Browse Tag: BSE TIPS

Indian ADRs: HDFC Bank, Wipro, ICICI Bank down

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Indian ADRs ended mostly lower on Monday. ICICI Bank was down 0.70 percent and Infosys shed 0.61 percent.


Indian ADRs ended mostly lower on Monday. In the IT space, Infosys shed 0.61 percent at USD 14.62 and Wipro fell 1.62 percent to USD 5.46.

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In the banking space, ICICI Bank was down 0.70 percent at USD 8.51 and HDFC Bank declined 2.16 percent at USD 96.53.

In the other sectors, Tata Motors gained 1.49 percent at 33.28 and Dr. Reddy’s Laboratories was up 1.61 percent at USD 36.62.


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Nifty breaks 10,200, Sensex falls 100 pts; MAS Financial zooms 44%

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Axis Bank was the biggest loser after a sharp rise in slippages in Q2. The stock was down 6.5 percent.


10:00 am Listing: MAS Financial Services share price started off trade with a whopping premium of 44 percent on the National Stock Exchange.

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The stock has opened at Rs 660 against its issue price of Rs 459.

9:55 am Earnings Estimates: UltraTech Cement, which has Pan India presence, is expected to show a 38 percent decline year-on-year in standalone profit at Rs 370 crore but revenue from operations may grow 4 percent to Rs 6,380 crore.

According to an average of estimates of analysts, operating profit during the quarter is seen falling 2 percent to Rs 1,135 crore and margin may shrink around 100 basis points to 17.8 percent compared with same quarter last fiscal.

UltraTech numbers are not totally comparable due to the acquisition of Jaiprakash Group’s cement assets.

Analysts expect sales volumes growth of 11 percent at 12.4 million tonnes due to inorganic expansion, but Ultratech volumes are likely to be flattish.

9:50 am a Pre-opening trade: MAS Financial Services share price settled at Rs 660 in pre-opening trade on the National Stock Exchange, higher by 43.8 percent over its issue price of Rs 459.


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Indian ADRs: HDFC Bank, Wipro, ICICI Bank down

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Indian ADRs ended mostly lower on Monday. ICICI Bank was down 0.70 percent and Infosys shed 0.61 percent.


Indian ADRs ended mostly lower on Monday. In the IT space, Infosys shed 0.61 percent at USD 14.62 and Wipro fell 1.62 percent to USD 5.46.

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In the banking space, ICICI Bank was down 0.70 percent at USD 8.51 and HDFC Bank declined 2.16 percent at USD 96.53.

In the other sectors, Tata Motors gained 1.49 percent at 33.28 and Dr. Reddy’s Laboratories was up 1.61 percent at USD 36.62.


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Market Live: Sensex slips on profit booking but Nifty still holds 10,200 at open

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Persistent Systems, Federal Bank, Delta Corp, Radico Khaitan, DHFL, Prime Focus, Aries Agro, Jaiprakash Power and Jaiprakash Associates gained up to 20 percent.


Equity benchmarks opened mildly lower on profit booking Tuesday after the rally in three consecutive sessions.

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The 30-share BSE Sensex was down 33.86 points at 32,599.78 and the 50-share NSE Nifty fell 15.10 points to 10,215.80.

Axis Bank, Reliance Industries, GAIL, Bajaj Auto, Yes Bank, IOC and Bharti Airtel were early gainers while Wipro, Bajaj Finance, and BPCL were losers.

DCB Bank, JM Financial, and Colgate were down 1.5-2.5 percent.

Persistent Systems, Federal Bank, Delta Corp, Radico Khaitan, DHFL, Prime Focus, Aries Agro, Jaiprakash Power and Jaiprakash Associates gained up to 20 percent.


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Asian shares shrug off Wall Street gloom, dollar steadies

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Asian shares gained on Tuesday, shrugging off modest losses on Wall Street while expectations of a US interest rate increase this year continued to underpin the Dollar.

MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.4 percent in early trading.

Korean shares rallied 1.4 percent on their first day of trading this month, on expectations continued tensions with Pyongyang would ease. Seoul markets were closed last week and on Monday for public holidays.

Russian Foreign Minister Sergei Lavrov told US Secretary of State Rex Tillerson in a phone call on Monday that an escalation of tension on the Korean peninsula is unacceptable.

Russia and China both called for restraint on North Korea on Monday after US President Donald Trump warned over the weekend that “only one thing will work” in dealing with Pyongyang, hinting that military action was on his mind.

Japan’s Nikkei stock index was down 0.1 percent in early trade, as markets reopened after a public holiday on Monday.

The Dollar was steady on the day against its Japanese counterpart at 112.67 Yen. On Friday, it had risen as high as 113.44 Yen, its highest level since July 14.

“The Dollar has re-set to a slightly lower range from last week,” said Mitsuo Imaizumi, Tokyo-based chief foreign-exchange strategist at Daiwa Securities.

“Investors remain focused on whether or not there will be one more rate increase this year,” he said, with interest rate futures now pricing in nearly a 90 percent chance that the U.S. Federal Reserve will hike again in December.

The Dollar index, which tracks the greenback against a basket of six major rivals, added 0.1 percent to 93.734, moving back towards Friday’s peak of 94.267. That was its loftiest level since July 20, after data showed a stronger-than-forecast increase in US average hourly earnings in September.

The Euro was steady at USD 1.1740 after it got a lift on Monday from data showing German industrial output notched its biggest monthly increase in more than six years in August.

Also helping the euro were comments from a European Central Bank Executive Board member, who called for the central bank to reduce its asset purchases next year. The ECB is due to decide on Oct. 26 whether to continue its bond-buying in 2018.

Crude oil prices edged slightly higher, underpinned by OPEC comments signaling the possibility of continued action to restore market balance in the long-term. But gains were seen as limited as oil production platforms in the Gulf of Mexico started returning to service after the latest U.S. hurricane forced the shutdown of more than 90 percent of crude output in the area.

Brent crude inched up 2 cents to USD 55.81 a barrel. US crude added 7 cents to USD 49.65.


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Indian Stock Market Live: Nifty opens above 10,000, Sensex rises 100 pts; pharma, metals shine

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Nifty Midcap was up 0.4 percent. SPARC, Biocon, NCC, NBCC, TVS Electronics, Graphite India, HEG, Goa Carbon and Bombay Dyeing rallied up to 15 percent.

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9:25 am IPO subscription: The initial share sale offer of MAS Financial Services was oversubscribed 4.81 times on the second day of subscription on Monday. The issue will close today.

The IPO, to raise Rs 460 crore, received bids for 3,42,91,872 shares as compared to the total issue size of 71,24,910 shares, as per NSE data.

The category reserved for qualified institutional buyers (QIBs) was oversubscribed 5.74 times, non-institutional investors 47 percent and retail investors 6.29 times.

9:20 am Buzzing: Shares of Lupin rose 2 percent in early trade on the back of USFDA approval for Nadolol tablets.

The company has received final approval for Nadolol Tablets USP 20 mg, 40 mg and 80 mg from the United States Food and Drug Administration (USFDA).

The Nadolol tablets is a generic version of US WorldMeds, LLC Corgard Tablets, 20 mg, 40 mg and 80 mg.

The tablets are indicated for the management of patients with angina pectoris and for the treatment of hypertension.

9:15 am Market Check: Equity benchmarks started off trade on a positive note Tuesday despite mixed global cues, backed by healthcare, metals and select banks stocks.

The 30-share BSE Sensex was up 82.94 points at 31,929.83 and the 50-share NSE Nifty gained 23.75 points at 10,012.50.

About 777 shares advanced against 214 declining shares on the BSE.

