BSE midcap & smallcap outperform; oil & gas stocks weigh 01/01/2015

BSE midcap & smallcap outperform; oil & gas stocks weigh
01/01/2015 11:48
Weighed down by losses in the oil & gas and FMCG sector stocks, the Indian benchmark index Sensex was trading in red in the late morning session on Thursday. BSE Sensex slipped over 16 points while NSE Nifty was trading down nearly 13 points. Market sentiments were influenced as traders indulged in profit booking on the first trading day of 2015. However, the broader markets both BSE midcap and smallcap were performed better than the front-liners with gains of around 0.6 per cent to 0.9 per cent. Major show spoilers included were NTPC, Housing Development Finance Corporation, Coal India, Dr. Reddy's Laboratories and GAIL (India).

At 11:23 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 27483.11 down by 16.31 points or by 0.06 per cent while the NSE Nifty was at 8269.1 down by 13.6 points or by 0.16 per cent.

The broader market was moving below baseline. The BSE MIDCAP was at 10434.02 up by 61.44 points or by 0.59 per cent, while the BSE SMLCAP was at 11189.62 up by 102.55 points or by 0.92 per cent.

The Market breadth, indicating the overall strength of the market, was positive. On BSE out of the total 2338 shares traded, 1489 advanced while 765 shares declined and 84 remained unchanged.

The top losers of the BSE Sensex pack were NTPC Ltd. (Rs. 142.90,-0.83%), Housing Development Finance Corporation Ltd. (Rs. 1126.65,-0.74%), Coal India Ltd. (Rs. 381.00,-0.72%), Dr. Reddy's Laboratories Ltd. (Rs. 3222.10,-0.70%), GAIL (India) Ltd. (Rs. 442.05,-0.65%), among others.

Meanwhile, Sesa Sterlite Ltd. (Rs. 217.80,+1.73%), Bharti Airtel Ltd. (Rs. 356.10,+0.92%), Cipla Ltd. (Rs. 631.55,+0.92%), Tata Steel Ltd. (Rs. 402.90,+0.89%), Maruti Suzuki India Ltd. (Rs. 3351.75,+0.70%), were among notable gainers on BSE.

Among the thirteen sectoral indices on BSE, BSE Oil&Gas index was trading at 9879.76 down by 15.45 points or by 0.16 per cent. GAIL (India) Ltd. (Rs. 442.05,-0.65%), Reliance Industries Ltd. (Rs. 886.45,-0.53%), Cairn India Ltd. (Rs. 239.30,-0.33%), Oil India Ltd. (Rs. 574.00,-0.27%), were among the notable losers on BSE.

Following the BSE Oil&Gas, BSE_FMCG index was at 7758.34 down by 8.23 points or by 0.11 per cent. United Spirits Ltd. (Rs. 2757.95,-0.86%), Marico Ltd. (Rs. 324.00,-0.61%), Nestle India Ltd. (Rs. 6357.05,-0.36%), ITC Ltd. (Rs. 367.15,-0.34%), United Breweries Ltd. (Rs. 833.35,-0.07%), were among others.

Oil & Gas shares decline; NTPC, HDFC Ltd down 01/01/2015

Oil & Gas shares decline; NTPC, HDFC Ltd down
01/01/2015 10:42
The Indian benchmark continued trading in red in the morning session of day’s trade. Oil & gas sector stocks were on the decline with Cairn India leading the pack followed by GAIL, Oil India and Reliance Industries. DB Realty rose as investors' interest in the stock remained upbeat on positive cues generated by the Bombay High court orders related to three large projects being developed by companies in which DB Realty either has either controlling or significant stakes. At 10:38AM BSE SENSEX was at 27456.8 down by -42.62 points or by -0.15 per cent and then NSE Nifty was at 8268.85 down by -13.85 points or by -0.17 per cent.

