Nifty Trading Tips
Markets fall with the Nifty breaching 10,100 levels intraday. During mid-market trading hours the Nifty is trading 116 points lower at 10,108-mark, while Bank Nifty is trading is trading 1.34 percent lower at 24,729 levels.
The market volatility is set to continue impacting on the Nifty considering the monthly expiry of Future and Option (F&O) today. Besides, the large number of front line companies is set to announce their earning results today….. Read More
Key benchmark indices were trading with small gains in early trade on Tuesday. The BSE Sensex, was up 59 points at 37,645-marks. The NSE Nifty-50 index was up 14.60 points at 11,392-level. BSE Mid-Cap index was up 0.25%, while Small-Cap was up 0.20%, both indices outperformed the Sensex.
Hindustan Unilever, Yes Bank, Asian Paints, Mahindra and Mahindra, ONGC, Sun Pharma have started trading with gains in Sensex pack, while Powergrid, Vedanata, Tata Motors and SBI were trading with loses.
Tata Motors shares went down 1.27% after Tata Motors owned Jaguar Land Rover confirmed a slash in its output schedule at the Castle Bromwich plant in England.
Indian stock markets have opened the day on a strong note on Friday on positive global cues. The BSE Sensex surged 377.48 points to 33,483.30, while the NSE Nifty50 gained 117.75 points to 10,332.50 at 10:45 hours. The markets are risen higher by the banking stocks, which rose by 1.7% on back of Moody’s report on upgrade of Indian Govt bond rating. Punjab National Bank, ICICI Bank, Bank of Baroda, State Bank of India were gaining in the morning hours.
Following companies, among others, will be in focus today during trade based on recent and latest news developments.
FMCG companies’ stocks in focus today as the govt has approved setting up of the proposed National Anti-profiteering Authority under GST to ensure consumers get the advantage of lower taxes under the new indirect tax implementation.
Bank of Baroda: BoB said the Finance Committee of the board will meet next week to consider approving its proposal to raise Rs. 6,000 crore via Qualified Institutional placement or rights issue.
The stock of Larsen and Toubro (L&T) was registering an upward momentum on the exchanges today’s’ trade since the stock surged over 4 percent amid high volume trading. The company is hopeful of bagging some six defence contracts amounting to Rs 40,000 crore. L&T stock gained 4.83% to Rs 1,181 in intraday trade on the BSE. The stock was the top gainer on both Sensex & Nifty.
The counter has witnessed huge trading activities with a combined 2.9 million shares exchanging hands on both Exchanges so far. On an average a combined 1.3 million shares were traded daily in the past fourteen days on BSE & NSE.
L&T had hit its 52-week high value of Rs 1,222.63 on May 30, 2017, and 52-week low of Rs 863.40 on Nov 9, 2016, on the NSE.
The rupee soared 42 paise to 66.18 against the US dollar in early trade on increased selling of the US currency by exporters and banks along with higher foreign inflows following BJP’s booming win in Uttar Pradesh. Further, industrial production expanding by 2.7% in January also supported the rupee.
Meanwhile, Crude oil slides Near Rs 3200 Levels On Multi Commodity Exchange. WTI Crude oil has dropped below USD 50 for the first time since in nearly three months following heavy US inventories and selling pressure in major industrial commodities.
US commercial crude supplies have grown for nine consecutive weeks, reaching a record 528.4 million barrels last week, as per the US Energy Information Administration. WTI futures are currently trading just above USD 48 per barrel. MCX Crude dropped 0.77% yesterday to close around Rs 3,200 per barrel.
Gold is trying to edge up after the recent slip. A near 2-month low around USD 1200 per ounce seems to be working for the metal. MCX Gold closed down 0.45% at Rs 28, 238 per 10 grams yesterday, seeing another drubbing after the weekend.