Saturday, 29 April 2017

Intel Fell 3.4 Percent To $36.15 After The Company Reported

Intel fell 3.4 percent to $36.15 after the company reported lower-than-expected quarterly revenue.

Baidu ended down 4.1 percent at $180.23 after the Chinese internet company forecast second-quarter revenue largely below estimates.

Declining issues outnumbered advancing ones on the NYSE by a 1.59-to-1 ratio; on Nasdaq, a 1.76-to-1 ratio favoured decliners.

The S&P 500 posted 39 new 52-week highs and six new lows; the Nasdaq Composite recorded 103 new highs and 44 new lows.

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Wall Street Slips On Weak GDP Data, But Indexes Rise In April

Stocks edged lower on Wall Street on Friday after data showing the US economy grew at its weakest pace in three years in the first quarter gave traders a reason to cash recent gains.

Major indexes closed up for April, however, with the Nasdaq up for six consecutive months, the longest streak in nearly four years.

Gross domestic product grew at a 0.7 percent annual rate, below the 1.2 percent rise estimated by economists, as consumer spending barely increased and businesses invested less in inventories. The economy grew at a 2.1 percent pace in the fourth quarter.

"GDP was a little bit light and that may be the cause of some weakness today," said Gary Bradshaw, portfolio manager at Hodges Capital Management in Dallas.

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Thursday, 27 April 2017

Stocks In The News: Reliance, Maruti, Axis Bank, Cadila, Zee, Tata Sponge, GIC Housing

-Somany Ceramics' sanitaryware plant expansion complete, capacity increased from 3.03 lakh pieces per annum to 11.50 lakh pieces per annum

-Reliance partners with Germany's Resysta to bring innovative wood alternative in India

-Cadila in focus: Zydus receives final approval from the USFDA for Cholestyramine for oral suspension USP (a cholesterol-lowering agent)

-Petron Engineering receives work order for building structure works at Goregaon (West) for a total value of Rs 110 crore

-Inox Leisure commenced operations at Multiplex Cinema, Pune - 4 screens and 662 seats

-Union Bank: Ind-Ra assigns AA/stable rating to Basel III bonds

-IFCI in focus: NSE IPO likely to be delayed

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Nifty On Track To Hit 9,400; 5 Stocks Which Could Give Up To 15% Return In Short Term

Finally, Nifty took a breather and closed a day at a lifetime high. The Nifty touched historical level on Tuesday with huge volume indicating index is ready to jump higher.

We have seen continuous profit booking after Nifty touched previous high at 9,273 levels and in the last two sessions, index erased all the losses and touched fresh highs again.

The Nifty broke its three-week consolidation pattern on Tuesday and gave closing above the same in presence of volume. If the index manages to hold above 9,220 levels, we expect Nifty to unfold its target of 9370-9440 in coming sessions.

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Market Live: Sensex Opens Flat; Nifty Volatile Ahead Of F&O Expiry; Lupin Lower

Equity benchmarks opened Thursday's trade on a flat note after yesterday's record closing high and ahead of expiry of April futures & options contracts.

The 30-share BSE Sensex was up 42.84 points at 30,176.19 and the 50-share NSE Nifty gained 7.60 points at 9,359.45.

The Indian rupee extended gains further as it has opened at 64.05 per dollar today, higher by 7 paise over 64.12 a dollar in previous session.

Mohan Shenoi of Kotak Mahindra Bank said global equity markets were continuing to rally reflecting risk-on sentiment and Asian currencies were also rallying on the back of the equity market rally.

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Wednesday, 26 April 2017

LIVE MCD Election Result 2017: BJP Set For Sweeping Mandate In Delhi

AAP leader Gopal Rai is expected to give a statement to the media shortly. Will it introspect into its loss or will the party blame the BJP and hint at wrongdoing?

"Our hearts are a little sad today because of the Sukma tragedy and celebrations will be muted," says Delhi BJP leader Manoj Tiwari. "But this is a vote for strong governance. Our focus going forward will be on carrying out clean-up campaigns and fogging."

On Arvind Kejriwal, he says the CM should think of his call for providing voters the "right to recall" elected candidates. "Delhi has shown it wants to recall the AAP. Kejriwal should resign".

