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SENSEX, NIFTY MANAGE TO END SESSION AT A RECORD CLOSING HIGH, TATA GROUP COS GAIN

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Indian Indices: Reversing initial losses, Indian equity benchmarks added gains in late afternoon session to hover near intraday highs, as investors remained optimistic ahead of the two-day Good and Services Tax (GST) Council's meet that is scheduled to start on Thursday and healthy buying in metal, realty and automobile stocks also buoyed investors' sentiments. 

Some support also came with the report that India has overtaken the US to be at second place in this year's 'Renewable energy country attractiveness index' released by EY and this is primarily due to a combination of strong government support and increasingly attractive economics. 

Meanwhile, power stocks gained traction after the CCEA approved a new coal linkage policy to ensure adequate supply of the fuel to power plants through reverse auction. Shares of some steel companies were trading higher with India Ratings and Research’s report that the National Steel Policy 2017 announced by the Ministry of Steel will give a boost to the struggling Indian steel industry and is betting on higher spending on infrastructure and construction sector through government initiatives to push steel demand and increase utilization.

The BSE Sensex is currently closed at 30658.77, up by 76.17 points or 0.25% after trading in a range of 30519.14 and 30692.45. There were 20 stocks advancing against 10 stocks declining on the index. The broader indices were trading mixed; the BSE Mid cap index was up by 0.17%, while Small cap index was down by 0.04%.

The CNX Nifty is currently shut up at 9525.75, up by 13.50 points or 0.14% after trading in a range of 9486.10 and 9529.30. There were 28 stocks advancing against 23 stocks declining on the index.

MARKET INDICATORS

·           

 

Top Movers (Group A)

 

 

Company

Cmp

% chg

Gainers

 

 

Tata Steel

493.35

7.95

Ceatltd

1832.45

7.85

Sobha

429.60

4.28

Welcorp

94.25

4.66

Losers

 

 

Edelweiss

179.05

-5.66

PNB

165.05

-5.44

Religare

182.95

-4.56

Network18

51.50

-4.28

INDEX PERFORANCE

 

 

Index

Close

% Chg

Sensex

30,658.77

0.25

Nifty

9,525.75

0.14

Crporate Front:

Pharmaceutical and petrochemical industries can help India and Belgium to diversify their bilateral trade beyond the diamond sector, the country's Secretary of State for Foreign Trade Pieter De Crem has said."Bilateral trade between India and Belgium is already strong. This is mainly thanks to the diamond sector and trade between Mumbai and Antwerp. I believe there is scope for diversifying to other sectors," De Crem told IANS on a recent visit to India.

 

Macroeconomic front:The Medium and Heavy Commercial Vehicle (MHCV) segment posted a 55 per cent yoy and 73 per cent mom decline in domestic sales volumes in April 2017, which is disconcerting and reflective of the possible MHCV industry downturn, says India Ratings and Research (Ind-Ra). MHCV sales volumes traditionally have displayed a sharp month on month decline in the month of April, due to highest annual sales usually registered in the month of March.

 

On the global front:

On the global front, European markets were trading in red as investors reacted to fresh corporate earnings and ongoing political uncertainty in the US. Asian markets were also trading in red. Back home, in scrip specific development, Dr. Reddy’s Laboratories traded higher after the company received approval from the U.S. Food and Drug Administration (USFDA) to launch Doxorubicin Hydrochloride Liposome Injection, a therapeutic equivalent generic version of Doxil (doxorubicin hydrochloride liposome injection), for intravenous use, in the United States market.

Commodity Updates:

Commodity Prices (MCX):

Commodity

Rs

% Chang

Gold

28345.00

0.89

Silver

39131.00

1.00

Crude oil

3124.00

0.03

Natural Gas

206.90

0.29

Alluminium

123.55

0.08

Copper

362.10

-0.1

Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were Metal up by 2.51%, Basic Materials up by 0.65%, Realty up by 0.49%, Auto up by 0.40% and Power up by 0.38%, while Consumer Durables down by 0.91%, IT down by 0.34%, Healthcare down by 0.23%, TECK down by 0.23%, and Oil & Gas down by 0.05% were the top losing indices on BSE.

Top Nifty Movers:The top gainers on Nifty were Tata Steel up by 8.64%, Indiabulls Housing Finance up by 2.96%, ICICI Bank up by 2.08%, Tata Power up by 1.73% and Tata Motors up by 1.67%. On the flip side, Tech Mahindra down by 2.54%, Bosch down by 1.69%, ACC down by 1.47%, Yes Bank down by 1.38% and Adani Ports & SEZ down by 1.38% were the top losers.

 

Global Signals:

All Asian markets were trading in red; Nikkei 225 decreased 104.94 points or 0.53% to 19,814.88, Hang Seng decreased 42.31 points or 0.17% to 25,293.63, Jakarta Composite decreased 25.8 points or 0.46% to 5,621.20, Taiwan Weighted decreased 17.82 points or 0.18% to 10,013.67, Shanghai Composite decreased 8.52 points or 0.27% to 3,104.44, FTSE Bursa Malaysia KLCI decreased 5.82 points or 0.33% to 1,772.33 and KOSPI Index decreased 2.25 points or 0.1% to 2,293.08.

