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Monday, 18 June 2018

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

Stock Market Closing Bell | Trade Nivesh

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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.

Indian ADRs: Tata Motors, Wipro gain; ICICI Bank down

Indian ADRs News | Trade Nivesh
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Indian ADRs ended mixed on Thursday. Dr Reddy's Laboratories added 1.57 percent and Infosys was down 0.91 percent.

Indian ADRs ended mixed on Thursday. In the IT space, Infosys was down 0.91 percent at USD 18.57 and Wipro rose 1.08 percent at USD 4.70.

In the banking space, ICICI Bank was down 0.23 percent at USD 8.68 and HDFC Bank fell 0.37 percent at USD 104.56.
In the other sectors, Tata Motors gained 0.77 percent at USD 22.33 and Dr Reddy's Laboratories added 1.57 percent at USD 29.73.

Wall Street Falls as Fed Signals two more Hikes this Year

Wall Street Journal | Trade Nivesh

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The Dow Jones Industrial Average fell 119.53 points, or 0.47 percent, to 25,201.2, the S&P 500 lost 11.22 points, or 0.40 percent, to 2,775.63 and the Nasdaq Composite dropped 8.10 points, or 0.11 percent, to 7,695.70.

US stocks ended a choppy session lower on Wednesday after the U.S. Federal Reserve raised interest rates as expected and projected a slightly faster pace of rate hikes this year.

Two more hikes are now expected by the end of this year, compared with one previously.

Stocks were volatile after the statement but ended near the lows of the session, and selling was broad-based, with most S&P sector indexes ending lower. The Cboe Volatility index rose.

Fresh projections from policymakers suggested that inflation would run above the Fed's 2 percent target, hitting 2.1 percent this year and remaining there through 2020.

The Dow Jones Industrial Average fell 119.53 points, or 0.47 percent, to 25,201.2, the S&P 500 lost 11.22 points, or 0.40 percent, to 2,775.63 and the Nasdaq Composite dropped 8.10 points, or 0.11 percent, to 7,695.70.

S&P financials , which tend to benefit from rising interest rates, ended down 0.3 percent.

A ruling Tuesday that approved AT&T Inc's USD 85 billion deal to buy Time Warner Inc put the spotlight on media and telecom shares, which mostly rose.

Shares of HBO channel owner Time Warner rose 1.8 percent. AT&T dropped 6.2 percent in its highest volume day ever, sending the S&P telecom services index down 4.5 percent.

Shares of other telecom and media companies such as Sprint Corp , CBS Corp and Discovery Inc ended higher.

After the bell, Comcast Corp offered USD 65 billion for Twenty-First Century Fox Inc media assets. Twenty-First Century Fox shares were up 0.2 percent in after-hours trading, after closing the regular session up 7.7 percent.

 Comcast shares ended the session down 0.2 percent.
Declining issues outnumbered advancing ones on the NYSE by a 1.99-to-1 ratio.

The S&P 500 posted 40 new 52-week highs and two new lows; the Nasdaq Composite recorded 151 new highs and 24 new lows.

Indian Rupee Opens at 67.54 per Dollar; Gains 10 paise

Stock cash tips | Trade Nivesh

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USD-INR pair is expected to quote in the range of 67.45 and 67.80-67.95, says some sources.

The Indian Rupee gained in the opening trade on Thursday. It has opened higher by 10 paise at 67.54  per Dollar versus 67.64 yesterday.

The USD-INR pair after opening higher came under pressure in the latter half of the session as the Dollar fell against its major crosses. Volatility for the Dollar was confined to a narrow range ahead of the FOMC policy statement that was released last evening. 

The Fed chairman, in line with expectation, raised rates by 25bps and officials projected to raise rates twice more this year, said by sources.

The Fed dropped its pledge to keep rates low enough to stimulate the economy “for some time” and signaled it would tolerate inflation above its 2% target at least through 2020.

Overall the statement was hawkish which was supportive for the Dollar as well as US 10-year yield. Today, USD-INR pair is expected to quote in the range of 67.45 and 67.80-67.95, it added.

Wednesday, 13 June 2018

Sensex, Nifty trade higher; Pharma, IT continue to Shine

Today Equity News | Trade Nivesh

Sensex gained close to 100 points. Nifty Pharma index was up 2%.

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BSE and Nifty continued to trade higher, riding on the back of pharma and IT stocks. Sensex gained close to 100 points. Further, the Nifty Pharma index was up 2%, pushed forth by Dr Reddy’s, Cadila, Cipla, etc. TCS and Infosys surged, pushing the Nifty IT index higher.

At 11.05am, BSE Sensex was at 35,802 up 109 points, while NSE Nifty was at 10,872, up 29 points.

BSE Mid-cap Index is trading up 0.40% at 16,216, while BSE Small-cap Index is trading up 0.39% at 17,132.

Cipla (+4.37%), Dr Reddy’s (+4.26%), Sun Pharma (+2.69%), Axis Bank (+2.67%) and Lupin (+2.65%) were the top gainers on NSE.

Indiabulls Housing Finance Ltd. (-1.62%), ONGC (-1.37%), Zee Entertainment Enterprises Ltd. (-1.19%), Tata Steel (-1.17%) and Vedanta Ltd. (-1.12%) were the top losers on NSE.

Some buying activity is seen in healthcare and information technology, while energy, fast moving consumer goods, telecom, utilities, capital goods, metal and oil and gas are showing weakness on BSE.

The India VIX is down 1.00% at 12.6025.

Out of 2,057 stocks traded on the NSE, 636 declined, 988 advanced and 433 remained unchanged today.

A total of 11 stocks registered a fresh 52-week high in trade today, while 29 stocks touched a new 52-week low on the NSE. 

 
 
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