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Topic :- Share Market Closing Note
Equity benchmarks recouped more than half of previous days losses on Tuesday, driven by short covering and positive European cues despite lingering North Korea tensions.
The 30-share BSE Sensex was up 107.30 points at 31,809.55 and the 50-share NSE Nifty rose 39.35 points to 9,952.20.
The broader markets outperformed benchmarks on positive breadth. About two shares advanced for every share falling on the BSE.
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Topic :- Time:3.00 PM
Nifty spot close above 9950 will result in some upmove in coming trading session and if it closes below above mentioned level then some sluggish movement is expected. Avoid open positions for tomorrow.
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Topic :- Time:3.00 PM
Nifty spot close above 9950 will result in some upmove in coming trading session and if it closes below above mentioned level then some sluggish movement is expected. Avoid open positions for tomorrow.
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Topic :- Time:2.40 PM
GOLD Trading View:
GOLD is trading at 30072. If it breaks and trade below 30050 level then some decline can be seen however 30000 will act as immediate support to watch out for and if it manages to trade and sustain above 30120 level then some upmove can be seen in it.
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Topic :- Time:2.20 PM
Reliance Nippon Life AMC IPO likely to hit markets by first week of Nov
Reliance Nippon Life Asset Management Companys initial public offer is likely to hit the markets by first week of November, sources in know of the development told Moneycontrol.
Anil Ambani-led Reliance Groups asset management arm had filed draft papers with markets regulator Securities and Exchange Board of India to float an IPO on August 18 which is expected to value the company at about Rs 18,000 crore, according to merchant bankers.
This would be the first initial public offering by an asset management company in India, although UTI Mutual Fund IPO have been in the works for a long time.
According to the draft papers filed with SEBI, the public issue of Reliance Nippon Life Asset Management comprises fresh issue of 2,44,80,000 equity shares, besides an offer for sale of 1,12,30,200 shares by Reliance Capital and 2,54,89,800 scrips by Nippon Life Insurance Company.
The IPO size aggregates to 10 percent of the post issue paid-up capital of RNAM.
The proceeds from the fresh issue will be used for setting up new branches and relocating existing branches, upgrading the information technology system, advertising, lending to subsidiary Reliance AIF, investing in new MF schemes managed by the company, funding inorganic growth and meeting expenses towards general corporate purposes.
Generally, asset management companies are valued at 5 percent of AUM, which is likely to give RNAM a valuation of about Rs 18,000 crore. A 10 percent stake sale could fetch Rs 1,800 crore, according to bankers.
RNAM, jointly owned by Japans Nippon Life and Reliance Capital, is the asset manager to Reliance Mutual Fund with 11.42 percent market share.
It has an asset base of over Rs 3.6 lakh crore, including Rs 2.23 lakh crore for mutual funds.
The company has appointed JM Financial, CLSA, Nomura and Axis Capital as the global coordinators and book running lead managers.
In June, the board of RNAM had approved a proposal to list its shares on the stock exchanges.
RNAM CEO Sundeep Sikka had earlier said that the company initially aims to dilute 10 percent stake by March and further 15 percent over three years as per SEBI norms.
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Topic :- Time:2.00 PM
Nifty is still trading in same range. Nifty spot if manages to trade and sustain above 9940-9945 levels then some upmove is expected and if it breaks and trade below 9920 level then some profit booking can be seen in the market.
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Topic :- Time:1.10 PM
Once again nifty is showing recovery. Nifty spot if manages to trade and sustain above 9935-9940 levels then expect some upmove and if it breaks and trade below 9920 levels then some profit booking can be seen in the Nifty.
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Topic :- Time:12.45 PM
COPPER Trading View:
COPPER is trading at 450.50. If it manages to trade and sustain above 451 level then expect some quick upmove and if it breaks and trade below 449.70 level then some decline can be seen in it.
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Topic :- Time:12.30 PM
Securities in Ban for Trade Date 05-09-2017(F&O Segment):
1. IBREALEST
2. JSWENERGY
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Topic :- Time:12.15 PM
Nifty is looking bit tired however bulls are likely to dominate bears. Nifty spot if breaks and trade below 9920 level then further some decline can be seen and if it manages to trade and sustain above 9940 level then some upmove can be seen.
