Friday, 30 June 2017

Cadila Healthcare Share Price Gained More Than A Percent Intraday

Cadila Healthcare share price gained more than a percent intraday after receiving approval from the US health regulator for drug that is used for obesity.

Zydus Cadila has received the final approval from the US Food and Drug Administration to market Phentermine hydrochloride orally disintegrating tablets.

The drug is used together with diet and exercise to treat obesity in people with risk factors such as high blood pressure, high cholesterol or diabetes.

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The Indian Rupee Slipped 9 Paise In The Early Trade At 64.72 Per Dollar

The Indian rupee slipped 9 paise in the early trade at 64.72 per dollar versus 64.63 Thursday.

Ashutosh Raina of HDFC Bank expects the pair to trade in a range of 64.50-64.90/dollar for today.Asian markets lost ground despite China manufacturing activity beating expectations.

Japan's Nikkei 225 dropped 1.08 percent while the Kospi slipped 0.2 percent and Australia's S&P/ASX 200 pulled back 1.45 percent. Hong Kong's Hang Seng Index declined 0.88 percent. On the mainland, the Shanghai Composite was off by 0.18 percent.

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Sensex, Nifty Under Pressure; Sun Pharma Soars Over 3%

The market started off July series on a weak note, with the Nifty falling below 9500 level on weakness in banks stocks.

The 30-share BSE Sensex was down 115.22 points at 30,742.30 and the 50-share NSE Nifty slipped 37.20 points to 9,466.90.

Asian Paints, Tech Mahindra, Tata Motors, Tata Motors DVR, HDFC, HDFC Bank and Kotak Mahindra Bank were under pressure while Bank of Baroda and Sun Pharma gained in early trade.

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Thursday, 29 June 2017

Nifty Midcap Rose More Than 100 Points As About Six Shares

Equity benchmarks opened strong on Thursday ahead of expiry of June F&O contracts later today and due to positive global cues.

The 30-share BSE Sensex was up 146.19 points at 30,980.51 and the 50-share NSE Nifty rose 44.90 points to 9,536.15.

Axis Bank, Infosys, Tata Motors DVR, Infosys, Tata Steel, Bharti Infratel, Eicher Motors, Bank of Baroda and L&T were trading higher in early trade while Bank Nifty gained 100 points.

Nifty Midcap rose more than 100 points as about six shares gained for every share falling on the NSE.

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Asian Markets Open Higher With Central Banks In Spotlight

Asia stocks pressured as Wall Street hit by healthcare vote delay

Asian bourses opened higher on Thursday, taking cues from a stronger finish in US markets, with traders expected to digest comments from top central bankers overnight.

Japan's Nikkei 225 rose 0.53 percent. South Korea's benchmark Kospi index opened at a record level, closing in on the 2,400 level. It was up 0.52 percent in early trade.

Over in Australia, the S&P/ASX 200 was up 0.6 percent.

Indonesian markets remain closed today.Comments from European Central Bank President Mario Draghi on Tuesday about adjustment in the central bank's monetary stimulus had been misinterpreted, according to media reports.

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Wall Street Stocks Surge As Banks, Tech Sectors Spark Rebound

Wall Street stock rallied sharply on Wednesday, with the benchmark S&P 500 index scoring its biggest one-day percentage gain in about two months, as financial and technology stocks led a broad market rebound.

The Nasdaq posted its best session since November 7, the day before the US presidential election.

The S&P 500 had suffered its biggest one-day drop in about six weeks on Tuesday after a healthcare bill was delayed in the US Senate.

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Wednesday, 28 June 2017

Nifty Opens Below 9500, Sensex Volatile; PSU Banks Under Pressure

Nifty rolls were at 47.81 percent, higher than 3-month average of 42.5 percent towards the end of June series while the market wide rollover of 37.01 percent was lower than the 3-month average of 39.1 percent, ICICIdirect said.

It further said Nifty total futures open interest has increased considerably by more than 5 percent on Tuesday due to fresh additions in the July series.

