Share Market Live Updates for Today: 15 April 2015
The Wholesale Price Inflation (WPI) for the month of March has fallen 2.33% compared to the same month last fiscal. In the preceding month the WPI figure was down 2.06%.This is the fifth consecutive month of deflation in wholesale prices, a clear reflection of lower commodity prices that may nudge Reserve Bank of India to cut policy rates.
Minister of state for finance Jayant Sinha today spoke in favour of full capital account convertibility of the rupee to unleash the true potential of the Indian economy. He said that that India should embrace this policy if it has to become a top global economy.
6 out of the 12 sectoral indices of BSE are in green. BSE Bankex, up 1.1% % is the top gainer followed by BSE FMCG index up 1% and BSE Consumer Durables up 0.8%. BSE IT index has lost nearly 1%.
ITC has emerged as one the top gainers in late noon trades and is up around 2.3%. JP Morgan has cut target price for ITC from Rs 370 to Rs 365 while keeping the rating unchaged at ‘neutral.’ From the FMCG pack HUL has declined around 0.6%. JP Morgan has raised the target price for HUL from Rs 790 to Rs 880.
ICICI Bank and SBI have gained 1% and 2.5% respectively. On Tuesday, ICICI Bank reduced its home loan rates by 25 basis points.
Capital goods stocks are trading mixed. L&T has gained 0.7% while BHEL has declined over 2%.
From the metal pack, Sesa Sterlite has posted gains over 3% while Hindalco and Tata Steel have declined 0.6% and 1.1% respectively.
Tata Motors has declined around 2%. Tata Motors has launched the newest model of Jaguar called XE, an entry level luxury saloon car, from its factory in the West Midlands region of England.
Bajaj Auto has declined around 0.7%. Bajaj Auto, on Tuesday, expanded its Pulsar range in the adventure sport motorcycle category, AS200 and AS150, priced at Rs 79,000 and Rs 91,550 (ex-showroom Delhi).
Bharti Airtel has declined over 2%. A meeting of the Board of Directors of Bharti Airtel will be held on April 28, 2015, to consider and take on record the Audited Financial Results for the fourth Quarter and financial year ended on March 31, 2015.
Most Asian markets declined today after China’s growth data showed further signs of slowdown in the world’s second largest economy. Growth slowed down to a six-year low at 7% in the first quarter for China with both retail sales and industrial output missing forecasts. Nikkei ended 0.2% lower while in the Hang Seng index ended higher by 0.2% and Shanghai Composite index fell 1..3%.
European markets have opened higher ahead of the European Central Bank’s meet. The Bank is expected to keep rates unchanged. FTSE 100 has gained 0.4% while CAC 40 and DAX indices have gained around 0.6% each.
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