nifty up 1%; bank shares zoom Nifty slips below 8,400 mark; HDFC down over 1% Hiranandani Properties Prices Starting at Just 15 Lacs. An Excellent Opportunity. Visit Nowhouseofhiranandani.com Aviva Term Plan Get 1 Cr Life Cover @Rs 16*/day. High Protection at Minimal Cost!avivaindia.com/Term-Insurance Ads by Google Markets ended lower on Thursday despite the clarification on minimum alternate tax by the government while a weak monsoon forecast raised concerns about an uptick in inflation. Further, investors turned cautious ahead of fourth quarter earnings from Infosys while worries about Greece also dampened sentiment. Meanwhile, rating agency Moody's today said emerging economies in Asia Pacific region, including India, have a high degree of immunity to external shocks, but will face challenges when the US Federal Reserve begins raising interest rates. The 30-share Sensex dropped 155 points to end at 27,735 and the 50-share Nifty shed 31 points to close at 8,398. MARKET VIEW "The last 6 out of 7 days, we have witnessed an extreme bout of selling in the key indices and stocks. Every rise getting sold and Bulls coerced to give in recently, with key supports breached. Today, was no different day, where volatility was extreme. We believe that the approach to the market remains cautious. If the indices break the previous low and close below that (i.e. 8270), then it could trigger a short term correction. Else, this could very well be termed as a bounce off the support levels. However, for a new trend to begin, Banknifty has to break 19000 levels. " said Kunal Bothra, Head -Advisory, LKP. ECONOMY The clarification from the Indian government that it would honor tax treaties while making a demand of Minimum Alternate Tax (MAT) at the effective rate of 20 per cent came as a relief for favorable treaty nations. But, dilemma still hangs over funds from other nations whose treaties do not grant an exemption from capital gains. The first monsoon forecast by the Indian Metrological Department (IMD) has predicted below normal rainfall during the season for the second straight year in 2015 primarily due to the build-up of El Nino conditions in the Pacific Ocean. Disruptions in the normal rainfall is likely to put further pressure on the agriculture sector which is already reeling under the impact of unseasonal rains that have damaged crops in parts of country and may lead to higher food inflation making further rate-cuts by Reserve Bank of India less likely. KEY STOCKS On the sectoral front, BSE Healthcare, Auto, Capital Gods, Oil & Gas, Realty and Power indices are trading lower up to 1%. However, BSE Consumer Durables and Metal indices are trading higher by 1% each. Metal stocks ended firm in today's trade after Bank of America-Merrill Lynch said the sector's return on equity will double by FY17 end. The research house reinstated coverage on Indian steel makers, with "buy" ratings on Tata Steel, SAIL, JSW and Jindal Steel and Power. Tata Steel gained 5%. Vedanta (earlier known as Sesa Sterlite) climbed nearly 0.5% and Hindalco was up 0.2%. Coal India advanced 1.3% after Brokerage firm CLSA maintained its 'buy' rating on the stock. YES Bank ended higher by 7% on the National Stock Exchange (NSE) on back of heavy volumes after the private sector lender said that its board approved a proposal to increase foreign institutional investor (FII)/foreign portfolio investors (FPI) limit to 74% from the existing limit of 49% of the paid-up share capital. According to media reports, Maruti Suzuki has plans of launching a series of new cars for the Indian market in 2015. Unveiled at the 2015 Geneva Motor Show, the Maruti Suzuki YRA model will be named as 'Fronx' for the Indian market. The stock was up 1%. TCS ended the session with marginal gains after the company teams up with Solace Systems team to deliver digital Reimagination solutions and services. Select IT shares remained under pressure for the seventh straight session over concerns about quarterly earnings. Infosys shed over 0.7% ahead of the quarterly earnings due tomorrow and Wipro lost nearly 2%. According to reports, M&M is planning to invest Rs 2,500 crore in expaniding its existing auto manufacturing facility in Telangana., which will increase its capacity to 1.5 lakh vehicles per year. The stock slipped over 1%. On the concern of poor monsoons ahead of the June-to-September monsoon season, auto, financials and FMCG stocks ended lower. ITC was down 0.3%, Tata Motors lost over 2%, Hero motocorp shed 1%, HUL slipped 0.6%, SBI dropped 2.4%, Axis Bank and ICICI Bank dipped 0.3% each. HDFC Bank lost 0.4%. HDFC Bank posted a 20.6% rise in net profit in the fourth quarter ended March 31, 2015 due to a higher loan growth. The bank had a net profit to Rs 2806.91 crore for Q4 compared to Rs 2,326.52 crore in