Wednesday, 31 May 2017

M&M Extended Gains To Over 4 Percent After Brokerage Houses Remained Positive

Shares of Mahindra and Mahindra traded 4 percent higher as investors cheered the robust results from the firm.

The utility vehicle and tractor maker reported 26.3 percent growth in profit at Rs 873.72 crore for January-March quarter year-on-year, saying its FY18 outlook is much more robust. Other income and exceptional gain boosted bottomline.

Revenue during the quarter increased 4.3 percent to Rs 10,612 crore compared with Rs 10,174.58 crore in same quarter last fiscal, impacted by slow volume growth of 2.5 percent.

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Market Live: Midcap, Smallcap Outperform Sensex, Nifty; Investors Await Q4 GDP

Equity benchmarks were mixed in opening trade, with the Nifty holding 9,600 level amid consolidation, ahead of GDP data for the March quarter and FY17.

The 30-share BSE Sensex was down 9.32 points at 31,150.08 and the 50-share NSE Nifty fell 0.95 points to 9,623.60.

Mahindra & Mahindra was top gainer in early trade, up 3 percent; followed by Lupin, Bharti Airtel, GAIL, ICICI Bank, IOC and Hindalco.

Infosys, ITC, TCS, NTPC, ONGC and Aurobindo Pharma were early losers.

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Nifty To Inch Towards 9,700; 5 Stocks Which Can Give Up To 13% Return In Short Term

In June series, most of the Nifty futures have been rolled over in the band of 9,360 to 9,500 with average long rollover around 9,430. The current outstanding open interest for Nifty futures is 2.07 crore shares.

Therefore, strategy for June series should be buying on dips if we get any dip near 9,500-9,550 as from current levels 9,500 should act as strong support.

From the last few sessions, Nifty is showing sideways moves but with positive bias along with the addition of decent open interest.

The Nifty has added nearly 19 lakh shares of open interest in last two days indicating accumulation in consolidation indicating a fresh up move towards 9,700 soon.

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Tuesday, 30 May 2017

Indian Rupee Opens Weaker Against Dollar At 64.63

The rupee on Tuesday opened at 64.63 to the dollar, down 0.2 percent from its previous close. On Monday, the rupee closed marginally weaker against the dollar at 64.50.

Bhaskar Panda of HDFC Bank said that the dollar index has firmed up a bit on the basis of political uncertainties in Europe. He said the USD-INR pair has been in consolidation mode around 64.50 to the dollar and that the same trend is likely to continue.

Panda added that the USD-INR is expected to trade between 64.45 and 64.70 in the immediate term.

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Flat Open For Asian Markets After Trading Sideways Last Session; China And HK Closed

Markets in Asia traded sideways early Tuesday, following directionless trade in yesterday's session as major markets around the world were closed for various holidays.

The Nikkei 225 edged 0.13 percent lower in early trade. The S&P/ASX 200 was effectively flat, trading 0.01 percent lower.South Korea's benchmark Kospi index rose 0.11 percent.

Markets in Hong Kong and China are closed today for a public holiday. Stateside, markets in the U.S. were closed on Monday for Memorial Day.

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Sensex Opens Lower, Nifty Hovers Around 9600; L&T Gains 3%, BHEL Loses 6%

Equity benchmarks started off Tuesday's trade on negative note due to profit booking after rising for three consecutive sessions.

The 30-share BSE Sensex was down 8.56 points at 31,100.72 and the 50-share NSE Nifty fell 9.50 points to 9,595.40.

L&T, M&M, NTPC, GAIL, Tata Motors, Aurobindo Pharma, Tech Mahindra, IOC and Adani Ports were early gainers while BHEL, Coal India, TCS, SBI, Bharti Airtel, BPCL, Power Grid and Vedanta were losers.

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Monday, 29 May 2017

Tech Mahindra Lost Over 12 Percent Intraday As Investors Reacted

Tech Mahindra lost over 12 percent intraday as investors reacted negatively to the company’s results.

The IT services major posted a consolidated net profit for the March quarter at Rs 589.7 crore, a fall of 30.2 percent against Rs 845 crore quarter on quarter.

A poll of analysts by CNBC-TV18 had pegged the net profit at Rs 788 crore.

The company’s consolidated rupee revenue came in around a percent lower at Rs 7,495 crore against Rs 7,557.5 crore QoQ.

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Sensex, Nifty Correct After Hitting Record Highs; PSP Projects Falls 7%

Equity benchmarks have seen correction in early trade Monday due to profit booking after hitting record highs in previous week. Weak earnings from Sun Pharma and Tech Mahindra also hit market sentiment.