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Topic :- Time:11.30 AM
Economic Times
Business Standard
Ø No info on black money removed by note ban: RBI
Ø Govt actively weighing option to sell Air India stake in parts
Ø RBI includes HDFC Bank in too big to fail list
Ø Trade on Multi Commodity Exchange halts due to glitch
Ø DBS gets RBI nod to open local subsidiary in India
Ø High collection: GST Council may lower tax rates
Ø RCom to pick one from 9 cos to develop DAKC campus
Ø Coal India sets up monitoring cell for supply to thermal power plants
Ø Crisil lowers GDP forecast to 7% in FY18 post GST hiccups
Ø Virtual currencies like Bitcoin prone to misuse, cautions RBI
Ø ONGC seeks shareholders approval to raise $4 billion
Ø Insurers pull out $4 billion from equities in 2017
Ø Novartis names Indian-origin Vasant Narasimhan as the new Global CEO
Business Line
Mint
Ø Gold hits near 1-year peak as North Korea tensions escalate
Ø Ashok Ley will roll out one LCV every 4-5 months: Nitin Seth
Ø Australian firms eyeing infra projects in India
Ø Odisha govt issues notice to 152 mine lessees for illegal extraction
Ø ADB in talks for energy efficiency credit line
Ø Star India wins IPL global media rights
Ø SC stays NCLTs order on insolvency proceedings against Jaypee Infra
Ø India starts exporting petroleum products to Myanmar
Ø Hindalco earmarks $3 billion for overseas acquisitions
Ø NCLT admits Bank of Barodas IBC plea against Amrapali Silicon City
Ø Delhi HC dismisses Vodafone plea seeking Trai cost model of interconnection charges
Financial Express
Financial Chronicle
Ø Rainfall deficit narrows 3 per cent in this week: MS
Ø Supreme Court refuses to stay new Finance Act
Ø Urtan coal block scam: JSPL confirms to have provided documentary evidence
Ø Nikon expects India to be among top 5 markets in next 3-4 years
Ø McDonalds workers stage companys first strike in Britain
Ø BRICS Summit 2017: India turning into open economy fast, GST biggest reform, says PM Modi
Ø PM calls on BRICS to work closely with intl solar alliance
Ø Birlas enter top league with $50 billion m-cap
Ø SC asks Bombay HC to expeditiously decide RERA-related pleas
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Topic :- Time:11.15 AM
After positive opening nifty is still trading in positive zone. Nifty spot if manages to trade and sustain above 9955 level then expect some upmove and if it breaks and trade below 9925 level then some profit booking can be seen in it.
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Topic :- Time:11.00 AM
As on 05 Sept, 2017.Due to server downtime we were unable to update site earlier but now its fixed and is working fine.
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Topic :- Share Market Closing Note
The benchmark indices snapped three-session long gaining spree on Monday, in line with Asian markets, as North Koreas latest nuclear test prompted investors to seek refuge in safe havens such as gold.
North Korea on Sunday conducted its sixth and most powerful nuclear test, which it said was of an advanced hydrogen bomb for a long-range missile, marking a dramatic escalation of the regimes stand-off with the United States and its allies.
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Topic :- Time:3.15 PM
Nifty spot close above 9920 will result in some pull back in the market and if it closes below above mentioned level then some sluggish movement is expected. Avoid open sell positions for tomorrow.
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Topic :- Time:2.00 PM
Nifty is still trading in same small range. Once above 9900 level will show some quick upmove and if it breaks and trade below 9850 level then some profit booking can follow in it.
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Topic :- Time:1.45 PM
Just In:
Crude palm oil futures gain 0.73% on rising demand.
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Topic :- Time:1.30 PM
ZINC Trading View:
ZINC is trading at 204. It will find immediate resistance to upmove at 205 level. If it holds below 205 level then it is likely to slide down and is expected to test 202 level quite soon. Sell on every rise till it holds below 205 is recommended in it.
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Topic :- Time:1.15 PM
Pradhan says daily petrol, diesel price revision to continue:
Oil Minister Dharmendra Pradhan today said the daily revision in petrol and diesel prices will continue despite petrol price spiking by Rs 6.6 per litre in two months.
Pradhan, who was yesterday elevated as Cabinet minister and given additional charge of Ministry of Skill Development and Entrepreneurship, said the daily revision immediately passes on the benefit of any reduction in international oil prices to consumers and avoids sharp spikes by spreading them in small doses.
He previously was Minister of State (with Independent Charge) for Ministry of Petroleum and Natural Gas. He is now the Cabinet Minister for Petroleum and Natural Gas.
It is in the interest of consumers. I dont think that there is a need for change in it, he told reporters after taking charge as Minister for Skill Development.
State-owned oil companies in June dumped the 15-year old practice of revising rates on 1st and 16th of every month and instead adopted a dynamic daily price revision to instantly reflect changes in cost. Rates during the first fortnight dropped but have been on the rise since July 3.
While petrol prices have increased by Rs 6.6 to reach Rs 69.66 a litre in Delhi, the highest since August 2014, diesel rates have risen by Rs 4.02 to Rs 57.38.
Daily revision in prices is good. When we started daily revisions on June 16, rates dropped in the first fortnight. Thereafter it has increased mainly because of rise in global oil prices, he said.
Daily revision, he said, results in any drop in international oil rates being passed on to consumers immediately rather than having to wait for 15 days. In the reverse scenario when international oil rates rise, pump prices are hiked by few paise per day.
