Indian ADRs end on positive Note led by HDFC Bank, ICICI Bank, Tata Motors

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In the banking space, ICICI Bank jumped 3.38 percent at USD 8.57 and HDFC Bank zoomed 4.16 percent at USD 98.66 and in the IT space, Infosys was up 0.68 percent at USD 14.71 and Wipro added 0.54 percent at USD 5.55.


Indian ADRs ended higher on Friday. In the banking space, ICICI Bank jumped 3.38 percent at USD 8.57 and HDFC Bank zoomed 4.16 percent at USD 98.66.

In the IT space, Infosys was up 0.68 percent at USD 14.71 and Wipro added 0.54 percent at USD 5.55.

In the other sectors, Tata Motors gained 2.12 percent at USD 32.79 and Dr. Reddy’s Laboratories was up 0.5 percent at USD 36.04.

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US Markets End in green, Treasury yields slip on US inflation Data

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The Dow Jones Industrial Average rose 44.28 points, or 0.19 percent, to 22,885.29, the S&P 500 gained 4.63 points, or 0.18 percent, to 2,555.56 and the Nasdaq Composite added 19.10 points, or 0.29 percent, to 6,610.61.

 

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Treasury yields were lower on Friday after muted underlying US inflation data offset higher gasoline prices and strong retail sales while the US dollar regained ground but was set for its worst week in five.

Stocks on major world markets, however, hit their fourth record high in a row, with Wall Street moving higher as some investors bet the inflation data could curb future rate hikes while others eyed trade discussions and retail data.

US consumer prices recorded their biggest increase in eight months in September as gasoline prices soared in the wake of hurricane-related refinery disruptions, but underlying inflation remained muted.

US retail sales recorded their biggest increase in 2-1/2 years in September as demand rose for building materials and motor vehicles in areas hurt by hurricanes Harvey and Irma.

Wall Street had a variety of drivers ranging from trade talks, which helped the materials sector, to oil prices, which boosted the energy sector, and retail data that helped consumer stocks.c

The Trump administration is seeking to use NAFTA to propose automotive content rules that require the use of North American-made steel, aluminum, copper and plastic resins.

The Dow Jones Industrial Average rose 44.28 points, or 0.19 percent, to 22,885.29, the S&P 500 gained 4.63 points, or 0.18 percent, to 2,555.56 and the Nasdaq Composite added 19.10 points, or 0.29 percent, to 6,610.61.

European shares rose to their highest in nearly four months, helped by corporate earnings updates.

The pan-European FTSEurofirst 300 index rose 0.22 percent and MSCI’s gauge of stocks across the globe gained 0.29 percent.

The Dollar was little changed against major currencies in the late afternoon, shaking off early weakness from the inflation data.

“We did see a knee-jerk reaction that was perhaps overdone. On more sober reflection, traders are coming to bid up the dollar,” said Karl Schamotta, director of global product and market strategy at Cambridge Global Payments in Toronto.

The US Dollar index rose 0.03 percent, with the Euro down 0.1 percent to USD 1.1817.

European Central Bank policymakers broadly agreed to extend asset purchases at a lower volume at their October policy meeting with views converging on a nine-month extension, sources at the central bank.

Benchmark 10-year US Treasury notes were last up 12/32 in price to yield 2.2819 percent, from 2.323 percent late on Thursday. The 30-year bond was last up 25/32 to yield 2.8144 percent, from 2.853 percent Thursday.

Oil prices firmed on Friday as bullish news from strong Chinese oil imports to turmoil in the Middle East put Brent on track for a nearly 2.8 percent weekly gain. US crude was on track for its fifth weekly gain out of six weeks.

US crude rose 1.54 percent to USD 51.38 per barrel and Brent was last at USD 57.11, up 1.53 percent.

Spot gold added 0.6 percent to USD 1,301.41 an ounce.


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16th October 2017- OPENING BELL >> Market May See Profit Booking As Cash Market Has Little Participation

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Nifty rallied on Friday and closed near its all-time high of 10178. On the other hand, Smallcap Index has not even touched its all-time high of 8093 which is raising a concern over the market sustainability. If today Smallcap does not participate and does not trade above its all-time high, we might see profit booking in the markets.

 

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In last 10days, FII and DII in combined have sold stocks worth Rs. 923.44 Crore in cash segment.
FII and DII activity in Cash Segment
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In last 10days, FII and DII in combined have sold stocks worth Rs. 923.44 Crore in cash segment.


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Indian Rupee Up 13 paise in opening trade

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Expected the spot USD-INR pair to trade in a range of 64.50-65 for the day, says Ripples Advisory, Indore.

