Thursday, 29 June 2017

The Nifty Has Taken A Knock Of About 200 Points From Its Record High Of 9,700

Market Live: Nifty opens above 9500, Sensex gains 150 pts; Axis Bank surges
The Nifty has taken a knock of about 200 points from its record high of 9,700 to about 9500 and many stocks have corrected more than 30 percent in the same period.

The Indian market moved in one direction after hitting a low of 7,900 back in December 2016 and since then we haven’t seen any serious correction. And, all the intermediate corrections that we see did not last for more than 200 points.

There are many investors which were waiting on sidelines to get into Indian equity market which has already given 17 percent return so far in the year 2017.

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The Indian Rupee Has Opened Higher By 9 Paise At 64.46 Per Dollar

The Indian rupee has opened higher by 9 paise at 64.46 per dollar against previous close of 64.55.

The dollar fell close to one-year lows against the euro and slipped against sterling as investors priced in tighter monetary policy in Europe.

This after Bank Of England Governor Mark Carney said that the central bank is likely to need to raise interest rates as the British economy comes closer to operating at full capacity. Also the release of disappointing US housing sector data continued to weigh on sentiment.

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Wednesday, 28 June 2017

Nifty Is Likely To Expire In 9500-9600 Range; 5 Stock Which Can Give Up To 14% Return

Trade Setup for Wednesday: Top 10 things you should know before Opening Bell
We have seen aggressive call writing in recent trading sessions as call writers were active in 9,600 and 9,550 strike calls indicating limited upside in the June expiry.

The highest open interest is placed at 9,700 call followed by 9,600 while we are witnessing maximum put open interest at 9,500 strike.

As per the current data, Nifty is likely to expire in the band of 9500-9600 in current series. Till now, most of the Nifty futures has been rolled with the average of 9550 July futures, if Nifty moves above this levels short covering can trigger going forward.

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Equity Benchmarks Extended Losses In Early Trade Wednesday

Equity benchmarks extended losses in early trade Wednesday, with the Nifty opening below 9500 on further correction in PSU banks, healthcare and FMCG stocks.

The 30-share BSE Sensex was down 19.27 points at 30,938.98 and the 50-share NSE Nifty fell 27.70 points to 9,483.70.

ITC, SBI, Bank of Baroda, L&T, Sun Pharma, Lupin and Dr Reddy's Labs were under pressure while Infosys, ICICI Bank and HDFC continued to support the market.

Nifty Midcap lost 0.5 percent as about two shares declined for every share rising.

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Tuesday, 27 June 2017

Primary Sales In The B2C Segments Will Be Sluggish In The Transition Period

Large companies have better prepared IT systems, which could translate into market share gains, he feels.

Primary sales in the B2C segments will be sluggish in the transition period, but he expects a pick-up from the festival season in Q3.

He said while the near-term impact on B2C categories will be negative, considering the productivity gains and possible market share gains, he remains optimistic on larger consumer-facing companies.

Key beneficiaries include HUL, Colgate, Havells, Asian Paints, Titan Industries, Bajaj Electricals, Crompton Greaves and V-Guard.

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The 30-Share BSE Sensex Was Down 41.90 Points At 31,096.31

The 30-share BSE Sensex was down 41.90 points at 31,096.31 and the 50-share NSE Nifty slipped 29.70 points to 9,545.25.

The broader markets underperformed benchmarks, with the BSE Midcap and Smallcap indices falling 0.8 percent each on weak breadth.

More than two shares declined for every share rising on the BSE.

ICICI Bank, Infosys, SBI, Axis Bank, Tata Motors and ONGC were down 1-2 percent whereas ITC, HDFC Bank, HDFC, Adani Ports and M&M outperformed, up 0.6-1.2 percent.

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Friday, 23 June 2017

Wockhardt Shares Gained As Much As 3 Percent In Morning Trade

Wockhardt shares gained as much as 3 percent in morning trade after its subsidiaries settled commercial litigation with Teva Pharmaceuticals.

"Wockhardt UK Holdings and CP Pharmaceuticals, in the United Kingdom have settled an ongoing commercial litigation before the High Court in London, UK in relation to supply contract for a drug named Trisenox," the healthcare firm said in its filing.

The dispute between parties was in respect of the price charged by CP to its counterparty to the contract, Cephalon Inc, an affiliate of Teva Pharmaceuticals USA Inc.

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