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Friday, 22 June 2018

Nifty Above 10,750 mark; MTNL, Sun Pharma Stocks Up

Equity Tips Today | Trade Nivesh

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Market indices Sensex and Nifty slid amid an unfavorable global outlook.

Market indices Sensex and Nifty slid on escalating India-China trade tensions, tighter Federal Reserve policy, and the highly-anticipated OPEC meet, which made investors wary.

The BSE Sensex was trading at 35,483, up 52 points, while NSE Nifty was trading at 10,757, up 16 points.

Among notable stocks, Poly Medicure BV rallied at 8% after it entered into a Share Purchase Agreement with Plan 1 Health SRL. IDBI’s stock also surged at 2% after media reports indicated that government is thinking of selling 40-43% of its stake to LIC.

BSE Mid-cap Index was trading down 0.27% at 15,725, while BSE Small-cap Index was trading down 0.31% at 16,477.
M&M (+1.93%), Infratel (+1.79%), ITC (+1.53%), BPCL (+1.29%), and Bajaj Finance (+0.91%) were the top gainers on NSE.

Reliance (-1.86%), Grasim (-1.72%), UPL (-1.58%), Eicher Motors (-1.51%), and IndusInd Bank (-1.44%) were the top losers on NSE.

Some buying activity was seen in fast moving consumer goods and consumer durables, while banking, energy and oil & gas were showing weakness on BSE.

The India VIX was down 1.58% at 12.2500.

Out of 2,059 stocks traded on the NSE, 1,048 declined, 578 advanced, and 433 remained unchanged on Thursday.

A total of four stocks registered a fresh 52-week high in trade, while 117 stocks touched a new 52-week low on the NSE.

Thursday, 21 June 2018

Market Live: Sensex Consolidates Amid Global Trade War Fears; RIL at Record High

Today Equity News | Trade Nivesh

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Asian stocks recoup morning losses to trade higher with Japan's Nikkei rising over half a percent.

The Nifty continues to remain in a range - the broader range for the overall direction of the markets is about 350 points. The support is at 10,550 and the resistance is at 10,900. We are vacillating within this range since the beginning of this month.

From a trading perspective the trimmed version of this range would be 10,700 - 10,850, a 150 points. This is usually not really a task for the index. However, these are testing times and a trader must be cautious on these levels being respected.
The good news however is that a one sided move would be expected if either levels are crossed which would then promise a delightful trade.

India signs MOUs for early adoption of 5G: India signed three memoranda of understanding with three top UK academic institutions to facilitate meaningful exploration and early adoption of 5G technology.

The MOUs were signed between representatives of King's College, University of Surrey, University of Bristol and Vipin Tyagi, Executive Director of C-DOT, a government-owned body engaged in research and development in the field of telecommunications in India. 

The agreements were signed at the India House in presence of India's minister of state for communications Manoj Sinha and High Commissioner to the UK Y K Sinha.

SEBI Board Meet Agenda: The Securities and Exchange Board of India (SEBI) is likely to discuss proposed overhaul of governance norms for market infrastructure institutions as well as amendments to buyback and takeover norms tomorrow, a senior official said.

Other proposals, including reducing the cooling off period for former employees to one year and review of the watchdog's recruitment policy, are also on the agenda.

SEBI board will meet today in Mumbai where the proposal for overhauling regulations for ownership and governance of market infrastructure institutions (MIIs), including capping the tenure of chief executives of stock exchanges, are expected to be discussed, the official said.

The watchdog has been working on ways to deepen the capital market as well as attract more investors.

Market Update: The market continued to consolidate amid rising fears of a global trade war started by the world's largest two economies US and China.

The Nifty Midcap index underperformed frontliners, falling mildly while the sectoral trend remained mixed.

The 30-share BSE Sensex rose 23.19 points to 35,570.52 and the 50-share NSE Nifty gained 4.20 points at 10,776.20.
The market breadth is in favour of declines as about 1,069 shares slipped against 823 advancing shares on the BSE.

