Monday, 31 July 2017

Hong Kong's Hang Seng Index Rose 0.35 Percent While Mainland Markets

China manufacturing expansion slows in July

Hong Kong's Hang Seng Index rose 0.35 percent while mainland markets digested the release of slightly lower-than-expected China PMI data. The Shanghai Composite was flat and the Shenzhen Composite slipped 0.139 percent.

In China, official manufacturing PMI for July stood at 51.4, compared to a Reuters forecast of 51.6. The July figure was also below June's reading of 51.7. Meanwhile, the official services PMI came in at 54.5 for July, compared to the 54.9 seen in June.

While manufacturing PMI data tends to be more closely watched, China's pivot toward domestic consumption and away from investment-led growth means the services sector accounts for a bigger slice of the mainland economy.

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HDFC Announced That It Is Going To Divest 9.57 Percent

HDFC announced that it is going to divest 9.57 percent of its stake in HDFC Life.

We are not supposed to discuss the timeline but our intention is to get the initial public offering out as soon as possible, said Amitabh Chaudhry, MD & CEO of HDFC Life.

Had started work on HDFC Life's IPO last year itself, he added.

He further said that a lot of the general insurance companies have been filing for IPOs lately.

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Friday, 28 July 2017

Stocks In The News: L&T, ITC, ONGC, Sun Pharma, Claris Life, Duke Offshore, Dish TV

-Claris Life completes sales of its global generic injectables business to Baxter

-Shikha Sharma re-appointed as the Managing Director & CEO of Axis Bank for a period of 3 years

-Duke Offshore wins order to support specialized dredging operations with MNC JV Partner at Mumbai Harbour

-IDBI Bank - Ind-Ra downgrades Upper Tier II bond and Perpetual Bond to BBB+/Negative

-Nava Bharat Ventures’ 300 MW Power Plant of Maamba Collieries has achieved Provisional acceptance under the EPC contract

-Oriental Carbon - ICRA Revises rating to A+ on term loan facilities

-NCLT approves scheme of arrangement between Videocon D2H & Dish TV

-Sun Pharma raises stake in Zenotech from 46.85 percent to 57.56 percent

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Nifty Struggles Below 10,000, Sensex Under Pressure; HDFC Extends Gains

Nifty is likely to embark on a treacherous voyage from here on, grappling with multiple gann supply points, Pritesh Mehta, IIFL Private Wealth said.

Three-digit gann number of 101, four digit gann number of 1009 and multiplication of 360 degrees by applying a square of 9 from the significant low of 9,342 is also placed around 10,130.

On higher time frame charts, PRZ of potential ABCD pattern stands near 10,050 mark. So, the point of confluence is seen between 10,050-10,130.

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Thursday, 27 July 2017

Nifty Likely To Move Towards 10,130; 4 Stocks Which Can Give Up To 15% Return

The Nifty hit a record high at 10,025.95 for the first time in history and closed above its psychological level of 10,000 on Wednesday session.

If we look at monthly chart index, it is trading in a rising channel pattern and we have got the first breakout above 9,120 in March 2017 from there we have seen a straight rally up to 10,000.

We still expects the rally to extend further up to 10,350 which is an upper band of the channel. On the other hand, markets are trading in overbought zone, so we may see some correction in the near term.

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The Indian Market Continued Its Bullish Momentum, Backed By Steady Earnings

The Indian market continued its bullish momentum, backed by steady earnings and strong political stability cues from the developments in Bihar on Wednesday. In the opening tick, indices surged to fresh highs.

Having said that, there are experts who still continue to be wary of the rally as it is not commensurate with the fundamentals. UBS Securities believes that from a fundamental perspective, the risk reward is unattractive.

Revenue during the quarter grew by 0.8 percent to Rs 12,149 crore and dollar revenue rose by 3.7 percent to USD 1,884.2 million on sequential basis.

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Wednesday, 26 July 2017

Equity Benchmark Indices Extended Their Gains From The Opening Tick

Equity benchmark indices extended their gains from the opening tick, with the Nifty inching towards reclaiming the historic 10,000-mark.

