Wednesday, 16 August 2017

The Indian Rupee Slipped In The Early Trade On Wednesday

The Indian rupee slipped in the early trade on Wednesday. It has opened lower by 16 paise at 64.28 per dollar versus 64.12 Monday.

Pramit Brahmbhatt of Veracity said, "Encouraging US economic data and FII outflows will help the dollar appreciate. We expect the USD-INR to trade in a range of 64-64.50 for the day."

The US dollar strengthened after economic data, including July retail sales, beat expectations and cast the economy in a relatively favourable light.

Among global markets, Asian shares were mostly higher in early trade as investors digested earnings releases from regional corporates and a resurgent dollar.

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Equity Benchmarks Continued With Its Positive Momentum

Equity benchmarks continued with its positive momentum from the previous session and opened on a good note, with the Nifty reclaiming 9800-mark.

At 9:16 am, the Sensex was up 77.14 points at 31526.17, while the Nifty rose 23.05 points at 9817.20. The market breadth was positive as 626 shares advanced against a decline of 186 shares, while 27 shares were unchanged.

Midcaps were back in favour as they outperformed the benchmarks, while other gainers included FMCG, auto stocks and metals.

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Monday, 14 August 2017

Nifty Midcap Was Up 1.5 Percent On Strong Market Breadth

Nifty Midcap was up 1.5 percent on strong market breadth. About five shares advanced for every share falling on the NSE.

Suzlon Energy, CESC, BEML, Adani Ports, DLF, Sun TV, CG Power, JP Associates, GVK Power, GMR Infra, Techno Electric, Voltamp Transformers and Mercator surged up to 7 percent.

Shares of Suzlon Energy added 10 percent intraday as the company turned profitable in the quarter ended June 2017.

The company has reported net profit of Rs 63.7 crore in the quarter ended June 2017 against the loss of Rs 257 crore, in the same quarter last fiscal.

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Sensex Rises 200 Pts, Nifty Eyes 9,800; Midcap Outperforms

Benchmark indices remained strong in morning trade as the Sensex was up 219.35 points at 31,432.94 and the Nifty rose 70.95 points to 9,781.75.

More than four shares advanced for every share falling on the BSE. Aditya Narain of Edelweiss said the research house sees the market at 11,100 in June 2018.

"Our preferred themes would be the savings shift, consumer discretionary step-up, lower rates and India build / process capex," he said, adding overweights are banks & financials, consumer discretionary/durables, cement & construction.

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Friday, 11 August 2017

The Dollar Extended Losses Against The Yen To Hit A New Two Month Low

The dollar extended losses against the yen to hit a new two-month low. It was down 0.1 percent at 109.07 yen, after retreating 0.8 percent on Thursday.

Japan is the world's biggest creditor country and there is an assumption that investors there will repatriate funds in a crisis.

Weakness in US Treasury yields may also be supporting the yen, some analysts said.

US Treasury yields fell to as low as 2.197 percent, their lowest level since June 28 overnight. They were at 2.201 percent early on Friday.

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Sensex Slumps 300 Pts, Nifty Holds 9700; Cochin Shipyard Surges 22%

Shares of J Kumar Infraprojects and Prakash Industries were locked at 20 percent lower circuit in the opening trade on Friday.

These shares traded for the first time today after they were banned for trading on SEBI order since Tuesday.

On Thursday evening, the Securities and Appellate Tribunal has stayed SEBI's order against J Kumar Infra & Prakash Industries, which were among the 331 companies that the market regulator had suspected as 'shell' companies.

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Thursday, 10 August 2017

Nifty Has Strong Support At 9850; 4 Stocks Which Can Give Up To 26% Return

The Nifty formed a smaller bear candle which maintained a lower high lower low compared to the previous session as the index extended losses for the third consecutive session.

The index has taken a breather on expected lines as the five-week strong rally of over 7 percent since June 2017 lows pushed the weekly momentum oscillators into overbought zone.

Historically, since 2013 it has been observed that the index has not formed more than five consecutive bull candles on a weekly scale.

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Asia Stocks Steady, Treasury Prices Off Highs As Risk Aversion Settles

Asian stocks steadied and US Treasury bond prices fell slightly on Thursday as the risk aversion triggered by the latest flare up of tensions between the United States and North Korea began to settle.

