Gold plummets on prospects of ECB

Prices of gold tanked on Friday’s trade after a European Central Bank (ECB) official called for scaling back the bank’s stimulus program, although losses were capped when weaker-than-expected U.S. economic data raised questions about further interest rate hikes.

Spot gold was down 0.6% at USD 1,321.88 an ounce, on track for its biggest weekly decline since early July.

U.S. gold futures for December delivery settled down 0.3% at USD 1,325.20 an ounce.

The Fed’s two-day monetary policy meeting begins on September 19, 2017. A leading research agency said August gold imports into India, the world's second-biggest gold consumer were the lowest so far this year. In other precious metals, platinum's discount to gold fell to around USD 360.

Platinum dropped 1% to USD 969 an ounce after touching USD 959.95, the lowest since Aug. 16. This is also around where the 50-day moving average crossed above the 200-day moving average. The metal was down 3.7% for the week, on track for its biggest weekly drop since March.

Silver fell 0.8% to USD 17.61 and was set to mark its first weekly decline in four.

Palladium rose 0.2% to USD 924.10 and was heading for a second weekly decline..

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Stocks close to their 52-w low on Friday

Benchmark index BSE Sensex is trading at 32,192.29, down by 49.64 points or 0.15%; while Nifty is trading at 10,060.35, down by 26.25 points or 0.26% on Friday.

Following stocks are close to their 52-week low on the NSE as at 1.10 pm on September 15: -

Company Name	Last traded price (LTP) (Rs)	52 – W low (Rs)	% to 52-W Low
PASHUPATI	75.05	75	0.07
ZENSARTEC	771	770	0.13
IL&FSENGG	36.80	36.70	0.27
GEEKAYWIR	33.30	33.10	0.60

While the BSE Mid-Cap index is trading down by 0.33% at 15,963.47; and BSE Small-cap Index is trading down by 0.05% at 16,616.22..

 

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Opening Bell - Markets open lower

At 09:15 AM, Nifty opened at 10,062 level, down by 24 points while Sensex opened at 32,207 level, down by 34 points.

Bharti Infratel is top Nifty gainer, trading at Rs 373.45 per share, up by 0.92% while Lupin is top Nifty loser, trading at Rs 991.75 per share, down by 1.24%.

Nifty50 index is facing stiff resistance around the levels of 10,130-10,140, and if Nifty sustains above this level, a fresh upmove may be seen. On the downside, the level of 10,040 may act as an immediate support, with the next support seen around 10,000 level.

The rupee opened at 64.14 per USD.

The Dow Jones Industrial Average rose 45 points to settle at 22,203. The Nasdaq Composite Index lost 31 points to close at 6,429. The S&P 500 edged down 3 points to finish at 2,496.

Markets in Asia are jittery in early trade on Friday after a report of North Korea firing a ballistic missile across Japan. Japan’s Nikkei 225 has gained 0.12%, while Hong Kong's Hang Seng has plunged 0.69% and China’s Shanghai Composite has shed 0.54%..

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Stocks close to their 52-w high on Thursday

 

 

 

 

 

 

 

 

 

 

 

 

 

Benchmark index BSE Sensex is trading at 32,198.68, up by 12.27 points or 0.04 %; while Nifty is trading at 10,076.60, down by 2.70 points or 0.03% on Thursday.

Following stocks are close to their 52-week high on the NSE as at 1 pm on September 14: -

Company Name	Last traded price (LTP) (Rs)	52 – W High (Rs)	% to 52-W High
BHARATFOR	1246.20	1247.45	0.10
HDFCBANK	1840.80	1849	0.45
RAMASTEEL	167.55	168.30	0.45
BAJAJELEC	385.60	387.40	0.47

While the BSE Mid-Cap index is trading up by 0.35% at 15,982.11; and BSE Small-cap Index is trading up by 0.55% at 16,609.88..

 

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August WPI inflation rises to 3.24%

 The annual rate of inflation, based on monthly WPI, stood at 3.24% (provisional) for the month of August, 2017 (over August,2016) as compared to 1.88% (provisional) for the previous month and 1.09% during the corresponding month of the previous year. Build up inflation rate in the financial year so far was 1.41% compared to a build-up rate of 3.25% in the corresponding period of the previous year.

WPI inflation consists of primary articles (weight 22.62%), fuel and power (weight 13.15%) and manufactured products (weight 64.23%).

