Tuesday, 28 February 2017

Buy USDINR Target Of 67.10: Karvy

US dollar index is trading at 101.16,remained close to the 101 .00 mark for most of the trading session yesterday .

Weaker than expected pending home sales data made the dollar drop lower but a hawkish speech from FOMC voting member Kaplan gave a spring board to the US dollar. 

Markets would be focusing on Trump speech later in the day where he is expected to announce his infrastructure spending plans and an expansive fiscal policy could give the US dollar its required boost .

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Jio Prime Membership Opens On March 1: New Tariff Plans Revealed


Reliance Jio is all set to begin enrolling customers on to its Jio Prime membership plans from March 1, effectively offering 1 GB high-speed 4G data and free calls for Rs 10 a day for an year. 

The membership fee for Jio Prime will be Rs 99 per year. The unlimited free voice, free data offered in the 'Happy New Year' scheme will be available to Jio Prime members for another 12 months for a price of Rs 303 per month. 

Jio Prime members will also get the bouquet of Jio media services till March 31, 2018.

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Monday, 27 February 2017

Sensex Rangebound; Nifty Bank Under Pressure, Axis Drags

The market is witnessing strong inflows from domestic as well as foreign investors and will continue to trend higher, Gautam Trivedi, MD and CEO of Religare Capital, said.

"Inflows have been so strong that the earnings have taken a backseat when it comes to deciding the movement in the market."

The market is likely to correct if BJP loses state elections in Uttar Pradesh, he said, adding that the quantum of any such correction will depend on the nature of the loss. Nevertheless, even such a correction should be bought into, he said.

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Sensex Gains After Opening Flat, Nifty Eyes 8950; RIL Up 6%

The 30-share Sensex was up 59.74 points at 28952.71, while the Nifty was up 9.00 points at 8948.50. The market breadth was slightly narrow, with 1,150 shares have advanced, 781 shares having declined. 

Meanwhile, 122 shares remained unchanged. Reliance was an index-mover in early morning trade, with the stock soaring 6 percent intraday on Monday. 

The company touched a market capitalisation of Rs 4 lakh crore. The scrip also saw a big upgrade from Morgan Stanley. It increased the target price at Rs 1,506 from Rs 1,280 on the back of better than expected earnings.

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Thursday, 23 February 2017

Vodafone Confirms Merger Talks With Idea Cellular

"Vodafone confirms that it is in discussions with the Aditya Birla Group about an all share merger of Vodafone India and Idea. 

Any merger would be effected through the issue of new shares in Idea to Vodafone and would result in Vodafone deconsolidating Vodafone India," Vodafone said in a statement.
The combined entity would have 43 percent revenue market share and have a 40 percent active subscriber market share, according to brokerage firm CLSA. 

The merged entity would account for over 25% of allocated spectrum and will have to sell about 1 percent to comply with spectrum cap norms, CLSA said.

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Nifty hovers around 8950; Sensex higher on IT, telecom support



Bharti Airtel rose 10 percent intraday after it announced the acquisition of Telenor India. 

Meanwhile, Idea Cellular rose around 8 percent after media reports indicated that Japanese fund SoftBank may buy some stake in the merged entity. 

TCS and Infosys gained strength after sell-off in previous session, up 1-2 percent whereas ICICI Bank, ITC, Axis Bank, Tata Motors and Maruti Suzuki were under pressure.

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Wednesday, 22 February 2017

Private Banks May Have Shown Interest In Axis Bank


Axis Bank was in the news on February 21 when CNBC-TV18 reported that Kotak Mahindra Bank had informally approached the government for a merger. 

Following this, other private players also threw their hat in the ring and had asked the government for a competitive bidding field. 

Based on the reactions, the stock soared 5 percent in late trading hours on Tuesday. Morgan Stanley feels that the lender could have seen interest from private banks based on its retail deposit franchise, but concerns on its profitability remain as well.

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After TCS, HCL Tech Could Eye Share Buyback

After Tata Consultancy Services humongous Rs 16,000 crore share buyback, it could now be the turn of its only large rival from the north the Noida headquartered HCL Technologies to undertake a similar exercise.

HCL Technologies shareholders will have to approve the buyback proposal once it has gone through the Board. HCL had cash and cash equivalent of Rs 2,214.5 crore as on December 31 besides fixed deposits of Rs 10,506.9 crore. 

