Gadekar Financial Services

21/12/2024

02/10/2017

*OCTOBER MONTH TAX Compliance Due Dates*

*07.10.17* - TDS/TCS Challan.

*10.10.17* - GSTR-1 for the month of July.

*15.10.17* - TCS Return Income Tax.

*15.10.17* - ESI & PF.

*18.10.17* - Quarterly Return for composition dealers

*20.10.17* - GSTR - 3B for the month September.

*31.10.17* - GSTR-2 for the month of July.

*31.10.17* - TDS Return Income Tax.

*31.10.17* - Income Tax Audit Cases.

*31.10.17* - TRAN-1 for claiming VAT , Service Tax & Excise Credit.

*31.10.17*-GST CMP-03 & Migration.

(Pls add further,if any date of compliance is missed)

18/03/2016

Markets end with firm gains in late rally
18/03/2016 16:25

The key domestic benchmark indices ended the Friday’s trading session on a firm note as buying in last leg of trade helped markets to surge higher.

Markets made a decent start in the morning and traded in tight band with a gain of around half a percent for most part of the day’s trade.

The investor sentiments were bolstered after Finance minister Arun Jaitley proposed fresh amendments to the Companies Act to do away with the restriction of routing funds through only two layers of investment companies as well as seeking government approval for managerial remuneration.

The Bombay Stock Exchange bellwether Sensex closed at 24952.74 up by 275.37 points or by 1.12 per cent, while the NSE Nifty closed at 7604.35 points, trading higher by 91.8 points or by 1.22 per cent.

The BSE Sensex touched an intraday high of 24986.94 and an intraday low of 24681.64 while the NSE Nifty touched an intraday high of 7613.6 and an intraday low of 7517.9

The top gainers of the BSE Sensex pack were Tata Consultancy Services Ltd. (Rs. 2427.25,+3.21 per cent), GAIL (India) Ltd. (Rs. 364.15,+3.13 per cent), Adani Ports & Special Economic Zone Ltd. (Rs. 241.45,+2.66 per cent), State Bank of India (Rs. 191.05,+2.63 per cent), Infosys Ltd. (Rs. 1190.20,+2.59 per cent), among others.

Meanwhile, Lupin Ltd. (Rs. 1558.90,-6.90 per cent), Sun Pharmaceutical Industries Ltd. (Rs. 815.90,-1.49 per cent), Hindustan Unilever Ltd. (Rs. 846.00,-0.39 per cent), Maruti Suzuki India Ltd. (Rs. 3629.55,-0.10 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total 2964 shares traded, 1372 shares advanced, 1399 shares declined while 193 were unchanged.

Globally, the Asian peers closed higher today as investors turned more positive on riskier assets after the Federal Reserve's cautious stance on further interest rate increased. However, Japanese market bucked the trend as the dollar’s fall against the yen was seen hurting the country’s exporters.

P

26/02/2016

Sensex rebounds to close above 23K mark on bullish growth projections
26/02/2016 16:36
Snapping three-day losing streak, the Indian equities begun the March derivatives contracts on positive note driven by buying by funds and retail investors after the Economic Survey revised upward India’s GDP growth range to 7 to 7.75 per cent for 2015-16. The beaten down banking stocks hogged the limelight as the RBI eased special restructuring norms to deal with stressed assets.

The 30-share BSE SENSEX closed at 23154.3, up by 178.3 points, or by 0.78 per cent, and the NSE Nifty ended at 7029.75, up by 59.15 points, or by 0.85 per cent. Ahead of the Union Budget, the Economic Survey termed external environment as challenging but projected a more than 7 per cent GDP growth rate in the next fiscal which could accelerate to eight per cent in a couple of years.

After a 7.2 per cent economic growth in 2014-15, it said the expansion in economy will be 7.6 per cent in the current fiscal, the fastest in the world. It also cautioned that if the world economy remained weak, India's growth could face considerable headwinds.

