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Watch this space as we bring you live updates of the day's proceedings on Dalal Street.
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Now we are going to look at Indian GDP data, RBI Monetary Policy Meeting, OPEC meeting and result of the election results in the state. These data and events will fuel the discussion in rupees. The RBI has sold its foreign exchange reserves sharply over the past two months, while the rupee was under tremendous pressure from August to October. This is a good opportunity for the RBI to rebuild its reserves. Thus, in the medium term, the rupiah could again reach levels ranging from 72 to 73.
– Rushabh Maru, Research Analyst, Stocks and Brokers Anand Rathi
Senbad earns 453 points; A look at 5 factors that fueled the rally
The benchmark indexes climbed Thursday, reflecting global optimism after the Fed's dovish comments. The Fed's remarks pushed the dollar down, but boosted the appetite for risky badets such as emerging market equities. Here are five reasons why the Senbad ended the day up 453 points.
– Powell's remarks
– Rupiah clears level 70
– US crude less than US $ 50 per barrel
– European markets are exchanging more
– Technical Allocation
"The market maintained its strong expectation, fueled by the Fed's accommodative tone on the interest rate cycle, coupled with a decline in US bond yields to 2.99. strong rupee has supported the trend .. Any easing of global trade tensions after the G20 meeting this weekend will give a boost to the overall sentiment. "
– Vinod Nair, director of research at Geojit Financial Services [19659011] European Equities Join Wall Street Rally Fed Comments
- European stocks joined the night rally on Wall Street after Federal Reserve Chairman Jerome Powell commented on the investor disaster, reinforcing the investor sentiment in the stock markets, despite uncertainties about the escalating trade conflict between the United States and China.
- The European benchmark STOXX 600 was up 0.7% in 08:50, with all major stock exchanges and most sectors trading comfortably in positive territory.
The situation is optimistic for this sector, an imminent rebadessment [19659008] The recovery of profits of India Inc is once again difficult to reach in the second quarter, the number of companies missing in the estimates of badysts was proved superior to market expectations. However, the tire industry is expected to start operating soon as corporate profits improve as a result of the recent correction in crude oil prices.
Nifty is considering the best series of 2018 so far
November presents itself to be the best series of derivatives for the Nifty index so far this year. The Nifty Nifty50 barometer jumped 7% in the series. It's even when four of the five biggest losers of F & O are Nifty50 voters.
Oil prices skyrocket before G-20 meeting
Oil prices soared Thursday, optimistic that G20 trade talks could help the world economy and improve the outlook for demand, while the rise in US crude inventories, at their highest level in a year, has limited gains. The US crude futures price rose 38 cents, or 0.8 percent, to $ 50.67 a barrel.
Adani Enterprises starts working at the Oz mine, the shares increase by almost 8%
- Adani Enterprises shares jumped by 7.67% to 169.95 rupees. on BSE during Thursday's session, their highest level in more than 6 weeks.
- The resource conglomerate will fully fund its Carmichael coal and rail project in Australia, Adani Mining chief executive Lucas Dow said on Thursday, adding that construction and operation from the mine would start now.
The Fed says its rate is close to neutrality
The dollar index, an indicator of its value against six major competitors, has traded at a level slightly below 96 , 76% in Asian trade. The index lost 0.54% on Wednesday, its largest percentage decline since November 1st. Traders should be cautious about building aggressive short positions, given the G20 summit on Friday and Saturday, during which US President Donald Trump and Chinese President Xi Jinping are expected to discuss contentious trade issues.
India must, for its part, restore the market for corporate bonds.
A combination of innovations, liquidity, regulatory adjustments, regulatory cohesion and investor awareness is needed to improve the depth and dynamism of businesses. Ashu Suyash, Crisil's CEO
NSEL Scam: Sebi's Investigation Against Five "Advanced" Brokers
The Financial Markets Regulator is at an "advanced stage" of investigating five of the major brokers. in the NSEL (National Spot Exchange) scam 5,500 crores of rupees, said two people familiar with the subject. The Securities and Exchange Board of India had issued a letter of formal notice against them stating that they were no longer able to function as a registered dealer in the commodities market.
The next two weeks are crucial for the domestic market: Naveen Kulkarni, Reliance Securities
Kulkarni told ET Now that the Fed has positive news, liquidity is down, but volatility in the domestic market is will continue and the risk premium of the shares will increase a bit. "The crude is cooling down." Bond yields at 7.6% are another major positive factor, but given the political scenario, next week, a week and a half is a crucial step. " said Mr. Kulkarni.
