Stock Market News and Updates Live

Derivative Call :-

Sell Tata Steel June 420CE at Rs.8.50 And Sell Tata Steel June 420PE at Rs.4.30 Approx margin Rs.60000.

News Updates: 

• Steel prices are likely to go up 5.7% in FY13
• JetAirways has got government clearance to scale down its flights to the northeastern region by about half to stem the losses.
• CoalIndia has hiked prices by an average of 10-15% for noncoking coal mined from selected blocks in Western Coalfields.
• BhartiAirtel will invest $25 million for development of 3G network and introduction of #Airtel Money services in Malawi.
• ONGC is mulling listing its overseas investment arm OVL next year to raise funds for aggressive foreign acquisitions.
• NHPC is yet to receive dues of over Rs10 bn from various power distribution companies.

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DSP BlackRock FMP-Series 2-3M announces dividend

Record date for dividend is 26 September 2011

DSP BlackRock Mutual Fund has announced 26 September 2011 as the record date for declaration of dividend under the dividend payout option of DSP BlackRock FMP-Series 2-3M. The quantum of dividend will be upto 100% of distributable surplus as on the record date on the face value of Rs. 10 per unit. The scheme recorded NAV of Rs. 10.2031 per unit as on 20 September 2011. Also, the scheme’s maturity date is 26 September 2011.

The primary investment objective of the scheme is to seek to generate returns and capital appreciation by investing in a portfolio of debt and money market securities. The scheme will invest only in such securities which mature on or before the date of maturity of the scheme.


Wipro Shines as Rupee hits 50 against Dollar

Wipro edged higher in the trade after the rupee weakened to 50 against the dollar on Friday, a level not seen in more than 28 months, as investors globally continued to dump high yielding riskier assets for the safety of government bonds.
The scrip is currently trading at Rs 344.10, up by 3.35 points or 0.98% from its previous closing of Rs 340.75 on the BSE.

The stock opened at Rs 338.00 and has touched a high and low of Rs 348.50 and Rs 335.00 respectively. So far 111102 shares were traded on the counter.

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Euro mess exposes Asia's hot money soft spots
HONG KONG: A stampede for safety has sent many of Asia's currencies diving and the cost of insuring its debt soaring. The retreat says less about the region's financial health than Europe's. It's a reminder that hot money is most dangerous not when it pours in, but when it pulls out.

Take South Korea. For months, authorities in Seoul have been trying to cool a fad among investors to borrow dollars cheaply offshore and buy won-denominated assets.

These speculators were betting that the dollar would fall and that rising inflation would force the central bank to raise rates. South Korean banks took out $13.8 billion in short-term loans from abroad in the first quarter. This helped push the Korean won up as much as 9 percent by August.

Indonesia has been another popular destination for hot money this year. By mid-August, foreign investors had bought $1.23 billion in Indonesian stocks and acquired 30 percent of Indonesian government bonds. This helped push yields to their lowest in more than five years and Indonesia's currency to its strongest since 2004.

The trouble is that a lot of this hot money came from Europe, where Asia looks relatively less risky. As a result, European lending to Asia has soared above $900 billion, according to the Bank for International Settlements. That's well above its pre-crisis peak.

Now, nothing major in Asia has changed. But the ability of European investors to keep so much credit extended is shrinking fast. Whether or not they start reeling in money from Asia, other investors are doing so in anticipation. The results have been dramatic, with the Indonesian rupiah losing 2 percent of its value in just four days.

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Market hits two-week low on Greek default fears

Key benchmark indices reversed initial rally to hit two-week lows in mid-afternoon trade as European shares fell and as US index futures slumped on fears the Greek government may default on its debts and on worries over a possible downgrade of French banks. The 50-unit S&P CNX Nifty fell below the psychological 5,000 mark after regaining that level earlier in the day. The barometer index BSE Sensex was down 100.53 points or 0.61%, off about 365 points from the day's high and up close to 30 points from the day's low.

The market breadth turned negative in contrast with a strong breadth earlier in the day. Index heavyweight Reliance Industries (RIL) reversed initial gains. Commercial vehicles major Tata Motors hit a 52-week low. Many other auto stocks reversed initial gains. Bank stocks also reversed initial gains on concerns elevated interest rates may restrict loan growth, with banking giant State Bank of India (SBI) hitting 52-week low.