The index for Primary Articles rose by 1.9 percent to 134.9 (provisional) from 132.4 (provisional) for the previous month. The index for Fuel & Power group rose by 0.9 percent to 89.2 (provisional) from 88.4 (provisional) for the previous month. The index for Manufactured Products group rose by 0.2 percent to 112.9 (provisional) from 112.7 (provisional) for the previous month.

The rate of inflation based on WPI Food Index consisting of Food Articles from Primary Articles group and Food Product from Manufactured Products group increased from 2.12% in July, 2017 to 4.41% in August, 2017.

WPI inflation data for the month of September is scheduled to release on October 16, 2017..

 

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TCS Japan launches ignio, AI for IT operations

Tata Consultancy Services (TCS), a leading global IT services, consulting and business solutions organization, announced the launch of ignio in Japan, the company’s award-winning cognitive automation solution for IT operations.

Ignio’s pre-built knowledge on IT applications and infrastructure enables it to focus on delivering smarter and faster decision-making by building contextual awareness of the business environment in which it is deployed.

The resulting clarity in the state of IT operations allows enterprises to predict and prevent problems with greater speed and accuracy and produce marked improvements in operational efficiency, thus allowing organizing to become more agile, robust and productive.

The stock was trading down by 0.56% at Rs 2,474 per share on BSE at 1147 hours. It opened at Rs 2,490 per share. It touched its intraday high and low at Rs 2,497.45 per share and Rs 2,473.05 per share, respectively.

The stock has attracted a total traded volume of 1,76,005 shares and traded value of Rs 4,379.16 lakh on NSE at 1150 hours. Its 52-week high stood at Rs 2,708.95 as on June 06, 2017 and 52-low at Rs 2,051.90 as on November 15, 2016.

 

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Persistent Systems trades positive

Persistent Systems was trading at Rs 621 per share, up by Rs 2.35 or 0.38% as at 0944 hours on Thursday, on the BSE. The stock attracted a traded volume of 3,072 shares and traded value of Rs 19.07 lakh on the NSE.

Persistent Systems has joined hands with the Ohio Dept of Commerce to design and build the e-licensing system for tracking various industry licenses required by the Ohio Medical Marijuana Control Program.

The system is expected to live early in 2018, will integrate with state’s larger e-licensing platform as well as state’s payment gateway (CBBOSS). Persistent will leverage its collaborative development center in Dublin, Ohio to set up the team, said the company in a BSE filing on Wednesday post market hours.
 
Persistent Systems Limited is engaged in the business of building software products. The company offers complete product life cycle services. Its segments include Infrastructure and Systems, Telecom and Wireless, Life science and Healthcare, and Financial Services..

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Opening Bell - Nifty & Sensex open higher; Wipro down by nearly 4%

At 09:15 AM, Nifty opened at 10,107 level, up by 28 points while Sensex opened at 32,289 level, up by 103 points.

BPCL is top Nifty gainer, trading at Rs 522.65 per share, up by 4.49% while Wipro is top Nifty loser, trading at Rs 284.2 per share, down by 3.94%. There were 952 advances, 426 declines and 447 unchanged stocks on NSE reflecting strong positive sentiments floating in the market.

Nifty has immediate resistance in the zone of 10,088-10,100, followed by 10,140-10,150. On the other hand, if Nifty continues to correct from current levels, the zone of 10,040-10,020 may act as a support level for the Nifty.

The rupee opened at 64.17 per USD.

The Dow Jones Industrial Average gained 39 points to end at 22,158. The Nasdaq Composite Index advanced 6 points to finish at 6,460 and the S&P 500 inched up 2 points at 2,498.

Asian stocks were seen trading subdued in early trade on Thursday. The Japan’s Nikkei 225 has climbed 17 points and China’s Shanghai Composite has risen 7 points, while Hong Kong's Hang Seng has shed 52 points..

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SEBI appoints committee to curb non-compliance by listed companies

Nifty PSU bank was trading in a positive territory with almost all its stocks trading in a green zone during the Wednesday’s trading session.

Nifty PSU bank was trading higher by 1.24% at 3,301 level on NSE at 1019 hours. Whereas, the major benchmark indices Sensex was trading higher by 63 points at 32,217 level and Nifty 50 was trading up by 18 points at 10,111 level.