Wednesday, 20 June 2018

Nifty Reclaims 10,750 Mark; Bank Nifty, Metal Stocks Lead

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Vedanta was the biggest gainer on the indices after falling for the last eight sessions, its longest losing streak in over three months.

Benchmark indices Sensex and Nifty rose after the US-China trade war led to a washout of the previous two sessions. 

Vedanta was the biggest gainer. The company has been falling straight over the last eight sessions, its longest losing streak in over three months.

The threat from US President Donald Trump for tariffs on an additional $200bn of Chinese goods is the latest in a series of potential trade war opening shots. Assets in emerging markets have been hit hard as the escalation in tensions coincides with steeper projections for US interest-rate increases.

At 11:45 AM, the BSE Sensex was trading at 35,455, up 169 points, while the NSE Nifty was trading at 10,756, up 45 points.

Broader indices, meanwhile, were also up, with the BSE mid-cap index up 0.36% at 15,872, and the BSE small-cap index trading up 0.37% at 16,675.

Vedanta (+2.07%), Reliance (+2.03%), Zee Entertainment (+2.00%), Cipla (+1.62%), and Axis Bank (+1.51%) were the top gainers on the NSE.

On the other hand, IOC (-1.72%), Hindustan Petroleum (-1.44%), Coal India (-1.41%), UPL (-1.39%), and BPCL (-1.21%) were the top losers on the NSE.

Buying activity was also seen in banking, auto, consumer durables, metal, healthcare, and finance, while capital goods and oil and gas were showing weakness on the BSE.

The INDIA VIX was down 3.40% at 12.4800.

Of the 2,084 stocks traded on the NSE, 643 declined, 970 advanced, and 430 remained unchanged on Wednesday.

A total of 14 stocks registered a fresh 52-week high in trade, while 75 stocks touched a new 52-week low on the NSE.

Tuesday, 19 June 2018

Private Bank Stocks Down; ICICI Bank Top Loser

Intraday Trading Tips  |  Trade Nivesh

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 Most private bank stocks including ICICI Bank (down 1.33 per cent), IDFC Bank (down 1.30 per cent) and Federal Bank (down 1.01 per cent) were suffering losses during the first half of Tuesday's trade. 

Shares of controversy-hit ICICI Bank came under pressure after reports emerged that the bank's CEO Chanda Kochhar will proceed on leave to facilitate an independent investigation into charges of favouritism and impropriety while the group's life insurance head Sandeep Bakhshi will run the bank as its Chief Operating Officer. 

The Nifty Private Bank was trading 0.33 per cent down at 14,939 around 10:40 am. 

RBL Bank (down 0.78 per cent), IndusInd Bank (down 0.72 per cent), Axis BankNSE -0.66 % (down 0.70 per cent) and Kotak Mahindra Bank (down 0.26 per cent) were also among the losers. 

However, YES Bank (up 0.66 per cent) and HDFC Bank (up 0.21 per cent) were the two stocks in the index that were up around that time. 

Equity markets were in the negative territory, tracking weakness in global stocks as the trade conflict between the US and China intensified.  

Monday, 18 June 2018

Closing Bell: Nifty Ends tad Below 10,800 amid Trade war Tensions; ICICI Bank zooms

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Market Closing: Benchmark indices ended mildly lower after consolidation on Monday, even as global peers were under pressure on escalated trade war between the US and China.

The Sensex slipped 73.88 points to 35,548.26 and the Nifty declined 17.80 points to 10,799.90. About two shares declined for every share rising on the BSE.

Dr Reddy's Labs, Eicher Motors, Tata Motors, ICICI Bank, HPCL, BPCL and IOC were gainers.

Vedanta, Kotak Mahindra Bank, Infosys, Coal India and HUL were under pressure.

The Nifty Midcap index fell more than 80 points.
NIIT Technologies, Firstsource, Ashok Leyland, Sun TV, V-Guard, JSPL, Motherson Sumi, Karur Vysya Bank, Torrent Power, PC Jeweller, Everest Kanto, Balrampur Chini, IGL, Syndicate Bank, Andhra Bank and Manpasand Beverages fell up to 6 percent.