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Market Live: Sensex At All Time High, Crosses 30K; Nifty Eyes 9350 On Global Cues

Equity benchmarks started off day at fresh record high on Wednesday, with the Sensex surpassing psychological 30,000-mark on continued positive momentum and global cues.

The 30-share BSE Sensex was up 83.64 points at 30,026.88 and the 50-share NSE Nifty rose 32.35 points to 9,338.95, backed by banking & financials, FMCG and technology stocks.

HDFC, ITC, TCS, ICICI Bank, M&M, SBI and Reliance Industries were early gainers.

Axis Bank added more than 1 percent ahead of earnings later today while Wipro surged 2 percent on better-than-expected numbers in Q4 and hopes of strong FY18 earnings.

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Indian Rupee Breaches 64 Mark; Trades At Highest Level Since Aug 2015

Indian rupee increased the initial gains as it breached the 64 mark, trading at the highest level since August 10, 2015. It is currently trading at 63.99 per dollar.

The Indian rupee gained in the early trade on Wednesday. It has opened higher by 7 paise at 64.19 per dollar versus 64.26 Tuesday.

Pramit Brahmbhatt of Veracity said, "The rupee can breach the stiff resistance of 64.20/dollar and may head higher. We expect the spot USD-INR pair to trade in a range of 64-64.40/dollar today.

"The US dollar surged against the Canadian loonie after the United States imposed duties on Canadian softwood, while the dollar hit a two-week high against the yen on greater risk appetite.

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Tuesday, 25 April 2017

Buy, Sell, Hold: Analysts Have These 4 Stocks On Their Radar Today

Reliance IndustriesCiti maintained its buy call on the stock with an increase in its bull case target to Rs 1,923 due to higher Jio valuation and lower peak net debt. It believes that the company’s outperformance could sustain as the earnings are an at an inflection point. 

Indiabulls Housing Finance
CLSA retained its buy call on Indiabulls Housing Finance with an increase in target price to Rs 1,170 from Rs 950. The brokerage firm also raised its earnings estimates by 3 percent and saw 23 percent profit CAGR over FY17-20.

Mahindra and Mahindra

Credit Suisse upgraded Mahindra and Mahindra to outperform from neutral and increased the target price to Rs 1,500 from Rs 1,390, implying 20 percent potential upside. While tractor volumes were up 14 percent in March despite demonetisation.


UltraTech Cement

CLSA raised the target price of the stock to Rs 4,575 from Rs 4,000. The company’s March quarter performance was in line with its estimates, it stated. A pan-India presence, growth focus and cost optimization were the key focusses, CLSA said.

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Asia Stocks, Euro Steady As Markets Pause For Breath After French Election

Asian equities were steady on Tuesday and the euro retained gains as markets' euphoria over a centrist victory in the first round of the French presidential election subsided, though near-term investor sentiment remains positive.

The risk rally has kept safe-haven assets, including the yen and gold came, under pressure, while the Canadian dollar fell after the US announced new duties averaging 20 percent on Canadian softwood lumber imports.

The Canadian currency tumbled to a four-month low as the US dollar strengthened 0.35 percent to CUSD 1.3543.

MSCI's broadest index of Asia-Pacific shares outside Japan was little changed early on Tuesday.

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Market Live: Sensex Soars 170 Pts, Nifty Above 9250; Bank Opens At Record High

Equity benchmarks extended gains on Tuesday as the Sensex opened higher by more than 150 points and the Nifty reclaimed its 9250 level, backed by Reliance Industries. Positive Asian cues also aided the rally.

The 30-share BSE Sensex was up 171.05 points at 29,826.89 and the 50-share NSE Nifty gained 48.85 points at 9266.80. Nifty Bank opened at record high.

Reliance Industries surged 2.46 percent after better-than-expected earnings in Q4. M&M, ICICI Bank, Dr Reddy's Labs, Cipla, Indiabulls Housing Finance, Ambuja Cements and Hindalco were other early gainers.

