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Nikkei tumble after BOJ inactions
Apr 28,2016

The Japan share market stumbled on Thursday, 28 April 2016, as risk aversion selloff triggered after the Bank of Japan disappointed by holding off on expanding monetary stimulus. Selloff pressure intensified after official data showed that consumer prices fell 0.3 per cent in March from a year earlier, the first drop in five months. All 33 TSE industry sectors were down, with Land Transportation, Electric Appliances, Iron & Steel, Pharmaceutical, Air Transportation, and Real Estate stocks being major losers. The 225-issue Nikkei average tumbled 624.44 points, or 3.61%, to close at 16666.05. The Topix index of all first-section issues ended down 43.75 points, or 3.16%, at 1340.55.

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Australia Market bounces 0.73%
Apr 28,2016

Australian share market advanced for the first time in three sessions in row on Thursday, 28 April 2016, on speculation of interest rates cut by the Reserve Bank of Australia (RBA) next week following Wednesdays surprisingly low reading on inflation. Meanwhile, buying sentiments also buoyed by stirring speculation of more merger and acquisition activity after a billion-dollar takeover bid for clothing company Pacific Brands. Most industry sectors were up, with materials and resources, energy, and retailers, and consumer goods stocks being major gainers. At close of trade, the benchmark S&P/ASX 200 added 37.70 points, or 0.73%, to 5225.40. The broader All Ordinaries added 38.50 points, or 0.73%, to 5289.40. Rising stocks outnumbered declining ones on the Australia Stock Exchange by 612 to 403 and 308 ended unchanged.

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Asia Pacific Market: Stocks down ahead of key central banks decision
Apr 27,2016

Asia Pacific share market was down on Wednesday, 27 April 2016, amid increased nervousness over the policy outcome from the U.S. Federal Reserve, the Bank of Japan (BOJ) and the Reserve Bank of New Zealand this week.

Fed fund futures are pricing 0% chance of a rate hike by Fed this week and this is the general consensus of the markets. Nonetheless, recent comments from Fed officials argue that Fed is still on track for two rate hike this year. And that happen in June and December. Thus, a major focus this week will be any chance in the language in FOMC statement that hints on a June hike. Currently markets are pricing in only 23% chances of rate hike in June. But the pricing for at least one hike by September is 49% and 71% by December. Thats quite significantly higher than prior months pricing around 40% by September and 55% by December.

The Bank of Japans (BOJ) two-day monetary policy meeting began today, 27 April 2016. Speculation is rife that the Japanese central bank will announce further easing of monetary policy. The BOJ in January decided to begin charging 0.1% interest on some bank reserves parked with the institution, in a bid to kick-start the economy and pull it out of two decades of deflation.

Crude oil prices hit 2016 highs after the World Bank on Tuesday raised its forecast for crude oil prices by about 11%, citing expectations for a reduction in the global supply glut. The crude oil rally was also underpinned by a weaker dollar, which fell on expectations that the U.S. Federal Reserves Federal Open Market Committee (FOMC) will keep interest rates at existing levels.

The multi-lateral institution, which provides loans to developing countries, expects crude oil prices to average US$41 a barrel this year, compared with a previous forecast for US$37. The estimate for this year still marks a decline of 19% from last year. Oversupply in the global crude oil market is expected to recede, according to the quarterly Commodity Markets Outlook report.

On Tuesday, Brent and U.S. crudes West Texas Intermediate (WTI) futures finished regular trading about 3% higher. In post-settlement trade, both benchmarks rose more than 4%. Brent crude futures finished up $1.26 at $45.74 a barrel. In post-settlement trade, it rose as much as $2.01 to a 2016 high of $46.49. U.S. crude futures settled up $1.40 at $44.04. It gained $2.19 in after-hours trade to reach a year-to-date peak of $44.83.

