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Showing posts with label ICICI Bank News. Show all posts
Showing posts with label ICICI Bank News. Show all posts

Thursday, April 4, 2019

Sensex, Nifty open flat ahead of RBI meet; bank in focus


Market Opens: It is flat start for the Indian indices ahead of RBI policy meeting.
At 09:19 hrs IST, the Sensex is up 45.55 points at 38922.67, while Nifty is up 5 points at 11649. About 523 shares have advanced, 307 shares declined, and 52 shares are unchanged. 
Indiabullls Housing, Hero Motocorp, Titan, UltraTech Cement, L&T, Vedanta, Bharti Airtel, SRF, Godrej Agrovet are among major gainer, while losers are Wipro, HCL Tech, Zee Entertainment, UPL, BPCL, JSW Steel and Tata Steel.
On the sectoral front, except IT and metal, all other sectoral indices are trading in green.
Rupee Opens: The Indian rupee opened lower by 11 paise at 68.53 per dollar on Thursday versus 68.42 yesterday.
Source:https://www.moneycontrol.com/news/business/markets/market-live-sensex-nifty-open-flat-ahead-of-rbi-meet-bank-in-focus-3759791.html

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Wednesday, April 3, 2019

Nifty hits record high: 10 stocks rallied 22-42% as index gained 1,160 pts


The optimism driven by increasing FII inflows helped Nifty50 to surpass its previous record high of 11,760.20 (touched in August 2018) on April 3 morning.
The index took 146 trading sessions to hit new record high of 11,761 on April 3. The rally actually started in February 2019, especially after opinion polls which indicated that ruling party can win 260-270 seats in general elections 2019.
FIIs have bought equity worth more than Rs 50,000 crore since February.
The Nifty50 has added 1,160 points and the BSE Sensex surged nearly 3,900 points since February 19, 2019.
The correction is over for the time being and the market is in uptrend. In fact, we are in a bull run started in 2013, though there were corrections in between. After September-October 2018 correction market nicely bounced back," Ramesh Damani, Member BSE said in an interview to CNBC-TV18.
Volatility is always associated with elections which come and go, the market is still in bull run and hope the Sensex will go above 40,000 and beyond soon, he added. However, as the market has rallied more than 10 percent and is at higher end of range, he would be cautious.
Among Nifty50, 46 stocks participated in the rally out of which top 30 stocks gained 10-42 percent.
Stocks that gained the maximum in last one-and-half-month are Indiabulls Housing Finance, Yes Bank, Hindustan Petroleum, Tata Motors and Indian Oil Corporation.
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The stellar run was not restricted to benchmark indices only, in fact it spilled over to broader market as well which had underperformed since January 2018.
The Nifty Midcap index spiked nearly 14 percent and Smallcap index jumped 18 percent.
“Fresh highs were bound to happen as the force behind the trend looks intact for the further gains that may push Nifty to touch beyond 12K mark and Sensex beyond 39,500,” Mustafa Nadeem, CEO, Epic Research told Moneycontrol.
“Lower inflation, lower interest rate scenario, a dovish stance from Fed reserve and liquidity-driven markets, all these factors are favoring the current scenario,” he said.
The rally was across sectors with Nifty Bank, energy, financial service, infra, metal and realty gaining the most (12-20 percent). PSU Bank, the biggest underperformer due to NPA concerns, turned biggest gainer with 27 percent upside since February 19.
Source:https://www.moneycontrol.com/news/business/markets/nifty-hits-record-high-10-stocks-rallied-22-42-as-index-gained-1160-pts-3753061.html

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Friday, March 29, 2019

International Market Update



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Indices begin April series firm, Nifty above 11,600; Vodafone Idea gains 14%

Market Opens: It is a strong start for the April F&O series on Friday with Nifty above 11,600 level.
At 09:18 hrs IST, the Sensex is up 171.30 points or 0.44% at 38717.02, and the Nifty up 49.60 points or 0.43% at 11619.60.  About 592 shares have advanced, 203 shares declined, and 50 shares are unchanged. 
The gainers are IOC, Indiabulls Housing, Hindalco, Wipro, Tech Mahindra, RIL, BPCL, Can Fin Homes, Vodafone Idea, Jet Airways, PFC, REC while losers include Axis Bank, IndusInd Bank, Eicher Motors, SBI life and Motherson Sumi.
All the sectoral indices are trading in green led by metal, energy, infra, IT, pharma and auto.
Rupee Opens: The Indian rupee gained in the early trade on Friday. It opened higher by 10 paise at 69.24 per dollar versus previous close 69.34.

