Monday, 30 April 2018

Wall Street Closed Nearly Flat On Friday As Inflation Worries And Struggling Technology

Wall Street closed nearly flat on Friday as inflation worries and struggling technology and energy stocks were offset by an advance in the consumer discretionary sector led by Amazon, said a Reuters report.

Asian shares rose again on Monday as tensions in the Korean Peninsula eased and first-quarter earnings shone, although some investors pondered whether this sunny outlook could dim in the near future, it said.

MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 0.1 percent following a jump of more than 1 percent on Friday. South Korea's KOSPI index .KS11 gained 0.5 percent.

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Benchmark Indices Opened Higher, Following Positive Asian Cues And After RBI Further

Benchmark indices opened higher, following positive Asian cues and after RBI further liberalised ECB policy.

The 30-share BSE Sensex was up 55.15 points at 35,024.85 and the 50-share NSE Nifty rose 23.60 points to 10,715.90.

Reliance Industries was down 1 percent after Q4 earnings. SBI, HDFC, HDFC Bank, Yes Bank, Bharti Airtel, Maruti Suzuki, Bajaj Auto, Wipro and Eicher Motors gained up to 1.5 percent.

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Friday, 27 April 2018

Equities Have Begun The Day On A Good Note, With The Sensex Rising Over 100 Points

Equities have begun the day on a good note, with the Sensex rising over 100 points, while the Nifty managed to open above 10,650-mark.

The Sensex is up 143.63 points at 34857.23, while the Nifty is up 56.20 points at 10674.00. The market breadth is positive as 333 shares advanced, against a decline of 171 shares declined, while 54 shares were unchanged.

Among stocks, Axis Bank took a hit of 3 percent in the first few minutes, after the bank reported dismal set of numbers for the March quarter as provisions trebled. Meanwhile, IDBI Bank is also trading lower by 4 percent after its ex-CMD has been booked in a fraud case.

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The Market Has Extended Its Gains From The Opening Minutes, With The Sensex Rising

The market has extended its gains from the opening minutes, with the Sensex rising over 250 points, while the Nifty has managed to clock 10,700 as well.

The market breadth strongly favoured the advances. Midcaps are trading strong, seeing gains of half a percent, but were underperforming the benchmarks.

All sectoral indices, barring IT, are trading in the green. Shares of Reliance Industries has crossed Rs 1,000 mark ahead of Q4 earnings. Meanwhile, Bharti Airtel and Wipro are the laggards in the morning trade, being the top losers on Sensex and Nifty.

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Thursday, 26 April 2018

Benchmark Indices Opened Flat On Thursday, The Expiry Day For April Derivative

Benchmark indices opened flat on Thursday, the expiry day for April derivative contracts.

The 30-share BSE Sensex was up 46.40 points at 34,547.67 and the 50-share NSE Nifty rose 5.40 points to 10,575.90.

Yes Bank gained half a percent and Axis Bank was down 0.75 percent ahead of earnings later in the day.

NIIT, M&M Financial, DHFL, Mindtree, Parag Milk Foods, Biocon, Rallis India and Tata Elxsi gained up to 3 percent.

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HDFC Bank Hikes Interest On FDs By Up To 1% ; Loans Could Get Costlier

HDFC Bank's move comes after the State Bank of India hiked rates of bulk deposits by up to 50 basis points in January.

The minutes of the Reserve Bank of India's last monetary policy committee meeting suggested that the central bank may be moving towards hiking its benchmark repo rate. Banks typically pre-empt this by hiking deposit rates first, and then increasing lending rates as their marginal cost of funding goes up.

At present, HDFC Bank has a deposit base of 7.9 lakh crore and enjoys a market share of 7 percent of the country’s bank deposits.

According to RBI data, bank deposits as of March 30, 2018 were at Rs 115 lakh crore, which witnessed a 6.7 percent rise over FY2017.

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Wednesday, 25 April 2018

Bharti Airtel Share Price Gained More Than 3 Percent After Reporting Profit

Bharti Airtel share price gained more than 3 percent after reporting profit against expectations of loss in the quarter ended March 2018.

