Monday, 31 July 2017

Asian Shares Mostly Directionless As Markets Digest Weaker Than Expected China PMI

Major Asian indexes were mostly directionless in Monday trade, after geopolitical tensions in the Korean Peninsula ramped up in recent days and markets digested the release of China PMI data.

Japan's Nikkei 225 edged down 0.05 percent and South Korea's Kospi was off by 0.25 percent in early trade.

In Australia, the benchmark S&P/ASX 200 index was higher by 0.26 percent, driven by strong showings in its materials sub-index, which was up 1.57 percent.

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The Indian Rupee Started Off The Week On A Positive Note

The Indian rupee started off the week on a positive note. It has opened at 64.11 against the US dollar, up 4 paise from Friday's closing value of 64.15.

Pramit Brahmbhatt of Veracity feels the rupee will trade positive below 64.20 against the US dollar.

Weak Dollar Index will help rupee to appreciate further, he said.

Trading range for the spot USD-INR pair will be 63.80-64.20 per dollar, according to him.

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Equity Benchmarks Started Off The Week On A Positive Note

Market Live: Nifty opens above 10,000, Sensex moderately higher; L&T gains 2%

Equity benchmarks started off the week on a positive note, with the Nifty holding 10,000-mark. Investors awaited the decision of two-day monetary policy committee meeting that will begin on Tuesday.

The 30-share BSE Sensex was up 45.59 points at 32,355.47 and the 50-share NSE Nifty rose 10.05 points to 10,024.55. About two shares advanced for every share falling on the BSE.

L&T was top gainer among Sensex stocks, up 2.2 percent followed by Lupin, ICICI Bank, Vedanta, Kotak Mahindra Bank with moderate gains. HDFC rebounded after initial fall.
  
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Friday, 28 July 2017

Equity Benchmarks Remained Under Pressure In Morning Trade

Equity benchmarks remained under pressure in morning trade, with the Sensex falling over 100 points following weakness in global peers.

The 30-share BSE Sensex was down 127.08 points at 32,256.22 and the 50-share NSE Nifty fell 30.65 points to 9,989.90.

The broader markets outperformed benchmarks, with the BSE Midcap and Smallcap indices rising 0.35 percent each on positive breadth.

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The NSE Nifty Started Off The August Series On A Negative Note

Nifty to open gap down by 24 points at 9998: Dynamic Levels

The NSE Nifty started off the August series on a negative note, falling below 10,000-mark on correction in banks and healthcare stocks.

The 30-share BSE Sensex was down 134.80 points at 32,248.50 and the 50-share NSE Nifty fell 33.45 points to 9,987.10.

ICICI Bank, Dr Reddy's Labs, HUL, Lupin, Bharti Airtel, Hindalco, ONGC, Vedanta and Sun Pharma fell up to 5 percent while ITC and L&T gained.


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Thursday, 27 July 2017

Shares Of Indiabulls Real Estate Rose Nearly 9 Percent Intraday

Shares of Indiabulls Real Estate rose nearly 9 percent intraday as investors cheered a ratings initiation on the stock.

While the stock rallied post its removal from the F&O ban, CLSA too initiated coverage on the stock with a buy rating and a target price of Rs 282.

CLSA said that the portfolio shift towards office income should double the lease income over the next five years.

The company, the brokerage added, will complete 20 msf of ongoing residential development projects over 3-4 years.

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Nifty Midcap Was Up 0.5 Percent As About Seven Shares Gained

Tech Mahindra, Cipla, Hindalco and Bosch were moderately lower.

Nifty Midcap was up 0.5 percent as about seven shares gained for every two shares falling on the NSE.

Bharat Financial, Manappuram Finance, Ujjivan Financial and L&T Finance Holdings gained up to 3 percent while Indiabulls Real surged 8 percent. Shree Renuka Sugars and Parsvnath Developers also rallied.

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The Market Hit Fresh Record Highs In Early Trade On Thursday

Nifty likely to move towards 10,130; 4 stocks which can give up to 15% return

The market hit fresh record highs in early trade on Thursday, with the Nifty opening above 10,000 level on expiry day after US Federal Reserve meet and ahead of corporate earnings.

The 30-share BSE Sensex was up 126.76 points at 32,509.22 and the 50-share NSE Nifty rose 40.55 points to 10,061.20.

HCL Technologies and Yes Bank rallied up to 2.5 percent post earnings while ICICI Bank, Idea Cellular, ITC and Maruti Suzuki gained up to 1 percent ahead of earnings.

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Wednesday, 26 July 2017

Shares Of Axis Bank Fell Over 2 Percent Intraday On Wednesday

Shares of Axis Bank fell over 2 percent intraday on Wednesday as investors reacted to the lender's the June quarter performance.

The country’s third-largest private sector lender’s profit contracted 16 percent year-on-year to Rs 1,306 crore for the quarter ended June 2017, which was slightly ahead of estimates but grew by 7 percent QoQ.

The profitability was impacted by slow growth in net interest income, lower operating income and higher provisions but other income and lower tax cost limited degrowth.

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HDFC Q1 Profit Seen Down 7% To Rs 1,734 Cr But Net Interest Income May Increase 15%

Image result for housing finance company

Housing finance company HDFC's first quarter profit is expected to fall 7.3 percent year-on-year to Rs 1,733.7 crore but net interest income may increase 14.9 percent to Rs 2,562.1 crore, according to average of estimates of analysts polled by CNBC-TV18. Earnings will be announced on July 26.

