Wednesday, 16 August 2017

The Indian Rupee Slipped In The Early Trade On Wednesday

The Indian rupee slipped in the early trade on Wednesday. It has opened lower by 16 paise at 64.28 per dollar versus 64.12 Monday.

Pramit Brahmbhatt of Veracity said, "Encouraging US economic data and FII outflows will help the dollar appreciate. We expect the USD-INR to trade in a range of 64-64.50 for the day."

The US dollar strengthened after economic data, including July retail sales, beat expectations and cast the economy in a relatively favourable light.

Among global markets, Asian shares were mostly higher in early trade as investors digested earnings releases from regional corporates and a resurgent dollar.

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Equity Benchmarks Continued With Its Positive Momentum

Equity benchmarks continued with its positive momentum from the previous session and opened on a good note, with the Nifty reclaiming 9800-mark.

At 9:16 am, the Sensex was up 77.14 points at 31526.17, while the Nifty rose 23.05 points at 9817.20. The market breadth was positive as 626 shares advanced against a decline of 186 shares, while 27 shares were unchanged.

Midcaps were back in favour as they outperformed the benchmarks, while other gainers included FMCG, auto stocks and metals.

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Monday, 14 August 2017

Nifty Midcap Was Up 1.5 Percent On Strong Market Breadth

Nifty Midcap was up 1.5 percent on strong market breadth. About five shares advanced for every share falling on the NSE.

Suzlon Energy, CESC, BEML, Adani Ports, DLF, Sun TV, CG Power, JP Associates, GVK Power, GMR Infra, Techno Electric, Voltamp Transformers and Mercator surged up to 7 percent.

Shares of Suzlon Energy added 10 percent intraday as the company turned profitable in the quarter ended June 2017.

The company has reported net profit of Rs 63.7 crore in the quarter ended June 2017 against the loss of Rs 257 crore, in the same quarter last fiscal.

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Sensex Rises 200 Pts, Nifty Eyes 9,800; Midcap Outperforms

Benchmark indices remained strong in morning trade as the Sensex was up 219.35 points at 31,432.94 and the Nifty rose 70.95 points to 9,781.75.

More than four shares advanced for every share falling on the BSE. Aditya Narain of Edelweiss said the research house sees the market at 11,100 in June 2018.

"Our preferred themes would be the savings shift, consumer discretionary step-up, lower rates and India build / process capex," he said, adding overweights are banks & financials, consumer discretionary/durables, cement & construction.

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Friday, 11 August 2017

The Dollar Extended Losses Against The Yen To Hit A New Two Month Low

The dollar extended losses against the yen to hit a new two-month low. It was down 0.1 percent at 109.07 yen, after retreating 0.8 percent on Thursday.

Japan is the world's biggest creditor country and there is an assumption that investors there will repatriate funds in a crisis.

Weakness in US Treasury yields may also be supporting the yen, some analysts said.

US Treasury yields fell to as low as 2.197 percent, their lowest level since June 28 overnight. They were at 2.201 percent early on Friday.

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Sensex Slumps 300 Pts, Nifty Holds 9700; Cochin Shipyard Surges 22%

Shares of J Kumar Infraprojects and Prakash Industries were locked at 20 percent lower circuit in the opening trade on Friday.

These shares traded for the first time today after they were banned for trading on SEBI order since Tuesday.

On Thursday evening, the Securities and Appellate Tribunal has stayed SEBI's order against J Kumar Infra & Prakash Industries, which were among the 331 companies that the market regulator had suspected as 'shell' companies.

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Thursday, 10 August 2017

Nifty Has Strong Support At 9850; 4 Stocks Which Can Give Up To 26% Return

The Nifty formed a smaller bear candle which maintained a lower high lower low compared to the previous session as the index extended losses for the third consecutive session.

The index has taken a breather on expected lines as the five-week strong rally of over 7 percent since June 2017 lows pushed the weekly momentum oscillators into overbought zone.

Historically, since 2013 it has been observed that the index has not formed more than five consecutive bull candles on a weekly scale.

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