Net profit fell 72.8 percent sequentially to Rs 83 crore and revenue declined 3.4 percent to Rs 19,634 crore in Q4FY18 while operating income slipped 7.3 percent to Rs 7,034 crore and margin contracted 150 basis points to 35.8 percent QoQ.

Fortis Healthcare gained a percent after KKR-backed Radiant Life Care made a revised bid for the company with a binding offer to acquire its Mulund hospital for an enterprise value of Rs 1,200 crore.

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Benchmark Indices Opened Lower, Tracking Negative Trend In Global Stocks.

Benchmark indices opened lower, tracking negative trend in global stocks.

The 30-share BSE Sensex was down 52.82 points at 34,563.82 and the 50-share NSE Nifty fell 21.10 points to 10,593.30.

Bharti Airtel, Bharti Infratel, HPCL, BPCL and Reliance Industries were early gainers. Hindalco, Cipla and HCL Technologies were under pressure.

ICICI Prudential, Raymond, Idea Cellular, Advanced Enzyme, Bajaj Corp, MMTC, Parag Milk Foods, Coffee Day, Jubilant Life, Avanti Feeds, Granule India, Gati, Jaiprakash Associates, Indiabulls Ventures and Trent gained up to 5 percent.

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Tuesday, 24 April 2018

The Rupee On Monday Ended At Its Lowest Level Against The Dollar

The Indian rupee recovered by 10 paise to 66.38 against the US dollar today. The rupee on Monday ended at its lowest level against the dollar since March 10, 2017, at 66.48.

Wall Street ended mixed on Monday as concerns about soft smartphone demand weighed on tech stocks and pulled the Nasdaq lower while earnings optimism protected against deeper losses, said a Reuters report.

Asian stocks recovered after morning losses, with the China's Shanghai Composite rising 2 percent and Hong Kong's Hang Seng rising 1.2 percent. Japan's Nikkei and Australia's ASX 200 gained more than half a percent each.

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Benchmark Indices Opened Higher, Following Positive Lead From Asian Stocks

Benchmark indices opened higher, following positive lead from Asian stocks.

The 30-share BSE Sensex was up 101.63 points at 34,552.40 and the 50-share NSE Nifty rose 14.20 points to 10,598.90.

Nalco, Hindalco Industries, Vedanta, JSPL, JSW Steel and SAIL fell up to 9 percent.

Tech Mahindra, BPCL and IOC were under pressure.

Bharti Infratel, Indiabulls Housing Finance, ONGC, Zee Entertainment, TCS and Yes Bank were early gainers.

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Monday, 23 April 2018

TCS Continued Its Run, Rising Nearly 3 Percent And Becoming The First Company

TCS continued its run, rising nearly 3 percent and becoming the first company to hit a USD 100 billion in market capitalisation.

The IT major has crossed even its competitor Accenture in market cap.

Indiabulls Housing Finance share price gained more than 2 percent after its Q4 consolidated net profit grew by 22.6 percent YoY to Rs 1,030.4 crore, revenue 25.9 percent to Rs 3,689.7 crore and net interest income rose 22.1 percent to Rs 1,661 crore.

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Benchmark Indices Were Off Their Opening Highs Amid Global Weakness

Benchmark indices were off their opening highs amid global weakness. Investors after digesting HDFC Bank numbers look for more corporate earnings to get further market direction.

The 30-share BSE Sensex was down 53.42 points at 34,362.16 and the 50-share NSE Nifty fell 9.10 points to 10,554.90.

ICICI Bank, Infosys, Bajaj Finance, SBI, Axis Bank, Adani Ports, Hero Motocorp and Bharti Airtel fell up to 2 percent while TCS, Reliance Industries, L&T, HDFC, Indiabulls Housing, IOC and HPCL were early gainers.

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Friday, 20 April 2018

TCS Is The Biggest Gainer Among Nifty50 Stocks After Reporting Healthy Growth

TCS is the biggest gainer among Nifty50 stocks after reporting healthy growth in quarterly earnings on Thursday, rising 3 percent.