Lupin, L&T, Indiabulls Housing, IndusInd Bank, M&M, Aurobindo Pharma, Cipla and Tata Steel were early gainers while HDFC, Kotak Mahindra Bank, and Axis Bank were under pressure.

Nifty Midcap was up 0.4 percent. SPARC, Biocon, NCC, NBCC, TVS Electronics, Graphite India, HEG, Goa Carbon and Bombay Dyeing rallied up to 15 percent.

Asian markets were mixed, with the Japan’s Nikkei 225 rising 0.43 percent after markets reopened for trade following a long weekend. South Korea’s Kospi surged 1.85 percent while China’s Shanghai was down 0.3 percent.


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Wall Street extends run of record highs; services data upbeat

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The Dow Jones Industrial Average rose 19.97 points, or 0.09 percent, to end at 22,661.64, the S&P 500 gained 3.16 points, or 0.12 percent, to 2,537.74 and the Nasdaq Composite added 2.91 points, or 0.04 percent, to 6,534.63.

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US stocks edged up to extend their run of record closing highs on Wednesday as data on the services sector added to signs of strength in the economy and prospects for earnings.

It was the third straight session where all three major indexes hit record closing highs, though the small-cap Russell 2000 broke its string of eight all-time high finishes, ending down 0.3 percent.

Shares of Netflix helped lift the S&P 500, rising 2.9 percent, after UBS raised its price target on the company. Shares of Amazon, up 0.9 percent, gave the index its biggest boost.

Market gains were limited as a decline in oil prices weighed on energy shares, and the S&P information technology index, up about 26 percent this year, posted its first drop in seven sessions. The S&P energy index was down 0.1 percent and the technology index was down 0.2 percent.

The vast US services sector overcame hurricane-related snags to expand at its fastest pace in 12 years.

It’s been an overall quiet market, and I think it’s waiting for the earnings season and maybe some bigger economic data.

We’ve seen economic data, especially manufacturing data both here in the United States as well as globally, better, so it should be a better earnings season.

Analysts expect third-quarters earnings of S&P 500 companies rose 5.5 percent in the third quarter from a year earlier, according to Thomson Reuters data. That would be down from double-digit growth in the first two quarters, but many strategists are optimistic results will be better than expected.

The Dow Jones Industrial Average rose 19.97 points, or 0.09 percent, to end at 22,661.64, the S&P 500 gained 3.16 points, or 0.12 percent, to 2,537.74 and the Nasdaq Composite added 2.91 points, or 0.04 percent, to 6,534.63.

Stocks have been hitting record highs on stronger economic data and President Donald Trump’s tax overhaul plan. On Monday, data showed a measure of U.S. manufacturing activity surged to a near 13-1/2-year high in September.

The rest of the week is loaded with economic data, culminating in Friday’s nonfarm payrolls report for September.

Allaying fears of fresh turmoil in the Trump administration, U.S. Secretary of State Rex Tillerson denied reports he considered resigning.

Investors had worried that another administration departure could weigh on Trump’s efforts to push through the tax reform program, a key 2016 campaign promise.

Health and Human Services Secretary Tom Price resigned on Sept. 29 following an uproar over his use of costly private charter planes for government business.

Shares of Mylan surged 16.2 percent and was the biggest percentage gainer in the S&P 500 after U.S. regulators approved its copycat version of Teva’s blockbuster multiple sclerosis drugs. Teva Pharmaceutical slumped 14.6 percent. The S&P healthcare index was up 0.5 percent.

Wells Fargo was down 1.1 percent after the bank said it would refund some mortgage rate lock extension fees.

Declining issues outnumbered advancing ones on the NYSE by a 1.05-to-1 ratio; on Nasdaq, a 1.01-to-1 ratio favored decliners.

About 5.8 billion shares changed hands on US exchanges. That compares with the 6.3 billion daily average for the past 20 trading days, according to Ripples Advisory Private Limited, Indore.