The market surged in early trade, tracking higher Asian stocks. The market regained strength after trimming gains from intraday highs in morning trade. The market hit a fresh intraday high in mid-morning trade. The market came off highs later. The market surged to fresh intraday high in early afternoon trade. The Sensex came sharply off high in afternoon trade as European shares moved off highs after a firm start and as US index futures turned negative from positive. The market reversed initial rally to hit two-week low in mid-afternoon trade as European shares fell and as US index futures slumped on fears the Greek government may default on its debts and on worries over a possible downgrade of French banks.

Investors will keenly watch data on second quarter September 2011 corporate advance tax payment due on Thursday, 15 September 2011, which may provide cues on Q2 September 2011 results.

At 14:20 IST, the BSE Sensex was down 100.53 points or 0.61% to 16,401.21. The index fell 127.06 points at the day's low of 16,374.68 in mid-afternoon trade, its lowest level since 29 August 2011. The index rose 264.45 points at the day's high of 16,766.19 in early afternoon trade, its highest level since 9 September 2011.

The S&P CNX Nifty was down 32.45 points or 0.66% to 4914.35. The Nifty hit a high of 5,030.50 in intraday trade, its highest level since 9 September 2011. The Nifty hit a low of 4,911.05 in intraday trade, its lowest level since 29 August 2011.

The market breadth, indicating the overall health of the market, turned negative from positive. On BSE, 1,336 shares fell and 1,328 shares rose. A total of 127 shares remained unchanged. The breadth was strong earlier in the day.

Stock Market latest News

Sensex slides as selloff intensifies...Nifty around 5550

Selling in the Indian stocks has intensified in late afternoon trade, with the BSE Sensex and the NSE Nifty down almost 1% each. The non-index counters have also witnessed some selling pressure, dragging the overall market breadth into the negative territory.

At 02:45 pm (IST), the BSE Sensex was trading at 18,508, down 145 points or 0.78% over the last close. It had touched the day's high at 18, 765 and day's low at 18,473 with the opening of Rs. 18,756.

The NSE Nifty on the other hand was quoting 5,566, down 47 points or 0.85% after touching a high of 5,645 and a low of 5,555.

Analysts, brokers negative on Wipro, stock down 4%

India's third largest IT company Wipro reported in-line numbers today but analysts were disappointed with the muted guidance for the second quarter. IT earnings have been a mixed bag this quarter, with both Wipro and Infosys reporting lower than expected guidance. TCS, country's largest IT exporter, does not give out guidance but it remained the only big IT company to not take a hit on margins because of wage hikes in the first quarter

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Stock Market Latest News 2 June

BSE to open SME exchange by September

The small and medium enterprise (SME) exchange of the Bombay Stock Exchange (BSE) will come up by September this year, a top executive said.

"We have received the approval. By September, we will set up the SME exchange. It will be a segment of the exchange, it won't be a different platform," Sayee Srinivasan, head of product strategy at the BSE, said on Wednesday evening.

He said the companies listed for SME segment at the BSE will not need approval of Securities and Exchange Board of India (SEBI).

"Here they (the companies) need the approval from the BSE, they do not have to go to SEBI," he said.

He also informed media persons that the minimum trade size in the SME exchange will be of Rs. 1 lakh.

He said the BSE has been talking to merchant banks for setting up the SME segment. "We are talking to all the major merchant banks. A lot of merchant banks are registered with the SEBI. People are interested."

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Stock Market Live Tips 2 june

Market Trend FREE

• Buy and Hold #KPIT at Rs179-180 with SL of Rs176 for target of Rs185, 186.
• High Risk Traders Buy & Hold United Phosphorous at Rs161 with SL of Rs158 for Target of Rs167
• Buy & Hold Reliance Infra at Rs583-584 with SL of Rs576 for Target of Rs600.
• Buy & hold Cipla at Rs330 with SL of Rs326 for target of Rs338
• Long SBI June Fut at Rs2317 with a SL of Rs2297 for a Target of Rs2357