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Major headlines
·
Indian equites trade flat on profit booking, global cues
·
We want discussion on Agusta Westland deal
·
SC bans sale of liquor near all highways
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INDEX
PERFORMANCE
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Index
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Close
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% Chg
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Sensex
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26,519.07
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-0.31
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Nifty
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8,153.60
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-0.35
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Indian
Indices: Altering
between positive and negative territory, Indian equity benchmarks are now
trading with small gains in late noon session led by upmove in frontline blue
chip stocks such as TCS, Wipro and Axis Bank among others. Some support came
with private report stating that the Reserve Bank is expected to meet its
inflation target 'comfortably' as CPI inflation is likely to remain well
below 5 per cent over the first half of 2017. On the global front, European
Markets were trading mixed and Asian markets were trading mostly in red after
the U.S. Federal Reserve announced a 25 basis point rate increase and opened
the door to three hikes next year. Back home, stocks related to the IT sector
were trading firm on the back of weakness in rupee. The rupee weakened to 67.77
against the U.S. dollar, down 33 paise from its previous close. Shares of
ports, shipping and logistics companies were trading higher on the bourses
after the Cabinet approved a Major Port Trust Authorities Bill to replace the
Major Port Trusts Act of 1963.
The BSE
Sensex is currently trading at 26655.16, up by 52.32 points or 0.20% after
trading in a range of 26407.58 and 26737.86. There were 18 stocks advancing
against 12 stocks declining on the index. The broader indices were trading in
green; the BSE Mid cap index gained 0.32%, while Small cap index was up by
0.45%.
The CNX Nifty
is currently trading at 8193.75, up by 11.30 points or 0.14% after trading in
a range of 8121.95 and 8225.90. There were 27 stocks advancing against 24
stocks declining on the index.
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MARKET INDICATORS
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·
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Top Movers (Group A)
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Company
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Cmp
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% chg
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Gainers
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|
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Hathway
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36.20
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5.39
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IFCI
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27.20
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4.62
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IGL
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906.75
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4.25
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Mphasis
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555.00
|
4.10
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Losers
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|
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Nationalum
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61.05
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-7.78
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Sunpharma
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649.45
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-4.36
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Unitech
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4.56
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-3.59
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Intellect
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160.30
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-3.49
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Market Statistics
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BSE
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NSE
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Advances
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1190
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648
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Declines
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1397
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811
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Market Sentiment:
The market breadth on BSE was positive in the
ratio of 1190: 1397, while 159 scrips remained unchanged.
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Crporate Front:
The Lok
Sabha lost the second last day of the winter session on Thursday to
disruptions, with the opposition benches demanding a debate on demonetisation
while the treasury benches demanded a discussion on the AgustaWestland
helicopter deal.
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Macroeconomic front:
Union
Minister M. Venkaiah Naidu on Thursday said that the government wants to
discuss the Agusta Westland VVIP chopper deal in Parliament over the
allegations of the kickbacks paid to political leaders and officers.
On
the global front:
On the global front, The Chinese diplomat said
that mutual cooperation between the two countries has resulted in a win-win
situation for both and would help increase profitability in the coming years.
Co-chairman of CII Task Force on Ease of Doing Business and CMD Chemtrols
Industries K. Nandakumar said that India is at the same position where China
was 10 years ago and hence there is a huge potential here considering its
present demographics.
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Commodity
Updates:
Commodity Prices (MCX):
|
Commodity
|
Rs
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% Chang
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Gold
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27155.00
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-1.57
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Silver
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40574.00
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-2.77
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Crude oil
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3480.00
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-0.49
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Natural Gas
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239.50
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0.29
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Alluminium
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117.90
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0.0
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Copper
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389.00
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0.03
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Top Sectoral & Stock Screening: The
top gainers on the Sensex were TCS up by 2.63%, Axis Bank up by 1.96%, Power
Grid Corpn. up by 1.68%, Adani Ports &Special up by 1.30% and Wipro up by
1.18%. On the flip side, Sun Pharma down by 2.44%, Tata Motors down by
1.46%, NTPC down by 1.22%, ITC down by 1.01% and Lupin down by 0.84% were the
top losers.
Top Nifty Movers: The top gainers on Nifty were TCS up by
2.58%, Axis Bank up by 2.20%, HCL Tech. up by 1.69%, Power Grid Corpn. up by
1.57% and Adani Ports &Special up by 1.20%. On the flip side, Sun Pharma
Inds. down by 2.37%, Grasim Industries down by 1.69%, Tata Motors down by
1.44%, NTPC down by 1.22% and Tata Motors - DVR down by 1.10% were the top
losers.
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Global Signals:
The Asian
markets were trading mostly in red; Hang Seng decreased 397.22 points or
1.77% to 22,059.40 , Shanghai Composite decreased 22.85 points or 0.73% to
3,117.68 , Taiwan Weighted decreased 8.17 points or 0.09% to 9,360.35 ,
Jakarta Composite decreased 5.67 points or 0.11% to 5,257.15, FTSE Bursa
Malaysia KLCI decreased 5.35 points or 0.33% to 1,637.94 and KOSPI Index
decreased 0.22 points or 0.01% to 2,036.6. On the flip side, Nikkei 225
increased 20.18 points or 0.1% to 19,273.79.
European
Markets were trading mixed; France’s CAC increased 18.14 points or 0.38% to
4,787.38 and Germany’s DAX increased 40.8 points or 0.36% to 11,285. On the
flip side, UK’s FTSE 100 decreased 9.07 points or 0.13% to 6,940.12.
