Menu

Currency

Equity Right

How are Exchange Rates are Determined?

What determines Exchange Rates?

 

Exchange Rate is the value of one country’s (nation) currency against another nation’s currency. In simple terms, it is a relative value between two currencies. Usually exchange rates are free floating depending on demand and supply in market. But there are exchange rates which have restrictions and are not based on floating rate. The other factor apart from demand and supply that determines exchange rate are interest rates, speculation and market sentiment , inflation rates, etc.

Type of Exchange Rate:

Currency Peg – Sometimes a particular country’s currency peg to that of other countries currency. For example – Hong Kong’s dollar pegs to US dollar in range of 7.65 to 7.80, than value of Hong Kong’s dollar will remain between the ranges of 7.65 to 7.80.

Free floating – This rate actually fluctuates due to the change in foreign exchange market. So, if there is any fall or rise in the foreign exchange market, it will affect free floating exchange rate.

Restricted currencies – This is not applicable to all the currencies, as only some countries have restrictions which limit their exchange to be within the country’s border and have value which is set by government.

Spot and forward – Spot price is basically current market value which is also known as cash value. Similarly, exchange rate have Forward rate, which are based on the expected currency rise and fall. Forward rate changes as expected change in market value.

Onshore and Offshore – Sometimes, exchange rate differs in their own country which is because of onshore and offshore rates. This situation occurs between country’s border versus outside its borders and fluctuates accordingly. For example, Chinese government has own structure and controls the currency. By setting a midpoint value for the currency, which allows the Yuan to trade in a band of 2% from the midpoint.

Quotation – Quotation is basically an exchange rate which is quoted using an acronym for the national currency which they represent.

 

What determines currency exchange rate ?

Other currency determined price of one currency. Therefore various factors mainly Fixed Exchange rates, Floating Exchange Rates and Managed Exchanged rates influences Currency rate. Floating exchanges rates and Fixed Exchanges rates are most commonly used to determine rate as Floating rate actually fluctuates due to the change in foreign exchange market. So, if there is any fall or rise in the foreign exchange market, it will affect free floating exchange rate.  Demand and supply are the main factor to determine it in open market operation.

If fixed rates are used by economy than this is not applicable to all the currency, as only some countries have restrictions, which limit their exchange to be within the countries border and have value which is set by government. Countries choose to peg where, a particular countries currency peg to that of other countries currency. For example, Hong Kong’s dollar pegs to US dollar in range of 7.65 to 7.80. Than the value of Hong Kong’s dollar will remain between the ranges of 7.65 to 7.80 usually done to maintain stable rates.

Major factors which determines exchange rates are:

Government – When there is too much volatility in Forex market, then government or regulatory body of that country may intervene and buy opposite currency to control downfall. For Example, if Rupee is depreciating against Dollar with a high difference, than RBI may come forward and buy Dollars.

Imports and Exports – Imports and exports play major role in exchange rates. Therefore, government always try to maintain balance between them. For example, if imports are increasing, it create more burden on that particular country’s economy resulting in rate fluctuation.

Interest Rates – Interest rates on government bonds attracts investors, but rate should be high enough to cover foreign market risk so that investor’s money is safe and credit ratings are stable. This will result in flipping rates in particular countries exchange rate.

Speculations and Market Sentiment – When the markets are moving, there is a lot of speculation about the expected changes into the currency rates which results in investments, redemptions of foreign investors. Through speculations, investors try to earn more profit.

Inflation Rates – Any change in inflation rates results change in exchange rates. Usually, country’s which have low inflation rate have seen appreciation in their exchange rate and vice versa.

Other factors that contribute in fluctuation of exchange rates are country’s political stability, debt holdings and overall performance of economy.

 

 

Importance of Financial Literacy. Why it is a must have today

Shriram Q2FY25 Loan Book Growth 20% YoY led by CV, PV and MSME segment

Euro to decline in parity with US Dollars.

Euro to decline in parity with US Dollars:

On Tuesday, euro reached in parity with US dollars for the first time in 20 years. The currency has been declining consistently amid fear of recession and, threats from Russia to reduce gas supply to Germany and other euro zone countries. The stress on the currency is also beyond the German gas shortage, as there are power cutbacks in France contributing to the decline. This means, there will be requirement of more euros to settle a payment in dollars. The export-oriented manufacturers, automobiles and chemicals sector are benefited the most from the currency decline. There is maximum distress in import-oriented businesses. Europeans tourist have to spend more euros for their trips to US or other nations who have pegged there currency to dollar.  

The impact of falling currency differs in various sector based on their dependence on foreign exchange rates. There will be more requirement of euros, if a business imports raw materials or other products. The goods that are imported in euro zone, only 40% are settled in euro rest is settled in dollars. For instance, oil and gas are imported and paid in dollars, but due to the Ukraine crisis, there was a surge in prices. This results in inflation and slowdown in the economy. A weakening in euro rates can have actual disruptions in costs. On the other hand, if businesses export outside the euro area, they benefit from the fall as prices become more competitive.

