Indian
Indices: Asian markets opened flat with profit booking seen on opening bell
even as the US indices chase new highs daily. Globally the equity rally
gathers steam with the developed markets seeing new all time highs, led by
the US & German indices. The Brazilian 'Bovespa' also seems to be seeing
huge interest with new 52 week highs being seen on a regular basis in tandem
with the US indices.
Nifty succumbed to profit booking in mid session& broke most near
term supports to hit 8715 as the carnage in Tata Motors spoilt sentiment.
With expiry for derivative contracts next Wednesday expect higher than normal
volatility as foreign flows continue to buy the falls & protect the
downsides. For today expect IT & energy to see buying while auto, metals
& banks could see further selling on the downside.
The BSE
Sensex is currently trading at 28185.31, up by 29.75 points or 0.11% after
trading in a range of 28146.19 and 28264.67. There were 18 stocks advancing
against 12 stocks declining on the index.The broader indices were trading in
green; the BSE Mid cap index was up by 0.53%, while Small cap index was up by
0.57%.The CNX Nifty
is currently trading at 8737.80, up by 13.10 points or 0.15% after trading in
a range of 8719.60 and 8751.45. There were 31 stocks advancing against 20
stocks declining on the index.
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MARKET
INDICATORS
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·
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Group ATopGainers
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|
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Company
|
Price (Rs)
|
% chg
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JPAssociat
|
13.25
|
9.69
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IIFL
|
355.80
|
4.68
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Edelweiss
|
116.30
|
3.98
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Jindalstel
|
92.90
|
3.51
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Group ATopLosers
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|
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Godrejind
|
502.00
|
-3.43
|
Southbank
|
19.90
|
-2.69
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DEN
|
81.65
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-1.63
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ITC
|
269.10
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-1.57
|
|
|
|
|
|
|
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Market
Statistics
|
|
|
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BSE
|
NSE
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Advances
|
503
|
280
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Declines
|
1673
|
1227
|
|
|
|
|
|
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Technical view: Nifty could find support close to 8675 while 8775
will act as resistance. Bank Nifty finds strong support @ 20000 while 20350
will act as resistance & the weekly expiry today could see volatility
spurt intraday.
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INDEX
PERFORMANCE
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Indices
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Support
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Resistanes
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Sensex
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8769
|
8845
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Nifty
|
28261
|
28460
|
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Trading
ideas :HDFC BANK (Buy above Rs 1324 for target of Rs 1354, SL at Rs 1310): HDFC Bank has
broken out from a trading range and also closed above the immediate crucial
resistance of Rs 1320. The breakout in yesterday's session comes with
impressive volumes, and confirm the continuation of the primary uptrend. We
advise to Buy HDFC BANK above Rs 1324, stop loss at Rs 1310 and Target of Rs
1354.
Corporate
Snippets: Reliance Infrastructure has decided to reboot its engineering, procurement and construction
(EPC) business after scaling it down in the past 3-4 years due to slowdown in
orders and shrinking margins.
DLF has decided
to extend the deadline for sale of 40% stake owned by its promoters in its
rental arm DLF Cyber City Developers (DCCDL) to March 2018.
Piramal Fund
Management (PFM), arm of Piramal Enterprises, has sanctioned investments worth about Rs20bn within
three months of launching lease rental discounting (LRD) for
completed commercial assets that include office and retail space.
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Nifty Movers: The top gainers on Nifty
were Sun Pharma up by 2.30%, Tata Motors - DVR up by 1.71%, Infosys up by
1.68%, Eicher Motors up by 1.65% and Tata Motors up by 1.62%. On the flip side, ICICI Bank down by 1.99%,
Dr. Reddy’s Lab down by 1.54%, BPCL down by 1.53%, ITC down by 1.41% and
Adani Ports & Special Economic Zone down by 1.23% were the top losers.
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Top Sectoral& Stock Screening: The top gaining
sectoral indices on the BSE were Realty up by 2.30%, IT up by 1.23%, Consumer
Durables up by 1.06%, TECK up by 0.96% and Auto up by 0.68%, while FMCG down
by 0.65% and Bankex down by 0.03% were the only losers on BSE.
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On the global front: On the global front, Asian shares were trading
mostly in red, as markets tread cautiously on growing prospects for a Fed
rate hike in March. Japan’s stock exchange fell with Toshiba shares down amid
mounting troubles over efforts to restructure operations after a massive
write-down related to its US nuclear unit.
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Global Signals: The Asian
markets were trading mostly in red; Nikkei 225 decreased 96.96 points or 0.5%
to 19,341.02, Taiwan Weighted decreased 40.64 points or 0.41% to 9,759.12,
Jakarta Composite decreased 4.28 points or 0.08% to 5,376.39, FTSE Bursa
Malaysia KLCI decreased 3.06 points or 0.18% to 1,706.73 and KOSPI Index
decreased 2.85 points or 0.14% to 2,081.01. On the other hand, Shanghai
Composite increased 8.11 points or 0.25% to 3,221.10 and Hang Seng increased
74.91 points or 0.31% to 24,069.78.
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