Friday, 31 March 2017

Oil Hits 3 Week Highs As OPEC Deal Extension Seen Likely

Oil prices jumped for a third day on Thursday to their highest in three weeks after Kuwait backed an extension of OPEC production cuts to reduce a global glut.

Kuwait oil minister Essam al-Marzouq said his country was among several nations supporting the extension of a deal between the Organisation of the Petroleum Exporting Countries and other exporters to limit output, state news agency KUNA reported.

Brent crude oil settled up 54 cents, or about 1 percent, to $52.96 a barrel after hitting $53.10. U.S. crude settled up 84 cents, or 1.7 percent, higher at $50.35 a barrel, after touching $50.47.

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Wall Street Rises, Aided By U.S. Growth Data; Nasdaq Ends At Record

Wall Street gained on Thursday, led by financial shares, after data showed US economic growth was stronger than previously reported last quarter, helped by robust consumer spending, and the tech-heavy Nasdaq set a record closing high.

The energy sector rose for a third straight day, supported by stronger oil prices and a 8.8-percent gain for ConocoPhillips , the biggest percentage riser on the S&P 500 after it agreed to sell oil and gas assets.

The S&P 500 gained for a third straight day, rebounding after its worst week of the year last week.U.S. economic growth slowed less than previously reported in the fourth quarter as robust consumer spending provided a boost, the Commerce Department said.

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Nifty Opens April Series Lower; HDFC Twins, Bharti Infratel, ICICI Drag

The NSE Nifty started off April series on a lower note amid consolidation and mixed Asian cues Friday, weighed by banking & financials stocks.

The 30-share BSE Sensex was down 67 points at 29,580.42 and the 50-share NSE Nifty fell 17.15 points to 9,156.60. About 584 shares advanced against 258 declining shares on the BSE.

The Indian rupee has opened on a flat note at 64.92 against the US dollar.

Ashutosh Raina of HDFC Bank says the continued year-end portfolio flows getting absorbed by the intervention bids, continue in the USD-INR pair, with the pair trading close to crucial 64.80-64.85 per dollar technical level.

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Thursday, 30 March 2017

Nifty Sluggish As F&O Expiry Eyed; Kotak Bank, Aurobindo Up

The Nifty remained sluggish in afternoon ahead of expiry of March futures & options contracts. Investors awaited March quarter earnings due next month that will give direction to the market.

The 30-share BSE Sensex was up 38.27 points at 29,569.70 and the 50-share NSE Nifty gained 7.65 points at 9,151.45. The broader markets continued to outperform benchmarks, with the Nifty Midcap rising 0.3 percent.

Kotak Mahindra Bank gained over a percent on fundraising plan by diluting Uday Kotak's stake while Aurobindo Pharma was up 1 percent as it has received final approval from the US health regulator to manufacture abacavir sulfate and lamivudine tablets, used in the treatment of HIV.

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Shares Of Navneet Education Was Up More Than 12 Percent Intraday

Equity has driven this trend, seeing 60 percent of the total inflows, he adds.

Simon says, however, debt has also seen strong inflows, amounting to USD 10.8 billion.

In terms of countries, Taiwan, Korea and India have been the primary drivers of equity inflows while Mexico and India have driven most of the debt inflows, he adds.

Shares of Navneet Education was up more than 12 percent intraday as investors cheered the positive brokerage view on the stock.

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Equity Benchmarks Started Off Trade On A Flat Note Thursday

The 30-share BSE Sensex was up 39.50 points at 29,570.93 and the 50-share NSE Nifty gained 3.65 points at 9,147.45. About 824 shares advanced against 244 declining shares on the BSE.

SBI, Reliance Industries, Hero Motocorp, Adani Ports, BHEL, Bank of Baroda and IndusInd Bank were early gainers while Axis Bank, Tata Motors, Bharti Airtel, M&M, TCS, HCL Tech and Bharti Infratel were losers.

The Indian rupee extended gains today, opening at 64.87 against the US dollar, up 3 paise over 64.90 level in previous session.