The Sensex was up 68.05 points at 32296.32, while the Nifty was up 23.05 points at 9987.60. The market breadth was healthy as 1279 shares advanced against a decline of 622 shares, while 72 shares were unchanged.

Tata Steel, Mahindra and Mahindra, Vedanta and Tata Steel gained the most on both the indices, while Asian Paints, Axis Bank and Bharti Infratel were the top losers.

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The Nifty Hit A Record High Of 10,000 For The First Time In History On Tuesday

The Nifty hit a record high of 10,000 for the first time in history on Tuesday, but looking at analyst estimates for the index, 10K just look like another number. Most analysts on D-Street expects the index to rally up to 10,500-11,000 levels by December 2017.

The journey will not be as smooth which we saw so far in 2017 but some more consolidation cannot be ruled out, suggest experts but the broader trend looks intact which is still on the upside.

Investors should wait for initiating fresh long positions at current levels and re-enter on dips. Most analysts do not rule out a dip of 2-3-4 percent from current levels. But, considering the fact that liquidity remains strong, most dips will be bought into.

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Tuesday, 25 July 2017

The 30 Share BSE Sensex Was Up 30.78 Points At 32,276.65

Equity benchmarks came off day's high after the Nifty hit 10,000 level.

The 30-share BSE Sensex was up 30.78 points at 32,276.65 and the 50-share NSE Nifty gained 9.75 points at 9,976.15.

About 919 shares advanced against 589 declining shares on the BSE.

Equity story of India is going to continue and still very convinced that equity will be one of the best asset classes to invest in 3-5 years, Madhu Kela, Market Expert said.

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Nifty Hits Historic High Of 10,000 In Opening; HDFC Bank, ICICI Lead

As much as 50 companies on the BSE will be declaring their results for the quarter ended June 30 later today which include names like Asian Paints, Axis Bank, Bharti Airtel, Hero MotoCorp, Vedanta to name a few.

Global rating agency Moody's affirmed ratings of nine banks, including Bank of India, Punjab National Bank and Axis Bank, at Baa3/Prime-3, and downgraded the ratings of Indian Overseas Bank and Central Bank of India to Ba3 from Ba1.

Other banks whose rating was affirmed are Bank of Baroda, Canara Bank, Oriental Bank of Commerce, Syndicate Bank, Union Bank of India and ICICI Bank.

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Monday, 24 July 2017

Stocks In The News: HDFC Bank, Lupin, ITC, Dr Reddy's, Divis Labs, Amtek Auto, D-Mart

-Lupin's Goa facility inspection concluded by US FDA without any observation

-Amtek Global Technologies Pte. Ltd, subsidiary of Amtek Auto has entered into an arrangement to sell its UK based subsidiaries' plants to Liberty Group

-Astrazeneca Pharma launches Osimertinib and Tagrisso in India

-Tata Sponge receives in principle approval for setting a steel plant of capacity upto 1.5 MTPA, in phases at Beleipada, Keonjhar district, Odisha

-Tata Teleservices - ICRA revises outlook to stable from negative on all fund based activities

-Speciality Restaurants says opening of new 'POH (Progressive Oriental House)' restaurant at Mumbai

-Colgate's Global CEO says can't brush off Patanjali effect: ET

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Sensex Extends Rally, Nifty Hits 9950; ITC Soars 2% On Price Hike

Shares of Avenue Supermarts, the operator of D-Mart retail chain, gained 5.5 percent intraday on the back of strong June quarter numbers.

The company's Q1 net profit increased 47.7 percent at Rs 174.7 crore versus Rs 118.4 crore, in the same quarter last fiscal.

Total income of the company was up 35.7 percent at Rs 3,598 crore versus Rs 2,652.4 crore.

The company's operating profit was up 29.2 percent at Rs 303 crore and EBITDA margin increased at 8.4 percent.

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Friday, 21 July 2017

Wipro Shares Surged More Than 8 Percent Intraday After Higher Than Expected Worth

Wipro shares surged more than 8 percent intraday after higher-than-expected worth of share buyback and good June quarter earnings despite subdued Q2 dollar revenue guidance and analysts' negative stance.

The India's third largest IT firm Wipro on Thursday announced a mega buyback offer of Rs 11,000 crore, joining the growing roaster of IT firms that are returning surplus cash to their shareholders.