Among Asian bourses

Nikkei falls for third day

The Japan share market declined for third straight session, dragged down by yen appreciation against greenback and on caution ahead of policy decisions from the Federal Reserve and Bank of Japan. 21 out of 33 TSE industry sectors were down, with Land Transportation, Electric Appliances, Iron & Steel, Pharmaceutical, Air Transportation, and Real Estate stocks being major losers. The 225-issue Nikkei average declined 62.79 points, or 0.36%, to close at 17290.49. The Topix index of all first-section issues ended down 7.39 points, or 0.53%, at 1384.30.

Murata Manufacturing, Alps Electric and Nitto Denko, all Apple-related issues, met with selling after the U.S. company reported Tuesday the first decline in quarterly revenue in 13 years.

Canon tumbled 5.3% a day after the camera maker revised down its earnings estimates for the year through December, reflecting sluggish sales of laser printers and the higher yen.

On the other hand, IHI surged 4.33% on a news report that the heavy machinery maker plans to establish a new plant for the aircraft business for the first time in 20 years. Kawasaki Heavy recouped earlier losses and closed higher after announcing stronger-than-expected earnings for the fiscal year through March.

Australia Market falls 0.63%

Australian share market ended down after erasing early gains, due to surprisingly weak inflation data. The Consumer Price Index (CPI) fell 0.2% in the March quarter 2016, according to latest figures from the Australian Bureau of Statistics (ABS). This followed a rise of 0.4% in the December quarter 2015. Most industry sectors were down, with banks and financial and property trusts stocks being major losers. At close of trade, the benchmark S&P/ASX 200 declined 32.90 points, or 0.63%, to 5187.70. The broader All Ordinaries dropped 32.70 points, or 0.62%, to 5250.90.

The banks were hammered on concerns about a blowout in bad debts and views the banks margins may come under pressure if they have to pass on any rate cut in full to blunt a political backlash. ANZ Banking Group declined 1.5% to A$23.88, National Australia Bank 2.2% to A$26.90, Westpac Banking Corp 2% to A$30.94, and Commonwealth Bank 2.5% to A$73.76.

Shares of materials and resources were also lower, with BHP Billiton down 0.6% to A$19.65, Rio Tinto down 2.1% to A$48.42 and Fortescue Metals down 2.9% to A$3.06.

China Market closes down

Mainland China stock market finished lower, on concerns about a government crackdown on speculation in commodities markets, with shares of consumer-discretionary and material companies led declines. The benchmark Shanghai Composite Index added 18 points, or 0.6%, to 2964.70. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, de-grew 13.24 points, or 0.42%, to 3165.92.

Consumer-discretionary and energy shares suffered the steepest losses among 10 industry groups. Hisense Electric Co. plunged 5.4%, while Shanxi Luan Environmental Energy Development Co. led declines for coal producers with a 5.2% drop.

Material shares extended losses after commodity exchanges intensified efforts to curb speculation in futures contracts. The nations commodity exchanges stepped up efforts to curb speculation in trading in everything from steel to iron ore and coking coal after prices soared amid a credit-fueled binge. The Dalian Commodity Exchange will raise trading charges of coking coal and coke to 0.036% from 0.018% from April 27, according to a statement on the exchanges website. Jiangxi Copper Co. slid 1.3% after the Dalian exchange also said it will raise trading charges of iron ore contracts. Iron ore futures plunged 4.1%, extending their decline in the past four days to 8.9%. Steel reinforcement bar lost 3.2% and coking coal slid 4.6% as prices responded to the exchange moves.

Hong Kong Stocks drop 0.2%

The Hong Kong stock market declined for second straight session on Tuesday, 26 April 2016, amid increased nervousness in the markets over the policy outcome from the U.S. Federal Reserve, the Bank of Japan (BOJ) and the Reserve Bank of New Zealand this week. The benchmark Hang Seng Index dropped 45.67 points, or 0.21%, to 21361.60 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, grew 21.36 points, or 0.24%, to 9037.48 points. Turnover reduced to HK$54.9 billion from HK$62.8 billion on Tuesday.