There is a boost in exports of European goods and services as the currency falls, making the currency more competitive. However, this won’t have much significance as inflation due to the Ukraine war will diminish all benefits. If there is no slowdown in the economy, they can repay their debt obligations faster and get rid of them. For nations who have issued dollar designated debt, this will increase the cost of debt repayment.

In order to curb inflation and declining exchange rates, ECB (European Central Bank) might raise interest rates more aggressively. If euro depreciates further, there would create difficulty in EBCs efforts to restrain inflation.

 

Indigo to “rationalise” salaries of technicians following mass sick leave.

Loan growth, higher margins, and lower costs to drive bank bottom lines in Q1.

NBFCs and HFCs securitization volumes almost doubled.

Tarsons Products earned Rs. 29 crores in net profit.

Market update: 07th July 2022.

Market update: 07th July 2022. 

Overall performance:

Today as the market closed, SENSEX was up by 427.49 points or 0.80%, closing at 54178.46 and NIFTY was up by 143.10 points or 0.89%, closing at 16132.90. While the S&P BSE small-cap index closed at 25,568.55 and increased by 328.87 points or 1.30%. NIFTY Bank increased by 1.74% or by 596.05 points and closed at 34920.30. Similarly, Nifty IT also surged by 0.67% or 188.70 points and closed at 28196.30

The most active stocks traded today were Reliance, Titan Company, HDFC, and Tata Steel closed at Rs.23,88.10, Rs.127.50, Rs.1395.80, and Rs.900 respectively.

 

Global Indices and Commodities:

When the Indian market closed, DAX was trading at 12,776.97 up by 189.246points or 1.42%. NASDAQ was trading at 11361.85 and up by 39.61 points or 0.35% and CAC was trading at 4,5998.95, increased by 1.53% or 90.70 points. Currently, Gold is trading at 50,651 and increased by 151 points and 0.30%, and Silver is trading at 57,247 and gained 0.92%. Crude oil is trading at 7900, increasing by 1.73%.

 

Currency:

Currently, USD is trading at Rs 79.17, declining by 0.13%. EURO was trading at Rs 80.79 and increased by 0.36%. 

Sector-wise performance:

Today, almost all other sectors ended on a positive note. The IT Services & Consulting Service sector increased by 0.81%. However, some stocks in this sector fell, which are Affle India and Bartronics. Sectors such as Finance, Households, Paints, and Pharmaceutical increased by 7.57%, 9.93%, 4.79%, and 2.49% respectively. The oil exploration and production sector fell by 3.12%.

Top 5 gainers:

The top 5 gainers today were Titan Company, Tata Steel, Larsen, and Induslnd Bank, M&M. Titan Company (CMP Rs.2127.50), and Tata Steel (CMP Rs.900) increased by 5.66% and 4.88% respectively. The current market price of Larsen is Rs. 1611.10 and gained 3.53%. IndusInd Bank was up by 2.92% and closed at Rs.861.00. M&M gained by 2.60%. The CMP of the company is Rs.1133.30

Top 5 losers:

Today, the top 5 losers were Dr Reddys Labs, Nestle, Bharti Airtel, Reliance, and Bajaj Finance. Dr Reddys Labs (CMP Rs. 4,338.35) declined by 1.29% and Nestle (CMP Rs. 18,187) by 1.14%. Bharti Airtel closed at Rs. 686.65 and slipped by 1.05%. Reliance decreased by 1.01%. The closing price was Rs. 2387.65 as against the previous closing price of Rs. 2411.95. Bajaj Finance closed at Rs. 5859.90 and fell by 0.98%

Stock in news: 

Titan Company’s first-quarter sales jumped by 205% year on year basis. The closing price of Titan Company was Rs.2127.50 as against the previous closing price of Rs.2013.55. The price increased by 5.66%. The board of PBA Infra approved the voluntary delisting of shares of the company from NSE. The company’s share price fell by 2.61% and closed at Rs. 13.05. Deep IND received a Letter of Awards from ONGC. The company’s share price rallied from Rs.188.45 to Rs.198.50. The price increased by 5.33%.

Market update: 07th July 2022. 
Image shown is for representation only.

Adani Wilmar enters the coveted large-cap category by AMFI

 

 

 

Supriya Lifescience Ltd Q1 FY23 Result Updates.

Market update 16th June 2020. Market surges despite volatility. HDFC twins top gainers.

Market update 16th June 2020. Market surges despite volatility. HDFC twins top gainers.

 

Overall performance:

Today, Indian indices witnessed volatile trade due to improving performance of global cues and closed on a positive note. Selling pressure was seen in FMCG, Infra, Energy and Pharma stocks but IT and Metal stocks outperformed. When market closed, SENSEX increased by 376.42 points or 1.13%, closing at 33,605.22 and NIFTY was up by 100.30 points or 1.02%, closing at 9,914.00. The S&P BSE midcap index was up by 46.34 points or 0.37%, closing at 12,501.29 and S&P BSE Small cap increased by 4.77 points or 0.04 %, closing at 11,849.62. While, NIFTY Midcap 100 closed at 14,230.60, up by 62.05 points or 0.44% and NIFTY Small cap 100 closed at 4,404.75 and decreased by 4.85 points or 0.11%.