Source:https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-indices-begin-april-series-firm-nifty-above-11600-vodafone-idea-gains-14-3722631.html

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Tuesday, March 26, 2019

Larsen & Toubro gains after hydrocarbon engineering division bags order


Larsen & Toubro shares gained nearly a percent in the morning trade on March 26 after its hydrocarbon engineering division bagged an order in Oman.
The stock was quoting at Rs 1,381.75, up Rs 4.55, or 0.33 percent on the BSE, at 1012 hours IST.
"The wholly-owned subsidiary L&T Hydrocarbon Engineering Limited has won a large order from Tawfiq Coke Products-Oman," the engineering and construction major said in its exchange filing.
The contract scope includes the selection of technology licensor, FEED & EPC for a 2 x 225,000 TPA plant of calcined coke from green pet coke.
"This award will further reinforce L&T's operations in Oman and provide an opportunity to contribute to the expansion of industrial facilities in Sohar," the company said.

Source:https://www.moneycontrol.com/news/business/markets/larsen-toubro-gains-after-hydrocarbon-engineering-division-bags-order-3700871.html

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Saturday, March 23, 2019

Nifty may consolidate ahead of March expiry; HDFC Bank, ICICI, SBI top bets


Since the index is already up for 12-13 trading sessions, one should wait for some price and time correction to take place to initiate fresh long positions, Arun Kumar, Market Strategist, Reliance Securities, said in an interview with Moneycontrol’s Kshitij Anand.
Q) What is fuelling a rally in Nifty Bank and near-term target? Any stocks particularly in that index which are still looking attractive after recent rally?
A) The sharp breakout of NiftyBank index seen on March 5, 2019, triggered bullish signals on a near-term basis. On March 7, the Bank index surpassed its high of 27,754 recorded on January 9, 2019, on a closing basis.
This move confirmed the breakout and attracted long-term participation. Stocks, especially Axis Bank and ICICI Bank, improved the bullish sentiments with their sharp rallies.
Since the index is already up for 12-13 trading sessions, one should wait for some price and time correction to take place to initiate fresh long positions.
HDFC BankICICI BankSBI and Axis Bank may be considered for going long, post the corrective action.
Q) Mid and small-cap stocks which have been hitting 52-week highs on consistently. Are they still worth looking at?
A) The NSE Midcap Index has consolidated around its long-term average for the past eight trading sessions and the index has moved up significantly after testing its 200-week moving average over the past five weeks.
Whereas, NSE Small-cap Index has been hovering just below its 200-DMA for the past nine trading sessions. It trades just below its 200-week moving average.
From a relative strength perspective (RSI), NSE Small-cap index displays better strength. Considering the behaviour of these indices against the benchmark, one must be very selective and trade in qualitative stocks.
Q) How is Nifty looking on charts ahead of the March F&O expiry?
A) The NSE Nifty50 Index is stretched on the near-term basis and may consolidate ahead of the expiry. Since the index is positive on a medium-term basis, we expect any corrective action to be limited. Ideally, it should hold above 11,250 on closing basis during next week to maintain its positive momentum.
Q) How are Airline stocks such as IndiGo, SpiceJet, and Jet Airways looking on charts?
A) IndiGo continues to rule the roost as the leader in this pack. It is the outperformer. The stock has scope to retain its leadership on a medium-term basis.
SpiceJet comes in as the second-best stock to trade and based on the setups it could generate positive returns on a medium-term basis.
However, Jet Airways has underperformed and there are no immediate signs of reversing this trend.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Source:https://www.moneycontrol.com/news/business/markets/nifty-may-consolidate-ahead-of-march-expiry-hdfc-bank-icici-sbi-top-bets-3686931.html

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Wednesday, March 20, 2019

Closing Bell: Sensex ends higher, Nifty holds 11,500; PNB gains 3%

Market Close: Benchmark indices ended mixed after they remained range bound throughout Wednesday. 
The Sensex was up 23.28 points at 38386.75, while Nifty was down 11.40 points at 11521. About 1104 shares have advanced, 1532 shares declined, and 173 shares are unchanged. 
Indiabulls Housing, Hindalco Industries, Infosys, Dr Reddy’s Labs and Wipro were among major gainers, while losers include HPCL, Zee Entertainment, BPCL, NTPC and ONGC on the Nifty.
Except bank, pharma and IT all other sectoral indices are ended in red led by auto, metal, energy, FMCG and infra.
Source:https://www.moneycontrol.com/news/business/markets/closing-bell-sensex-ends-higher-nifty-holds-11500-pnb-gains-3-3669791.html