Orient Bank was the top gainer in the index, trading up by 3.63% at Rs 131 per share. Syndicate Bank was trading higher by 2.85% at Rs 66 per share. Bank of Baroda was trading up by 2.43% at Rs 145 per share. Union Bank was trading up by 2.12% at Rs 137 per share.

Bank of India, Andhra Bank, PNB, Allahabad Bank and Canara Bank were also trading in a positive tone. Bank of India was trading up by nearly 2% at Rs 148 per share, Andhra Bank was trading up by 1.82% at Rs 53 per share, PNB was trading up by 1.52% at Rs 143 per share, Allahabad bank was trading up by 1.82% at Rs 70 per share and Canara Bank was trading up by 1.43% at Rs 343 per share. SBI and IDBI Bank were trading nearly 1%..

 

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Nifty PSU Bank at day’s high

Nifty PSU bank was trading in a positive territory with almost all its stocks trading in a green zone during the Wednesday’s trading session.

Nifty PSU bank was trading higher by 1.24% at 3,301 level on NSE at 1019 hours. Whereas, the major benchmark indices Sensex was trading higher by 63 points at 32,217 level and Nifty 50 was trading up by 18 points at 10,111 level.

Orient Bank was the top gainer in the index, trading up by 3.63% at Rs 131 per share. Syndicate Bank was trading higher by 2.85% at Rs 66 per share. Bank of Baroda was trading up by 2.43% at Rs 145 per share. Union Bank was trading up by 2.12% at Rs 137 per share.

Bank of India, Andhra Bank, PNB, Allahabad Bank and Canara Bank were also trading in a positive tone. Bank of India was trading up by nearly 2% at Rs 148 per share, Andhra Bank was trading up by 1.82% at Rs 53 per share, PNB was trading up by 1.52% at Rs 143 per share, Allahabad bank was trading up by 1.82% at Rs 70 per share and Canara Bank was trading up by 1.43% at Rs 343 per share. SBI and IDBI Bank were trading nearly 1%..

 

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Opening Bell - Nifty opens tad below 10,100

At 9:15 AM, the BSE Sensex opened higher by 30 points at 32,188, while the Nifty50 opened higher by 6 points at 10,099 mark.

Tata Power is top Nifty gainer trading at Rs 84.4 per share, up by 4.2% whereas Larsen & Toubro is top Nifty loser trading at Rs 1,222.15 per share, down by 0.66%. There were 836 advances, 517 declines and 472 unchanged stocks on NSE reflecting

Nifty has resistance placed around the levels of 10,135-10,140 and if it manages to hold above these levels, it may scale higher up to the level of 10,200. On the flip-side, supports are seen around 10,040 and 10,000 levels.

The rupee opened at 63.98 per USD.

The Dow Jones Industrial Average rose 62 points to end at 22,119. The Nasdaq Composite Index climbed 22 points to finish at 6,454 and the S&P 500 gained 8 points at 2,496.

Asian stocks were trading mixed in early trade on Wednesday. The Japan’s Nikkei 225 has advanced 0.45%, while Hong Kong's Hang Seng has slipped 0.55% and China’s Shanghai Composite has fallen 0.12%..

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Top open interest losers on Tuesday

 

 

 

 

 

 

 

 

 

 

 

 

 

Open interest and share prices of DHFL, Ajanta Pharma and Ramco Cements have witnessed short covering positions during Tuesday’s trade.

Following were the top open interest losers:

Stock Symbol	OI Change (%)	Share Price  Change (%)
JPASSOCIAT	(4.08)	(4.58)
AJANTPHARM	(3.41)	1.01
DHFL	(2.62)	1.19
MFSL	(1.63)	(0.30)
RAMCOCEM	(1.00)	0.16

Jaiprakash Associates and Max Financial Services has witnessed long build up positions during Tuesday’s trade.

Dewan Housing Finance Corporation traded on a fresh 52 week high of Rs 564.40 per share on NSE.

Sectoral indices on NSE were trading with positive sentiments wherein Nifty Realty was the top gainer and Nifty IT was the only loser.

Broader market indices were trading positive wherein BSE Midcap index was trading higher by 0.84% at 15,998 and BSE Small cap index was trading higher by 0.93% at Rs 16,604 level.