The company has an equity base of 1.41 billion shares and has paid out dividends for the last 56 consecutive quarters. "Of course, it won't be the size of TCS buyback," he further said.

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Tuesday, 21 February 2017

Sensex Off Day's High; Bharti Slips 2%, JSPL Top Midcap Gainer

ITC and Bharti Airtel were top losers among Sensex stocks, down 1-2 percent followed by HDFC Bank, Jindal Steel retained its top position in buying list among midcap stocks, up 8 percent in addition to 8 percent rally in previous session.

M&M, Maruti, HDFC and Infosys. Jindal Steel retained its top position in buying list among midcap stocks, up 8 percent in addition to 8 percent rally in previous session. 

US crude futures rose for a second day today, with data showing hedge funds are betting big across oil markets following OPEC production cuts agreed last year. US West Texas Intermediate crude was up 0.47 percent at USD 53.65 a barrel.

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Sensex, Nifty Consolidate; Midcap Outperforms; ITC Dips

The 30-share BSE Sensex was down 43.70 points at 28617.88 and the 50-share NSE Nifty fell 8.80 points to 8870.40. About 1339 shares advanced against 910 declining shares on the BSE.

During a week of discussions with investors in Asia, the overwhelming mood was caution, with the emphasis on what could go wrong as opposed to what could propel markets higher, he says. 

The irony is that the performance and positioning data suggest the average portfolio would benefit rather than be hurt by market downside, he feels. President Trump, a US border tax, the USD, China and Europe featured prominently in discussions, Rosgen says.

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Monday, 20 February 2017

Tata Consultancy Services Board Will Be Meeting Today To Consider A Buyback

Tata Consultancy Services' Board will be meeting today to consider a buyback. The company's networth stands at USD 12.4 billion.

According to buyback rules, if TCS wants to avoid a shareholder nod, it can opt for a 10 percent buyback of shares which would be around USD 1.24 billion. With a shareholder approval, the company can go up to a 25 percent share buyback which will be USD 3.1 billion.

A 25 percent buyback would not be difficult for the company, whose cash on books currently is at Rs 43,169 crore. 

Promoters of the company, who hold around 73.3 percent stake, are likely to participate in the buyback. If they don't, their total holding will cross the 75 percent mark, which is against Sebi rules.

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Sensex, Nifty Turn Positive After Weak Opening; Bharti, Idea Up


The Sensex was up 29.82 points at 28498.57 and the Nifty gained 10 points at 8831.70. The market breadth was strong as about two shares advanced for every share falling on the BSE.

Bharti Airtel, GAIL and TCS were the top gainers on the BSE, while HDFC, ITC and Maruti Suzuki were the top losers. 

Meanwhile, telecom stocks such as Idea Cellular and Bharti Airtel ruled the Nifty's top gainers list, while Hindalco, HDFC and Yes Bank were top losers.

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Friday, 17 February 2017

HDFC Group Stocks Continued To Support The Market

Benchmark indices erased some early gains on account of selling pressure in technology and FMCG stocks. HDFC Group stocks continued to support the market. 

The 30-share BSE Sensex gained 178.59 points at 28479.86 and the 50-share NSE Nifty rose 42.90 points to 8820.90 despite mixed Asian cues. 

The broader markets also came off day's high, with the BSE Midcap and Smallcap indices rising 0.4 percent each on positive breadth. About 1209 shares advanced against 744 declining shares on the exchange.

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Sensex Off Day's High; Nifty Bank Hits Record High ; Infosys Dips

The recent strife at Infosys raises many question marks and is a cause for concern, said Hugh Young, Managing Director of Aberdeen Asset Management-Asia, one of the largest foreign institutional investors in Indian markets. 

Young said that the conflict between the Infosys founders and the software major’s board over corporate governance and severance payments to former top executives was not particularly healthy. 

Young said the news that Infosys’s peer TCS was mulling a buyback of shares was good news as it has a strong balance sheet and surplus cash, adding that other IT companies may follow suit.

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Thursday, 16 February 2017

Sundaram MF CIO: Market Has 'Emerged Unscathed' From Demonetisation


The stock market has digested most of the news post demonetisation and emerged relatively unscathed, says S Krishna Kumar, CIO Equity at Sundaram Mutual Fund. 