Nifty June series witnessed closure of 6.2 million shares while July series added almost 7.4 million shares, which have prompted sharp increase in Nifty rollover. The current open interest in Nifty is just 13.2 shares, which is relatively low with just two days to settlement.

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Asia Stocks Pressured As Wall Street Hit By Healthcare Vote Delay

Asian shares flat, still on track for winning week

Asian shares slumped on Wednesday after Wall Street was knocked hard in the wake of a delay to a US healthcare reform vote, while the euro rallied after European Central Bank President Mario Draghi hinted that the ECB could trim its stimulus this year.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.2 percent in early trading, while Japan's Nikkei share average also slipped 0.2 percent.

On Tuesday, the benchmark S&P 500 posted its biggest one-day drop in about six weeks and closed at its lowest point since May 31, after the US Senate's move to delay voting on a healthcare reform bill rekindled worries on the timeline for President Donald Trump's business-friendly policies.

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Wall Street Falters As U.S. Senate Delays Health Vote

The benchmark S&P 500 posted its biggest one-day drop in about six weeks and closed at its lowest point since May 31.

Major indexes extended losses after US Senate Republican leader Mitch McConnell decided to put off a planned vote on a bill to dismantle the Affordable Care Act until after the Senate's July 4 recess.

The healthcare legislation, which has encountered resistance from several Republicans, is the first plank of Trump's domestic policy agenda, with investors eager for him to move onto his other plans including tax cuts, infrastructure spending and deregulation.

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Tuesday, 27 June 2017

S&P 500 Edges Up; Tech Weighs On Nasdaq

S&P, Dow hurt by energy, banks; biotech boosts Nasdaq

The S&P 500 and the Dow were slightly higher on Monday but gains were muted by a fall in technology stocks which nudged the Nasdaq lower as investors turned to more defensive sectors.

The slow-growing, high-dividend S&P utilities and telecommunications were the best performers among the 11 S&P sectors.

Technology stocks, which have been under pressure as investors worry about stretched valuations, hit a session low in late afternoon trading.

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Equity Benchmarks Started Off Truncated Week On A Positive Note

Market Live: Sensex, Nifty erase early gains; Tejas Networks lists with 0.3% gains

Equity benchmarks started off truncated week on a positive note, with the Nifty reclaiming 9600 level after a meeting between US President Donald Trump and Prime Minister Narendra Modi in the US.

The 30-share BSE Sensex was up 56.47 points at 31,194.68 and the 50-share NSE Nifty rose 26.40 points to 9,601.35.

ITC, HDFC, HDFC Bank, Adani Ports, HUL and Asian Paints were early gainers while SBI, ICICI Bank, Axis Bank, Infosys and Tata Motors were under pressure.

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Nifty To Open Gap Up By 24 Points At 9616: Dynamic Levels

Nifty to open gap up by 24 points at 9616: Dynamic Levels

Last week Nifty showed profit booking as FII created sell position in the options. The Nifty Index made a high of 9699 and closed at 9575 after making a low of 9565.

Bank Nifty made a high of 23898 and closed at 23543 after making a low of 23508. Small Cap Index closed at 7291 after making low of 7242.

Nifty to open gap up by 24 points at 9616 against Friday's close of 9592 as per SGX Nifty.

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Friday, 23 June 2017

Sensex, Nifty Flat In Opening; M&M, Tata Motors, TCS Early Gainers

Nifty to open gap down up by 3 points at 9629: Dynamic Levels 


Equity benchmarks opened flat with moderate gains as investors cautiously awaited Goods & Services Tax that is expected to be implemented from July 1.

The 30-share BSE Sensex was up 65.58 points at 31,356.32 and the 50-share NSE Nifty rose 12.25 points to 9,642.25.

TCS, Mahindra & Mahindra, Bharti Airtel, Lupin, Dr Reddy's Labs, Kotak Mahindra Bank and GAIL were early gainers while Tata Steel, Wipro, ITC, Hero Motocorp and HCL Technologies were under pressure.

About two shares advanced for every share falling on the BSE.

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Oil Edges Up, But Set For Worst H1 Performance In 20 Years

Here are trends & updates on commodities market

Oil edged up on Friday, recovering slightly from steep falls earlier in the week, but is set for the worst performing first-half in two decades despite ongoing production cuts.

