Wall Street Ends Down After Fed Statement, GDP Data

US stocks ended lower on Wednesday as the Federal Reserve cited weakness in the US economy and data showed US growth slowed more sharply than expected in the first quarter. 

But the Fed's acknowledgement of weakness in some sectors of the economy makes it more likely it will not be ready to raise until at least September, which kept stocks from falling further.

"We all know the Fed would love to start normalizing rates, but the simple fact is, the data does not warrant that action right now."

While concerned about lingering economic weakness, US investors also are worried about the possibility of the Fed raising interest rates too soon.

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Opening Bell: Nifty Likely To Open In Red Ahead Of Expiry

The Nifty is likely to open lower Thursday ahead of the April futures & options expiry. The SGX Nifty index was trading at 8210, down 20 points, at 7.42 am. Volatility ruled the market on Wednesday with the Nifty ending at 8239.75, down 45.85 points or 0.5 percent while the Sensex was down 170.45 points or 0.6 percent at 27225.93. 

In key earnings today, Indicates IDFC’s profits to jump year-on-year due to low base impact. The company’s asset quality will be maintained and net interest margins is expected to be stable at 3.7-3.8 percent.

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Sensex Below 27000, Nifty Weak, Axis Up 3%, Metals & IT Dip

The Sensex has fallen below 27000, at down 227.58 points or 0.8 percent at 26998.35. The Nifty is down 69.85 points or 0.8 percent at 8169.90. About 468 shares have advanced, 751 shares declined, and 101 shares are unchanged. 

Axis Bank is still up 3 percent while ONGC, SBI and Reliance are major gainers in the Sensex. Among the losers are HDFC, Dr Reddy's Labs, Bharti Airtel, HUL and BHEL.

Weakness crawls in the market as the Nifty falls belows 8200. The 50-share index is at 8194, down 45.75 points or 0.6 percent. The Sensex is down 143.77 points or 0.5 percent at 27082.16. About 400 shares have advanced, 572 shares declined, and 79 shares are unchanged.

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Sensex Slips Over 150 Pts, Nifty Weak, Vedanta Falls 4%

Indian stocks in the very near term look a bit oversold given the sharp rundown in the past few weeks, who said he expects the market to move with a positive bias for the next few days. however, that frontline shares still did not offer any margin of safety and it would be still some time till they were in the "buying range". "For now, the market looks reasonably expensive." "But in the broader market, you may get some chances to buy."

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Asian Stocks Open Mixed On US Lead, Earnings

Asian equity markets opened mixed on Wednesday, mirroring Wall Street's finish overnight, and as investors digested the raft of earnings due in the region. Also in focus was the Federal Market Open Committee (FMOC) meeting which began on Tuesday and will conclude with the release of a post-meeting statement later in the day. 

Overnight, US stocks ended a volatile session mixed, with strong earnings from Merck and gains in IBM leading the blue-chip Dow and S&P 500 higher, closing up 0.4 percent and 0.3 percent each. However, the tech-heavy Nasdaq underperformed, finishing 0.1 percent lower.

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Dow, S&P End Up With Merck, IBM, Nasdaq Slips With Apple

The Dow and S&P 500 ended a volatile session higher on Tuesday, helped by strong earnings from Merck and gains in IBM after it boosted its dividend , while the Nasdaq fell with Apple. Adding to volatility just before the close, shares of Twitter dropped as much as 24 percent after its results were published early. The stock closed down 18.2 percent at USD 42.27.

IBM shares rose 1.9 percent to USD 173.92, giving the Dow its biggest boost. The company hiked its quarterly dividend by 18 percent, the biggest increase in five years. Shares also closed above their 200-day moving average, a bullish technical signal.

Apple swung between gains and losses a day after reporting results. The stock hit a record high in early trading but shares ended down 1.6 percent at USD 130.56, weighing on the Nasdaq.

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Wall Street Ends Down As Biotechs Drop 4 Percent

US stocks ended down on Monday, led by losses in biotech shares after disappointing news from several companies including Amgen. The Nasdaq Biotech Index sank 4.1 percent, its biggest daily percentage loss since March 25, while the S&P Healthcare index, down 1.8 percent, was the biggest drag on the benchmark S&P 500 index. 