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Monday, 24 April 2017

Stocks In The News: Reliance, Infosys, Dr Reddy's, Divis, L&T Finance, IRB Infra, ACC

-L&T Tech expands partnership with Microsoft for smart city & campus project

-USFDA issues warning letter for the Divis Labs' init-II at Visakhapatnam

-Indiabulls Ventures' preferential issue of 4.7 crore shares at Rs.94 to Tamarind Capital

-Reliance Industries commences commercial production of coal bed methane in Sohagpur

-IRB Infrastructure files offer document of IPO of units of IRB InvIT Fund

-Dr Reddy's Laboratories announces the launch of Progesterone Capsules in the US market

-IMP Powers
receives order worth Rs 62 crore from Tamil Nadu Transmission Corporation for 1920 MVA of 160 MVA, 230KV power transformers

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HDFC Bank Gained More Than 1 Percent On Top Of 2 Percent Rally

HDFC Bank gained more than 1 percent on top of 2 percent rally in previous trading session due to stable earnings in Q4.

Reliance Industries also gained over a percent ahead of earnings due later today. Outlook on Reliance Jio will be closely watched.

Benchmarks extended gains as the Sensex was up 103.64 points at 29468.94 and the Nifty rose 29.25 points to 9148.65.

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

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Sensex Opens Higher, Nifty Eyes 9150; HDFC Bank, Reliance Lead

Equity benchmarks opened the week moderately higher on Monday as the Nifty is inching towards 9150 level, backed by HDFC Bank, Reliance Industries and L&T.

The 30-share BSE Sensex was up 48.41 points at 29,413.71 and the 50-share NSE Nifty gained 18.25 points at 9,137.65. About 872 shares advanced against 283 declining shares on the BSE.

The Indian rupee opened marginally higher at 64.55 per dollar today against Friday's closing value of 64.61.

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Friday, 14 April 2017

Infosys Results Show IT Hiring In Slow Lane

Infosys’s latest quarterly numbers look uninspiring. Many feel that the company’s best days are behind, and that it no longer deserves the label of a growth stock.

In the post earnings conference call with analysts and fund managers, the management didn’t sound too bullish. So do not expect a return to the Murthy era of under promise and over deliver.

CEO Vishal Sikka said that the company would stay the course on transformation, but requested investors to be patient as radical changes, including those in organisational culture, would take time.

Still, it may be too early to write off the erstwhile industry bellwether as it tries to navigate the ongoing disruption in the sector.

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What Should Investors Do With Infosys Post Q4 Results – Buy, Sell, Or Hold?

The stocks slipped sharply on Thursday after it said that CC revenue growth guidance of 6.5-8.5 percent for FY18E which missed Street expectations of 7-9 percent.

The management has given a conservative revenue guidance of 6.5-8.5 percent in constant currency terms for FY18 and has also lowered its EBIT margin guidance to 23-25 percent citing visa concerns, higher investments in offshore and cross currency impact.

Infosys stock which closed 3.8 percent lower on Thursday broke below its 13-days exponential moving average, 10-DEMA, and 5-DEMA. The supertrend indicator is also showing a downtrend for the stock while the MACD has already given a sell back in the month of March.

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Thursday, 13 April 2017

Wall Street Ends Lower; Trump Comments Dampen Sentiment Late

US stocks eased on Wednesday and the S&P 500 closed below a key technical level for the first time since Election Day, pressured by lingering geopolitical concerns and President Donald Trump's comments on the dollar and interest rates.

Trump said in a Wall Street Journal interview that the dollar "was getting too strong," though he also said he would like to see interest rates stay low.

The dollar, which has risen along with prospects for higher rates, hurts profits at US multi-nationals when it strengthens.

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Infosys Q4 Profit Falls 2.8%, FY18 Dollar Revenue Guidance At 6.5-8.5%

Software services exporter Infosys has reported profit at Rs 3,603 crore for January-March quarter, degrowth of 2.8 percent against Rs 3,708 crore in previous quarter.

Revenue fell 0.88 percent to Rs 17,120 crore compared with Rs 17,273 crore previous quarter.

According to average of estimates of analysts polled by CNBC-TV18, profit was expected at Rs 3,570 crore on revenue of Rs 17,235 crore for the quarter.

Dollar revenue during the quarter stood at USD 2569 million, a growth of 0.7 percent over USD 2551 million in December quarter, which was slightly lower than analysts' forecast of USD 2,584 million.