Bata, Relaxo Footwears, Liberty Shoes and Mirza International rallied up to 16 percent.

TVS Motor, Apollo Hospitals, Tata Global, Jubilant Foodworks and Dabur gained up to 3 percent.

Friday, 15 June 2018

Buy ICICI Securities, Target Rs 520: CLSA

CLSA | Trade Nivesh
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CLSA has a buy call on ICICI Securities Ltd. with a target price of Rs 520.0 . The current market price of ICICI Securities Ltd. is Rs 363.75 Time period given by he house is a year when ICICI Securities Ltd. price can reach defined target. ICICI Securities Ltd., incorporated in 1995, is a midcap company with a market cap of Rs 11629.30 crore. 
Investment rationale by CLSA
ICICI Securities (I-Sec) is India’s leading equity brokerage with a 10% market share in clients and is among the top financial-product distributors. It benefits from the fictionalization of household savings and an ability to leverage parent ICICI Bank’s brand and reach. 

We project a 21% earnings Cagr over FY18-21, led by rising revenue and efficiencies. Risks include weak capital markets, tighter competition and regulation. The stock trades at a discount to global peers and offers a 3.3% dividend yield (FY19). We initiate with a BUY and Rs520 target. 

Thursday, 14 June 2018

Asian Shares down on Fed Hike, Sino-US Trade Anxiety

Asian Shares Stocks | Trade Nivesh

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The Fed raised its benchmark overnight lending rate a quarter of a percentage point to a range of 1.75 percent to 2 percent, as expected, on the back of strong U.S. economic growth.

Asian shares edged down on Thursday after the Federal Reserve raised interest rates and took a more hawkish tone in forecasting a slightly faster pace of tightening for the rest of the year, while concerns about U.S.-China trade frictions kept investors on edge.

MSCI's broadest index of Asia-Pacific shares outside Japan lost 0.25 percent in early trade. South Korea's KOSPI was off 0.9 percent, while Australia's market slipped 0.2 percent.
Japan's Nikkei shed 0.7 percent.

The Fed raised its benchmark overnight lending rate a quarter of a percentage point to a range of 1.75 percent to 2 percent, as expected, on the back of strong U.S. economic growth.

On Wall Street, the S&P 500 lost 0.40 percent and the Nasdaq Composite dropped 0.11 percent.

The 10-year US Treasuries yield hit a three-week high of 3.010 percent before quickly slipping back to 2.973 percent.
Keeping investors in check were concerns about US threats to impose tariffs on billions of Dollars in Chinese goods.

US President Donald Trump will meet with his top trade advisers on Thursday to decide on whether to activate the tariffs, a senior Trump administration official said.

In the currency market, the Dollar had erased all its post-Fed gains as traders' focus quickly shifted to the European Central Bank's policy meeting later in the day.

Recent comments from top ECB officials have sparked expectations the ECB may offer clues on its intentions to end its bond purchases by the end of year at its upcoming meeting.

The Euro traded at USD 1.1801, bouncing back from USD 1.1725 hit after the Fed's policy announcement and not far off last week's high of USD 1.1840 on June 7.

The Dollar stood at 110.13 Yen, losing steam after hitting a three-week high of 110.85 in the wake of the Fed's decision.
The dollar index has erased all of its gains so far this week and stood at 93.495 .

Oil prices firmed on a bigger-than-expected decline in US crude inventories and surprise drawdowns in gasoline and distillates, which indicated strong demand in the world's top oil consumer.

US crude futures traded at USD 66.64 a barrel, unchanged on the day but extending their recovery from eight-week low of USD 64.22 touched last week.

Bitcoin fell to four-month low of USD 6,120 on Wednesday and last stood at USD 6,442. The cryptocurrency has fallen about 17 percent over the past five days.

 
 
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