Budget 2018 : To keep investors’ confidence, however, Modi's government will need to be seen containing the fiscal deficit, while also increasing spending in key areas of the slowing economy. Click here to read more
Dilip Buildcon bags new order : Dilip Buildcon has bagged a road project worth Rs 565.02 crore from NHAI in Maharashtra. Read more
Budget 2018 : The government will be trying to woo back rural voters and small businesses when it announces the 2018 budget on Thursday and pick up economic momentum as it heads into a season of elections. Click here to read the full story
Fears over long-term tax : Long Term Capital Gains tax was fiercely opposed by prominent stock market investors Samir Arora and Shankar Sharma at The Hindu BusinessLine ’s pre-Budget panel discussion. Click here to read more
Will Jaitley cut corporate tax rate? : As Finance Minister Arun Jaitley sets out to present the last full Budget of this government, there are speculations on whether he will keep his promise of further reducing the corporate tax rates. Click here to read more
The benchmark BSE Sensex was trading down by nearly 200 points and the Nifty below the 11,000 mark as caution crept into the markets ahead of the Union Budget on Thursday. “It's difficult for investors to take a call before the budget. After touching record levels, I see some correction happening, even after the budget,” says Kunj Bansal, executive director & CIO - equity, Centrum Wealth Management Ltd. At 2.30 pm local time, the Sensex was down 193.18 points or 0.54 per cent at 35,840.55 and the Nifty down 59.65 points or 0.54 per cent at 10,990.
Virtual currencies likely under tax net : Since the concept of cryptocurrencies is quite new to the Indian market, the government has not yet clearly spelt out its stand regarding the taxability of trades in bitcoin and other such virtual currencies. But it is safe to say that a tax levy on cryptocurrencies is just a matter of time in India. The upcoming Budget 2018 could well see a beginning in that direction. Read more
Resistance may limit MCX Zinc upside : The key resistance in the ₹229-230 region is holding well as of now for the contract. Inability to break above ₹230 decisively in the coming days can trigger a corrective fall in the short-term. Read more
Axis Bank asset quality improves : Axis Bank reported a substantial fall in slippages in the latest December quarter. This led to lower provisioning, aiding the bank’s earnings. Click here to read more
Mid-session update : The benchmark BSE Sensex was trading down by nearly 170 points as the government is likely to introduce the long-term capital gains tax in the Union Budget. The 30-share BSE index Sensex was trading down by 169.49 points or 0.47 per cent at 35,864.24 and the 50-share NSE index Nifty was down 43.9 points or 0.4 per cent at 11,005.75.
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BSE sectoral indices
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China stocks rebound : China stocks recouped earlier losses to rise by midday, aided by a bounce in real estate and consumer firms. At 04:04 GMT, the Shanghai Composite index was up 5.98 points or 0.17 per cent at 3,493.99. More on this
Nifty futures : Short-term traders can wait for a bounce and go short at 11,070 and also at 11,090. Keep the stop-loss at 11,110 for the target of 11,010. Click here to read more
Strides Shasun gets USFDA nod : Strides Shasun’s wholly-owned subsidiary has received approval from the US health regulator for Piroxicam capsules and anti-fungal cream Nystatin and Triamcinolone Acetonide ointment. Read more
Suven gets product patents: Suven Life Sciences has secured a product patent each from Aripo and South Korea corresponding to NCEs for the treatment of disorders associated with neurodegenerative diseases. Click here to read more
Silver futures : Silver prices rose Rs 99 to Rs 39,771 per kg at the futures trade as participants created positions owing to a firm trend in precious metals overseas. More on this
Gold futures : Gold prices rose Rs 62 to Rs 30,114 per 10 grams at the futures trade as speculators raised bets amid a firm trend overseas. Read more
US dollar inches lower : The dollar index, which measures the greenback against a basket of six major currencies, was last down 0.1 per cent on the day at 89.062 , staying above a three-year low around 88.43 set last week. Click here to read more
Crude oil slips: Brent crude was down 0.69 cents, or about 1 per cent, at $68.33 a barrel by 0244 GMT, a nearly two-week low. US West Texas Intermediate futures were down, 67 cents, or 1 per cent, at $63.83, after falling to its weakest level in more than a week. Read more
Gold edges up : Spot gold had risen 0.2 per cent to $1,341.15 per ounce by 0359 GM. US gold futures for February delivery rose 0.4 per cent to $1,339.80 per ounce. More on this
Fears over long-term capital gains tax pulled the Sensex down by over 120 points. LTCG tax was fiercely opposed by prominent stock market investors Samir Arora and Shankar Sharma. However, talks of long-term capital gains tax have equity markets worried , but the sentiments may not be impacted purely due to its imposition. The 30-share BSE index Sensex was trading down by 124.02 points or 0.34 per cent at 35,909.71 and the 50-share NSE index Nifty was down 31.3 points or 0.28 per cent at 11,018.35.
