Blog for Stock tips, Equity tips, Commodity tips, Forex tips: Sharetipsinfo.com

Indian Indices: Indian equity markets traded in a narrow range throughout the day and ended the session with modest cut. The equity benchmarks recouped losses in afternoon trade turning in positive terrain driven by index heavyweight Reliance Industries that rallied to hit a fresh 52-week high, but it was short lived. The equity benchmarks made a negative start and traded slightly in red in early deals tracking weak global cues and profit booking. Investors took note of Nobel laureate Paul Krugman’s statement that he was puzzled by demonetization and that it was a blunt instrument to tackle the problem of black money and corruption. 

He said that Prime Minister NarendraModi’s performance is a bit below expectations and called on the government and RBI to spur economic growth by cutting rates and increasing fiscal spending. Meanwhile, former Union Finance Minister P Chidambaram said that the aim was for one indirect tax to subsume all the other indirect taxes, but this GST fails to achieve that. Some concerns also came with the report that India slipped by one spot to become the fourth-largest foreign investor into the UK.

The BSE Sensex ended at 31358.58, down by 10.76 points or 0.03% after trading in a range of 31286.62 and 31426.29. There were 15 stocks advancing against 16 stocks declining on the index. The broader indices ended mixed; the BSE Mid cap index was down by 0.03%, while Small cap index was up by 0.28%. (Provisional)

The CNX Nifty ended at 9663.30, down by 11.25 points or 0.12% after trading in a range of 9642.65 and 9684.25. There were 20 stocks advancing against 31 stocks declining on the index. (Provisional)

Crporate Front:

Ministry of Railways on Friday said that it has reformed its recruitment process through induction of digital technology in a big way. “This has brought transparency & efficiency,” said Ministry of Railways. The Ministry said that Railway Recruitment Boards (RRBs) have conducted the world’s largest computer based test for about 92 lakh candidates.

Macroeconomic front: The pan-India Goods and Services Tax (GST) regime is likely to be implemented in Jammu and Kashmir from Friday midnight ending all suspense and speculations on whether the state would become part of the 'one country, one tax' system.
The presidential order extending Amendment 101 to the state was received here earlier on Friday.

On the global front:

On the global front, Asian markets closed mostly in red. The Bank of Japan offered to buy an unlimited amount of JGBs on Friday, as it sought to put a lid on domestic interest rates pushed higher by the broad sell-off in developed market bonds. Its aggressive bond buying operations sent most Japanese government bond yields lower and weakened the yen. European markets were trading in red as investors look out for fresh economic data, a G-20 meeting in Hamburg and continue to mull the possible end of monetary stimulus from central banks.

Commodity Updates:

Top Sectoral& Stock ScreeningThe top gaining sectoral indices on the BSE were Realty up by 1.74%, Energy up by 1.63%, Healthcare up by 1.04%, Telecom up by 0.64% and Oil & Gas up by 0.48%, while IT down by 0.73%, TECK down by 0.47%, Consumer Durables down by 0.38%, FMCG down by 0.30% and Bankex down by 0.24% were the top losing indices on BSE.

Top Nifty Movers: The top gainers on Nifty were Lupin up by 3.58%, Reliance Industries up by 3.29%, AurobindoPharma up by 2.23%, BhartiAirtel up by 1.64% and Zee Entertainment up by 1.41%. On the flip side, BhartiInfratel down by 2.34%, Indiabulls Housing down by 1.73%, ONGC down by 1.61%, Asian P

Global Signals:

Asian markets were trading mostly in red; Hang Seng decreased 124.37 points or 0.49% to 25,340.85, Taiwan Weighted decreased 70.95 points or 0.68% to 10,297.25, Nikkei 225 decreased 64.97 points or 0.32% to 19,929.09, Jakarta Composite decreased 30.23 points or 0.52% to 5,819.35, FTSE Bursa Malaysia KLCI decreased 9.71 points or 0.55% to 1,760.82 and KOSPI Index decreased 7.94 points or 0.33% to 2,379.87. On the flip side, Shanghai Composite increased 5.51 points or 0.17% to 3,217.96.

All European markets were trading in red; Germany’s DAX decreased 18.14 points or 0.15% to 12,363.11, UK’s FTSE 100 slipped 17.94 points or 0.24% to 7,319.34 and France’s CAC was down by 16.66 points or 0.32% to 5,135.74.