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Saturday, March 16, 2019

US oil retreats from 2019 high on soaring production


US crude futures eased slightly on March 15 after hitting a 2019 high, as worries about the global economy and robust US production put a brake on prices.
West Texas Intermediate (WTI) crude oil futures settled down 9 cents at $58.52 a barrel, having hit their highest so far this year at $58.95.
Brent crude futures settled down 7 cents at $67.16 a barrel, below their 2019 peak of $68.14 reached on March 14.
US crude ended the week 4.1 percent higher, and Brent was up 1.9 percent.
"The market is taking a pause as it tries to digest mixed reports that give us different ideas of future supply and demand," said Phil Flynn, an analyst at Price Futures group in Chicago. "The OPEC-plus meeting could give us a little direction," he said.
The Organization of the Petroleum Exporting Countries and its allies including Russia, an alliance known as OPEC+, agreed last year to cut production, partly in response to increased U.S. shale output.
OPEC+ ministers will meet on April 17-18 to decide production policy.
"If OPEC+ decide to extend (cuts) ... we expect that inventories will continue to draw through at least Q3," US investment bank Jefferies said.
The International Energy Agency said on March 15 that the market could show a modest surplus in the first quarter of 2019 before flipping into a deficit in the second quarter by about 0.5 million barrels per day (bpd).
It said a comfortable supply cushion by OPEC could prevent any price rally in case of possible disruptions and that non-OPEC oil output growth led by the United States should ensure demand is met.
US energy firms this week reduced the number of oil rigs operating for a fourth week in a row, with drilling slowing to its lowest in nearly a year, prompting the government to cut crude output growth forecasts.
Drillers cut one oil rig in the week to March 15, bringing the total count down to 833, the lowest since April 2018, General Electric Co's Baker Hughes energy services firm said in its closely-followed report on Friday.
Oil price gains have been limited by concerns that an economic slowdown that has gripped large parts of Asia and Europe will dent growth in fuel demand.
But oil consumption has held up so far.
Crude oil use in China, the world's biggest importer, in the first two months of 2019 rose 6.1 percent from a year earlier to a record 12.68 million bpd, official data showed this week.
Goldman Sachs said growth in global demand for crude in January was "nearly 2.0 million barrels per day, with strength visible in both emerging markets and developed economies."
Source:https://www.moneycontrol.com/news/business/commodities/us-oil-retreats-from-2019-high-on-soaring-production-3653221.html

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Thursday, March 14, 2019

Nifty forms bearish candle; consolidation likely but 11,383 crucial for bulls


The Nifty50 took a breather on March 14 and closed flat after witnessing a rally in previous three consecutive sessions. The broader markets also barely changed against its previous close.
The index remained in a range of 30 points for major part of the session and formed bearish candle on the daily charts as closing is way below its opening price.
Considering breather after a three-day rally indicates that there could be some more consolidation in the coming session, but the major downside is unlikely, experts said, adding 11,383 is crucial level for bulls.
The Nifty50 after positive opening at 11,382.50 traded higher for nearly one hour and hit an intraday high of 11,383.45 after RBI's latest statement on liquidity infusion in the system. But the index failed to sustain those gains and hit a day's low of 11,313.75. The index remained rangebound for major part of the session and closed at 11,343.30, up 1.60 points.
"Nifty50 registered a bearish candle on intraday charts, suggesting that market hit a pause mode for time being," Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory at Chartviewindia.in told Moneycontrol.
He said, in next trading session if Nifty slips below 11,313 then it shall attract further selling pressure for the day which may then hint at a short term top around March 14 high of 11,383. In such a scenario initial target shall be in the zone of 11,227–11,180, he added.
As twin momentum oscillators, which usually have higher accuracy in catching short term turning points are on sell mode, he advised traders to refrain from maintaining or creating fresh long positions at this juncture.
India VIX moved down by 0.98 percent to 15.12. VIX has been hovering near to 15 but it has recently declined from higher zones which is supporting the overall bullish stance, experts said, adding option band signifies a shift in higher trading range in between 11,150 to 11,450 zones.
On Option front, maximum Put open interest (OI) is at 11,000 followed by 11,200 strike while maximum Call OI is at 11,500 followed by 11,400 strike.
Put writing is at 11,300 followed by 11,200 strike while Call writing is at 11,400 followed by 11,500 strike.
"On immediate basis Nifty index has to continue to hold above 11,280 to extend its upmove towards 11,400-11,450 while on the downside support exists at 11,280 then 11,222," Chandan Taparia, Associate Vice President | Analyst-Derivatives at Motilal Oswal Financial Services said.
Bank Nifty opened positive and hit a fresh life-time high of 29,070, however, it failed to hold above 29,000 and slipped marginally towards 28,800. It later recovered from lower levels but formed a bearish candle on the daily scale. The index closed 38.80 points higher at 28,923.10.
"Now it has to continue to hold above 28,688 to extend its momentum towards new life-time high of 29,000 then 29,250 while on the downside major support exists at 28,500 then 28,388," Chandan Taparia said.
Source:https://www.moneycontrol.com/news/business/markets/technical-view-nifty-forms-bearish-candle-consolidation-likely-but-11383-crucial-for-bulls-3647341.html

