Upcoming Indian Stock Market Update

Hike in foreign shareholding in bourses to help MCX, BSE & NSE. For more market update visit & www.marketmagnify.com/stock-future-tips.php give a missed a call @ 78-79-88-11-22. 

         Earlier this week, the Union Cabinet increased the foreign shareholding limit in Indian stock exchanges, a depository, a banking company, an insurance company and a commodity derivative exchange from 5 per cent to 15 per cent in a bid to attract overseas investment and expertise.

              The NDA government has liberalised the foreign investment limit in a host of sectors such as defence, civil aviation and pharmaceuticals in a major reform overdrive.

The approval to raising of investment limits for foreign entities to 15 per cent is in pursuance of the implementation of the 2016-17 Budget announcement made by Finance Minister Arun Jaitley.

        As per the new policy, foreign portfolio investors (FPI) can acquire shares through initial allotment in stock exchanges, besides the secondary market route.

This move is expected to benefit potential investors of the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), which have plans to go public with initial public offerings (IPOs).
           BSE has already received in-principle approval from the capital market regulator Sebi for its IPO to raise Rs 1,300 crore by selling up to 30 per cent stake. Domestic commodity exchanges such as Multi Commodity Exchange (MCX) and National Commodity & Derivatives Exchange (NCDEX) will also get a fresh leg-up.

Indian Stock Market News Today

Sensex, Nifty may remain cautious; HDFC, Bajaj Auto Q1 in focus. For more information visit www.marketmagnify.com/freetrial.php & give a missed call @ 78-79-88-11-22.

• Earnings to watch out today are Asian Paints, HDFC, Bajaj Auto, Bharti Airtel, YES Bank, Dabur, Torrent Pharma and Shriram Transport Finance.
• Sebi orders attachment of bank, demat a/c of Pinnacle Ventures. Markets regulator Sebi has ordered attachment of bank and demat accounts of Pinnacle Ventures India and its eight directors as part of steps to recover dues of Rs 3.85 crore. The dues include fine imposed on the firm along with interest, charges, expenses and other costs for violation of norms.
• Tesla's Musk sees 'modest' capital raise for next strategic turn. Musk's comments during a media open house at Tesla's sprawling, battery "gigafactory" outside Reno, Nevada, come at a time when the automaker is losing money and dealing with investigations into a crash that killed a driver using its Autopilot driving-assist software.
• China June industrial profits up but investment challenges grow. Profits in June rose to 616.31 billion yuan (USD 92.40 billion), the statistics bureau said on Wednesday. Profits in the mining sector fell 83.6 percent in the first half from a year earlier, the National Bureau of Statistics (NBS) said.
• After consolidation, equity benchmarks extended losses in late trade Tuesday on profit booking, especially after June quarter earnings. The 30-share BSE Sensex was down 118.82 points at 27976.52 and the 50-share NSE Nifty dropped 45 points to 8590.65. About 1659 shares declined against 1040 advancing shares on the Bombay Stock Exchange.

Indian Stock Trading Ideas From Market Experts

The market has opened flat on Monday with the Nifty below 8550. The 50-share index is down 21.65 points or 0.2 percent at 8519.55 and the Sensex is down 57.53 points or 0.2 percent at 27745.71. About 214 shares have advanced, 82 shares declined, and 28 shares are unchanged. For more market update visit www.marketmagnify.com/freetrial.php & give a missed call @ 78-79-88-11-22.

• Results today:

Canara Bank , Indiabulls Housing Finance, Bajaj Corp, Hitachi Home, State Bank Of Mysore, Eveready Ind, Info Edge, Merck, Navin Fluorine, Tata Sponge Iron, Asian Granito, Automotive Stampings, Eimco Elecon, Ganesha Ecosphere, Ghcl, Greenply Industries, HOEC, Jk Paper, K.P.R. Mill, Kg Denim, Maharashtra Scooters, Nelco, Pincon Spirit, Rane Engine Valve, Shanthi Gears, Supreme Petrochem, Texmaco Infrastructure & Holdings, Texmaco Rail & Engineering, Transformers And Rectifiers

