Nifty, Sensex Under Pressure; Lupin, Tata Steel Most Active

The market has started off last day of the week on a flat note. The Sensex fell 2.35 points to 27199.14 and the Nifty declined 2.40 points to 8335.50. For more information visit www.marketmagnify.com/stock-option.php    

       Lupin and Tata Motors were top gainers in early trade, up 2 percent each followed by Sun Pharma, BHEL, Hero MotoCorp and Aurobindo Pharma while Tata Steel, ITC, ONGC, Bharti Airtel, ICICI Bank, Idea Cellular and Bharti Infratel were losers.         

        Asian markets were trading lower with the Shanghai, Hang Seng and Nikkei falling 0.5-1 percent as oil declined Thursday and ahead of US payroll data due today.Equity benchmarks extended sell-off with the Nifty breaching 8300 level for the first time in last five sessions. The Sensex fell 108.71 points to 27092.78 and the Nifty declined 33.50 points to 8304.40.
        The market breadth was weak as about 839 shares declined against 653 advancing shares on BSE.

       Tata Steel 's board is expected to meet today to discuss sale of its UK assets. Sources have told CNBC-TV18 that the steel major is likely to hold asset sale as of now. If the deal does not go through, some pressure will be seen on the stock in near-term, says Tarang Bhanushali of IIFL who has a reduced rating on Tata Steel. In case of no deal, the target price for the stock is Rs 305. 

          Biocon Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on July 21, 2016, inter alia, to approve the un-audited financial results for the quarter ended on June 30, 2016 (Q1).The Company will organize a conference call for analysts and investors on July 22, 2016. The details of the call will be available on the Company's website closer to the scheduled event.Source : BSE

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Nifty settles above 7650-mark

The BSE Sensex ended with a gain of 348 points at 25,022. The BSE Sensex opened at 24,798 touched an intra-day high of 25,050 and low of 24,423.

The NSE Nifty closed with a gain of 116 points at 7,671. The NSE Nifty opened at 7,578 hitting a high of 7,679 and low of 7,517.

On the global front, China's Shanghai Composite index closed up 1.6% and Hang Seng up 0.34%.

In Europe, the FTSE 100 trading higher. On the other hand, DAX gained 0.95% and the CAC 40 up by 0.4%.

Bosch, Idea Cellular, Hindalco, Adani Ports, Bank of Baroda, BHEL and Tata Motors were among the gainers on NSE, whereas Lupin, Ambuja Cement, Dr.Reddy's, UltraTech Cement and Cipla were among the losers today.

Out of 1,810 stocks traded on the NSE, 632 declined and 919 advanced today.

A total of 25 stock registered a fresh 52-week high in trades today, whereas 14 stocks touched a new 52-week low on the NSE.

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Tata Steel due to begin formal UK sale process

Tata Steel is due on Monday to begin the formal sale process for its loss-making British units which employ 15,000 people, a source close to the company said. 

Tata, one of the world's biggest steelmakers, said on March 30 it was putting its British assets up for sale, citing a global oversupply of steel, high costs, weak domestic demand and a volatile currency.

Tata Steel Stock Price

On April 11, 2016, at 13:36 hrs Tata Steel was quoting at Rs 328.10, up Rs 5.85, or 1.82 percent. The 52-week high of the share was Rs 384.20 and the 52-week low was Rs 200.00. 

The company's trailing 12-month (TTM) EPS was at Rs 51.88 per share as per the quarter ended December 2015. The stock's price-to-earnings (P/E) ratio was 6.32. The latest book value of the company is Rs 686.39 per share. At current value, the price-to-book value of the company is 0.48.

Equity Market Opening Live Upates: Nifty trades flat

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Sensex, Nifty trades flat; telecom, realty gain

S&P BSE Sensex is trading at 24,687 up 14 points, while NSE Nifty is trading at 7,561 up mere six points.

The BSE Mid-cap Index is trading up 0.41% at 10,638, whereas BSE Small-cap Index is trading up 0.36% at 10,703.

BHEL, Bharti Airtel, ONGC, Tata Motors, SBI and Sun Pharmaceutical are among the gainers, whereas Infosys, Cipla, M&M, Lupin, Asian Paints and Wipro are losing sheen on BSE.

Some buying activity is seen in telecom, realty, power, industrial, energy and oil & gas sector, while IT, FMCG and teck are showing weakness on BSE.

Indian rupee opened lower by 3 paise at 66.50/$ on Monday as against the previous close of 66.50/$.

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ARSS Infrastructure gains 10% on Rs 156cr order win

Shares of ARSS Infrastructure Projects surged 10 percent intraday Monday as the company's joint venture won an order from East Coast Railway, Bhubaneswar. 

The company's JV ARSS-SIPS has bagged a work order of Rs 156.85 crore for Budhapank-Salegaon via- Rajathagarh for third and fourth line.  

At 09:26 hrs ARSS Infrastructure Projects was quoting at Rs 42.95, up Rs 3.40, or 8.60 percent on the BSE.