same quarter previous fiscal. The number of new launches in residential real estate has come down by 55 per cent in the first quarter this year owing to subdued sales, according to a report. From the realty pack, Unitech, IB Realty, Godrej, Anantraj, HDIL and NBCC were down up to 2%. In the broader market, BSE Midcap index outperformed the peers and was up 0.6%. However, BSE Smallcap index lost 0.2%. Market breadth ended lower with 1,434 declines versus 1,377 advances. Read more on: Nifty ' Sensex ' Nse ' Bse ' Maruti ' Tcs ' Infosys ' Yes Bank ' Hdfc Bank ' Tata Steel Read More Sensex drops 189 points to end below 28,000 Provisionally, the 30-share Sensex ended down 189 points at 27,701 and the 50-share Nifty shed 39 points to close at 8,391 Add to My Page Tiny URL Recommended for you Monthly SIP Investments Invest as low as Rs 1000pm in Top SIPs in just 2mins. Start a ZipSip. www.myuniverse.co.in/ZipSip Luxury 2 & 3 BHK Mumbai Pay 10 lacs now, Rest on Possession 63 Storey Twin Towers in Kandivali lovealpine.com/Special-Offer Ads by Google Advertisements Prof. Mikkel Draebye explains the importance of corporate entrepreneurship. 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"Prof. Massimo Magni" Unveil the marvellous hill stations of Maharashtra Back to Top Quick Links Go LATEST NEWSAll NewsIn This Section Nifty ends shy of 8,400; YES Bank top gainer PDP-BJP coalition govt a change for the worse: Omar Abdullah Arms case: Salman Khan fails to appear in court for recording statement MRF Q2 net surges 95% to Rs 333 crore Banking sector fraud has gone up by more than 10%: Deloitte Building leadership, capabilities in big data labs critical for analytics: Nasscom YES Bank extends intra-day gain on board nod to hike FII/FPI limit to 74% Gammon India to issue Rs 100-crore debentures to promoters Smart maps an $8 bn opportunity for India: Study Exercise financial prudence: Parrikar to Armed Forces News you can use Rss icon Don't reduce PF contribution What is Gratuity? What are NEFT and RTGS? Check your Income Tax Credit credit status form-26AS online Saving capital gain tax on sale of property Calculate tax on your house property income How to Check your EPF Balance & status online Featured Videos Why some of Japan's elderly want to go to jail video The 1341hp electric car beats a Bugatti video The maps that tell you when it's safe to breathe video How to add Michael Jordan's shoes to your portfolio video MOST POPULARReadSharedCommented BK Birla group plans mega recast Samsung to set up $100-mn plant in Hyderabad Rains seen below normal for 2nd straight year Jet Airways puts its wide-body fleet on sale to reduce debt FIIs with tax pact shield may be exempt from MAT Market News Signs of steel prices bottoming out a ray of hope for steel players CNX Metal index that fell to one-year lows of close to 2,293 in mid-March now trading at 2,460 levels Markets under pressure; Sensex slips below 27,800 The auto and capital goods space are exerting pressure on the indices in noon trades. Ashoka Buildcon dips after pricing QIP issue at discount The board has approved issue of 2.84 crore shares to Qualified Institutional Buyers at Rs 175.80 per share Cardamom rises by 0.4% as demand picks up Speculators created fresh positions at prevailing levels, taking positive cues from spot market on pick up in demand Crude palm oil falls by 0.1% on sluggish demand speculators indulged in reducing positions due to subdued demand in spot market The 30-share Sensex dropped 155 points to end at 27,735 and the 50-share Nifty shed 31 points to close at 8,398.
Two successive reports, one by Percy Mistry in 2007 and the other by Raghuram Rajan in 2008 had provided the RBI and the finance ministry with blueprints of what to do next. Both reports, unfortunately, was put on ice. The global meltdown saved the RBI. It also saved the finance ministry from having to work on the two reports.
Tata Group chairman Cyrus Mistry is keen to promote the 'Make in India' campaign.
Sebi on Monday imposed a penalty totalling Rs 15 crore on senior officials of Franklin Templeton AMC and its trustee for violating regulatory norms in the case of winding up of six debt schemes in 2020. However, a spokesperson of Franklin Templeton said they disagree with the findings in Sebi's order and intend to file an appeal with the Securities Appellate Tribunal (SAT). A fine of Rs 3 crore has been levied on Franklin Templeton Trustee Services Pvt Ltd and Rs 2 crore each on Franklin Asset Management (India) Pvt Ltd President Sanjay Sapre and its chief investment officer Santosh Kamat, according to the Sebi order. In addition, the regulator imposed a penalty of Rs 1.5 crore each on fund managers -- Kunal Agarwal, Pallab Roy, Sachin Padwal Desai and Umesh Sharma -- as well as former fund manager Sumit Gupta.
