Ideal Stock Present Nifty Look Out
Nifty tech charts have all the positive signals, US stocks surged in overnight trade and Asian markets have seen firm openings this morning. All this augers well for the domestic market, as it gears up for the two-day RBI policy review beginning Wednesday. Watch this space as we bring you LIVE updates of the proceedings from Dalal Street.
08:44 AM
Singapore trading sets stage for flat start
Nifty futures on the Singapore Stock Exchange were trading 2 points, or 0.02 per cent, lower at 10,278, indicating a flat start for the Nifty50 on Dalal Street.
08:43 AM
Nifty50 forms bullish candle on daily chart
Nifty50 managed to settle above its immediate support level of 10,240, despite weak global cues. The index made a bullish candle on the daily charts and is expected to face immediate resistance at the 10,276 level and later around its 50-day moving average of 10,360. The index may find support near the 10,140 level.
08:43 AM
ICICI Sec , Midhani to make market debut
Shares of India’s biggest stock broking firm ICICI Securities are scheduled to get listed on BSE and NSE on Wednesday (April 4). The initial public offering was opened for subscription between March 22 and March 26. The company had fixed a price band of Rs 519-520 per share. Shares of Mishra Dhatu Nigam (MIDHANI) will list on BSE and NSE on Wednesday. The IPO, which was oversubscribed by 1.21 times, ran from March 21 to March 23.
08:43 AM
MPC to kick of policy review today
The RBI is unlikely to yield to the India Incs pressure for a benign monetary policy stance by keeping policy rates unchanged in its first monetary policy review of 2018-19 to be announced on Thursday against the backdrop of hardening global crude oil prices, PTI reported. The two-day meet will kick off on Wednesday.
08:43 AM
Manufacturing activity at 5-month low
Manufacturing sector activity slipped to a five-month low in March as order flow lost momentum, and businesses showed little appetite for recruitment, a private survey showed on Tuesday. The Nikkei India Manufacturing Purchasing Managers’ Index (PMI), declined to 51in March from 52.1in February. Since a reading above 50 indicates growth, March’s figure means manufacturing activity remained in expansion mode.
08:43 AM
Jubilant gets notice for GST profiteering
Jubilant FoodWorks has been slapped a notice under GST anti-profiteering rules for allegedly not passing on the benefit of tax rate cut to consumers of Domino’s Pizza across its outlets, according to sources. The Directorate General of Safeguards (DGS) had issued the notice on January 25 after the standing committee under the GST anti-profiteering authority received a couple of complaints from consumers over pricing of food items sold at Domino’s outlet.
08:42 AM
Jhunjhunwala questions Fortis deal
Ace investor Rakesh Jhunjhunwala questioned the recent deal struck by TPG-backed Manipal Hospitals to acquire control of Fortis Healthcare’s hospitals and its SRL Diagnostics unit, giving public expression to a view said to be widely held by minority shareholders and suggesting that it may not go through.
08:42 AM
Rupee appreciates 17 paise against dollar
The rupee made a strong recovery against the US currency to close at 65.01 on Tuesday, surging by 17 paise on fresh bouts of dollar selling, seemingly unfased by escalating trade tensions between the US and China. A massive unwinding of dollar long positions by exporters and corporates lifted the forex sentiment.
08:42 AM
Nifty50 unlikely to cross 11,000 this year: CLSA
The lingering macro concerns are likely to impact the stock market returns in India, with the Nifty unlikely to cross 11,000 mark in the rest of the calendar year 2018, said CLSA. Owing to the limited upside and adverse news flow in the corporate banking space, the firm has reduced weightage on State Bank of India and ICICI Bank in its model portfolio, and added weightage on IndusInd Bank and Emami.
08:42 AM
US stocks settle higher
The Dow Jones Industrial Average index climbed 389.17 points, or 1.65 per cent, to 24,033.36. The S&P500 index advanced 32.57 points, or 1.26 per cent, to 2,614.45. The Nasdaq Composite index added 71.16 points, or 1.04 per cent, to 6,941.28.
08:41 AM
Sensex on Tuesday
Shrugging off weak global cues, the domestic equity market ended in the green for the second session in a row. Sensex rose 115 points for the day to settle at 33,370.63. NSE's Nifty50 added 33 points to close the session at 10,245.
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