Brent crude futures were at $45.31 per barrel at 0222 GMT, up 9 cents, or 0.2 percent, from their last close.

U.S. West Texas Intermediate crude futures were up 10 cents, or 0.2 percent, at $42.84 per barrel.

Oil prices have fallen about 20 percent this year despite an effort led by the Organization of the Petroleum Exporting Countries to cut production by 1.8 million barrels per day that has been in place since January.

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Indian Rupee Opens Higher At 64.56 Per Dollar

Rupee dives to 3-week low of 64.59 against dollar

The Indian rupee opened marginally higher at 64.56 per dollar against previous close 64.59.

Ashutosh Raina of HDFC Bank said, "The USD-INR pair continues to consolidate in a very narrow band, with the dollar index rising from recent lows and the dollar gaining against most other currencies."

He further added, "We expect the pair to continue trading in the 64.40-64.70/dollar range today."

"Notwithstanding the dovish MPC minutes, the bonds saw a bout of profit booking with the 10-year benchmark bond yield closing at 6.45 percent.

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Thursday, 22 June 2017

Buy, Sell, Hold: 11 Stocks Are Being Tracked By Analysts Today

The global financial services firm said that it liked DB Corp’s strong position in the regional print space and increasingly in radio and digital media.

Further, on the stock’s valuation front, it feels at 14 times FY19 PE, it is attractive and it also maintains a view of a possible buyback going forward.

The rating has been given by the research firm on the back of expensive valuations and tail risks. It believes that the company could compound earnings in mid-teens over the next 3-4 years.

It expects cyclical revival in domestic sales and better pricing to lead to 16 percent earnings in FY17-20.

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The Indian Rupee Opened Flat At 64.53 Per Dollar

The Indian rupee opened flat at 64.53 per dollar against previous close of 64.52.

Mohan Shenoi of Kotak Mahindra Bank feels the next trigger for rupee appears to be the pace and quality of GST implementation.

He expects the USD-INR pair to trade in a range of 64.40-64.70/dollar for the day.

The minutes of the MPC June policy meeting has raised expectations of monetary easing in subsequent policy reviews.Asian markets were cautiously higher as oil prices rose slightly after hitting a ten-month low overnight.

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Sensex Rises 100 Pts, Nifty Opens Above 9650; RIL Leads

Equity benchmarks rebounded in opening trade Thursday, with the Nifty reclaiming 9650 level following positive Asian cues.

The 30-share BSE Sensex was up 109.69 points at 31,393.33 and the 50-share NSE Nifty gained 30.25 points at 9,663.85, backed by Reliance Industries.

Reliance Industries, Tata Motors, Tata Motors DVR, HDFC, Asian Paints, Ambuja Cements and Aurobindo Pharma gained 1-1.5 percent while HUL, ONGC, Wipro, Lupin, HDFC Bank, GAIL and Tata Power were under pressure.

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Wednesday, 21 June 2017

Equity Benchmarks Opened Moderately Lower On Wednesday

Buy, Sell, Hold: 4 stocks and 1 event are on analysts’ radar today

Equity benchmarks opened moderately lower on Wednesday, with the Nifty breaking 9650 level on weak Asian cues.

The 30-share BSE Sensex was down 45.77 points at 31,251.76 and the 50-share NSE Nifty fell 22.05 points to 9,631.45.

HDFC, Tata Motors, Infosys, ICICI Bank, HDFC Bank and ONGC were under pressure while L&T, Reliance Industries, Asian Paints and HUL were gainers.

Amtek Auto and Castex Technologies and Metalyst Forgings rallied 6-13 percent after a media report indicated that 21 investors are in fray for Amtek Auto sale.

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Stocks In Asia Decline After Fall In Oil; MSCI Says Yes To China A-Shares

Asian markets trade higher as markets await political developments in Europe

Asian bourses traded mostly lower on Wednesday following MSCI's decision to add mainland Chinese stocks to its emerging markets index gradually and as oil prices slipped around 2 percent overnight.

