Browse Tag: BSE TIPS

Wall Street Rebounds but posts Worst week in Two Years

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The Dow Jones Industrial Average rose 330.44 points, or 1.38 percent, to 24,190.9, the S&P 500 gained 38.55 points, or 1.49 percent, to 2,619.55, and the Nasdaq Composite added 97.33 points, or 1.44 percent, to 6,874.49.

US stocks ended a wild week with a burst of buying, pushing the S&P 500 up 1.5 percent on Friday, but still recorded their worst week in two years, and investors braced for more volatile trading days ahead.

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The sharp falls of the week confirmed the market was in a correction, down more than 10 percent from a Jan. 26 record high, and throwing the nearly nine-year bull market off course. The newly volatile market was shaken in part by rising bond yields, which led stock investors to rethink their positions after months of steady gains.

The S&P 500 ended the week nearly 9 percent below the all-time high set just two weeks ago.

On Friday alone, the S&P 500 swung from gains of up to 2.2 percent to declines of 1.9 percent, echoing the big swings of the past week. The Dow moved in a range of more than 1,000 points, a more modest change than on Monday when the Dow fell as much as nearly 1,600 points.

The Dow Jones Industrial Average rose 330.44 points, or 1.38 percent, to 24,190.9, the S&P 500 gained 38.55 points, or 1.49 percent, to 2,619.55, and the Nasdaq Composite added 97.33 points, or 1.44 percent, to 6,874.49.

The technology was the best-performing group on Friday, with Microsoft Corp, Alphabet Inc and Facebook Inc giving the biggest individual boosts to the S&P 500. The energy was the lone major S&P sector to end negative as oil prices tumbled.

The benchmark S&P 500 fell 5.2 percent for the week, its biggest weekly percentage drop since January 2016. For the week, the sector that got hammered the most was energy.

Ninety-six S&P 500 stocks are down 20 percent or more from their own one-year highs.

The sharp selloff in recent days was kicked off by concerns over rising inflation and bond yields, sparked by last week’s January US jobs report.

Equities for years have looked relatively attractive compared to the low yields offered by bonds, but the rise in Treasury yields has diminished the allure of stocks, especially with stock valuations at historically expensive levels.

The yield on benchmark 10-year US Treasuries hovered around 2.85 percent after touching a four-year peak of 2.885 percent on Monday.

US fund investors sucked USD 23.9 billion out of the stock market in the latest week, marking the largest withdrawals from those funds on record, but bulls were still encouraged by strength in the global economy and solid US corporate earnings.

Also, the percentage of Main Street investors expecting stocks to fall reached a three-month high in the American Association of Individual Investors’ weekly survey.

During Friday’s session, the S&P 500 briefly broke below its 200-day moving average, a closely watched technical level, before rising.

The S&P 500 lost USD 2.49 trillion in market value from Jan. 26 through Thursday, according to S&P Dow Jones Indices.

Volatility remained high compared to recent months. The market’s main gauge of volatility, the CBOE Volatility Index, fell 4.4 to 29.06 on Friday but was still nearly three times the average level of the past year.

In the latest day of strong trading volume, about 12 billion shares changed hands in US exchanges on Friday, well above the 8.5 billion daily average over the last 20 sessions. It was the first time weekly volume eclipsed 50 billion since August 2015.

Advancing issues outnumbered declining ones on the NYSE by a 1.43-to-1 ratio; on Nasdaq, a 1.36-to-1 ratio favored advancers.

The S&P 500 posted no new 52-week highs and 47 new lows; the Nasdaq Composite recorded 17 new highs and 208 new lows.


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Sensex rebounds 200 pts, Nifty above 10,500; SBI falls 4%, BOB up 4%

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NALCO, Oil India, Bata India, Sun TV Network, Marico and Amara Raja Batteries rallied 3-7 percent.

L&T shares gained more than 1 percent in the morning as its subsidiary L&T Hydrocarbon Engineering has signed a major field development EPC contract with Al Dhafra Petroleum Operations Company Limited, Abu Dhabi, UAE, with a value in excess of Rs 2,200 crore.

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Al Dhafra Petroleum is a joint venture between ADNOC and Korea National Oil Corporation (KNOC) and GS Energy, which is represented by Korean Abu Dhabi Oil Consortium (KADOC).

The scope of the contract includes engineering, procurement, construction & commissioning of flow lines, gathering facilities & pipelines to transfer crude oil & gas from Haliba fields to a processing facility at Asab and installation of 132 kV and 33 kV overhead electrical transmission lines to supply power.

Leading EPC player Reliance Infrastructure has bagged a Rs 567 crore order from the state-run power major National Thermal Power Corporation (NTPC) to build a flue gas Desulphurisation (FGD) plant at its 1500 MW (3 x 500 MW) power plant at Jhajjar in Haryana.

The scope of the work includes design, engineering, manufacture, erection and civil work, as well as testing and commissioning of the FGD system.

The Anil Ambani-run company’s EPC division had earlier emerged as L1 bidder amidst competition against leading EPC players including BHEL, L&T, and Mitsubishi Hitachi Power system.