MSCI's broadest index of Asia-Pacific shares outside Japan stood little changed after dropping 0.6 percent the previous day.

Japan's Nikkei rose 0.2 percent and Australian shares gained 0.1 percent. South Korea's KOSPI was little changed.

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Wednesday, 9 August 2017

Sensex Opens Below 32000, Nifty Breaks 9950 On Weak Asian Cues

In the Nifty 50, out of the 35 companies that came out with results, 34 percent of them beat estimates while 37 percent missed estimates, Singh said.

Shares of PVR rose more than 1 percent in early trade on the back of stake sale in its joint venture company.

The company in its meeting held on August 8 has approved sale of its 51 percent stake in PVR bluO Entertainment.

PVR bluO Entertainment is a joint venture between PVR and Major Cineplex group of Thailand in which PVR owns 51 percent stake with balance 49 percent stake held by Major group.

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Wall Street Swings Lower After Trump Warns North Korea

US stocks closed lower on Tuesday after a late afternoon selling spree as investors fled for safety after US President Donald Trump vowed to respond aggressively to any threats from North Korea.

After scaling back from record highs earlier in the session, Wall Street's three major indexes dipped after Trump said North Korea "will be met with fire and fury" like the world has never seen if it threatens the United States.

"Trump's response was aggressive and that's why the market turned lower," said Ken Polcari, Director of the NYSE floor division at O'Neil Securities.

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Tuesday, 8 August 2017

Sensex Rebounds, Nifty Eyes 10,100; Tata Steel, JSPL Gain

Shares of Dr Lal PathLabs gained 3.3 percent intraday on the back of strong June quarter numbers and on acquisition of company in Bangladesh.

The company has registered 11 percent increase in its consolidated net profit to Rs 44.4 crore for the quarter ended June 30 against net profit of Rs 40 crore in the same quarter last year.

The total income of the company was up 12 percent at Rs 256.8 crore versus Rs 229.2 crore.

The company in its board meeting held on August 07 has approved the acquisition of a company in Bangladesh named Dr Lal PathLabs Bangladesh.

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Stocks, Commodities Buoyed By Growth Optimism, China Trade Data Awaited

Asian shares neared decade peaks on Tuesday thanks to optimism on the global economy and a rash of records on Wall Street, while major currencies were becalmed ahead of Chinese trade data.

MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.2 percent and to within a whisker of its recent high.

South Korea's market rose 0.4 percent while in Japan, the broad TOPIX held near its highest in two years and the Nikkei was flat.

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Monday, 7 August 2017

Asia Markets Were Mostly Higher, With Investors' Risk Sentiment

L&T Finance Holdings, Jaiprakash Associates, Sarda Energy, Apollo Tyres, Bhushan Steel, Wockhardt, Sintex, Eros International, Cadila Healthcare and Torrent Power rallied up to 10 percent.

Repco Home Finance, GSFC, HPCL and SPARC were down up to 5 percent.

Asia markets were mostly higher, with investors' risk sentiment likely improving from Friday's better-than-expected US jobs number as they await to hear Pyongyang's response to UN sanctions over the weekend.

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Sensex Erases Opening Gains, Nifty Holds 10,050; Midcap Outperforms

Equity benchmarks erased early gains, with the Sensex down 27.38 points at 32,298.03 and the Nifty down 3.45 points at 10,062.95.

TCS, Infosys, HUL, Reliance Industries, HCL Technologies, Yes Bank and ONGC were under pressure while ICICI Bank, Tata Steel, Maruti Suzuki, Hero Motocorp and Vedanta gained strength.

The broader markets outperformed benchmarks, with the BSE Midcap and Smallcap indices rising half a percent each. About two shares advanced for every share falling on the BSE.

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Friday, 4 August 2017

Nifty Breaks 10,000 In Opening, Sensex Lower; Biocon Plunges 6%

Shares of Ramco Systems and Kokuyo Camlin slipped 4 percent and 8 percent, respectively intraday as the companies have reported loss in the quarter ended June 2017.

Ramco Systems has reported net loss of Rs 3 crore in the quarter ended June 2017 against profit of Rs 8.8 crore, reported in the same quarter last year.