The BSE MIDCAP was at 10421.74 up by 49.16 points or by 0.47 per cent. while the BSE SMLCAP was at 11165.94 up by 78.87 points or by 0.71 per cent.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2074 , shares advanced were 1319 while 685 shares declined and 70 were unchanged

The top gainers of the BSE Sensex pack were Cipla Ltd. (Rs. 632.00,+0.99 per cent), Bharat Heavy Electricals Ltd. (Rs. 267.60,+0.90 per cent), State Bank of India (Rs. 313.80,+0.63 per cent), Bharti Airtel Ltd. (Rs. 354.40,+0.44 per cent), Tata Power Company Ltd. (Rs. 82.50,+0.43 per cent), among others.

The top losers of the BSE Sensex pack were NTPC Ltd. (Rs. 142.95,-0.80 per cent), Housing Development Finance Corporation Ltd. (Rs. 1126.00,-0.79 per cent), Hindalco Industries Ltd. (Rs. 156.45,-0.79 per cent), Coal India Ltd. (Rs. 380.80,-0.77 per cent), Dr. Reddy's Laboratories Ltd. (Rs. 3225.60,-0.60 per cent), among others.

The top gainers of the NSE Nifty pack were NMDC Ltd. (Rs. 146.80,+1.24 per cent), Punjab National Bank (Rs. 221.75,+1.21 per cent), Bharat Heavy Electricals Ltd. (Rs. 267.95,+1.02 per cent), IDFC Ltd. (Rs. 158.80,+0.92 per cent), HCL Technologies Ltd. (Rs. 1610.70,+0.86 per cent), among others.

The top losers of the NSE Nifty pack were Housing Development Finance Corporation Ltd. (Rs. 1124.40,-1.01 per cent), Dr. Reddy's Laboratories Ltd. (Rs. 3218.25,-0.86 per cent), Cairn India Ltd. (Rs. 238.55,-0.83 per cent), Coal India Ltd. (Rs. 381.00,-0.74 per cent), Hindalco Industries Ltd. (Rs. 156.40,-0.73 per cent), among others.

Among the sectoral indices on BSE, BSE Oil & Gas index was at 9874.74 down by -20.47 points or by -0.21 per cent. Cairn India Ltd. (Rs. 238.40,-0.71 per cent), GAIL (India) Ltd. (Rs. 442.45,-0.56 per cent), Oil India Ltd. (Rs. 572.45,-0.54 per cent), Reliance Industries Ltd. (Rs. 886.40,-0.53 per cent

Sensex dips on first day of 2015 on weak global cues 01/01/2015

Sensex dips on first day of 2015 on weak global cues
01/01/2015 09:57
Indian markets opened on a negative note during the morning trading session for the calendar 2015 on a subdued note tracking weak global cues along with metal shares leading the fall. India's fiscal deficit was Rs 5.25 trillion ($83.08 billion) during April-November, or 98.9 per cent of the full-year target, data released after market hours yesterday showed. The deficit was 93.9 per cent during the same period a year ago. At 9:41AM BSE SENSEX was at 27434.86 down by 64.56 points or by 0.23 per cent and then NSE Nifty was at 8261.3 down by 21.4 points or by 0.26 per cent.

The BSE MIDCAP was at 10400.41 up by 27.83 points or by 0.27 per cent. while the BSE SMLCAP was at 11120.87 up by 33.8 points or by 0.3 per cent

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 1527 , shares advanced were 887 while 586 shares declined and 54 were unchanged

The top gainers of the BSE Sensex pack were Cipla Ltd. (Rs. 633.15,+1.17 per cent), Maruti Suzuki India Ltd. (Rs. 3351.75,+0.70 per cent), Mahindra & Mahindra Ltd. (Rs. 1242.00,+0.61 per cent), Tata Power Company Ltd. (Rs. 82.40,+0.30 per cent), Oil And Natural Gas Corporation Ltd. (Rs. 341.95,+0.22 per cent), among others.

The top losers of the BSE Sensex pack were Coal India Ltd. (Rs. 379.80,-1.03 per cent), NTPC Ltd. (Rs. 142.65,-1.01 per cent), Dr. Reddy's Laboratories Ltd. (Rs. 3216.00,-0.89 per cent), Hindalco Industries Ltd. (Rs. 156.40,-0.82 per cent), Housing Development Finance Corporation Ltd. (Rs. 1125.90,-0.80 per cent), among others.