 

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The Indian Rupee gained in the early trade on Monday. It has opened higher by 13 paise at 64.80 per Dollar versus 64.93 Friday.

Weak US Dollar and positive cues from domestic equity market will help the rupee strengthen.

The spot USD-INR pair to trade in a range of 64.50-65 for the day.

The Dollar was little changed against a basket of currencies on Friday, shaking off early weakness, after data showed US consumer prices rose less than expected in September, pointing to muted inflation that could worry Federal Reserve officials.

Although the bond markets reacted positively to the lower inflation data, the gains were capped as concerns over the fiscal situation and bond supply still persist. Yet another OMO sale was announced on Friday and so further gains are unlikely.

The subdued sentiment might lead to a resumption of the negative bias but the 10-year benchmark bond yield is likely to trade in a narrow range of 6.72-6.76 percent today.


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RBI imposes penalty of Rs 20 lakh on Religare Finvest- GET FREE STOCK CASH TIPS

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The Reserve Bank said that it has imposed a penalty of Rs 20 lakh on SME lender Religare Finvest for its failure to comply with regulatory directions. Giving details, the central bank said an inspection of the company was conducted during September-October 2015. “During the inspection, it was observed that the company has failed to comply with various directions/orders issued by RBI inter alia in respect of an assignment transaction,” it said.

A Show Cause Notice (SCN) was issued to Religare Finvest on November 7, 2016, for the purpose of imposing a penalty, the RBI said. The Religare Finvest’s response to the SCN was not found to be satisfactory, it said, adding the company was also accorded a personal hearing.

After considering the entire facts of the case and the company’s reply, the RBI “came to the conclusion” that the violations “as observed during inspection” were substantiated, which warranted the imposition of monetary penalty on the company. “Accordingly, a penalty of Rs 20 lakh has been imposed on the company,” the central bank said.


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13th October 2017- Opening Bell >> Huge Buy In Index Options By FII And PRO- Register NOW Free Stock Cash Tips

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Last day, the Indian Benchmark index Nifty witnessed a sharp rally and zoomed by 1.81%. The index opened at 10011 and gave sharp buying of 127 points after making a low of 9977 to finally close the index at 10096. In the Current Expiry, FII and PRO in combined have a buy position of 228158 contracts in Index Options which indicates further buying in the Index.

The Indian Rupee strengthened for fourth sessions to close at a one week high against the US Dollar. The INR closed at 65.05 against US Dollar up by 0.18%. The small-cap Index too witnessed a steep surge by 1.18% from its previous day close. The index opens at 7903 and closed at 7940 after making a low of 7858.

Among the Major Sectors, Metals and Mining were in top performers last day. Sun Flag Iron was the outperformer in the sector, which made an all-time high of Rs.83.40.

Among the Minor Sectors, Telecom was in top performers last day. Sterlite Technologies was the outperformer in the sector, which made an all-time high of Rs.274.50.


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Stocks in Asia subdued as investors await China trade data

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Japan’s Nikkei 225 was little changed, with the index sliding 0.04 percent a day after touching a 21-year high. Gains in retail names were offset by losses in blue-chip auto and tech stocks: Fast Retailing soared 3.53 percent, Toyota was off 0.71 percent and Softbank Group lost 0.45 percent.

 

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Markets in Asia were subdued on Friday after Wall Street slipped as investors awaited the release of China trade data during the session. U.S. inflation and retail sales data are also due just ahead of the trading day stateside.

Japan’s Nikkei 225 was little changed, with the index sliding 0.04 percent a day after touching a 21-year high. Gains in retail names were offset by losses in blue-chip auto and tech stocks: Fast Retailing soared 3.53 percent, Toyota was off 0.71 percent and Softbank Group lost 0.45 percent.

Across the Korean Strait, the Kospi hovered around the flat line, trading just 0.02 percent higher.

Down Under, the S&P/ASX 200 rose 0.17 percent. The health care and consumer staples sub-indexes led gains on the index, rising 0.58 percent and 0.57 percent respectively.

U.S. producer prices increased 0.4 percent in September, as investors awaited the release of the consumer inflation data due Friday U.S. time. That release is expected to show an annual inflation rate of 2.3 percent, according to forecasts compiled by FactSet.

Minutes released this week from the Federal Reserve’s previous meeting showed the central bank continued to be divided over the inflation outlook in the U.S.

The Dollar was stable after edging up against a basket of currencies overnight. The Dollar index stood at 93.090 at 8:24 a.m.

Against the Japanese currency, the greenback slipped to trade at 112.19 Yen.