In the bullish trade, the BSE Sensex touched intraday high of 23227.91 and intraday low of 23021.94, while the NSE Nifty touched intraday high of 7052.90 and intraday low of 6985.10.

The top gainers of the BSE Sensex pack were Coal India Ltd. (Rs. 311.35,+3.96%), State Bank of India (Rs. 156.25,+2.86%), NTPC Ltd. (Rs. 121.35,+2.41%), Larsen & Toubro Ltd. (Rs. 1110.70,+2.19%), Axis Bank Ltd. (Rs. 386.05,+1.81%), among others.

Meanwhile, Bajaj Auto Ltd. (Rs. 2236.85,-3.49%), Hero MotoCorp Ltd. (Rs. 2560.00,-2.41%), Lupin Ltd. (Rs. 1727.65,-1.73%), Bharti Airtel Ltd. (Rs. 318.35,-1.52%), GAIL (India) Ltd. (Rs. 303.60,-0.44%), were among top losers on BSE.

On the sectoral front, metal and bankex stocks emerged as top gainers, adding as much as 1.66 per cent and 1.51 per cent, respectively.

The Market breadth, indicating the overall health of the market, was weak. On BSE out of total shares traded 2781, shares advanced were 1096 while 1502 shares declined and 183 were unchanged.

On the global front, the Asian stocks ended higher as concerns over China eased after the country’s central bank assured that it had further monetary easing room to help prop up growth in the world’s second biggest economy and that there is no reason for yuan depreciation. China’s Shanghai Composite advanced 1.2 per cent and Hang Seng jumped over 1.7 per cent and Japan’s Nikkei 225 rose as a weaker yen bolstered the lure for exporter stocks.

29/10/2015

Market extends loss for fourth day; Sensex sinks below 27,000
29/10/2015 16:22


The Indian equities ended lower for the fourth straight session on Thursday, tracking bearish cues from Asian peers, after the US Federal Reserve indicated that it may yet raise interest rates by the end of the year. The benchmark index Sensex slipped below psychological 27,000 mark amid volatility as traders roll over position on the expiry of the October derivative contracts. The broader markets too lost steam in the end of session, making a negative closing paring early gains.

The 30-share BSE SENSEX closed at 26838.14, down by 201.62 points or by 0.75 per cent, and the NSE Nifty ended 59.45 points lower at 8111.75.

In the bearish trade, the BSE Sensex touched intraday high of 27099.11 and intraday low of 26794.10, while the NSE Nifty touched day’s high and low of 8179.6 and 8098, respectively.

The Fed on Wednesday signaled that it is getting ready to move to raise interest rates for the first time in almost a decade, and could do so as early as December as it pinned its hopes on further job gains to boost inflation towards targeted levels. While a hike in US interest rates may make emerging market assets less attractive, it will put an end to the prolonged period of investor uncertainty surrounding the timing of US rate tightening, which will be positive for markets.

Back home, the traders avoided taking aggressive bets considering Bihar elections and F&O expiry due today. The outcome of the Bihar state polls due in the first week of November, with a BJP win likely to be positive for the market.

On the sectoral front, PSU and power stocks emerged as top losers, falling 1.39 per cent and 1.11 per cent, respectively.

Leading the decline on BSE Sensex pack were Bharat Heavy Electricals Ltd. (Rs. 203.25,-4.38%), Axis Bank Ltd. (Rs. 469.40,-2.81%), Sun Pharmaceutical Industries Ltd. (Rs. 879.70,-2.36%), Coal India Ltd. (Rs. 322.15,-2.30%), State Bank of India (Rs. 237.10,-2.02%), among others.

Meanwhile, Dr. Reddy's Laboratories Ltd. (Rs. 4214.05,+2.59%), Vedanta Ltd. (Rs. 106.85,+1.71%), Tata Motors Ltd. (Rs. 391.25,+1.36%), Lupin Ltd. (Rs. 1920.15,+0.53%), Reliance Industries Ltd. (Rs. 941.55,+0.46%), were among top gainers on BSE.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2996, shares advanced were 1303 while 1494 shares declined and 199 were unchanged.