Going forward, a broad-based economic recovery is setting in and investors should buy every dip, the fund manager told CNBC-TV18 in an interview. 

He added that some sectors like metals and energy are now gaining traction and others like chemicals, agrochem even as others such as automobiles continue to do well. 

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The BSE Midcap And Smallcap Indices Gained Half A Percent Each


The BSE Midcap and Smallcap indices gained half a percent each on positive breadth. About 1376 shares advanced against 877 declining shares on the BSE. 

Infosys was the top contributor to Sensex's gains, up 1.5 percent on hopes of share buyback from the company.

TCS today morning announced that it will consider share buyback on February 20. Sun Pharma was the biggest gainer among Sensex stocks, up 2.7 percent. 

The company has received tentative approval from the US Food & Drug Administration for Tadalafil tablets that are used to treat erectile dysfunction & arterial hypertension.

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Wednesday, 15 February 2017

Nifty Consistently Struggling Below 8800 Level As Investors Shifted


Benchmark indices as well as broader markets were moderately under pressure amid consolidation, with the Nifty consistently struggling below 8800 level as investors shifted their focus to states elections from earnings. 

Assembly elections in five states will end on March 8 and results will be announced on March 11. The 30-share BSE Sensex was down 47.66 points at 28291.65 and the 50-share NSE Nifty fell 7.70 points to 8784.60. 

About 1207 shares declined against 848 advancing shares on the BSE. Market valuations are slightly beyond comfort and with no big macro events lined up, a runaway rally is unlikely, says Mahesh Patil of Birla Sun Life AMC.

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Tata Motors Q3 Profit Tanks 96% On Weak JLR Operational

Tata Motors third quarter profit on consolidated basis fell sharply by 96 percent year-on-year to Rs 112 crore, impacted by big loss in domestic business and operational weakness in JLR. 

The stock lost 7.66 percent in late trade, before closing 4.6 percent down at Rs 482.05 on the BSE. Revenue during the quarter declined 4.3 percent to Rs 68,541 crore compared with Rs 71,616 crore in year-ago quarter. 

Lower wholesale volumes & relatively weaker product mix in JLR and degrowth in commercial vehicle business due to demonetisation hit topline growth despite JLR's retail sales growth of 8.5 percent.

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Tuesday, 14 February 2017

Sensex, Nifty Choppy; Midcap Underperforms; Oil Stocks Rally

Oil stocks rallied today, with Reliance Industries, ONGC and GAIL rising 1.6-2 percent. Adani Ports climbed 1.5 percent ahead of Q3 earnings. HUL lost 1.5 percent despite Bank of America Merrill Lynch maintained a buy call on the stock, with target price at Rs 1,000. 

The research firm says demonetisation-led impact on domestic sales is waning quickly and it is positive about emerging prospects and hence margin goals restated. 

Gold prices firmed as investors turned their attention to testimony from US Federal Reserve Chair Janet Yellen later in the day for hints on the central bank's interest rate strategy.

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Sun TV Gained 3 Percent And Raj TV Surged 10 Percent


Sun TV gained 3 percent and Raj TV surged 10 percent after Sasikala's hopes to become a chief minister of Tamil Nadu dashed by Superme Court verdict.


Supreme Court has convicted her in disproportionate asset case and sentenced her to 4 years of imprisonment. 

The court has imposed fine of Rs 10 crore on Sasikala. Conviction in DA case has barred Sasikala from contesting elections for 6 years.

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The BSE Sensex Was Down 24.32 Points And The 50 Share NSE Nifty Declined 11.75 Points


Benchmark indices as well as broader markets were moderately lower amid consolidation in morning as investors awaited last batch of corporate earnings and then focus will be shifted to assembly elections in five states that started last week.


The 30-share BSE Sensex was down 24.32 points at 28327.30 and the 50-share NSE Nifty declined 11.75 points to 8793.30. About 1129 shares fell against 851 advancing shares on the BSE. 