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Markets Open Lower; Nifty Below 9200, Infosys, Tata Steel Down

The Sensex down 46.92 points at 29596.56, and the Nifty down 18.35 points at 9185.10. About 673 shares have advanced, 441 shares declined, and 55 shares are unchanged.

Reliance Industries, Cipla, Sun Pharma, Bajaj Auto, GAIL, Bosch, Indiabulls Housing and Aurobindo Pharma are the top gainer on the indices, while Adani Ports, Infosys, Tata Steel, Larsen and Toubro, Tata Motors, Hindalco and Tata Power are the top losers.

Infosys has reported profit at Rs 3,603 crore for January-March quarter, degrowth of 2.8 percent against Rs 3,708 crore in previous quarter.

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Wednesday, 12 April 2017

Wall Street Ends Down; Geopolitical Risks Weigh Ahead Of Earnings

US stocks ended down but well off the day's lows on Tuesday, with concern over geopolitical risks weighing on sentiment as investors readied for the start of US corporate earnings reports.

Worries over rising tensions between the United States and Russia, Syria and North Korea drove investors into gold and other safe-haven assets and pushed up the CBOE Volatility index , Wall Street's fear gauge, which closed above 15 for the first time since Election Day.

US Secretary of State Rex Tillerson carried a message from world powers to Moscow on Tuesday denouncing Russian support for Syria's Bashar al-Assad.

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Axis Bank, ONGC, ICICI Bank, Yes Bank Were Other Early Gainers

Axis Bank, ONGC, ICICI Bank, Sun Pharma, Eicher Motors, IOC, Ambuja Cements and Yes Bank were other early gainers while Wipro, Bharti Airtel, Tata Motors, Cipla, M&M, HDFC and Tata Motors were losers.

The Indian rupee slipped in the early trade today. The rupee has opened lower by 13 paise at 64.62 per dollar versus 64.49 Tuesday.

Pramit Brahmbhatt of Veracity expects the rupee to trade with a negative bias on the back of negative cues from domestic as well as global equity markets.

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Sensex, Nifty Open Cautious Ahead Of Infosys Earnings; Reliance Gains

Equity benchmarks opened flat on Wednesday after a rally in previous session, as investors turned cautious ahead of Infosys earnings due tomorrow.

The 30-share BSE Sensex was up 0.38 points at 29,788.73 and the 50-share NSE Nifty fell 1.90 points to 9,235.10. About 420 shares advanced against 181 declining shares on the BSE.

Reliance Industries was the biggest gainer among Sensex stocks after the company unveiled new plan for subscribers.

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Tuesday, 11 April 2017

Asian Shares Pressured By Geopolitical Risks; Nikkei Down 0.25%

Asian equities eased on Tuesday morning, following a lower close on Wall Street as geopolitical tensions continued to weigh.

Australia's benchmark ASX 200 index reversed earlier losses of 0.08 percent to bounce 0.59 percent. The National Australia Bank reported its measure of business confidence came in at +6 in March, a dip from +7 the previous month.

South Korea's Kospi fell by 0.13 percent.

Concerns over geopolitical tensions continue to build on the Korean Peninsula after the US deployed a carrier strike group closer to the region, and as joint US-Korea military drills continue till the end of the month.

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Wall Street Ends Choppy Session Up Slightly; Energy Helps

US stocks ended a choppy session slightly higher on Monday as gains in energy shares offset losses in financials ahead of quarterly corporate earnings later this week.

Geopolitical tensions added to the choppiness. US Secretary of State Rex Tillerson said on Sunday the military strikes against Syria over its alleged use of chemical weapons were a warning to other nations, including North Korea, that "a response is likely" if they pose a danger.

With trading slow at the beginning of a holiday-shortened week, volume was the lightest of the year so far.

The S&P energy index , up 0.8 percent, was the day's best-performing S&P 500 sector, following gains in oil prices.

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Market Live: Sensex Opens Higher, Nifty Eyes 9200; Infosys Leads, Vedanta Falls 6%

Equity benchmarks started off day on a mildly positive note, with the Nifty inching towards 9200 level, backed by Infosys and banks. However, Reliance Industries and FMCG stocks capped gains.