Among the global peers, Asian stocks ended mixed, with markets in China’s Shanghai Composite and Japan’s Nikkei 225 ended higher, while Hang Seng settled in red. The undertone remained cautious as the Fed said that it is prepared to raise borrowing costs as soon as December.

16/10/2015

Sensex ends 204 pts higher; Nifty above 8200
16/10/2015 16:28


Triggered by the firm global cues, the Indian equities ended higher for the second day on Friday supported by strong gains in the capital goods, bankex, oil & gas, and auto space. The market gained momentum in the last hour of trade after lackluster trade in the early session. The benchmark index Sensex reclaimed its crucial psychological level of 27,000 mark, while Nifty breached 8200 level, led by gains in the State Bank of India, Larsen & Toubro, BPCL, YES Bank and Asian Paints.

The 30-share BSE SENSEX closed at 27214.6, up by 204.46 points or by 0.76 per cent, and the NSE Nifty ended 58.65 points higher at 8238.15.

In the choppy trade, the BSE Sensex touched intraday high of 27239.22 and intraday low of 26917.12, while the NSE Nifty touched day’s high and low of 8246.4 and 8147.65, respectively.

On the sectoral front, capital goods and bankex stocks emerging as top gainers, adding 1.83 per cent and 1.3 per cent, respectively.

Leading the rally on BSE Sensex pack were Larsen & Toubro Ltd. (Rs. 1604.60,+2.83%), State Bank of India (Rs. 254.90,+2.39%), Tata Motors Ltd. (Rs. 387.30,+1.73%), Maruti Suzuki India Ltd. (Rs. 4449.90,+1.60%), Dr. Reddy's Laboratories Ltd. (Rs. 4268.95,+1.43%), among others.

Meanwhile, Lupin Ltd. (Rs. 2055.00,-2.11%), Tata Steel Ltd. (Rs. 252.65,-1.04%), Coal India Ltd. (Rs. 338.35,-1.01%), Hindustan Unilever Ltd. (Rs. 784.65,-0.77%), Vedanta Ltd. (Rs. 108.60,-0.41%), were among top losers on BSE.

The Market breadth, indicating the overall strength of the market, was flat. On BSE out of total shares traded 3037, shares advanced were 1423 while 1439 shares declined and 175 were unchanged.

On the global front, the Asian equities ended higher for second day with markets in mainland China rallyed on hopes that the government will push reforms of state-owned companies to stem a slowdown in the world’s second biggest economy. Hang Seng also ended higher after upbeat China lending data bolstered sentiment as new yuan loans in September came in at 1.05 trillion yuan, up from the 900 billion yuan estimated by analysts. Japan’s Nikkei 225 surged as a weaker yen boosted the appeal of exporter stocks.

14/10/2015

Market falls for 3rd consecutive day; IT continues to be a drag
14/10/2015 16:30


Continuing the losing streak for the third straight session, the Indian equities ended in the negative terrain on Wednesday amid selling in IT stocks after TCS’ second quarter earnings failed to impress investors. Investor risk appetite was also affected by weakness in Asian peers after China data signaled a worsening slowdown in the Asia’s biggest economy.

The 30-share BSE SENSEX closed at 26779.66, down by 66.87 points or by 0.25 per cent, and the NSE Nifty ended 23.8 points lower at 8107.9.

In the bearish trade, the BSE Sensex touched intraday high of 26869.08 and intraday low of 26713.28, while the NSE Nifty touched day’s high and low of 8139.3 and 8096.35, respectively.

IT stocks remained a drag following Infosys' guidance cut and HCL Technologies' revenue warning coupled with TCS tepid second quarter earnings as the country’s largest software exporter reported lower-than-expected growth of 16 per cent in its net profit at Rs 6,084.66 crore for the quarter ended September 30.