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Free Market views: Why Dollar Drops, Stocks Mixed as Fed Chief Pick Looms

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Russia’s Vladimir Putin and OPEC Secretary General Mohammad Barkindo speak today at an energy forum in Moscow.

 

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The Dollar fell and global stocks were mixed as investors digested the shortlist of candidates said to be in the running for the leadership of the Federal Reserve. U.S. Treasuries advanced, followed by most core government bonds.

 

In Spain, stocks resumed a decline after King Felipe VI criticized Catalan separatists for “unacceptable disloyalty.” Catalan President Carles Puigdemont has promised a formal announcement to regional lawmakers of the referendum results, triggering a 48-hour countdown to a unilateral declaration of independence. The nation’s bond yields rose, in addition to those in neighboring Portugal.

 

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The Dollar Index and 10-year Treasury yields both retreated from recent highs as news emerged that President Trump has been presented with a shortlist of Fed-chair candidates with a range of views on policy. Among them, ex-board member Kevin Warsh has criticized the central bank for trying to do too much with monetary policy. Current Governor Jerome Powell has voted in sync with Chair Janet Yellen, whose term is up in February.

 

“Markets rightly or wrongly came to the view late last week that Warsh was the front-runner, and viewed him rightly or wrongly as having more hawkish proclivities than Janet Yellen,” said Ray Attrill, global co-head of foreign-exchange strategy at National Australia Bank Ltd. in Sydney. With news of Powell’s chances potentially rising and of headwinds to tax reform, “that’s seen the Dollar giving back a little of the gains.”

 


Meanwhile, Hong Kong equities added to yesterday’s surgeon optimism about monetary loosening in China. Japanese stocks were little changed, and Australia’s declined. Crude fell to a two-week low as the traders awaited U.S. inventory data. Get free equity tips on mobile from here!

 

Among the key events coming this week:

* Russia’s Vladimir Putin and OPEC Secretary General Mohammad Barkindo speak today at an energy forum in Moscow.


* Today’s EIA data will probably show that gasoline stockpiles only increased by 1 million barrels last week.


* September’s ADP jobs number will most certainly suffer a major negative impact from Hurricanes Harvey and Irma. Consensus sees 135,000 new positions, but there’s potential for a negative surprise.


* Also, this week are data on U.S. trade, durable goods, and Friday’s September nonfarm payrolls report.


* China is due to report monthly foreign-exchange reserves Thursday.


* Minutes of the last ECB meeting are the European economic highlight this week.

 


Here are the main moves in markets:


Stocks


1. The Stoxx Europe 600 Index declined 0.1 percent as of 8:44 a.m. London time.


2. The MSCI All-Country World Index rose 0.1 percent.


3. The U.K.’s FTSE 100 Index advanced 0.1 percent to the highest in eight weeks.


4. Germany’s DAX Index rose 0.2 percent.


5. The MSCI Emerging Market Index jumped 0.5 percent to the highest in almost two weeks.


6. Futures on the S&P 500 Index decreased 0.1 percent to 2,531.25.


Currencies

 

1. The Dollar Spot Index dipped 0.2 percent.


2. The Euro climbed 0.1 percent to $1.176.


3. The British Pound advanced 0.1 percent to $1.3255.


4. The Japanese Yen gained 0.3 percent to 112.55 per Dollar.

 

Bonds


1. The yield on 10-year Treasuries fell one basis point to 2.31 percent.


2.  Germany’s 10-year yield dipped two basis points to 0.44 percent, the lowest in more than a week.


3. Britain’s 10-year yield decreased one basis point to 1.342 percent.

 

Commodities

 

1. West Texas Intermediate crude dipped 0.3 percent to $50.26 a barrel, the lowest in more than two weeks.


2. Gold increased 0.3 percent to $1,276.01 an ounce.


3. Copper fell 0.2 percent to $2.96 a Pound.

 

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Know Why Asia mixed in early trade ahead of Reserve Bank of India policy decision | Indian Stock Market Updates

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In Japan, the Nikkei 225 was up 0.23 percent at 20,662.48 in early trade and the Topix index advanced 0.1 percent.