The 30-share BSE Sensex was down 154.11 points at 30,874.10 and the 50-share NSE Nifty slipped 43 points to 9,552.10.

Sun Pharma and Tech Mahindra crashed around 8 percent post disappointing earnings. ITC, ONGC, M&M, ICICI Bank and Infosys were other early losers while BHEL, Cipla, Tata Motors, Wipro, Lupin, Vedanta, Dr Reddy's Labs, BPCL and Aurobindo Pharma were gainers.

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Asia Opens Mostly Flat After Latest North Korea Missile Test

Markets in Asia opened mostly flat on Monday after the latest ballistic missile test by North Korea and as major markets are closed for public holidays today.

North Korea fired what looked to be a ballistic missile near its coast. The missile reportedly landed in the Sea of Japan after staying in the air for 6 minutes. This is the ninth missile the hermit state has tested this year, as it faces increasing pressure from the U.S. and historical ally China over its missile testing program.

Japan's benchmark Nikkei 225 index edged higher by 0.02 percent in early trade while South Korea's Kospi added 0.32 percent. This is the seventh straight session of gains for the Kospi.

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Wednesday, 24 May 2017

Indian Rupee Opens Weaker Against USD At 64.91

The Indian rupee on Wednesday opened at 64.91 to the dollar, 2 paise weaker than its previous close of 64.89.

Pramit Brahmbhatt of Veracity said, "Pessimism which persists in the domestic equity market will be the reason for rupee to depreciate. The spot USD-INR pair will trade in a range of 64.80-65.20/dollar today."

The dollar held firm, rebounding from 6-1/2-month lows against its major peers thanks to a rise in US treasury yields, with investor focus now turning towards the Federal Reserve's monetary policy stance.

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Stocks In The News: Lupin, Tata Steel, Videocon, NCC, Voltas, Cerebra Integrated

Voltas enters into JV with Ardutch B.V. (a subsidiary of Arçelik A.S.; part of the Koç Group – Turkey’s largest industrial and services group)

Videocon
Says Crash in stock price due to classification of NPA by Dena Bank
CCI approves amalgamation of Videocon D2H with Dish TV
CCI approves acquisition of up to 6.02 percent stake by Aceville in Flipkart

JHS Svendgaard
Conversion of 4.4 lakh warrants into equity shares allotted on preferential basis

TV Today Network
Migration from Phase II to Phase III of 3 FM radio stations

Mangalore Chemicals & Fertilizers
CARE has revised the Long Term Rating to BBB Stable from BBB-;Stable and Short Term Rating to BBB from BBB-

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Asian Markets Open In The Green; FOMC Minutes, OPEC Meeting In Focus

Major indexes in Asia opened higher on Wednesday as investors looked ahead to US Federal Reserve views on interest rate hike prospects and await an upcoming OPEC meeting widely expected to extend production cuts for nine months to March 2018.

Markets are awaiting the release of minutes from the Fed's for its last meeting on Wednesday in the US for details on the probability of a rate hike in June. More information from the Fed on how it intends to unwind its balance sheet is also expected.

Another potentially market-moving upcoming event is the OPEC meeting on Thursday that will be led by Saudi Arabia. Oil prices have been rising on optimism over hopes that will be OPEC-led output cuts will be extended with non-OPEC key producer Russia also in the pact.

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Tuesday, 23 May 2017

Asian Markets Trade Sideways Following Wall Street Gains

Asian markets traded sideways on Tuesday, after major indexes on Wall Street closed in the green and on headlines out of the UK of a deadly explosion at a concert venue in Manchester.

Nineteen people were reported dead following a blast at the Manchester Arena in northern England where US singer Ariana Grande had been performing, Reuters said. The UK police are treating the blast as a terrorism incident.

The safe-haven yen climbed after news of the bombing. The dollar was fetching as little as 110.84 yen down from around 111.34 yen earlier. At 9:00 a.m. HK/SIN, the dollar was fetching 111.13 yen.
 
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Wall Street Ends Up; Defence, Tech Stocks A Boost

US stocks rose on Monday, boosted by technology shares and by defence companies, which gained after the United States and Saudi Arabia signed a multi-billion dollar arms deal.

Shares of General Dynamics , Raytheon , and Lockheed Martin all hit record highs early on but ended off those levels, with gains of between 0.6 percent and 1.6 percent. Boeing gave the Dow its biggest boost, ending up 1.6 percent at USD 183.67.