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Wednesday, 29 March 2017

Buy, Sell, Hold: These 3 Stocks Are On Analysts' Radar

Bharat Financial

Credit Suisse has maintained a neutral target on the stock with an unchanged target of Rs 720. The research firm cites management’s confidence of 50 percent growth in assets under management for FY18. It believes that loan growth may be driven by 30-35 percent increase in number of borrowers.

Moreover, the appetite for the market to absorb MFI loans is high. But, Credit Suisse believes competitors converting into small banks may reduce the focus on microfinance institutions.

Bharti Airtel
UBS has a buy call on the stock with a target of Rs 400. The research firm sees company reducing its net debt / EBITDA by 0.2 times through the Bharti Infratel deal. Moreover, it sees Airtel to be a major beneficiary from the consolidation in the sector, which is peaking.

Zee Entertainment

Credit Suisse has maintained an outperform rating on the stock with an unchanged target of Rs 625. It cites the management’s take that demonetisation will not have an impact in FY18 and sees 12-13 percent growth in advertising industry spend. The research firm believes phase three digitization should increase sub revenue over 12 months.
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Asia Stocks Gains With Dollar, Sterling Hit By Brexit Woes

Asian shares inched ahead on Wednesday while the dollar and commodities rallied as investors shook off disappointment about US President Donald Trump's failed healthcare bill and focussed on an improving outlook for global growth.

The cheerful mood did not extend to the pound which was on the skids as the British government sent a letter to Brussels formally starting the country's exit from the European Union.

MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.2 percent and back toward recent 21-month peaks. Australia's main index climbed 0.6 percent to its highest since mid-2015.

Japan's Nikkei added 0.1 percent, having climbed over 1 percent the previous day.


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Market Live: Nifty Opens Above 9100, Sensex Higher; Rupee Gains Past 65/$

The 30-share BSE Sensex was up 71.07 points at 29,480.59 and the 50-share NSE Nifty rose 22.80 points to 9,123.60. About 751 shares advanced against 204 declining shares on the BSE.

Bharti Infratel, Tata Power, Axis Bank, Bharti Airtel, Tata Steel, L&T and SBI were early gainers while Wipro, Adani Ports, Reliance Industries, GAIL, Tata Motors and BPCL were losers.

The Indian rupee gained past USD 65 against the US dollar for the first time since October 28, 2015. It closed at 65.04 to the dollar in previous session.


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Tuesday, 28 March 2017

Sensex Opens Over 100 Points Higher, Nifty Eyes 9100; Banks Soar

The 30-share Sensex was up 109.42 points at 29346.57, while the Nifty was up 43.15 points at 9088.35. The market breadth was healthy as 746 shares advanced against a decline of 189 shares, while 39 shares were unchanged.

Banking stocks such as Axis Bank, ICICI Bank were among the top gainers on both the indices, while GAIL and ONGC were a drag.

IndusInd Bank, HDFC, DCB Bank and Cimmco touched their 52-week highs. Dishman Pharma surged 20 percent and was locked in upper circuit on the back of a product approval by the US drug regulator.

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Asia Markets Shrug Off Trump Concern To Climb Higher

Asia markets gained on Tuesday morning as investors shrugged off the disappointment from the current US administration's ability to push through legislation to repeal and replace the Obama-era health-care law.

Japan's Nikkei 225 rose 0.82 percent, recovering most of its losses of 276 points, or 1.44 percent, seen yesterday.

Fujitsu and Lenovo Group announced the postponement of their target date for a final deal on their personal computer business tie-up to sometime in the first-half of 2017, the Nikkei business daily reported. Shares of Fujitsu were up 2.32 percent and the Hong Kong-listed Lenovo was up 0.61 percent.

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Wall Street Off As Trump Agenda Weighed; Dow Down For 8th Day

The S&P 500 cut earlier losses on Monday to end slightly lower, while the Dow declined for an eighth straight session, as investors assessed how the defeat of President Donald Trump's first major legislative action would impact the rest of his agenda.

With stocks soaring to record highs after Trump's election, investors are concerned about the fate of his economic plan, including tax reform and infrastructure spending. Congressional Republicans pulled their healthcare overhaul bill on Friday after failing to gather enough votes.