 

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Atul Auto inks pact with Greaves Cotton; stock edges higher

Atul Auto edged higher on bourses on Tuesday’s intraday trade after entering into an agreement with Greaves Cotton. The company has inked a pact with Greaves Cotton for power train solutions, reported a leading business daily.

The stock of Atul Auto gained 3.82% at Rs 493.90 per share on BSE attracting a total traded quantity of 0.29 lakh shares. The stock has a return on equity of 29.65% for 3 years and has been maintaining a dividend payout of 26.88%. The stock on yearly basis has given 13.82% returns and has underperformed BSE Small cap index and outperformed BSE Auto index.

Atul Auto Limited is a manufacturer of three-wheeled commercial vehicles in the state of Gujarat. The company is a three-wheeler manufacturer of auto rickshaws, pick-up vans and chassis of passenger vehicles. It offers a range of diesel and compressed natural gas.

Meanwhile, BSE Auto index gained 0.24% at 24,265 level, majorly contributed by Mahindra and Mahindra and Tata Motors..

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Redington hits record high ahead of new iPhone launch

The stock of Redington (India) was buzzing on the bourses as the stock hit a record high during Tuesday’s trade on the BSE ahead of new iPhone launch.

Redington is the authorised distributor for Apple’s iPhone. Another authorised distributor of Apple products, HCL Infosytems was also witnessing an upward momentum during Tuesday’s trade.

The stock of Redington traded on a new 52-week high value of Rs 166 during Tuesday’s trade on the BSE and the stock witnessed a spurt in volume by more than 2.31 times. The stock was trading at Rs 162.20 per share, up by Rs 3.25 or 2.04% as at 1055 hours on Tuesday, on the BSE.

Redington (India) Limited is an India-based company, which operates in the information technology product distribution business, supply chain solutions and after sales services of information technology products.

While, HCL Infosytems was trading at Rs 52.75 per share, up by Rs 1.95 or 3.84% and the stock witnessed a spurt in volume by more than 2.79 times.

Apple’s much-awaited flagship product, iPhone 8 is expected to be unveiled on Tuesday, September 12 in California by the company’s CEO Tim Cook.

 

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Opening Bell - Nifty opens above 10,050; Sensex above 32K

At 09:15 AM, the Nifty50 index has opened at 10,056 level, up by 50 points while the Sensex index has opened at 32,029 level, up by 147 points.

Tata Steel is top Nifty gainer trading at Rs 681 per share, up by 2.78% while Bharti Infratel is top Nifty loser trading at Rs 364.55 per share, down by 1.34%. There were 995 advances, 404 declines and 442 unchanged stocks on NSE reflecting positive undertone floating in the market.

On the upside, the levels of 10,060 and 10,080 may act as resistance zones, whereas on the downside, the levels of 9,970-9,980 may act as an immediate support zone.

Rupee opens at 63.98 per USD vs Monday's close of 63.93 per USD.

The Dow Jones Industrial Average surged 260 points to close above the important psychological 22,000-mark. The Nasdaq Composite Index rose 72 points to finish at 6,432 and the S&P 500 rallied 27 points to close at 2,488. 

Asian markets' benchmarks were mostly higher in early trade on Tuesday following gains on Wall Street. The Japan’s Nikkei 225 has gained 0.99%, whereas Hong Kong's Hang Seng and China’s Shanghai Composite are trading flat.

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Opening Bell - Nifty opens above 10,050; Sensex above 32K

At 09:15 AM, the Nifty50 index has opened at 10,056 level, up by 50 points while the Sensex index has opened at 32,029 level, up by 147 points.

Tata Steel is top Nifty gainer trading at Rs 681 per share, up by 2.78% while Bharti Infratel is top Nifty loser trading at Rs 364.55 per share, down by 1.34%. There were 995 advances, 404 declines and 442 unchanged stocks on NSE reflecting positive undertone floating in the market.

On the upside, the levels of 10,060 and 10,080 may act as resistance zones, whereas on the downside, the levels of 9,970-9,980 may act as an immediate support zone.

Rupee opens at 63.98 per USD vs Monday's close of 63.93 per USD.

The Dow Jones Industrial Average surged 260 points to close above the important psychological 22,000-mark. The Nasdaq Composite Index rose 72 points to finish at 6,432 and the S&P 500 rallied 27 points to close at 2,488. 