The company will purchase up to 343.75 million equity shares of Rs 2 each and the buyback price will be Rs 320 per equity share for up to Rs 11,000 crore.

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Reliance Industries Q1FY18 Review: Firing On All Cylinders

Reliance AGM LIVE: What does Mukesh Ambani have up his sleeve?
The fiscal started on a strong note for Reliance Industries with record consolidated profit aided by strong gross refining margin in the refining segment and record margin in the petrochemical business.

The key segment of Refining registered 18% year on year growth in topline and reported Gross Refining Margins of $ 11.9/bbl as against $ 11.5/bbl in the previous and the corresponding quarter. 

Despite flat Singapore Complex Margin, Reliance’s GRM outperformed Singapore complex margins by $ 5.5/bbl. The marginally weaker product cracks were offset by yield shift and robust feedstock management. Favourable Brent-Dubai differential also aided crude sourcing during the quarter.

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Thursday, 20 July 2017

Sensex Opens Above 32000, Nifty Moderately Higher; HPCL Down, ONGC Up

The 30-share BSE Sensex was up 62.88 points at 32,018.23 and the 50-share NSE Nifty gained 14.40 points at 9,914.00. About two shares advanced for every share falling on the BSE.

Coal India, ITC, Kotak Mahindra Bank and Bharti Airtel were early gainers among largescaps.

In the broader space, Canara Bank, Mindtree, KPIT Technologies and Marico fell up to 4 percent while Just Dial, Sintex Industries, Balrampur Chini, Triveni Engineering, Bajaj Hindusthan, Mastek, Tata Elxsi, Jain Irrigation, Sterlite Technologies and MRPL gained nearly 7 percent.

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Stocks In The News: ONGC, RIL, Wipro, Mindtree, Canara Bank, HPCL, Godrej Ind, Just Dial

-Just Dial board meeting on July 24 to consider buyback

-Piramal Enterprises enters into JV agreement with Bain Capital, to transfer 50 percent in held in Piramal Asset reconstruction to Bain Capital

-Bhageria Industries commissions entire 30 MV solar plant at Ahmednagar

-Elpro International board to consider rights issue

-Atlas Cycles board meeting on August 4 to consider sub division of equity shares

-Trent board approves entering into definitive agreement with Trent Hypermarket Private Limited, a JV of the company, for acquiring their value fashion apparel business

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Wednesday, 19 July 2017

Sensex Jumped Upto 40% In Last Four Presidential Poll Years

It might be a coincidence or sheer luck, but whenever India went to polls to select its new president, the stock market has given a double-digit return on 3 out of 4 occasions in the last 20 years.

Although there is no logical connection between the Sensex and presidential elections, but anecdotal evidence suggest that D-Street is likely to fare better in 2017. The Indian market has already rallied 20 percent so far in 2017 and if history holds true then we should close the year on a high note.

Parliamentarians voted to elect the 14th President of India earlier this week and the results will be declared on July 20.

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Wall Street Had Ended Tuesday Mixed After A Heavy Dose

Wall Street had ended Tuesday mixed after a heavy dose of corporate earnings, with the Dow dragged by Goldman Sachs but the Nasdaq reaching a record high.

The Dow fell 0.25 percent, while the S&P 500 gained 0.06 percent and the Nasdaq 0.47 percent.

The Nasdaq's run of gains was saved by Netflix which jumped 13.5 percent on strong customer numbers. IBM , however, fell 2 percent after the bell when its revenue missed forecasts.

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Tuesday, 18 July 2017

Nifty Faces Profit Booking; 5 Stocks To Buy Today Which Can Give Decent Gains

Sell ITC on rallies; buy Vedanta, JSPL, Ashok Leyland, HUL, Chambal Fert: Gujral


The Nifty opened with the gains of nearly 20 points and traded within the small range of 30 points throughout the day while Sensex opened with the gains of around 30 points and traded within 70 points tight range for the day showing gradual buying and participation of the traders at higher levels.

The market is looking moderately bullish as the bulls are still in control of the bears, supported by gradual upwards moving momentum indicators on the daily charts and traders should be very cautious at these higher levels whereas any dip should be treated as an opportunity of going long.