Meanwhile, shares in the U.S. closed lower on Thursday after major U.S. financials reported quarterly results. Earnings from JPMorgan and Citigroup both beat expectations, but shares of the companies finished the session lower. The Dow Jones industrial average slid 0.14 percent, or 31.88 points, to close at 22,814.01.

Elsewhere, the pound was steady at $1.3262 at 8:25 a.m. HK/SIN — its highest level in more than a week. The currency had gained on Thursday after German outlet Handelsblatt reported that the U.K. could remain in the European Union for two more years.

In corporate news, Samsung Electronics said Friday third-quarter operating profit was likely to increase 179 percent compared to one year ago. The company estimated a record profit of 14.5 trillion won ($12.8 billion), above a median Reuters forecast of 14.3 trillion won. Shares of the company were off 0.88 percent, having rallied early this week on profit expectations.

Japan’s Asahi Group Holdings could sell its almost 20 percent stake in Tsingtao Brewery, according to Nikkei Asian Review. The move to divest from Tsingtao was in line with the Japanese brewer’s push to grow its business in Europe, Nikkei added. Asahi stock was up 0.75 percent.

Singapore GDP showed the economy grew 4.6 percent compared to the same quarter in the previous year. That was above the 3.8 percent growth median figure forecast by analysts in a survey.

Oil markets took note of the greater-than-expected decrease in U.S. stockpiles, with prices climbing slightly higher after settling down more than 1 percent in the last session. Brent crude futures edged up 0.25 percent to trade at $56.39 a barrel and U.S. West Texas Intermediate advanced 0.3 percent to $50.75.


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Indian ADRs: Tata Motors, Dr Reddy’s Lab, Infosys down

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Indian ADRs ended lower on Thursday. Infosys was down 1.22 percent and HDFC Bank fell 0.21 percent.

 

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Indian ADRs ended lower on Thursday. In the banking space, ICICI Bank was down 1.43 percent at USD 8.26 and HDFC Bank fell 0.21 percent to USD 93.40.

In the IT space, Infosys was down 1.22 percent at USD 14.58 and Wipro was unchanged at USD 5.50.

In the other sectors, Tata Motors declined 1.52 percent at USD 31.78 and Dr. Reddy’s Laboratories shed 1.07 percent at USD 36.13.

Indian Stock Market Live: Nifty opens above 10,100, Sensex up 100 pts; RIL, Bharti Airtel lead

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Bharti Airtel was up 6 percent, Tata Teleservices up 9 percent and Tata Communications up 2 percent after Airtel decided to buy consumer telecom business of Tata Sons. Bharti Infratel was up 3 percent.

 

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Equity benchmarks extended previous day’s gains in the opening, with the Nifty reclaiming 10,100 level and inching towards its record high level. The rally was driven by Reliance Industries and Bharti Airtel.

The 30-share BSE Sensex was up 113.08 points at 32,295.30 and the 50-share NSE Nifty rose 31.40 points to 10,127.80.

Bharti Airtel was up 6 percent, Tata Teleservices up 9 percent and Tata Communications up 2 percent after Airtel decided to buy consumer telecom business of Tata Sons. Bharti Infratel was up 3 percent.

Reliance Industries gained a percent ahead of second-quarter earnings later today.

Shriram EPC rallied 15 percent post bagging of multiple orders.

Bharat Financial and IndusInd Bank gained 0.4 percent each ahead of IndusInd’s board meeting on Saturday.

Nifty Midcap was up 0.3 percent as about three shares advanced for every share falling on the NSE.

BHEL, EON Electric, LEEL Electricals, Indian Toners, Aimco Pesticides, Indo Count, Teamlease, NBCC, Adani Transmission, Cyient, MCX (ahead of Q2 earnings later today), Manappuram Finance and DHFL gained 1-10 percent.

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.

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Indian Rupee opens flat at 65.13 per Dollar

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Expected the USD-INR pair to be rangebound within a trading range of 65-65.30.


The Indian Rupee opened flat at 65.13 per Dollar on Thursday versus previous close 65.14. Get Free Equity Tips on mobile and intraday recommendations Call on 9644405056.

The US FOMC minutes look to confirm a December rate hike while terming below target inflation as transitory. The Dollar remains rangebound against majors.

Expected the USD-INR pair to be rangebound within a trading range of 65-65.30 today.

The bond market is subdued ahead of the release of CPI inflation data today evening. The continued supply of OMO sale today and scheduled auction tomorrow should deter building of positions in the G-Sec market.

Expected the 10-year benchmark bond yield to trade in a range of 6.72-6.76 percent for the day.

The Dollar is on the back foot against a basket of currencies recovering a bit after sinking to a 14-day low as investors took note of Fed members’ concern over the inflation outlook stateside.


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