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Topic :- Share Market Closing Note
Spurred by the governments mega plans to boost economy via recapitalisation of public sector banks and massive road building programme, benchmark equity indices Sensex and Nifty scaled fresh record closing highs on Wednesday.
The 30-share BSE Sensex closed 435.16 points, or 1.33 per cent, up at 33,042.50, while the 50-share NSE Nifty index settled 87.65 points, or 0.86 per cent, up at 10,295.35.
Wednesdays rally was majorly supported by select banking counters as 26 stocks in Nifty index settled in red with Indiabulls Housing Finance falling 5.49 per cent, followed by Bajaj FinanceBSE -5.43 % (down 5.16 per cent) and YES BankBSE -5.92 % (down 4.89 per cent). On the other hand, State Bank of IndiaBSE 27.58 % and ICICI BankBSE 14.69 % soared 27 per cent and 14.56 per cent, respectively.
UltraTechBSE 6.02 % Cement, Larsen & Toubro and Axis BankBSE 4.61 % climbed 5.75 per cent, 5.33 per cent and 4.88 per cent, respectively.
More than 70 stocks on the NSE hit their fresh 52-week highs in Wednesdays trade. The list includes stocks such as Bajaj Corporation, Birla CorporationBSE 0.76 %, EID ParryBSE 3.34 %, GAIL (India), KRBLBSE 1.07 %, GVK PowerBSE 4.99 %, NCCBSE 6.36 % Ltd and Punjab National BankBSE 46.20 %.
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Topic :- Time:2.20 PM
Nifty spot is trading at 10298. If it manages to trade and sustain above 10305-10310 levels then expect some quick jump in the market and if it breaks and trade below 10270 level then some profit booking can follow in Nifty.
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Topic :- Time:2.05 PM
Just In:
UK GDP Results: 0.4% vs th 0.3% estimated before.
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Topic :- Time:1.30 PM
Just In:
Kotak Mahindra Bank posts 20% YoY rise in profit at Rs 1,440 crore; asset quality improves.
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Topic :- Time:1.10 PM
DLF Stock Trading View:
DLF share is trading at 177.75. If it manages to trade and sustain above 179 level then expect some quick upmove in it and if it breaks and trade below 176.80 level then some further decline can be seen in DLF counter. Overall DLF can act as dark horse and can shoot up any time in few trading sessions.
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Topic :- Time:12.45 PM
Tata Sons reports 73% drop in profit in FY17, revenue grows 23% to Rs 9,985 cr:
Tata Sons, the promoter of the Tata Group companies, filed its annual return with the Registrar of Companies for FY17 in which it has reported a 73 percent fall in net profit at Rs 824 crore, and a 23 percent growth in revenue at Rs 9,985 crore on a standalone basis, reports The Economic Times.
The consolidated revenue for the company rose 13 percent to Rs 1.73 lakh crore, but profit was down 20 percent to Rs 18,431 crore due to higher exception items, totalling Rs 6,773 crore.
The report said that the company made a provision of Rs 684 crore for doubtful recoveries of dues from former business partner C Sivasankaran.
The company said in its filing that it would pay NTT Docomo from the money deposited to the Delhi High Court immediately upon NTT Docomo providing appropriate withholding tax certificate from the tax authorities. However, the company did not respond to an email query sent by the newspaper.
Tata Sons also decided to move out of the loss-making telecom venture Tata Tele which has a debt of Rs 34,000 crore. Tata Sons derives revenue from royalty and dividend from group companies.
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Topic :- Time:12.10 PM
Nifty is trading flat only after initial run by PSU banks. Nifty spot if manages to trade and sustain above 10270-10280 levels then expect some quick upmove in the market and if it breaks and trade below 10250 level then some fall can be seen in the Nifty.
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Topic :- Time:11.30 AM
News Wrap Up:
1. Sensex up 300 pts, NIfty above 10,250; PSU Bank index up 20%
2. RCom may shut its wireless biz by Nov 30, employees put on notice
3. Cash ban, GST disruptions to cool Indias GDP growth
4. Flipkart wont be profitable ever: Ecomm pioneer
5. RBI fines Yes Bank Rs 6 cr, IDFC Bank Rs 2 cr
6. A forgotten Pakistani port is now the epicentre of Chinas Asia conquest plan
7. RCom nears record low on talk of closure of DTH business
8. HCL Tech second-quarter net profit rises 9.5%, beats estimates
9. GIP buys Equis Energy, which has 900 MW of assets in India, in $5 bn deal
10. Infosys trades firm post September-quarter earnings
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Topic :- Time:11.00 AM
After positive opening nifty is still trading with gains. Nifty spot if breaks and trade below 10200 level then some softness can be seen and above 10280 level some upmove can follow.
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Topic :- Nifty Opening Note
Indian Stock Market Trading View For 25 Oct, 2017:
Good stock specific movement is expected in the market. Gloabl cues to be eyed.
Nifty spot if manages to trade and sustain above 10240 level then expect some further upmove in the market and if it breaks and trade below 10140-10120 levels then some decline can be witnessed in the market. Please note this is just opening view and should not be considered as the view for the whole day.