 

Global indices and commodities:

When Indian market closed, almost all the global indices were trading at a positive note. DAX was up by 328.98 points or 2.76%, trading at 12,240.33 and CAC was trading at 4,923.46, up by 107.74 points or 2.24%. SGX Nifty was trading at 9,881.50 and increased by 0.87% or 85.00 points. While, NASDAQ was trading at 9,726.02, up by 85.00 points or 0.87%.

Currently, Gold is trading at 47,350.00 up by 324.00 points or 0.67%, Silver is trading at 47,910.00 up by 517.00 points and 1.09%. Crude oil is trading at 2,859.00, which increased by 74.00 points or 2.66%.

 

Currency:

At the closing time of Indian indices, almost all the currencies were trading at a positive note. USD was trading at Rs 76.21, increased by 0.25%. EURO was trading at Rs 86.10, up by 0.13% and GBP was trading at Rs 96.21, up by 0.51%.

 

Sector wise performance:

Among the sectors, major jump was seen in Banking, Auto, IT, and Metal sector while major losses was booked by FMCG and Pharma Stocks. The S&P BSE Auto index increased by 9.74 points or 0.07% and S&P BSE BANKEX was up by 441.83 points or 1.95%. S&P BSE IT was up by 135.73 points or 0.95% and BSE IT was up by 135.73 points. NIFTY BANK increased by 383.80 points or 1.93%, closing at 20,296.70 and NIFTY Auto was up by 8.05 points or 0.12%. While, NIFTY IT increased by 54.10 points or 0.38%, closing at 14,450.80 and NIFTY FMCG fell by 126.45 points or 0.44%.

 

Top 5 gainers:

Share price of HDFC Bank increased by 40.55 points or 4.27%, closing at Rs 990.40, HDFC gained 70.25 points or 4.01% and closed at Rs 1,891.90. ICICI Bank shares increased by 11.85 points or 3.58%, closing at Rs 342.95. JSW Steel was up by 6.30 points or 3.43%, closing at Rs 190.05 and Hindalco shares increased by 4.30 points or 2.95% and closed at Rs 150.10.

 

Top 5 losers:

Today, Tata Motors shares declined by 5.75 points or 5.72%, closing at Rs 94.75. Bharti Infratel shares declined by 6.90 points or 3.10 percent, closing at Rs 216.00. Tech Mahindra decreased by 15.50 points or by 2.82%, closing at Rs 533.30. Share price of GAIL fell by 2.15 points or 2.16%, closing at Rs 97.50 and Axis Bank declined by 8.05 points or 2.07%, closing at Rs 381.55.

 

Stock in news:

Most active stocks in terms of volume were Vodafone idea, Tata Motors, SBI, IndusInd Bank, SAIL, Federal Bank, BHEL, IDFC First Bank, Bank of Baroda, Axis Bank, RBL Bank and PNB. Today, HDFC Twins were in news as both HDFC and HDFC Bank gained more than 4 percent. Tata Motors was in news as after they announced their Quarter 4 Results,. Their share price declined by more than 5 percent and was one of the top losers today, closing at Rs 94.75. IT sector ended on positive note and IT stocks like TCS and Infosys increased around 1 to 2 percent.

 

 

Market update 15th June 2020. Market closes on a negative note for third consecutive session.

India Inc: Navigating a Challenging Q2 with Resilience in ROCE

Market update 15th June 2020. Market closes on a negative note for third consecutive session.

Market update 15th June 2020. Market closes on a negative note for third consecutive session.

 

Overall performance:

Today, Indian indices ended 1.5 percent lower, due to weak performance of Global Cues while, market was majorly dragged by FMCG, Auto, Banking and Finance sector. When market closed, SENSEX was down by 552.09 points or 1.63%, closing at 33,228.80 and NIFTY was down by 159.20 points or 1.60%, closing at 9,813.70. Almost all the sectors ended on a negative note expect Pharma.

In Broader markets, the S&P BSE midcap index was down by 145.20 points or 1.51%, closing at 12,454.95 and S&P BSE Small cap decreased by 0.42 points or 0.00%, closing at 11,844.85. While, NIFTY Midcap 100 closed at 14,168.55, down by 170.80 points or 1.19% and NIFTY Small cap 100 closed at 4,409.60 and increased by 16.10 points or 0.37%.

 

Global indices, Commodities and Currency:

When Indian market closed, all other major indices was trading at a lower note except NASDAQ. SGX Nifty was down by 103.00 points or 1.04% and trading at 9,796.50. DAX was trading at 11,818.54, down by 130.74 points or 1.09% and CAC was trading at 4,790.73 and decreased by 48.53 points or 1.00%. While, NASDAQ was trading at 9,588.81, up by 96.08 points or 1.01%.

Currently, Gold is trading at 46,751 down by 583.00 points and 1.23%. Silver is trading at 47,021.00, down by 680.00 points and 1.44% and Crude oil is trading at 2,714.00, which decreased by 24.00 points or 0.88%.

