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Thursday, 16 August 2018

Trade Nivesh : Key Indian equity market indices open in red

Taking a cue from muted global markets, the key Indian equity market indices on Thursday opened lower.

The Sensitive Index (Sensex) of the BSE, which had closed at 37,852 points on Tuesday, opened lower at 37,796.01 points.

Minutes into trading, it was quoting at 37,677.12 points, down by 174.88 points, or 0.46 percent.

At the National Stock Exchange (NSE), the broader 51-scrip Nifty was quoting at 11,390.35 points, down by 44.75 points or 0.39 percent.

The markets remained closed on Wednesday for the Independence Day celebrations.

On Thursday, Asian indices were showing a negative trend. Japan's Nikkei 225 was quoting in red, down by 0.35 percent while Hang Seng was down by 0.80 percent, South Korea's Kospi was down 0.99 percent. 

China's Shanghai Composite index was trading in red, down by 0.91 percent.
Overnight, Nasdaq closed in red, down by 1.24 percent while FTSE 100 was also down by 1.52 percent at the closing on Wednesday.

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Tuesday, 14 August 2018

Navneet Education gains 7% as board to consider buyback on August 20

The meeting of the board of directors of the company is scheduled on August 20, to consider and approve the proposal of buyback of the fully paid -up equity share.

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Shares of Navneet Education added 7.6 percent intraday Tuesday as the company is going to consider buyback of its equity shares.

The meeting of the board of directors of the company is scheduled on August 20, to consider and approve the proposal of buyback of the fully paid-up equity shares of the company including matters related/incidental thereto.

The share touched its 52-week high Rs 179.85 and 52-week low Rs 108.60 on 18 September 2017 and 27 July 2018, respectively.

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Saturday, 11 August 2018

Nifty at new highs, but enough good reasons to call it a mirage

The Indian stock market was euphoric this week as it touched new highs on every single day and the market breadth too improve somewhat with smallcap and midcap shares also participating in the rally. 

Our indices were resilient in spite of negative global headwinds regarding tariff wars, sanctions on Iran and political slugfest among the US, China, and Russia.

Once the earnings season gets over, Mr. Market will hopefully adjust to the global realities and will be in line with the global in indices, which have started to move lower. 

The S&P500 index is nearing a double-top, which can be a big signal for global equities. In case the double top turns out to be a long-term reversal, then entire global bull markets would be at risk. 

Bull markets are currently ignoring the confrontational attitude of the US with the rest of the world, which could lead to major disasters. One must always remember that “The bulls prosper in peace and the bears in turmoil.” 

The current new-high anatomy of the market is very peculiar and the internal health of the market is far weaker than the January 2018 top. This is evident from the fact that the number of shares making 52-week highs are currently 36 against 162 during January 2018 top. All-time highs currently are only 27 against 95 during January 2018 top.

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Friday, 10 August 2018

Booked profits from HDFC AMC IPO? Here's how you will be taxed

HDFC Asset Management Company made a stellar debut on the bourses by listing at 58 percent premium over its issue price. Many small retail initial public offering (IPO) investors would have used this opportunity to book profits. The issue price of the HDFC AMC IPO was Rs 1,100 whereas the scrip got listed at Rs 1,739. 

If you are one of the small investors who sold the company's shares at the listing price, you would have made a gain of Rs 639 per share. But before you start celebrating, know how these gains will be taxed. 

Taxation on equity gains 

According to income tax rules, capital gains on equities are taxed according to their holding period. Capital gains are divided into short-term and long-term. 

Any gains made on equity shares sold after holding them for less than a year are called short-term capital gains (STCG). Chetan Chandak, Head of Tax Research, H&R Block India says, "Since the holding period of the shares sold on listing day is less than a year, these gains will be qualified as STCG." 

On the other hand, if you have sold equity shares after holding them for more than a year, then these gains are called long-term capital gains (LTCG). 

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"If you sold these shares through the recognized stock exchange and paid STT on the sale transaction then these gains will be taxable at 15 percent under section 111A of the income tax Act," adds Chandak.

Thursday, 9 August 2018

Share market update: These stocks defy positive market mood, plunge up to 6%

Despite positive market sentiment, shares of NMDC (down 6.56 per cent), Butterfly Gandhimathi Appliances (down 5 per cent) and Manpasand Beverages (down 5 per cent) cracked up to 6 per cent on NSE in morning trade on Thursday. 
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Shares of NMDC fell after the company on Wednesday posted almost flat net profit of Rs 975.27 crore for the June quarter. 

Stocks such as Optiemus Infracom (down 4.98 per cent), Adani Green Energy (down 4.98 per cent), UFO Moviez India (down 4.95 per cent) .. 

Equity market was in the positive territory amid mixed global cues. 

Gains in heavyweights, including ICICI Bank, Infosys, Reliance Industries, Axis Bank and State Bank of India were keeping the market up. 

The NSE Nifty index was trading 30 points up at 11,480, while the BSE Sensex was up 157 points at 38,045 around 10:10 am. 

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Wednesday, 8 August 2018

Market Updates : Indices pare opening gains to turn flat, Nifty tests 11,400

Benchmark indices pared opening gains to turn flat amid lack of any major domestic cues. Globally, Asian shares, that rose on Wednesday on the back of firmer Wall Street earnings while expectations for increased Chinese stimulus helped take the edge off wider concerns about the worsening Sino-US trade dispute.

MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.22 percent while Japan's Nikkei ticked up 0.05 percent.

On Wall Street, the S&P 500 rose 0.28 percent to 2,858, which is just 14 points, or about 0.5 percent, below its record high marked in January.

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A strong second-quarter earnings season fuelled optimism about US economic strength. S&P 500 firms saw a 23.5 percent rise in their April-June profits.

Tuesday, 7 August 2018

HDFC AMC stock trades flat after stellar debut on Monday

The company made a stellar debut on the stock exchanges, listing at Rs1,735/share, a premium of 57.7% over the issue price of Rs1,100 on BSE.

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Shares of HDFC Asset Management Company Ltd, the second largest AMC in India, is currently trading down 0.09% at Rs1,813.55 from its previous closing of Rs1,815.15 on the BSE.

The scrip opened at Rs1,823 and has touched a high and low of Rs1,833 and Rs1,801.10 respectively.

On Monday, shares of HDFC Asset Management Company settled at Rs1,815.15 on BSE, a premium of 65% over the initial public offer (IPO) price of Rs1,100.

The company made a stellar debut on the stock exchanges, listing at Rs1,735/share, a premium of 57.7% over the issue price of Rs1,100 on BSE.

HDFC AMC is a joint venture between Housing Development Finance Corporation (HDFC) and Standard Life Investments. HDFC AMC is the second-biggest mutual fund manager in the country with Rs3.07lakh crore worth of assets under management in the June quarter.

HDFC AMC's Rs2,800cr IPO was open from July 25 -27, 2018 and the price band for the offer was fixed at Rs1,095-1,100/share.

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HDFC's AMC arm had offered 2.54cr shares and the issue had generated huge interest among investors, with the lot being subscribed 83x.

The AMC's equity-oriented AUM to total AUM at 51.3% is much higher than the industry average of 43.2%. The AMC has 209 branches and a network of over 65,000 distributors.

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