stock advisory

Indian Rupee climbs 42 paise to 66.18 on Higher Foreign Inflows

Posted on Updated on

crude-and-gold-1.jpg

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

Posted on Updated on

Business chart with glowing arrows and world map

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

Posted on Updated on

sensex-up

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

Posted on Updated on

elite-mahashive

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.

SEBI TO ENLIST RESOURCE PERSONS TO SPREAD FINANCIAL LITERACY

Posted on Updated on

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.

sebi

Gold Under Check On Fed Comments, Elite Investment Advisory

Posted on Updated on

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.

gold-image

RBI’s Next rate cute likely in August-Report

Posted on Updated on

RBI may finally go for a 25 bps rate cut in August if a good monsoon contains core inflation at a moderate 4-5%, as per report of Bank of America Merrill Lynch (BofAML). BofAML had expected a 25 bps rate cut in the Feb 8 policy meet considering the demonetization shock, low inflation, lower fiscal deficit and a stabilizing US dollar. The report noted that the RBI has also cut down inflation risks broadly in proportion to its own forecasts.

rbi1-kh0c-621x414livemint