Asian markets' benchmarks were mostly higher in early trade on Tuesday following gains on Wall Street. The Japan’s Nikkei 225 has gained 0.99%, whereas Hong Kong's Hang Seng and China’s Shanghai Composite are trading flat..

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European markets open in green

European stock markets opened higher during the early hours of trade on Monday, while traders monitored the economic impact of Hurricane Irma that hit the US coastline.

FTSE 100 index was trading at 7,408 levels, up by 32.12 points, CAC 40 index was trading at 5,154 levels, higher by 40.71 points, while the German DAX was at 12,397 levels, up by 93.99 points. While the pan-European Stoxx 600 was lower by 0.46%.

Hurricane Irma has approached the Tampa Lakeland area and is still currently a category 2 hurricane. Over 4 million homes and businesses in the state of Florida are without power, according to major US utility companies.

Asian stock market rallied on Monday after no North Korea missile was launched on September 9, 2017.

In the business world, UK football team Manchester United is likely to present its fourth quarter and full-year earnings results on Monday.

On the data front, Norway is likely to present its inflation rate for August, while Italy will reveal its year-on-year industrial production growth in1947.

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Generic Engineering bags order worth Rs 63 crore

The share of Generic Engineering Construction and Projects climbed by over 2% during Monday’s trading session after the company informed that it has bagged an order worth Rs 63 crore.

The company informed in the filing to the bourses on Monday that it has been awarded two projects from various reputed clients namely Golden Reality (Affordable Housing Project) and Aadi Properties LLP (Finishing work) of Rs 4,100 lakh and Rs 2,200 lakh, respectively.

Meanwhile, the stock was trading up by 2.62% at Rs 150 per share on BSE at 1131 hours. It opened at Rs 149.25 per share. The stock witnessed a spurt in volume by more than one times and also it hits fresh 52-week high at Rs 153 per share.

Generic Engineering Construction and Projects Limited, formerly Welplace Portfolio & Financial Consultancy Services Limited, is engaged in construction business. The company is engaged in the business of developers, builders, masonry and general construction contractors, estate agents, booking agents, erectors, repairers, constructors of buildings, houses, apartments, factories, hospitals and others..

 

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IRB Infrastructure’s Kaithal tollway project ahead of schedule

IRB Infrastructure Developers announced that Kaithal - Rajasthan Border BOT Project implemented by wholly-owned SPV of the Company viz. Kaithal Tollway (SPV), has been issued a Provisional Certificate by the Competent Authority effective September 6, 2017.

Consequently, the SPV has started partial toll collection on this project from September 8, 2017; four months ahead of the scheduled commercial operation date, the company said in a filing to the bourses on Monday.

The project is for four-laning of Kaithal-Rajasthan border section of NH-152/65 from 33,250 km to 241.580 km (design length 166 km) in the state of Haryana. The concession period of the project is 27 years including construction period of 2.5 years. The cost of the project is Rs 2,290 crore.

Meanwhile, the stock of IRB Infrastructure Developers was trading down by 2.19% at Rs 212 per share on BSE at 1013 hours. The stock opened at Rs 215.90 per share. It touched its intraday high and low at Rs 216 and Rs 212 per share, respectively.

The stock has attracted a total traded volume of 5,63,674 shares and traded value of Rs 1,204.35 lakh on NSE at 1014 hours. Its 52-week high stood at Rs 272.65 as on May 3, 2017 and 52-week low at Rs 177.45 as on November 23, 2016..

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IndusInd Bank and Bharat Financial sign exclusivity agreement

IndusInd Bank announced that the company has entered into a ‘Confidentially, Exclusivity and Standstill Agreement’ (Exclusivity Agreement) with Bharat Financial Inclusion Limited (BFIL).

The Exclusivity Agreement provides for a mutually agreed exclusivity period for due diligence and discussions to evaluate a potential strategic combination between the company and BFIL by way of amalgamation through a Scheme of Arrangement, or any other suitable structure, said the company in a BSE filing on Monday.

The potential transaction would be subject to due diligence, agreement on the appropriate transaction structure, definitive documentation and board, shareholders, regulatory, NCLT and other third-party approvals, as applicable, it added.

The swap ratio for the IndusInd Bank and Bharat Financial Inclusion has not been revealed yet. One should keep an eye on the swap ratio as per valuation point of view.

