Afternoon Equity Stock Market News ; Nifty struggles below 7550

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Today the Nifty stock market, which slipped into negative territory after a fairly good start, bounced back in late morning only to falter again due to a fresh round of selling at some front line counters. The Sensex is down 78.72 points or 0.31% at 24,694.25, while the Nifty50 index of the National Stock Exchange is down 22.75 points or 0.3% at 7514.05.
After a steady start, the Indian stock market drifted lower this morning, with investors treading cautiously amid mixed global cues. After recent disappointing data on industrial production and inflation and a somewhat mixed first batch of quarterly earnings reports, investors are looking for fresh direction. The stock market has opened volatile on last day of the week following mixed Asian cues.
The equity market remained marginally lower amid consolidation with the Sensex falling 35.95 points to 24737.02 and the Nifty declining 15.40 points to 7521.40. The broader markets have fallen more compared to benchmarks; the BSE Midcap was down 0.6 percent and Smallcap lost 0.9 percent. More than two shares declined for every share advancing on the Bombay Stock Exchange.

Live Indian Share Market Update

Sensex cracks 300 pts, Nifty opens below 7700 on China rout Tata Motors, Hindalco Industries, Adani Ports, Tata Steel, Axis Bank, Vedanta and Adani Ports plunged 3-4 percent.

The Sensex is down 347.75 points or 1.4 percent at 25058.58 and the Nifty slips 111 points or 1.4 percent at 7630. About 354 shares have advanced, 1620 shares declined, and 50 shares are unchanged. Tata Motors, Tata Steel, Hindalco, Maruti and BHEL are major laggards in the Sensex. Among the gainers are Lupin, GAIL and Bharti 

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The S&P BSE Midcap Index was down 1.07 per cent and BSE S&P Smallcap Index was trading 1.44 per cent lower. 

Indian Rupee Update

The Indian rupee opened marginally lower at 66.86 per dollar on Thursday against previous close of 66.82.The USD-INR is expected to trade in a range of 66.65-66.95/dollar today

INDIAN MARKET OVERVIEW

Equity benchmarks continued southward journey for the third consecutive session Wednesday on global weakness post nuclear weapons test by North Korea and sharp correction in crude oil prices. Nifty future down 52 points at 7750.

The 30-share BSE Sense down 174 points at 25406. The market breadth was weak as about 1409 shares advanced against 1509 declining shares on the BSE.

Government decided to close three unviable units of HMT including the once popular HMT Watches, along with HMT Chinar Watches and HMT Bearings, by offering an "attractive" VRS to the employees as per 2007 pay scales.

Cadila Healthcare gained 2 percent as Credit Suisse upgraded stock to outperform from underperform and raised target to Rs 405 from Rs 360 earlier despite USFDA warning letter.

Live Stock Tips With Market Analysis By CapitalHeight

Intraday Stock Cash Tips:-

BUY GODFRY ABOVE1240 TG-1259-1270  SL 1221.3

BUY KWALITY 137 TG-139.5-142  SL 132.95

BUY TATAELEXI ABOVE 2215 TG-2230-2250  SL 2183.1

BUY 8K MILES ABOVE 1975 TG-1990-2010 SL 1949.3

Indian Market Overview:-  

              The market has ended higher. The Sensex ended up 216.68 points or 0.8 percent at 25735.90 and the Nifty was up 72.50 points or 0.9 percent at 7834.45.  

               Brent crude oil prices fell to levels last seen in 2004, dropping below the lows hit during the 2008 financial crisis on renewed worries over a global oil glut, with production around the world remaining at or near record highs and new supplies looming from Iran and the United States.

              The Indian economy is likely to grow at 7-7.5 percent in fiscal 2015-16 while retail inflation is expected at 6 percent, the government's Mid-year Economic Review authored by Chief Economic Advisor Arvind Subramanian says.  

              Shares of Bajaj Auto fell 2 percent intraday Friday on concerns that its export may get hurt. The new Argentina government devalued its currency in order to revive sluggish growth.

Global Market Overview:-

           Asian shares took their cue from Wall Street and slipped on Friday, but were still on track for gains in a week marked by a depreciating yuan in China and the first US interest rate hike in nearly a decade.   

            US stocks dropped Thursday on persistent concern over faltering global economic growth ,led by declines in energy and materials shares, a day after shares had rallied on the Federal Reserve's decision to raise interest rates.   

            The Dow Jones industrial average fell 253 points to 17495, the S&P 500 lost 31 points to 2041 and the Nasdaq Composite dropped 68 points to 5002.  

             Japan's central bank announced an unexpected round of new stimulus measures today to complement its vast asset-buying scheme, pushing the yen down sharply and giving a brief boost to Tokyo share prices.

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Intraday StockCash Tips :-

SELL GODFRY BELOW1330 TG-1322-1311 SL 1348.3
SELL AJANTA PHARMA BELOW 1295 TG-1287-1280  SL 1311.
SELL TATAELEXI BELOW 2245 TG-2232-2220  SL 2271.3
SELL SRF BELOW 1238 TG-1231-1223 SL 1253.3

Indian Market Overview:-

• Equity benchmarks ended at two-week closing high on Thursday, tracking rally in global peers after the first Fed rate hike in almost a decade.
• Nifty future up by 98 points to close at 7856.  The 30-share BSE Sensex up 309 points at 25803.
•  The market breadth was strong as about 1946 shares advanced against 751 declining shares on the BSE.  India has ranked a low 97th out of 144 nations, behind Kazakhstan and Ghana, on Forbes' annual list of the best countries for business in 2015, scoring poorly on metrics like trade and monetary freedom and tackling challenges like corruption and violence.  
• Shares of Aurobindo Pharma up 1.5 percent on getting approval from USFDA for antidiarrheal and anti-inflammatory drugs.

Global Market Overview:-

• Asian stock markets jumped on Thursday as investors chose to take an historic hike in US interest rates as a mark of confidence in the world's largest economy, though the good cheer did not extend to oil where oversupply again pressured prices.  
• US stocks closed higher after the Federal Reserve raised rates for the first time in nearly a decade. Only the energy sector lagged as oil prices resumed their decline  The Dow Jones industrial average ended up about 224 points after earlier adding 250 points with Goldman Sachs contributing the most to gains.
• Dow Jones industrial average closed up 224 points at 17749, The S&P 500 closed up 29 points at 2073 and The Nasdaq composite closed up 75 points 5071.

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