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NSE IFSC Ltd will launch single derivative contracts in 15 global stocks, including giants like Apple Inc, Facebook and Alibaba, as also trade in three additional currencies, including Swiss franc and the US dollar. In a circular, the exchange announced introduction of these new contracts with effect from July 24. The new currency pairs also include the Japanese yen-US dollar and the Australian dollar-US dollar. The 15 global stock derivatives will feature those of Alphabet Inc, Microsoft, China Mobile, Amazon.Com, ExxonMobil Corporation, Johnson and Johnson, JPMorgan Chase, Wells Fargo, General Electric Company, AT&T Inc, Bank of America and Procter and Gamble Company. IFSC is short for International Financial Services Centre. There will also be day spread contracts in F&O of all these underlyings -- instead of two transactions to be done to roll over a contract to the next month series, it can be done as one transaction. This will bring down cost and risk of on...

Taking lead from Asian markets scaling near-decade peak, the benchmark indices opened higher on Thursday with investors keeping a close eye on the June quarter results of index heavyweights Reliance Industries and Wipro, while the market reaction to cabinet's approval to ONGC-HPCL was also hogging the limelight. Meanwhile, the Bank of Japan maintained status quo in its monetary policy decision announced today. Investors now await the European Central Bank meeting later today for clues on its policy outlook. Read More

ITC has slipped 15% to Rs 277, its sharpest intra-day fall in past one decade on BSE, after the Goods and Services Tax (GST) Council increases cess on cigarettes. The stock has fallen nearly 18% in past two trading sessions. Earlier, on October 27, 2008, the stock tanked 17% in intra-day trade. “ The GST Council meeting on Monday raised the cess on cigarettes, in a bid to reduce profiteering by companies and harm to public health. The exact amount of the cess would depend on the length of the cigarettes,” the Business Standard report suggests. Cess on cigarettes of up to 65 mm was raised by Rs 485 per 1,000 sticks in the case of both filter and non-filter ones. Those longer than 65 mm had different cess rates — it increased by Rs 792 per 1,000 sticks for non-filter ones; for filtered ones, between 65 mm and 70 mm, the cess was raised by Rs 621 per 1,000 sticks and for those between 70 mm and 75 mm, it was increased by Rs 792 per 1,000 sticks, added report. CLICK HERE TO...

Venky’s (India) is locked in upper circuit of 5% for the second straight trading sessions at Rs 1,244, also its record high on BSE. The stock of  poultry  firm is continued at its upward movement in past three months, gaining 152% as compared to 7% rise in the S&P BSE Sensex. Venky’s India had reported a net profit of Rs 41.72 crore for the third quarter ended December 2016 (Q3FY17) against loss of Rs 2.73 crore in the same quarter year ago. For the first nine months (April-December) of FY17, it reported an over four-fold jump in net profit at Rs 85.27 against Rs 18.10 crore in year ago period. Meanwhile, foreign portfolio investors (FPIs), foreign institutional investors (FIIs) and high networth individuals have increased their stake during the recently concluded quarter. FPIs/FIIs bought 46,844 equity shares of Venky’s (India) since January, according to March quarter shareholding pattern data filed by the company. Deepak Bhagnani and Kirti Bhagnani purch...

60% of BSE 500 companies have seen a drop in pledged shares Rally in the equities and gradual improvement in the stressed sectors of the economy like power and infrastructure has led to a sharp decline in the shares pledged by companies. In the   BSE   500 universe, 107 companies have reduced their pledged holding since April 2015 of which 46 have brought the pledged holding to zero, data compiled from Capitaline showed. Among these, 46 companies have brought their pledged holding to zero during the period. The data takes into account only the 178 companies in BSE 500 which have reported some pledge activity since Q4FY15. Reliance Defence, Unitech,Tata Global Beverages and GMR Infra are some of the big players who have cut down their pledged holdings during the period. On the other hand, India Cements, Tata Communications, Amar Raja Batteries and Century Plywood are among the companies that have brought down their pledged holding to zero since April, 2015, data showe...

Avenue Supermarts   (ASL), the operator of supermarket retail chain D-Mart, made a stellar debut on the bourses by listing at Rs 604.40 on the BSE, 102% premium against its initial public offer (IPO) price of Rs 299. On the National Stock Exchange (NSE), the stock opened at Rs 600, a 101% premium against issue price.   It hit a high of Rs 650 post its listing and settled 114% higher at Rs 342 on the BSE. On NSE, the stock settled at Rs 648. Independent market analyst Ambareesh Baliga advised investors to book profits because the listing gains have been better than expected and the valuations are also not too cheap. AK Prabhakar of IDBI Capital also suggested to take profits at the current prices as the chances of more upside are limited, while the risk of downside has grown.    “Valuations have become expensive at the listing price of over Rs 600. One can hold the stock for the long-term but traders should book profits and re-enter only i...

Nifty  The benchmark Nifty50 index on Tuesday closed above its crucial 9050-mark for the first time ever as investors saw Prime Minister Narendra Modi's landslide victory in the Uttar Pradesh as an indication of him winning a second term in office in Lok Sabha elections 2019. In intraday trade, the Nifty50 rose as much as 2% to hit its record high of 9,122 points surpassing its previous peak of 9,119 hit on March 4, 2015. The S&P BSE Sensex, meanwhile, gained 615 points to 29562 during the day, 463 points shy of its lifetime high of 30,025-mark.  The 30-share Sensex settled the trade at 29,443, up 496 points, while the broader 50-share Nifty ended at 9,087, up 152 points.  In the broader market, The BSE Mid-Cap and BSE Smallcap indices underperformed the frontline indices by rising 1.4% and 1.2%, respectively.  The market breadth, indicating the overall health of the market, remained strong. 1,686 shares ros...

Reliance Industries   (RIL) has rallied 6% to Rs 1,255, hitting an over 8-year high on the BSE in early morning trade. The stock is trading at its highest level since May 30, 2008. A sharp rally in stock has seen the market capitalisation of RIL crossing Rs 4 lakh crore. At 09:55 am; the stock was trading at Rs 1,250, with m-cap of Rs 405,629 crore, the BSE data shows. The company’s m-cap gained by Rs 57,336 crore in past four trading sessions. Earlier in January 18, 2008, RIL had m-cap of Rs 406,949 crore, the Capitaline data shows. RIL currently stands at number two position in overall m-cap ranking, and is behind the IT major Tata Consultancy Services (TCS) which has m-cap of Rs 488,676 crore. RIL hit a record high of Rs 1,626 on January 15, 2008 in intra-day trade on BSE. It had highest m-cap of Rs 467,537 on January 14, 2008 on the closing basis. In past four trading sessions, the stock surged 17% from Rs 1,074 on February 20, after Reliance Jio Infocomm (RJio)...