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Topic :- Share Market Closing Note
Sensex up over 280 pts, Nifty ends above 10,200; banks recover in last hour:
The market has ended first session of the new fiscal on a strong note, with the Sensex gaining over 280 points, while the Nifty has managed to end above 10,200. A gain in pharma, auto, IT and infra names pushed the indices in a strong zone, but a last hour recovery in the Bank Nifty aided sentiment and helped both close around high points of the day. The market breadth favoured the advances.
The Sensex is up 286.68 points or 0.87% at 33255.36, while the Nifty is up 98.10 points or 0.97% at 10211.80.
Adani Ports, Kotak Mahindra Bank, and Cipla have gained the most on both indices, while ICICI Bank, Axis Bank, and IOC were the top losers.
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Topic :- Time:3.00 PM
Nifty showing some momentum. Nifty spot close above 10205 will result in some further pull back in the market and if it closes below above mentioned level then some sluggish movement can follow.
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Topic :- Time:2.30 PM
GOLD Trading View:
GOLD is trading at 30587. If it manages to trade and sustain above 30600 level then it is likely to show some quick upmove and if it breaks and trade below 30540 level then some profit booking can follow in it.
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Topic :- Time:2.00 PM
Nifty is in small range. Avoid big trades and one should wait for trend to be clear.
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Topic :- Time:1.30 PM
CRUDEOIL is trading at 4239. If it manages to trade and sustain above 4240 level then expect some quick upmove in it and is expected to test 4280 level quite soon and if it breaks and trade below 4230 level then some profit booking can follow in it.
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Topic :- Time:1.10 PM
RBI asks Axis Bank to reassess CEO Shikha Sharmas 4th term, look for successor:
Reserve Bank of India (RBI) has asked Axis Banks board to reconsider the fourth term accorded to Chief Executive Officer (CEO) Shikha Sharma, The Economic Times reported.
Although Sharma had been given a fourth term last year, the latest development seems to be a sign of precaution taken by the central bank on the back of multiple frauds coming to light at public sector banks (PSBs).
In a letter addressed to Axis Bank Chairman Sanjiv Misra, RBI urged a review of the decision citing the banks performance and its deteriorating asset quality, among other reasons. The regulator urged the banks board to give Sharma a one-year term and scout for a successor during the period.
A bank spokesperson was quoted by the newspaper as saying, The banks board follows a standard process on senior appointments, and forwards its recommendations to the regulator. This process is currently in progress and we are unaware of any final decision on this issue. The source added that the all communication between the bank and RBI were confidential.
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Topic :- Time:1.00 PM
Nifty is trading in a very tight range. Nifty spot if manages to trade and sustain above 10180 level then expect some upmove and below 10150-10140 levels some softness can be seen in the market. Avoid big trades for some time.
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Topic :- Time:12.40 PM
Just In:
Indian Oil plans $22 billion expansion over five years.
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Topic :- Time:12.30 PM
COPPER Trading View:
COPPER is trading at 440.60. If it breaks and trade below 440 level then it is likely to show some decline and if it manages to trade and sustain above 440.90 level then some further upmove can follow in it.
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Topic :- Time:12.00 PM
Nifty is trading in a very small range. Nifty spot if manages to trade and sustain above 10180 level then expect some upmove and if it breaks and trade below 10150-10140 levels then some softness can be seen in it.
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Topic :- Time:11.30 AM
News Wrap Up:
1. Indices range-bound, Nifty below 10,150 mark; PSU banks slip
2. H-1B visa application process begins Apr 2; zero tolerance for minor errors
3. Capital goods, construction firms see 69% jump in new orders in FY18
4. Day 1 sees no major glitch for e-way bill, says GSTN chief executive
5. Private equity investments decline 49% to $3.7 billion in March quarter
6. ICICI Bank falls 5% as ED initiates enquiry in ICICI-Videocon loan
7. Sandhar Techno makes decent debut; lists 4% higher from issue price
8. Karda Constructions makes weak debut; lists 24% below issue price
9. Dilip Buildcon surges 12% on winning new highway projects from NHAI
10. Number of delisted companies on the rise; bourses may see more exits
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Topic :- Time:11.00 AM
New financial year started on a strong note. Nifty spot if manages to trade and sustain above 10160 level then expect some further upmove in the market and if it breaks and trade below 10140 level then some softness can follow in the Nifty.
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Topic :- Nifty Opening Note
Indian Stock Market Trading View For 02 March,2018:
After long weekend some action work is expected in the market. Following global cues nifty is likely to turn volatile as the day progresses.
Nifty future if manages to trade and sustain above 10140 level then expect some upmove in the market and if it breaks and trade below 10080 level then some softness can be seen.
Please note this is just opening view and should not be considered as the view for the whole day.