The 30-share BSE Sensex was up 31.01 points at 29,606.75 and the 50-share NSE Nifty gained 5.15 points at 9,186.60.

The Indian rupee opened lower by 9 paise at 64.65 per dollar today against previous close of 64.56.

Bhaskar Panda of HDFC Bank says in US, non-farm payroll number was below market expectations but unemployment rate was lower. The dollar index is hovering just below 101.

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Monday, 10 April 2017

Buy, Sell, Hold: Analysts Are Focusing On These 5 Stocks Today

Info Edge
Motilal Oswal has a buy rating on the stock with a target price of Rs 1,000. The brokerage house highlighted the significant improvement in Zomato’s performance in FY17 and that its sharp reduction in burn is a significant positive.

The company is a major stakeholder in the restaurant listings and food ordering firm. It highlighted that Zomato had refrained from discounting and applied it to less than 2 percent of the orders. Going forward, the company has massive room to continue growing transactions without spending much.

Yes Bank

Motilal Oswal has a buy rating on the stock with a target of Rs 2,110, adding that the re-rating is led by diversification and balance sheet granularity. The brokerage house expects the bank to register 28 percent loan CAGR over FY17-20. The robust loan growth and net interest margin expansion will drive 27 percent PAT CAGR through FY20. Furthermore, the lender is poised to leverage on investments in franchise, people and technology, the brokerage house added.

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TCS, BPCL, IOC and Bharti Infratel Were Early Gainers

Coal India, Reliance Industries, L&T, BHEL, Cipla, TCS, BPCL, IOC and Bharti Infratel were early gainers while HDFC, GAIL, Lupin, Asian Paints, Eicher Motors and Asian Paints were losers.

The Indian rupee opened marginally lower at 64.30 per dollar against Friday's close of 64.28.

Pramit Brahmbhatt of Veracity says next technical hurdle for rupee is 64.20/dollar. Trading range for the spot USD-INR pair will be 64.20-64 70/dollar, he feels.

The dollar started the week at three-week highs against a currency basket after a key US Federal Reserve official reinforced the Central Bank's commitment to interest rate hikes.

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Nifty Holds 9200, Midcap Outperforms; Q4 Earnings Eyed

Equity benchmarks continued to consolidate with a positive bias amid geopolitical tensions and ahead of fourth quarter earnings season that will be kicked off by Infosys on April 13.

The 30-share BSE Sensex was up 35.13 points at 29,741.74 and the 50-share NSE Nifty gained 10.70 points at 9,209 while the broader markets outperformed, rising half a percent on positive breadth.

More than two shares advanced for every share falling on the BSE.

Reliance Industries, Axis Bank, TCS, Tata Motors and Infosys were leading contributors to Sensex' gains whereas HDFC fell a percent that capped market gains.


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Saturday, 8 April 2017

New York Fed President William Dudley On Friday Shed

New York Fed President William Dudley on Friday shed more light on the US central bank's developing plan for when to stop replacing bonds that expire in its portfolio, how to execute it, and how far it would ultimately shrink its balance sheet.

US Treasury yields rose after Dudley's remarks, which helped push equities lower, according to Paul Zemsky, chief investment officer, Multi-Asset Strategies and Solutions, at Voya Investment Management in New York.

LibertyView's Meckler said Dudley's remarks were not earth-shattering but "small statements are having a magnified affect because investors are worried."


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Wall Street Down After Weak Jobs, Fed Comments, Syria Airstrikes

Wall Street's three major indexes edged lower on Friday in a choppy session as investors grappled with a weaker-than-expected job report, the US airstrike in Syria and a top Federal Reserve official's comments on trimming the US central bank's balance sheet.

Investors were trying to work out how the developments would affect US President Donald Trump's ability to proceed with his pro-business agenda.

The market rallied sharply after Trump's November 8 election on his promises for tax cuts, spending and lighter regulation, but investors increasingly have been questioning whether the proposals would ever materialise.

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Friday, 7 April 2017

India Is A Stock Picker's Market; Nearly 200 Stocks Hit Lifetime High In April

The liquidity-driven rally pushed not just benchmark indices to record high in April, but as much as 188 stocks on the BSE hit fresh record highs in the same period.