The Tata Group firm has reported consolidated profit at Rs 6,904 crore for the quarter ended March 2018, registering a 5.7 percent growth compared to Rs 6,531 crore in previous quarter and 4.5 percent growth over year-ago period.

Consolidated revenue from operations for the quarter grew by 3.8 percent to Rs 32,075 crore on sequential basis, which was ahead of Reuters poll of Rs 31,669.2 crore.

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Benchmark Indices Opened Flat Amid Global Weakness And Higher Crude Oil Prices

Benchmark indices opened flat amid global weakness and higher crude oil prices.

The 30-share BSE Sensex was down 21.76 points at 34,405.53 and the 50-share NSE Nifty fell 11.90 points to 10,553.40.

Nifty Bank was down 0.41 percent while Nifty Midcap declined 60 points.

Eveready Industries and JB Chemicals were down up to 10 percent.

Mahindra CIE, Bharat Seats, Cyient gained up to 5 percent while Reliance Power fell 2 percent post March quarter earnings.

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Thursday, 19 April 2018

Tata Consultancy Services Is Scheduled To Report Its Earnings For The Quarter Ended

Tata Consultancy Services is scheduled to report its earnings for the quarter-ended March 31 post market hours on Thursday. All eyes are on India’s largest IT exporter after Infosys Q4 numbers failed to lift investor sentiment.

The stock has been an outperformer, rallying as much as 36 percent from Q4 FY17 to Q4 FY18 compared to a 16 percent rally seen in the Sensex, which is a bullish sign. 

The stock picked up momentum post its December quarter result and rallied during the second half of January to register a new high at Rs 3,259.05 on January 24.

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Equity Benchmarks Rebounded On Thursday After The Correction In Previous Session

Equity benchmarks rebounded on Thursday after the correction in previous session, following positive lead from global stocks.

The 30-share BSE Sensex was up 111.58 points at 34,443.26 and the 50-share NSE Nifty rose 41.20 points to 10,567.40.

Nifty Metal was up 1.6 percent as Hindalco, Vedanta, Nalco and Tata Steel rallied up to 5 percent on positive global metal prices. Nifty Midcap was up 75 points.

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Wednesday, 18 April 2018

The Rupee Weakened By Another 14 Paise, Nearing A Fresh Seven Month Low

The rupee weakened by another 14 paise, nearing a fresh seven-month low of 65.78, against the US dollar at the interbank forex market today on fresh demand for the greenback from importers and banks.

It recovered a bit to trade 7 paise down at 65.71 against the US dollar now.

Dealers attributed the rupee's persistent fall to increased demand for the US currency from importers and foreign fund outflows.

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Benchmark Indices Opened Higher On Wednesday Following Positive Lead

Benchmark indices opened higher on Wednesday, following positive lead from global stocks.

The 30-share BSE Sensex was up 105.17 points at 34,500.23 and the 50-share NSE Nifty rose 23.50 points to 10,572.20.

Vedanta, Tata Steel, Wipro, TCS, Yes Bank, Bharti Airtel, Adani Ports, Eicher Motors, UltraTech Cement and GAIL were early gainers.

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Tuesday, 17 April 2018

Cipla Informed Exchanges That The US FDA Conducted A Routine Current Good Manufacturing

Cipla informed exchanges that the US FDA conducted a routine current Good Manufacturing Practices audit at its Indore formulations facility during April 2-13.

"This was in the normal course of business. There were no data integrity and/or repeat observations. At this stage, the company believes the

observations are unlikely to have any material adverse impact," it said. The company will submit the response within the stipulated timeframe.

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Benchmark Indices Opened Mildly Higher Amid Positive Global Cues On Tuesday

Benchmark indices opened mildly higher amid positive global cues on Tuesday, continuing upmove for the ninth consecutive session.

The 30-share BSE Sensex was up 74.11 points at 34,379.54 and the 50-share NSE Nifty rose 21.00 points to 10,549.40.