The S&P industrials index rose 0.7 percent and the S&P 500 posted a third straight day of gains, further recovering from last week's selloff that was tied to worries about the outlook for US President Donald Trump's domestic agenda.

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Sensex, Nifty Open Absolutely Flat, Pharma Stocks Crack

Equity benchmark indices began the session on a flat note, with the Sensex and Nifty trading with double digit gains.

The Sensex was up 21.25 points at 30592.22, while the Nifty was up 5.30 points at 9443.55. The market breadth was narrow as 447 shares advanced against a decline of 312 shares, while 39 shares were unchanged.

Midcaps gained marginally higher, along with IT and auto indices on the Nifty, while pharma stocks took a hit on the back of negative news flow. Aurobindo Pharma and Sun Pharma fell over 4 percent.

Maruti Suzuki, HDFC, and Asian Paints were the top gainers, while GAIL and Sun Pharma lost the most on both indices.

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Monday, 22 May 2017

Market Live: Sensex Opens 200 Points Higher, Nifty Nears 9500; FMCG Stocks Gain

The market began the week on a positive note, with benchmark indices tracking trends from the global bourses and saw a gap-up opening.

The 30-share Sensex was up 204.32 points at 30669.24, while the Nifty was higher by 51.15 points at 9479.05. The market breadth was healthy as 430 shares advanced against a decline of 106 shares, while 37 shares were unchanged.

Midcaps gained nearly a percent, while FMCG index on the Nifty gained over a percent. Gains in auto, bank and infra were also seen on the index.

ITC, Tata Steel and Hindalco gained the most on both indices, while Wipro, Sun Pharma and State Bank of India lost the most.

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Stocks In The News: Bajaj Auto, Laurus Labs, M&M, Bhushan Steel, SPARC, Deccan Cement

Mahindra and Mahindra
To invest in high-end electric powertrain technology which will be used for the future line up of electric vehicles

Cadila Healthcare
NCLT approves the Scheme of Arrangement between Cadila Healthcare Limited and Zydus Healthcare Limited

Zuari Agro
Integrated Revamp of Ammonia-Urea plants at a cost of approximately Rs 1300 crore capacity will increase from 1350 MTPD to 1800 MTPD

Hindustan Copper
To manufacture copper cathode, proposed capacity to be 1.0 lakh tonne per annum at an estimated cost of Rs 3025 crore

SPARC
USFDA denies approval for Elepsia XR

Bhushan Steel
Wins auction for iron ore mine in Sundergarh district having a reserve of 92 million tonne

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Markets Mostly Higher In Asia, Shrug Off North Korea Missile Test

Asian equities traded mostly higher on Monday, following the continued recovery on Wall Street last week and as investors digest yet another missile test out of North Korea at the weekend.

The hermit state said the missile test on Sunday involved an intermediate-range ballistic missile, according to Reuters. North Korean state media said leader Kim Jong Un had "approved the deployment" of the missile, Reuters said.

Markets are also likely watching the outcome of US President Donald Trump's first foreign trip which began in Saudi Arabia during the weekend. An arms deal worth USD 350 billion was inked on Saturday between the two countries.

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Friday, 19 May 2017

Nifty To Open Flat On Back Of Mixed Global Cues: ICICI Direct

Post a negative start, the Nifty remained under pressure throughout the day on the back of aggressive profit booking and selling in cash market. Towards the end, the index ended 96 points lower. Nifty futures ended at a premium of 12 points. India VIX rose 0.7 percent, ending at 10.6.

FIIs sold Rs 361 crore while DIIs bought Rs 898 crore in the cash segment. FIIs sold Rs 141 crore in index futures and bought Rs 2685 crore in index options. In stock futures, they sold Rs 1124 crore.

The highest Put base is at the 9300 strike with 68 lakh shares while the highest Call base is at the 9500 strike with 62 lakh shares. The 9400 and 9500 Call strikes saw additions of 6.2 and 9.4 lakh shares, respectively, while the 9500 and 9400 Put strikes saw additions of 19.2 and 13.6 lakh shares, respectively.

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Wall Street Rebounds From Trump Induced Sell Off; Dollar Rises

Wall Street rebounded on Thursday from its biggest sell-off in more than eight months, helped by strong US economic data, but uncertainty over US President Donald Trump's agenda kept an index of global equity markets near a three-week low.

The US dollar reversed early losses against a basket of major currencies after stronger-than-expected US economic data put the focus back on a widely anticipated increase in interest rates by the Federal Reserve.