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Major headlines:
·
Oil prices stablilise after Fed hike as tighter market looms
·
China’s yuan opens at weakest vs dollar since june 2008
·
Gold falls to over 10- month low as Fed signals more rate hikes
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INDEX
PERFORMANCE
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Indices
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Support
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Resistanes
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Sensex
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26180
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26550
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Nifty
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8075
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8195
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Indian
Indices: Asian markets opened weak with the
exception of the Japanese 'Nikkei" index which traded higher on the back
of a weaker yen. Initial reaction to the Federal Reserve rate hike saw bond
yields rise & the US $ get stronger which as a follow through will see
most Asian indices trade in the red. Gold prices hit new 1 year lows &
oil prices also traded near US$50 which should see return of smart money to
equity with Asian stocks becoming value picks after the sharp under
performance.
Nifty continues to trade sideways with a negative bias as muted
foreign flows combined with weak rhetoric on the impact of demonetization
keeps the index in check. The rise in yields could see some more foreign
money exit even as India remains in total opposition to the global markets
with surplus cash in the system seeing our yields hit 6 year lows. For today
expect smart money to buy the fall as we head closer to 8100 as nearness to
budget in next 45 days should see value buying emerge.
The BSE
Sensex is currently trading at 26675.05, up by 72.21 points or 0.27% after
trading in a range of 26407.58 and 26737.86. There were 15 stocks advancing
against 15 stocks declining on the index. The broader indices were trading in
green; the BSE Mid cap index was up by 0.38%, while Small cap index was up by
0.73%.
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MARKET
INDICATORS
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·
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Group ATop Gainers
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|
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Company
|
Price (Rs)
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% chg
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Hathway
|
36.05
|
4.95
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IFCI
|
27.00
|
3.85
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Hindzinc
|
283.95
|
2.92
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Justdial
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390.00
|
2.92
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Group ATop Losers
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Nationalum
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62.80
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-5.14
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Hindpetro
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420.70
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-3.22
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Unitech
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4.62
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-2.33
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Muthootfin
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274.15
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-1.93
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Market
Statistics
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BSE
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NSE
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Advances
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1349
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1092
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Declines
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715
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333
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Technical view: Nifty finds support
@ 8100 & faces resistance around 8200, any breach either way will see
move up or down. Bank Nifty also finds support around 18250 & faces
resistance around 18600.
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Market Sentiment:
The market breadth on BSE was positive in the ratio
of 1349:715, while 104 scrips remained unchanged.
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Trading
ideas : MOTHERSUMI
Dec Fut (Sell below Rs 319 for Target of Rs 305 , SL at Rs 326): The stock has taken resistance on the upper band of
the weekly channel and moving down. Multiple attempts to close above Rs 331
went futile, and stock also made a bearish engulfing pattern in yesterday's
trade. Sustaining below Rs 319, stock would see a pennant breakdown. We
advise to SELL Mothersumi Dec Fut at Rs 319, stop loss at Rs 326, and Target
of Rs 305.
Macroeconomic Front: Amid concerns of missing the GST rollout deadline of
April 1, the government Wednesday came out with a report card detailing the
efforts being made to reach a consensus on support legislations for timely
implementation of the new indirect tax regime, reported PTI. "All
efforts are being made to meet the necessary deadlines to ensure that GST is
rolled out by April 1, 2017.
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Corporate Snippets: Bharti Airtel and
Vodafone India are pushing ahead the government’s broad agenda to move
towards cashless economy, at a time when demonetization has crippled cash
payments due to inadequate cash in the system.
Bajaj
Electricals has entered in to a strategic alliance with the UK based firm
Gooee to create lighting products and solutions on the Internet of Things
platform.
Lupin has received
approval from the US health regulator to market its Desoximetasone ointment,
used for providing relief from inflatmmation and itching in a skin disease.
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Top
Sectoral& Stock Screening: The top gaining
sectoral indices on the BSE were IT up by 1.71%, TECK up by 1.30%, Realty up
by 1.09%, Bankex up by 0.64% and Metal up by 0.50%, while Oil & Gas down
by 0.59% and FMCG down by 0.38% were the losing indices on BSE.
Nifty
Movers: The top gainers on Nifty were TCS up by
2.58%, HCL Tech up by 2.17%, Infosys up by 1.58%, Mahindra & Mahindra up
by 1.54% and IndusInd Bank up by 1.54%. On the flip side, Sun Pharma down by
1.58%, Tata Motors down by 1.17%, Bharti Airtel down by 1.04%, BPCL down by
1.03% and NTPC down by 0.98% were the top losers
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On the global front: On the global front, Asian shares were
trading mostly in red, after the US Federal Reserve overnight indicated it
would raise interest rates faster than expected in 2017. The rate hike in US
would lead outflow of money from emerging market equities into US bonds which
are considered as safer investment options. This is only for the second time
in a decade that the Federal Reserve has raised its rate.
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Global
Signals: The
Asian markets were trading mostly in red; Hang Seng decreased 395.72 points
or 1.76% to 22,060.11, Shanghai Composite decreased 14.79 points or 0.47% to
3,125.74, Taiwan Weighted decreased 8.17 points or 0.09% to 9,360.35, FTSE
Bursa Malaysia KLCI decreased 7.03 points or 0.43% to 1,636.26 and Jakarta Composite
decreased 6.37 points or 0.12% to 5,256.45.On the other hand, KOSPI Index
increased 0.79 points or 0.04% to 2,037.66 and Nikkei 225 increased 92.84
points or 0.48% to 19,346.45.
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