European markets were trading mostly in red; Germany’s DAX decreased 22.26 points or 0.17% to 12,782.27 and France’s CAC decreased 13.96 points or 0.26% to 5,392.14. On the flip side, UK’s FTSE 100 increased 6.15 points or 0.08% to 7,528.18.

 

 

US indices close flat as political rhetoric sees sentiment turn cautious. Global markets consolidate as US Dollar weakens further with emerging market currencies seeing big gains.

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Indian Indices: Asian indices opened weak as profit booking seems on the cards after the heady run of the past few weeks. US Dollar weakness saw strength in most Asian currencies, which boosted sentiments with positive inflows into equities. There could be some more consolidation as US political rhetoric takes centre stage, which could see some more profit booking on rallies.


Nifty crossed 9500 led by Auto, Banks and FMCG as foreign flows and left out feeling witness huge buying chase stocks. With most sideline sitters also jumping in the fray expect another final bout of irrational exuberance as Nifty moves into extremely overbought zone. For today expect Tata Steel to lead from the front after posting excellent results last evening, while mid-cap housing and financials could be under pressure from profit booking.


The BSE Sensex is currently trading at 30599.56, up by 16.96 points or 0.06% after trading in a range of 30519.14 and 30642.94. There were 17 stocks advancing against 13 stocks declining on the index. The broader indices were trading in green; the BSE Mid cap index was up by 0.24%, while Small cap index was up by 0.10%.

The CNX Nifty is currently trading at 9507.50, down by 4.75 points or 0.05% after trading in a range of 9489.70 and 9521.00. There were 24 stocks advancing against 27 stocks declining on the index.

MARKET INDICATORS

·           

 

Group ATopGainers

 

 

Company

Price (Rs)

% chg

Tata Steel

492.85

7.84

RTNPower

8.89

5.58

Sobha

433.00

5.11

Monsanto

2919.45

5.18

Group ATopLosers

 

 

Shreecem

18926.40

-5.11

Edelweiss

181.65

-4.29

PNB

167.65

-3.95

Religare

184.70

-3.65

INDEX PERFORMANCE

 

 

Indices

Support

Resistanes

Sensex

30430

30660

Nifty

9475

9535

 

Technical view: Nifty finds strong support around 9450 which was the previous support while 9600 will act as resistance on the upside. Bank Nifty will also find support now around 22750 while 23100 will act as resistance on the upside.


 

SBI (Buy Above 308 with Stop Loss at 301 for Target of 320): After consolidating for the past six weeks, the stock has finally broken out from a symmetrical triangle pattern on the daily charts. The price outburst has been accompanied with credible rise in volumes too. In addition, other momentum oscillators also indicate than the upswing is likely to extend, which further accentuates our bullish stance on the stock.


Derivative Snippets

In the last trading session, Nifty, Bank Nifty, Mid-cap Index closed on record highs. Nifty closed above 9500 level for the first time ever as huge short covering was witnessed in 9500 CE strike. Nifty ATM/OTM put option strikes continue to remain under selling pressure. Nifty 9600 CE added fresh long positions, indicating a further up move. Bank Nifty 22500 CE added fresh long positions to the tune ~95k shares.

FIIs were net buyers in cash market segment to the tune of Rs 858 Cr.

FIIs index future long short ratio at 2x.

 

Nifty Movers: The top gainers on Nifty were Tata Steel up by 5.32%, Indiabulls Housing up by 2.89%, ICICI Bank up by 1.49%, BhartiAirtel up by 1.10% and Mahindra & Mahindra up by 1.04%.  On the flip side, Tech Mahindra down by 2.59%, Yes Bank down by 1.38%, ACC down by 1.31%, Bosch down by 1.23% and Wipro down by 1.23% were the top losers.

 

Top Sectoral& Stock Screening: The top gaining sectoral indices on the BSE were Metal up by 1.75%, Power up by 0.61%, Telecom up by 0.55%, Utilities up by 0.53% and Realty up by 0.49%, while Consumer Durables down by 0.77%, IT down by 0.55%, FMCG down by 0.38%, TECK down by 0.33% and Healthcare down by 0.16% were the losing indices on BSE.

 

 

On the global front: On the global front, Asian shares were trading in red, on the continued chaotic US political situation weighing on expectations for economic policies favoring tax cuts and higher spending. Japanese stocks dropped after the dollar eased against the yen on weak US economic data, while financials stocks underperformed hit by lower US yields.

 

Global Signals:The Asian markets were trading in red; Nikkei 225 decreased 109.98 points or 0.55% to 19,809.84, Hang Seng decreased 42.16 points or 0.17% to 25,293.78, Taiwan Weighted decreased 34.27 points or 0.34% to 9,997.22, Jakarta Composite decreased 22.05 points or 0.39% to 5,624.95, FTSE Bursa Malaysia KLCI decreased 6.67 points or 0.38% to 1,771.48, KOSPI Index decreased 3.33 points or 0.15% to 2,292.00 and Shanghai Composite decreased 2.45 points or 0.08% to 3,110.52.