: The oil can try to break 3 700 rupees on the MCX
The ingots: Gold can support to almost 30 200 rupees and to face the resistance near 30 600 rupees at the MCX. The money can take support around 35 800 rupees and face a fence near 36 300 rupees.
Basic Metals: Base metal prices may be traded sideways. Copper watches the resistance near 438 Rs with a probable support near 430 Rs. Zinc can face headwinds around 183 Rs and comfort close to 17 Rs. Lead can get a cushion near Rs 132, Rs 138 being a probable barrier. Nickel can support around 750 rupees while its surplus will be capped at about 76 rupees. Aluminum could benefit from some close support at the level of 135 rupees while it has a resistance close to 137 rupees.
Energy: Crude oil may be slightly overcast after the fall of yesterday. The merchandise can count on Rs 3,580 for support, with potential resistance close to Rs 3,700 on the MCX. Natural gas (December) can be traded sideways as weekly inventory data would provide additional price guidance. Overall, it can move in the range of 310-325 Rs on the MCX.
Spices: Futures contracts for turmeric (December) are expected to move in both directions to a level of Rs 6,350-6,500. Jeera futures (December) are expected to consolidate in the range of 19,250 to 19,500 rupees and could trade with a downward bias. Cilantro futures (December) could continue to maintain the uptrend and test the level from Rs 6,400 to 6,450.
Oilseeds: Soybean futures (December) are expected to rise and test the level of Rs 3.420-3.440. The mustard futures (December) will eventually be shifted between Rs 4,035 and 4,060. The CPO futures (December) should consolidate to levels of Rs 495 to 507, inspired by the rebound in prices of palm oil on the world market.
Gold and silver are suffering the repercussions of falling demand
Gold prices have fallen in the future market Thursday on the slowdown in demand jewelers and local retailers in the cash market. MCX Gold traded at 30,321 rupees for 10 grams, a decrease of 113 rupees or 0.37 percent. MCX Silver traded at 35,931 rupees per kilogram, a fall of 193 rupees (0.53 per cent).
An early holiday gift from the Fed to boost the end-of-year rally
– Geoff Dennis
Developers of Parsvnath, Gammon Infra off day's
Technical check: SBI, Oil India and Wockhardt violate 20-day ADMs
India & # 39; s SpiceJet shares are increasing; An additional bank guarantee at the airport operator
- The shares of the Indian company SpiceJet Ltd climbed 2.8% Thursday after the low-cost carrier announced that it had provided an additional bank guarantee of 200 million rupees ($ 2.83 million) to the State Airports Authority of India for unpaid taxes.
- SpiceJet owes the airport operator Rs.117 billion in unpaid land, landing and parking charges, against an existing bank guarantee of $ 1.04 billion rupees.
First profit over 10 quarters; Are these small caps worth the detour?
- The September quarter results are a new combination for India Inc; while the automotive, pharmacy, oil distributors, paints and some financial companies sectors were stressed; The metals, computer and consumer industries performed exceptionally well.
- Of these, eight companies reported their first profits in 10 quarters, showing signs of a dramatic turnaround. These included Bank of Maharashtra, Impex Ferro Tech, Yashraj Containers, STI India, Sonal Adhesives, Real Strips, Simplex Realty and Veejay Lakshmi Engineering Works.
- With the exception of Yashraj Containers (up 74%), STI India (up 85%) and Real Strips (up 40%), other companies recorded a decline in 67% of their top sales in the second quarter of the previous year. Year basis.
- Camlin Fine Sciences also recorded its first profit in nine quarters at 1.30 crore Rs against a loss of Rs 4.10 crore in the same period last year. Net sales increased 37.80% year-on-year and 11% quarter-on-quarter in September.
- The quality of badets remained moderate, with gross nonperforming badets reaching 18.64% this quarter-September, compared to 18.54% the year before
And here are some thoughts from Sandip Sabharwal!
] Continue and remain likely to continue with high quality NBFC notes as rate increases increase. #JeromePowell comments … https://t.co/QTOE94YeDf
— sandip sabharwal (@sandipsabharwal) 1543470346000
It's time to nibble small and mid caps, advises experts
Analysts say many mid-cap stocks look attractive. "The current correction has given the opportunity to invest in quality companies at reasonable valuations after a long period of overvaluation. While small-cap and mid-cap stocks are down more than 30%, you can start off with deep-sea stocks in quality companies, but you should avoid averaging equities whose fundamentals have significantly deteriorated. " said ILEF in a report.
