Indian ADRs: ICICI Bank, Infosys, Tata Motors slip

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Indian ADRs ended lower on Thursday. Tata Motors declined 0.19 percent and Wipro was down 0.18 percent.

Indian ADRs ended lower on Thursday. In the IT space, Infosys shed 1.35 percent at USD 14.64 and Wipro was down 0.18 percent at USD 5.62. FREE EQUITY TIPS ON MOBILE AND INDIAN STOCK MARKET RECOMMENDATIONS CALL ON 9644405056.

In the banking space, ICICI Bank slipped 1.01 percent at USD 8.84 and HDFC Bank fell 0.38 percent to USD 97.84

In the other sectors, Tata Motors declined 0.19 percent at USD 31.78 and Dr. Reddy’s Laboratories rose 5.72 percent to USD 37.72.

Wall Street edges up, shaking off healthcare, North Korea worries

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The Dow Jones Industrial Average fell 9.64 points, or 0.04 percent, to 22,349.59, the S&P 500 gained 1.62 points, or 0.06 percent, to 2,502.22 and the Nasdaq Composite added 4.23 points, or 0.07 percent, to 6,426.92.

The S&P 500 closed slightly higher on Friday even though Apple was a drag, as worries about Washington’s latest healthcare legislation proposal eased and investors shrugged off concerns about North Korea. Ripples Advisory Private Limited, Indore is also offering FREE EQUITY TIPS ON MOBILE so get it now.

Investors in the broader market were also encouraged by a jump in the Russell 2000 small-cap index, which ended with a record high close.

After a volatile day, the S&P’s healthcare sector ended 0.1 percent higher as insurance stocks regained ground after Republican Senator John McCain said he opposed his Republican peers’ latest effort to replace President Barack Obama’s health care law.

The S&P technology sector managed to eke out a small gain as investors had more appetite for risk even with a decline of 1 percent in Apple shares on muted reactions to the iPhone maker’s latest product launch.

“The removal of the healthcare overhang, the fact the North Korea market impact is dwindling and the move in the Russell 2000 has all the smart investors thinking that the grind higher continues.

The Dow Jones Industrial Average fell 9.64 points, or 0.04 percent, to 22,349.59, the S&P 500 gained 1.62 points, or 0.06 percent, to 2,502.22 and the Nasdaq Composite added 4.23 points, or 0.07 percent, to 6,426.92.

Some investors moved to safe-haven assets such as gold after North Korea said it might test a hydrogen bomb over the Pacific Ocean in response to US President Donald Trump’s threat to destroy the reclusive country.

But others felt that the market would cope with the ongoing stand-off between the countries, which has been ratcheting up in recent months.

Five of the 11 major S&P sectors ended the day lower and utilities led the decliners with a 0.7 percent loss. After falling as much as 0.5 percent, the healthcare sector ended 0.08 percent higher.

Earlier in the day concern about the Graham-Cassidy healthcare bill had wreaked havoc with insurers stocks. United Health closed down 1.1 percent after falling as much as 3.6 percent earlier in the day.

The small telecom services index, with only four stocks, was the biggest percentage gainer with a 1.4 percent rise on consolidation speculation while the energy index rose 0.5 percent as oil futures settled higher.

T-Mobile gained 1 percent after Reuters reported that the cellphone network operator was close to agreeing to tentative terms on a deal to merge with Sprint, whose shares jumped 6.1 percent.

The report also pushed up bigger rivals Verizon Communications and AT&T Inc, which could benefit from having one less competitor.

Advancing issues outnumbered declining ones on the NYSE by a 1.82-to-1 ratio; on Nasdaq, a 1.91-to-1 ratio favored advancers.

About 5.26 billion shares changed hands on US exchanges compared with the 6.03 billion average for the last 20 sessions.

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NTPC gets shareholders’ nod to raise Rs 15k cr via bonds

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Power giant NTPC today said it has received shareholders’ approval to raise Rs 15,000 crore via non-convertible bonds on private placement basis for CapEx, working capital, and other corporate purposes. The special resolution, listed on the agenda of the annual general meeting held, was passed by the requisite majority, NTPC said in a BSE filing. Offering Indian stock market recommendations and free equity tips on mobile -Call on 9644405056.

According to the proposal, the company will raise Rs 15,000 crore through non-convertible debentures (bonds) up to Rs 15,000 crore in one or more tranches or series not exceeding 30, through private placement, in the domestic market for capital expenditure, working capital, and other general requirements. Besides, the shareholders also approved the proposal to confirm payment of interim dividend and declare a final dividend for 2016-17. The company has already paid an interim dividend of Rs 2.61 per share and had recommended a final one of Rs 2.17 for 2016-17, which is 143 percent of the amount paid last year. Also on the agenda was a proposal to amend the Articles of Association with a view to inserting a provision for consolidation and re-issuance of debt securities.

This was also passed by the shareholders. Looking beyond its conventional power generation business, the company is eyeing diversification in allied sectors such as setting up electric vehicle charging infrastructure, ancillary services, and energy storage. Meanwhile, shares if the company was trading at Rs 165.05 apiece, down 1.81 percent from the previous close at 14:48 hours on BSE.

