Profit street blog | stock and commodity market news

In an interview with Nikunj Dalmia and Ayesha Faridi of ET Now, Nilesh Shah, MD, Kotak AMC, points out that today India is in a sweet spot and people are positive India on a top-down basis. All they need is an anchor to pick up stocks on a bottom-up basis. Just a little amazed with the way realty has been moving. It has been a great performer all of last year and it continues to be so. Do you have conviction in real estate and for someone who has completely missed out on the rally, is there still time to jump in and hop on to the bus? When you come down from100 to 10, it is a drop of 90% and then you climb from 10 to 20, it is a gain of 100%. But you are still down 80% from the top. Probably something similar is happening in real estate stocks. There was a time when only one real estate company’s market cap in 2008 was bigger than entire pharma sector’s valuation. Today the tide has reversed. Just one pharma company’s valuation is bigger than entire real estate sector put togethe...

Commodities, both agri and non-agri, witnessed a slump in prices this week. In the agri commodity basket, coriander suffered the most, while in the non-agri category prices of crude oil, gold, copper and nickel slipped significantly.  Crude oil prices have been in a falling territory since past few weeks as prices have declined by around 3.2 per cent since 19th April- 1st May 2017, while MCX oil prices have declined by 4.5 percent in the same time frame. Fading geo-political tension between US and Syria and US and North Korea and increasing oil inventories in the US have resulted in a drop in prices.  "We have noticed fall in all the risk assets including oil as market sentiments remains weak across the globe. Linkage international prices and domestic prices will not change any basic fundamentals, except the adaptation of price behaviour linked to markets. Oil inventories have to fall constantly, which can only happen if the summer driving season starts with a bang ...

The INDIA VIX is down 1.5% at 11.3. The S&P BSE Sensex is trading at 30,114 up 219 points while NSE Nifty is trading at 9350 up 38 points.the BSE Auto index is the top losing index post lunch hours on BSE. It is trading 0.56% down at 22,768.The stock of Tata Motors is contributing to the index losses and dragging it to lower levels. It is trading down 1.9% at Rs 437 on BSE. Other stock such as Bharat Forge is trading down by 2.8% at Rs 1116, Eicher Motors is down by 1% at Rs 25,635 and Mahindra & Mahindra is down by 0.7% at Rs 1337.The Exide Industries is trading 4.9% up at Rs 233 in the BSE Auto index.Other buzzing stocks of the day are ITC, ICICI Bank, TIL and Sudarshan Chemical Industries which are trading in green. Fertiliser stocks such as FACT, NFL, RCF and Coromandel International also surged.At 3 PM, the S&P BSE Sensex is trading at 30,114 up 219 points while NSE Nifty is trading at 9350 up 38 points. A total of 122 stocks registered a fresh 52-week hig...

The domestic equity market was trading rangebound in late morning trade, but there were plenty of stocks that caught investors’ fancy on Wednesday.  Most active stocks in terms of volume  ICICI Bank (number of shares traded: 0.62 crore), DLF (0.46 crore), PNB (0.46 crore), PowerGrid (0.36 crore), Vedanta Ltd (0.33 crore), Hindalco Inds. (0.31 crore), ONGC (0.27 crore), Bank of Baroda (0.26 crore), SBI (0.26 crore), Axis Bank (0.21 crore), Ashok Leyland (0.21 crore), Tata Motors (0.20 crore), ITC (0.20 crore), Idea Cellular (0.18 crore), HDFC (0.17 crore), NMDC (0.16 crore), PFC (0.16 crore), JSW Steel (0.15 crore), SAIL (0.14 crore) and Indiabulls Housing Finance (0.14 crore) were among the most traded securities on the National Stock Exchange in Wednesday ’s session till 11.30 am (IST).  Most active stocks in terms of value  HDFC (Rs 270.62 crore), TCS (Rs 189.66 crore), ICICI Bank (Rs 169.99 crore), Indiabulls Houging Finance (Rs 153.56 crore), Cumm...

  Gold prices fell by 0.94% on Tuesday in the physical market to Rs 28,800 per 10 gm from Rs 29,075 per 10 gm on Monday giving the Indians a chance to buy gold even after Akshay Tritiya that saw gold demand going up by 15% -30% on last Friday.  In the international market, gold prices on Tuesday were near three-week lows hit in the previous session on diminishing demand for safe-haven bullion as Asian equities rallied and the US dollar gained versus the yen. Spot gold was mostly unchanged at $1,256.77 per ounce.  The Indian rupee on Tuesday strengthened against the US dollar, tracking gains in the Asian currencies markets. The rupee opened at 64.14 a dollar and touched a high of 64.12. At 9.15am, the rupee was trading at 64.15 a dollar, up 0.15% from its Friday’s close of 64.25. On Monday, markets were closed due to World Labour Day. At around 1 pm rupee was trading at64.18 against dollar. Contact us: - +91-9913158794 Or visit:- http://www.profitstreet.in/...

Indian equity , forex, money and commodity markets will remain closed today on account of Labour Day/Maharashtra Day.The benchmark indices on Friday settled lower as investors booked profits in index heavyweights such as ITC and HDFC ahead of a long weekend, but posted their biggest weekly gain in six weeks. The S&P BSE Sensex ended at 29,918 down 111 points, while the broader Nifty50 closed at 9,304, down 38 points.  In the broder market, the S&P BSE Midcap and S&P BSE Smallcap indices outperformed to gain 0.2% and 0.6%, respectively.Asian stocks shook off a sluggish start and steadied on Monday, with Japan outperforming on upbeat earnings, while the dollar regained traction as the US government looked likely to avoid a shutdown. MSCI's broadest index of Asia-Pacific shares outside Japan was largely flat. Japan's Nikkei added 0.4%, with high-tech blue chips gaining on strong earnings.Many markets in Asia and Europe are also closed for Labour Day. ...

The INDIA VIX is down 3.9% at 11.2. the S&P BSE Sensex is trading at 30,103 down 30 points while NSE Nifty is trading at 9358 up 6 points. The BSE Metal index is the top losing index post lunch hours on Thursday, with Tata Steel and Hindalco together majorly contributing to the index losses and dragging it to lower levels.   The index is trading at 11167 down by 0.76%.The stocks that are dragging the index down are NMDC, Tata Steel, Hindustan Zinc, Hindalco and JSW Steel. NMDC is trading down by 2%, Tata Steel is down by 1.5%, Hindustan Zinc is down by 1.2%, JSW Steel is down by 1% and Hindalco is down by 0.94%.   The only stock in the index that is trading in green is Vedanta. The stock is up by 0.19% at Rs 234.  At 3 PM, the S&P BSE Sensex is trading at 30,103 down 30 points while NSE Nifty is trading at 9358 up 6 points. A total of 82 stocks registered a fresh 52-week high in trade today, while 18 stocks touched a new 52-week low on the NSE.  ...