The S&P BSE Sensex had a touch and go moment with mount 30K, while the Nifty hit a record high of 9,273.90. But, the action was seen in the small and midcap space, which outperformed benchmark indices by a wide margin in the financial year 2017.

Improved macroeconomic environment, abundant liquidity both global and domestic, government’s focus on reforms, stable currency and commodity prices, and hopes of earnings recovery have all contributed in the sharp run-up seen in benchmark indices.

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Asia Stocks Meander Ahead Of Trump Xi Talks, US Jobs Data

Asian stocks drifted early on Friday after Wall Street and the dollar clocked tentative gains, with markets cautious over the talks between the US and Chinese presidents and US employment data later on Friday.

MSCI's broadest index of Asia-Pacific shares outside Japan was flat, headed for a 0.2 percent weekly increase.

Japan's Nikkei added 0.8 percent early on Friday after touching a four-month low on Thursday. It's set to post a 0.85 percent loss for the week.

The MSCI World index is down 0.4 percent for the week.

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Sensex Falls 150 Pts On Global Cues After US Fires Missiles Into Syria

Equity benchmarks opened sharply lower on weak global cues after the US fired dozens of cruise missiles into Syria.

The 30-share BSE Sensex was down 149.99 points at 29,777.35 and the 50-share NSE Nifty fell 47.30 points to 9214.65.

Reliance Industries share price fell 1.6 percent on profit booking post TRAI order.

Crude prices spiked, the dollar weakened slightly and markets fell in Asia and stock futures in the US turned negative after the US fired missiles into Syria.

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Thursday, 6 April 2017

Top 5 Stocks Which Could Give Up To 17% Return In The Short Term

Strong consolidation finally broke and benchmark got a needed closing above 9,220 level thereby unfolding 9,270-9,320 levels in the coming days.

The Nifty continued to trade above 9,210 and has given the highest weekly, monthly and quarterly closing. For the short-term trading purpose, Nifty need to hold above 9,130 levels for the next upside target of 9,270-9,320-9,350 levels.

Godrej Industries: BUY | Target Rs 590 | Stop Loss Rs 500 | Upside 11%

GE T&D: BUY | Target Rs 395 | Stop Loss Rs 309 | Upside 17%

BEML: BUY | Target Rs 1520 | Stop Loss Rs 1290 | Upside 11%

NCC: BUY | Target Rs 100 | Stop Loss Rs 80 | Upside 16%

Muthoot Finance: BUY | Target Rs 460 | Stop Loss Rs 360 | Upside 16%


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Market Live: Sensex Opens 100 Pts Lower On Caution Ahead Of RBI Meet Outcome

Equity benchmarks opened lower on Thursday, with the Sensex falling more than 100 points on profit booking as investors maintained cautious stance ahead of outcome of RBI Monetary Policy Committee meet later today. Weak global cues also weighed.

The 30-share BSE Sensex was down 117.91 points at 29,856.33 and the 50-share NSE Nifty fell 36.60 points to 9,228.55.

HDFC, Reliance Industries, ICICI Bank and L&T dragged the market while Tata Motors and Bajaj Auto were gainers.

The Indian rupee declined in early trade. It has opened lower by 18 paise at 65.05 per dollar versus 64.87 Wednesday.

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Wall Street Falls As Fed Minutes Reverse Earlier Rally

Wall Street ended lower on Wednesday after a late-afternoon reversal following signals from the Federal Reserve that it could change its bond investment policy this year, quenching a rally sparked by a strong private-sector jobs report.

Also investor concerns about the Trump administration's ability to deliver promised tax cuts were intensified by comments from lawmakers on deep divisions in Washington.

Most Federal Reserve policymakers think the US central bank should take steps to begin trimming its USD 4.5 trillion balance sheet this year as long as the economic data holds up, Fed meeting minutes showed.

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Wednesday, 5 April 2017

The Nifty Closed At A Record High On Monday At 9,237

The Nifty closed at a record high on Monday at 9,237 and it looks like Indian market may start on a flat note but with a positive bias tracking global cues.

There could be a possibility that Nifty may hit a fresh record high but the momentum may not sustain.

