Major headlines:
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Trade
partners worried over cash flow in run up to GST
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Asia
stocks shake off Wall Street blues, sterling steady before Brexit talks
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India to allow late filling in first
two months of GST
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Indian
Indices: Asian markets opened in the green led by the Japanese 'Nikkei",
which traded above 20000 as the weaker ‘Yen’ aided gains. With important
decisions like Brexit and Trump legislation, this week could be decisive in
marking the market trend for the next few weeks and months.
Nifty saw weakness creep in the second half as Pharma, IT and Metals
counters dragged the Nifty lower. This week could see Nifty break the small
range it has been in for over 3 weeks as global and local cues emanate a
decisive trend. For today expect Financials, Banks and Auto stocks to see
buying while Pharma and IT to remain under pressure.
The BSE
Sensex is currently trading at 31184.44, up by 128.04 points or 0.41% after
trading in a range of 31163.35 and 31247.69. There were 20 stocks advancing
against 10 stocks declining on the index.
The broader
indices were trading in green; the BSE Mid cap index gained 0.08%, while
Small cap index was up by 0.11%.
The CNX Nifty is currently trading at 9618.30, up by
30.25 points or 0.32% after trading in a range of 9618.25 and 9638.75. There
were 32 stocks advancing against 19 stocks declining on the index.
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MARKET
INDICATORS
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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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Hathway
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42.50
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5.99
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Tataelxsi
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1610.40
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4.24
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NLCINDIA
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106.40
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3.75
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Wabag
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734.90
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3.08
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Group ATopLosers
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Wockard
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595.55
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-5.83
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Amtekauto
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23.45
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-19.97
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Videoind
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21.10
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-4.95
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Polaris
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233.45
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-2.36
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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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30990
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31195
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Nifty
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9550
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9615
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Technical view: Nifty is range bound between 9560-9660 and this week
should see breakdown or breakout of the range. Bank Nifty also finds support
around 23300 while 23750 acts as resistance, either side breakdown/out will
see further direction.
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COLPAL (BUY Above 1096 with Stop Loss at 1077.5 for Target
of 1133): The stock has been consolidating for over seven trading sessions
and has finally broken out from a Flag Pattern on the daily charts.
The price outburst has been accompanied with credible volumes. Other
oscillators also indicate that the current momentum is here to stay.
EconomicSnippets:
India’s
forex reserves slipped USD11.5mn, to stand at USD381.156bn in the week to
June 9. In the previous week, they had risen USD2.4bn to touch a record-high
of USD381.167bn. Gold reserves remained unchanged at USD20.095bn. (BL)
The
Department of Telecommunications (DoT) has expressed its inability to meet
its revenue target of Rs473.05bn for FY18 and has asked the finance ministry
to revise the projection to Rs295.24bn almost a 40% fall. (BS)
Corporate
India's mergers and acquisition deals stood at USD1.89bn in May, taking the
year to date tally to USD35.44bn. (BL)
Net income tax collection till June 15
grew at a healthy 26.2% to Rs1.01trn from across the country as of June 15
this fiscal from Rs 800.75bn in the year ago period.
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Nifty Movers: The top gainers on Nifty were Adani Ports up by
1.98%, BhartiInfratel up by 1.88%, Reliance Industries up by 1.44%, Tata
Steel up by 1.31% and TCS up by 1.27%. On the flip side, Cipla down by 1.43%,
AurobindoPharma down by 1.24%, Yes Bank down by 1.17%, Lupin down by 1.11%
and Tata Motors down by 1.02% were the top losers.
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Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were Energy up by 0.81%,
FMCG up by 0.67%, Metal up by 0.60%, Telecom up by 0.57% and Consumer
Durables up by 0.54%, while Realty down by 0.94% and Healthcare was down by
0.61% 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 green at this point of time, as traders took some comfort with a
member of the US president’s legal team stating that President Donald Trump
isn’t under investigation by special counsel Robert Mueller. The US markets
ended modestly in red in the last session on another round of downbeat
economic data.
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Global Signals:Asian markets
were trading mostly in green; KOSPI Index gained 7.75 points or 0.33% to
2,369.58, Jakarta Composite rose 13.49 points or 0.24% to 5,737.13, Shanghai
Composite increased 20.61 points or 0.66% to 3,143.77, Taiwan Weighted surged
85.04 points or 0.84% to 10,241.77, Nikkei 225 added 129.58 points or 0.65%
to 20,072.84 and Hang Seng was up by 241.53 points or 0.94% to 25,868.02.
On the flip side, FTSE Bursa Malaysia KLCI was down
by 2.72 points or 0.15% to 1,788.59.
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