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Topic :- Share Market Closing Note
Sensex ends 141 pts higher, Nifty settles at 10,397 levels; IT stocks rise:
The benchmark indices ended firm on Wednesday ahead of the expiry of derivative contracts for February series on Thursday.
The S&P BSE Sensex ended at 33,845, up 141 points while the broader Nifty50 index settled at 10,397, up 37 points.
IT stocks ended 2.3% higher led by a over 4% rise in shares of HCL Technologies and Mindtree Ltd.
Stocks of pharmaceutical companies ended came under pressure, with the Nifty Pharma index settling nearly 2 per cent lower. Sun Pharma was the biggest loser of the day among the pharmaceutical companies, shedding 6.4% to settle at 523.90.
In global markets, Asian stocks gained on Wednesday, while the dollar advanced as traders near-term focus shifted to the minutes of the Federal Reserves last policy meeting for hints on the future pace of US monetary tightening. The Japanese Nikkei 225 ended at 21,971, up 0.2 per cent from the previous close.
MSCIs broadest index of Asia-Pacific shares outside Japan rose 0.7 per cent after slipping earlier in the session following the US market losses, which snapped a six-session winning streak..
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Topic :- Time:3.15 PM
Nirav Modi sacks employees across verticals, to shut shop
Nirav Modi has sacked employees across all verticals. Nirav Modi has also asked employees to collect relieving letters by February end as the firm will be shutting down all shops across the country.
Nirav Modi has told his colleagues that near future seems a little uncertain and that he is concerned about the fairness of the processes that are being followed.
He has said also said that he is concerned at the speed at with which events are moving.
He has also told employees that he is taking this moment to acknowledge your immense support in building this company, adding that the organisation is suffering due to recent allegations filed by Punjab National Bank (PNB).
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Topic :- Time:3.10 PM
Nifty spot if closes above 10400 level then some pull back is expected in next few trading sessions and if it closes below above mentioned level then some sluggish movement will further be witnessed. Avoid open positions for tomorrow.
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Topic :- Time:2.30 PM
COPPER Trading View:
COPPER is trading at 453.60. If it breaks and trade below 453 level then expect some profit booking in it and if it manages to trade and sustain above 455.20 level then some upmove can be seen in COPPER.
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Topic :- Time:2.20 PM
Though nifty is still trading in small range but is turning volatile now. Nifty spot if trades and holds above 10400 level then quick upmove is expected and below 10350 level some selling pressure can again be build. Nifty is still in Sell on rise mode.
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Topic :- Time:2.00 PM
Just In:
India has lowest 4G LTE Speed in the world at 6 Mbps only.
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Topic :- Time:1.40 PM
GOLD Trading View:
GOLD is traiding at 30400. If it holds below 30480 level then expect it to fall till 30280 level quite soon and if it manages to trade and sustain above 30480 level then some pull back can be seen in it. Sell on every rise till it holds below 30480 is recommended in it.
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Topic :- Time:1.00 PM
Nifty is trading in a very small range. NIfty spot if breaks and trade below 10340 level then expect some further decline in the market and if it manages to trade and sustain above 10375 level then some pull back can be seen.
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Topic :- Time:12.10 PM
Nifty is still trading in small range. Nifty spot if breaks and trade below 10360 level then some softness can be seen and above 10410-10420 levels good upmove can follow in the Nifty.
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Topic :- Time:11.45 AM
PNB fraud: Payoffs, late night parties; corruption has seeped into very core of Indias public sector banks:
Late night parties at plush farmhouses and hefty kickbacks to top bank officials are two compulsory requirements for scamsters to access the loans from public sector banks that they fully know would turn into Non-Performing Assets (NPAs).
A Firstpost investigation into the Punjab National Bank-Nirav Modi fraud case shows that corruption has gone into the very bone and marrow of state-owned banks and this is not just a one-off for several banks, including PNB and others like UCO and Canara, which have encountered exposure in the Modi-Mehul Choksi scam.
Firstpost has exclusively accessed a confidential report of the Income Tax department and a statement of a director of Sterling Biotech, owned by Nitin and Chetan Sandesara, who had taken a loan to the tune of Rs 5,000 crore from various banks including PNB, Union Bank of India, UCO, Andhra bank and others which had turned into non-performing assets.
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Topic :- Time:11.30 AM
News Wrap Up:
1. Indices pare morning gains, turn flat; Nifty below 10400 mark
2. PNB Rs 114 bn fraud: Nirav Modis seized assets may only fetch a fraction
3. PSBs lose Rs 1 trn; PNB scam erodes investor interest spurred by recap plan
4. Hospitals making profits up to 1,700% on drugs, consumables
5. RIL to acquire 5% stake in Eros international for Rs 10 bn to produce films
6. Oil marketing companies trade weak; Indian Oil hits 52-week low
7. Gitanjali Gems hits all-time low; stock tanks 56% in six trading days
8. Domestic insurers play contra as mutual funds lap up shares
9. 5,000 plus Aircel employees told to brace for difficult times ahead
10. CBI begins questioning Vikram Kothari
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Topic :- Time:11.00 AM
Nifty is still trading in a small range. Avoid big trades and trade with strict levels.
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Topic :- Time:10.30 AM
After positive opening nifty is trading flat now. Nifty spot if breaks and trade below 10340 level then expect further decline and if it manages to trade and sustain above 10380 level then some pull back can be seen in the market.
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Topic :- Nifty Opening Note
Indian Stock Market Trading View For 21 Feb,2018:
Indian stock market to turn volatile and is expected to follow global cues.
Nifty spot if breaks and trade below 10340 level then expect some profit booking in the market however 10300 spot to act as immediate support below 10300 sharp fall is expected and if it manages to trade and sustain above 10380 level then some upmove 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.