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Monday, 13 February 2017

Infosys Live Updates: Have Not 'Withdrawn Concerns' Over Governance

Infosys shares, which were up about a percent in early trade, have given back some gains after Murthy's statement to CNBC-TV18.
Meanwhile, CNBC-TV18 has spoken to NR Narayana Murthy on reports floating around this morning indicating that a truce was in sight.
An analyst talks about Infosys' 2020 growth plan, and asks Sikka whether he feels confident of achieving it, especially given the "media noise" over its capital allocation strategy.
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The Strength Of The US Dollar Will Decide The Fate Of The Emerging Markets

The strength of the US dollar will decide the fate of the emerging markets, said Sanjeev Prasad of Kotak Institutional Equities. “What matters for the emerging markets is where the US dollar is going.
Over the last one month, starting from end of December to early part of February, you had fairly sustained weakness in the US Dollar after it peaked at around 104, it came down to below 100 levels,” he said.

He said dollar will strengthen even further from the current levels. Fed may hike rates at least twice this year if not thrice resulting in further strengthening of dollar and bond yields moving up.
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Sensex Lower, Nifty Breaks 8800 Despite Positive Asian Cues

Asian markets remained in positive territory, taking a cue from the US last week after markets climbed to new high on improved risk appetite as investors shook off geopolitical concerns over North Korea's weekend ballistic missile test.

Economic data in the region has also been relatively buoyant, with Japan's economy expanding for the fourth straight quarter at an annualized rate of 1.0 percent in October to December period, supported by solid exports and capital expenditure.

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Friday, 10 February 2017

Sensex, Nifty Consolidate Ahead Of SBI Q3 Nos; BoB Rises Over 2%

Bank of Baroda is likely turn profitable in Q3, with net income at Rs 620 crore against loss of Rs 3,342 crore in year-ago quarter. The stock rallied nearly 3 percent.

The 30-share BSE Sensex was up 27.75 points at 28357.45 and the 50-share NSE Nifty gained 16.75 points at 8795.15. About 1344 shares advanced against 1012 declining shares on the BSE. 

Krishna Kumar Karwa of Emkay Global Financial Services says the results season has been good so far, and the markets were currently taking a breather. 

He feels it appeared that the worst effects of last November's note ban were over and there was trend of savings being converted into financial savings.
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Infosys Denies Governance Lapses, Rift Between Founders, Board

Infosys has maintained that all decisions were made "in the overall interest of the company" and that it has made "full disclosures" on all developments. 

However, Infosys' former chief financial officer T V Mohandas Pai has recently said the board should give a detailed answer and not take shelter under "bland" statement that decisions were taken in the interest of the company, which further added to the speculations. 

Defending the board, Infosys today said its team is independent and professional. "The independent directors have no interest other than their commitment to enable this great institution that has been assiduously built by the iconic founders to succeed," it added.
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Thursday, 9 February 2017

The Performance Of Indian Stock Market Should Be Looked At Not Just In Isolation

The performance of Indian stock market should be looked at not just in isolation but also in the context of how emerging markets are doing, said Anup Maheshwari, Executive Vice President of DSP BlackRock Investment.

In an interview with CNBC-TV18, Maheshwari talked about the RBI's monetary policy decision yesterday, which he termed, surprising and its implications for the market. 

On the investing outlook, the noted fund manager said at a sector level, only the beaten-down IT and pharma spaces offered value but added that a stock level, one could find great opportunities in retail banks, NBFCs, two wheeler companies and the agri space.

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Reliance Industries And HDFC Continued To Support The Market

Benchmark indices wiped out early gains on account of profit booking in banks, FMCG and infra stocks. Index heavyweights Infosys, Reliance Industries and HDFC continued to support the market. Investors awaited corporate earnings, especially SBI numbers to check asset quality performance. 

The 30-share BSE Sensex was down 68.47 points at 28221.45 and the 50-share NSE Nifty fell 27 points to 8742.05. The market breadth also turned negative as about 1259 shares declined against 1118 advancing shares on the BSE. 

Bharat Iyer of JPMorgan expects a phase of consolidation in the equity markets near term. A pick-up in growth over second half of FY17 should, however, pave the way for sustainable returns, he believes while maintaining a year-end Nifty target range of 9,300-9,600.

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Wednesday, 8 February 2017

Nifty Choppy As Investors Await Cues From Monetary Policy

Havells India, so far a creator of fans, LEDs and switches, will invasion into advertising of infant care items by end of June. 