At the closing time of of Indian indices, USD was trading at Rs 76.02, increased by 0.24%. EURO was trading at Rs 85.60, up by 0.08% and GBP was trading at Rs 95.35, up by 0.09%.

 

Sector wise performance:

As Market ended on a negative note, losses was witnessed by all the sectors. But among the sectors, major decline was seen in Metal, FMCG, Banking and Auto sector and gains were seen in Pharma sector. The S&P BSE Auto index decreased by 242.74 points, S&P BSE FMCG was down by 162.64 points or 1.49%. While, BSE BANKEX was down by points 829.39 or 3.53% and BSE Metal was down by 148.73 points or 2.09%. When market closed today, NIFTY Bank fell by 741.65 points or 3.59%, closing at 19,912.90 and NIFTY Auto decreased by 116.40 points or 1.77%, closing at 6,443.00. While, NIFTY Pharma was up by 6.25 points or 0.06% and closed at 9,989.05.

 

Top 5 gainers:

Today, GAIL increased by 3.30 points or 3.43%, closing at Rs 99.65. Wipro gained 5.90 points or 2.84% and closed at Rs 213.80. Reliance increased by 25.75 points or 1.62%, closing at Rs 1,614.55. HCL Tech was up by 8.20 points or 1.44%, closing at Rs 578.95 and Sun Pharma shares was up by 5.70 points or 1.19% and closed at Rs 485.80.

 

Top 5 losers:

Today, shares which declined the most were from the Banking and Auto sector. IndusInd Bank declined by 37.90 points or 7.17%, closing at Rs 490.55. Shares of Tata Motors declined by 4.56% or 4.80 points, closing at Rs 100.50, Axis Bank decreased by 18.40 points or by 4.51%, closing at Rs 389.60. Share price of Bajaj Finance fell by 98.75 points or 4.03%, closing at Rs 2,351.40 and NTPC declined by 3.70 points or 3.82%, closing at Rs 93.20.

 

Stock in news:

Today, even when market ended on a lower note, eight Nifty 50 stocks gained up to 4 percent which includes GAIL, Wipro, Reliance, HCL Tech, Sun Pharma, ONGC, Dr Reddy’s Lab, and Cipla. IndusInd Bank was in news as after gaining for six consecutive day, today their share price fell by 7.17 percent and closed at Rs 490.55. After reporting loss in Q4 results, Tata Motors declined by 4.56 percent. Other than these, stocks which were active by volume were Vodafone idea, SBI, BHEL, RBL Bank, Tata Motors, PNB, Bank of Baroda, ICICI Bank, Zee Entertain, Ashok Leyland and IDFC First Bank.

 

 

Weekly market update (8th June – 12th June).

India-Japan Collaboration: Pioneering the Semiconductor Ecosystem Development

Weekly market update (8th June - 12th June).

Weekly market update (8th June – 12th June).

 

Overall Performance:

This week, Indian Equities witnessed the most volatile week. The week started on a positive note but selling pressure was seen in mid-week due to which market declined by 1 percent in this week. Decline was noticed due to many reasons such as Moody’s downgrade rating, decline in global equities, ADR verdict and rising cases of COVID-19. However, market was supported due to the increasing foreign investment and the decision by the government to lift certain lock down norms to recover the economy.

Overall Indian market declined by 1 percent but small cap index and mid cap index outperformed in this week. On Monday 8th June, SENSEX opened at 34,287.24 and closed at 34,370.58 (up by 83.34 points) while, on Friday it closed at 33,780.89 and increased by 242.52 points. When compared with opening price on Monday, SENSEX declined by 1.48 percent this week. While, on Monday, NIFTY opened at 10,142.2 and closed at 9,972.90 on Friday, down by 1.68 percent.

The S&P BSE Mid-cap index gained more than 0.37 percent and closed at 12,600.15 on Friday. But some mid cap stocks gained more than 10 percent. This includes stocks such as Ujjivan Financial Services, PC jewellers, Cochin Shipyard, Info Edge, Granules India, Dishman Carbogen and Swan Energy. On the other side The S&P BSE Small-cap index was flat in this week.

 

Global indices, commodities and currency:

DAX was trading at 12,777.50, down by 70.18 points or 0.55% on Monday while today it is trading at 11,949.28, down by 21.01 points and NASDAQ was trading at 9,814.08 up by 198.27 points or 2.06% while now it is trading at 9,588.81 up by 96.80. CAC was trading at 5,169.24 and decreased by 0.55% or 28.55 points. It is now trading at 4,839.26 up by 23.66 points.

When market closed on Monday, Gold was trading at 45,985.00, up by 274 points or 0.60% and is now trading at 47,334. Silver was trading at 48,189.00, up by 838.00 points and is currently trading at 47,690, down by 949.00 points.

On Monday, at the closing time of Indian indices, USD was trading at Rs 75.54 which is now trading at Rs 75.84. EURO was trading at Rs 85.20, and is currently trading at Rs 85.46. GBP was trading at 95.21, which is now trading at Rs 95.25.