NIfty Midcap gained 58 points. Power Grid, Hindalco, M&M, Adani Ports, Tata Steel, Vedanta, Tata Motors, L&T, Bajaj Finance and SBI and Sobha were early gainers.

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Monday, 16 April 2018

The Rupee Fell 20 Paise To 65.40 Against The US Dollar On Global Trade

The rupee fell 20 paise to 65.40 against the US dollar on global trade war concerns, dip in India's exports in March and a sharp drop in domestic equities.

Geopolitical tensions over Syria and trade war concerns weighed on the domestic unit. But, a weak dollar against major global currencies capped some losses, forex dealers said.

India's exports dipped by 0.66 percent to USD 29.11 billion in March, even as they increased by 9.78 percent for the full 2017-18 fiscal.

The rupee closed higher by 6 paise at 65.20 in the previous session on Friday on the back of positive macroeconomic data and firm local equities.

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Equity Benchmarks Opened Lower, With The Sensex Falling Below 34,000 Levels

Equity benchmarks opened lower, with the Sensex falling below 34,000 levels following negative lead from SGX Nifty futures and global stocks.

The 30-share BSE Sensex was down 229.59 points at 33,963.06 and the 50-share NSE Nifty fell 66.20 points to 10,414.40.

Infosys was down 4 percent after lowering of full year EBIT margin guidance.

Tech Mahindra, Wipro, Tata Motors, Axis Bank, IOC, Hindalco, Vedanta and ICICI Bank were under pressure in early trade.

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Friday, 13 April 2018

Reliance Industries Said It Executed Definitive Agreements To Acquire Majority

Reliance Industries said it executed definitive agreements to acquire majority shareholding constituting 72.69 percent from existing investors of Indiavidual Learning Pvt Ltd, a leading AI-based education platform leveraging data analytics to deliver personalized learning outcomes to each student.

Reliance has agreed to invest upto USD 180 million into Embibe, over the next three years.

Embibe will use the capital over the next three years towards deepening its R&D on AI in education, as well as business growth and geographic expansion, catering to students across K-12, higher education, professional skilling, vernacular languages and all curriculum categories across India and internationally.

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Benchmark Indices Extended Previous Day's Gains, Following Positive Lead

Benchmark indices extended previous day's gains, following positive lead from Wall Street and macro data, as investors await Infosys Q4 earnings due later in the day.

The 30-share BSE Sensex rose 107.15 points to 34,208.28 and the 50-share NSE Nifty gained 27.70 points at 10,486.40.

Vedanta, Hindalco, Dr Reddy's Labs, IOC, Kotak Mahindra Bank, TCS, Infosys, HCL Technologies and Axis Bank gained up to 2 percent.

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Thursday, 12 April 2018

The Market Continued To Consolidate Amid Sharp Spike Crude Oil Prices

The market continued to consolidate amid sharp spike crude oil prices, as investors look for corporate earnings that will being tomorrow and macro data due later in the day.

The 30-share BSE Sensex was up 54.97 points at 33,995.41 and the 50-sahre NSE Nifty rose 2.90 points to 10,420.10.

Brent crude oil hit 2014 highs of USD 73.09 a barrel in previous session, but cooled off a bit from that level to trade around USD 72.35 a barrel today.

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Benchmark Indices Opened Flat Amid Weak Global Cues And Spike In Crude Oil Prices

Benchmark indices opened flat amid weak global cues and spike in crude oil prices, as investors await corporate earnings and macro data.

The 30-share BSE Sensex was up 47.56 points at 33,988 while the 50-share NSE Nifty fell 17.40 points to 10,399.80.

HCL Technologies, TCS, Tech Mahindra, ONGC, Tata Motors, Bajaj Auto and Bharti Infratel were early gainers.

HPCL, BPCL and IOC fell up to 3 percent. Dr Reddy's Labs, Sun Pharma, ICICI Bank, Kotak Mahindra Bank and Alkem Labs were under pressure.

