Indian Rupee climbs 42 paise to 66.18 on Higher Foreign Inflows

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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.

2 March, Sensex trades above 29,100 mark, Nifty at 8,987

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Indian share markets have opened on Thursday on a positive note tracking positive leads from Asian markets. At 10.20 am, the BSE Sensex is trading higher by 130.60 points at 29,115.09 while the NSE Nifty is trading higher by 41.25 points at 8,987.05. The BSE Mid Cap index was up by 0.57% and BSE Small Cap index was up by 0.55%. The broad market depicted strength. About 1,118 shares rose, 454 shares fell and a total of 58 shares were unchanged.

ICICI Bank, Wipro, Bajaj Auto Tata Motors, GAIL, Hindalco and Tata Motors were early gainers while Dr Reddy’s Labs and Coal India were under pressure.
Overseas, Asian stocks were trading higher. U.S equities surged to all-time highs yesterday, with major indices posting their best day of the year, on the back of Trump’s speech to Congress.

Rising Stocks – Sensex rebounds; Nifty nearing 9,000 level

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HPCL shares dropped 4.51% to Rs 513.55 at the mid-session trade on BSE after the stock turned ex-dividend today for an interim dividend of Rs 22.50 per share for the year ending 31 March 2017.

Dilip Buildcon is having a good time on the exchanges. The Company’s stock has gained over 6% on an intraday basis hitting its new 52-week high of Rs 334.
DLF stock price  gained over 3% intraday today. The company’s audit committee meeting scheduled today, that will include submission of a plan to trigger 40% share sale in its rental subsidiary.

Financial stocks recovered, with the Nifty Financial Services Index surging nearly 1.2%, after declining for four consecutive sessions. Axis Bank was up 2.5%, Bajaj Holdings and Investment rose 2% and ICICI Bank gained 1.3%.

Shares of manganese ore miner Moil Ltd fell to a 2-month low, after the company cut prices for different grades of manganese ore for the quarter-4, its second consecutive cut after a series of price hikes.

India’s GDP grew 7% in the October-December quarter, slower than 7.4% in the previous quarter.

Maha Shivratri – Celebration, Significance and Rituals

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Maha Shivratri, the great night of Shiva, is a traditional Hindu festival mainly observed in India as well as in Nepal. As per Hindu calendar, the festival is observed on the new moon day in the month of Maagha. The day is celebrated to worship Lord Shiva, a major deity in Hindu culture.

Different mythological legends associated with this day. A popular legendary note that when a hunter could not find anything to kill for his food in a forest, he waited on the branch of a Wood apple tree; Aiming to attract deer, he started throwing the leaves of the tree on the ground, he did not see that there was a Shiva Lingam beneath the tree. Delighted with the Wood apple leaves and the patience of the hunter, it is believed that Lord Shiva appeared before the hunter and blessed him with wisdom. From that day onwards, the hunter desisted from eating meat.

Another legend has it that after the Earth was faced with an looming destruction, Goddess Parvati pledged with Lord Shiva to save the world. Hearing her prayers, Lord Shiva agreed to save the world on pretext that the people of the Earth would have to adore him with dedication and passion. From that day onwards, the night came to be known as Maha Shivratri and people began worshipping Shiva fervently.

Maha Shivratri is an important Hindu festival which being celebrated by people in India. People take fast on the night of Shivratri and sing hymns and praises Lord Shiva. Temples across the country are decorated with lights and people can be seen offering night long prayers to Shiva Lingam. Wood apple leaves, cold water and milk are offered to the Shiva Lingam on Shivratri day as they are believed to be Lord Shiva’s favorite.

The most popular Maha Shivratri celebrations take place in Ujjain, believed to be the place of residence of Lord Shiva. Large processions are performed all through the city, with people thronging the streets to catch a glimpse of the revered idol of Lord Shiva.

Market Open higher, Airtel spikes over 10%|Stock Advisory Company

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Indian share markets have opened the trading day, Thursday day, marginally higher. The BSE Sensex is trading higher by 71 points while the NSE Nifty is trading higher by 21 points. At 10.15 am, the S&P BSE Sensex was trading at 28,932, up 67.82 points, while the broader Nifty50 was ruling at 8,944, up 18.5 points. The BSE Mid Cap index and BSE Small Cap index both have opened the day up by 0.3% & 0.26% respectively.

Bharti Airtel stock dominated the attention, rising over 10% to hit its 52-week high of Rs 400 after the company said it would buy Telenor (India) Communications with additional spectrum in the 1800 MHz band. It was the top mover on Sensex and Nifty both.

On the BSE, 742 shares rose, 412 shares fell and a total of 64 shares were unchanged.

22 Feb Stock Markets Open positive, Nifty above 8,900

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sensex-up22-febKey benchmark indices opened on higher in early trade on Wednesday with positive Asian stocks. At 10:15 am, the BSE Sensex, was up 109.13 points or 0.38% at 28,870.72. The Nifty 50 index was up 32.25 points or 0.36% at 8,940.10. The BSE Mid-Cap index was up 0.03%. The BSE Small-Cap index was up 0.04%. Both these indices underperformed the Sensex. On the BSE, 960 shares rose and 583 shares decline and a total of 83 shares were unchanged.

Tata Motors, BHEL, Reliance, ONGC, Axis Bank, BPCL and Bharti Infratel were early gainers while Hero Motocorp, GAIL, Wipro,Tata Steel, Infosys, Idea Cellular, Aurobindo Pharma and Eicher Motors were losers. 

The financial markets are expecting on the Federal’s Jan. 31 – Feb. 1 policy minutes of meeting due later today for fresh hints on the US central bank’s stance towards interest rates.

Sensex opens flat, Nifty holds above 8,880

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Key benchmark indices on Tuesday opened on flat note with small gains in early trade. At 10:15 am, the S&P BSE Sensex, was up 17.15 points or 0.06% at 28,678.73. The Nifty50 index was currently up 9.15 points or 0.10% at 8,888.35. In the broader markets, the BSE Mid-Cap index was currently up 0.51%. The BSE Small-Cap index was currently up 0.54%. Both these indices outperformed the Sensex.

Infosys is the top Nifty gainer in the morning hours on Tuesday’s trading session. Infosys was trading at Rs 1021.85 share apiece, up by 1.15%. About 863  stocks advanced, 502 stocks  declined and 414 unchanged stocks on NSE in the morning hours.

Asian Paints, ONGC, L&T, SBI and Axis Bank were gainers among others, while HDFC Bank, ITC, Bharti Airtel, Maruti and Cipla were under pressure.

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