Sensex, Nifty open on a flat note due to weak macro-economic data

SENSEX Nifty BUY SELL Sensex & Nifty opened lower tracking Asian cues, as Asian markets were trading lower ahead of U.S Fed Reserve’s policy results later today. The BSE Sensex was trading at 33,17696, down 51 points, while the broader Nifty 50 was ruling at 10,228, up by 12 points in the late morning hours.

GAIL India, Bharti Airtel and ONGC are the top gainers, while ITC, Adani Ports and Vedanta Ltd lost the most both on Sensex and Nifty in the morning hours
Shares of Yes Bank fell 0.24 percent. The bank said it has been allocated 9.40 lakh equity shares under the anchor investor portion to the IPO.

Shares of Bharti Airtel Limited rose 1.8 percent as global private equity firm Warburg Pincus will pick 20 percent equity shares in Bharti Airtel’s DTH arm, while shares of Wipro Ltd rose 0.09 percent at Rs 287.45. 

Oil prices surged in early Asian trade on Wednesday as industry data indicated a considerable drawdown in US. Crude stockpiles, while The Indian rupee opened at 64.52 per dollar and was trading at 64, down 0.25% from its Tuesday’s close of 64.41.

Weekly Stocks and Events for the week ended 24 Nov 2017

stock market weekly reportsThe market registered notable gains in the week ended Friday, 24 Nov 2017, on strong global cues coupled with some domestic triggers. The Sensex picked up 91 pts on Friday to finish at a 3-week high of 33,679.24, influenced by gains in IT stocks and consumer durables stocks. The Nifty reclaimed the 10,400-mark to scale an intraday high of 10404.50 but profit taking dragged it down to 10389.70, with a gain of 40.95 points, or 0.40%.

Sensex opened the week at 33,365 and made a peak of 33,738, low of 33,288 closing the week at 33, 679. At the same time, the Nifty opened the week at 10,287 and made a high of 10,404 and low of 10261 closing the week at 10,389. Hence, all through the week, the Sensex gained 1 percent or 336.44 pts, while the Nifty rallied 1.03 percent or 106.10 pts. Moody’s S&P kept India-Sovereign rating unchanged with “Stable” outlook.

The global ratings agency maintained that growth will remain strong over coming 2 years and the country will keep up good external accounts position and fiscal deficit will be mostly in line with expectations.

Among important domestic events during the week, the govt promulgated an ordinance to modify the Insolvency & Bankruptcy Code-2016, aiming to prevent unscrupulous, undesirable persons from misusing the provisions of the code.

The Parliamentary Affairs Cabinet Committee on Friday recommended that the winter session of Parliament be scheduled from 15 Dec 2017 to 5 Jan 2018.

Weekly recaps of Stock: Markets settled higher on GST respite

stock market weekly report Stock Markets settled higher on GST relief on Friday, but post weekly loss to some extent. Nifty registered marginal profit taking and lost over 1% in the passing week. The Bank Nifty index has been consolidating in a narrow range close to its record high, while Nifty IT index surpassed the benchmark index and spurted strongly in the passing week.

The key benchmark Sensex & Nifty overcame a spell of the extreme end volatility to close with modest gains today as investor sentiment got a lift after the GST Council trimmed tax rates on a wide range of items.

The BSE Sensex, after a start at 33,235 levels, rebounded to the day’s high of 33,380.42 in the late afternoon trade of the week ended Friday, but lost some ground to end at 33,314.56, up 63.63 points, or 0.19%, from its earlier close. The NSE Nifty 50 index, after moving between 10,254.10 and 10,344.95, finally ended 12.80 points, or 0.12%, higher at 10,321.75. For the week, Sensex index fell by 371 pts, whereas the Nifty lost 130.75 pts.

The GST Council on Friday provided release to several sectors by reducing tax rates an array of consumer items to 18% from current 28% and cut rates on 177 goods.

Stock to Watch out, Stock in focus on 10 November 2017

stock market down Stock Market Update: Sensex and Nifty open significantly lower on negative global cues. At 10.30 am, BSE Sensex, was down 25.71 points at 33,225 levels while the NSE Nifty50 index was down 10.85 points at 10,298 levels. Shares of Oil & Gas companies decline, OMCs hit with HPCL and BPCL losing over 1 percent in the early trading hours today. Shares of Tata Motors, RIL, Asian Paints, Axis Bank, TCS, and Adani Ports lost up to 1.5% whereas ONGC socks, ICICI Bank, L&T, SBI, HUL and are rising up to 0.9%.

Stock Movements: Shares of State Bank of India was trading 0.43% higher at Rs 315.1.
Mahindra & Mahindra edged down 0.59% to Rs 1,353.45 ahead of their respective Q2 results today.
Stocks of Divi’s Laboratories Ltd rose 5.1% to Rs. 1061 in the early hours after the company announced in a notice to BSE that the US food & drug regulator has completed evaluation of corrective action.

Shares of Bharat Petroleum Corp fell 1.4% to Rs. 515 prior to its earnings expected to take place later in the day. As per reports, it is expected to post a net profit of Rs2160.10 crore while net sales will be at Rs 59286.20 crore.

Corporate Earnings: The stocks of companies such as Mahindra & Mahindra, MRF, Bharat Petroleum Corporation, Nestle, Balaji Telefilms, Bank of Maharashtra, Motherson Sumi Systems, Sobha, Sun TV, Cochin Shipyard, DLF and Suzlon among others will be in focus today as these companies scheduled to announce their earnings today. 

Rupee Watch: The Indian rupee opened at 65.07 a dollar and was trading at 65.08 against the USD, down 0.23% from its Thursday’s close of 64.94.

Stock in News today 7th November 2017, Best Intraday Advisory Company

stock market down Indian stock markets opened a little bit higher on Tuesday following the cues of higher US markets. Later the indices slowly turned flat At 10.35 am, the BSE Sensex is trading at 33,664 levels, down by 66 points, while NSE Nifty is trading at 10,426 levels down by 25 points. Except the FMCG and IT index all the other sectoral indices are in the red. The Indian rupee is trading at 64.73 to the U.S Dollar in the morning hours.

Stock Focus today:-
GlaxoSmithKline, Cipla, Bharat Heavy Electrical Ltd, Future Retail Ltd, VIP Industries Ltd, Jyothy Lab Ltd and Thermax are some of the companies that will release their Q2 earnings on Tuesday, 7 Nov 2017.

Muthoot Capital Service Ltd launched Qualified Institutional Placement to raise Rs 200 crore. The Price band is fixed at Rs 601-610 per share.

Everstone Group has agreed to acquire Kenstar, air conditioners and home appliances, from Century Appliances Ltd, an associate of the Videocon Group.

Tata Chemicals Limited sells its non-bulk phosphates business to IRC Agro-chemicals for Rs. 375 cr, which involves sale of the fertilizer biz, the assets attached to it as well as the company’s Haldia plant.

Just Dial’s net profit rose 26.47% to Rs 37.46 crore on 3.97% rise in total income to Rs 214.52 crore in Sept 2017 year on year.

Bank of Maharashtra reviewed its marginal cost of funds based lending rates (MCLR) with effect from 7 November 2017.