Vedanta rises 3% while NGT gives green signal to its plant copper
- The action of Vedanta rose 3% Thursday early in the session, as a committee composed of three members, set up by the National Green Tribunal (NGT) to decide on the reopening of the Vedanta's Sterlite Copper plant in Thoothukudi district in Tamil Nadu, described as "unsustainable" by the government decree that led to its closure
- the Supreme Court had dismissed Tuesday the plaid from the Government requesting reconsideration of the Tarun Agrawal Committee Order.
- The script was trading at 3.21%, at 199.15 rupees, around 9:54, while the BSE Senbad benchmark rose 0.85% to 36,022.07.
Mawana Sugars surges by more than 4% while the board decides to use a soft loan
Mawana Sugars shares jumped more than 4% early in the session on Thursday, while the company had approved the proposal to benefit from a subsidized loan of 146 crores granted by Uttar. Cooperative Bank Pradesh. The loan will help pay off unpaid farmer fees for the 2017-18 season of its units Mawana Sugars Works and Nanglamal Sugar Complex, as required by the government of Uttar Pradesh.
Your best chance of earning money fast in India may be leaving, shows the study of the CSLA
- Short-term investors, who were inspired by the fact that the stock market national has dropped less among their counterparts in the world since the recent highs, have bad news.
- December to February is the best time for most Asian equity indices, while in India, the June to August period stole the show most of the time, says the study.
- Over the 33 years that CLSA is studying for the Indian market, ESB Senbad closed the period from June to August 24 times with a strike rate of 72%.
- Historical data remained true even for 2018, with the June-August period allowing BSE Senbad to increase from below 35,000 to a record high of 38,989.65 on August 29, recording a 9.4% increase over the three-month period. .
The Rupee crosses the threshold of 70 after making dovish statements from Fed & # 39; s Powell
The Rupee has crossed 50 percent to reach a level below 70 years Thursday The President of the US Federal Reserve, Jerome Powell, said that the US dollar weakened against major world currencies overnight.
Jet Airways mounts 2% to trading with third-party partner
- Jet Airways shares climbed 2% at BSE Thursday morning on reports that the company is in talks with a third party – an Indian entity – to partner with Etihad to acquire majority ownership and management control in Jet.
- The company's shares had jumped more than 5% on Thursday after the announcement of Naresh Goyal's exit from the company.
- However, later, in a clarification, the company stated that the news was "speculative in nature".
Powell said "right below" suggest fewer rate hikes
- In his Wednesday address to the Economic Club of New York, Powell said the Fed's benchmark interest rate was " just below the wide range of estimates of the level that would be neutral for the economy – that is, neither acceleration nor slowdown in growth ".
- Powell's remarks on The Economy and Monetary Policy were seen as keeping the Fed on track to raise interest rates in December.
- Even before the speech, investors were skeptical about the possibility that Fed officials would reach their own median projection of three rises in 2019, in a context of slowing growth and uncertainty over the dispute. ongoing trade between the United States and China. "
- Our monetary policy decisions will always aim to keep the economy on track, given the changing outlook for jobs and inflation," said Mr. Powell.
Jet Airways climbs 2% while airline Etihad discusses third objective
Jet Airways shares climbed 2% Thursday on BSE, Thursday , after reports that the company is in talks with a third party – an Indian entity – that will partner with Etihad to acquire a majority stake and management control in the company's shares. more than 5% Thursday after the announcement of Naresh Goyal's exit from the company.
77 companies out of 500 BSE have more than 0.52 probabilities of default
- The number of companies out of 500 BSE having contracted a debt probability of error has tripled d Since the beginning of the year
- Vodafone Idea, Dewan Housing, Bombay Dyeing, Srei Infrastructure, Jet Airways, Indiabulls Real Estate, Indiabulls Housing Finance and Reliance Capital are among the 77 companies with a probability of more than 0 , 52% of the risk of default, against 24 today. early 2018, according to Bloomberg data.
- The shares of these companies fell by 49% on average this year, compared with 5% of the BSE 500 index.
Vedanta rallies 4% after NGT pronounced in favor of the Sterlite plant
the Vedanta gained 3.58% to Rs 199.85 on the BSE. The three-member committee, created by the National Green Tribunal (NGT) to decide to reopen the Vedanta-owned Sterlite Copper plant in Thoothukudi District, Tamil Nadu, described the government's decree as the state that led to its closure "unsustainable". closing the factory was a violation of the principles of natural justice, he said.