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Indices off day's high, Nifty trades flat; Power Grid Corp falls 3%

Market opens: It is a firm start for the Indian indices on Thursday morning with Nifty around 11,370 level.
The Sensex is up 131.80 points at 37883.97, while Nifty is up 32.80 points or 0.29% at 11374.50. About 566 shares have advanced, 268 shares declined, and 56 shares are unchanged. 
DHFL gained 5 percent, followed by Lemon Tree, Lupin, Zee Ent, Indianbulls Housing, HCL Tech, Axis Bank, Yes Bank, Infosys are among the major gainers on the indices, while losers include Power Grid, BPCL, Tata Motors, Adani Ports and HPCL.
Among the sectors, FMCG, infra and energy are trading marginally lower, while IT, metal, pharma, and auto witnessing buying interest.
Rupee Opens: The Indian rupee opened lower by 14 paise at 69.67 per dollar on Thursday versus previous close 69.53.
Source:https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-nifty-around-indices-off-days-high-nifty-trades-flat-power-grid-corp-slumps-3-3644301.html

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Monday, March 11, 2019

Nifty ends above 11,150, Sensex gains 382 pts; metal stocks outperform

Market at close: Indices ended on strong note on Monday as bulls took charge of the Dalal Street with Sensex closed above 37,000, while Nifty finished above 11,150 mark.
The Sensex was up 382.67 points at 37054.10, while Nifty was up 132.60 points at 11168. About 1735 shares have advanced, 911 shares declined, and 163 shares are unchanged. 
Bharti Airtel, HPCL, BPCL, Eicher Motors and Bharti Infratel were the top gainers on the Nifty, while losers include NTPC, Zee Entertainment, TCS, Tech Mahindra and HCL Tech.
Except IT index, all other sectoral indices ended in green led by auto, energy, infra, metal, PSU bank, pharma and FMCG.

Source:https://www.moneycontrol.com/news/business/markets/closing-bell-nifty-ends-above-11150-sensex-gains-382-pts-metal-stocks-outperform-3629741.html

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Thursday, March 7, 2019

Nifty holds above 11,050 in flat trade; metal stocks under pressure

Market Opens: It is a firm start for the Indian indices on Thursday with Nifty trading above 11,050 level.
The Sensex is up 45.83 points at 36681.93, while Nifty is up 4.40 points at 11057.40. About 557 shares have advanced, 285 shares declined, and 45 shares are unchanged. 
IndusInd Bank, Power Grid, HPCL, IOC, BPCL, Tata Motors, Titan, Zee Ent, Gail, Bharti Airtel are some of the gainers in the early trading session, while losers include Biocon, Indiabulls Housing, Tata Steel, Vendata, JSW Steel.
Among the sectoral indices, metal index is under pressure with 1 percent cut, followed by auto, pharma and PSU Bank, while some buying is seen in the energy, infra, FMCG and IT.
Rupee Opens: The Indian rupee gained in the early trade on Thursday. It opened higher by 20 paise at 70.08 per dollar versus previous close 70.28.
Source:https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-nifty-holds-above-11050-in-flat-trade-metal-stocks-under-pressure-3616981.html

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Wednesday, March 6, 2019

Sensex gains 150 pts, Nifty around 11,050; Wipro, ITC in focus

Market Opens: It is strong start for the benchmark indices on Wednesday with Nifty opens above 11,000 level.
The Sensex is up 158.64 points at 36601.18, while Nifty is up 47.10 points at 11034.60. About 777 shares have advanced, 146 shares declined, and 43 shares are unchanged 
Wipro, Indiabulls Housing, L&T, HPCL, BPCL, ITC, Vedanta, Grasim, DHFL, are the top gainers on the indices, while losers are Bharat Forge, Reliance Capital 
All the sectoral indices are trading green, while midcap and smallcap also up 0.6 percent.