 

US indices close flat as political rhetoric sees sentiment turn cautious. Global markets consolidate as US Dollar weakens further with emerging market currencies seeing big gains.

http://sharetipsinfo.comJust get registered at Sharetipsinfo and earn positive returns

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Indian Indices: Asian indices opened weak as profit booking seems on the cards after the heady run of the past few weeks. US Dollar weakness saw strength in most Asian currencies, which boosted sentiments with positive inflows into equities. There could be some more consolidation as US political rhetoric takes centre stage, which could see some more profit booking on rallies.


Nifty crossed 9500 led by Auto, Banks and FMCG as foreign flows and left out feeling witness huge buying chase stocks. With most sideline sitters also jumping in the fray expect another final bout of irrational exuberance as Nifty moves into extremely overbought zone. For today expect Tata Steel to lead from the front after posting excellent results last evening, while mid-cap housing and financials could be under pressure from profit booking.


The BSE Sensex is currently trading at 30599.56, up by 16.96 points or 0.06% after trading in a range of 30519.14 and 30642.94. There were 17 stocks advancing against 13 stocks declining on the index. The broader indices were trading in green; the BSE Mid cap index was up by 0.24%, while Small cap index was up by 0.10%.

The CNX Nifty is currently trading at 9507.50, down by 4.75 points or 0.05% after trading in a range of 9489.70 and 9521.00. There were 24 stocks advancing against 27 stocks declining on the index.

MARKET INDICATORS

·           

 

Group ATopGainers

 

 

Company

Price (Rs)

% chg

Tata Steel

492.85

7.84

RTNPower

8.89

5.58

Sobha

433.00

5.11

Monsanto

2919.45

5.18

Group ATopLosers

 

 

Shreecem

18926.40

-5.11

Edelweiss

181.65

-4.29

PNB

167.65

-3.95

Religare

184.70

-3.65

INDEX PERFORMANCE

 

 

Indices

Support

Resistanes

Sensex

30430

30660

Nifty

9475

9535

 

Technical view: Nifty finds strong support around 9450 which was the previous support while 9600 will act as resistance on the upside. Bank Nifty will also find support now around 22750 while 23100 will act as resistance on the upside.


 

SBI (Buy Above 308 with Stop Loss at 301 for Target of 320): After consolidating for the past six weeks, the stock has finally broken out from a symmetrical triangle pattern on the daily charts. The price outburst has been accompanied with credible rise in volumes too. In addition, other momentum oscillators also indicate than the upswing is likely to extend, which further accentuates our bullish stance on the stock.


Derivative Snippets

In the last trading session, Nifty, Bank Nifty, Mid-cap Index closed on record highs. Nifty closed above 9500 level for the first time ever as huge short covering was witnessed in 9500 CE strike. Nifty ATM/OTM put option strikes continue to remain under selling pressure. Nifty 9600 CE added fresh long positions, indicating a further up move. Bank Nifty 22500 CE added fresh long positions to the tune ~95k shares.

FIIs were net buyers in cash market segment to the tune of Rs 858 Cr.

FIIs index future long short ratio at 2x.

 

Nifty Movers: The top gainers on Nifty were Tata Steel up by 5.32%, Indiabulls Housing up by 2.89%, ICICI Bank up by 1.49%, BhartiAirtel up by 1.10% and Mahindra & Mahindra up by 1.04%.  On the flip side, Tech Mahindra down by 2.59%, Yes Bank down by 1.38%, ACC down by 1.31%, Bosch down by 1.23% and Wipro down by 1.23% were the top losers.

 

Top Sectoral& Stock Screening: The top gaining sectoral indices on the BSE were Metal up by 1.75%, Power up by 0.61%, Telecom up by 0.55%, Utilities up by 0.53% and Realty up by 0.49%, while Consumer Durables down by 0.77%, IT down by 0.55%, FMCG down by 0.38%, TECK down by 0.33% and Healthcare down by 0.16% were the losing indices on BSE.

 

 

On the global front: On the global front, Asian shares were trading in red, on the continued chaotic US political situation weighing on expectations for economic policies favoring tax cuts and higher spending. Japanese stocks dropped after the dollar eased against the yen on weak US economic data, while financials stocks underperformed hit by lower US yields.

 

Global Signals:The Asian markets were trading in red; Nikkei 225 decreased 109.98 points or 0.55% to 19,809.84, Hang Seng decreased 42.16 points or 0.17% to 25,293.78, Taiwan Weighted decreased 34.27 points or 0.34% to 9,997.22, Jakarta Composite decreased 22.05 points or 0.39% to 5,624.95, FTSE Bursa Malaysia KLCI decreased 6.67 points or 0.38% to 1,771.48, KOSPI Index decreased 3.33 points or 0.15% to 2,292.00 and Shanghai Composite decreased 2.45 points or 0.08% to 3,110.52.

 

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