Amgen shares led the S&P 500's decline, dropping 3.3 percent to USD 162.38 after U.S. regulators said Amgen's skin cancer immunotherapy cannot be considered for an accelerated review at this time.

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Sensex Gains Strength, Tata Motors, Maruti Extend Rally

Pharma major Wockhardt continued its downtrend today as the company decided to recall its remaining batches of drugs from the US market, which was manufactured prior to the USFDA import alerts. On Monday, the share plunged 18.31 percent to close at Rs 1,330.05 on the BSE. The company in its filing said as a measure of preparedness and as an abundant precaution, the company has now decided to recall, as a part of remedial measure all the remaining batches in the US market that were manufactured prior to the US FDA import alerts even though there is no evidence of risk to patient safety from the products currently available in the US market. During the last USFDA cGMP inspection of the facilities at L1- Chikalthana and Waluj in Aurangabad, Maharashtra, some observations were reported pertaining to batches of some products manufactured prior to the USFDA import alerts. 

Whereas the company continued to supply some of the products in the US market manufactured in the same facilities, several batches of other products, manufactured prior to the import alerts may still be in the US market.

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China Stocks Rise To Multi-Year Highs Earnings In Focus

Shanghai and Hong Kong led Asian equities higher on Monday as record highs in the U.S. last week boosted sentiment and as investors monitored earnings reports. On Wall Street, the Nasdaq Composite and S&P 500 both closed at record highs on Friday following tech third-quarter earnings reports. 

Among big movers, Microsoft rallied 10 percent after posting earnings of 61 cents per share on USD 21.73 billion on revenue that beat estimates.

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Tech Triumvirate Propels Nasdaq, S&P To Record Highs

The Nasdaq Composite and S&P 500 chalked up record high closes on Friday, propelled by strong results from tech behemoths Google, Amazon and Microsoft. The Nasdaq Composite added 0.71 percent to end at 5,092.09, its second straight record high close. The S&P 500 rose 0.23 percent to a record high close of 2,117.69 points, barely above its previous high of 2,117.39 set on March 2. Amazon (AMZN.O) surged 14.13 percent to a lifetime high after revenue beat estimates. 

Google (GOOGL.O) ended 2.9 percent after reporting higher quarterly results while Microsoft (MSFT.O) jumped 10.45 percent after it topped estimates. The S&P had hit an intraday high of 2,120.92. The Nasdaq earlier reached 5,100.371, the highest since its intraday record of 5,132.52 in March 2000 that marked the peak of the dot-com bubble.

“This chapter that the Nasdaq is writing is more suggestive that it's a market that, while still technology-weighted, is much more mature," said Steven Baffico, chief executive officer at Four Wood Capital Partners in New York. "The companies in it reflect that, companies like Cisco and Microsoft.” Microsoft, Amazon, Google and Starbucks accounted for the bulk of the Nasdaq's rise on Friday.

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Sensex Down Over 100 Pts, Nifty Holds 8350 ITC Gains 1%

The market is trending lower. The Sensex is down 122.70 points at 27612.32 and the Nifty is down 43.90 points  at 8354.40. About 539 shares have advanced, 1113 shares declined, and 109 shares are unchanged. 

ITC is up 1 percent while ONGC, BHEL, Tata Steel and Hindalco are top gainers in the Sensex. Among the losers are HDFC, Axis Bank, Cipla, M&M and L&T. Infosys' fourth quarter profit may fall 2.7 percent sequentially to Rs 3,161 crore on weak operational performance and slow growth in revenues. 

Rupee revenue at Rs 13,818 crore during January-March quarter, up 0.15 percent over Rs 13,796 crore in December quarter and dollar revenues growth at USD 2,224 million, up 0.3 percent on sequential basis while constant currency growth is seen at around 2-2.5 percent (against its peers TCS (1.6 percent), HCL Tech (2.7 percent) and Wipro (1.2 percent). Infosys has the lowest exposure to currencies other than USD and generates more than two-third of its revenues in US dollar against 50-55 percent for peers.

