Moneycontrol
Last Updated : Jan 16, 2018 09:18 AM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Main indices likely to take winning streak to 4th consecutive session today

Investors are advised to watch the price action in the next couple of sessions.

Strong macro data and global rally fuelled markets on Monday

The index inched closer to 10,800 on Nifty and 35000 on the S&P BSE Sensex

Sentiment boosted on upbeat IIP data and supportive global cues, ignoring CPI inflation data

Banking and financial counters were in the limelight along with select stocks from media.

Bank Nifty outperformed to close with gains of over one percent, ICICI and HDFC were the top performers of the session.

Investors are advised to watch the price action in the next couple of sessions. Till then, they should remain long with a strict stop loss placed below 10,690 levels.

If the index manages to stay above 10,780 then the rally could stretch towards 10,800 levels.

Gold hits 4-month high as dollar index falls to 3-year low

Euro hits three-year high as Europe leads global optimism

Oil hovers near three-year high despite rising U.S. output

Rupee surges to one-week high, up 14 paise against dollar

The forex market got a new impetus last week after the country's factory output growth surged to a 17-month high of 8.4 percent in November, confirming that an economic recovery is underway.

FPIs bought Rs32 crore from equity markets

DIIs sold Rs173 crore shares in Indian equity market

Headlines

Finance Ministry likely to tweak Minimum Alternate Tax norms to boost industry

The purpose behind the introduction of MAT in the Income Tax Act was to bring all zero tax companies and to neutralise the impact of certain benefits/incentives.

Exports rise 12.36 percent to $27 bn in Dec|Trade deficit widens to over 3-year high in Dec

As per the data released by the Commerce Ministry, the trade deficit or difference between imports and exports was USD 14.88 billion, up about 41 per cent year-on-year.

ICRA Comments on exports: Despite elevated commodity prices, an unfavorable base effect is likely to weigh upon the pace of growth of exports and imports in Q4 FY2018. Overall, the current account deficit is likely to widen nearly three-fold to US$ 42-44 billion in FY2018 from US$15 billion in FY2017.

Diesel prices at record Rs 61.74/L, petrol crosses Rs 71/L

Diesel prices have touched a record high of Rs 61.74 per litre and petrol prices have crossed Rs 71 as international oil rates continue to rally.

Telecom to lose more jobs; on course to cull 90,000 more: Report

Faced with uncertainty, the once-sunshine telecom sector will continue to witness decline in headcounts for the next six-nine months taking the total number of job losses to 80,000-90,000, says a report.

RBI may revise upwards inflation forecast for the year

The Reserve Bank is likely to raise its inflation forecast for March and may leave the key rates unchanged in the upcoming policy review next month, says a report.

Barbeque-Nation gets SEBI's nod for IPO

Casual dining chain Barbeque- Nation Hospitality has received markets regulator SEBI's approval to raise an estimated Rs 700 crore through initial public offering (IPO).

NITI Aayog in talks with finance ministry for comprehensive gold policy

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.

Acharya terms regulatory dispensations akin to "steroids"

As lenders stare at a huge dent in profits due to spike in bond yields, Deputy Governor Viral Acharya today said banks have approached the Reserve Bank for a special dispensation, but the regulator is reluctant to accede to such requests.

Sebi may ask bourses to cut co-location charges in bid to level playing field

The aim is to ensure that all brokers, including the smaller ones, get equitable access to algorithmic trading—a fast-emerging market trend globally

Sebi summons individuals raided over leak of earnings reports on WhatsApp

Sebi has started seeking explanations on the data dump recovered from the electronic devices that were seized during the raids

Oil hovers near three-year high despite rising U.S. output

Oil hovered near a three-year high above $70 a barrel on Monday on signs that production cuts by OPEC and Russia are tightening supplies, although analysts warned of a "red flag" due to surging U.S. production.

PE investments in realty increase by 17% in 2017

Private equity investments in residential real estate declined almost 29 per cent in 2017 to Rs 15,600 crore as against 2016, mainly due to subdued market sentiment and implementation of various reforms that resulted in delay of home launches, a recent study said.

PE/VC investments, exits hit record in 2017 at $26.8b, $13b

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.

Public Provident Fund proceeds can be credited to an NRO account

If you are able to close the PPF account, under the Income-tax law, any amount received from PPF account is exempt from Income-tax in India

Newgen to launch Rs400 crore IPO on 16 January:

Newgen Software Technologies Ltd. Allots 51,99,444 equity shares at Rs. 245 per share  including share premium of Rs. 235. Newgen Software Technologies Ltd, a software products company, will launch an initial public offering (IPO) on 16 January, seeking to raise over Rs400 crore.
First Published on Jan 16, 2018 09:13 am
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