'Both India and Japan can find themselves in a win-win situation if they draw some lessons from each other's strengths,' says Dr Rajaram Panda.
India will have the presidency of the BRICS' $100 billion New Development Bank for six years with headquarters in China that will become operational in about two years, a major step for reshaping the international financial system dominated by the West.
'India is in a slowdown which most of us have not seen in our living memory.'
Three stockmarket experts give their best picks for the New Year.
Soaring output has left the world awash with cheap crude as supply exceeds demand by 1 million to 2 million barrels per day
The 50-share NSE Nifty gained 53.30 points or 0.61 per cent to 8,778.
RBI is unlikely to stem the slide against the dollar as the greenback is rising rapidly against all currencies in the world.
Market breadth was weak with 1,260 advances and 1,597 losers on the BSE.
Indian economy is expected to improve marginally in the current financial year with its GDP at market price projected to expand by 3.4 per cent from 3.3 per cent in the previous fiscal, think tank OECD said.
Reliance Industries and ONGC were down 4-6% each contributing the most to the Sensex losses
Fitch said the full implications of Patel's resignation will only become clearer once there is some indication of the RBI's policy approach under his replacement, Shaktikanta Das
The broader NSE Nifty dipped below the 10,200-mark to hit a low of 10,180.25 before ending at 10,195.15, down by 165 points, or 1.59 per cent.
'Whether or not Chandrashekhar Azad succeeds or fails electorally, he has already made democratic politics more accountable to Dalits.'
A staff nurse from a Bihar hospital begs the prime minister for her life as the state's medical staff continues to treat suspected COVID-19 patients without protective safety kits.
'The Reserve Bank's independence has remained a work in progress, an enduring challenge that the nation has been grappling with on an ongoing basis,' says RBI Deputy Governor Dr Viral Acharya.
The dollar index was down 0.01 per cent at 95.86 against a basket of six currencies in early trade
The broader NSE Nifty slipped below the 10,500-mark by falling 103 points, or 0.97 per cent, at 10,482.20. It touched a high of 10,645.50 and a low of 10,464.05 during the day.
The Chinese envoy said that the India-China bilateral ties can't take the strain of another Doklam episode
In this weekly self-help series, mental health and life coach Anu Krishna tells you how to take control of your life.
Compared to their Indian peers, MNCs have higher return ratios.
Sensex shed 167 points to close at 28,633 and Nifty dropped 55 points to end at 8,695.
The 30-share Sensex ended down 261 points at 27,177 and the 50-share Nifty ended down 91 points at 8,214.
The sensex has opened on a positive note today and climbed up 20 points within minutes of the trading session to 6,760.
A stable dollar will at minimum reduce incremental cross-currency pain for Indian cos.
Experts advise investors to buy at lower levels in the next few months and sell at the higher end of their range in the second half, reports Rajesh Bhayani.
It has been clear for a while that India needs manufacturing - and it may be true that global manufacturing needs India as well. Time to strike while the iron is hot, say Rajat Dhawan, Anu Madgavkar and Sree Ramaswamy.
After one year in power, Prime Minister Narendra Modi is pretty much on the back foot, even if he continues to display bravado in his public pronouncements. He knows within his heart that he has wasted a lot of his political capital without getting much in return, says M K Venu.
It's crucial for Modi to make India an easier place to do business.
Sun Pharma was the top gainer after SPARC received Sebi nod to raise up to Rs.250 crore through a rights issue
"Coming festivals (Chhat, Puja, Dussehra, Deepavali, Id, Xmas, New year) pose a huge challenge in the pandemic control. It has been seen that Onam in Kerala and Ganesh Chaturthi in Maharashtra escalated the pandemic seriously. This must not be allowed to happen in Delhi," the report stated.
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The catalyst is the run on emerging market equities, but many investors are just tired of waiting for India to get its act together.
WPI inflation even breached psychological level of 0% in Nov.
Only Bong Joon Ho -- whose film Parasite won the Oscars for Best Film, Best Director, Best International Feature -- knows how to work with a heavy hand and still get respectable results, says Ranjita Ganesan.
Like pharmaceutical companies globally - which used to enjoy a preferential exchange rate in Venezuela - Indian producers have been left badly stung by the collapse of the bolivar currency
As part of a cost-cutting plan, the bank is now dismantling its stock broking, equity research, and equity listing desks worldwide.
India's good fortune, experts in the US feel, is not the result of a fundamentally strong economy, but because it is the best of a bad set of options.
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