Still, reports that US President Donald Trump had tried to intervene in an investigation of alleged Russian meddling in last year's US presidential election, and that his aides had numerous undisclosed contacts with Russian officials, kept markets concerned over his ability to implement his economic agenda.

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Asia Stocks Mixed, Dollar Steady On Data, But Trump's Troubles Weigh

Asian stocks were mixed early on Friday and the dollar held onto overnight gains made on strong economic data, but investors were cautious due to uncertainties surrounding President Donald Trump after reports he tried to influence a federal investigation.

MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.2 percent, on track for a weekly loss of 0.5 percent.

Japan's Nikkei was almost 0.1 percent higher, headed for a decline of 1.6 percent for the week.MSCI's emerging markets index extended losses by 0.2 percent on Friday. It posted its lowest close in two weeks on Thursday.

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Thursday, 18 May 2017

Wall Street Tumbles As Reform Hopes Fade With Trump Crisis

The S&P 500 and the Dow notched their biggest one-day fall since September 9 as investor hopes for tax cuts and other pro-business policies faded after reports that US President Donald Trump tried to interfere with a federal investigation set off alarm bells on Wall Street.

Former FBI chief James Comey said in a memo that Trump had asked him to end a probe into former National Security Adviser Michael Flynn's ties with Russia, the reports said.

That was only the latest worry in a tumultuous week at the White House after Trump unexpectedly fired Comey and reportedly disclosed classified information to Russia's foreign minister about a planned Islamic State operation.
  
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Asia Drops As White House Turmoil Hits Risk Sentiment, Dollar Bruised

Asian stocks fell on Thursday in line with global peers, and the dollar nursed deep losses against the yen as uncertainty mounted over US President Donald Trump's future following reports that he tried to interfere with a federal investigation.

MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.4 percent.

Japan's Nikkei shed 1.2 percent, Australian shares lost 1.1 percent and South Korea's Kospi declined 0.5 percent.

Equities in Asia took cues from Wall Street, where the Dow and S&P 500 both sank about 1.8 percent overnight following reports that Trump tried to influence a federal probe.

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Sensex, Nifty Open Lower On Global Selloff; Midcaps, Pharma Stocks Fall

The Sensex was down 133.62 points at 30525.15, while the Nifty fell 48.15 points at 9477.60. The market breadth was negative as 193 shares advanced against a decline of 734 shares, while 37 shares were unchanged.

Hero MotoCorp, Dr Reddy’s, Hindalco and Adani Ports were the top losers on both indices, while Wipro, TCS and HDFC gained the most.

All major indices on the Nifty—midcaps, IT, pharma, auto and energy, others—were trading lower, driving the consolidation.

The Indian rupee opened lower by 19 at 64.34 per dollar on Thursday versus previous close 64.15.

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Wednesday, 17 May 2017

Sensex Opens Lower, Nifty Snaps 9500 On Profit Booking; Tata Steel Up 3% Post Q4

The 30-share Sensex was down 46.43 points at 30536.17, while the broader index Nifty was down 20.15 points at 9492.10. The market breadth was narrow as 436 shares advanced against a decline of 357 shares, while 62 shares were unchanged.

Midcaps, banks, auto and pharma indices on the Nifty were lower, while metals surged.

Tata Steel gained over 3 percent on the back of strong Q4 earnings, while TCS and ICICI Bank were the other top gainers. Meanwhile, ITC, Bharti Airtel, Zee Entertainment and Bosch lost the most.

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Stocks In The News: Tata Steel, Golden Tobacco, Lupin, Capital First, IRB Infra

Cox & Kings
Transfers operating lease in its Cologne City hotel

Golden Tobacco
Central Excise imposes penalty of Rs 29 crore

IDBI Bank
Revision in ratings by Ind-Ra

BHEL
Care assigns AA+ to long and short term non fund based bank facilities

VIP Clothing
CRISIL rating has changed from negative to rating watch with positive implication

Abbott withdraws 3 sets of coronary balloon catheters

JSW Steel
seeks iron ore linkage for orrissa plant

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Asian Markets Fall As Safe Haven Yen Climbs

The Nikkei fell 0.62 percent by 8:36 a.m. as the safe-haven yen strengthened in the wake of renewed political risk. The dollar was fetching just 112.57 yen at 8:02 a.m. HK/SIN, an around two-week low.

Across the Korean Strait in South Korea, the Kospi was down 0.35 percent. Australia's S&P/ASX 200 dropped 0.81 percent.

