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Share Market Closing Note
Benchmark indices whipsawed in trade on Thursday, the day of weekly F&O expiry, as geopolitical tensions between Ukraine and Russia remained unabated. Besides, Brent crude prices above $120 per barrel also added to investor woes.
The frontline S&P BSE Sensex gyrated 690 points intra-day before settling at 57,596, down 89 points or 0.15 per cent. The Nifty50, on the other hand, ended at 17,223, down 23 points or 0.13 per cent. The 50-share index had touched an intra-day high and low of 17,292 and 17,091, respectively.
Dr Reddys Labs (up nearly 5 per cent) was the top Nifty gainer today, followed by Coal India, Hindalco, Cipla, NTPC, JSW Steel, Tech M, and RIL. On the downside, Kotak Bank, HDFC Bank, Titan, ICICI Bank, HDFC, Maruti Suzuki, Divis Labs, BPCL, Tata Consumer Products, BPCL, and M&M slipped between 1 per cent and 3 per cent, keeping a lid on the upside.
The broader markets, on the contrary, held their ground and outperformed the headline indices. The BSE MidCap and SmallCap indices added up to 0.3 per cent amid gains in Zee Entertainment, Mindtree, Jindal Steel, Mphasis, Glenmark Pharma, Suven Pharma, Ganesh Housing, Future Retail, and Dish TV.
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Topic :- Time:3.00 PM
Nifty spot close above 17260 level then expect some upmove in coming sessions and if it closes below above mentioned level then some sluggish movement is likely to be seen in the market. Avoid open positions for tomorrow.
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Topic :- Time:2.40 PM
Just In:
Moscow stock exchange partially reopens after one-month closure
Trading resumed for only around 30 of the largest companies that make up the ruble-denominated MOEX Russia Index, which saw early gains of up to 10 percent.
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Topic :- Time:2.30 PM
CRUDEOIL Trading View:
CRUDEOIL is trading at 8823.If it manages to hold above 8780 level then expect some quick upmove in it and if it breaks and trade below 8780 level then some decline can follow in it.
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Topic :- Time:2.00 PM
Nifty is likely to turn volatile now in last hours. Nifty spot if manages to trade and sustain above 17200 level then expect some quick upmove in the market and if it breaks and trade below 17160 level then some decline can follow in the Nifty. Currently Nifty is trading at 17195.
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Topic :- Time:1.55 PM
Just In:
1. Anil Ambanis fire sale stretches, frustrating some of his lenders.
2. Paytm shares jump 13% after freefall, still at 72% discount to issue price
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Topic :- Time:1.40 PM
GOLD Trading View:
GOLD is trading at 51850.If it manages to trade and sustain above 51900 level then expect some quick upmove in it and if it breaks and trade below 51800 level then some decline can follow. Overall Buy from dips should be the approach till evening session.
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Topic :- Time:1.10 PM
FDI inflow to India declines to $74.01 billion in 2021:
Total foreign direct investment (FDI) inflow to India declined to $74.01 billion in the calendar year 2021, which is 15 per cent lower from $87.55 billion recorded in the previous year, the Ministry of Commerce & Industry said on Wednesday.
The FDI inflow includes equity inflow, equity capital of unincorporated bodies, re-invested earnings and other capital.
FDI is largely a matter of commercial business decisions and FDI inflow depends on a host of factors such as availability of natural resource, market size, infrastructure, political and general investment climate as well as macro-economic stability and investment decision of foreign investors. In calendar year 2021, the FDI inflow decreased by 15 per cent as compared to calendar year 2020, Minister of State in the Ministry of Commerce and Industry Som Parkash said in a written reply in the Lok ..
To promote FDI, the Government has put in place an investor-friendly policy, wherein most sectors except certain strategically important sectors are open for 100 per cent FDI under the automatic route. Further, the policy on FDI is reviewed on an ongoing basis, to ensure that India remains attractive and investor-friendly destination, the minister said.
Changes are made in the policy after having consultations with stakeholders including apex industry chambers, associations, representatives of industries/groups and other organizations. The government has recently undertaken a number of reforms across sectors. In the recent past, reforms in the FDI policy have been undertaken in sectors such as Insurance, Petroleum & Natural Gas, Telecom etc, the minister added.
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Topic :- Time:1.00 PM
Nifty is likely to turn volatile now. Nifty spot if manages to trade and sustain above 17200 level then expect some quick upmove and if it breaks and trade below 17160 level then some decline can follow in it.
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Topic :- Time:12.30 PM
COPPER Trading View:
COPPER is trading at 824.If it manages to trade and sustain above 825 level then expect some quick upmove in the market and if it breaks and trade below 822.80 level then some decline can follow in Copper.
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Topic :- Time:12.10 PM
Just In:
Nirmala Sitharaman to introduce Finance Bill in Lok Sabha today.
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Topic :- Time:12.00 PM
Nifty spot is trading at 17200.If it breaks and trade below 17180 level then expect some decline in it and if it manages to trade and sustain above 17240 level then some upmove can follow in it.
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Topic :- Time:11.30 AM
News Wrap Up:
1. Sensex recovers 600pts from low, Nifty nears 17,300; IT leads
2. Invesco backs Zee, Sony merger, decides against pursuing litigation | Zee surges 15%
3. 2 years after Covid, Indian economy hopping from one crisis to another
4. No bar on Maruti to make electric vehicles: Chairman R C Bhargava
5. Rajesh Jain, pioneer of Indias dotcom era, preps IPO for second startup
6. Suven Pharma gains 5% to hit record high; stock rallies 18% in three days
7. 5-day rally halts! L&T Finance down 7% on profit-taking post L&T stake hike
8. Nelco freezes at 5% upper circuit on strategic pact with Omnispace
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Topic :- Nifty Opening Note
Indian Stock Market Trading View For 24 March,2022:
More trouble for Russia expected in the form of sanctions and more restriction. Joe Biden to meet Nato members.Russia might take more agressive stand. CRUDEOIL, NATURALGAS and Oil based stocks will remain in focus. Weekly expiry will result in volatile trend.
Nifty spot if manages to trade and sustain above 17280 level then expect some upmove in the market and if it breaks and trade below 17200 level then some decline is expected to follow in the share market. Please note this is just opening view and should not be considered as the view for the whole day.
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