The top gainers of the NSE Nifty pack were Cipla Ltd. (Rs. 630.40,+0.64 per cent), Mahindra & Mahindra Ltd. (Rs. 1241.50,+0.57 per cent), Bharat Petroleum Corporation Ltd. (Rs. 648.90,+0.45 per cent), ACC Ltd. (Rs. 1404.50,+0.31 per cent), IDFC Ltd. (Rs. 157.80,+0.29 per cent), among others.

Pre Session: Market seen kick-off 2015 on negative note 01/01/2015

Pre Session: Market seen kick-off 2015 on negative note
01/01/2015 08:16
The key domestic benchmarks are expected to open on bearish note today tracking a subdued trend in global market as Wall Street ended lower in overnight trade. Most Asian stocks remained closed on eve of New Year holiday. The trading volumes are may remain thin as investors stayed on the sidelines ahead of the year-end while a slump in commodity prices and political uncertainty in Greece curbed risk taking appetite. Back home, markets may be supported by the latest reform unleashed by the Modi government which issued an executive order making it easier for companies to buy land, a move which may help kick-start stalled infrastructure projects.

The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 3144, shares advanced were 1516 while 1481 shares declined and 147 were unchanged.

Top traded Volumes on NSE Nifty were State Bank of India 6305857.00, Bharat Heavy Electricals Ltd. 5363890.00, ICICI Bank Ltd. 4609082.00, DLF Ltd. 4360342.00, Hindalco Industries Ltd. 4327309.00.

Clearly mention conditions,benefits of insurance products:Irda 29/12/2014

Clearly mention conditions,benefits of insurance products:Irda
29/12/2014 00:17
To help consumers guard against bogus claims being made by insurers, sector regulator IRDA has said the companies will have to clearly define conditions along with benefits and riders of products to customers, reported PTI. Insurance Regulatory and Development Authority (Irda), in its revised draft regulations on consumer protection, has also said that insurance companies must place all the product information in public domain. The regulator has also sought comments from the public and all stakeholders on the draft regulations on or before January 19, 2015. "A prospectus of any insurance product shall clearly state the scope of benefits, the extent of insurance cover and in an explicit manner explain the warranties, exceptions and conditions of the insurance cover. "Every insurer shall place in public domain complete details of product particulars of each and every product that was offered for sale by the insurer as it was filed and approved by Irda," said the draft regulations. In case of life insurance products, they should clearly mention if it comes with profit or without profits and the riders on products shall be clearly spelt out with regard to scope of benefits, as per the draft norms. Among others, it said the insurers should formulate an insurance awareness policy to educate customers, constitute a policyholder protection committee ensuring its proper functioning as well as formulate a grievance redressal policy for speedy resolution of grievances. The draft has also suggested comprehensive, dispassionate and true information about products by the companies. "The insurers shall ensure that the benefit/returns of the policy are not mis-stated/mis-represented or the prospect is not forced to buy a policy. "Insurers shall disclose restrictions/conditions of all aspects of benefits that are material," it added. The draft norms further said that the products should suit policyholders with respect to income, personal and family circumstances, life stage, financial goals and risk appetite as the customer has the right to service of the proper kind. It said that name and address of agent/insurance intermediary should also be mentioned in the policy document and premium receipts or any such communication. The insurers, agents and intermediaries shall strictly adhere to Irda advertisement regulations and shall not issue any misleading or unfair advertisement," it added. "Violations of any provisions of Advertisement Regulations and guidelines...Shall be dealt with as per provisions of the relevant regulations/provisions of the Act," it added. Irda said the revised regulations may be known as IRDA (Protection of Policyholder's Interests) Regulations 2014 as and when they come to force..