But some analysts and investors are hopeful the healthcare bill's failure will pave the way for quicker action on legislation deemed desirable by investors, namely tax reform.

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Monday, 27 March 2017

Oil Dips As Rising US Drilling Offsets Talk Of An OPEC Led Cut Extension

Oil prices dipped on Monday as rising U.S. drilling activity outweighed talks that an OPEC-led production cut initially due to end in mid-2017 may be extended.
Prices for front-month Brent crude futures, the international benchmark for oil, eased 7 cents from their last close to $50.73 per barrel by 0145 GMT.
In the United States, West Texas Intermediate crude futures were down 14 cents at $47.83 a barrel.
Traders said that prices received some support from talks over the weekend between the Organization of the Petroleum Exporting Countries and other producers, including Russia, aimed at extending a production cut beyond the middle of the year in order to prop up the market.

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Indian Rupee Opens At 65.28 Per Dollar; Up 14 Paise

The Indian rupee gained in the early trade on Monday. It has opened higher by 14 paise at 65.28 per dollar versus 65.42 Friday.

Pramit Brahmbhatt of Veracity said, "Considering 10-year bond as well as equity market movement, we are of the view that rupee will trade sideways in a range of 65.20-65.50/dollar.

"The US dollar took a spill in early Asian trade as investors in the region fretted about the chances of US fiscal stimulus following the defeat of President Donald Trump's healthcare package.

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Nifty Extends Losses, Sensex Falls Over 100 Pts; Reliance, ITC Weigh

Benchmark indices extended losses in morning, with the Sensex falling over 100 points, weighed by index heavyweights Reliance Industries, ITC and HDFC Bank.

The 30-share BSE Sensex was down 133.47 points at 29,287.93 and the 50-share NSE Nifty fell 45.85 points to 9,062.15.

The market breadth was balanced as about 1025 shares advanced against 1004 declining shares on the BSE.
Reliance Industries, ITC, Tata Steel, Lupin, Sun Pharma, Asian Paints and Tata Motors were down 1-2 percent followed by HDFC Bank whereas SBI and HUL were gainers.
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Friday, 24 March 2017

Wall Street Falls As Doubts Mount About Trump Healthcare Bill

Wall Street fell on Thursday as investors worried about a delay in a vote on a healthcare bill that is seen as President Donald Trump's first policy test.

The US House of Representatives cancelled Thursday's vote on the healthcare plan, according to a senior House Republican aide.

Failure to pass the American Health Care Act would cast doubt on Trump's ability to deliver other parts of his agenda that need the cooperation of the Republican-controlled Congress, including ambitious plans to overhaul the tax code and invest in infrastructure.

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Nifty Reclaims 9100, Sensex Higher In Opening: Bharti, Yes Bank Gain

Equity benchmarks started off last day of the week on mildly positive note, with the Nifty reclaiming 9100 level, backed by banking & financials and FMCG stocks.

The 30-share BSE Sensex was up 40.77 points at 29,372.93 and the 50-share NSE Nifty rose 10.20 points to 9,096.50. About 560 shares advanced against 192 declining shares on the BSE.

Bharti Airtel rallied 2 percent in early trade as the company will acquire Tikona Digital Networks’ 4G business for Rs 1,600 crore. Yes Bank was up over a percent after its QIP subscribed over 2.5 times.

The Indian rupee gained marginally in the early trade. It has opened at 65.48 per dollar versus previous close 65.52.

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Thursday, 23 March 2017

Rupee Unlikely To Breach 70/$ In 2017; Bet On GST Related Sectors

The rupee is reasonably well placed on inflation differential, current account deficit and FDI flow, Lalit Nambiar, EVP & Fund Manager, Head – Research, UTI Mutual Fund, said.

In an exclusive interview with Kshitij Anand of Moneycontrol.com, he thinks investors are likely to benefit more from stocks related to GST theme.

The Indian rupee opened marginally higher at 65.40 per dollar against previous close of 65.44.