As a little stride, it has declared the dispatch of child hair scissors. Today's declaration at a press meet takes after the organization's entrance into the individual prepping market. 

With the dispatch of electric shavers, facial hair trimmers, hair straighteners and dryers in Rs 1,000-Rs 7200 territory, the organization means to earn a 25 percent piece of the overall industry in 3 years.

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The 50 Share NSE Nifty Gained 0.15 Points At 8768.45

The 30-share BSE Sensex was down 29.96 points at 28305.20 and the 50-share NSE Nifty gained 0.15 points at 8768.45. About 1446 shares advanced against 1112 declining shares on the BSE.

Earnings growth this quarter might remain soft, but investors are in the mood to invest and there is palpable optimism around India, said Rashesh Shah of Edelweiss Financial. 

Corporate India has managed to limit the impact of demonetisation by trimming discretionary expenditure, he said. 

HDFC Bank, Tata Motors, TCS, M&M, Wipro and Cipla gained 0.5-1.5 percent while ITC, Infosys, Axis Bank, ICICI Bank, HDFC and L&T were under pressure.

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Tuesday, 7 February 2017

Sensex Lower Amid Consolidation As Investors Await RBI Policy

The proposed merger of state-owned oil companies could reduce inefficiencies across the sector and create an entity better placed to compete globally for resources, Fitch Ratings said today.

"However, a merger would face significant execution challenges, particularly in terms of managing the integration of employees, addressing overcapacity in the merged entity, and winning the backing for the merger from private shareholders," the rating agency said in a statement.

More than 12 years after a proposal to merge oil PSUs was first mooted by the then Oil Minister Mani Shankar Aiyar, Finance Minister Arun Jaitley in his Budget for 2017-18 last week, proposed to "create an integrated public sector 'oil major' which will be able to match the performance of international and domestic private sector oil and gas companies.

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RBI May Peg 6.2% GDP After Budget Nudge

In the Budget documents, however, the government has assumed a nominal GDP growth rate of 11 percent 90 basis points lower than the CSO estimates. 

Clearly, ceteris paribus or other things remaining equal, an 11 percent nominal GDP growth in 2016-17 could effectively translate into a real GDP growth rate of about 6.2 percent.

Amid signs of slide in consumer goods sales and muted investment activity because of the cash crunch, it is highly likely that the CSO will sharply revise downwards India’s GDP growth in its first provisional figures in May as the advanced estimates were based on incomplete corporate income and factory output data.

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Monday, 6 February 2017

Correction Around The Corner, Use It To Buy: Market Strategist

One of Wall Street's greatest bulls is waving the white banner on the continuous US securities exchange rally and conveyed a startling message for financial specialists: A close term tempest is not too far off for stocks. 

Lee, who fills in as head of research for Fundstrat Global Advisors, as of late declared his association's 2017 S&P 500 year-end value focus of 2,275, which is roughly 1 percent beneath momentum levels. 
The market watcher communicated worry over esteem stocks getting off to a frail begin this year. "I believe it's conceivable that will have an uneven first half," Tom Lee clarified on CNBC's "Prospects Now" Thursday. "It won't be a straight shot upward for stocks. The primary half, will have a draw-around 5 percent."

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The Sensex Rising Over 150 Points Supported By Banking & Financials

The Sensex ascending more than 150 focuses bolstered by managing an account and financials in front of RBI money related arrangement later in the week.
The 30-share BSE Sensex was up 180.44 points or 0.64 percent at 28420.96 and the 50-share NSE Nifty rose 52.60 points or 0.60 percent to 8793.55. Dipen Shah of Kotak Securities says proceeding, the staying quarterly outcomes will be imperative to decide the effect of demonetisation.
Center will now move to the RBI meeting this week wherein desires of loan fee cuts have expanded, after the Finance Minister set the financial shortfall focus at 3.2%, he feels.

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Friday, 3 February 2017

NSE Investors Will Be Celebrating The BSE Listing

Around 90 percent of the joined volume in the two trades happens in the record and value subordinate fragments. Inside the value section, subsidiaries volume is 14 times that of money fragment. NSE is an unmistakable pioneer here catching all the volume in this space.
BSE tried to make an imprint by propelling the liquidity improvement impetus programs yet met with little achievement and the program is currently being ended up following 5 years of its dispatch. In the money section, BSE's share is a pitiful 14 percent.
In spite of having 5,911 organizations recorded on BSE when contrasted with 1,808 on NSE, volume is higher on the NSE. This is on the grounds that almost 66% of the volume is in the main 50 stocks, which are normal to both the trades. With regards to unadulterated size of business, NSE wins without a doubt.

