Remaining the 11th largest holder of the US Treasury securities, India increased its holdings by little over USD 6 billion in September compared to August.
Nifty likely to head higher in the coming week as long as it holds above 10,250
The Nifty50 closed the week on a slightly muted note despite two back-to-back days of solid gains after Moody’s upgraded India’s sovereign rating for the first time in 13 years.
Experts feel crude oil prices is the risk to India that everyone knows, but the next key thing to watch out for would be Gujarat Assembly Elections (1st phase on December 9 and 2nd on December 14 and results on December 18), apart from RBI monetary policy (December 5-6) and Federal Reserve meet (December 12-13).
Given the Government’s response in expediting action on policy concerns in the wake of falling economic growth (multiple pullbacks in the GST regime, banking recap, MSP hikes), it would not be unfair to say that the NDA is at present a reactive administration.
DLF, United Spirits and Jubilant Foodworks are looking attractive on the charts, while Kotak Mahindra Bank, Federal Bank and ICICI Bank remain top banking picks, says Kunal Saraogi, CEO at Equityrush.com.
The changes are announced by Asia Index, a joint venture between S&P Dow Jones Indices LLC and BSE. The move is a part of Asia Index's semi-annual reconstitution results.
The Dow Jones Industrial Average fell 90.38 points, or 0.39 percent, to 23,367.98, the S&P 500 lost 4.53 points, or 0.18 percent, to 2,581.11 and the Nasdaq Composite dropped 6.85 points, or 0.1 percent, to 6,786.44.
The 10-year benchmark bond yield opened at 6.94 percent on Friday, 12 basis points higher than its previous close, and ended nearly flat at 7.05 percent.
The income-tax department on Friday seized about Rs 11 crore cash as part of its searches in the tax evasion probe against a broker and others said to be involved in the high-profile co-location case.
The Nifty50 opened at 10,324.55 and rose to an intraday high of 10,343. But, the index witnessed profit booking at higher levels as the index recorded an intraday low of 10,268 before closing the day at 10,283 up 68 points.
The 30-share BSE Sensex was up 235.98 points or 0.71 percent at 33,342.80 and the 50-share NSE Nifty gained 68.80 points or 0.67 percent at 10,283.60.
Banking & financials, auto, metals stocks and index heavyweights Reliance Industries (up 0.9 percent) and ITC (1.14 percent) helped the market close higher.
The government reforms, the growth potential and the macro stability are a big positives for the economy going forward, said Upasana Chachra, India Economist at Macquarie Capital Securities.
In the order of affordability, Bangalore stands out compared to Mumbai and NCR among the tier-I markets, Abhishek Bhandari, Senior Analyst, Property at Macquarie Capital Securities said.
The market watchdog is jointly working with the Insolvency & Bankruptcy Board to address the issue and the new guidelines will be issued this year itself, Sebi chairman Ajay Tyagi said here today.
Nivalis Partners’ Ayaz Motivala said that L&T Info will get incremental market share going ahead.
Recapitalisation would partly bridge the NPL provision gap and it would be concentrated more to the efficient and larger banks, Vishal Goyal, Head of Banks Research at UBS Securities India said,
Arvind Sanger of Geospehere Capital told CNBC-TV18 that the move has come as a positive surprise.
Jhunjhunwala said he is confident the ruling government will win Gujarat elections.
A Reuters investigation documented at least 12 cases of prescient messages about major Indian companies being posted in private WhatsApp groups.
Special Counsel Robert Mueller's team issued the subpoena last month for documents containing specified Russian keywords from more than a dozen officials, the Wall Street Journal reported.
It is a big day for investors in terms of the money they can make and the government which put in plenty of efforts to make this possible. It will be positive for equity markets, bonds as well as currency.
In an interview to CNBC-TV18, SP Tulsian of sptulsian.com shared his readings and outlook on the fundamentals of the market, and specific stocks and sectors.
A quick check on what could trigger the markets today.