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Topic :- Share Market Closing Note

Benchmark indices end flat but on a negative note on Tuesday as gains in IT stocks were offset by losses in oil refiners such as Hindustan Petroleum Corp, with sentiment dampened after data showed the countrys trade deficit widened in December.

Indias December trade deficit widened to its highest in more than three years as higher import bills for gold and crude oil weighed on rising exports, government data showed on Monday.

The trade deficit widened to $14.88 billion last month from $13.83 billion in November, data from the Ministry of Commerce and Industry showed.

Oil refiners fell as global oil prices rose to near three-year highs due to production curbs in OPEC nations and Russia and robust demand from healthy global economic growth.

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Topic :- Time:3.05 PM

Nifty spot close above 10705 will result in some upmove in coming trading session and if it closes below above mentioned level then some sluggish move can be seen. Avoid open positions for tomorrow.

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Topic :- Time:2.30 PM

CRUDEOIL Trading View:

CRUDEOIL is trading at 4111. If it breaks and trade below 4100 level then expect some profit booking in it and if it manages to trade and sustain above 4125 level then some upmove can be seen in it.

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Topic :- Time:2.00 PM

Nifty is trading volatile. Nifty spot if manages to trade and sustain above 10730 level then expect some upmove in the market and if it breaks and trade below 10690 level then some softness can be seen.

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Topic :- Time:1.00 PM

Nifty is looking dull and weak. Nifty spot if breaks and trade below 10710-10700 levels then further decline is expected in the market and if it manages to trade and sustain above 10730 level then some upmove can follow in the market.

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Topic :- Time:12.40 PM

ZINC Trading View:

ZINC is trading at 218.20. If it breaks and trade below 218 level then further decline is expected in it and if it manages to trade and sustain above 218.60 level then some upmove can follow in it. Sell on every rise till it holds below 218.60-219 is recommended in it.

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Topic :- Time:12.20 PM

FEDERALBNK Future Trading View:

FEDERALBNK Future is trading at 106.20. It will find immediate support at 106. If it holds above 106-105.80 then it is likely to show some quick upmove however if it sustain above 108 level then pull back till 112 is expected within few sessions.

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Topic :- Time:12.15 PM

BSE approves Rs 166 cr share buyback within a year of listing:

The Bombay Stock Exchange (BSE) has approved a share buyback of Rs 166 crore. This buyback comes within the first year of the exchanges listing. In an interview with CNBC-TV18, Ashish Chauhan, Chief Executive Officer of the BSE shared more details.

We have a lot of cash on our balance sheet and we will continue to use that cash in an optimal manner, he said.

We are very keen to start a commodity exchange on our own, he added.

We have announced that on January 29, we are going to launch mock trading of commodity exchange, said Chauhan.

He hopes to make a real launch of commodity exchange by October 2018, he further mentioned.

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Topic :- Time:12.00 PM

Reliance conference has started with the motto of JIO expansion. Wild swings expected in the market. Nifty spot if manages to trade and sustain above 10750-107650 levels then expect some upmove and if it breaks and trade below 10730 level then some softness can be seen in the Nifty.

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Topic :- Time:11.30 AM

News Wrap Up:

1. Sensex, Nifty turns flat in choppy trade; Nifty IT up 2.5%

2. HUL m-cap crosses Rs 3 trillion; hits new high ahead of Q3 results

3. 80% of firms set up in post-economic reforms era have huge debt burden

4. Sebi mulls review of graded surveillance measures to improve transparency

5. IT stocks rally; Wipro, TCS, MindTree crosses share buyback price

6. Barbeque Nation receives Sebis approval to raise Rs 7 bn through IPO

7. Scrap personal income tax, Mr FM; its an idea whose time is over

8. Govt to ensure AIs control stays with Indian entity

9. Infosys surprises its staff with 95% variable pay, highest in past 9 quarters

10. Govt pipelines big biz into western Rajasthan

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Topic :- Time:11.00 AM

After positive opening nifty is now trading in negative zone. Nifty spot if breaks and trade below 10700 level then further decline is expected in the market and if it manages to trade and sustain above 10742 level then some upmove can follow in the market.

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Topic :- Nifty Opening Note

Indian Stock Market Trading View For 16 Jan,2018:

Nifty to turn volatile as the day progresses. Global cues to play important role.

Nifty spot if manages to trade and sustain above 10760 level then expect some further upmove in the market and if it breaks and trade below 10720 level then nifty can decline however 10600 will act as crucial support for intraday.

Please note this is just opening view and should not be considered as the view for whole day.

Please visit this section again during trading hours for Live Stock market view, Commodity view, Share tips and Commodity tips for good gains.

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Ahead of the budget, the stainless steel industry has asked the government to remove import duty on ferro-nickel and stainless steel scrap.

In its pre-budget wish list, the Indian Stainless Steel Development Association (ISSDA) has sought removal of customs duty on key raw materials used in producing stainless steel.

"The government had removed customs duty on pure nickel in the last budget, it didn't help the industry much since most of nickel used by stainless steel makers is in the form ferro-nickel," the ISSDA said.

The same relief should now be extended to ferro-nickel, it demanded. The import duty on ferro-nickel is 2.5 per cent.

The raw material has to be necessarily imported because India hardly has any nickel resources, the association said.

The industry body also said that since all the stainless steel is produced through electric furnaces, stainless steel scrap is the main raw material which also provides cost effective source of alloying elements like chrome and nickel.

The scrap is also not available in the country and has to be imported, the body said asking the government to bring the customs duty for stainless steel scrap to zero from 2.5 per cent at present.

ISSDA President K K Pahuja said, "It is absolutely necessary to preserve competitiveness of Indian stainless steel industry at a time when government is building new trade relations with other countries and we appeal to the Finance Ministry to remove basic custom duty on both ferro-nickel and stainless steel scrap."

The Union Budget for 2018-19 will be presented on February 1.

Steel Secretary Aruna Sharma had earlier told PTI that along with ferro-nickel, the steel ministry had pitched for bringing down import duty on stainless steel scrap to zero.

The steel ministry had already made a request to the finance ministry in this regard, she had said.