The index may trade sideways on Wednesday ahead of the Reserve Bank of India’s policy review, which will be out on Thursday.

Market participants are expecting a status-quo stance this time from RBI but the commentary on rate cuts will give a direction to the market.

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The Indian Rupee Opened Marginally Lower At 65.07 Per Dollar

The 30-share BSE Sensex was down 79.75 points at 29,830.47 and the 50-share NSE Nifty fell 15.15 points to 9,222.70, dragged by HDFC, ITC, Infosys and ICICI Bank.

However, Reliance Industries continued to support the market, up nearly 2 percent on value buying.

The Indian rupee opened marginally lower at 65.07 per dollar against Monday's closing value of 65.02.

Bhaskar Panda of HDFC Bank feels the rupee is likely to remain rangebound today and stay between 64.90-65.10/dollar.

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Sensex Falls After Hitting 30000 In Opening; RIL leads, HDFC Drags

Shares of KEC International touched 52-week high of Rs 220.85, rises 4.4 percent intraday as it has won orders worth Rs 1781 crore.

The company’s transmission and distribution business has won orders worth Rs 1702 crore, which includes orders worth Rs 1270 crore from international markets.

The transmission business of the company got an order worth Rs 432 crore in domestic market from PGCIL of 800 kV HVDC transmission line and construction & extension of 765/400 kV GIS/AIS substations.

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Tuesday, 4 April 2017

Asia Stocks Down As Investors Seek Safe Havens

Asian share markets were down in skittish early trade on Tuesday as investors held their breath ahead of a potentially tense meeting between US President Donald Trump and his Chinese counterpart Xi Jinping later this week.

The dollar inched lower as investors sold stocks in Europe and on Wall Street overnight to seek shelter in safe havens as political uncertainty overshadowed positive US economic data and solid growth in global manufacturing.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.2 percent in early trade. Japan's Nikkei was down 0.4 percent as investors sought out the safe-haven yen. China, Hong Kong, Taiwan and India are closed for holidays.

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Wall Street Down On Weak Auto Sales, Doubts About Trump Agenda

Wall Street closed slightly lower on Monday as March auto sales disappointed and investors questioned whether the Trump administration would deliver on its pro-business economic stimulus

Stocks had risen to record highs on Trump's promises to cut taxes, ease regulations and spend heavily on infrastructure, and investors hoped that his policies would boost the economy.

General Motors was one of the biggest drags on the S&P 500 after automakers' sales figures for March came in below market expectations, an early signal America's long car sales boom may finally be losing steam.

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Monday, 3 April 2017

Top 20 Stocks Trade At A Steep Discount To Their Book Value

Investors are always looking for stocks which are undervalued and price below book value is a good measure to track companies which might be worth looking at.

Let’s first understand what is the book value of a stock. Book value should ideally include everything has such as stocks, bonds, inventory, machinery, real estate etc.

Companies with lots of machinery would have large book values. It is used as a number 1 figure while evaluating such companies.

A simple way is to just divide the current value of the stock by its stated book value per share, which will give us price-to-book value.

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Stocks Start Week Steady After Strong Quarter, US Policies In Focus

Asian shares started the week on a steady footing on Monday after a bumper quarter as investors look to the shape of US trade and economic policies and how they could affect global growth.

MSCI's broadest index of Asia-Pacific shares outside Japan was little changed in early trade while Japan's Nikkei rose 0.1 percent.

Ex-Japan Asia MSCI had gained 12.3 percent in the last quarter, its biggest quarterly gains in 6-1/2 years and almost double the 6.4 percent rise in MSCI's broadest gauge of the world's stock markets.

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Nifty Opens At All Time High, Sensex Up Over 100 Pts; Reliance Leads

Equity benchmarks started off the week on a strong note, with the Nifty hitting a record high on positive Asian cues and ahead of RBI policy meet.

The Indian rupee opened marginally higher at 64.80 per dollar on Monday versus 64.85 Friday.

Pramit Brahmbhatt of Veracity said, "Considering the US data, a technical bounce in the dollar from hereon cannot be ruled out.

Thus rupee may depreciate for the day and the trading range for spot USD-INR pair is seen between 64.80-65.20/dollar."

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