MidCap and SmallCap Indices have reached an overbought territory portending to minor profit booking on the cards before it resumes its uptrend.
The Sebi ban on Price Waterhouse or PwC (India), opens a pandora’s box in terms of the practices, competition and need for more players in auditing even as the troubled firm seeks a stay on the market regulator’s order.
Wipro, Infosys and HCL Tech gained the most on both indices, while Coal India, BHEL and Tata Power lost the most.
Investors are advised to watch the price action in the next couple of sessions.
Oil prices trade near 3-year high. Brent crude prices are now near levels last seen before the start of an oil market slump in late 2014. In an interview with CNBC-TV18, Mark To, Head of Research at Wing Fung Financial Group shared his readings and outlook on the same.
I expect the rupee to continue to appreciate and expect the USD-INR to trade within a range of 63.40-63.60, says Bhaskar Panda of HDFC Bank.
Spot gold was up 0.2 percent at $1,341.92 an ounce by 1238 GMT after touching its strongest since Sept. 8 at $1,344.44. The precious metal rose for a fifth straight week last week, gaining 1.4 percent.
The 10-year benchmark yield has been flat for a couple of days and expect it to trade within a range of 7.43-7.46 percent, says Bhaskar Panda of HDFC Bank.
A list of important headlines from across news agencies that could help in your trade today.
Investors are advised to watch the price action in the next couple of sessions to confirm the trend. Till then, they should remain long with a strict stop loss placed below 10,690 levels.
Japan's Nikkei stock index was slightly higher in early trading, but momentum was heavy with exporters struggling to shake off the effect of a stronger yen.
IT firm Newgen Software Technologies on Monday raised over Rs 127 crore from anchor investors ahead of its initial share-sale, which opens on Tuesday.
What is interesting about this market is that even though it has been growing in terms of total value, its growth rates have been muted.
Markets have moved well ahead of fundamentals riding on the liquidity influx by various central banks
The NITI Aayog committee formed for the purpose has made a presentation to the Department of Economic Affairs and is believed to have suggested bringing the import duty on gold to zero, from the current 10 percent.
According to the data, PE/VC exits almost jumped two-fold to USD 13 billion across 257 deals, driven by record level of exits via open market, secondary sale and IPOs.
The index formed an Inverted Hammer or Shooting Star kind of candle on the daily chart which indicates a pause in bounce back if follow up supply happens on next trading sessions. However, it still requires confirmation.
On an intraday basis, the Sensex gained over 370 points, while the Nifty gained around 100 points.
In an interview to CNBC-TV18, Joseph Little, Global Chief Strategist at HSBC Global AMC shared his views and readings on the global macros and micros.
Broadly, there were five reasons why the market in India rallied. These include factors such as a global rally, economic factors, gain in financials, pre-Budget upmove as well as technical factors.
This is in addition to 11 properties of the company that were auctioned in December as well as on January 10 and their combined reserve price was Rs 552 crore.
With the incidence of GST, the tax bracket for financial services has been hiked to 18% from the initial 15%. This has resulted in an increase in the price of life insurance products, especially the pure protection and endowment plans.
Given the build-up, I think 2018 will be a seminal year for the rupee and it could move up to as much as Rs 60 to the US dollar or go down right up to 70. It’s definitely not going to remain where it is.
HDFC Bank, Reliance Industries, HDFC, ITC and ICICI Bank are the positive contributors for the Sensex.
There were five reasons why the market in India has rallied. These include factors such as a global rally, economic factors, gain in financials, pre-Budget upmove as well as technical factors.