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Wednesday, 11 April 2018

Sun Pharma, One Of The Country's Largest Drug Makers, Has Received Approval

Sun Pharma, one of the country's largest drug makers, has received approval from the US Food and Drug Administration for Paliperidone tablets, which will be available in 1.5-9 mg strength.

Paliperidone is indicated for the treatment of Schizophrenia, amongst others. The 30-share BSE Sensex was down 20.68 points at 33,859.57 and the 50-share NSE Nifty fell 9.20 points to 10,393.10.

About 617 shares advanced against 563 declining shares on the BSE.

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Equity Benchmarks Extended Gains In Opening On Wednesday

Equity benchmarks extended gains in opening on Wednesday, following positive lead from Wall Street.

The 30-share BSE Sensex rose 90.78 points to 33,971.03 and the 50-share NSE Nifty gained 21.10 points at 10,423.40.

ICICI Bank, SBI and HDFC Bank were early losers while ONGC, Hindalco, Nalco, Tata Steel, Infosys, L&T, Dr Reddy's Labs and Titan Company gained.

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Tuesday, 10 April 2018

The Market Is Off Its Early High As Investors After Digesting China Comments Look

The market is off its early high as investors after digesting China comments look for March quarter earnings that will be kicked off by Infosys later in the week.

The Nifty is hovering around 10,400 levels while the Nifty Metal is the biggest gainer among sectoral indices.

ICICI Bank, Axis Bank, Reliance Industries, Infosys, metals stocks continued to support the market but selling pressure in HDFC twins and Tata Motors capped upside.

The 30-share BSE Sensex was up 76.34 points at 33,864.88 and the 50-share NSE Nifty rose 15.90 points to 10,395.30.

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The SBI Has Announced The Launch Of Its UK Subsidiary

The SBI has announced the launch of its UK subsidiary, SBI Limited, with an initial capital commitment of 225 million pounds from its parent entity.

India's largest state-owned bank, which celebrated the new subsidiary with a special event in London yesterday, becomes the first foreign bank in the UK to ringfence its retail division from its wholesale business.

SBI said that the ringfencing and subsidiarisation of the retail franchise SBI UK, the bank's largest overseas operation, offers UK customers "stability and reassurance" amidst continuing uncertainty around the UK's decision to leave the European Union.

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Monday, 9 April 2018

L&T Technology Services, A Leading Global Pure Play Engineering R&D Services Company

L&T Technology Services, a leading global pure-play engineering R&D services company, has signed an agreement with ExxonMobil Exploration Company, valued at more than USD 20 million in the first year.

“Combining our Hydrocarbon heritage, geospatial domain understanding and our digital engineering expertise, we are ideally positioned to help ExxonMobil in this initiative. Our solutions will provide geoscientists accelerated insights into their subsurface data. 

This in turn maximizes asset utilization, minimizes data pr eparationtime and reduces total cost of ownership,” said Dr Keshab Panda, CEO & Managing Director, L&T Technology Services Limited.

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Benchmark Indices Opened Mildly Higher On Monday

Benchmark indices opened mildly higher on Monday, tracking positive lead from Asian stocks.

The 30-share BSE Sensex rose 23.46 points to 33,650.43 and the 50-share NSE Nifty gained 3.20 points at 10,334.80.

Cipla, Titan Company, Yes Bank, Hindalco, Indiabulls Housing Finance, SBI, Bajaj Finance and Axis Bank were early gainers.

ICICI Bank fell more than 1.5 percent due to concerns related to top post.

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Friday, 6 April 2018

The Rupee Fell 5 Paise To 65.01 Against The US Dollar At The Interbank Foreign Exchange

The rupee fell 5 paise to 65.01 against the US dollar at the Interbank Foreign Exchange market.

Yesterday, the rupee had ended higher by 18 paise at 64.97 against the US dollar after the Reserve Bank lowered its inflation forecast and revised up its growth outlook.

Datamatics Global Services Corp said its step down subsidiary has acquired 75 percent stake in RJ Globus Solutions Inc, a voice based BPO company headquartered in Manila, Philippines.