Asia is set for a mixed trading day on Wednesday, even after US equities closed higher overnight.

In Japan, the Nikkei 225 was up 0.23 percent at 20,662.48 in early trade and the Topix index advanced 0.1 percent. Get Indian stock market daily updates by Ripples Financial Advisory Call on 9644405056.

Fast Retailing shares were up 1.73 percent after reports said same-store sales at its Uniqlo retail outlets in the country rose 6.3 percent on-year in September.

Meanwhile, shares of Japan Display rose 14.48 percent following a report from the Nikkei business daily that the company intends to begin mass production of small OLED panels for smartphones as early as 2019.

Its affiliate, JOLED, has plans to begin printing midsize and large OLED panels for industrial equipment and televisions, Nikkei said.

The Japan business daily also said Japan Display began looking for a partner with which to split its smartphone panel investment that is expected to be more than $1.77 billion.

Australian stocks slipped, with the benchmark ASX 200 down 0.6 percent at 5,667.40 in morning trade. The energy subindex was down 1 percent and the heavily-weighted financial sector fell 0.78 percent.

Major Australian banking stocks were lower, with ANZ shares tumbling 1.51 percent, Westpac off 1.15 percent and the National Australia Bank lower by 1.08 percent.

“The Australian share market faces a test today,” Michael McCarthy, chief market strategist at CMC Markets, said in a morning note. “After underperforming major markets in September, weakness returned in trading yesterday.”

McCarthy added that the “potential for a negative day looms if the top down sellers return.”

Markets in China and South Korea remain closed for public holidays.

Meanwhile, the Reserve Bank of India’s (RBI) monetary policy decision is due on Wednesday. Many analysts expect the central bank to stay on hold, keeping the repo rate at 6 percent.

Though the RBI is set to leave the repo rate unchanged, many economists believe the central bank may downgrade its growth forecast following the implementation of the new goods and services tax in the country.

“There is pressure on the committee to ease rates, given that the repo rate is at 6 percent versus below-4 percent CPI inflation,” said Radhika Rao, an economist at Singapore-based DBS Bank, in a note. “The RBI is, however, unlikely to react this week as, besides a gradual rise in inflation, significant changes in the macro backdrop also need to be assessed further.”

The Indian Rupee will be in focus. The currency last fetched 65.48 per Dollar.

Elsewhere in the currency market, the dollar index, which measures the greenback against a basket of currencies, remained at levels similar to the previous session. At 8:15 a.m. HK/SIN, the index stood at 93.552.

Meanwhile, the Japanese yen traded at 112.72 per dollar, strengthening from levels near 113.1 in the previous session.

“There wasn’t much consistency in the performance of the Dollar and while Dollar/Yen failed to end the day above 113, it also did not experience significant losses,” Kathy Lien, managing director of foreign exchange strategy for BK Asset Management, said in an early morning note, referring to overnight moves in the foreign exchange market.

The Dollar’s quiet strength suggests that investors are optimistic and it’s hard not to be with stocks hitting fresh record highs Monday and Tuesday.

Elsewhere, the Australian Dollar climbed from levels near $0.78 in the last session to trade at $0.7845 on Wednesday morning.

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4th October 2017- OPENING BELL- RBI Not Been Able To Affix Whether To Follow Global Fundamentals Or Government

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RBI to announce its monetary policy today at 2:30 PM. RBI is under dilemma whether to cut its key interest rate keep it unchanged. ECB President Mario Draghi on its monetary policy held on 8th September announced that it may taper its stimulus package in his upcoming Policy to be held on 26th Oct. As per fundamental reason RBI cannot cut its interest rate, but on the other hand Government also created a pressure to lower down the interest rates to stimulate overall economic growth.

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