Govt sets up panel to review Drugs and Cosmetics Rules 29/12/2014

Govt sets up panel to review Drugs and Cosmetics Rules
29/12/2014 00:07
The government has constituted a committee to examine and recommend amendments to the Drugs and Cosmetics Rules, 1945, reported PTI. "The Committee will revisit the Drugs and Cosmetics Rules, 1945 and make recommendations for amending the same in order to make these rules contemporary while keeping in view the requirements of quality, safety and efficacy of medical products and also the efficiency of regulatory structures and the industry to keep pace with changing scenario of drugs and medical devices and cosmetics industry," according to a Health Ministry order dated December 24. "In 2012, the government had finally given a green signal to foreign pharmaceutical companies to invest in India as clinical trial is a very positive requirement to strive towards the growing developments in the present Pharmaceutical market worldwide," a Ministry official said. "With that, awareness about concept of Good Clinical Practices (GCP) was created. However, till some time back, the provisions of compensation to the vulnerable subjects who suffer injury or death during participation in clinical trial of a new drug were not covered under the Drug and Cosmetics Rule, 1945. "However, the insertion of the new Rules 122-DAB, Rule 122-DAC and Rule 122 DD vide first, second and third amendments respectively in 2013 have been able to fulfil the lacuna of the need of such compensatory provisions," the official added. The Committee members included Joint Secretary (Regulation) and Director (Drugs) from Health Ministry, Dr B R Jagashetty, National Advisor (Drugs Control) and Project in-charge, S R Dhaleta, retired Joint Secretary and Legislative Counsel, Legislative Department, Ministry of Law and Justice, and representatives of Department of Pharmaceuticals from Ministry of Chemicals and Fertilisers, a representative from Legal Affairs, Ministry of Law and Justice.

India granted 77% patents to foreign pharma firms 29/12/2014

India granted 77% patents to foreign pharma firms
29/12/2014 07:28
India has granted over 77 per cent of total 4,614 patents in the pharmaceuticals sector to foreign companies in the last ten years, as per the PTI report. Between January 2005 and December 10, 2014, the country granted 3,575 patents to foreign companies against only 1,039 patents to domestic firms in the pharmaceuticals sector, added the media reports. The large portion of patents going to foreign companies clearly indicates that the Indian patent regime is non-discriminatory and strong, sources said. Similarly in 18 other sectors, including agriculture engineering, bio-chemistry, bio-technology, chemical and mechanical engineering, India has accorded over 70 per cent of legal protection to foreign companies. In fact, in sectors such as communication technology, computer science and electronics, the country granted over 90 per cent of patents to global firms during that period. To global firms, India has granted 10,398 patents in mechanical engineering sector, 9,506 in chemicals, 4,937 in electronics, 2,896 in communications technology, 2,236 in bio-technology and 1,709 in computer sciences. On the other hand, domestic firms have got 339 patents in biotechnology, 3,354 in chemicals, 243 in communication technology, 150 in computer science, 384 in electronics and 2,168 in mechanical engineering. The data was collated by the Commerce and Industry Ministry. In recent times, multi-national companies in sectors including pharmaceutical have alleged that Indian intellectual property rights (IPR) laws are weak. However, India has always maintained its stand that its IPR laws are in compliance with international obligations. Commenting on the development, National Intellectual Property Organisation (NIPO), President, T C James said, "These numbers clearly refutes allegations of multi-national firms. After 2005, India has granted maximum number of patents to foreign firms."

