JV Financial
Follow us on twitter  

World Indices

Indices Value Up/Dn Up/Dn(%)
DOW FUT 21350 -10 0.05
DAX 12770.83 +37.42 0.29
CAC40 5295.75 +29.63 0.56
FTSE100 7446.80 +22.67 0.30
TAIWAN 10514.03 -0.07 00
SHANGHAI 3182.66 -2.78 0.09
NIKKEI 20216.38 +63.03 0.31
HANGSENG 25894.55 +22.66 0.09

JV Capital Update

Stock News

Closing Report

Sensex slides below 31,000 on negative European cues


Key benchmark indices closed the first trading session of the week with modest losses. The barometer index, the S&P BSE Sensex, fell 179.96 points or 0.58% to settle at 30,958.25. The Nifty 50 index fell 63.55 points or 0.66% to settle at 9,511.40. The Sensex settled below the psychological 31,000 level. Negative cues from European markets spoiled investors' sentiment.

Geopolitical tensions also weighed on market sentiment amid reports suggesting that China today, 27 June 2017 accused Indian troops of crossing the boundary in the Sikkim region and demanded their immediate withdrawal, while asserting that it stopped the Indian pilgrims who enter Tibet via the Himalayan pass of Nathu La for safety reasons in view of the border issue.

Key indices opened higher after a holiday. They later slipped into the negative terrain amid lack of key domestic or global cues to boost investors' spirits. Indices extended slide in afternoon trade as selling pressure intensified amid weakness in European markets. Thereafter, indices languished in negative zone for the remainder of the session.

The Sensex fell 179.96 points or 0.58% to settle at 30,958.25, its lowest closing level since 25 May 2017. The Sensex rose 156.75 points or 0.5% at the day's high of 31,294.96. It fell 291.13 points or 0.93% at the day's low of 30,847.08.

The Nifty 50 index fell 63.55 points or 0.66% to settle at 9,511.40, its lowest closing level since 25 May 2017. The index rose 40.45 points, or 0.42% at the day's high of 9,615.40. The index fell 101.50 points, or 1.06% at the day's low of 9,473.45.

The S&P BSE Mid-Cap index declined 0.79%. The S&P BSE Small-Cap index lost 1.57%. The decline in both the indices was higher than the Sensex's decline in percentage terms.

The broad market depicted weakness. There were more than two losers against every gainer on BSE. 1,881 shares declined and 711 shares rose. A total of 180 shares were unchanged.

The total turnover on BSE amounted to Rs 3591.59 crore, lower than turnover of Rs 7395.04 crore registered during the previous trading session.

Bank stocks declined. Among public sector banks, Axis Bank (down 2.34%), Federal Bank (down 2.13%), Yes Bank (down 1.47%), ICICI Bank (down 1.2%), Kotak Mahindra Bank (down 1.13%), HDFC Bank (down 0.63%), IndusInd Bank (down 0.52%) and City Union Bank (down 0.5%), edged lower. RBL Bank rose 0.37%.

Among private sector banks, Syndicate Bank (down 4.97%), Punjab National Bank (down 4.69%), Canara Bank (down 4.52%), Indian Bank (down 4.46%), Vijaya Bank (down 4.15%), Andhra Bank (down 4.03%), Allahabad Bank (down 3.88%), Bank of Baroda (down 3.64%), United Bank of India (down 3.33%), State Bank of India (down 3.27%), Union Bank of India (down 2.83%), Corporation Bank (down 2.8%), Punjab & Sind Bank (down 2.74%), Bank of Maharashtra (down 2.63%), IDBI Bank (down 1.69%), UCO Bank (down 1.18%) and Bank of India (down 0.3%), edged lower. Dena Bank (up 0.90%) and Central Bank of India (up 1.20%), edged higher.

Capital goods stocks declined. BEML (down 3.64%), Bharat Electronics (down 2.64%), SKF India (down 2.6%), AIA Engineering (down 2.46%), Punj Lloyd (down 2.38%), Siemens (down 2.06%), Crompton Greaves (down 1.78%), GE Power India (down 1.76%), Lakshmi Machine Works (down 1.62%), Praj Industries (down 1.55%), Reliance Defence and Engineering (down 1.48%), Suzlon Energy (down 1.36%) and GE T&D India (down 0.32%), edged lower. ABB India (up 0.17%), Jindal Saw (up 0.30%), Thermax (up 0.40%) and Havells India (up 1.57%), edged higher.