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Wall Street Ends Higher, Nasdaq Sets Closing Record

The Nasdaq Composite, the US market index most closely associated with technology stocks, closed at an all-time high on Thursday, surpassing a 2000 record set just before the dotcom crash. Its new record close of 5,056.06 capped a slow, unsteady climb since it touched a 2002 low of 1,114.11, that spanned an economic recession, the rise of biotech and social media and the explosive growth of mobile phones that has helped make Apple Inc the most valuable company in the United States. 

The Nasdaq traded as high as 5,073.091 on Thursday, led by shares of Apple, which has been among the biggest positive influences on the index in recent years. The index's last record close of 5,048.62 was hit on March 10, 2000. The benchmark S&P 500 index also set an intraday high, but closed shy of a new record.

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Sensex Slips Into Red, Nifty Flat Jet Up 3%, M&M Falls 1%

The market is slipping into red. The Sensex is down 27.28 points at 27862.85 and the Nifty is up 4.20 points at 8433.90. About 1382 shares have advanced, 735 shares declined, and 128 shares are unchanged. M&M, Wipro, Sun Pharma, NTPC and SBI are losers while Tata Steel, Maruti, Coal India, Tata Power and HUL are gainers in the Sensex. 10:30 am Weak monsoon: Hours after the official forecast suggested "below normal" monsoon this year, domestic rating agency Crisil on Wednesday said a second straight year of weak rains will dent its 7.9 percent GDP growth estimate by 0.50 percent . 

"According to our calculations, a deficient monsoon, if it comes true, will shave off 0.50 percent from our GDP forecast of 7.9 percent for fiscal 2016." A weak monsoon will decrease the efficacy of India's irrigation ecosystem and hit the agricultural output and farmers adversely. The Indian Meteorological Department (IMD) said the country is likely to witness a "below normal" monsoon this season because of the El Nino phenomenon.

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Earnings Cloud Drags Down Dow ; Nasdaq Gains On Biotech M&A

US stocks were a mixed bag on Tuesday, with the Dow ending lower after a handful of uninspiring earnings reports while the Nasdaq closed near a record high following a proposed biotech merger. Travelers, DuPont and IBM shares weighed on the Dow Jones industrial average. 

DuPont reported lower sales in all of its businesses and said a strong dollar would take a toll on its full-year earnings. IBM also mentioned currency effects when it reported a fall in revenue late on Monday. DuPont ended the session 2.95 percent lower at USD 70.69 and IBM fell 1.14 percent to USD 164.26.

The Nasdaq ended the day less than 35 points away from its March 2000 all-time closing high. Mylan shares rose 8.85 percent to end at USD 74.07 after Israeli drugmaker Teva made an unsolicited offer of USD 82 per share, in what could be the drug industry's largest takeover this year. Teva rose 1.37 percent. The Nasdaq Biotech index ended up 1.87 percent. Yum Brands and Broadcom gained about 4 percent each after they posted earnings that beat modest expectations.

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Sensex, Nifty Open In Green; Sun Pharma Up, Wipro Falls 4%

The market opens in green with strong Asian cues. The Sensex is up 37.47 points at 27713.51, and the Nifty is up 9.30 points at 8387.05. About 521 shares have advanced, 144 shares declined, and 74 shares are unchanged. Sun Pharma is up 1.5 percent while Dr Reddy's Labs, SBI, Axis Bank and Bajaj Auto are top gainers. Dragged by weak earnings, Wipro is down 4 percent. Among other laggards are Hindalco, GAIL, Bharti Airtel and Sesa Sterlite. The Indian rupee has opened flat at 62.81 per dollar against previous day's closing value of 62.85 a dollar. 

The dollar is mixed against major currencies, with the euro pivoting to modest gains against the greenback after euro zone finance ministers moved away from fixing a deadline for Greece to come up with fiscal reforms. "We expect the rupee to appreciate backed by the strength we expect to see in local equities today. The USD-INR pair is expected to trade in the range of 62.30-63.30/dollar." US markets closed mixed on the back of lackluster earnings. European markets ended flat but Asia is positive in morning trade with Japan's Nikkei reclaiming the psychologically-important 20,000 mark. Brent crude slipped below USD 62 dollars per barrel on anticipation of another weekly build in US crude stockpiles. Gold held steady as the US dollar turned lower and bolstered bullion's appeal.

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