On the macro front, India’s wholesale prices contracted in September 2015, as the overall deflationary trend persisted for 11th month in a row, signaling the effect of a softening global commodity price cycle. The gauge measuring India’s wholesale inflation dropped to a low of 4.54 per cent following a 4.95 per cent contraction in August 2015, official data released on Wednesday showed.

On the sectoral front, IT and Teck indices emerged as top losers for the third day, falling 1.32 per cent and 1.16 per cent, respectively.

Leading the decline on BSE Sensex pack were Tata Consultancy Services Ltd. (Rs. 2483.40,-4.39%), Tata Motors Ltd. (Rs. 352.30,-2.40%), Hindustan Unilever Ltd. (Rs. 797.40,-1.85%), Coal India Ltd. (Rs. 334.65,-1.72%), ICICI Bank Ltd. (Rs. 282.85,-1.58%), among others.

Meanwhile, Hindalco Industries Ltd. (Rs. 88.70,+3.14%), Lupin Ltd. (Rs. 2062.00,+1.91%), Tata Steel Ltd. (Rs. 248.00,+1.14%), Housing Development Finance Corporation Ltd. (Rs. 1291.10,+1.08%), Reliance Industries Ltd. (Rs. 902.00,+1.06%), were among top gainers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 3045, shares advanced were 1578 while 1327 shares declined and 140 were unchanged.

On the global front, the Asian equities ended lower, with markets in mainland China and Hong Kong were ended in the red after data showed that China’s consumer inflation slowed in September while producer prices remained in the grip of deflation, signaling further concerns over Asia’s biggest economy. Japan’s Nikkei 225 also closed in red tracking a bearish finish at Wall Street overnight as weak import data from China signaled a worsening slowdown in the economy, the fallout of which could hurt growth prospects in other emerging markets.

13/10/2015

Sensex ends 57 points lower, Nifty holds 8100 mark
13/10/2015 16:23


The Indian equities extended losses for a second day on Tuesday amid profit booking by investors on mixed macroeconomic data, and weak trend in other Asian markets. Technology stocks remained under pressure after IT bellwether Infosys lowered its dollar revenue guidance for 2015-16, raising concerns over the outlook of the sector. Traders also turned cautious ahead of the release of July-September quarter numbers of IT giant TCS later in the day.

The 30-share BSE SENSEX closed at 26846.53, down by 57.58 points or by 0.21 per cent and the NSE Nifty ended 11.9 points lower at 8131.70.

In the bearish trade, the BSE Sensex touched intraday high of 26918.52 and intraday low of 26719.1, while the NSE Nifty touched day’s high and low of 8150.25 and 8088.6, respectively.

Market sentiments remained weak as a surge in factory output was offset by quickening of consumer inflation which crimped room for further monetary policy easing by the RBI in Asia's third biggest economy. While India's industrial production rose at the quickest pace in nearly three years at 6.4 per cent, year on year in August 2015, retail inflation accelerated to 4.41 per cent in September 2015 from a record low of 3.66 per cent in August 2015, dampening the chances of another rate cut by the RBI in the near-term.

Bucking the trend, the broader market ended in positive terrain, with the BSE MIDCAP settling at 10957.09, up by 2.39 points or by 0.02 per cent, while the BSE SMLCAP closed at 11395.89, up by 46.32 points or by 0.41 per cent.

On the sectoral front, IT and Teck indices emerged as top losers for the second day, falling 1.03 per cent and 0.87 per cent, respectively.

Leading the decline on BSE Sensex pack were Oil And Natural Gas Corporation Ltd. (Rs. 254.30,-3.47%), Hindalco Industries Ltd. (Rs. 85.85,-3.16%), Vedanta Ltd. (Rs. 108.10,-2.48%), Tata Steel Ltd. (Rs. 245.25,-2.35%), Infosys Ltd. (Rs. 1098.80,-2.11%), among others.