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Sensex Volatile; Cipla & Bank of Baroda Gain 3%, Glenmark Up 4%

Sun TV Network mobilized encourage, up 26 percent as financier houses raised target cost on the stock after unique 2G court cleared charges on previous Telecom Minister Dayanidhi Maran and his sibling and leader of the organization Kalanidhi Maran, in Aircel-Maxis case and with this, there was end to long-standing lawful shade on stock. CLSA has updated the stock to purchase from offer and raised target cost to Rs 661 from Rs 438.

BSE offers surged as much as 49 percent to touch an intraday high of Rs 1,200 subsequent to opening at Rs 1085 on the National Stock Exchange, up 35 percent over issue cost of Rs 806. Adani Ports, SBI, Cipla, Sun Pharma and BHEL were best gainers among Sensex stocks, up 1-3 percent while ICICI Bank and Infosys fell 1-2 percent.

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Thursday, 2 February 2017

Budget 2017: Modi-Jaitley Star As Sherlock-Watson As Newspapers React


A day after Arun Jaitley displayed the Union Budget 2017-18, the nation's significant daily papers were to a great extent in assention that the Finance Minister had not drawn out the firecrackers, avoiding any risk and finishing what has been started in his fourth full Budget.

Financial plan expressed that Finance Minister Arun Jaitley set purchasers before unbending monetary train as he spelt out a precisely made arrangement to lift individuals' spending power, make employments and enhance provincial salaries, blending welfare financial matters with another rush of changes. 

He offered the most to those at the least compensation section, ranchers and private companies, which persevered through the demonetisation stun and could likewise impact the result in five forthcoming get together races.

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The Sensex Is Up 28.36 Points At 28170.00, And The Nifty Up 1.05 Points At 8717.45

The market keeps on being rangebound after a stellar rally post Finance Minister Arun Jaitley's Union Budget discourse. The Sensex is up 28.36 focuses at 28170.00, and the Nifty up 1.05 focuses at 8717.45. Around 1120 shares have progressed, 717 shares declined, and 90 shares are unaltered.
ITC, Bharti, NTPC, ICICI Bank and ONGC are beat gainers while M&M, Tata Motors, Wipro, GAIL and HDFC are failures in the Sensex. Ridham Desai, Head of India Equity Research and India Equity Strategist, Morgan Stanley said there was an upside ascend to worldwide development this year and that the length of worldwide components stay steady, India would be alright.
He said that India was really failing to meet expectations in examination its developing markets, particularly when worldwide development is on the rise.

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Wednesday, 1 February 2017

Sensex, Nifty open flat on Budget day; SBI, Adani Ports, Hero Moto and Wipro are Gainers

The Sensex is up 16.91 points at 27672.87 and the Nifty is up 8.20 points at 8569.50. About 166 shares have advanced, 66 shares declined, and 79 shares are unchanged. Lupin, SBI, Adani Ports, Hero Moto and Wipro are gainers while ICICI Bank, Infosys, TCS and Sun Pharma are losers in the Sensex. The Indian rupee gained in the opening trade. It has opened higher by 22 paise at 67.65 per dollar against previous close 67.87.
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Budget 2017: Mkt Unlikely To See Lasting Impact Of Budget, Says Chris Roberts

Image result for budget 2017

The Budget is not likely to have lasting impact on the index, trusts Chris Roberts of Asianomics Group. The current uptrend will generally proceed with independent of the Budget result. Addressing CNBC-TV18, he said that drawback for the market is restricted and it is probably not going to draw near to 7900 check.

India could likewise test 9000 this year and move onto 10,000-10,300 level in the long run. The developing markets are seeing more premium at this point. James Sullivan, Managing Director-Asia Equity Research, JPMorgan is of the view the legislature may take a gander at moving monetary shortfall to 3.3 percent as they need to fortify the economy. As indicated by him, by and large the economy has weathered the demonetisation much superior to anticipated.

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