Analysts feel interest accrual on few stressed accounts can impact net interest income growth. Non-convertible debentures aggregating to Rs 5,000 crore with a coupon of 1.43 percent has lapsed in March 2017.

Therefore, slight increase in cost of funds is seen due to replacement of the liability, according to analysts.

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The Sensex Was Up 28.89 Points At 32257.16, While The Nifty Was Up 18.35 Points

Nifty @10K is a landmark achieved; IT, pharma and PSU banks reasonably valued: Kotak MF

The Sensex was up 28.89 points at 32257.16, while the Nifty was up 18.35 points at 9982.90. The market breadth was positive as 318 shares advanced against a decline of 110 shares, while 32 shares were unchanged.

Midcap stocks were trading strong, while metal stocks surged on the back of global commodity rally.

Adani Ports, Dr Reddy’s Laboratories, Vedanta and Hindalco gained the most, while Asian Paints and Axis Bank were the top losers.

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Tuesday, 25 July 2017

Business Confidence For July September Slides 13% On GST

Business confidence for July-September slides 13% on GST 'teething issues'

Business confidence for the July-September quarter declined 13 per cent over the last year as companies are seeing some "teething issues" on their road to compliance with the new GST regime, says a report.

The Dun and Bradstreet Composite Business Optimism Index stood at 72.1 during July-September of 2017, down 13.3 per cent from the same period last year.

"Given the scale of the changes, our respondents are factoring into their scores teething issues in the short run, learning the intricacies of the new tax regime, adjusting to the input tax credit and logistics of the GST system," said Manish Sinha, Managing Director – India, Dun and Bradstreet.

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HDFC Bank Shares Touched Fresh Record High

HDFC Bank shares touched fresh record high of Rs 1,756 following thumbs up from brokerage houses post better-than-expected earnings despite farm loan waiver concerns.

Jefferies has upgraded the stock to buy and raised target price to Rs 2,000 while Goldman Sachs maintained buy rating with increased target at Rs 2,208, saying the lender is on course for a market capitalisation of USD 100 billion.

BofAML, too, said its market cap could exceed USD 100 billion by FY20.

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Equity Benchmarks Started Off Tuesday At Fresh Record High

Equity benchmarks started off Tuesday at fresh record high, with the Nifty hitting historic high of 10,000-mark.

The 30-share BSE Sensex was up 101.98 points at 32,347.85 and the 50-share NSE Nifty rose 31.80 points to 9,998.20.

HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Hero Motocorp, ITC, SBI, Bharti Airtel and Reliance Industries were top contributors to Sensex' gains.

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Monday, 24 July 2017

Gold Near Four Week High As Political Uncertainty Weighs On Dollar

Gold prices touched their highest in four weeks on Monday, supported by political uncertainty in the United States that pushed the dollar to its lowest in over a year.

The dollar struggled near a 13-month low against a basket of major currencies as U.S. political woes dampened hopes for quick passage of Trump's stimulus and tax reform agendas.

A weaker greenback makes dollar-denominated gold less expensive for holders of other currencies, while the metal is also used as an alternative investment during times of political and financial uncertainty.

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Asia Opens Lower; Nikkei Down 0.9%, Kospi Down 0.2%

Asia opened lower on Monday, with markets focus on the sliding dollar and the upcoming two-day policy meeting from the Fed later in the week.

In Australia, the ASX 200's slipped 0.81 percent to 5,676.4 with most sectors trading lower. The heavily-weighted financials subindex was down 1 percent as major banking stocks came under pressure.

Shares of ANZ was down 1 percent, Commonwealth Bank fell 0.88 percent, Westpac lower by 0.99 percent and the National Australia Bank slid 1.07 percent.

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Equity Benchmarks Started Off The Week On A Positive Note

See Nifty open on positive note, gain of 15 points: Maximus Securities

Equity benchmarks started off the week on a positive note, with the Nifty and Bank indices opening at record highs.

The 30-share BSE Sensex was up 51.05 points at 32,079.94 and the 50-share NSE Nifty gained 9.05 points at 9,924.30. About two shares advanced for every share falling on the BSE.

Lupin gained 2 percent followed by Wipro, Reliance Industries, Coal India and Adani Ports.

Nifty Midcap gained 0.2 percent in early trade. Divis Labs, SREI Infrastructure, MRPL and Persistent Systems lost up to 5 percent.

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Friday, 21 July 2017

Equity Benchmarks Rebounded With Moderate Gains In Opening

Buy, Sell, Hold: Analysts are watching these 3 stocks today. Do you have them in your portfolio?

Equity benchmarks rebounded with moderate gains in opening on Friday, backed by Reliance Industries and Wipro after solid earnings performance.

The 30-share BSE Sensex was up 51.64 points at 31,956.04 and the 50-share NSE Nifty gained 11.80 points at 9,885.10.

Balaji Telefilms was up 5 percent as Reliance Industries picked up 24.9 percent stake in the company.

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Euro At Two Year High, Asian Shares Barely Budge


The euro held near two-year highs against the dollar on Friday after the head of the European Central Bank said tapering of its stimulus will be on the table this autumn, while a solid global economic outlook kept Asian share prices near decade highs.

While ECB President Mario Draghi set no date for changes to the bond-buying plan, investors took his comments as confirming their expectations that the discussions would lead to monetary tightening next year.

"Although bond markets didn't take his comments as something particularly new, the currency market liked the fact that Draghi confirmed his stance towards tapering," said Daisuke Uno, chief strategist at Sumitomo Mitsui Bank.

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