Source:https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-sensex-gains-150-pts-nifty-around-11050-wipro-itc-in-focus-3612041.html

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Opening Bell


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Saturday, March 2, 2019

February keeps up box office momentum in 2019 with business of over Rs 300 crore


While January set the pace for Bollywood in 2019 with collections in the range of Rs 300- Rs 350 crore, February is maintaining the momentum with revenues to the tune of Rs 310 crore. And this is despite no holiday advantage and an added pressure of school examinations.
The month saw films like multi-starrer comedy flick Total Dhamaal and musical drama Gully Boy scoring high at the box office. For the Ranveer Singh-starrer Valentine's Day boosted the film's growth with the film having all the ingredients to attract the young audience.
On the day of love the film grabbed as much as Rs 19.40 crore which is close to 20 percent of the film's week one total. The right content at the right time helped Gully Boy enter the Rs 100 crore club in eight days.
On the other hand, the third installment in the Total Dhamaal franchise clicked with the family audience and managed Rs 99.30 crore in its first week.
Film trade experts are confident that Total Dhamaal will cross Rs 100 on day nine. Its overseas total also stands strong with a business of Rs 30.95 crore in seven days of its release.
While the film faced strong competition from the new release Luka Chuppistarring Kartik Aaryan and Kriti Sanon on day eight, it is still gathering steam.
Looking at Total Dhamaal's solid hold in theatres, film trade analyst Taran Adarsh said that contribution from mass pockets and single screens should not be overlooked and more movies that hold pan-India appeal should be made to expect ache din for trade.
With Total Dhamaal maintaining its rhythm and Luka Chuppi packing up strong revenues, it looks like the genre of comedy will keep the entertainment quotient high even in the month of March.
The other two releases during this month Amavas and Ek Ladki ko Dekha toh Aisa Laga did not contribute much to the overall collections as the former added only Rs 2.85 crore and the latter earned Rs 20 crore.  
But the month had something interesting to celebrate and that was Uri: The Surgical Strike trending even in its seventh week. The spillover effect of Uri added around Rs 66 crore to the grand total and the film yet shows no signs of slowing down despite competition from new releases and holdovers.
Down south a handful of films kept the audience entertained. Out of 10 releases from Tamil and Telugu industries together, RJ Balaji-starrer LKG made waves at the box office.
Reports estimate the film’s collection from the Tamil Nadu market at around Rs 10 crore and worldwide numbers at Rs 16 crore. LKG opened in theatres on February 22.
Telugu film NTR Mahanayakudu despite receiving positive reviews from critics could not hold strong at the box office. Its business in Andhra Pradesh and Telangana market remained disappointing as it could gather Rs 304 lakh by the end of four days of its theatrical run in the two territories.  
As for Hollywood, February saw some decent business coming from James Cameron’s Alita: The Battle Angelthat minted over Rs 8 crore total in India. However, it will be Captain Marvel that will up the interest amid the fan-base for Hollywood films in India.
Source:

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Friday, February 22, 2019

Closing Bell: Sensex, Nifty end a rangebound session flat; metal stocks outperform


Market Close: Benchmark indices ended flat on Friday after trading in narrow range throughout the day.
The Sensex was down 26.87 points at 35871.48, while Nifty was up 1.80 points at 10791.70. About 1602 shares have advanced, 906 shares declined, and 148 shares are unchanged. 
IOC, HPCL, JSW Steel, Vedanta and Yes Bank were the top gainers on the Nifty, while losers include Kotak Mahindra Bank, GAIL, HDFC Bank, Reliance Industries and Cipla.
Among the sectors, except energy and bank all other sectoral indices ended in green.
Source:https://www.moneycontrol.com/news/business/markets/sensex-nifty-end-a-rangebound-session-flat-metal-stocks-outperform-3570331.html

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Tuesday, February 12, 2019

JBM Auto rises nearly 2% after strong Q3 results


Shares of JBM Auto rose about 2 percent in early trade on February 12 after the company reported strong results for the quarter ended December 2018.
Consolidated net profit after tax rose to Rs 19.74 crore, up 14.6 percent from the same quarter last year.
JBM Auto's revenue from operations in Q3 was Rs 429.89 crore, an increase of 8.46 percent from the same quarter last year.
Earnings per share (EPS) for the third quarter rose to Rs 4.22 from Rs 3.71 in the corresponding quarter last year.
Source:https://www.moneycontrol.com/news/business/markets/jbm-auto-rises-nearly-2-after-strong-q3-results-3517961.html
At 0926 hours, JBM Auto was quoting at Rs 260.85, up Rs 3.80, or 1.48 percent.

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Closing Bell: Sensex ends 192 pts lower, Nifty below 11,600 even as RBI cuts rate

Market at close:  Benchmark indices ended lower but off day's low after Reserve Bank of India (RBI) slashed repo rate by 25 bps to 6...