Intraday trading tips

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.

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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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SEBI TO ENLIST RESOURCE PERSONS TO SPREAD FINANCIAL LITERACY

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Markets regulator SEBI will empanel financial education resource persons on part-time basis for different districts in Haryana, U.P, Punjab, Jammu &Kashmir, Himachal Pradesh and Uttarakhand with a view to help spread financial literacy, said SEBI in a notice. SEBI has invited applications from interested candidates by February 28.

Serving or retired teachers, professionals, bank and government officials as well as defence persons can apply for the opportunity. The candidates should have at least a graduate degree and minimum three years working experience, SEBI added.

SEBI would empanel individuals for seven districts in Himachal Pradesh, viz. Kinnaur, Lahaul-Spiti, Sirmour, Solan, Una, Kangra and Chamba, and five districts in Haryana, including Fatehabad and Faridabad.

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Gold Slip lower as U.S. dollar mildly recovers

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gold-17-febGold prices slipped lower on Friday, since the U.S dollar recovered moderately from losses posted in the previous session, despite the ongoing geopolitical concerns expected to support safe-haven demand. In the New York Mercantile Exchange’s Comex division, gold futures for April delivery were down 0.28% at USD 1,238.05. The April contract ended Thursday’s session 0.69% higher at USD 1,241.60 an ounce. However, the dollar regained some ground on Friday, aided by recent upbeat data and positive comments by Federal Reserve Chair Janet Yellen.
Meantime, in Indian domestic stock market, Nifty50 closed at 8821.70 levels, up by 43.70 points while Sensex closed at 28468.75 levels, up by 167.48 points.

Gold Under Check On Fed Comments, Elite Investment Advisory

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Gold was pressed in last session under comments from US Fed Chief Janet Yellen. The precious metal took a drop on 13 Jan 2017, sine rising equities clubbed with failure to hold above 200 day Exponential Moving Average hurt the metal.

Gold Prices had tested a 3-month high above USD 1240 per ounce last week before drifting lower. The counter also seen lack of buying as speculative fund demand remained thin. However, the metal is presently trading moderate level at USD 1227 per ounce. MCX Gold futures tested a low near Rs 28,950 levels on Tuesday and ended just above Rs 29,000 per 10 grams mark.

The Federal Reserve can hike interest rates at a gradual pace, Fed Chair Janet Yellen told lawmakers on Monday. She told, if the labor market continues to strengthen and inflation moves to the central banks 2% target, a further adjustment of the federal funds rate would likely be fitting. However, changes in fiscal policies could potentially affect the economic outlook.

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