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Benchmark Indices Started Off Last Day Of The Week On A Flat Note

Benchmark indices started off last day of the week on a flat note, following tepid Asian cues.

The 30-share BSE Sensex was down 7.48 points at 33,589.32 and the 50-share NSE Nifty fell 8.20 points to 10,317.

IOC, Indiabulls Housing, HCL Technologies, ONGC, Bajaj Finserv, GAIL and Yes Bank gained up to 1 percent.

SBI, Tata Steel, Vedanta and Tata Motors were under pressure. The Nifty Midcap index was down 0.1 percent.

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Wednesday, 4 April 2018

Tata Motors Share Price Rallied More Than 3 Percent After Jaguar Land Rover's

Tata Motors share price rallied more than 3 percent after Jaguar Land Rover's March US sales increased 10.2 percent to 14,232 units compared to 12,918 units sold in year-ago.

The growth was largely driven by Land Rover US sales that jumped 37.8 percent to 10,972 units, but Jaguar US sales fell 34.2 percent to 3,260 units YoY.

Nifty Midcap gained 13 points. Zensar Technologies, Akzo Nobel, IDBI Bank, Jet Airways, InterGlobe Aviation, Infibeam, Voltas, Pidilite Industries and VST Tillers gained up to 5 percent.

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Benchmark Indices Remained Rangebound After Opening Mildly Higher

Benchmark indices remained rangebound after opening mildly higher, with the Nifty hovering around 10,250 levels.

The 30-share BSE Sensex was up 17.29 points at 33,387.92 and the 50-share NSE Nifty fell 0.70 points to 10,244.30.

The broader markets outperformed frontliners, with the Nifty Midcap rising 0.4 percent and BSE Smallcap index up 0.75 percent on positive breadth.

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Tuesday, 3 April 2018

The Indian Rupee Gained In The Early Trade On Tuesday

The Indian rupee gained in the early trade on Tuesday. It has opened higher by 9 paise at 65.08 per dollar versus 65.17 Wednesday.

Gold prices rose slightly in early Asian trade on Tuesday after a more than 1 percent gain in the previous session, as mounting global trade tensions fuelled demand for the safe-haven bullion.

The SGX Nifty indicate a negative opening for the broader index in India, a fall of 52 points. The Nifty futures were trading around 10,212.5-level on the Singaporean Exchange.

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Asian Indices Are Trading In Red On The Back Of Escalating Trade

Asian indices are trading in red on the back of escalating trade spat between the United States and China and a renewed slump in tech shares such as Amazon.com sapped investor confidence.

The Japan's Nikkei and Shanghai Composite, Taiwan Weighted slipped 1 percent in today's trade.

The US markets slipped in Monday's trading on the back of drop in technology stocks on trade war worries.

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Monday, 2 April 2018

The Market Has Begun This New Financial Year On A Positive Note

The market has begun this new financial year on a positive note, with the Nifty trading above 10,100 in the opening tick, while the Sensex gained around 100 points and is hovering around those levels.

Among stocks, ICICI Bank is down around 4 percent, while Axis Bank is also trading lower by around 1 percent.

Canara Bank fell around 2 percent after it cancelled its stake sale in Can Fin Homes. The market also saw two debutants this morning—Sandhar Technologies and Karda Constructions.

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The Sensex Is Up 96.72 Points Or 0.29% At 33065.40, While The Nifty Is Up 41.90 Points

The Sensex is up 96.72 points or 0.29% at 33065.40, while the Nifty is up 41.90 points or 0.41% at 10155.60.

ICICI Bank is lower by over 3 percent on the back of negative developments around its CEO Chanda Kochchar, while Axis Bank is also trading lower by over 1 percent. A media reported said that the RBI has asked the lender to review Shikha Sharma’s tenure.

Among other stocks, Canara Bank is also trading lower by around 6 percent after it called off its stake sale in Can Fin Homes. GAIL, Vedanta, Maruti Suzuki and Tata Motors were trading in the green, while Titan was lower by half a percent.

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