Meanwhile, Coal India Ltd. (Rs. 340.20,+1.70%), Bajaj Auto Ltd. (Rs. 2459.10,+1.39%), Bharat Heavy Electricals Ltd. (Rs. 208.45,+1.39%), Maruti Suzuki India Ltd. (Rs. 4280.10,+1.13%), ITC Ltd. (Rs. 344.10,+1.00%), were among top gainers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 2943, shares advanced were 1560 while 1250 shares declined and 133 were unchanged.

On the global front, the Asian equities ended mostly in negative terrain, as markets in Hong Kong fell after China’s imports plunged for the eleventh month on the trot, dropping 17.7 per cent, year on year in yuan terms in September. Recovering from early losses, China’s Shanghai Composite closed marginally higher, while Japanese markets ended in red on reopening after a holiday.

12/10/2015

Market ends lower as Infy cuts forecast; IT, Teck stocks drag
12/10/2015 16:21


The Indian equities ended in the negative terrain on Monday as investors partially booked profit after IT bellwether Infosys announced its third quarter earnings and also lowered its dollar revenue guidance for 2015-16. IT and Teck space saw hefty selling with index heavy weight Infosys falling nearly 4 per cent on revenue growth concerns.

The 30-share BSE SENSEX closed at 27079.51, up by 233.7 points or by 0.87 per cent and the NSE Nifty ended 60.35 points higher at t 8189.70.

In the bullish trade, the BSE Sensex touched intraday high of 27305.04 and intraday low of 26855.75, while the NSE Nifty touched high and low of 8244.5 and 8128.2, respectively.

IT bellwether Infosys cut its FY 16 dollar revenue guidance to 6.4-8.4 per cent from 7.2-9.2 per cent. Meanwhile, investors keenly eyed key macroeconomic data i.e. IIP and inflation numbers, to be released later in the day.

Outperforming the benchmark indices, the broader market ended in positive terrain, with the BSE MIDCAP settling at 10956.94, up by 19.18 points or by 0.18 per cent, while the BSE SMLCAP closed at 11354.24, up by 5.66 points or by 0.05 per cent.

On the sectoral front, IT and Teck indices emerged as top losers, falling 2.02 per cent and 1.83 per cent, respectively.

Leading the decline on BSE Sensex pack were Infosys Ltd. (Rs. 1122.00,-3.93%), Lupin Ltd. (Rs. 2016.00,-1.95%), Cipla Ltd. (Rs. 675.60,-1.82%), Sun Pharmaceutical Industries Ltd. (Rs. 890.05,-1.80%), Housing Development Finance Corporation Ltd. (Rs. 1274.10,-1.29%), among others.

Meanwhile, Vedanta Ltd. (Rs. 110.50,+6.66%), Hindalco Industries Ltd. (Rs. 87.75,+4.90%), GAIL (India) Ltd. (Rs. 319.75,+2.73%), Tata Motors Ltd. (Rs. 364.10,+2.30%), Bharat Heavy Electricals Ltd. (Rs. 205.40,+1.66%), were among top gainers on BSE.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 3015, shares advanced were 1373 while 1510 shares declined and 132 were unchanged.

On the global front, the Asian equities ended higher, with markets in mainland China extended rally for the third day of trade as bets of a pushback of US monetary tightening timetable buoyed sentiment. Shanghai Composite surged by over 3.3 per cent after policymakers vowed to increase fiscal support for shantytown redevelopment to help bolster growth in the world’s second biggest economy. Hang Seng ended up 1.2 per cent while markets in Tokyo were closed for a holiday.

07/10/2015

Market extends rally for sixth session: Sensex reclaims 27K
07/10/2015 16:27


The Indian equities continued its gaining streak for the sixth day on a trot on Wednesday amid sustained buying by foreign funds and retail investors. The market, however, lost some steam as investors resort to profit –booking after a strong rally in last few sessions as IMF cut economic growth projections, souring sentiment in risky assets.