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Nifty Below 9900, Sensex Loses 250 Pts; ITC Crashes 14% On Cess Hike

HDFC, Infosys, TCS, Wipro and ACC gained up to 1.5 percent while Bharti Airtel surged 5 percent.

About two shares declined for every share rising on the NSE.

Shree Digvijay Cement, Linde India, Max Financial and Jubilant Foodwors lost up to 5 percent while Fortis Healthcare and Aditya Birla Nuvo gained up to 5 percent.

The company's consolidated profit grew by 32.6 percent year-on-year to Rs 326.2 crore despite higher tax expenses. The growth was driven by strong operating income and revenue.

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Friday, 14 July 2017

Majority Of Stocks Showing Fresh Breakouts! 5 Stocks Which Can Give Up To 8% Return

A break above 9,700 and renewed buying interest in Bank Nifty has brushed aside the concerns of June’s steep fall from the peak 9,699.

The market’s focus has turned holistic with midcap and smallcap staging rallies of 6 and 7 percent, respectively from their recent lows. Both indices are trading below the May 2017 peak.

Within these spaces, majority of stocks are showing signs of fresh breakout and follow-up buying. The stock-specific action based on spotting pockets of strength is hence an ideal approach in the current scenario.

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Sensex Erases All Gains, Nifty Below 9900; Tata Group Stocks Down

After seeing a positive opening, benchmark indices erased all of its gains, while the Nifty was off the 9900-mark.

The Sensex was down 47.71 points at 31989.67, while the Nifty was down 19.00 points at 9872.70. The market breadth was negative as 764 shares advanced against a decline of 1,237 shares, while 98 shares were unchanged.

Infosys, Cipla, Aurobindo Pharma and Bharti Infratel gained the most on both indices, while TCS and Tata Motors DVR were the top losers.

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Thursday, 13 July 2017

Stocks In The News: TCS, Religare Enterprises, Hatsun Agro, Pincon Spirits, Cadila


-Adani Enterprises board meeting today

-Speciality Restaurants grants rights to franchisee to open 3 restaurants under its brand 'Mainland China Asia Kitchen' in United Arab Emirates

-Cadila Healthcare's Pankaj Patel steps down as MD, Dr Shravil Patel appointed as MD

-Patel Integrated Logistics board approves allotment of 6.4 lakh shares at a price of Rs 115 to Front line Strategy

-Future Lifestyle Fashions in focus - CARE upgrades rating to AA- from A+ on long term bank facilities

-Jindal Saw board decides to amalgamate subsidiaries

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Sensex Hits 32000, Nifty Eyes 9900 In Opening After Inflation Data

The 30-share BSE Sensex was up 189.99 points at 31,994.81 and the 50-share NSE Nifty rose 56.50 points to 9,872.60 on strong breadth.

About five shares advanced for every share falling on the BSE. Vedanta, Tata Steel, Tata Motors, SBI, Infosys and GAIL were early gainers.

The broader markets also participated in the rally, with the Nifty Midcap 100 up 0.5 percent.

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Wednesday, 12 July 2017

Nifty Hovers Around 9800, Sensex Holds Gains; IT, Banks Down

The broader markets also participated in uptrend on positive breadth. About 761 shares advanced against 244 declining shares on the BSE. Nifty Midcap 100 gained 0.5 percent.

Biocon surged 8 percent while Tilaknagar Industries, Globus Spirits, United Breweries and United Spirits rose 1-10 percent.

HUDCO, CDSL, AU Small Finance and PNC Infratech continued to rally, up 2-6 percent whereas CCL Products and Vista Pharma were down 4-6 percent.

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Equity Benchmarks Continued To Trade With Moderate Gains

Equity benchmarks continued to trade with moderate gains, with the Nifty hovering around 9,800 level. Auto, FMCG, Metal and Pharma indices gained whereas IT and Bank indices were under pressure.

The 30-share BSE Sensex gained 28.83 points at 31,775.92 and the 50-share NSE Nifty rose 12.45 points to 9,798.50.

The broader markets were also moderately higher as about 1,221 shares advanced against 949 declining shares on the BSE.