The euro rose to a six-month high as political event risk receded from the continent. The common currency last traded against the dollar at $1.1088, compared with levels under USD 1.09 last week.

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Tuesday, 16 May 2017

Buy, Sell, Hold: 2 Stocks And 1 Sector Are On Analysts’ Radar Today

Vedanta

CLSA observed that Vedanta’s quarter on quarter growth was driven by higher volumes of Hindustan Zinc and aluminium business with better metal prices. It highlighted that the company was positive of a ramp up of Ali Smelters and potential for increase in iron ore mining caps. It expects payouts to be higher than 30 percent dividend policy announced by the firm.

Colgate 

 
The company’s 2 percent volume decline raises concerns over the company’s moat that was considered invincible. It feels that Patanjali’s impact seems to be underestimated by industry reports. With the market moving towards Ayurveda, Colgate seems unprepared with only 1 product to offer.

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Bharti Airtel Was The Biggest Gainer Among Largecaps

Bharti Airtel was the biggest gainer among largecaps, up nearly 3 percent followed by Tata Steel, TCS, Dr Reddy's Labs, IOC, ACC and ICICI Bank.

Asian Paints, HDFC Bank, BHEL, HDFC, Adani Ports, Kotak Mahindra Bank, Cipla and Bank of Baroda were early losers.

The Indian rupee was flat at 64.06 per dollar in opening against previous day's close of 64.06.

Bhaskar Panda of HDFC Bank says the rupee has been supported by global cues as well as firm flows from FIIs and FDI. Today, he expects the USD-INR pair to trade in a range of 63.95-64.20/dollar range.

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Sensex Gains 150 Pts, Nifty Eyes 9500; Reliance, ITC Top Contributors

Benchmark indices extended gains in morning to trade around record highs, aided by Reliance Industries, ITC and Infosys.

The 30-share BSE Sensex was up 150.61 points or 0.50 percent at 30,472.73 while the 50-share NSE Nifty inched towards 9500 level, up 36.20 points at 9,481.60.

The broader markets underperformed benchmarks despite positive breadth. The BSE Midcap index was up 0.2 percent and Smallcap gained 0.39 percent. About 1146 shares advanced against 702 declining shares on the BSE.

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Monday, 15 May 2017

Stocks In The News: Adani Ent, Titan, Godrej Ind, SH Kelkar, TeamLease, Jindal Stainless

-Godrej Industries in focus: Godrej Agrovet directors approve IPO

-Premier Explosives' preferential issue of total 1,38,000 warrants and 6,13,000 equity shares to promoters & non promoters

-United Bank of India revised marginal cost of funds based lending rate

-Corporation Bank fixed marginal cost of funds based lending rate

-GMR Infra to sell stakes in Indonesian coal mining entities: Mint

-Tata Metaliks shuts down plant

-Power Grid to offer masala bonds, to set up solar park in Gujarat

-Welspun Enterprises in focus: CARE upgrades rating to A1+

-Swaraj Auto board approves new business plan to set up seat frame manufacturing unit

-Vishnu Chemicals' shares pledged by promoters

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The Indian Rupee Has Opened Higher By 18 Paise At 64.12 Per Dollar

The Indian rupee has opened higher by 18 paise at 64.12 per dollar against Friday's closing of 64.30.

Pramit Brahmbhatt of Veracity feels weak economic data released on last Friday as well as positive cues from domestic equity market may trigger a fall in the dollar.

According to him, the rupee may breach 64.20/dollar levels and the spot USD-INR pair is likely to trade in the range of 64-64.40/dollar.

The dollar index is slightly lower against a basket of major currencies after US economic data came in shy of expectations and another missile test by North Korea over the weekend underpinned the perceived safe-haven yen.

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Sensex Firm, Midcaps Continue Outperformance; Banks Gain

Equity benchmark indices traded steady after opening 100 points higher, while the Nifty was seen nearing 9450. Midcaps and banks continued to trade half a percent higher.

The Sensex was up 99.37 points at 30287.52, while the Nifty was up 32.25 points at 9433.15. The market breadth was marginally narrow as 1,293 shares advanced against a decline of 692 shares, while 97 shares were unchanged.

Dr Reddy’s Laboratories, Tata Steel, Kotak Mahindra Bank and Grasim were the top gainers on both the indices, while Infosys, Reliance and Aurobindo Pharma lost the most.

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Friday, 12 May 2017

The 30-Share BSE Sensex Was Up 45.86 Points At 30,296.84

The 30-share BSE Sensex was up 45.86 points at 30,296.84 and the 50-share NSE Nifty rose 14.30 points to 9,436.70.