 

Sector wise:

This week, major gain was seen in Banking, Financial, IT, Energy and Auto Sector. NIFTY Bank decreased by 379.95 points (in this week, comparing to the opening price of Monday), closed at 20,654.55.

 

Top 5 gainers:

This week, share price of IndusInd Bank increased by 25.12% or by 106.10 points, closing at Rs 528.45, India Bulls Housing gained 17.81% or 23.20 points, closing at Rs 153.45. Shares of Mahindra and Mahindra jumped by 5.01 percent or 24.25 points, closing at Rs 508.45. Hero MotoCorp’s share price increased by 61.20 points or 2.61 percent, closing at Rs 2,401.85 this week, and share price of Bajaj Finance gained 59.80 points or 2.50 percent and closed at Rs 2,450.15.

 

Top 5 losers:

Dewan Housing Finance Corporation fell by 4.36 percent or by 0.67 points and closed at Rs 14.68. This week, share price of Zee Entertainment decreased by 4.20 percent or 7.40 points, closing at Rs 168.60. Reliance Power fell by 4.09% or 0.11 points, closing at Rs 2.58 shares. Endurance Tech declined by 3.98 percent or 34.10 points, closing at Rs 821.85 and share price of ONGC declined by 3.39% or 2.95 points and closed at Rs 83.95 on Friday.

 

Stocks in news:

This week, IT sector saw a huge loss mainly after the H-1B Visa news which impacted on their stocks and almost all IT stocks including TCS, Wipro and Infosys ended on a negative note. On the other side, telecom index impacted due to the ADR verdict. IndusInd Bank was in news in this week, as they continued to gain for 5 consecutive day mainly after the announcement of Additional shares purchase by promoters in the company and closed at Rs 528.45. On the other side, after announcement of Quarter 4 Results, Mahindra and Mahindra share price jumped more than 5 percent this week. Other than these stocks, most active in terms of volume includes stocks such as Vodafone Idea, SAIL, Axis Bank, Bharti Airtel, IDFC First Bank, SBI, NCC, Bank of Baroda, Tata Motors, Jindal Steel, ITC, ICICI bank, Adani power and Tata power.

 

 

Market update 12th June 2020. Market closes with highest intraday gains in more than two months.

Shipa Medicare reported an 85 lakh net profit.

Market update 12th June 2020. Market closes with highest intraday gains in more than two months.

Market update 12th June 2020. Market closes with highest intraday gains in more than two months.

 

Overall performance:

Today, Indian indices witnessed volatile trade with the biggest intraday gain and closed on a positive note, majorly supported by Banking, Pharma, Energy and Telecom sector stocks. All the sectors ended on positive note except IT. When market closed, SENSEX increased by 242.52 points or 0.72%, closing at 33,780.89 and NIFTY was up by 70.90 points or 0.72%, closing at 9,972.90.

The S&P BSE midcap index was up by 119.57 points or 0.96%, closing at 12,600.15 and S&P BSE Small cap increased by 14.85 points or 0.13%, closing at 11,845.27. While, NIFTY Midcap 100 closed at 14,339.35 up by 181.55 points or 1.28% and NIFTY Small cap 100 closed at 4,393.50 decreased by 4.85 points or 0.11%.

 

Global indices and commodities:

When Indian market closed, almost all the global indices were trading at a positive note. DAX was up by 179.74 points or 1.50%, trading at 12,150.03 and CAC was trading at 4,931.07 up by 115.47 points or 1.50%. SGX Nifty was trading at 9,899.50 and increased by 0.47% or 46.50 points. While, NASDAQ was trading at 9,492.73, down by 527.62 points or 5.27%.

Currently, Gold is trading at 47,204, down by 195.00 points or 0.41%, Silver is trading at 48,145, down by 494.00 points and 1.02%. Crude oil is trading at 2,774.00 which decreased by 8.00 points or 0.29%.

 

Currency:

At the closing time of Indian indices, almost all the currencies were trading at a positive note expect Euro. USD was trading at Rs 75.84, increased by 0.08%. EURO was trading at Rs 85.80, down by 0.03% and GBP was trading at Rs 95.81, up by 0.09%.

 

Sector wise performance:

Among the sectors, major jump was seen in Banking, Auto, Pharma and Energy sector while major losses was booked by IT Stocks. The S&P BSE Auto index increased by 419.22 points or 2.91% and S&P BSE BANKEX was up by 67.36 points or 0.29%. While, S&P BSE IT was down by 216.96 points or 1.49%. At close, NIFTY BANK increased by 129.40 points or 0.63%, closing at 20,654.55 and NIFTY Auto was up by 185.80 points or 2.92%. While, NIFTY IT decreased by 216.70 points or 1.48%, closing at 14,402.75 and NIFTY Media fell by 11.25 points or 0.87%.