The stock of IndusInd Bank was up by 1.27% at Rs 1,718 per share in pre-opening session on Monday, on the BSE. Whereas Bharat Financial Inclusion was up 0.86% at Rs 944.

 

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Opening Bell - Markets open higher

At 9:15 AM, the BSE Sensex opened higher by 111 points at 31,798, while the Nifty50 opened higher by 37 points at 9,971 mark.

Bank of Baroda is top Nifty gainer trading at Rs 139.15 per share, up by 1.72% while Vedanta is top Nifty loser trading at Rs 326.15 per share, down by 1.2%. Bank Nifty is trading at 24,505 level, up by 134 points or 0.55%.

Nifty has a cluster of resistance in the zone of 9,980-10,000. Successful breakout of this resistance zone may unfold a fresh leg of up-move towards the levels of 10,080 and 10,140. On the other hand, support is seen around 9,880 and 9,850 levels.

On the broader markets, BSE Mid-cap index is trading at 15,833 level, up by 0.5% while BSE Small-cap index is trading at 16,393 level, up by 0.42%.

Indian rupee opened weak at 63.91 per USD.

The US stocks ended Friday’s session on a mixed note, with both the S&P 500 and the tech-heavy Nasdaq Composite ending the session in the red, whereas the Dow Jones Industrial Average eked out modest gains. The Dow Jones Industrial Average gained 13 points to close at 21,798. The Nasdaq Composite Index fell 38 points and the S&P 500 slipped 4 points to 2,461.

Asian stocks edged higher in early trading on Monday. Japan’s Nikkei 225 is leading with gains of 1.44%, followed by Hong Kong's Hang Seng and China’s Shanghai Composite which have gained 0.95% and 0.21%, respectively.

 

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GST Council meeting to be held today

The goods and services tax (GST) Council will meet in Hyderabad on Saturday to consider the nitty-gritty of the cess on large cars and examine demands for relief on branded agricultural produce and a few other items of mass consumption.

The Council likely to discuss rate revision demand of Handicraft Industry. The Council will also take up certain changes in laws and rules in Central Goods and Services Tax (CGST) and State Goods and Services Tax (SGST).

GST Council also likely to discuss issue of branded, Non-branded food items. The council will consider the reduction and exemption of GST on several household items such as brooms, clay idols and saree ‘falls’ besides new guidelines for packaged and branded food products.

The GST Council is likely to keep the overall tax incidence on motor vehicles below 50%, according to the leading news agency.

The Council will also review the impact of GST on prices of goods and consider lowering or scrapping the levy on household items such as rubber bands, computer monitors of up to 20 inches, khadi fabric and garments, apart from those mentioned earlier..

 

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Oil prices remain firm after a week of sharp gains

Oil prices remained firm on Friday after almost a week of sharp gains as Hurricane Irma moved towards Florida through the Carribean.

Irma is the second major hurricane to approach the United States in two weeks and has already killed 14, flattening whole islands. Hurricane Harvey shut a quarter of US refineries and 8% of US oil production.

Baker Hughes reported on Friday that the number of US oil drilling rigs declined by 3 to 756, the third drop in four weeks.

US West Texas Intermediate light crude oil settled down 3.28%, or USD 1.61, at USD 47.48.

Brent found some support from news that Saudi Arabia will cut crude oil allocations to its customers worldwide in October by 350,000 barrels per day (bpd).

US crude fell as a result of low refining activity following Harvey, which sharply reduced demand for crude oil.

Harvey’s impact was also felt in oil production. US oil output fell by almost 8% from 9.5 million barrels per day (bpd) to 8.8 million bpd, according to the Energy Information Administration (EIA).

 

 

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US markets end lower

The Dow Jones industrial average fell 189.77 points for the week while the S&P 500 fell 0.61% over the same period. The Nasdaq composite dropped 1.17% since Tuesday. Markets were closed on Monday for Labor Day.

In Friday’s trading, the S&P 500 fell 0.15% to close at 2,461.43, with energy and information technology contributing the largest losses. The Nasdaq composite fell 0.59%, settling at 6,360.19, with large-cap IT stocks Apple and Google-parent Alphabet both down.

Irma was downgraded from a category 5 to a category 4 early on Friday, but the head of the Federal Emergency Management Agency (FEMA) warned that the storm will devastate the parts of the country.

The storm lashed the Caribbean with devastating winds and torrential rain, leaving behind 14 deaths and a swathe of catastrophic destruction.