The Nikkei 225 declined 0.26 percent and the Kospi fell 0.71 percent.

Australia's benchmark S&P/ASX 200 index tumbled 1.33 percent, dragged lower by its energy and materials sub-indexes which were down 2.25 percent and 2.03 percent respectively.

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Wall Street Falls On Oil Tumble, Consumer Sector And Fed Worries


Wall Street dips as Amazon-Whole Foods deal roils retail
US stocks closed lower on Tuesday as a sharp drop in oil prices hurt energy stocks and retail stocks were pulled down by concerns about Amazon.com's plan to boost its apparel business, while investors also worried about future Federal Reserve rate hikes.

Healthcare was the brightest spot in stocks with a 0.3 percent rise while the consumer discretionary index showed a 1.25 percent drop in line with the energy index decline.

Oil prices fell about 2 percent after news of increases in supply by several key producers, a trend that has undermined attempts by OPEC and other producers to support the market through reduced output.

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Tuesday, 20 June 2017

Sensex, Nifty Higher Amid Consolidation; Tata Power Extend Gains

Market appears fully valued, continue to expect consolidation in near term: JPMorgan

Equity benchmarks extended gains in opening despite mixed Asian cues on Tuesday.

The 30-share BSE Sensex was up 34.09 points at 31,345.66 and the 50-share NSE Nifty rose 9.10 points to 9,666.65 amid consolidation.

Tata Power, Tata Motors, Infosys, Tata Motors DVR, ICICI Bank, L&T and Bharti Infratel were strong in early trade whereas TCS, Axis Bank, Kotak Mahindra Bank, Lupin, Bajaj Auto and SBI were losers.

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Asian Stocks Gain As Dollar Strengthens On Fed Officials' Comments

Asian markets trade higher as markets await political developments in Europe

Asian indexes trekked higher in early Tuesday trade as the dollar strengthened following comments from Federal Reserve officials over future interest rate hikes stateside.

The Nikkei 225 gained 0.86 percent and South Korea's benchmark Kospi index rose 0.45 percent in early trade.

Down Under, the S&P/ASX 200 traded 0.05 percent higher.

With inflation soft despite a 16-year low in the US unemployment rate, the Federal Reserve should move only slowly to raise interest rates and trim its bond portfolio, Chicago Fed President Charles Evans said Monday.

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Wall Street Hits Record Highs On Strong Technology, Health Stocks

US stocks rose on Monday, with the S&P 500 and the Dow hitting record highs with growth sectors such as technology in favour again as investors appeared to regain confidence in the economy after upbeat comments from Federal Reserve officials.

Nasdaq's biotechnology index rose 2.5 percent in its biggest one-day gain since February while the S&P's healthcare index had a record-high close.

Amazon.com's Friday announcement that it would buy Whole Foods and an upbeat tone from Federal Reserve speakers seemed to help reassure investors after the US central bank's rate hike last week, according to J. Bryant Evans, portfolio manager at Cozad Asset Management, in Champaign, Illinois.

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Monday, 19 June 2017

Sensex Rebounds 150 Pts, Nifty Opens Above 9600; Tata Steel Up 2%


Sensex hits 3-week low, Nifty ends below 9600 post Fed rate hike; Aurobindo zooms 7%
Equity benchmarks started off the week on a positive note after seeing consolidation in previous two weeks, backed by positive Asian cues.

The 30-share BSE Sensex was up 126.50 points at 31,182.90 and the 50-share NSE Nifty rose 33.70 points to 9,621.75 while the broader markets gained half a percent

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

Dredging Corporation surged 4 percent on stake sale buzz while Hathway Cable gained 7 percent ahead of its subsidiary IPO launch.

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Indian Rupee Opens Flat At 64.42 Per Dollar

Indian rupee slips 12 paise in opening trade at 64.66

The Indian rupee opened flat at 64.42 per dollar on Monday versus 64.43 Friday.

Pramit Brahmbhatt of Veracity said, "We have a neutral stance on the USD-INR pair in absence of any directional cues and expect it to continue to trade in a range of 64.20-64.80/dollar."