Revenue of the company was at Rs 110.3 crore versus Rs 109.7 crore. Kokuyo Camlin has posted Q1 net loss at Rs 1.25 crore versus profit of Rs 4.7 crore, in a year ago period.

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Nifty Midcap Was Down 0.3 Percent, Dragged By Pharma Stocks

Nifty Midcap was down 0.3 percent, dragged by pharma stocks. Cadila Healthcare, Strides, Torrent Pharma, Glenmark Pharma, MRF, Shree Pushkar, Titan, Kokoyu and Apollo Tyres fell up to 4 percent.

Ceat and Ujjivan Financial lost up to 7 percent post Q1 earnings while PNB Housing Finance gained 7 percent.

Asian markets wavered, after US stocks were dented overnight by a report that the special counsel investigation into Trump and his campaign was intensifying. Japan's Nikkei was down 0.4 percent while China's Shanghai gained 0.2 percent.

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Thursday, 3 August 2017

Nifty Bank Slips Below 25,000 As Stocks Bleed Further Post RBI Policy

Nifty Bank slipped below 25,000-mark as banking stocks fell further in morning trade Thursday after the Reserve Bank of India expectedly cut repo rate by 25 basis points to 6 percent on Wednesday.

The news already seems priced into stock prices, hence the reason for fall in banks could be profit booking.

The Nifty Bank index was down 202 points or 0.81 percent at 24,852.70, at 9:45 hours IST.

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Sensex, Nifty Extend Losses In Opening; Banks Stocks Fall Again

Nifty Bank lost 0.5 percent. UCO Bank, Union Bank of India, Canara Bank, Bank of India and Allahabad Bank lost up to 3 percent.

HEG, ENIL, Godrej Consumer Products, Colgate, Emami, Voltas and Marico fell up to 3 percent.

Bata India was up 3.4 percent after earnings. Sical Logistics and TBZ also gained up to 3 percent.

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Wednesday, 2 August 2017

Indices Trim Gains From Opening Tick, Nifty Flat; Hero Moto Up 2%

Benchmark indices trimmed most of its gains from the opening tick, with the Sensex trading almost one-tenth of a percent higher, while the Nifty turned red.

The Sensex was up 30.72 points at 32605.89, while the Nifty was down 2.15 points at 10112.50. The market breadth began narrowing as 958 shares advanced against a decline of 549 shares, while 83 shares were unchanged.

NTPC and Hero MotoCorp were the top gainers, while ONGC, Kotak Mahindra Bank and ACC lost the most.

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JSW Steel Declined Over 2 Percent Intraday On Wednesday

JSW Steel declined over 2 percent intraday on Wednesday as investors turned cautious of the stock post the company’s Q1 performance.

The company’s profit in the first quarter fell by 43 percent to Rs 624 crore compared with Rs 1,096 crore in same quarter last year.

However, revenue during the quarter increased sharply by 24 percent to Rs 15,977 crore, with crude steel production up 1 percent at 3.91 million tonnes and saleable steel up 5 percent at 3.51 million tonnes.

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Tuesday, 1 August 2017

In The Currency Market, The Euro Traded At USD 1.1824

In the currency market, the euro traded at USD 1.1824, having risen to as high as USD 1.1846, its best level since January 2015, with a test of USD 1.20 within sight.

It has gained almost 15 percent from its January 3 low of USD 1.0340, which was its weakest level since January 2003, on rising expectations that the European Central Bank will taper its stimulus next year.

The dollar also slipped to a 1-1/2-month low of 110.21 yen, and last stood at 110.32 yen.

The Australian dollar held steady at USD 0.8000 ahead of the Reserve Bank of Australia's policy announcement later in the day. The RBA is widely expected to keep interest rates on hold.

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Sensex Opens Higher, Nifty Eyes 10,100; Tech Mahindra Surges 5%

Share price of Sobha gained 3 percent in morning trade as the company is going to consider buyback of shares.

A meeting of the board of directors of the company is scheduled on August 04, to consider and take on record, the unaudited financial results of the company for the quarter ended June 30, 2017.

The board will also consider a proposal for buyback of equity shares of the company, for an aggregate amount up to Rs 62 crore.

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