Infosys, SBI, Tata Motors, HUL, M&M, Bank of Baroda and Kotak Mahindra Bank were early gainers while TCS, Bharti Airtel, ICICI Bank, HDFC Bank, Axis Bank, Bharti Infratel and Indiabulls Housing were losers.

The Indian rupee opened higher by 5 paise at 64.33 per dollar versus previous close of 64.38.

Ashutosh Raina of HDFC Bank expects the rupee to continue trading in 64.20-64.70/dollar range, with a weakening bias.

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Nifty Breaks 9400, Sensex Lower On Profit Booking; Asian Paints Loses

Equity benchmarks turned lower amid consolidation in morning, with the Nifty breaking 9400 on profit booking.

The 30-share BSE Sensex was down 85.19 points at 30,165.79 and the 50-share NSE Nifty fell 34.85 points to 9,387.55. The broader markets were also under pressure on weak market breadth.

About two shares declined for every share rising on the BSE.Asian Paints topped the selling list among Sensex stocks, down nearly 3 percent post earnings.

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Indian Rupee Opens Higher At 64.33 Per Dollar

The Indian rupee opened higher by 5 paise at 64.33 per dollar on Friday versus previous close 64.38.

Ashutosh Raina of HDFC Bank said, "The economic data coming out of US lately has been generally better than expectations, strengthening the case for a June Fed rate hike. The dollar index is quietly clawing back to 100, and US bond yields are also quietly moving higher."

"The USD-INR pair has been trading in the 64.20-64.70/dollar range on the back of resumption of some portfolio flows. We expect the pair to continue trading in this range, with a weakening bias."

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Thursday, 11 May 2017

Sensex, Nifty Trade Steady After Strong Opening; Zee Ent Up 4%

Equity benchmark indices traded in the green zone, with the Sensex and Nifty trading steady after the huge gains posted on Wednesday.

The 30-share Sensex was up 70.34 points at 30318.51, while the Nifty was up 29.70 points at 9437.00. The market breadth was positive as 1,226 shares advanced against a decline of 764 shares, while 96 shares were unchanged.

Hero MotoCorp, Tata Steel and Zee Entertainment gained the most on both the indices, while Bharti Airtel and Hindustan Unilever lost the most on the back of profit booking.

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Wall Street Mixed After Trump Fires FBI Head; Nasdaq Hits Record High

US stocks were mixed on Wednesday as investors digested President Donald Trump's abrupt dismissal of his FBI chief as well as corporate earnings from Walt Disney and Nvidia.

The Dow Jones industrial average lost ground, while the Nasdaq closed at a record high.

Trump said he fired Federal Bureau of Investigation Director James Comey over his handling of an email scandal involving then-Democratic presidential nominee Hillary Clinton.

However, Comey had also been leading an investigation into whether Trump's 2016 presidential campaign colluded with Russia.

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Asian Markets Open Cautiously Higher Following Mixed Close Stateside

Asian indexes were cautiously higher in early Thursday trade, following a mixed close stateside as investors noted Snap's USD 2.2 billion loss, and monitored potential fallout on President Donald Trump's policies after FBI Director James Comey was fired.

Comey was dismissed by US President Donald Trump yesterday reportedly to increase public trust. The search for Comey's replacement is underway.

The Nikkei 225 edged up 0.2 percent while South Korea's benchmark Kospi index added 0.55 percent on Thursday. The ASX 200 was slightly higher, gaining 0.04 percent in early trade.

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Wednesday, 10 May 2017

Wall Street Loses Oomph But Apple Crosses USD 800 Billion Mark

The S&P 500 fell on Tuesday after edging up to an intra-day record high for the second straight session, while Apple became the first US company to close with a market capitalization above USD 800 billion.

Better-than-expected quarterly earnings from US companies and Emmanuel Macron's victory in the French presidential election on Sunday have given investors confidence, but valuations for US stocks are already higher than average.

The hope that US President Donald Trump will cut corporate and personal taxes remained in focus for investors.

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Asia In The Green With Comey's FBI Dismissal, New South Korean President In Focus

Equities in Asia were in the green on Wednesday as investors digest the dramatic dismissal of FBI Director James Comey in the US and follow the inauguration of liberal candidate Moon Jae-in after his win in the South Korean presidential election.