Should prices be hiked by Rs 2.50 or Rs 3 per litre in one go or they should be spaced out in small doses, he asked.
The rate changes are being done on a transparent basis and city-wise prices are available through SMS, he said, adding the daily price change model best reflects the happenings in the market.
Pradhan also said his ministry is seeking approval of the safety organisations for starting home delivery of fuel.
The issue involves safety and we have to first get their approval before a pilot is launched, he said. We are trying to permission.
The government had between November 2014 and January 2016 raised excise duty on petrol and diesel on nine occasions to take away gains arising from plummeting international oil prices. In all, duty on petrol was hiked by Rs 11.77 per litre and that on diesel by 13.47 a litre.
The windfall from the excise duty hikes helped the government bridge its budgetary deficit.
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Topic :- Time:1.10 PM
Nifty spot is trading at 9898.If it manages to trade and sustain above 9910 level then expect some upmove and if it breaks and trade below 9880 level then some profit booking can be seen in the market. As current market sentiments are not favorable due to geopolitical so its advisable to prefer only day trading with strict stoploss.
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Topic :- Time:12.30 PM
Just In:
Infosys promoters including Narayana Murthy, Nandan Nilekeni to sell shares worth Rs 2,038 crore for buyback
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Topic :- Time:12.15 PM
BRICS voices concern over attacks by terror groups like Taliban, Al Qaeda, Pak-based Lashkar-e-Taiba and JeM: news agency PTI.
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Topic :- Time:12.10 PM
Nifty cracking. Nifty spot if breaks and trade below 9870 level then further fall is expected in the market and if it manages to trade and sustain above 9900 level then some pull back is expected. Currently Nifty is at 9883.
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Topic :- Time:11.45 AM
Just In:
Infy promoters offer shares of Rs 2,038 cr for buyback.
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Topic :- Time:11.30 AM
Securities in Ban for Trade Date 04-09-2017(F&O Segment):
1. IBREALEST
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Topic :- Time:11.15 AM
Economic Times
Business Standard
Ø State Bank of India planning $3 bn green bonds
Ø Rajan warned Modi against demonetisation: Book
Ø Sebi firming up rules to classify mutual fund schemes
Ø RBI was never asked about demonetisation: Rajan
Ø China wants India to go slow on Asia-Africa corridor
Ø India condemns North Koreas nuclear test
Ø Credit card growth beats bank loans: RBI
Ø Fresh I-T crackdown on shell firms, 2,138 firms identified
Ø Sebi to detoxify derivatives market; brokers say NSE data overstated
Ø Cabinet reshuffle: Economic ministries work rewarded
Ø Turnaround scheme to drive SAIL towards profitability: Report
Ø L&Ts proposal to expand Powai project gets green nod
Ø Slow GDP growth to delay recovery to December: India Inc
Business Line
Mint
Ø Modi arrives in Xiamen to attend BRICS Summit
Ø Infy promoters offer shares worth Rs. 2,038 cr for buyback
Ø Tata Motors CV sales up 24% in July-August
Ø Produce more special steel to cut imports: Minister to PSUs
Ø Birlas enter top league with $50-bn market cap;Tatas on top
Ø NIC developing e-mail server for all govt officers: Ajay Kumar
Ø Ragh Rajan says he wasnt on board for demonetisation
Ø Brics summit expected to oppose US trade protectionism: China
Ø Nandan Nilekani will not receive any remuneration for his current post: Infosys
Ø Coal India quashes privatisation rumours, says no coal shortage
Ø Govt said to plan setting new gold bourse rules in November
Ø Sun Pharma sees single-digit decline in revenue for 2017-18
Financial Express
Financial Chronicle
Ø NPAs crisis: Raghuram Rajan says banks were reluctant to even recognize problems
Ø Indias economic growth will bounce back, says BRICS Bank chairman K V Kamath
Ø UBS lowers India growth forecast to 6.6 per cent for FY18
Ø Telecom Commission to decide on North East mobile towers project
Ø Finance Ministry writes to heads of PSU banks on consolidation
Ø Scooters India, Shipping Corp, 4 others lined up for strategic sale
Ø Car sales in Aug a mixed bag, two-wheeler makers recover
Ø Apple all set to debut revamped iPhone on September 12
Ø Modi asks taxmen to be friendly to honest taxpayers
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Topic :- Time:10.30 AM
After positive to flat opening nifty is now trading in negative zone. Nifty spot if breaks and trade below 9935 level then further some decline can be seen and if it manages to trade and sustain above 9960 level then some upmove is possible.
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Topic :- Nifty Opening Note
Indian Stock Market Trading View For 04 Sept,2017:
Nifty to turn volatile as the day progresses. Stock specific movement will be there in the market.
Nifty spot if manages to trade and sustain above 10000 level then expect some upmove and if it breaks and trade below 9935 level then some profit booking can be seen in the market. Please note this is just opening view and should not be considered as the view for the whole day.