StanChart (02888) soared 6% to HK$62.7. The lender announced its 1Q results, with pre-tax earnings falling 59% year-on-year, but it turned to black quarter-on-quarter. HSBC (00005) put on 0.8% to HK$52.65.

BOCHK (02388) slid 3% to HK$23.8 as its 1Q operating profit decreased 8% to HK$6.64 billion. BOC (03988) was unchanged at HK$3.2. It reported 1Q earnings grew 2% to RMB46.6 billion.

Nifty attains 25-week closing high

A divergent trend for various index constituents resulted in small gains for the two key benchmark indices. The barometer index, the S&P BSE Sensex, rose 56.82 points or 0.22% to settle at 26,064.12. The Nifty 50 index rose 17.25 points or 0.22% to settle at 7,979.90. The two key benchmark indices edged higher for the second day in a row.

Telecom major Bharti Airtel gained ahead of its Q4 results. IT stocks rose after global credit rating agency Moodys Investors Service said in a sector report that it expects the Indian IT services sector to maintain global market share gains despite headwinds. HCL Technologies dropped 1.58% ahead of its quarterly results. Shares of oil exploration and production companies rose as global crude oil prices surged.

Axis Bank edged lower after the banks management said in a conference call that it expects bad loans to rise and credit costs to be sharply higher in the current financial year. Yes Bank edge higher in volatile trade after the private sector bank reported strong Q4 results.

Elsewhere in the Asia Pacific region: New Zealands NZX50 was down 0.7% to 6750.40. South Koreas KOSPI index shed 0.2% to 2015.40. Taiwans Taiex index sank 0.2% to 8563.05. Malaysias KLCI shed 0.01% to 1692.34. Indonesias Jakarta Composite index rose 0.7% to 4845.66. Singapores Straits Times index eased 0.7% to 2874.72.

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Hong Kong Stocks down ahead of key central banks decision
Apr 27,2016

The Hong Kong stock market declined for second straight session on Tuesday, 26 April 2016, amid increased nervousness in the markets over the policy outcome from the U.S. Federal Reserve, the Bank of Japan (BOJ) and the Reserve Bank of New Zealand this week. The benchmark Hang Seng Index dropped 45.67 points, or 0.21%, to 21361.60 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, grew 21.36 points, or 0.24%, to 9037.48 points. Turnover reduced to HK$54.9 billion from HK$62.8 billion on Tuesday.

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China Market closes down
Apr 27,2016

Mainland China stock market finished lower on Wednesday, 27 April 2016, with shares of consumer-discretionary and material companies led declines. The benchmark Shanghai Composite Index added 18 points, or 0.6%, to 2964.70. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, de-grew 13.24 points, or 0.42%, to 3165.92.

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Nikkei falls for third day
Apr 27,2016

The Japan share market declined for third straight session on Wednesday, 27 April 2016, dragged down by yen appreciation against greenback and on caution ahead of policy decisions from the Federal Reserve and Bank of Japan. 21 out of 33 TSE industry sectors were down, with Land Transportation, Electric Appliances, Iron & Steel, Pharmaceutical, Air Transportation, and Real Estate stocks being major losers. The 225-issue Nikkei average declined 62.79 points, or 0.36%, to close at 17290.49. The Topix index of all first-section issues ended down 7.39 points, or 0.53%, at 1384.30.

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Australia Market falls 0.63%
Apr 27,2016

Australian share market ended down after erasing early gains on Wednesday, 27 April 2016, due to surprisingly weak inflation data. The Consumer Price Index (CPI) fell 0.2 per cent in the March quarter 2016, according to latest figures from the Australian Bureau of Statistics (ABS). This followed a rise of 0.4 per cent in the December quarter 2015. Most industry sectors were down, with banks and financial and property trusts stocks being major losers. At close of trade, the benchmark S&P/ASX 200 declined 32.90 points, or 0.63%, to 5187.70. The broader All Ordinaries dropped 32.70 points, or 0.62%, to 5250.90.