US wholesale inventories rose more than expected in July, nearly matching its biggest gain in six months recorded in June.
The Commerce Department reported 0.6% increase in wholesale inventories in July, more than the 0.4% increase expected by economic..

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DDA Housing Scheme 2017 update

Only 8,000 applications have been received for the 11,000 flats earmarked for the lower income group (LIG) under the Delhi Development Authority (DDA) Aawasiya Yojana, according to the leading news agency. The deadline for applications is just four days away. DDA Aawasiya Yojana 2017 was open from June 30, 2017 and will remain open to September 11, 2017.

The affordable housing scheme that was meant for residents of Delhi and the surrounding metropolitan region saw 20,000 applications filed in all. This compares with over 10 lakh applications received the last time the scheme was announced in September 2014.

The main objective was to provide a pucca house for every family in urban connection with water connection, toilets, electricity supply and complete access. When the scheme was first inaugurated in 2014, it was to give out up to 12,000 houses in areas all over in the city, which are provided on a freehold basis over various income groups.

The system is lot based, and applicants can fill up to seven options. People can inspect the flats before the applying. This can be done online or offline. The scheme is credit-linked. Bank loans are provided with an interest rate of 6.5% for a period of 20 years for the Economically Weaker Sections (EWS)..

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NBCC should become USD 3 billion company: Minister

The newly appointed Minister of Housing and Urban Affairs, Hardeep Singh Puri, recently urged the public sector enterprise NBCC (India) Limited to work towards becoming a USD 3 billion company.

According to media reports, top government officials closely associated with the discussions disclosed that the Singh has asked NBCC “to think even bigger and increase its international profile in the context of the construction sector having been opened to FDI and consider getting listed on foreign bourses, being a USD 3 billion company”.

NBCC, is a Navratna organisation, the stock has recorded a hike in its share prices by over 80% in the last one year. The company had also posted an order book of over Rs 36,000 crore till March 2016.

At 1520 hours, the stock stood at Rs 208.50 per share, down by 0.86% on the NSE on Friday. The stock had hit an intraday high of Rs 211.30 per share at 1000 hours and an intraday low of Rs 208.40 per share on the NSE.

 

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Jaguar Land Rover retail sales up by 4.3% in August on Y-o-Y basis

Tata Motors is witnessing choppy trade on the bourses in first trading half of the Friday. The was trading marginally lower by 0.12% at Rs 378.45 per share as of 1137 hours. Nifty Auto index was trading at 10,845 level, marginally up by 0.07%.

Total retail sales for Jaguar Land Rover were 38,519 vehicles in August, up 4.3% compared to August 2016 primarily reflecting the introduction of the new Range Rover Velar and the long wheel base Jaguar XFL in China as well as continuing strong sales of Discovery Sport and F-PACE.

By market, retail sales were up 29.9% year-on-year in China and 2% in North America which more than compensated for lower retails in the UK (down 11.7%) where total passenger car sales trended lower, in Europe (down 9.4%) and in Overseas markets (down 5.4%) reflecting general economic conditions there.

 Jaguar retail sales reached 10,960 vehicles in August, up 0.8% on August 2016, driven by the introduction of the long wheel base Jaguar XF in China and continuing solid sales of F-PACE. Land Rover retailed 27,559 vehicles in August, up 5.8% year on year, reflecting the introduction of the new Range Rover Velar and continuing strong sales of the Discovery Sport and Range Rover.

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Pharma stocks under pressure; Nifty Pharma down nearly 2%

The pharma stocks were witnessing a downward momentum during intraday trade on Friday as the Nifty Pharma index was trading down by nearly 2%. Dr. Reddy’s Laboratories was the top loser of the index and the stock plunged over 5%.

The Nifty Pharma index was trading at 8,796.10 level, down by 152 points or 1.71% as at 1054 hours on Friday. Dr. Reddy’s Laboratories was trading at Rs 2,114.65 per share, down by Rs 110.30 or 4.96%. The stock attracted a traded volume of 6,10,805 shares and traded value of Rs 13,228.26 lakh.

Among others, Glenmark Pharmaceuticals was down 3.20% at Rs 579, Sun Pharmaceutical Industries was down 2.01% at Rs 470.80, Cadila Healthcare was down 1.77% at Rs 502.10, Lupin was down 1.65% at Rs 962.40, Cipla was down 0.76% at Rs 550.