According to Ajay Manglunia of Edelweiss, bond yields have been in a narrow range of late and in the absence of near-term triggers this trend should continue with a positive bias."

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Asian Markets Trade Higher As Markets Await Political Developments In Europe

Asia shares encouraged by Wall Street record, await Fed outlook

Asian bourses traded in the green on Monday as markets geared up ahead of Brexit negotiations between the UK and the European Union, and as French President Emmanuel Macron's party won a parliamentary majority at the weekend.

A report said a van reportedly drove into a crowd of people in the Finsbury Park Area of London and that police reported a number of casualties and one person had been arrested. "Enquiries continue," the metropolitan police wrote in a notice on the incident.

Japan's benchmark Nikkei 225 index gained 0.59 percent and South Korea's Kospi edged higher by 0.55 percent.

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Friday, 16 June 2017

The Indian Rupee Declined In The Early Trade


The Indian rupee declined in the early trade. It has opened lower by 12 paise at 64.66 per dollar, lowest level since May 30, against 64.54 on Thursday.

Ashutosh Raina of HDFC Bank said the shrinking of Fed balance sheet can impact the EM currencies including rupee, and one can expect some weakness going ahead.

He expects the USD/INR currency pair to trade in 64.40-64.70/dollar range today.Indexes in Asia traded mixed following the declines in tech stocks on Wall Street and the Bank of Japan announced monetary policy.

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Sensex Higher, Nifty Above 9600; Tata Motors, HDFC Bank Lead

Equity benchmarks opened moderately higher on Friday, with the Nifty reclaiming 9600 level despite mixed Asia trade.

The 30-share BSE Sensex was up 66.32 points at 31,142.05 and the 50-share NSE Nifty rose 26.40 points to 9,604.45.

HDFC Bank and Tata Motors were leaders in early trade while Infosys, Reliance Industries, HDFC and Asian Paints were under pressure.

The broader markets marginally outperformed benchmarks, with the BSE Midcap and Smallcap indices rising 0.4 percent each. Four shares advanced for every share falling on the National Stock Exchange.

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Wall Street Stumbles As Tech Slide Deepens

Wall Street fell on Thursday as a recent selloff in technology stocks deepened and investors fretted about the economy's health as the Federal Reserve raises interest rates.

The S&P technology sector fell 0.5 percent, continuing a slide that began last Friday, although it had been down more earlier. Apple shares fell 0.8 percent while Google parent Alphabet dropped 1 percent after separate bearish analysts reports on the two tech heavyweights.

The consumer discretionary sector dropped 0.5 percent, as Amazon.com shares fell 1.4 percent. Nike was off 3.3 percent after the company said it would cut about 2 percent of its global workforce and eliminate a quarter of its shoe styles.

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Thursday, 15 June 2017

Market Live: Midcap, Smallcap Outperform Sensex; Aurobindo Top Gainer

Equity benchmarks started off trade on a flat note again, as investors digested 25 basis points rate hike by Federal Reserve in its latest policy meeting.

The 30-share BSE Sensex was up 18.21 points at 31,174.12 and the 50-share NSE Nifty fell 7.65 points to 9,610.50.

Reliance Industries extended gains, up 0.75 percent on top of 3 percent rally in previous session.

Adani Ports, ITC, Bharti Airtel, Tata Motors, Hero Motocorp and ONGC were others gainers while TCS, L&T, ICICI Bank, Infosys and HDFC were under pressure.

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Top 5 Stocks Which Could Give Up To 13% Return In Short Term

The Nifty started the week on a negative note after forming spinning top candle formation last week.

We have witnessed Nifty is trading in downward channel pattern on lower time frame by forming lower low formation, any break above 9650 levels will take Nifty towards 9700 levels which is a strong resistance point for the market while breaking below 9580 may drag Nifty towards 9530-9480 levels.

Derivative data indicate 9700 CE and 9500 PE still holding highest open interest suggesting index will trade in the same range.

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Asian Markets Turn Cautious After Fed Raises Interest Rates

Asian equities turned cautious on Thursday after the US Federal Reserve raised interest rates for the second time this year, as was widely expected by markets.