Official results reflected that Moon, a candidate from the Democratic Party of Korea, had won 41.1 percent of the vote, according to Reuters. Moon will take on the presidency after the ouster of former South Korean President Park Geun-hye was removed from office on corruption charges.

Political developments in the U.S. are also likely to weigh. FBI Director James Comey was fired by U.S. President Donald Trump on the recommendation of Attorney General Jeff Sessions and Deputy Attorney General Rod Rosenstein.

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Sensex Reclaims 30K In Opening Trade, Nifty Around 9350; Pharma Stocks Gain

Benchmark indices opened on a positive note, with indices achieving key milestones in the opening trade. The Sensex clocked 30,000 before coming lower. The Bank Nifty and midcap index were up around half a percent.

The Sensex was up 62.04 points at 29995.29, while the Nifty up 25.65 points at 9342.50. The market breadth was very healthy as 399 shares advanced against a decline of 97 shares, while 35 shares were unchanged.

ONGC, Cipla, Aurobindo Pharma and Grasim were top gainers on both the indices, while Bharti Airtel, Hero MotoCorp, and Bharti Infratel lost the most.

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Tuesday, 9 May 2017

Stocks In The News: Aurobindo Pharma, Eros, Bharti Infratel, Torrent Pharma, Havells

Signs asset sale deal with Torrent Pharma
To sell brand regestrone including intellectual property right to TorrentUS FDA: Aurobindo Pharma's Hyderabad Unit 4 Issued Form 483 With 7 Observations

US FDA Observations For Aurobindo:
Buildings Used In Mfg Of A Drug Product Not Maintained In A Good StateLaurus Labs

Natco launches generic version of Sofosbuvir 400 mg/ Velpatasvir 100 mg in India, wherein the net profit of the sale of this Hepatitis C related product is

shared between Natco and LaurusTata Sponge
Environment Clearance Granted for Enhancement of DRI Production from 3,90,000 TPA to 4,25,000 TPAPunjab & Sind Bank

Allotment of Basel-III compliant Additional Tier-1 Bonds with coupon of 10.90 percent p.a. on Private Placement basisBharti Infratel Q4
Cons Net Profit At Rs 596.6 Cr Vs CNBC-TV18 Poll Of Rs 703 Cr
Cons EBITDA At Rs 1,585 Cr Vs CNBC-TV18 Poll Of Rs 1,563 Cr



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Asian Markets Muted; South Korean Election, Australia Budget In Focus

Asian equities were mostly muted after soaring in the previous trading session with investors focused on key regional events unfolding in the day, including a presidential election in South Korea and the release of the Australian federal budget.

South Koreans take to the polls today to choose a new leader after the ouster of former President Park Geun-hye on bribery charges. The front-runner in the election is Moon Jae-in from the liberal Democratic Party of Korea.

Polls show that Moon has secured 38 percent of support from voters among a total of 13 candidates, according to Reuters.

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Market Live: Sensex Opens Flat, Nifty Above 9300; Midcaps Gain

Benchmark indices opened in the green on Tuesday, with indices posting marginal gains and holding on to key milestones.

The 30-share Sensex was up 35.66 points at 29961.81, while the Nifty was up 11.50 points at 9325.55. The market breadth was healthy as 593 shares advanced against a decline of 179 shares, while 31 shares were unchanged.

Asian Paints, Hero MotoCorp, HDFC and Indian Oil were top gainers on both the indices, while Adani Ports, Bharti twins and Ambuja Cements lost the most.

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Monday, 8 May 2017

Nifty Likely To Enter Risk Off Mode; 5 Stocks Which Could Give Up To 17% Return

The market created a fresh 52-week high last week on the back of a stellar performance of heavyweights such as ICICI Bank standalone and the Bank Nifty. Nonetheless, the later part of the week saw a correction in the other heavyweight’s pack that dragged down the index to close down below the 9,300 mark.

The macro-technical alert in the form of break in international commodities that was raised seems to have acted, to say the least. This brings us to the juncture, where a risk-off status may set in for next few days.

This may set into a correction towards 9,190 levels, followed by the 6-week low placed at 9,020. After a stellar move seen in the past few weeks, the profit booking in the heavyweights is certainly welcome; though it seems quite evenly balanced.

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Ambuja Cements And ACC Gained Between 5 And 7.5 Percent

ICICI Bank, Asian Paints and cement stocks Ambuja Cements and ACC gained the most on both indices, while HDFC and Wipro lost the most.

Ambuja Cements and ACC gained between 5 and 7.5 percent on the back of merger talks between the companies, while Eicher Motors gained over 2.5 percent post its Q4 results. Avenue Supermarts, the operator of D-Mart, witnessed some profit-taking.