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Hong Kong Stocks down ahead of Fed decisions
Apr 26,2016

The Hong Kong stock market declined for second straight session on Tuesday, 26 April 2016, amid increased nervousness in the markets over the outcome of the key central banks events due in the second half of this week, with the FOMC monetary policy decisions in the spotlight. The benchmark index opened up 75 points at 21,380, and reversed its uptrend in 30 minutes. In late afternoon, some blue chips saw buying orders. The Hang Seng Index ended up 102 points or 0.5% to 21,407. The H-share index rose 29 points or 0.3% to 9,016. Turnover increased to HK$62.8 billion from HK$55.9 billion on Monday.

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China Market closes up
Apr 26,2016

Mainland China stock market finished up after reversing losses late afternoon on Tuesday, 26 April 2016. But market gain was limited, as commodity exchanges moved to cool trading in raw materials and the Institute of International Finance (IIF) estimation that global investors are expected to pull $538 billion out of Chinas slowing economy in 2016. The benchmark Shanghai Composite Index added 18 points, or 0.6%, to 2964.70. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, grew 17.13 points, or 0.54%, to 3150.40.

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Australia Market falls 0.3%
Apr 26,2016

Australian share market gave away early gains and fell into the negative territory on Tuesday, 26 April 2016, following weak lead from US equities overnight and soft Asian bourses today. Meanwhile, slide in commodity prices also weighed on investors risk appetite. Most industry sectors were down, with materials, industrial, and energy stocks being major losers. At close of trade, the benchmark S&P/ASX 200 declined 15.80 points, or 0.3%, to 5220.60. The broader All Ordinaries dropped 15.60 points, or 0.69%, to 5283.60.

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Asia Pacific Market: Stocks in red on profit-taking, central banks action in focus
Apr 25,2016

Asia Pacific share market declined on first trading session of the week, Monday, 25 April 2016, as investors locked in recent gains on caution ahead of FOMC, RBNZ and BOJ monetary policy decision due later this week. Moreover, lower oil prices also weighed down on the regions indices.

The underlying cautious tone in the markets can be attributed to the nervousness ahead of the central banks events along with a fresh batch of economic data lined up for release this week. The Federal Reserve, the Reserve Bank of New Zealand and the Bank of Japan are all in play this week. While most of the focus will center on possible policy action from the BOJ, traders will be looking for forward guidance from both the Fed and RBNZ. China is scheduled to release data on March industrial profits on Wednesday, while Japanese data on inflation, retail sales and unemployment are due Thursday.

Crude Oil benchmarks on both sides of Atlantic failed at higher levels and retreated over 1% from five-month tops in Asia on Monday, after a rebound in the US dollar late Friday continues to weigh on the black gold. Currently, both crude benchmarks are seen extending to the downside, with WTI sliding 1.42% to $43.11 while Brent oil drops -1.09% to $44.58. Oil prices dropped in the Asian trades after having booked three straight weeks of gains, as traders appear to lock-in gains heading into global central banks action dominated week.

Among Asian bourses

Nikkei falls on profit booking

The Japan share market ended lower, as investors locked in gains following steady rises in the past four trading sessions. But, market losses were limited due to weaker yen and after PM Shinzo Abe announced over the weekend that his government plans an extra budget to fund reconstruction from recent earthquakes. The 225-issue Nikkei average declined 133.19 points, or 0.76%, to close at 17439.30. The Topix index of all first-section issues ended down 5.67 points, or 0.4%, at 1412.80.

Major exporters in Japan were mixed, with shares of Toyota Motor Corp up 1.2% and Honda Motor Corp up 0.9% while Sony Corp declined 6% after the Japanese electronics maker delayed announcing earnings forecasts for the 2016 fiscal year to assess damages from the earthquakes that hit southern Japan two weeks ago. Usually a weaker yen is a positive for exporters as it increases their overseas profits when converted to local currency. Shares of Mitsubishi Motors were down 4.8%, extending last week 41% loss amid news that it had falsified fuel economy test data to make emissions levels look more favourable.

