Top Market Updates News 09 March 2016.

1. Stocks of Container Corporation of India were trading 2.50 per cent down at Rs 1195.95 (9.24 am) as government will sell 5 per cent stake in the company at a minimum price of Rs 1,195 a piece, to garner Rs 1,165 crore.

2. Triggered by weak global cues, the 30-share Sensex opened 131.96 points down at 24,527.27. Nifty 50 index opened 49.20 points down at 7,436.10.

3. Oil prices fell 3 percent on Tuesday, ending six days of gains for benchmark Brent crude, as Goldman Sachs suggested the rally was unsustainable and industry data showed U.S. stockpiles reached record highs again last week.

4. Gold turned lower on Tuesday, falling below last week’s 13-month high on profit-taking as the market’s recent rally appeared to lose momentum ahead of the next U.S. Federal Reserve meeting.

5. Asian shares stepped back further from two-month highs on Wednesday as a retreat in oil prices and weak Chinese trade data revived concerns about the health of the global economy.

6. Notwithstanding the threat by US-based agri-biotech firm Monsanto to pull out of the country if its royalty income is slashed, the trait value on Bt cotton seeds is set to be cut by a steep 70% to R49 a packet, reports Sandip Das in New Delhi.

7. Foreign portfolio investors’ (FPIs’) appetite for Indian debt paper has started to pick up marginally with the cut-off bid to acquire limits on G-secs coming in at 4.41 basis points at Tuesday’s auction, according to sources in the bond market.

8. Siemens has hived off its healthcare division to the parent (SIE GR, buy, 89 euros) for R3,050 crore, in line with global strategy of managing this division separately.

9. As per a filing with the stock exchanges, the Coal India’s (CIL) board has approved an interim dividend of R27.4/share for FY16. The payout date is March 21, and the ‘record date’ for payment is March 15.

10. The Securities & Exchange Board of India (Sebi) is expected to announce new regulations for algorithm trading after its board meeting on March 12.

11. The export of cashew kernel from India is likely to suffer further with the recent Budget imposing an import duty on raw cashew.

12. Even as sugar prices are improving and the fair and remunerative price (FRP) arrears for the sugar season of 2014-15 and 2015-16 in Maharashtra have come down, sugar mills still owe farmers some R241 crore for the previous season.

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Top Market News 17 Dec. 2015

Sensex was trading 12.44 points down at 25,481.93. Nifty was trading 6.45 points down at 7,744.45. Shares of the steel companies were trading in positive terrain after Ministry of steel published draft order on its website prohibiting production, sales and trading without Bureau of Indian standards (BIS) approval. Tata Steel was trading 2.25 per cent up at Rs 250.40, while JSW Steel was trading 2.61 pe cent up at Rs 1035.00 and Steel Authority of India surged 1.44 per cent at Rs 45.80. 

 Oil and Natural Gas Corp (ONGC) shares were trading 2.27 per cent down at Rs 221.40 after ONGC Videsh Ltd on Wendesday got government nod to buy 15 per cent stake in Russia’s Vankor oilfield for $1.26 billion, the first oil deal since the Narendra Modi-led government came to power. Sensex was trading 13.24 points up at 25,507.61. Nifty 50 was trading 8.35 points up at 7,759.25.

Bhushan Steel share price was trading 0.78 per cent up after the National Green Tribunal on Wednesday allowed Bhushan Steel and Strips Ltd’s Sahibabad plant in Uttar Pradesh, which had been ordered to be closed for polluting the environment, to operate for three weeks. Sensex was up 19.23 points at 25,513.60. Nifty was up 8.25 points at 7,759.

Sensex pared most of its initial gains and was trading 10.98 points up at 25,505. Nifty was up 6.30 points at 7,757.20

The rupee appreciated by 13 paise at 66.60 against the US dollar in early trade today on increased selling of the American currency by exporters even as the US Federal Reserve raised interest rates for the first time in nearly a decade. Nifty was up 16 points at 7,767.

Morgan Stanley upgraded SKS Microfinance to over-weight (OW) from equa-weight (EW) on high earning visibility. The share price of SKS Microfinance was trading 1.17 per cent up at Rs 472.50.

Nifty Bank slipped over 85 points from its day’s high. The index was trading 0.52 per cent up at 16,665.40. Nifty Bank opened at 16,704.05 and had touched a high and low of 16,751.85 and 16657.70, respectively, in trade so far. Nifty 50 index was up 0.29 per cent at 7,773.45.