Despite inflation coming in below the Fed's target, the central bank said it would raise the benchmark interest rate by 25 basis points. The Fed also provided greater detail about how it would unwind its massive balance sheet.

The Nikkei 225 edged lower by 0.6 percent while the Kospi gave up earlier gains to decline 0.75 percent.Australia's S&P/ASX 200 tumbled 1.13 percent, driven by weakness in its materials and energy sub-indexes, which were down 2.3 percent and 2.31 percent respectively.

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Wednesday, 14 June 2017

Nifty Could Dip Towards 9550 Levels; Top 5 Stocks Which Can Give Up To 15% Return

Nifty could dip towards 9550 levels; top 5 stocks which can give up to 15% return

The Nifty is consolidating in the band of 9,600-9,700. But, in recent consolidation, we have not seen any major addition and shedding of open interest. However, options players were active throughout consolidation phase as they sell both calls and puts simultaneously which indicates more consolidation to continue.

The maximum call open interest concentration is at 9,700 calls indicating strong resistance and support around 9,500 as put writers are holding put sell position of those levels.

Data indicates that some more consolidation going forward or minor dip to around 9550 levels. However, if we get any dip we should initiate a fresh long position with the support around 9,500 levels.

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Indian Rupee Opens Flat At 64.34 Per Dollar

The Indian rupee opened flat at 64.34 per dollar on Wednesday against previous close 64.33.

Pramit Brahmbhatt of Veracity said, "Rupee will appreciate and may test 64.20/dollar. Trading range for the spot USD-INR pair for the day will be 64.20-64.50/dollar."

The dollar was softer against a basket of rival currencies as the Federal Reserve's two-day policy meeting is underway and investors expect will conclude with an increase in interest rates.

According to Motilal Oswal currency report, the rupee continues to consolidate in a narrow range ahead of the two-day FOMC policy meeting that concludes today and we could continue to see the consolidation continuing for the pair in today’s session as well."

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Asia Shares Encouraged By Wall Street Record, Await Fed Outlook

Asian shares crept higher on Wednesday after Wall Street notched another all-time high, while the dollar and bonds awaited clarity on the Federal Reserve's future path for U.S. policy after a likely rate rise later in the day.

MSCI's broadest index of Asia-Pacific shares outside Japan added 0.2 percent, while Japan's Nikkei put on 0.5 percent.

Markets took their lead from the Dow , which rose 0.44 percent, while the S&P 500 gained 0.45 percent and the Nasdaq 0.73 percent.

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Tuesday, 13 June 2017

Wall Street Falls As Apple Drags Tech Shares Lower

Apple shares added to last week's drop on Monday to lead a market downturn as tech, still the best performing S&P 500 sector this year, succumbed under its own weight.

Mizuho Securities cut its rating on Apple to "neutral" from "buy" on Monday, saying the stock had outperformed this year and that the "upcoming product cycle is fully captured at current levels." Apple shares, down 2.4 percent on Monday, are up about 26 percent so far in 2017.

The S&P technology sector fell 0.8 percent after dropping 2.7 percent Friday for its largest two-day decline in nearly a year. The tech-heavy Nasdaq Composite underperformed the S&P 500 as the ongoing rout in the sector sparked a search for value elsewhere.

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Indian Rupee Opens Flat At 64.43 Per Dollar

The Indian rupee opened flat at 64.43 per dollar on Tuesday versus previous close 64.44.

Bhaskar Panda of HDFC Bank said, "India story keeps the USD-INR rangebound. Expect a range of 64.35-64.55/dollar to play out for today."

He further added, "Retail inflation came below expectations. Rate cut hopes are now increasing. The 10-year benchmark yield is expected to trade within 6.50-6.52 percent for today."

The dollar index, which measures the dollar against a basket of rival currencies, is marginally softer ahead of the FOMC meeting on Wednesday. While political uncertainty weighs on sterling.

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Sensex, Nifty Open Flat After Industrial Output, Retail Inflation Data

Equity benchmarks opened flat but the broader markets outperformed on Monday, after industrial output and retail inflation data.