The 30-share BSE SENSEX closed at 27035.85, up by 102.97 points or by 0.38 per cent and the NSE Nifty ended 24.5 points higher at t 8177.4.

In the bullish trade, the BSE Sensex touched intraday high of 27082.28 and intraday low of 26877.51, while the NSE Nifty touched high and low of 8188.9 and 8132.9, respectively.

The Washington-based lender, IMF cut its growth forecast for Asia’s third biggest economy to 7.3 per cent from 7.5 per cent in FY 2015-16 predicted earlier but stressed that India’s growth prospects remain favourable; while the IMF’s global economic growth estimate was cut to 3.1 per cent for 2015 from 3.3 per cent earlier.

The cautioned prevailed in the market ahead of corporate second quarter earning starting from October 12 after data showed that India’s services activity expanded at a weaker clip in the month of September as demand eased amidst tough economic conditions, signaling a slight loss of momentum in Asia’s third biggest economy, justifying the Reserve Bank of India’s (RBI) aggressive 50 basis points interest rate cut last week.

On the sectoral front, metal and realty indices emerged as top gainers, adding 2.76 per cent and 1.9 per cent, respectively.

Leading the rally on BSE Sensex pack were Hindalco Industries Ltd. (Rs. 81.90,+9.64%), Vedanta Ltd. (Rs. 90.70,+5.83%), Tata Steel Ltd. (Rs. 236.80,+4.25%), Oil And Natural Gas Corporation Ltd. (Rs. 256.90,+3.99%), Bajaj Auto Ltd. (Rs. 2452.30,+3.14%), among others.

Meanwhile, Axis Bank Ltd. (Rs. 496.90,-1.92%), Infosys Ltd. (Rs. 1133.15,-1.88%), Wipro Ltd. (Rs. 589.10,-1.78%), Bharti Airtel Ltd. (Rs. 343.30,-1.66%), Tata Consultancy Services Ltd. (Rs. 2655.10,-1.51%), were among top losers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 2814, shares advanced were 1699 while 1013 shares declined and 102 were unchanged.

On the global front, the Asian equities ended mostly higher on Wednesday, as investors shrugged off IMF forecast, which predicted that in 2016, the world economy may expand 3.6 per cent, down from 3.8 per cent previously estimated. While markets in mainland China remained closed for holidays, Hang Seng and Japan’s Nikkei 225 advanced ahead of a Bank of Japan policy decision in which the apex lender may announce further stimulus to prop up growth in the world’s third biggest economy.

06/10/2015

Party continues at Dalal Street; Sensex ends 147 pts up
06/10/2015 16:34


Extending rally for the fifth straight session, the Indian equities ended higher on Tuesday, with Sensex regaining its crucial level of 27,000, on sustained buying by foreign funds and retail investors. The positive trend continued in the market amid upbeat global mood after a tepid US jobs data for September pushed back bets of a hike in interest rates by the US Federal Reserve, bolstered the lure for risk taking appetite.

The 30-share BSE SENSEX closed at 26932.88, up by 147.33 points or by 0.55 per cent and the NSE Nifty ended 33.6 points higher at t 8152.9.

In the bullish trade, the BSE Sensex touched intraday high of 27010.27 and intraday low of 26751.25, while the NSE Nifty touched high and low of 8180.95 and 8096.5, respectively.

However, cautioned prevailed in the market ahead of corporate second quarter earning starting from October 12 after data showed that India’s services activity expanded at a weaker clip in the month of September as demand eased amidst tough economic conditions, signaling a slight loss of momentum in Asia’s third biggest economy, justifying the Reserve Bank of India’s (RBI) aggressive 50 basis points interest rate cut last week.

The Nikkei Business Activity Index, a gauge of services activity, fell from 51.8 in August to 51.3 in September, with a reading above 50 signaling expansion, Markit Economics reported on Tuesday.

In line with the benchmark indices, the broader markets also ended on robust note, with the BSE MIDCAP settling at 11046.54, up by 33.97 points or by 0.31 per cent, while the BSE SMLCAP closed 77.2 points higher at 11298.73.