Energy plays were mostly lower, with shares of Inpex down 4.8% and Japan Petroleum down 0.6%, on following weak crude oil prices. Oil prices retreated during Asian hours, with U.S. crude futures down 1.3% at $43.16, while global benchmark Brent fell 1.02% to $44.65 a barrel.

Japans Prime Minister Shinzo Abe ordered his government on Sunday to compile an extra budget package to fund reconstruction from recent earthquakes that hit the south of the country, with an aim to put it into effect by June 1. The move comes as Abe faces increasing pressure to inject more economic stimulus to reignite growth in a stagnant economy ahead of a Group of Seven (G7) summit his government will host in late May in Ise-Shima in central Japan.

China Market closes down

Mainland China stock market finished down, after commodity exchanges moved to cool trading in raw materials and worries that improving economic data will prevent further stimulus and corporate defaults will rise. The benchmark Shanghai Composite Index slipped 12.57 points, or 0.42%, to 2946.67. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, fell 12.87 points, or 0.41%, to 3162.03.

The Zhengzhou Commodity Exchange will raise the minimum margin rates for cotton futures contracts to 7% from 5% of contract value from settlement on April 26, according to a statement on the exchanges website. The margin requirement of thermal coal and rapeseed meal contracts will both be increased to 6% from 5%. Earlier last week, exchanges in Shanghai and Dalian raised margin requirements for steel reinforcement-bar and iron ore contracts in a bid to cool the recent frenzy on futures trading thats led by steel rebar.

Shares of material companies dropped after Commodity exchanges in Zhengzhou and Dalian announced late Friday that they will raise margin requirements on futures contracts of cotton and thermal coal, following similar moves on steel reinforcement-bar and iron ore contracts earlier in the week. Aluminum Corp. of China slumped 1.4%, while China Minmetals Rare Earth Co. dropped 3.8%.

Hang Seng falls 0.76%

The Hong Kong stock market ended lower, tracking regional markets, on caution ahead of US FOMC meeting this week. The benchmark Hang Seng Index dropped 162.60 points, or 0.76%, to 21304.44 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, decreased 134.58 points, or 1.48%, to 8986.33 points. Turnover reduced to HK$55.9 billion from HK$64.5 billion on Friday.

HKEx (00388) slipped 2% to HK$199.7 on speculation that Shanghai-London Connect program will be announced in September. Brokerage houses were lower on talks HK equity markets status and importance will be reduced after Shanghai-London Connect program. Broker CITIC Sec (06030) also slipped 2.3% to HK$17.72.

Property developers were mixed ahead of FOMC meetings. The FOMC will start two-day meetings from Tuesday. Wharf (00004) gained 1.5% to HK$43.35 after JP Morgan rated the stock overweight. Wheelock (00020) has earlier bought 1.05 million shares of Wharf at an average price of HK$41.969 apiece. CK Property (01113) edged down 0.2% to HK$52.1. Henderson Land (00012) inched up 0.6% to HK$49.85.

Real Nutri (02010) surged 43% to HK$1.03, after the company said it has entered into a settlement agreement with Glaucus Research, which will not directly or indirectly issue any further public reports concerning Real Nutri.

Zoomlion Heavy Industry Science and Technology (01157) shares declined 3.9% to HK$2.71 after its net loss for the first quarter of 2016 widened to Rmb660 million from Rmb383 million for the same period last year. Operating income was Rmb3,024 million, a decrease of 20.07% from a year earlier.

China Power (02380) declined 4% to HK$3.55. The utility firm said the combined total power generation of the group amounted to 15.91 million MWh for the three months ended 31 March 2016, representing an increase of 16.13% over the same period last year while its combined total electricity sold amounted to 15.31 million MWh, representing an increase of 16.61% over the same period last year.

