"The current Indian bull market (which has delivered cumulative returns to date of 145 percent over the last four years) is all set for a final frenzy given post the “pause” in the closing months of 2016," says Saurabh Mukherjea is the CEO of Ambit Capital.
There is a lot of room for correction and it this point the midcap space still seems to be overvalued, and we would not recommend touching this counter right now, Nikhil Kamath, Co-founder and Head of Trading, Zerodha, said in an exclusive interview with Moneycontrol’s Kshitij Anand.
The foreign investors sold equities worth Rs 2,849.10 crore. However, domestic institutions bought Rs 2,368.01 crore worth of equities in last week.
Buying futures needs a surety of the direction as the payoff is linear but Options can still help you add returns due to its Non-Linear Payoff behaviour," says Shubham Agarwal CEO & Head of Research at Quantsapp Private Limited.
"A short-term bottom in place around a recent low of 10,276 levels. As the market has moved in a range bound manner in the current week between 10,637 – 10,398, traders should focus for breach of these levels and the move outside this range can be swift in the direction of the breakout," says Mazhar Mohammad Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in.
The Dow Jones Industrial Average rose 0.08 percent to end at 25,219.38 points, while the S&P 500 gained 0.04 percent to 2,732.22. The Nasdaq Composite dropped 0.23 percent to 7,239.47.
Flemingo Travel Retail, a leading duty-free and travel retail operator, has filed preliminary papers with the capital markets regulator Sebi to garner Rs 2,600 crore through an initial share-sale.
In March last year, a whole-time member of SEBI had passed an order calling for an investigation into the alleged manipulation of Gitanjali Gems shares
Infosys, India's second largest software services firm, today said it has divested its investment in OnMobile Systems Inc for USD 2.49 million.
Market valuation of Gitanjali Gems went down by Rs 300 crore in the last three trading sessions, as the counter saw severe selling pressure after the company came under scanner of various investigating agencies following Punjab National Bank's Rs 11,400-crore fraud detection.
This is its biggest fall since February 1, when it had lost 44 paise.
The index consolidated throughout this week, a pattern which is likely to continue in the coming week as well unless it breaks above 10,600.
Foundry Fuel Products' promoter BLA International today settled a case related to alleged disclosure lapses with markets regulator Sebi after paying Rs 2 lakh towards settlement.
The quantum of fraud itself is more than 8-times the bank's annual profit. The stock hit its 52-week low on both BSE and NSE today.
The 30-share BSE Sensex was down 286.71 points at 34,010.76 and the 50-share NSE Nifty was down 94.30 points at 10,451.20.
Both benchmark indices closed flat for the week, after losing nearly 6 percent in previous two weeks.
MSCI has condemned the move made by Indian exchanges to cut off the supply of data to SGX. In an interview with CNBC-TV18, Dipan Mehta, Member of BSE and NSE shared his views and readings on the same.
He believes the markets are not looking into any bubble territory, they look reasonable and healthy
Gupta expects Brent crude to be in the range of USD 55-60 a barrel for rest of 2018.
According to Satish Gupta of astrostocktips, telecom stocks like Reliance Communications, Idea Cellular, Bharti Airtel and MTNL will get astrological support.
Shares of Punjab National Bank continued to reel under pressure for the third consecutive day after the detection of Rs 11,400 crore fraud, slipping over 3 percent in morning trade on bourses.
The stocks that hit new 52-week high on NSE included KEC International and Polaris Consulting among others while Dena Bank, Punjab National Bank and Syndicate Bank were some of the stocks that hit fresh 52-week low.
Two important moniterables for the money market today - the first, RBI has moved to talk down yields by saying they are ready to inject additional liquidity. The second is the widening trade deficit. In an interview with CNBC-TV18, Ananth Narayan discussed the same to make sense of both pieces of news.
Punjab National Bank lost another 2 percent on top of 21 percent fall in previous two consecutive sessions. Gitanjali Gems tanked 19 percent on top of 20 percent correction in previous session.
Nifty Future is opening gap up by 50 points against yesterday’s close 10551 as indicated by SGX Nifty which is currently trading at 10585, says Dynamic Levels.