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Stocks In The News: Axis, IOB, Rel Defence, InterGlobe, Sadbhav Infra, Idea, PVR

Divis Labs -Visakhapatnam import alert by US FDA issued under 2 clauses

-Clauses are 66-40 & 99-32 of FDA regulations

-Have already initiated measures to address concerns raised by US FDA

-Making all efforts to fully meet compliance requirementsHindustan Zinc says

-Record date for special interim dividend is March 30

-Total FY17 dividend payout at Rs 27,157 croreShah Alloys

-Bank of Baroda, OBC & Axis Bank transfer all rights in company to Edelweiss ARC

-Entered pact with Edelweiss ARC to settle all bank dues for Rs 50 crore

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Sensex Rebounds, Nifty Above 9050 Amid Sideways Trade

Equity benchmarks opened sharply higher on Thursday after sell-off in previous session but immediately came off day's high amid sideways trade in global peers.

The 30-share BSE Sensex was up 76.94 points at 29,244.62 and the 50-share NSE Nifty gained 22.85 points at 9,053.30 while the broader markets outperformed, rising half a percent.

L&T, Tata Motors, Infosys, Axis Bank and ICICI Bank were top five contributors to Sensex' gains while heavyweights ITC and HDFC Bank were moderately lower.

The Indian rupee opened marginally higher at 65.40 per dollar against previous close of 65.44.

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Wednesday, 22 March 2017

Nifty Slips Below 9050, Midcap Sinks Too; ICICI Drags, Axis Outperforms

The 30-share BSE Sensex was down 221.38 points at 29,264.07 and the 50-share NSE Nifty fell 74.10 points to 9047.40 while the BSE Midcap declined nearly 0.9 percent on weak market breadth.

About two shares declined for every share rising on the BSE.

ICICI Bank, HDFC, Reliance Industries, HDFC Bank and Tata Motors were top five contributors to Sensex's fall while Axis Bank bucked the trend, up 1 percent.

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Asian Stocks Pull Back On Fresh Doubts About Trump Policies

Asian stocks fell on Wednesday as a sharp pullback in Wall Street on doubts about Donald Trump's economic agenda prompted investors to rush to safe haven assets such as gold and government bonds.

Both the S&P 500 and the Dow Jones Industrial Average lost more than one percent on Tuesday in frantic trading, their biggest one day slide since before Donald Trump's election victory in November.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.5 percent in early trades after it hit its highest level since June 2015 in the previous session.

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Equity Benchmarks Extended Losses For Third Consecutive Session

Equity benchmarks extended losses for third consecutive session Wednesday, tracking global weakness on North Korea missile test and concerns over Donald Trump's tax promises.

The 30-share BSE Sensex was down 192.06 points at 29,293.39 and the 50-share NSE Nifty fell 79.35 points to 9,042.15.

Bharti Airtel was biggest gainer in early trade, down 5 percent followed by M&M, ICICI Bank, Dr Reddy's Labs, BHEL, Idea Cellular and Hindalco.

Axis Bank, Cipla, Infosys, HUL, Power Grid Corporation and Bharti Infratel were losers.

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Tuesday, 21 March 2017

Wall Street Drifts Lower; Investors Worry About Tax Cut Delay

Wall Street drifted lower on Monday as investors worried that President Donald Trump's plan to cut taxes and boost the economy could take longer than previously expected.

The US stock market has been on a record-setting spree since the election of Trump as president, but the rally has faltered in recent weeks as investors fret about a lack of clarity on his proposals to reform taxes and cut regulation.

The S&P 500 and the Dow ended lower after FBI Director James Comey told a congressional hearing he had seen no evidence to support a claim by Trump that former President Barack Obama had wiretapped his campaign headquarters in Trump Tower in New York.

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Asian Shares Near 15-Month High, Dollar Soft On Less Hawkish Fed

Asian shares clung to their 15-month highs on Tuesday while the dollar and US bond yields were on the back foot on the prospects of a less-hawkish Federal Reserve policy trajectory.

In early trade, MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.1 percent, staying near a 15-month high it touched on Monday, with South Korean shares hitting two-year highs.

Japan's Nikkei dropped 0.8 percent, weighed by financial stocks, which were hurt by lower US yields and exporter stocks, which fell on the yen's gains against the dollar.