Index heavyweight and engineering and construction major L&T lost 1.23% to Rs 1,701.80. The company said its construction division has won orders worth Rs 2552 crore across various business segments. The announcement was made during market hours today, 27 June 2017.

State-run Bharat Heavy Electricals (Bhel) fell 0.63% to Rs 133.95. The company announced that it secured an order for setting up 15 megawatts (MW) Solar Photovoltaic (SPV) Power Plant on engineering, procurement and construction (EPC) basis, in Gujarat. The order has been placed on Bhel by Gujarat Alkalies and Chemical (GACL) for setting up the SPV Power Plant at Gujarat Solar Park at Charanka in Gujarat. The announcement was made during trading hours today, 27 June 2017.

Software major Infosys declined 1.80% to Rs 926.35. The company issued a press release regarding its settlement with New York Attorney General. The company said that its agreement concluded the State of New York's investigation relating to the amount of taxes the company paid in 2010-2011 without any criminal or civil charges being filed. While this investigation centered on alleged paperwork errors, the company committed no wrongdoing and denies all allegations made in this regard, Infosys said.

This settlement relates to legal issues already resolved under the 2013 settlement with the US Department of Justice, and was reached by both parties to avoid protracted litigation.

Infosys said it maintains robust policies and procedures to ensure adherence with all applicable regulations and laws. Infosys will continue to focus on boosting American innovation, hiring American workers and better serving its valued customers across the United States, it added. The announcement was made after market hours on Friday, 23 June 2017.

IT major Tata consultancy Services (TCS) fell 0.62% to Rs 2,345.90. The company announced after market hours today, 27 June 2017, that TMX Group awarded TCS, the implementation of a single, integrated technology platform for Canada's clearing and settlement businesses. The innovative platform, called TCS BaNCS for Market Infrastructure, will replace the legacy systems deployed by The Canadian Depository for Securities Limited (CDS) and Canadian Derivatives Clearing Corporation (CDCC), subject to regulatory approval where required. Technology integration across TMX Group's cash and derivatives clearing businesses is the next significant step in the company's evolution as a premier client-driven solutions provider to the Canadian and global capital markets.

In August 2016, CDS and CDCC began an initiative to align, simplify and integrate risk management tools, operations, systems and business development functions to become more responsive and adaptive in serving client needs. This new solution will enable TMX to deliver a more seamless client experience between the two clearing houses and provide rich browser-based access and straight-through processing using industry standard messaging through ISO 15022, ISO 20022, FIX and FIXML. Additional benefits to adopting the platform include enhanced reporting and metrics, a streamlined approach to collateral management and the future development and integration of emerging technologies.

The Sensex declined for the second session in a row. The Sensex fell 332.49 points or 1.06% in two sessions from a close of 31,290.74 on 22 June 2017. The Sensex has fallen 187.55 points or 0.60% in June 2017 so far (till 27 June 2017). The Sensex has gained 4,331.79 points or 16.27% in the calendar year 2017 so far (till 27 June 2017). From a 52-week low of 25,717.93 hit on 21 November 2016, the barometer index has risen 5,240.32 points or 20.38%. From a record high of 31,522.87 hit on 22 June 2017, the barometer index has fallen 564.62 points or 1.79%.

Overseas, European shares declined as a drop in autos stocks after Germany's Schaeffler cut its profit outlook and disappointment over a failed buyout of Stada spoiled investors sentiment.

The European Central Bank (ECB) chief Mario Draghi gave an upbeat view of the euro zone economy today, 27 June 2017, but still urged the need for monetary policy to become accommodative.

Draghi yesterday, 26 June 2017, defended the ECB's easy monetary policy. Draghi, speaking to university students in Lisbon, reportedly said super low rates create jobs, foster growth and benefit borrowers, ultimately easing inequality.

Asian stocks witnessed mixed trend as investors watched for signals from central bankers' speeches. Federal Reserve Chair Janet Yellen is due to speak in London today, 27 June 2017.

US equities closed mixed yesterday, 26 June 2017, as a rise in the financial sector helped offset losses from large-cap technology stocks.

Online Trading India
Research Report

Registered & Corporate Office

805, Chiranjiv Tower, Nehru Place, Delhi-110019,
Tel: +91 - 11 - 41654880
+91 - 11 - 41654861