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Indian
Indices: Asian indices opened firm with the Japanese 'Nikkei' leading gains as
US Dollar strength bode well for the Japanese Yen and exporters. Oil rally
witnessed gains across the board for energy stocks as markets globally
rebound after consolidation.
Nifty hit 10000 and saw profit booking as markets digested an
important milestone. Sentiment seems upbeat as Rupee, bonds and earnings till
now all seem in consensus with flows being the main driver for stock prices.
For today expect positive opening followed by a volatile session as expiry of
derivative contracts tomorrow puts pressure on rollovers.
The BSE
Sensex is currently trading at 32319.22, up by 90.95 points or 0.28% after
trading in a range of 32226.08 and 32320.01. There were 20 stocks advancing
against 11 stocks declining on the index.
The broader
indices were trading in green; the BSE Mid cap index was up by 0.54%, while Small
cap index was up by 0.80%.
The CNX Nifty is currently trading at 9992.50, up by
27.95 points or 0.28% after trading in a range of 9965.95 and 9993.45. 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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Company
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Price (Rs)
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% chg
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Get&D
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392.90
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19.99
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Sparc
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354.40
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7.52
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JPAssociat
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28.70
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6.69
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Jindalstel
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146.85
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5.01
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Group ATopLosers
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Lakshvilas
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189.20
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-3.02
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Pidilitind
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802.95
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-3.01
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Idea
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95.30
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-2.56
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Axisbank
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533.15
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-2.11
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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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32225
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32535
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Nifty
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9950
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10045
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Technical view: Nifty finds support around 9930 while 10000 will act
as initial resistance on the upside. Bank Nifty also finds resistance at
24650 while 24250 will act as strong support.
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Union
Bank of India (UNIONBANK) (Buy Above 161.25 with Stop Loss at 158 for Target
of 167): After consolidating for
over nine weeks, the stock has given a breakout on daily chart. The
price breakout has been accompanied with smart uptick in volumes. Other
oscillators also indicate that the current momentum is here to stay. We
expect UNIONBANK to carry forward the momentum and rally towards the 167
levels in the near term.
EconomicSnippets
The inter-ministerial group (IMG) set
up to address the financial stress in the telecom sector has prepared a draft
report recommending steps to benefit the industry.
India's edible oil imports are set to
fall for the first time in six years as a surge in local oilseed
output cuts into overseas purchases, but intake needs to fall further to
fortify the health of the market, the head of a leading importer said.
Unichem Laboratories has received
approval from the US health regulator for losartan potassium and
hydrochlorothiazide tablets, used in the treatment of hypertension and
reduction in risk of strokes in patients with hypertension. (HBL)
Piramal Financesaid it
has sanctioned Rs 400 crore through its vertical - Emerging Corporate Lending
(ECL) to fund emerging and mid-market businesses.
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Nifty Movers: The top gainers on Nifty were GAIL India up by
2.91%, Vedanta up by 2.81%, Tata Steel up by 2.08%, Eicher Motors up by 1.69%
and Reliance Industries up by 1.64%. On the flip side, Zee Entertainment down
by 1.98%, Axis Bank down by 1.80%, Asian Paints down by 1.75%, BhartiInfratel
down by 1.46% and ACC down by 1.14% were the top losers.
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Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were Metal up by 1.71%,
Realty up by 1.55%, Utilities up by 1.19%, Energy up by 1.01% and Oil &
Gas up by 0.86%, while Telecom down by 0.54%, TECK down
by 0.36% and IT down by 0.16% were the only losing indices on BSE.
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On the global front: On the global
front, Asian markets were trading mostly in red, as investors awaited the
Federal Reserve’s policy decision later in the day for more clues on its
tightening plans. China’s securities regulator said that it will regulate and
expand access to capital markets for all types of investors, while also
encouraging more long-term institutional participation.
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Global Signals:The Asian markets
were trading mostly in red; Taiwan Weighted decreased 41.13 points or 0.39%
to 10,422.02, KOSPI Index decreased 8.14 points or 0.33% to 2,431.76,
Shanghai Composite decreased 6.86 points or 0.21% to 3,236.83 and FTSE Bursa
Malaysia KLCI decreased 0.42 points or 0.02% to 1,762.92.On the other hand,
Jakarta Composite increased 6.99 points or 0.12% to 5,820.52, Hang Seng
increased 43.5 points or 0.16% to 26,895.55 and Nikkei 225 increased 90.56
points or 0.45% to 20,045.76.
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