On the sectoral front, consumer durables and FMCG indices emerged as top gainers, adding 4.3 per cent and 2.41 per cent, respectively.

Leading the rally on BSE Sensex pack were Tata Motors Ltd. (Rs. 333.50,+5.81%), ITC Ltd. (Rs. 342.90,+4.21%), Coal India Ltd. (Rs. 342.75,+4.02%), Cipla Ltd. (Rs. 663.55,+3.36%), GAIL (India) Ltd. (Rs. 307.95,+3.17%), among others.

Meanwhile, Bharat Heavy Electricals Ltd. (Rs. 198.05,-2.82%), Infosys Ltd. (Rs. 1154.85,-2.17%), Maruti Suzuki India Ltd. (Rs. 4357.30,-1.32%), NTPC Ltd. (Rs. 125.75,-1.30%), Axis Bank Ltd. (Rs. 506.65,-1.05%), were among top losers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 2811, shares advanced were 1566 while 1129 shares declined and 116 were unchanged.

On the global front, the Asian equities ended mostly higher tracking strong gains on hopes that the US Fed may refrain from raising interest rates. While markets in mainland China remained shut for holidays, Japan’s Nikkei 225 ended 1 per cent higher on speculation of additional stimulus from the Bank of Japan (BOJ) before the end of the month. Meanwhile Hong Kong’s Hang Seng ended marginally below baseline.

30/09/2015

D-Street extends rally as rate cut euphoria continues; Sensex reclaims 26k

30/09/2015 16:30
Triggered by a bigger-than-expected rate cut by the Reserve Bank of India, the Indian equities extended rally for the second day on Wednesday, with the benchmark Sensex and NSE Nifty gained over 1 per cent. Firm cues from fellow Asian peers also gave a lift to market sentiment. On the sectoral front, all the indices ended in green, barring bank stocks that saw some profit taking.

The 30-share BSE SENSEX closed at 26154.83, up by 376.17 points or by 1.46 per cent and the NSE Nifty ended 105.6 points higher at 7948.9.

In the bullish trade, the BSE Sensex touched intraday high of 26179.7 and intraday low of 25918.21, while the NSE Nifty touched high and low of 7957.7 and 7874.5, respectively.

Injecting optimism in the market, RBI hiked limit for FPI investment in government bonds to 5 per cent of the outstanding stock by March, 2018, a move that will bring in an additional Rs 1.2 lakh crore in Government Securities, too supported the sentiment.

On the sectoral front, metal and FMCG indices emerged as top gainers, adding 3.36 per cent and 2.36 per cent, respectively.

Leading the rally on BSE Sensex pack were Tata Steel Ltd. (Rs. 211.90,+5.24%), Bharti Airtel Ltd. (Rs. 338.00,+4.50%), Bharat Heavy Electricals Ltd. (Rs. 205.55,+4.18%), GAIL (India) Ltd. (Rs. 302.10,+3.90%), Coal India Ltd. (Rs. 326.50,+3.78%), among others.

Meanwhile, State Bank of India (Rs. 237.25,-1.96%), Axis Bank Ltd. (Rs. 495.55,-1.68%), Vedanta Ltd. (Rs. 85.10,-1.33%), Tata Consultancy Services Ltd. (Rs. 2587.70,-0.10%), Maruti Suzuki India Ltd. (Rs. 4671.05,-0.08%), were among top losers on BSE.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2753, shares advanced were 1691 while 951 shares declined and 111 were unchanged.

On the global front, the Asian equities ended in positive terrain after Wall Street ended higher in the overnight trade on the better-than-expected the US consumer confidence data. China's Shanghai Composite ended up 0.5 per cent, Hang Seng rose 1.4 per cent and Japan’s Nikkei 225 settled 2.7 per cent higher as a weaker yen increased the appeal of exporter stocks.

P