FM highlights achievements during past 6 months 29/12/2014

FM highlights achievements during past 6 months
29/12/2014 00:29
The Finance Ministry highlighted its achievements during the past six months including Pradhan Mantri Jan-Dhan Yojana (PMJDY), Varishtha Pension Bima Yojana (VPBY) and actions taken to curb black money, reported PTI. The new government has, after taking over reins of power in May, 2014, constituted a Special Investigating Team (SIT) to implement the decision of the Supreme Court on large amount of money stashed abroad by evading taxes or generated through unlawful activities, the Ministry said in a presentation. It added that India has joined global efforts to combat tax evasion, including supporting implementation of a uniform global standard on Automatic Exchange of Information on a fully reciprocal basis, facilitating exchange of information regarding persons hiding money in offshore centres. Under PMJDY, the government aimed to open 7.5 crore accounts by January 26, 2015. The target has now been revised to 10 crore. "As on December 23, 2014, 9.91 crore accounts have been opened under PMJDY...As on December 1, states of Goa, Kerala, Tripura and Madhya Pradesh, Union Territories of Chandigarh, Puducherry and Lakshadweep have achieved 100 per cent Saturation (all households with at least one bank account)," it said. The government has launched VPBY for the benefit of the vulnerable section of society with limited resources. A monthly pension ranging from Rs 500 to Rs 5,000 per month will be provided to senior citizens of the country. The government re-launched the Kisan Vikas Patra (KVP)to attract investment of people for small savings scheme. The certificate can also be pledged as security to avail loans from the banks and in other case, where security is required to be deposited. A Swachh Bharat Kosh (SBK) has been set up to attract Corporate Social Responsibility (CSR) funds from corporate sector and contributions from individuals and philanthropists to achieve the objective of Clean India (Swachh Bharat) by the year 2019. Also, a 'Nirbhaya Fund' with a corpus of Rs 2,000 crore has been created ensure dignity and safety of girl children and women. To provide a fillip to capital goods and automobile sector, the duty concessions have been extended up to December 31 on small cars, motorcycles, scooters, three wheelers and commercial vehicles to 8 per cent, mid-segment cars to 20 per cent, large cars to 24 per cent and SUVs to 24 per cent.

M-cap of top 7 Sensex firms dips Rs 18,471 cr 29/12/2014

M-cap of top 7 Sensex firms dips Rs 18,471 cr
29/12/2014 00:02
Market captilisation of top seven Sensex companies fell by a combined Rs 18,470.91 crore last week with TCS, ONGC, RIL and Infosys among the losers. However, CIL, SBI and HDFC Bank were the gainers last week in terms of market capitalisation. IT sector bellwether Infosys witnessed an Rs 5,920.38 crore dip in its market value to Rs 223,992.3 crore, being the hardest hit last week. The m-cap of state-run oil & gas sector major ONGC fell by Rs 4,491.63 crore to Rs 294,351.64 crore while that of private sector conglomerate RIL fell by Rs 3,607.1 crore to Rs 287,597.62 crore. The market value of FMCG giant ITC fell by Rs 1,119.17 crore to Rs 293,992.16 crore last week. India’s biggest IT services software exporter TCS witnessed a Rs 675.76 crore decline in its market value to Rs 490,759.30 crore while that of financial player HDFC fell Rs 124.07 crore to Rs 175,134.69 crore last week. The country’s largest lender SBI witnessed an Rs 2,538.35 crore rise in its market cap to Rs 229,683.21 crore last week while that of HDFC Bank rose by Rs 1,715.47 crore to Rs 229,027.50 crore. The market value of state-run coal player CIL climbed by Rs 821.13 crore to Rs 238,663.83 crore last week

Post Session-Sensex surges on firm global cues 29/12/2014

Post Session-Sensex surges on firm global cues
29/12/2014 15:45
The key domestic benchmarks advanced for a second session on the trot on Monday as the Sensex rallied by more than 150 points led by gains in metal and auto stocks tracking a firm trend in Asia and a record finish at Wall Street on Friday. China’s Shanghai Composite rose while Hang Seng surged after reports suggested that China’s central bank eased rules for calculation of deposits and reserve requirements, allowing lenders to make more loans to boost credit growth and help spur a revival in the world’s second biggest economy. However, Japan’s Nikkei 225 fell as a stronger yen curbed the demand for exporter stocks. Back home, the Sensex may trade side-ways this week as investors stick to a cautious approach with the year approaching a close and ahead of the HSBC Manufacturing PMI to be released on Friday.

The BSE SENSEX closed at 27,395.73, up by 153.95 points or by 0.57 per cent, and then NSE Nifty ended at 8,245.85, up by 45.15 points or by 0.55 per cent.