Wednesday, 8 February 2017

RBI Monetary Policy : Urjit Patel To Present Sixth Bi-Monthly Policy Shortly

Reserve Bank of India Governor Urjit R Patel will address the media following the sixth bi-monthly monetary policy where the six-member RBI Monetary Policy Committee (MPC) will decide if there is a need for a revision in the Repo Rate.
Repo rate, which is the rate at which banks borrow short-term funds from the central bank, now stands at 6 percent. Markets expect a 25 basis point rate cut on Wednesday after the MPC surprise December pause and demonetisation.
RBI will have more room to reduce benchmark rates following the government’s goal to keep the fiscal deficit target at 3.2 percent of the GDP in FY18.
Economists expect a 25 basis points cut in the repo rate with CPI inflation under control.
It is expected to be a close call for the Monetary Policy Committee and RBI Governor Urjit Patel. 
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Nifty Choppy as Investors Await Cues From Monetary Policy

The 30-share BSE Sensex was down 29.96 points at 28305.20 and the 50-share NSE Nifty gained 0.15 points at 8768.45. About 1446 shares advanced against 1112 declining shares on the BSE.
Earnings growth this quarter might remain soft, but investors are in the mood to invest and there is palpable optimism around India, said Rashesh Shah of Edelweiss Financial.
Corporate India has managed to limit the impact of demonetisation by trimming discretionary expenditure, he said.
HDFC Bank, Tata Motors, TCS, M&M, Wipro and Cipla gained 0.5-1.5 percent while ITC, Infosys, Axis Bank, ICICI Bank, HDFC and L&T were under pressure.
Crude oil prices declined as a massive increase in US fuel inventories and a slump in Chinese demand implied that global crude markets remain oversupplied despite OPEC-led efforts to cut output. Brent crude futures, the international benchmark for oil prices, were trading at USD 54.77 per barrel, down 0.44 percent, from their previous close. More Information visit:- www.researchinfotech.in and Call : 8982890444

Tuesday, 7 February 2017

Research Infotech Morning Update - Sensex, Nifty Open Flat; Investors Cautious Ahead of RBI Policy

Equity benchmarks started off Wednesday's trade on a cautious note ahead of outcome of two-day monetary policy committee meeting due later in the day. 
The 30-share BSE Sensex was up 20.75 points at 28355.91 and the 50-share NSE Nifty gained 0.80 points at 8769.10. Infosys, Wipro, BHEL, Hero Motocorp, TCS, ITC, Axis Bank, Hero Motocorp and UltraTech Cement were early losers while Tata Steel, Tata Motors, HUL, Sun Pharma, NTPC, Hindalco, Tech Mahindra and Cipla were gainers.
The Indian rupee has opened marginally higher at 67.38 per dollar today versus previous close of 67.41.
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Research Infotech Closing Update

Gainers
SymbolLTP% chngVolume
BHEL
BPCL
LT
INFY
BANKBARODA
151.35
717.50
1,501.60
946.00
186.45
5.07
1.72
1.20
1.15
1.00
4,50,74,229
22,78,432
16,65,380
46,33,181
1,03,93,546

Losers
SymbolLTP% chngVolume
TATAMOTORS
TATAMTRDVR
COALINDIA
HINDALCO
LUPIN
507.10
319.00
317.50
186.40
1,469.00
-3.57
-3.41
-2.32
-1.95
-1.81
79,83,868
23,48,638
56,68,669
1,06,19,511
11,00,003

PNB Q3 profit up 4-fold at Rs 207cr, slippages down at Rs 4800cr

State-run lender Punjab National Bank ‘s profit increased four-fold to Rs 207.2 crore in October-December quarter compared with Rs 51.01 crore in same quarter last year. It was driven by other income and lower provisions.
Net interest income, the difference between interest earned and interest expended, fell 9.4 percent year-on-year to Rs 3,730.80 crore in October-December quarter, with negative loan growth of 1.8 percent at Rs 3.85 lakh crore.
Deposits growth for the quarter was 11.6 percent at Rs 6.12 lakh crore compared with Rs 5.48 lakh crore in corresponding quarter of last fiscal, the bank said in its filing. Currency demonetisation helped deposits grow in Q3. 
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Monday, 6 February 2017

Nifty Struggles Below 8800 | BHEL and Hexaware up

Equity Benchmarks continued to trade lower in morning, tracking negative Asian cues and due to profit booking. Investors turned cautious ahead of monetary policy committee decision due tomorrow.
The 30-share BSE Sensex was down 73.04 points at 28366.24 and the 50-share NSE Nifty fell 24.15 points to 8776.90 while the market breadth was moderately positive.
Tata Motors fell more than 2 percent after a 4 percent growth in JLR total retail sales at 47,693 units in January year-on-year.
Hexaware Technologies gained 2 percent as quarterly earnings beat analysts’ expectations. Profit in Q3 grew by 9 percent and revenue by 4 percent QoQ.
BHEL shares climbed 2.7 percent ahead of quarterly earnings due later today. A CNBC-TV18 poll expects profit at Rs 31 crore against loss of Rs 1,100 crore in year-ago quarter.
ITC was off day’s high, up 0.9 percent after the government sold 2 percent stake in opening trade today. The government held 11.12 percent stake in the cigarette major through SUUTI. Research Infotech provides you accurate tips related to the stock and share market with great accuracy percentile. For more information visit:-www.researchinfotech.in and Call : 8982890444

Research Infotech Morning Update - Nifty Below 8800, Sensex Lower

The Market opened moderately lower on Tuesday as investors awaited monetary policy committee decision due tomorrow. 
The 30-share BSE Sensex was down 11.54 points at 28427.74 and the 50-share NSE Nifty fell 8.35 points to 8792.70. BHEL, ITC, Sun Pharma, Wipro, GAIL, Aurobindo Pharma and IndusInd Bank were early gainers while Dr Reddy's Labs, ICICI Bank, Bharti Airtel, Axis Bank, ONGC, ACC and Eicher Motors were under pressure. 

The Indian rupee has started off the day on a weak note with all eyes on RBI policy tomorrow. The currency opened at 67. 29 per dollar, a loss of 8 paise against yesterday's closing of 67.21 per dollar. 
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Research Infotech Closing Bell - Sensex, Nifty End at 5-month High; Ambuja, ACC, Sun Pharma up 4%

Benchmark Indices ended at 5-month closing highs on Monday, with the Sensex rising 198.76 points to 28439.28. Nifty Midcap also ended at fresh closing high. 
The 50-share NSE Nifty gained 60.10 points at 8801.05. About 1862 shares advanced against 1068 declining shares on the BSE. 
Ambuja Cements, Sun Pharma, ACC, ICICI Bank and Aurobindo Pharma were top gainers, up 3-4.5 percent followed by Adani Ports, Axis Bank and BHEL while Dr Reddy's Labs, Cipla, ONGC, Hindalco, Coal India and SBI were under pressure.
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