Indian Stock Market Trading Updates by Marketmagnify

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Equity benchmarks turned volatile after strong opening on Wednesday. The 30-share BSE Sensex opened more than 100 points higher but could not sustain entire gains. The index rose 53.10 points to 25869.46 and the 50-share NSE Nifty advanced 7.15 points to 7921.85. HDFC gained 2.4 percent after the company's board approved 10 percent stake sale in its insurance arm HDFC Life Insurance through public offer. 

TCS fell 1.6 percent after missed analysts' expectations on Q4 margin front, though profit beat forecast. The Indian rupee gained in the early trade today. It has opened higher by 28 paise at 66.27 per dollar versus 66.55 Monday.Telecom stocks such as Bharti Infratel and Idea Cellular also came under selling pressure in early trade. Zee Entertainment, M&M and Maruti Suzuki were other Nifty stocks trading sharply lower.

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The S&P BSE Sensex pared gains after rallying over 100 points in morning trade on Wednesday led by gains in HDFC, ITC, HDFC Bank, L&T, and Tata Steel.The Nifty50 was trading comfortably above its crucial level of 7,900 supported by gains in power, oil & gas, metal, consumer durable, capital goods, and banking stocks. 

India's stock, debt, and currency markets will be closed on Tuesday for a domestic holiday. Trading will resume on Wednesday.The broader NSE index rose 0.82 percent to end at 7,914.70, while the benchmark BSE index gained 0.74 percent to close at 25,816.36 on Monday.

March trade deficit narrows MoM to $5.07 bn vs $6.54 bn

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India’s trade deficit or the gap between merchandise imports and exports touched a 5-year low to come in at USD 5.07 billion in March from February’s USD 6.54 billion. On year-on-year basis, the deficit was down to USD 118.46 billion from USD 137.69 billion. A sharper rise in exports, which expanded month-on-month (MoM) to USD 22.7 billion from USD 20.7 billion aided in narrowing the deficit even while imports too widened marginally to USD 27.79 billion from USD 27.28 billion.  Oil imports were only a tad higher MoM at USD 4.8 billion, but a major jump was seen in silver imports to USD 210.9 million compared to USD 50.61 million in February.

Good monsoon to send encouraging signals for inflation, growth

The above normal monsoon forecast by Met department is likely to bring encouraging signals for the Indian economy both in terms of inflation and growth prospects, says an SBI Research report. According to the research report, after two successive years of drought, the prediction of above normal monsoon will bring cheers to every sphere of the economy. "As agriculture in India depends heavily on monsoons and given its contribution to Gross value added (GVA) growth is around 15 percent, the above normal monsoons will surely have a positive impact on agriculture, thereby boosting economic growth," the report said.

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LIC Housing Q4 profit up 18%, misses forecast on higher tax cost

LIC Housing Finance's fourth quarter profit missed analysts expectations on Monday, rising 18.5 percent to Rs 448 crore compared to Rs 378.2 crore in year-ago period, impacted by higher tax expenses and provisions. Net interest income, the difference between interest earned and interest expended, grew by 26.5 percent to Rs 822 crore from Rs 650 crore in same period, which was in line.

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Indian Stock Market Trading Tips and Trends

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The market has opened sharply higher on Monday with the Sensex rising more than 200 points following Infosys' Q4 earnings but could not sustain gains for long due to weakness in global peers. The Sensex rose 10.39 points to 25637.14 while the Nifty fell 6.15 points to 7844.30.

Infosys shares jumped nearly 8 per cent to their 52-week high on Monday after India's second biggest outsourcer forecast stronger-than-expected revenue for the current financial year.Infosys said its 2016-17 financial year constant currency revenue is likely to grow between 11.5 to 13.5 per cent, higher than industry average of 10-12 per cent.

Indian Share Market Trading Tips and Trends

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The S&P BSE Sensex pared most gains after jumping over 200 points in early morning trade led by gains in Infosys, Adani Ports, Lupin, ITC and Bharti Airtel.The market tracked weak cues from other Asian markets and crude oil markets. The breakdowns in talks in Doha oil producers meet over an agreement to freeze oil output at January high also weighed investors' sentiments. 

The benchmark BSE index rose 1.91 percent, while the broader NSE index gained 1.84 percent on Wednesday.The benchmark 10-year bond rose 2 basis points to 7.44 percent from its previous close, while the rupee weakened slightly to 66.64/65 from 66.4250/4350.