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Stocks In News: HCL Tech, Oil India, Aurobindo Pharma, SBI, Havells

Divi's Labs
-US FDA issues import alert for Visakhapatnam unit-II
Alert
-US FDA issued five observations to Divi's Vizag unit in December
-US FDA inspected Divi's Vizag unit from November 29-December 6

Unichem Labs

-US FDA inspected Goa unit from March 14-20, few observations made
-Observations made by US FDA are correctable, will file response soon

Aurobindo Pharma
-Gets USFDA nod for Guaifenesin & Dextromethorphan hydrobromide ER tablets
-Product will be launched from Q1FY18

SBI
-Board meet on March 24 to consider issue of unsecured debt up to USD 1.5 billion
-Board meet on March 24 to approve & allot shares to units

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Monday, 20 March 2017

The Indian Rupee Opened With A Marginal Gain Of 6 paise

The Indian rupee opened with a marginal gain of 6 paise at 65.40 per dollar today against Friday's close of 65.46.

Pramit Brahmbhatt of Veracity said, “The rupee will trade with a positive bias on the back of positive cues from the equity market and strong FII inflow. The trading range for the USD-INR pair is seen between 65.20-65.80/dollar.”

The dollar stayed on the defensive with bulls still nursing a grudge after the Federal Reserve's rate guidance last week proved to be less "hawkish" than many had wagered on.

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Market Live: Sensex, Nifty Lower On Profit Booking; Idea Up 15% On Vodafone Merger

Idea says Vodafone India merger is expected to be completed by 2018. Aditya Birla Group will have the right to buy 9.5 percent stake in the combined entity at Rs 130 per share.

Vodafone will sell shares in the combined company to equalise its shareholding with Aditya Birla Group.

Equity benchmarks opened lower on profit booking Monday after a 2.5 percent rally seen last week. Idea Cellular rallied nearly 15 percent in early trade following announcement of its merger with Vodafone India.

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Stocks In News: HCL Tech, Kotak Bank, OIL, EIL, Dena Bank, HSIL, Marico

-HCL Technologies, Engineers India, Oil India board meetings to consider a buyback proposal

-Piramal Enterprises completes acquisition of portfolio of pain management drugs from Mallinckrodt


-Kotak Mahindra Bank seeks shareholder nod to hike FII investment to maximum 49 percent

-Marico to acquire 45 percent equity stake in Zed Lifestyle

-Allahabad Bank to raise Rs 300 crore via Tier 1 perpetual bonds

-Havells India approves issue of commercial papers to Yes Bank worth Rs 150 crore

-IndusInd Bank proposes to raise perpetual Basel III compliant bonds worth Rs 1,000 crore

-Aditya Birla Fashion's Forever 21 opens first store in West Bengal at Siliguri

Saturday, 18 March 2017

The Stock Ended Up 3.8 Percent At USD 127.01.

Analysts increasingly worry that the Trump administration is spending too much of its political capital in an effort to pass a Republican-proposed healthcare bill, which may leave it wanting for support when it tries to reform the tax code.

Bets on the passing of a tax reform are one of the pillars of the equities rally since the November presidential election.

"This is a market waiting for its next catalyst and I think it wants to hear it from the White House," Krosby said. "That's very important for a market that embraced the pro growth agenda of the Trump administration.

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Wall Street Flat As Banks, Amgen Weigh; Adobe Rallies

US stocks dipped on Friday as bank shares fell alongside Treasury yields while Adobe helped buoy the S&P tech sector and the Nasdaq Composite.

Amgen was the largest drag on both the S&P 500 and Nasdaq, down 6.4 percent at USD 168.61, after the extent of a cholesterol drug's benefits in a highly anticipated study disappointed investors, even if it cut the risk of heart attacks and strokes by over 20 percent in patients with heart disease.

The S&P tech index was supported by Adobe's surge to a record high of USD 130.30 after the Photoshop software maker reported strong earnings. The stock ended up 3.8 percent at USD 127.01.

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Friday, 17 March 2017

Nifty At Record High, Opens Above 9200; Sensex Soars 200Pts; ITC Up 4%

Benchmark indices extended previous day's rally on Friday, with the Nifty hitting a record high of 9200 in opening following clearance to all five laws by GST Council.

