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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.

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.

RBI’s Next rate cute likely in August-Report

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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.

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RBI keep’ Repo rate Unchanged at 6.25%

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The RBI Sixth bimonthly monetary policy review kept its repo rate unchanged at 6.25% in the meeting held today, opting to wait for more clarity on inflation trends and on how a drastic crackdown on black money after demonetization, is impacting economic growth.

Marginal Standing Facility and Bank rate kept unchanged at 6.75%. The Fiscal 2017 GVA (Gross Value Added) seen at 6.9% and the Financial year 2018-GVA seen at 7.4% with rick evenly balanced, while Consumer Price Index (CPI) seen below 5%. Repo rate is the rate at which the central bank of a country provide loadn to commercial banks in case of any shortfall of funds.

Meantime, Sensex is trading at 28228 down by 207 points or 0.38%. Nifty is trading at 8745 down by 23.45 points or 0.27% at 3.00 pm today.

MID-CAPS & SMALL-CAPS HOPE TO UPBEAT TILL THE BUDGET PRESENTATION

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Mid-Cap & Small-cap indices have staged a sharp recovery since demonetization. The BSE Small-cap index has gained 11.8 percent, and the BSE mid-cap index has gained 11 percent since December 26, 2016. The BSE Sensex, which had hit a low of 25,807 points on December 26, has advanced 6.2 percent to 27,411 levels since then.

Between November 8 (when demonetization was triggered) and December 26, the BSE Mid-cap and Small-cap indices lost 11.5% and 11.2% respectively. However, it is expected that both Mid-Cap and small-cap stocks to remain upbeat at least till the Budget presentation.

Stock Market Weekly Report 9 Jan-13 Jan

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January 13 week ended the S&P BSE Sensex adding 479 points to settle at 27238, while Nifty 50 gained 164 points to close the week at 8400. The BSE Midcap rose 2.6%, while the BSE Smallcap index surged 2%. The nifty future gained 152.85 points or 1.85% Week of Week to settle at 8,420.5, which was the third consecutive week of gains for the #Nifty.

Among gainers, Hindalco (+7.1%), Tata Steel (+6.4% ) and Indusind Bank (+6.3%), YES Bank (+5.7%), HCL Tech (+4.4%) and NTPC (+4.4%). On the macro front, CPI-based inflation fell to 3.4% in December compared to 3.6% that was in the November, while industrial production contradicted all hopes of huge adverse impact of demonetization by rising 13-month high of 5.7% in November against a contraction of 1.8% in October.