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Tuesday, 11 July 2017

Cadila Healthcare Shares Gained Over A Percent In Morning Trade

Cadila Healthcare shares gained over a percent in morning trade Tuesday on tentative approval from the US health regulator for Lurasidone Hydrochloride tablets.

Lurasidone is a generic version of Latuda that is used to treat schizophrenia.

Gautam Duggad of Motilal Oswal said positive macro factors notwithstanding, the quarter would be faced with several sector-specific headwinds and GST-related de-stocking in some B2C sectors.

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Equity Benchmarks Extended Yesterday's Gains In The Opening On Tuesday

Nifty could gain 28 points at opening bell: Maximus Securities

Equity benchmarks extended yesterday's gains in the opening on Tuesday, hitting fresh record highs.

The 30-share BSE Sensex was up 86.39 points at 31,802.03 and the 50-share NSE Nifty rose 25.55 points to 9,796.60. About three shares advanced for every share falling on the BSE.

Lupin, Tata Power, SBI, BPCL, Bajaj Auto, Aurobindo Pharma and Sun Pharma were early gainers while Bharti Airtel lost 0.8 percent after yesterday's 5 percent rally.

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Monday, 10 July 2017

Gayatri Projects Ltd. Went Through A Series Of Consolidation Phase

Gayatri Projects Ltd. went through a series of consolidation phase during the past few weeks but gained the momentum after the volume breakout witnessed during the current trading session.

Despite a sluggish moment in early trading session, the stock gained a momentum after making a low of Rs152 to close with 12 per cent gain on weekly basis.

The technical outlook for stock suggests a strong upward trend with RSI at 65 which supports a further buying regime, while the MACD at 1.49 shows a crossover from its Signal-Line which indicates a bullish rally in upcoming sessions.

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Nifty Formed A Long Bullish Candlestick Pattern

On the daily chart, Nifty formed a long bullish candlestick pattern, which indicates a bigger rally to trigger ahead of Q1 earnings disclosure. With the possibility of a breakout from either side ahead of earnings data, the market will have sideways exposure.

If it breaks out at 9700 on a closing basis, momentum may take the rally up to 9800 to 9950 level on a shorter term. The RSI of Nifty currently stands at 62 which indicates a positive trend as Nifty prepares to price positively to the aftermath of GST effect.

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Friday, 7 July 2017

Asian Paints, Axis Bank And Maruti Suzuki Were Top Contributors To Sensex' Losses

The 30-share BSE Sensex was down 52.98 points at 31,316.36 and the 50-share NSE Nifty fell 22.40 points to 9,652.15.

HDFC, ITC, ICICI Bank, Infosys, Tata Motors, Asian Paints, Axis Bank and Maruti Suzuki were top contributors to Sensex' losses.

Lupin was biggest gainer, up 4.5 percent followed by Dr Reddy's Labs with 2 percent upside.

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Stocks In The News: SBI, Tata Motors, Bharti, GM Breweries, Unichem, Bharat Forge


-Unichem Labs gets US FDA nod for Quetiapine Fumarate tablets

-Glenmark gets US FDA nod for Olmesartan Medoxomil tablets

-Eros International says SREI Equipment Finance acquires 7.4 percent stake in company via pledged shares on July 3

-Motilal Oswal seeks shareholder nod to raise up to Rs 1,000 crore

-Bharat Forge in focus - Kalyani Group and Israel Aerospace Industries expands JV to build new maintenance centre in India for selected advanced air defense system

-Balaji Amines has received approval from Government of India for expansion project which includes Acetonitrile, Morpholine & Di Methyl Amine Hydrochloride products

-Virinchi board approves allotment of 1,33,500 shares on exercise of options granted

-IDFC neither confirms nor denies story of merger

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Thursday, 6 July 2017

Tata Motors Gained More Than A Percent Intraday Despite Slow Growth

Tata Motors gained more than a percent intraday despite slow growth in Jaguar Land Rover sales.

JLR sales during June increased 7 percent to 9,161 units against 8,591 units sold in same month last year, driven by Land Rover.

Land Rover sales grew by 9 percent to 6,201 units while Jaguar sales increased 1 percent to 2,960 units compared with corresponding month last year.