Piramal Enterprises, Aurobindo Pharma, GlaxoSmithKline Pharmaceuticals and Divi’s Laboratories was trading in green territory.

Meanwhile, Nifty was trading at 9937.30 level, up by 7.40 points or 0.07%..

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Opening Bell - Markets open higher; Eicher Motors top Nifty gainer

At 9:15 AM, the BSE Sensex opened higher by 32 points at 31,694, while the Nifty50 opened higher by 28 points at 9,958 mark.

Eicher Motors is top Nifty gainer trading at Rs 33,271.65 per share, up by 1.25% and Tata Power is top Nifty loser trading at Rs 77.05 per share, down by 0.39%. There are 957 advances, 424 declines and 459 unchanged stocks on NSE reflecting mixed sentiments floating in the market.

On the broader markets, BSE Mid-cap index is trading at 15,846 level, up by 0.15% while BSE Small-cap index is trading at 16,384 level, up by 0.28%.

The rupee opened at 63.88 per USD.

The tech-heavy Nasdaq Composite index ended at 6,398, up by 5 points, whereas the Dow Jones Industrial Average dipped 23 points to close at 21,785 and the S&P ended flat with a negative bias.

A majority of the Asian stock indices were trading in the positive territory in early trade on Friday. Hong Kong's Hang Seng has risen 0.46% and China’s Shanghai Composite has gained 0.23%, while Japan’s Nikkei 225 has lost 0.31%....

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Gold hits new one-year high as dollar tanks

Gold prices touched fresh one-year high early on Friday’s trade as the dollar tanked due to weaker than expected US job data and euro hike.


US gold futures for December delivery were up 0.3% at USD 1,354.40.

The euro hovered below a 2-1/2-year high versus the dollar on Friday, with the US currency losing traction after a policy meeting by the European Central Bank did little to support the dollar.

The number of Americans filing for unemployment benefits jumped to a more than two-year high last week amid a surge in applications in hurricane-ravaged Texas, but the underlying trend remained consistent with a strong labour market..

Spot gold nudged up to USD 1,350.46 per ounce, its highest since September 2016, and was little changed at USD 1,349.43 at 0056 GMT.

The ECB lowered some of its inflation projections to reflect a firming euro but lifted some growth forecasts after the euro zone economy registered its best growth run in a decade.

The euro zone economy grew at a robust pace in the three months to June, driven mostly by higher domestic demand and investment, official data released on Thursday confirmed..

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Bajaj Finance, Aditya Birla Capital most active stocks by value

Nifty closed at 9,929 level, up by 13 points, while Sensex closed flat at 31,662 level on Thursday. There were 959 advances, 674 declines and 328 unchanged stocks on NSE, reflecting that bulls were in control of the market.

BSE Small-cap index, closed at 16,329 level, up by 0.46%. BSE Mid-cap index and BSE Small-cap index touched their all-time high levels of 15,852 and 16,395 respectively.

Bajaj Finance stock hits a record high on fund raising plan through qualified institutional placement (QIP). The company is planning to sell 26.6 million shares at Rs 1,690 each. 

Shares of Aditya Birla Capital witnessed block deal during Thursday's trading session. There were 43 lakh shares were traded in multiple blocks on the NSE at Rs 193.55 per share.

Reliance Industries has turned ex-bonus on Thursday. The company has fixed September 9, 2017 as the record date for the bonus issue.
 

Following is the list of most active securities in terms of value on Thursay:

Symbol	LTP	% Change	Traded Qty	Value (in Lakh)
BAJFINANCE	1,963.00	5.6	42,71,734	82,336.39
ABCAPITAL	208.5	2.36	3,42,41,770	68,630.78
RELIANCE	816.6	-0.74	74,08,536	60,932.25
ITC	271	-1.7	1,92,18,142	52,482.82
HDFC	1,779.60	0.26	29,19,242	51,684.01
VEDL	326.1	2.47	1,56,25,658	50,609.94
ICICIBANK	292.9	-0.83	1,56,30,577	45,966.40
SBIN	273.95	-0.11	1,61,02,724	44,261.56
RELCAPITAL	769.75	1.36	46,56,318	35,938.86
IBULHSGFIN	1,315.65	4.06	25,51,032	33,407.29

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