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Topic :- Share Market Closing Note
Markets ended over 1.5% higher on Thursday after the Reserve Bank of India kept the repo rate unchanged at 6% in the first Monetary Policy Committee (MPC) meet of FY19.
The S&P BSE Sensex ended at 33,597, up 578 points while the broader Nifty50 index settled at 10,325, up 197 points.
The MPC had started its 2-day meeting on Wednesday amid little hope of a rate cut, given a hardening in global crude oil prices.
The RBI has maintained the status-quo on the key short-term borrowing rate (repo) in its last three policy meets. The benchmark lending rate was reduced by 0.25 percentage points to 6 per cent last August, bringing it to a 6-year low.
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Topic :- Time: 2.00 PM
Nifty is trading flat on account of upcoming RBI policy announcement. Nifty spot if manages to trade and sustain above 10300 level then expect some upmove and if it breaks and trade below 10260 level then some profit booking can be seen in it.
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Topic :- Time:1.30 PM
SILVER Trading View:
SILVER is trading at 38080. It will find its immediate resistance at 38330 level. If it manages to hold below it then it can slide towards 37820 level quite soon. Sell on every rise till it holds below 38330 is recommended in it.
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Topic :- Time:1.00 PM
Nifty is trading flat ahead of RBI policy. Nifty spot if manages to trade and sustain above 10300 level then expect some upmove and if it breaks and trade below 10260 level then some profit booking can be seen in the market.
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Topic :- Time:12.40 PM
PNB fraud case: Belgium freezes two Nirav Modi accounts:
In a breather to the Indian authorities in the Rs 13,000-crore Punjab National Bank (PNB) fraud case, the Belgian authorities have frozen two accounts of diamond merchant Nirav Modi at Enforcement Directorates (ED) request, according to a report in The Hindu.
In a bid to stop Modi from using the funds parked in the accounts, the ED had reached out to the Belgian government via diplomatic channels and sought a freeze on the accounts.
After the Punjab National Bank scam broke out and investigations were launched, all agencies were roped in to gather more and more facts. The Financial Intelligence Unit (FIU) has also been providing vital information, the report quoted an official.
Last week, the ED also managed to arrest a close associate and the vice president of a firm of Modi for allegedly aiding in the laundering of over Rs 5,900 crore in connection with the Delhi-based government owned bank fraud case.
So far, the agency has sent judicial requests to over a dozen countries for obtaining information about the overseas businesses and assets of Modi. In India, since the scam broke out in February, a total of 251 searches have been conducted to begin criminal probe against him.
The total seizure and attachment of diamond, gold, precious and semi-precious stones and other movable and immovable assets in the case stand over Rs 7,600 crore.
Apart from Belgium, the ED has sent Letters Rogatories (LRs) to countries including Hong Kong, Switzerland, the United States, the United Kingdom, Dubai, Singapore and South Africa, tracking the diamond and gold jewellery businesses of the firms owned by Modi, his uncle Mehul Choksi and others associated with them.
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Topic :- Time:12.30 PM
COPPER Trading View:
COPPER is trading at 436.30. If it manages to trade and sustain above 437 level then expect it to rise further and if it breaks and trade below 434 level then some profit booking can follow in it.
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Topic :- Time:11.30 AM
News Wrap Up:
1. Sensex surges 400 pts, Nifty above 10,250; RBI policy eyed
2. Services sector grows in March, spurs fastest hiring spree in 7 years: PMI
3. Centre may completely exit Air India, sell its residual stake to LIC
4. These are not the best of times to be a banker: SBI Chairman Rajnish Kumar
5. Salman Khan convicted in Blackbuck case, Tabu, Saif acquitted.
6. Nepal has Rs 9.5 bn in demonetised Indian notes and doesnt know what to do
7. Interest rate sensitive stocks gain upto 4% ahead of RBI policy
8. Smartlink Network Systems surges 15% as board mulls share buyback proposal
9. Adani Enterprises trades ex-date to spin off its renewable energy biz
10. Jhunjhunwala, shareholders question Fortis-Manipal deal over valuations
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Topic :- Time:10.30 AM
After positive opening nifty is still trading in positive zone. Nifty spot if manages to trade and sustain above 10285 level then further upmove is expected and if it breaks and trade below 10260 level then some softness can be seen.
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Topic :- Nifty Opening Note
Indian Stock Market Trading View For 05 April,2018:
Nifty to trade volatile and is expected to follow global cues.
Nifty spot if manages to trade and sustain above 10160 level then expect some upmove and if it breaks and trade below 10080 level then expect some profit booking in it. Please note this is just opening view and should not be considered as the view for the whole day.