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Sensex Jumps 160 Pts, Nifty Eyes 9,700; PSU Bank Zooms Nearly 3%

Benchmark indices rallied further in late morning trade, with the Sensex rising more than 150 points on the back of strong rally in PSU banks.

The 30-share BSE Sensex rose 163.61 points to 31,409.17 and the 50-share NSE Nifty gained 41.05 points at 9,678.65.

The broader markets continued to rally on strong breadth. About two shares advanced for every share falling on the BSE.

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Wednesday, 5 July 2017

Timken India Gained Nearly 5 Percent

Shares of ABC Bearings has locked at 20 percent upper circuit and Timken India gained nearly 5 percent as ABC Bearings is going to merge with the later one.

The board of directors of ABC Bearings at its meeting held on July 4, has approved the merger of ABC Bearing into Timken India through a scheme of amalgamation and arrangement amongst ABC Bearing, Timken India and their respective shareholders and creditors," ABC Bearings said in press release.

The said scheme is subject to the approval of the shareholders and creditors of ABC Bearings, approval of the regulatory authorities and the sanction of the National Company Law Tribunal.

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Sensex, Nifty Open Moderately Higher; RIL Leads, HDFC Loses

HDFC lost a percent on exposure to NPA accounts Insolvency and Bankruptcy Code. Infosys, Maruti Suzuki, Tata Steel and Hindalco Industries were under pressure.

The broader markets gained too, with the Nifty Midcap up 0.3 percent as about two shares advanced for every share falling on the BSE.

Among midcaps, ABC Bearings surged 20 percent and Texmaco Rail was up 10 percent. Jubilant Life, Kesoram Industries, United Spirits, Persistent Systems, Shilpi Cable, Tata Coffee, Jaypee Infratech, Videocon and Venky's were up 1-5 percent.

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Tuesday, 4 July 2017

Nifty Opens Above 9600, Sensex Gains Nearly 100 Pts; ITC Dives

The broader markets also gained in early trade, with the Nifty Midcap up 0.3 percent. Shiva Cement surged 13 percent, taking total rally to 50 percent in five consecutive sessions.

Aditya Birla Money, Grasim Industries, Jindal Poly, Wockhardt, Raymond, Tata Chemicals, Venky's, Rolta India and Jet Airways gained 1-5 percetn. However, Just Dial and Jaypee Infratech lost 2-5 percent.

Asian bourses were mixed after North Korea launched a missile, with the Reserve Bank of Australia's interest rate decision due later.

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Just Dial Share Price Fell More Than 4 Percent In Morning Trade

Just Dial share price fell more than 4 percent in morning trade after submission of resignation by company’s chief financial officer.

Ramkumar Krishnamachari, chief financial officer and key managerial personnel of the company has submitted his resignation on Monday from his post.

"The company has accepted his resignation and decided to relieve Ramkumar Krishnamachari from his duties with effect from September 30, 2017," the local search engine said in its filing.

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Monday, 3 July 2017

The Indian Rupee Opened Lower By 7 Paise At 64.65 Per Dollar On Monday

The Indian rupee opened lower by 7 paise at 64.65 per dollar on Monday versus 64.58 Friday.

India has received USD 1.8 billion of inflows, driven by USD 943 million of ETF inflows and USD 856 million of non-ETF inflows, he added.

He further said Global Emerging Market funds saw USD 988 million of inflows, led by USD 617 million of ETF inflows. India-dedicated funds saw an inflow of USD 614 million, he added.

Allocations to India and China constitute more than one-third of the average Asia ex-Japan fund portfolio. Allocation to India by Asia ex-Japan funds has come down to 13.3 percent in May from 13.6 percent in April.

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The 30 Share BSE Sensex Was Up 130.52 Points At 31,052.13

Expect Nifty to open on positive note: Maximus Securities
ITC also erased some opening gains but still maintained its top position in the buying list among Sensex stocks, up 6 percent.

The 30-share BSE Sensex was up 130.52 points at 31,052.13 and the 50-share NSE Nifty rose 30.75 points to 9,551.65.

About 1,067 shares advanced against 438 declining shares on the BSE.

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