Investment in realty sector at USD 5 bn so far this yr: KPMG

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Institutional investors have put in USD 5 billion so far this year into the real estate sector, largely in commercial assets, according to KPMG. “USD 5 billion invested by institutional investors since the beginning of 2017 — a record year in the making,” the consultant said in a statement. Get free stock cash tips from Indian stock market call on 9644405056.

The investments are preferred in commercial assets such as office space and warehouses. “USD 111 million is the average deal size in 2017, which is more than double the deal size witnessed in last few years. USD 3 billion invested by pension and sovereign wealth funds since the beginning of 2017,” it added.

Private equity and NBFCs (non-banking financial companies) have become the preferred capital source for under- construction projects. “The year 2017 is on its course to witness highest annual investment in Indian reality in past decade, with about USD 5 billion worth of deals already closed so far,” said Neeraj Bansal, Partner and Head, ASEAN Corridor, Building, Construction and Real Estate, KPMG in India.

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Asia stocks edge lower, focus turns to China markets after ratings cut

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Japan’s Nikkei slipped 0.15 percent, Australian stocks advanced 0.1 percent and South Korea’s KOSPI fell 0.7 percent.

Asian stocks slipped on Friday but showed signs steadying as the dust began to settle after the Federal Reserve’s hawkish policy statement, while investors looked to see how Chinese financial markets would react to a downgrade on the nation’s credit rating. You can also have free stock cash tips from Indian stock market and more call us on 9644405056.

MSCI’s broadest index of Asia-Pacific shares outside Japan handed back earlier gains and was down 0.1 percent after falling 0.7 percent the previous day.

The index had risen to a decade high on Tuesday, lifted as Wall Street advanced to record highs, before moving off that peak after the Fed heightened expectations for a third interest rate hike this year.

Japan’s Nikkei slipped 0.15 percent, Australian stocks advanced 0.1 percent and South Korea’s KOSPI fell 0.7 percent.

It is difficult to pass a verdict on the Fed’s stance until it actually starts its balance sheet reduction and the markets can gauge its effects.

“Fundamentals continue to support emerging markets including those in Asia, although the Fed’s latest stance did add a layer of uncertainty going forward.”

The focus was also on how the Chinese financial markets would react to a downgrade of China’s credit rating when they open.

S&P Global Ratings downgraded China’s long-term sovereign credit rating on Thursday, less than a month ahead of one of the country’s most sensitive political gatherings, citing increasing risks from its rapid build-up of debt.

The S&P 500 lost 0.3 percent, snapping a four-day winning streak, the Dow fell 0.25 percent and Nasdaq dropped 0.5 percent on Thursday as the U.S. equity market braced for a third interest rate hike this year. The United States ordering new sanctions against North Korea was also seen to have weighed on Wall Street.

In currencies, the Australian dollar was steady at USD 0.7932 after sliding 1.2 percent the previous day to touch a three-week low of USD 0.7919.

The Aussie was hurt after Reserve Bank of Australia Governor Philip Lowe said on Thursday that the central bank does not have to follow a general move globally to raise interest rates.

A sharp drop in the price of iron ore, Australia’s main export commodity, to a two-month low, has also weighed on the currency.

The Dollar was steady at 112.445 Yen and on track to end 1.4 percent higher on the week, during which it brushed a two-month high of 112.725 as US yields spiked on the back of the Fed’s hawkish stance.

The Yen, often sought in times of geopolitical tensions, showed little reaction to US President Donald Trump ordering new sanctions against North Korea on Thursday.

The Euro barely moved at USD 1.1943 and on track to end the week 0.8 percent lower. Get daily Intraday news by Ripples Advisory Private Limited, Indore.


The Dollar index against a basket of six major currencies was effectively flat at 92.169 after slipping about 0.4 percent overnight. It has gained 0.3 percent on the week.

Crude oil prices were little changed amid a wait-and-see mood as ministers from the Organisation of the Petroleum Exporting Countries, Russia, and other producers meet later on Friday to discuss a possible extension of the 1.8 million barrels per day (bpd) of supply cuts to support prices.

While many analysts expect an extension of the deal beyond next March, a number of them also said that prices have risen high enough to tempt countries to boost production above agreed levels.

Brent crude was up 0.1 percent at USD 56.50 a barrel after reaching a five-month high of USD 56.53 overnight.

Indian ADRs: ICICI Bank, Infosys, Tata Motors slip

Indian Stock Market

Indian ADRs ended lower on Thursday. Tata Motors declined 0.19 percent and Wipro was down 0.18 percent.

Indian ADRs ended lower on Thursday. In the IT space, Infosys shed 1.35 percent at USD 14.64 and Wipro was down 0.18 percent at USD 5.62.

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In the banking space, ICICI Bank slipped 1.01 percent at USD 8.84 and HDFC Bank fell 0.38 percent to USD 97.84

In the other sectors, Tata Motors declined 0.19 percent at USD 31.78 and Dr. Reddy’s Laboratories rose 5.72 percent to USD 37.72.