The 30-share BSE Sensex was up 202.64 points or 0.68 percent at 29,788.49 and the 50-share NSE Nifty rose 45.05 points or 0.49 percent to 9,198.75.

ITC surged 4 percent after brokerages are upbeat on the stock. TCS, Asian Paints, Wipro, Lupin, M&M, Power Grid and Tata Steel were other early gainers while L&T, GAIL, Tech Mahindra, BPCL and HDFC were under pressure.

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Asia Stocks Set To End Week Higher, Dollar Slides After Fed

Asian stocks crawled higher in early trade on Friday, set for its best week since September, while the dollar continued the slide that began after the Federal Reserve indicated it was unlikely to speed up monetary tightening.

The dollar index, which tracks the greenback against a basket of six trade-weighted peers, retreated 0.1 percent to 100.26. It hit a five-week low on Thursday, and is down almost 1 percent for the week.

The dollar was steady at 113.32 yen but is on track to post a 1.2 percent loss for the week.

While the Fed raised interest rates by 25 basis points on Wednesday, it kept to its original forecast of three rate hikes this year, disappointing investors who were expecting four.

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Wall Street Slips With Healthcare Stocks, Nasdaq Flat

US stocks slipped on Thursday pressured by healthcare shares as traders cashed in gains from one of the best performing sectors so far this year.

Proposals in President Donald Trump's budget signalled higher regulatory costs for the sector and a cut in federal funding for medical research. Though still a ways away from becoming a reality, they gave traders a reason to sell.

The S&P 500 healthcare index dropped 0.9 percent.

Financials outperformed in a rebound after the sector was the worst performer on Wednesday and as the benchmark US Treasury note yield rose, while utilities weakened.

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Thursday, 16 March 2017

The Indian Rupee Gained Further Today And Opened At Over One Year High

The 30-share BSE Sensex was up 156.94 points at 29,555.05 and the 50-share NSE Nifty gained 53.90 points at 9,138.70. About 831 shares advanced against 172 declining shares on the BSE.

Adani Ports, HUL, BHEL, L&T, ONGC, Hindalco and HCL Technologies gained 1-3 percent whereas Hero Motocorp fell half a percent.

Federal Reserve on Wednesday raised interest rate by 25 basis points and set a range for interest rate at 0.75-1 percent but kept a dovish stance. It forecast 3 rate hikes each in 2017 and 2018.

The Indian rupee gained further today and opened at over one year high at 65.40 per dollar, gain of 29 paise versus previous close o f65.69.

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Market Live: Nifty Hits 9150, Sensex Gains 180 Pts

Benchmark indices retained early gains as the Nifty 50 surpassed 9150 level ahead of GST Council meet later today and after Federal Reserve hiked interest rate by 25 basis points.

The rally was backed by banking & financials, technology, auto, pharma and metals stocks.

The 30-share BSE Sensex gained 179.32 points at 29,577.43 and the 50-share NSE Nifty rose 58.65 points to 9143.45.

The broader markets outperformed benchmarks again, up 0.8 percent on strong breadth. About three shares advanced for every share falling on the BSE.
 
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Wednesday, 15 March 2017

Market Live: Sensex Remains Rangebound Ahead Of Fed Meet Outcome, Nifty Hits 9100

Equity benchmarks remained strong, but traded in a rangebound manner ahead of the US Federal Reserve’s policy meeting outcome. Investors are largely factoring in a rate hike in the US on the back of strong economic data. The Nifty touched 9100 in intraday trade on Wednesday.

The 30-share Sensex was up 39.66 points at 29482.29, while the Nifty was up 9.95 points at 9096.95. The market breadth was slightly narrow with 1,197 shares having advanced, 749 shares having declined, while 96 shares were unchanged.

IT stocks TCS and Infosys were the top losers on both the indices, while Adani Ports, Reliance, Idea Cellular and Bank of Baroda were the top gainers on both the indices.


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Asian Stocks Ease, Cautious Ahead Of Central Bank Announcements

Asian equities opened slightly lower, as investors stayed cautious awaiting the outcome of several central bank meetings later on Wednesday.