The 30-share BSE Sensex was down 4.79 points at 31,090.91 and the 50-share NSE Nifty rose 2.15 points to 9,618.55. About three shares advanced for every share falling on the NSE.

Sugar stocks were in action as Ugar Sugar, Rana Sugar, Shree Renuka Sugars, Bajaj Hindusthan and Balrampur Chini gained 4-8 percent.

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Monday, 12 June 2017

Buy, Sell, Hold: 3 Stocks And 3 Sectors Are Being Tracked By Analysts Today

Tata Motors
The brokerage house sees initial signs of recovery in Land Rover and remains optimistic on the company’s FY18 outlook. Further, it said that the company remains its top pick among Indian autos. A mix improvement cycle could lead to a surprise in margins and earnings before interest, taxes, depreciation and amortisation.

Havells India
The brokerage house said that an improvement in demand and market share gains will drive 22 percent earnings CAGR. 

Axis Bank
The brokerage house stated that risk reward for Axis Bank was favourable and concerns on asset quality was priced in. It said that the valuations were attractive at 1.8 times P/BV on FY19 estimates. It expects an overall loan growth of 17/21 percent for FY18/19.

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Crucial Support For Nifty At 9580; Top 4 Stocks To Buy: Prakash Gaba

Last Friday, the bulls managed to save the day for Nifty after it slipped towards its crucial support level of 9,600 on Friday. The Nifty closed 21 points higher or 0.22 percent at 9,668.25.

The key support level for Nifty50 is placed at 9,625, followed by 9,582. If the index starts to move higher then key resistance levels to watch out are 9,693, followed by 9,718.

Nifty Bank closed 154 points higher or 0.66 percent at 23,690 on Friday. Important Pivot level which will act as crucial support for the index is placed at 23,542 followed by 23,393. On the upside, the key resistance level is 23,774 followed by 23,857.

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Sensex Falls Over 100 Pts In Opening; Nifty Holds 9600; M&M Outperforms

Equity benchmarks started off the week on a negative note Monday, with the Sensex falling more than 100 points, dragged by weak global cues. Technology, FMCG and banking & financial stocks were under pressure.

The 30-share BSE Sensex was down 113.90 points at 31,148.16 and the 50-share NSE Nifty fell 36.75 points to 9,631.50.

TCS, Reliance Industries, ICICI Bank, Tata Motors, Infosys and L&T were leading contributors to Sensex' fall while Mahindra & Mahindra gained a percent.

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Friday, 9 June 2017

RIL Gains 2% After CLSA Reiterates Buy; Bets On Jio Advancements

Shares of Reliance Industries gained nearly 2 percent intraday on Friday after a brokerage firm reiterated its buy call on the stock.

CLSA, in a report, reiterated its bullish call on the stock with a target of Rs 1,710, implying an upside potential of 29 percent. It places its bet on the developments around its telecom service, Jio.

“After improving voice and data service quality over the past few months, we expect Jio to take the next step to monetisation. Also, we see Jio launching an affordable 4G feature phone within 2QFY18,” the brokerage said in its report.

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Nifty Opens Below 9650, Sensex Lower; RIL Up 1%, Infosys Loses 3%

Equity benchmarks extended losses in early trade, with the Nifty opening below 9650 level amid consolidation.

Volatility continued in global markets as exit poll in UK showed UK Prime Minister Theresa May's Conservative Party may not get majority, which means there could be a possibility of hung parliament in the UK after Thursday's election.

The 30-share BSE Sensex was down 82.97 points at 31,130.39 and the 50-share NSE Nifty fell 22.75 points to 9,624.50.

Infosys was the leading loser among Sensex stocks, down 3 percent followed by GAIL, Wipro, Dr Reddy's Labs, Tata Motors and Tech Mahindra.

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Asian Markets Mostly Higher; Pound Weaker As Exit Poll Points To Hung UK Parliament

The pound weakened on Friday in Asia in volatile trade on the ebb and flow of actual results and an exit poll suggested a hung parliament in the U.K. after Thursday's election, with regional indexes mostly higher.