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Wall Street pushed down by rate expectations

 

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The Dow Jones Industrial Average fell 53.36 points, or 0.24 percent, to 22,359.23, the S&P 500 lost 7.64 points, or 0.30 percent, to 2,500.6 and the Nasdaq Composite dropped 33.35 points, or 0.52 percent, to 6,422.69.

 

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US stock indexes slipped on Thursday as investors braced for a third interest rate hike this year and the United States ordered new sanctions against North Korea. You can also check the trading accuracy of Ripples Advisory Private Limited, Indore by taking our FREE EQUITY TIPS ON MOBILE.

The S&P and the Dow snapped a run of record closing highs and Apple was the biggest drag on the three major indexes with a 1.7 percent drop on worries about demand for its latest smartphone.

Investors increased bets the US Federal Reserve would raise rates again this year after the central bank’s statement on Wednesday and be also assessing its decision to start reducing it’s roughly USD 4.2 trillion in US Treasury bonds and mortgage-backed securities.

US President Donald Trump opened the door to blacklisting people and entities doing business with North Korea, further tightening the screws on Pyongyang’s nuclear and missile programs.

“The Fed had investors on edge already. Ratcheting up of North Korea tensions can put investors in a little more of a risk-off mode.

However, with the CBOE Volatility Index closing at its lowest level in nearly two months at 9.67, Peter Cecchini, chief market strategist at Cantor Fitzgerald in New York, said the market is not reflecting risks such as US-North Korea tensions and high valuations.

The market is “very complacent and very comfortable in its own skin right now and not really concerned about risk much at all,” said Cecchini: “I’m worried about that.”

The Dow Jones Industrial Average fell 53.36 points, or 0.24 percent, to 22,359.23, the S&P 500 lost 7.64 points, or 0.30 percent, to 2,500.6 and the Nasdaq Composite dropped 33.35 points, or 0.52 percent, to 6,422.69.

Fed Chair Janet Yellen said the fall in inflation this year remained a mystery, adding that the central bank was ready to change the interest rate outlook if needed.

Investors were pricing in about a 70 percent chance of a December hike, according to CME’s FedWatch tool, up from about 51 percent just prior to the Fed statement.

Only two of the 11 major S&P sectors – financials and industrials – were higher, with gains of 0.2 percent and 0.3 percent. The consumer staples index was the biggest decliner, down 0.97 percent drop.

Financial stocks have been on a tear in recent days as investors anticipated and then reacted to Fed commentary on rate hikes, which tend to help bank profits.

The S&P has risen about 11.7 percent so far this year, helped by strong corporate profits and lingering optimism among some investors that Trump will cut taxes for businesses.

This has boosted valuations. The S&P is trading at roughly 17.6 times expected earnings, well above its 10-year average of 14.3.

It’s very hard for me to see a tremendous catalyst for the upside, although I also don’t see that massive catalyst to create a crack to the downside.

Declining issues outnumbered advancing ones on the NYSE by a 1.35-to-1 ratio; on Nasdaq, a 1.24-to-1 ratio favored decliners.

About 5.54 billion shares changed hands on US exchanges on, compared with the 6.03 billion average for the last 20 sessions.

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Ripples Advisory Private Limited, Indore

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Indian Rupee trades at lowest level since April 5

There should be a consolidation in the spot USD-INR today and expected a range of 64.60-64.90 to hold for the day.

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The Indian Rupee slipped further as it traded at the lowest level since April 5, down 30 paise at 65.11 against the US Dollar. Here, are some FREE EQUITY TIPS ON MOBILE– Register NOW!

It has opened flat at 64.80 per Dollar on Friday versus previous close 64.81.

Yesterday Rupee plummeted by 54 paise to end at 64.81 a Dollar after the Federal Reserve left the door open for a rate hike in December.

The US Federal Reserve’s historic overnight decision rattled overall forex market sentiment, triggering panic Dollar buying from corporates and importers.

Dollar did a smart turnaround post the FOMC announcement.

The 10-year benchmark bond yield is also likely to consolidate today within the 6.65-6.70 percent range.

The Dollar pared gains after initially climbing on the Fed’s announcement.

Against the Yen, the Dollar is steady as the Japanese currency is largely unaffected by the Bank Of Japan’s announcement that it would keep its monetary policy steady.

 

Sensex falls 160 pts, Nifty opens below 10,100 post-North Korea threat

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9:35 am Pharma continues to outperform: Nifty Pharma index gained 0.2 percent, outperforming all other indices that are under pressure. Big NAVRATRI OFFERSFree Equity Tips on Mobile and more Call us on 9644405056.

Sun Pharma, Glenmark Pharma, Cadila Healthcare and Dr. Reddy’s Labs were up 0.1-1.1 percent.

9:30 am IPO subscription: The Rs 8,400-crore initial public offering of SBI Life Insurance Company has been subscribed 58 percent on the final day, as per latest data available on exchanges.

The issue received bids for 5.08 crore equity shares against IPO size of 8.82 crore shares, excluding anchor investors’ portion.