The Indian rupee gained in the early trade on Monday. It has opened higher by 10 paise at 64.27 per dollar versus Friday's close 64.37.


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Sensex Trades Steady, Nifty Holds 9300; ICICI Bank, SBI Gain

Equity benchmarks were trading steady, with indices holding on to key milestones.

The Sensex was up 88.84 points at 29947.64, while the Nifty was up 32.35 points or 0.35% at 9317.65. The market breadth was healthy as 1,388 shares advanced against a decline of 678 shares, while 91 shares were unchanged.

Banking stocks ICICI Bank and SBI as well as cement bunch ACC and Ambuja Cements gained the most on both the indices, while Adani Ports, Tata Steel and Hindalco lost the most.

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Friday, 5 May 2017

Sensex Slips 100 Pts On Profit Booking; SBI, ICICI Bank Gain

Equity benchmarks remained under pressure, with the Nifty struggling below 9350 on consistent profit booking.

The 30-share BSE Sensex was down 125.18 points at 30,001.03 and the 50-share NSE Nifty fell 34.90 points to 9,325.

However, the broader markets outperformed benchmarks, with the BSE Midcap and Smallcap indices trading flat but the market breadth was weak.

About three shares declined for every two shares advancing on the BSE.

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Making Money In Nifty Might Become Difficult; 5 Stocks

Action post a strong rally on April 24, 2017 could well be described as consolidation. Though the Nifty made a new high of 9,367, but thereafter, it is lacking the momentum to carry the index above its previous peak.

On the downside, four digit gann number of support of 9,265 and a 90 degree move from 9,367 is acting as an immediate support. This rangebound activity has ensured a choppy movement within the index.

By Friday, we will get a clear view whether the support of 9,310 is holding or not. We are entering a grinding period, where it is not easy to make money on index. So, wait for a clear move on the index and stick to stock specific ideas.

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Asian Stocks Tread Water On US, Commodities Concerns

Asian stocks are set for a third straight day of losses on Friday as a retreat in crude oil and other commodities prices knocked global sentiment, although receding concerns about France's presidential election kept the euro near six-month highs.

MSCI's broadest index of Asia-Pacific shares outside Japan opened flat on Friday. Japan and South Korea markets are closed for trading.

Commodity prices across the board tumbled, led by oil , which fell by 5 percent in overnight trading on concerns of a supply glut with analysts forecasting further losses.

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Thursday, 4 May 2017

Stocks In The News: ICICI Bank, HDFC, L&T Tech, Amtek Auto, Tata Power, GMR, IG Petro

-BPL to sell complete portfolio of TV's and appliances exclusively on Amazon

-Time Techno launches MOX film under the brand name 'Techpaulin'

-NGL Fine Chemical says Crisil upgrades rating to BBB/Stable and A3+

-Zensar Tech Backbase in pact for digital services to banking clients

-TPG and GA forge healthy alliance to close in on Fortis Healthcare, SRL acquisition: ET

-Amtek Auto, Metalyst Forgings, Castex Technologies in focus: DA Capital, SSG eye control of 4 Amtek companies: ET

-CERC refuses relief to Tata Power on PPA termination plea

-Airlines: Vistara may place order for 100 aircraft by June

-Adani Enterprises' fresh trouble in Australia project

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Housing Finance Company HDFC's Fourth Quarter Profit

Housing finance company HDFC's fourth quarter profit on standalone basis is likely to fall 23.2 percent to Rs 2,003.2 crore compared with Rs 2,607.1 crore in same quarter last fiscal.

The profit in Q4FY16 was boosted by gain on sale of stake in HDFC Standard Life Insurance Company to Standard Life Mauritius Holdings.

Net interest income, the difference between interest earned and interest expended, may grow 15.3 percent year-on-year to Rs 2,846.4 crore in the quarter ended March 2017, according to average of estimates of analysts polled by CNBC-TV18.

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Sensex Trades Positive, Nifty Hovers Around 9350; Banks Gain

Benchmark indices were trading strong, with the Nifty hovering around 9350-mark.

The Sensex was up 177.52 points at 30072.32, while the Nifty was up 31.40 points at 9343.35. The market breadth was narrow as 1,458 shares advanced against a decline of 961 shares, while 120 shares were unchanged.

ICICI Bank, State Bank of India and Grasim were top gainers on both the indices, while Tata Motors, HDFC Bank, Hindalco and BPCL lost the most.

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