Today
Markets were up by 100.01 points BSE being 27931.64 and Nifty by 28.6 points being 8495.15. Indian equities gained higher amid fresh buying in health care and consumer durables. Export oriented stocks like Sun Pharma hogged the limelight as the rupee dropped to a near two year low. Metal stocks were down due to gloomy Chinese economy.
On the global front Asian Equities ended lower barring China as Investors awaited cues over U.S. monetary tightening policy. The Make IN India policy have made Smart Phones manufactured in India share jump to 24.8%. To pull in Foreign Investment Government has raised the FDI cap in the Insurance sector and Defence. It has relaxed policy in Railways, Construction and Medical devices sector.So, these stocks can be looked into. Under Current of Market is good. HAPPY TRADING AND INVESTING.I will not be there next week.
Today
Today market was down, BSE went down by 354 points to 27512 and NSE went down by 113 points to 8349.The markets are good in a way because they were over valued. The correction was much necessary, the devaluation of the Chinese currency Yuan has made the China cheaper as it can dump its goods in the International market. That is why, Tyre manufacturers are in trouble as one in four tyres that come into China are from India.
It will be a problem for the Indian currency as it has become very weak and imports which are required as raw materials for Industry will suffer. Luckily crude has come down so for India were we import a substantial quantity of crude will be cheaper making us spend less on crude. Software exports will be good as Rupee has gone down steel stocks did well, as the Government has increased import duty on steel. The Consumer Price Index slumped by 3.78%
The Industrial output rose to a four month high of 3.8% compared to 2.7% in the previous month.The passing of the GST in the Rajya Sabha appears to be doubtful due to pandemonium in parliament. Non passing of GST is a negative to market. The increase in Industrial production and fall in consumer price index is good news for the market. Trade and invest carefully HAPPY TRADING AND INVESTING.
TODAY
Today markets were up. The NSE went up by 51 points touching 8567 and the bse went up by 151 points touching 28223. Bank stocks reacted especially Canara Bank which fell to Rs 304 down by Rs 5.40 as the 1st quarter net profit fell due to a huge spike in provisions. FMCG stocks did well. Marico reported good 1st quarter profits and volume of business has grown by 5%. Public sector Banks dont seem to be on a good wicket, as they have a lot of NPA s and provisions. It is yet to be seen, with the Government recapitalising them how they perform?All stocks are moving up except telecom, due to the rise in cost of airwaves and increasing operation costs.
One should be extra cautious while you trade now, as it is tempting to do business as every share is rising. Book profits periodically and enter at low levels. HAPPY TRADING AND INVESTING.