• Adani Ports, ITC, Asian Paints, Maruti and GAIL are top gainers while Axis Bank, Cipla, BHEL, TCS and M&M are top losers in the Sensex.
• Axis Bank's weak fee income growth dissappoints: IIFL. Axis Bank reported a weak set of first quarter earnings on July 22. The profit fell for the second consecutive quarter and for the first quarter of this fiscal it saw a 21.4 percent dip year-on-year (YoY) on account of sharp worsening in asset quality.  
• Shares of Equitas Holdings gained 5.6 percent intraday Monday as its net profit jumped 64 percent in the quarter ended June of FY2016-17. It has reported 64 percent jump in consolidated net profit at Rs 61.2 crore for the first quarter of 2016-17 financial year against net profit of Rs 37.4 crore in the corresponding April-June quarter of 2015-16.

Asia Stocks Tumble as UK Referendum Polls Lean Towards Brexit

Brexit Live: Jayant Sinha says India haven of stability

 278 out of 382 areas vote 51.76 percent to leave and 48.24 percent to stay in European Union, which pushed FTSE futures lower by 7.8 percent at 5795.50.  For more live update visit www.marketmagnify.com/stock-cash-power.php & give missed call @ 78-79-88-11-22.

        The market has opended sharply lower.    The Sensex is down 940.07 points or 3.5 percent at 26062.15, and the Nifty down 287.70 points or 3.5 percent at 7982.75. About 57 shares have advanced, 1065 shares declined, and 18 shares are unchanged.

    A majority of British voters said that the United Kingdom should leave the European Union. Markets are moving wildly, and currencies are making big moves, but the actually political process will be much, much slower. 

     Tata Motors is down 10 percent. Tata Steel is down 8 percent, ICICI Bank, Maruti and Adani Ports are major losers. 

     The margin is tipping in favour of the leave camp. The leave camp leads with 15,061,847 votes against Remain's 14,040,003, says BBC. 

    Domestic investors are positive on India. Once the dust settles, our fundamentals will start asserting themselves, Prasad says. 

    Tata Motors hammered 10 percent as indices down 3 percent in early trade.

Leave or Remain: Britain votes on EU membership today

World leaders all the way from US President Barack Obama to Indian Prime Minister Narendra Modi, and not least the leaders of European countries, want Britain to remain in the European Union (EU). For more update visit www.marketmagnify.com/stock-cash-tips.php & Give a missed call @ 78-79-88-11-22.

           Brexit: Which Indian IT cos may gain or fall on EU referendum
 Bank of America Merrill Lynch feels that Brexit may create recession risks that could hurt IT demand further hurting 10-14 percent revenue growth for the UK businesses of the Indian IT companies in FY17.
              Brexit fears are totally overblown: Jim Cramer

Jim Cramer's jaw dropped to the floor by how overblown Brexit fears are when he read the op-ed by Matt Ridley in the Wall Street Journal entitled "The Business Case for Brexit.

             The Brexit conundrum: To be or not to be

 There's been a lot of talk around whether or not Britons will vote to stay in the European Union. Brexit, as it is called, will have repercussions on the UK, the EU as well as emerging markets like India. The referendum is set for June 23. Here is a look at how it would play out and what impact, if any, it would have on countries and currencies.
                Brexit will mean risk-off in EMs; India could be hurt too: LGM

The biggest casualty of a ‘leave’ vote would be the pound and the UK stock market which could fall as much as 5-10 percent feels Chowdhry

                 Lupin gets USFDA nod for fungal infection drug

Company's US subsidiary Gavis Pharmaceuticals LLC has received final approvals to market "its Voriconazole tablets, 50 mg & 200 mg and Voriconazole Oral Suspension, 40 mg/mL from the United States Food and Drug Administration (FDA)," Lupin said in a filing to BSE
                KEC International gains 7% on order win worth Rs 1036 crore

The company's transmission and distribution business has received an order worth Rs 666 crore in    

                    Drug to treat eye disease won't hit mkt before 2-3 yrs: Biocon

Early trials have indicated a positive data for the drug QPI-1007 to treat nonarteritic anterior ischemic optic neuropathy (NAION), says Kiran Mazumdar Shaw, CMD of Boicon.