Weak global cues take toll on Sensex

Auto stocks, public sector banks and index heavyweights Reliance Industries, HDFC and ITC led losses for key benchmark indices. The barometer index, the S&P BSE Sensex, fell 117.08 points or 0.45% to 25,721.06, as per the provisional closing data. The Nifty fell 44.25 points or 0.56% at 7,855.05, as per the provisional closing data. The decline on the domestic bourses materialized as Asian and European stocks dropped on caution ahead of the outcome of central bank meetings in the United States and Japan this week. Reliance Industries (RIL) edged lower after announcing Q4 March 2016 results after trading hours on Friday, 22 April 2016

Reliance Industries (RIL) edged lower after announcing Q4 March 2016 results after trading hours on Friday, 22 April 2016. The stock fell 2.47% at Rs 1,013.05. RILs consolidated net profit rose 15.93% to Rs 7398 crore on 10.95% fall in total income to Rs 62010 crore in Q4 March 2016 over Q4 March 2015. Strong operating performance from refining and petrochemicals businesses coupled with favorable exchange rate movement was partially offset by lower contribution from Oil & Gas business. The decline in revenue was led by the 41.4% decline in benchmark oil price which averaged at $30.4 per barrel in Q4 March 2016 as compared to $51.9 per barrel in Q4 March 2015. Based on standalone performance, the gross refining margin (GRM) increased to $10.80 per barrel in Q4 March 2016 from $10.10 per barrel in Q4 March 2015.

Cairn India fell 4.62% at Rs 144.40 after the company reported a massive net loss for Q4 March 2016 due to an impairment charge. On consolidated basis, Cairn India reported net loss of Rs 10948.22 crore in Q4 March 2016, higher than net loss of Rs 240.82 crore in Q4 March 2015. Net total income from operations declined 35.87% to Rs 1716.83 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours on Friday, 22 April 2016. Due to decline in crude oil prices in the international market, the company recorded an impairment on the carrying value of goodwill and some of its non-producing oil and gas assets aggregating to Rs 11389.63 crore and Rs 284.17 crore respectively in Q4 March 2016.

Elsewhere in the Asia Pacific region: South Koreas KOSPI index fell 0.05% to 2014.55. Taiwans Taiex index rose 0.3% to 8560.28. Malaysias KLCI shed 0.2% to 1714.51. Indonesias Jakarta Composite index slid 0.9% to 4869.56. Singapores Straits Times index fell 1.4% to 900.28. Australia and New Zealand markets shut for ANZAC day public holiday.

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Nikkei falls on profit booking
Apr 25,2016

The Japan share market ended lower on Monday, 25 April 2016, as investors locked in gains following steady rises in the past four trading sessions. But, market losses were limited due to weaker yen and after PM Shinzo Abe announced over the weekend that his government plans an extra budget to fund reconstruction from recent earthquakes. The 225-issue Nikkei average declined 133.19 points, or 0.76%, to close at 17439.30. The Topix index of all first-section issues ended down 5.67 points, or 0.4%, at 1412.80.

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Hang Seng falls 0.76%
Apr 25,2016

The Hong Kong stock market ended lower on Monday, 25 April 2016, tracking regional markets, on caution ahead of US FOMC meeting this week. The benchmark Hang Seng Index dropped 162.60 points, or 0.76%, to 21304.44 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, decreased 134.58 points, or 1.48%, to 8986.33 points. Turnover reduced to HK$55.9 billion from HK$64.5 billion on Friday.

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Australia and New Zealand markets shut for ANZAC day public holiday
Apr 25,2016

Markets in Australia and New Zealand are closed for ANZAC day public holiday.

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Hang Seng falls 0.72%
Apr 22,2016

The Hong Kong stock market ended lower on Friday, 22 April 2016, tracking regional markets, after Wall Street suffered its first loss in four sessions overnight, with shares of steelmakers, gold miners and copper producers being major loser after Chinese regulators moved to cool commodities trading amid signs of overheating. The benchmark Hang Seng Index dropped 155.21 points, or 0.72%, to 21467.04 points. The Hang Seng China Enterprises Index, benchmark measure of performance of mainland China enterprises, decreased 127.49 points, or 1.38%, to 9120.91 points. Turnover reduced to HK$64.5 billion from HK$73 billion on Thursday.

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