An exit poll showed U.K. Prime Minister Theresa May's Conservative Party might have lost its parliamentary majority, winning just 314 seats of the 326 seats required for a majority. The poll also showed that the Labour Party would secure 266 seats.

Results from the BBC reflected 49 seats for the Conservatives and 64 for Labour at 9:25 a.m. HK/SIN. The BBC's latest projection said the Conservatives would win 322 seats, while Labour would win 261 seats.

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Thursday, 8 June 2017

Sensex Extends Gains, Nifty Eyes 9700; Tata Steel Gains, TCS Falls

Equity benchmarks extended gains in opening trade Thursday, with the Nifty eyeing 9700 level despite cautious trade in global peers ahead of UK elections and Comey testimony.

The 30-share BSE Sensex was up 52.93 points at 31,324.21 and the 50-share NSE Nifty gained 18.50 points at 9,682.40.

Tata Steel topped the buying list among Sensex stocks, up nearly 4 percent followed by Dr Reddy's Labs, HDFC, Tata Motors, Lupin, Aurobindo Pharma and Hindalco.

TCS, GAIL, ONGC, ITC, Infosys, Tata Power and Bharti Infratel were under pressure.

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Asian Shares Down Ahead Of Comey, ECB And UK Election

Asian shares wobbled in early Thursday trade as investors braced for any surprises from former FBI director James Comey's congressional appearance, the European Central Bank's policy meeting and the UK general elections.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.27 percent while Japan's Nikkei rose 0.3 percent thanks to the dollar's rebound against the yen.

Wall Street shares ticked up on Wednesday, despite sharp decline in energy prices, after written testimony from Comey did not add major revelations about an investigation into Russian meddling with last year's U.S. presidential election.

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Wall Street Gains On Comey Relief; Energy Down With Crude

U.S. stocks edged up on Wednesday on relief that written testimony from former FBI director James Comey did not include any big surprise about an investigation into Russian meddling with the U.S. presidential election.

Comey wrote that U.S. President Donald Trump pressured him into watering down the Federal Bureau of Investigation's probe into whether Russia meddled in the November vote.

However, the details of Comey's testimony, expected to be delivered Thursday to a Senate Committee, had been previously reported, and appeared to be priced into the stock market.

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Wednesday, 7 June 2017

Asian Stocks Slip As Risk Off Sentiment Grips Markets

Gold and sovereign debt are set to build on solid overnight gains while Asian stocks are likely to slip on Wednesday as investors reduce risk before several major political and economic events later this week.

With U.K. elections, an European Central Bank policy meeting where policymakers may take a less dovish stance, and former FBI director James Comey's Senate testimony on all set for Thursday, market participants will be wary of taking big positions.

MSCI's broadest index of Asia-Pacific shares outside Japan edged 0.2 percent lower, retreating further from a two-year high hit on Monday. Early Asian markets such as Australia and Japan are pointed lower.

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The Indian Rupee Extended Losses On Wendesday

The Indian rupee extended losses on Wendesday. It opened at 64.49 against the US dollar, down 7 paise compared with Tuesday's closing level of 64.42 a dollar.

Pramit Brahmbhatt of Veracity said in the absence of any directional clarity, the spot USD-INR pair will trade in a tight range of 64.20 to 64.50 today.

Asia was mixed as markets cautiously awaited the UK election, a European Central bank review and former FBI Director James Comey's testimony to the Senate stateside.

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Market Live: Sensex, Nifty Open Moderately Higher Ahead Of RBI Policy Outcome

Equity benchmarks opened moderately higher amid consolidation on Wednesday as investors awaited outcome of two-day Monetary Policy Committee due later today.

The 30-share BSE Sensex was up 47 points at 31,237.56 and the 50-share NSE Nifty gained 20.25 pointsa at 9,657.

GAIL, Bharti Airtel, ICICI Bank, M&M, Hero Motocorp, Vedanta and Bharti Infratel were early gainers while Dr Reddy's Labs, Wipro, TCS, Cipla, Tata Motors, BPCL and Tata Power were under pressure.

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