With the outcome of policy meetings at the US Federal Reserve, the Bank of England and the Bank of Japan coupled with a Dutch election vote all due within the next 36 hours, there is no shortage of event risks in financial markets.

The MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.1 percent after posting its second-biggest daily gain this year in the previous session.

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Rupee Opens Higher At 65.76 Per Dollar

The Indian rupee opened marginally higher at 65.76 per dollar on Wednesday versus 65.82 Tuesday.

Yesterday the rupee closed at 16-month high at 65.82, which was last seen in November, 2015.

Pramit Brahmbhatt of Veracity said, "The rupee has strong resistance at 65.80 levels and may trade sideways for the day. We expect the USD-INR pair to trade in a range of 65.80-66.30/dollar today."

The dollar was on tenterhooks in early trade as investors waited anxiously to see what clues the US Federal Reserve would soon reveal on its monetary policy outlook.

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Tuesday, 14 March 2017

Asia Markets Mixed; Toshiba Falls 6% As It Delays Earnings Filing

Asia traded sideways on Tuesday, following Wall Street's mixed close as the Federal Reserve's kicks off its two-day meeting.

In Japan, the Nikkei 225 dipped 0.15 percent.

Toshiba plunged 6.1 percent by 9:40 am HK/SIN after the company announced it would postpone earnings filings again due to the need for more time with auditors to review its US nuclear subsidiary probe, Reuters reported.

The Japanese conglomerate will hold a news conference later at 3pm HK/SIN.

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The Indian Rupee Gained In The Early Trade

The 30-share BSE Sensex was up 512.56 points or 1.77 percent at 29458.79 and the 50-share NSE Nifty gained 160.05 points or 1.79 percent at 9094.60. About 1119 shares advanced against 108 declining shares on the BSE.

ICICI Bank, HDFC, ITC, Reliance Industries, HDFC Bank and L&T were leading contributors to Sensex's gains, up 2-5 percent. However, Coal India lost 5 percent.

The Indian rupee gained in the early trade. It has opened higher by 40 paise at 66.20 per dollar versus Friday's close 66.60. The rupee is currently trading at one year high.
 
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Market Live: Nifty Hits Record High, Sensex Up 560 Pts After BJP's Landslide Win

Equity benchmarks erased some gains on profit booking after the Nifty and Bank Nifty hit record highs.

The 30-share BSE Sensex was up 468.28 points or 1.62 percent at 29,414.51 and the 50-share NSE Nifty gained 141.50 points or 1.58 percent at 9,076.05.

The market breadth remained strong as about five shares advanced for every share falling on the BSE.

Gujarat Fluorochemicals added 4.4 percent intraday on buzz of the company undergoing a rejig to enhance shareholder value.

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Saturday, 11 March 2017

Assembly Elections 2017 Results LIVE: Early Holi For BJP In UP

Assembly Elections 2017 Results LIVE: Early Holi for BJP in UP

STATUS CHECK (LEADS ONLY): 
 
Uttar Pradesh: BJP past halfway mark 

Punjab: Congress leads 

Uttarakhand: BJP crosses majority 

Goa: BJP, Congress level 

Manipur: BJP, Congress neck-and-neck 

Congress stands by its decision to join hands with the Samajwadi Party in UP. No word from Akhilesh Yadav yet.

Bad news for Irom Sharmila. Reports coming in suggest that she has lost to Chief Minister Okram Ibobi Singh from Thoubal constituency in Manipur. Sharmila is making her electoral debut after ending her 16-year fast last August.

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Wall Street Ends Up; Jobs Data Points To Economic Strength

US stocks rose on Friday after a solid jobs report pointed to strength in the domestic economy and supported expectations the Federal Reserve will raise interest rates next week. 

Indexes ended lower for the week, however, with the S&P 500 and Nasdaq breaking a six-week streak of gains. 

Government data showed 235,000 jobs were added in the public and private sectors in February, far exceeding economists' average estimate of 190,000. 

Fed Chair Janet Yellen signalled last week the US central bank is set to raise rates this month if employment and other economic data hold up. 

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Friday, 10 March 2017

Sensex, Nifty Trim Early Gains; Oil PSUs Fall

The Sensex was up 70.13 points at 28999.26, while the Nifty was up 23.10 points at 8950.10. 