Swaraj Engines buyback : The company shares will remain in focus, as its buyback offer opens today. It proposes to buy back 2.94 lakh shares (worth ₹70.73 crore) at ₹2,400 a share. Read more
NTPC, ICICI Bank results : L&T, NTPC, ICICI Bank, Reliance Infra and Vedanta, are among over 85 companies that will declare their results today. Read more
IOC shares plunge : Shares of Indian Oil jumped as Q3 profit beat estimates. The refiner's stock jumped as much as 2.6 per cent to Rs 427.40. The stock climbed to its highest since October 27, 2017. Read more
Nikkei falls to 4-week low: The Nikkei shed 0.2 per cent to 23,239.73 after falling to as low as 23,184.00, its weakest since January 4 , the first trading day of the year. The index briefly stepped into positive territory in early trade. More on this
Dow posts biggest loss: The Dow Jones Industrial Average fell 1.4 per cent to 26,076.89, the biggest drop in percentage terms in more than eight months. The broad-based S&P 500 fell 1.1 per cent to 2,822.43, while the tech-rich Nasdaq Composite Index shed 0.9 per cent to 7,402.48. Click here to read more
QIP issue : L&T Finance Holdings, Hindustan Copper and Som Distilleries & Breweries will meet on Wednesday to consider fund-raising plans. Read more
The Sensex fell below the 36,000-mark as domestic insitutional investors offloaded equities ahead of the Union Budget to be presented tomorrow. Domestic sentiment was also hit due to FII outflows. The 30-share BSE index Sensex was trading down by 60.02 points or 0.17 per cent at 35,973.71 and the Nifty down by 16.45 points or 0.15 per cent at 11,033.20. Foreign funds sold shares worth Rs 105.56 crore, while domestic institutional investors offloaded equities worth Rs 281.65 crore yesterday.
MF space abuzz with new plans : A host of fund houses, including Mahindra Mutual, Larsen & Toubro, Kotak Mutual Fund and Edelweiss Asset Management, are launching equity schemes with different themes. Read more
Day Trading Guide for Jan 31 : Given below are supports and resistances for Nifty 50 futures and seven key stocks that can help in your intra-day trading. Click here to read the full text
KPIT Technologies: The board of KPIT Technologies has approved a draft composite scheme for amalgamation of Birlasoft (India) with itself and the demerger of the engineering business of the company into KPIT Engineering. More on this
Today's stock pick: Investors or traders with a short-term perceptive can sell the stock of PC Jeweller at current levels. On Tuesday, the stock tumbled 7.6 per cent decisively breaking below a key support level of ₹550 accompanied by above average volume. Click here to read more
9.05 am
The 30-share BSE index Sensex fell 79.81 points or 0.22 per cent to 35,953.92 and the 50-share NSE index Nifty was down 30.85 points or 0.28 per cent at 11,018.20.