 

Top 5 gainers:

Share price of Mahindra and Mahindra increased by 33.90 points or 7.14%, closing at Rs 508.45, Bharti Infratel gained 14.20 points or 6.74% and closed at Rs 225.00. Shree Cements shares increased by 1,141.45 points or 5.37%, closing at Rs 22,392.65. Bajaj Finance was up by 111.25 points or 4.76%, closing at Rs 2,450.15 and Hero MotoCorp shares increased by 91.90 points or 3.98% and closed at Rs 2,401.85.

 

Top 5 losers:

Today, Shares of Zee Entertainment declined by 7.40 points or 4.21%, closing at Rs 168.55. ONGC shares declined by 3.45% or 3.00 points, closing at Rs 83.90. Tech Mahindra decreased by 17.15 points or by 3%, closing at Rs 554.70. Share price of Power Grid Corp fell by 4.70 points or 2.75%, closing at Rs 166.30 and Wipro declined by 5.00 points or 2.35%, closing at Rs 207.90.

 

Stock in news:

Most active stocks in terms of volume were Vodafone idea, Tata Motors, SBI, IndusInd Bank, Ashok Leyland, BHEL, IDFC First Bank, Bank of Baroda, Axis Bank, RBL Bank and PNB. Today, IT sector saw a huge loss mainly after the H-1B Visa news which impacted on their stocks and almost all IT stocks including TCS, Wipro and Infosys ended on a negative note. On the other side, telecom index jumped more than 2 percent due to ADR verdict. Mahindra and Mahindra was in news as they announced their Quarter 4 Results. Their share price jumped more than 7 percent and was one of the top gainers today, closing at Rs 508.45.

 

 

Market update 11th June 2020. Market closes 2% lower, IndusInd Bank gains for 5th consecutive day.

Microfinance Sector Tightens Lending Norms Amid Asset Quality Stress

Market update 11th June 2020. Market closes 2% lower, IndusInd Bank gains for 5th consecutive day.

Market update 11th June 2020. Market closes 2% lower, IndusInd Bank gains for 5th consecutive day.

 

Overall performance:

Today, Indian indices ended on a negative note due to weak performance in Global Cues and AGR case verdict by Supreme Court. While, market was majorly dragged by Metal, IT, Auto, Banking and Finance sector. When market closed, SENSEX was down by 708.68 points or 2.07%, closing at 33,538.37 and NIFTY was down by 214.15 points or 2.12%, closing at 9,902.00 and almost all sector ended on negative note. In Broader markets, the S&P BSE midcap index was down by 178.76 points or 1.41%, closing at 12,480.58 and S&P BSE Small cap decreased by 124.62 points or 1.04%, closing at 11,830.42. While, NIFTY Midcap 100 closed at 14,157.80, down by 184.20 points or 1.28% and NIFTY Small cap 100 closed at 4,398.35 decreased by 38.45 points or 0.87%.

 

Global indices, commodities and currency:

When Indian market closed, all other major indices was trading at a low note except NASDAQ. SGX Nifty was down by 221.50 points or 2.19% and trading at 9,890.00. DAX was trading at 12,288.01, down by 242.15 points or 1.93% and CAC was trading at 4,949.33, decreased by 104.09 points or 2.06%. While, NASDAQ was trading at 10,020.35, up by 66.60 points or 0.67%.

Currently, Gold is trading at 47,170, up by 544.00 points and 1.17%. Silver is trading at 48,870, up by 786.00 points and 1.63% and Crude oil is trading at 2,912 which is decreased by 52.00 points or 1.73%.

At the time of closing of Indian indices, USD was trading at Rs 75.78, increased by 0.26%. EURO was trading at Rs 86.18, up by 0.25% and GBP was trading at Rs 96.09, down by 0.29%.

 

Sector wise performance:

As Market ended on a negative note, losses were seen all the sectors. But among the sectors major decline was seen in Metal, IT, Banking and Auto sector. The S&P BSE Auto index decreased by 293.39 points, S&P BSE IT was down by 243.21 points or 1.64%. While, BSE BANKEX was down by points 671.53 or 2.79% and BSE Metal was down by 207.49 points or 2.85%. When market closed today, NIFTY Bank fell by 574.95 points or 2.72%, closing at 20,525.15 and NIFTY IT decreased by 222.60 points or 1.50%, closing at 14,619.45. While, NIFTY Auto was down by 129.05 points or 1.98% and closed at 6,373.60.

 

Top 5 gainers:

Today, all the indices ended on a negative note. However, six stocks managed to end at positive note. IndusInd Bank which is increasing from last few days, today increased by 23.55 points or 4.71%, closing at Rs 523.15. Hero MotoCorp gained 17.70 points or 0.77% and closed at Rs 2,309.95. Power Grid Corp shares increased by 0.95 points or 0.56%, closing at Rs 171.00, Mahindra and Mahindra was up by 2.50 points or 0.53%, closing at Rs 474.55 and Nestle shares was up by 73.55 points or 0.44% and closed at Rs 16,608.25.

 

Top 5 losers:

Today, shares which declined most were from the Banking and Metal sector. Bharti Infratel declined by 21.90 points or 9.41%, closing at Rs 210.80. Zee Entertainment shares declined by 7.30% or 13.85 points, closing at Rs 175.95. Shares of SBI decreased by 10.55 points or by 5.62%, closing at Rs 177.15. Share price of Sun Pharma fell by 25.50 points or 5.11%, closing at Rs 473.65 and Vedanta declined by 5.05 points or 4.76%, closing at Rs 101.05.