The market breadth was healthy, but was narrow as compared to the morning session. 

About 1,343 shares advanced, 674 shares declined, while 133 shares remained unchanged. 

Hero MotoCorp, Larsen & Toubro and UltraTech Cement were the top gainers on the index while GAIL, ONGC, Power Grid and BPCL were a drag.


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Exit Polls: BJP In Pole Position In Uttar Pradesh

 

After the high-intensity battle for over two months, exit polls released on Thursday have predicted BJP cruising through in Uttar Pradesh.

AAP in pole position in Punjab, but it has a wafer-thin lead over the Congress. 

BJP is seen snatching the rule from Congress in Uttarakhand. 

In Goa, BJP is likely to come up trumps with debutant AAP trailing behind.

Congress is marginally ahead in Manipur and may win the state election for third time in a row.

Pollsters predict a clear victory for BJP in Uttar Pradesh.

While VMR predicts BJP to win 200 seats, MRC predicts it to win 185 seats. 


Axis feels BJP will win around 251-279 seats in the state. C-Voter predicts BJP to win 161 seats. 

CSDS is the only pollster which feels there can be a neck-and-neck finish between the BJP and SP-Congress with 164-176 seats and 156-169 seats respectively.
Lastly, Network18-Gramener concludes that BJP will win 193 seats.

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Sensex Cheers Exit Poll, Up Over 100 Pts; Nifty Eyes 9000

Investors cheered the results of UP exit poll as the Sensex gained more than 100 points and the Nifty is eyeing 9000 level. 

The 30-share BSE Sensex was up 127.50 points at 29,056.63 and the 50-share NSE Nifty rose 43.05 points to 8970.05. 

About 711 shares advanced against 190 declining shares on the BSE. Adani Ports, Hero Motocorp, ICICI Bank, Larsen and Toubro, GAIL, Tech Mahindra, Kotak Mahindra Bank, Bank of Baroda and Tata Motors were early gainers while ONGC was under pressure.

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Thursday, 9 March 2017

SBI Chief Says New Bank Charges Will Help Jan Dhan Costs

State Bank of India ’s proposal to charge customers for cash transactions and penalize them when they don’t maintain a minimum balance will subsidise financial inclusion accounts including those under Prime Minister’s Jan Dhan Yojna, the bank’s chairman Arundhati Bhattacharya said on Wednesday. 

“SBI’s requirement for minimum balance is lowest among all banks. SBI was the only bank that didn’t have this as we have removed it in 2012. However, now there is a burden of a lot of things. 

We have 11 crore financial inclusion accounts -- Basic savings and Jan Dhan accounts – and have to manage them as well,” Bhattacharya said on the sidelines of a women entrepreneur convention.


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The Indian Rupee Opened Lower By 11 Paise At 66.81 Per Dollar

The Indian rupee opened lower by 11 paise at 66.81 per dollar versus previous close of 66.70. 

Mohan Shenoi of Kotak Mahindra Bank said, "A US Fed rate hike in March looks almost certain and currency markets seem to have fully priced it in. 

The rupee however is resilient on the back of FII flows into Indian equity markets." He expects the USD-INR pair to trade in a range of 66.70-67/dollar for the day. 

The dollar held gains as a stronger-than-expected US private-sector jobs figures in February sealed expectations that the Federal Reserve will raise interest rates next week.

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Sensex Opens Lower, Nifty Breaks 8900; Dr Reddy's, GAIL Fall

Benchmark indices opened lower, with the Nifty breaking 8900 in early trade as investors remained cautious ahead of exit polls for assembly elections later today. 

The 30-share BSE Sensex was down 86.46 points at 28815.48 and the 50-share NSE Nifty fell 21.90 points to 8902.40. 

GAIL and Dr Reddy's Labs were top losers among Sensex and Nifty stocks, down 3 percent followed by BHEL, ONGC, HUL, Wipro and Infosys. 

Asian Paints, Hero Motocorp, Maruti Suzuki, Sun Pharma, Bajaj Auto, BPCL and TCS were early gainers.
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