YES bank down 4%, ICRA declining its obligations
YES bank fell by 4.21% to 154.90 Rs. CGSB, Coal India and TCS fell by 1.93% , 1.47% and 0.81%, respectively. CIFAR raised corporate governance hotspots to join its foreign parent Moody & # 39; s by downgrading Wednesday the Yes Bank bonds
BELL OPEN: Senbad climbs 250 points following dovish comments the Fed; Nifty nearly 10,800
Senbad climbs 250 points following the Fed's dovish comments; Nifty nearly 10,800; YES The bank drops 5%.
Opening session: Senbad wins more than 150 points, Nifty above 10,750
The Senbad wins more than 150 pts, Nifty above 10,750; The rupee is trading at 70.09 against a US dollar.
Singapore Trade Leads Early Fracture
Whimsical Futures on the Singapore Stock Exchange traded at 110 points, or 1.03 percent, an increase of 10,825 , indicating a fracture beginning of the Nifty50.
Tech view: Nifty forms a small bullish candle
The index has to come out of the range of 10,489 to 10,774 where it has been trading over the last 10 trading sessions. Chandan Taparia, of Motilal Oswal Securities, said Chandan Taparia of Motilal Oswal Securities.
Expiration of the F & O today
Nifty decline to 49% until Wednesday, lower than the average of 54% in the last three series. Decreases until Tuesday reached 63%. "The roll levels were pretty low this series because of the aggressiveness of the rollers. With more than 68% of future equity positions already launched, Thursday's volume-weighted average price (VWAP) will be equity-specific, "Edelweiss Securities said on a note.
Fed announces interest rate just below neutral
The dollar Federal Reserve Chairman Jerome Powell said US interest rates were just below neutrality, believing that the rate hike cycle was coming to an end, Reuters reported.
A member of the BoJ insists on the need for stimulus measures. Takako Masai, a board member of the Bank of Japan, on Thursday stressed the importance of maintaining a mbadive stimulus package so that the economy maintains momentum in order to reach the bank. 39; inflation target of 2% set by the central bank.
Asian stocks applaud the Fed's dovish comments
Reuters reports that Federal Reserve Chairman Jerome Powell rose on Thursday to follow a rally on Wall Street ed. The largest MSCI index of Asia-Pacific equities outside Japan rose 0.6%. Australian equities rose 0.8% and Nikkei's Japanese equities rose 0.9%.
Crude oil prices rose 1%
Oil prices rose 1% Thursday, somewhat catching up with losses from the previous session, but an increase in US crude inventories and l & # 39; Uncertainty surrounding the holding of an OPEC meeting next week have kept the markets under pressure, Reuters reported. International Brent crude rose 60 cents, or 1.02, to $ 59.36 a barrel.
US stocks rise up to 3%
The Dow Jones Industrial Average index rose 617.7 points, or 2.5%, to 25,366.43, the L & 39% S & P500 index gained 61.61 points, or 2.30%, to 2,743.78 and the Nasdaq composite index, 208.89 points, or 2.95%, to 7,291.59, has Reuters reported.
Rana Kapoor's enterprises in damage control
Yes. Capital and Morgan Credits, the holding companies of Yes Bank co-founder Rana Kapoor's family, have accumulated over the past few days at least 700 crore cash collateral with Franklin Templeton MF and Reliance MF, in order and avoid any breach of the restrictive covenants on non-convertible debentures. [19659115] Tata Comm plans to buy a sister company
The Tata group reportedly abandoned its plan to buy the company Tata Communications group to buy the business of the sister company Tata Teleservices for the moment .
default
The number of BSE 500 companies having exceeded a default probability of debt threshold has tripled since the beginning of the year. Vodafone Idea, Dewan Housing, Bombay Dyeing, Srei Infrastructure, Jet Airways, Indiabulls Real Estate, Indiabulls Housing Finance and Reliance Capital are among the 77 companies with a probability of default risk of more than 0.52%, compared with 24 in early 2018, according to estimates. to Bloomberg's data.
Sebi investigation against 5 advanced brokers
The regulator of the financial markets is at an "advanced stage" of the investigation against five of the major brokers in the scam of the National Spot Exchange (NSEL), said two Foreign Foreign Investors (REITs) bought Wednesday shares for an amount equivalent to 961 billion rupees
. The DII data was net crore of 330 rupees, suggested data.
Senbad Wednesday
BSE Senbad earned 203.81 points, or 0.57%, Infosys contributing to more than half of the index gains. Increases in bank stocks and Reliance Industries also pushed up the index of 30 stocks up.
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