 

Stock in news:

Today, even when market ended on a lower note, six Nifty 50 stocks gained up to 4 percent which includes IndusInd Bank, Hero MotoCorp, Power Grid Corp, Mahindra and Mahindra, Nestle and Bajaj Auto. IndusInd Bank was in news as they continued to gain for 5th consecutive day, mainly after announcement of additional shares purchase by promoters in company. After AGR verdict, many stocks fell which includes Bharti Airtel, Vodafone Idea and Bharti Infratel. Other than these, stocks which were active by volume are Vodafone idea, SBI, BHEL, RBL Bank, Tata Motors, PNB, Bank of Baroda, ICICI Bank, Federal Bank, Ashok Leyland and IDFC First Bank.

 

 

Market update 10th June 2020. Market regains from Tuesday’s losses, Auto sector shares fall.

Govt Lowers Public Float Requirement for IFSC Listings to 10%

Market update 10th June 2020. Market regains from Tuesday's losses, Auto sector shares fall.

Market update 10th June 2020. Market regains from Tuesday’s losses, Auto sector shares fall.

 

Overall performance:

Today, Indian indices witnessed volatile trade but ended on a positive note majorly supported by IT, Bank, Pharma, Energy and Infra sector stocks. When market closed, SENSEX increased by 290.36 points or 0.86%, closing at 34,247.05 and NIFTY was up by 69.50 points or 0.69%, closing at 10,116.20. The S&P BSE midcap index was up by 101.84 points or 0.81%, closing at 12,659.34 and S&P BSE Small cap increased by 108.99 points or 0.92%, closing at 11,955.04. While, NIFTY Midcap 100 closed at 14,342.00 up by 173.35 points or 1.22% and NIFTY Small cap 100 closed at 4,436.80, increased by 22.65 points or 0.51%.

 

Global indices and commodities:

When Indian market closed, almost all the global indices were trading at a negative note. DAX was down by 84.54 points or 0.67% and trading at 12,533.45 and CAC was trading at 5,072.09, down by 23.00 points or 0.45%. While, SGX Nifty was trading at 10,116.50 and increased by 1.05% or 105 points. NASDAQ was trading at 9,953.75 up by 29 points or 0.29%.

Currently, Gold is trading at 46,670 up by 60.00 points or 0.13%, Silver is trading at 48,057 down by 42.00 points and 0.09%. Crude oil is trading at 2,867.00 which decreased by 21 points or 0.73%.

 

Currency:

At the time of closing of Indian indices, almost all currencies were trading at a positive note expect USD. USD was trading at Rs 75.58, decreased by 0.03%. EURO was trading at Rs 85.76, up by 0.21% and GBP was trading at Rs 96.20, up by 0.14%.

 

Sector wise performance:

Among the sectors, major jump was seen in Banking, IT, Finance and Energy sector while major losses was booked by Auto Stocks. The S&P BSE IT index increased by 84.88 points or 0.58% and S&P BSE BANKEX was up by 423.93 points or 1.79%. While, BSE Auto was down by 148.56 points or 1.00%. At the time of closing, NIFTY BANK increased by 375.20 points or 1.81%, closing at 21,100.10 and NIFTY IT was up by 104.25 points or 0.71%. While, NIFTY FMCG decreased by 21.70 points or 0.07%, closing at 29,503.20 and NIFTY Auto fell by 75.05 points or 1.14%.

 

Top 5 gainers:

Share price of IndusInd Bank increased by 35.70 points or 7.70%, closing at Rs 499.60, Hindalco gained 4.35 points or 3.05% and closed at Rs 146.95. Shree Cements shares increased by 503.50 points or 2.40%, closing at Rs 21,513.30. Reliance was up by 35 points or 2.28%, closing at Rs 1,572.15 and Kotak Mahindra’s shares increased by 28.10 points or 2.15% and closed at Rs 1,332.25.

 

Top 5 losers:

Today, shares of Hero MotoCorp declined by 95.05 points or 3.98%, closing at Rs 2,292.25. GAIL declined by 2.97% or 3.00 points, closing at Rs 98.10. Bajaj Auto decreased by 73.95 points or by 2.65%, closing at Rs 2,717.20. Share price of COAL India fell by 3.60 points or 2.49%, closing at Rs 140.70 and Tata Steel declined by 8.20 points or 2.47%, closing at Rs 324.

 

Stock in news:

Most active stocks in terms of volume were Vodafone idea, SBI, PNB, Tata Motors, Ashok Leyland, India Bulls Hsg, Bank of Baroda, Suzlon Energy, Axis Bank, RBL Bank and IDFC First Bank. IndusInd Bank was in news as their shares gained for the 4th straight day and reached nearly at 3 month high, closing at Rs 499.60. JM Financial increased by 3.67 percent today, due to the launch of QIP with indicative issue of Rs 770 crore and closed at Rs 73.50.

Among all the sectors, major gain was seen in Banking and Finance sector today and shares of Kotak Mahindra and Axis Bank increased around 2 to 3 percent. On the other side, as Auto sector ended on negative note, shares like Hero MotoCorp and Bajaj Auto decreased around 3 to 4 percent.

 

 

Market update 9th June 2020. Pharma stocks surge, Dr Reddy’s Labs and IndusInd Bank top gainers.

Cipla Q1 results: Lower Covid-19 drug sales to hamper revenue growth

Market update 9th June 2020. Pharma stocks surge, Dr Reddy's Labs and IndusInd Bank top gainers.

Market update 9th June 2020. Pharma stocks surge, Dr Reddy’s Labs and IndusInd Bank top gainers.

 

Overall performance:

Today, Indian indices ended on a low note as sale of stocks was seen majorly in Banking and Auto sector. While, market was in favour of Pharma stocks. When market closed, SENSEX was down by 413.89 points or 1.20%, closing at 33,956.69 and NIFTY was down by 120.80 points or 1.19%, closing at 10,046.65. Almost all sectors ended on a negative note expect for Pharma and Healthcare.

In Broader markets, The S&P BSE midcap index was down by 26.11 points or 0.21%, closing at 12,557.50 and S&P BSE Small cap decreased by 119.28 points or 1.00%, closing at 11,846.05. While, NIFTY Midcap 100 closed at 14,168.65 down by 54.00 points or 0.38% and NIFTY Small cap 100 closed at 4,414.15 increased by 63.55 points or 1.42%.

 

Global indices, commodites and currency:

When Indian market closed, almost all other major indices was trading at a lower note. SGX Nifty was down by 151.60 points or 1.45% and trading at 10,011.50. NASDAQ was trading at 9,924.75 up by 110.67 points or 1.13% and CAC was trading at 5,068.96, decreased by 106.56 points or 1.06%. While, DAX was trading at 12,551.87 down by 267.72 points or 2.09%.

Currently, Gold is trading at 46,450.00 up by 349.00 points and 0.76%. Silver is trading at 48,187.00 up by 2.00 points and 0.01% and Crude oil is trading at 2,817.00 which decreased by 65.00 points or 2.22%.

At the time of closing of Indian indices, USD was trading at Rs 75.61, increased by 0.09%. EURO was trading at Rs 85.23, up by 0.13% and GBP was trading at Rs 95.69, down by 0.22%.

 

Sector wise performance:

Among the sectors, major gain was seen in Pharma sector and losses was seen in IT, Auto, Metal, Energy, Banking and Financial sector. The S&P BSE Auto index decreased by 88.82 points, S&P BSE IT was down by 71.86 points or 0.48%. While, BSE BANKEX was down by 556.90 points or 2.30%. When market closed today, NIFTY FMCG increased by 22.75 points or 0.08%, closing at 29,524.90 and NIFTY Pharma increased by 182.95 points or 1.84%, closing at 10,122.05. While, NIFTY Bank fell by 462.45 points or 2.18% and closed at 20,724.90.

 

Top 5 gainers:

Most of the gainers were from Pharma sector but some Auto stocks also performed well. Today, Dr Reddys Labs increased by 156.20 points or 3.94%, closing at Rs 4,123.80 and IndusInd Bank gained 12.30 points or 2.72% and closed at Rs 463.90. Sun Pharma shares increased by 11.75 points or 2.40%, closing at Rs 500.75, Mahindra and Mahindra was up by 7.90 points or 1.68%, closing at Rs 478.75 and Bharti Infratel shares was up by 2.80 points or 1.22% and closed at Rs 233.

 

Top 5 losers:

Today, shares which declined most were from the Banking and IT sector. Wipro declined by 8.10 points or 3.58%, closing at Rs 218.35. GAIL shares declined by 3.48% or 3.65 points, closing at Rs 101.10, Tata Motors shares were decreased by 4.00 points or by 3.46%, closing at Rs 111.45. Share price of BPCL fell by 12.60 points or 3.20%, closing at Rs 381.50 and ICICI Bank declined by 11.25 points or 3.13%, closing at Rs 348.55.

 

Stock in news:

Stocks which were active by volume includes were Vodafone idea, SBI, BHEL, RBL Bank, Tata Motors, PNB, Trident, Tata Powers, ICICI Bank, Federal Bank, Ashok Leyland and IDFC First Bank. Today, even when market ended on lower note, some stocks from Auto and Pharma sector gained around 2 to 4 percent. Mahindra and Mahindra was in news as their share price increased by 7.90 points, closing at Rs 478.75. Sun Pharma gained 11.75 points and Dr Reddys Labs gained 156.20 points and touched 52 week high, closing at Rs 4,123.80. ICICI Bank was in news because their shares price decreased by 11.25 points and closed at Rs 348.55 and banking stocks such as Kotak Mahindra, Axis Bank and HDFC Bank also fell around 2 to 3 percent.

 

 

Market update 8th June 2020. Bank and IT sector help Indices to close with minor gains.