The overall schedule for the project is 20 months from the date of the letter and will of approval being delivered for the first unit, with three months additional time each for the two subsequent units, the company said in a statement today.

Shares of Capacity Infraprojects gained 4 percent in the early trade on orders worth Rs 247.46 crore.

The orders include Tower -2 of a project at Hindustan Mills, Prabhadevi, MMR for client Twenty Five South Realty, The Wadhwa Group, worth Rs 156.46 crore.

The Tower – 1 of this project is already under execution by the company.

The second order is from Kalpataru Group of Rs 90.80 crore. This is the second order received from Kalpataru Group.

9:15 am Market Check: Benchmark indices, as well as broader markets, opened the truncated week sharply higher on Monday, driven by bargain hunting after sell-off last week.

The 30-share BSE Sensex was up 212.02 points at 34,217.78 and the 50-share NSE Nifty gained 69.10 points at 10,524.10.

About five shares advanced for every share falling on the BSE.

The nifty Midcap index was up over a percent.

NALCO, Oil India, Bata India, Sun TV Network, Marico and Amara Raja Batteries rallied 3-7 percent.

Manappuram Finance, Ashok Leyland, Cadila Healthcare and Capacity Infraprojects gained 2-5 percent. Suzlon Energy fell 3 percent.


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BUDGET 2018-19 | Deduction for senior citizens increased to Rs 50,000 for medical insurance

UNION BUDGET 2018-2019

>>FM Arun Jaitley: To propose next financial year health, education cess at 4%
>> FM Arun Jaitley: Increase in customs duty on mobile phones to 20% from 15%
>> FM Arun Jaitley: Propose to cut import duty on raw cashews to 2.5% from 5%
>> FM Arun Jaitley: Govt levies long-term capital gains tax of 10% for over Rs 1 lakh investments
>> FM Arun Jaitley: Deduction for senior citizens increased to Rs 50,000 for medical insurance


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BUDGET 2018-19 | FM Arun Jaitley: Aim to lower central govt debt-to-GDP ratio to 40%

UNION BUDGET 2018-2019

>> FM Arun Jaitley: No change in personal income tax structure.Standard deduction of Rs 40,000 for salaried taxpayers

>> FM Arun Jaitley: Corporate tax for companies up to Rs 250 cr revenue cut to 25%

>> FM Arun Jaitley: 100% tax deduction to companies with revenue of Rs 100 cr regard as farmer producers

>> FM Arun Jaitley: Aim to lower central govt debt-to-GDP ratio to 40%


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BUDGET 2018-19 | Divestment target Rs 80,000 crore for FY19

UNION BUDGET 2018-2019

>>FM Arun Jaitley: 85.51 lakh new taxpayers have filed returns for FY17 

>> FM Arun Jaitley: Total revised estimate of expenditure at Rs 21.57 lakh cr for current FY 

>>FM Arun Jaitley: FY18 revised estimate for fiscal deficit at 3.5% of GDP; FY19 fiscal deficit target at 3.3% of GDP

>>FM Arun Jaitley: PSU bank recap will allow banks to give additional lending of Rs 5 lakh crore

>>FM Arun Jaitley: Salary of President raised to Rs 5 lakh, Vice President to Rs 4 lakh, governor to Rs 3.5 lakh

>>FM Arun Jaitley: National Insurance, United India Insurance & Oriental Insurance to be merged, listed

>FM Arun Jaitley: Govt will evolve a scheme to assign a Unique ID for companies

>> FM Arun Jaitley: Divestment target Rs 80,000 crore for FY19


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BUDGET 2018- 2019 | FM Arun Jaitley: SEBI to mull asking large companies to meet 25% debt from market

UNION BUDGET  2018-2019

FM Arun Jaitley: Will take steps to curb illegitimate transactions funded by cryptocurrency 

> FM Arun Jaitley: Propose extra-budgetary expenditure of Rs 5.97 lakh cr on infrastructure 

> FM Arun Jaitley: Exports are seen growing at 15 percent 2017-18 

FM Arun Jaitley: To allocation to ‘Digital India’ doubled to Rs 373 Cr 

>> FM Arun Jaitley: SEBI to mull asking large companies to meet 25% debt from market 


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UNION BUDGET 2018-19 LIVE UPDATES by Ripples Advisory

UNION BUDGET 2018

FM Arun Jaitley: Airport capacity to be raised 5 times to handle 1 bn passengers 

> FM Arun Jaitley: UDAN Scheme shall connect 56 unserved airports, 37 unserved helipads 

> FM Arun Jaitley: To allocate Rs 9,000 cr for 90 km of double-line tracks for Mumbai 

>> FM Arun Jaitley: To allocate Rs 17,000 cr for Bengaluru Metro Network, Rs 11,000 cr for Mumbai Rail network


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UNION BUDGET 2018-19 LIVE UPDATES by Ripples Advisory

UNION BUDGET2017-18

> FM Arun Jaitley: To allocate Rs 11,000 cr for Mumbai rail network 

> FM Arun Jaitley: Railway capex for FY19 at Rs 1.48 lakh cr 
>> FM Arun Jaitley: Projects worth Rs 2,350 cr under smart city mission completed 

> FM Arun Jaitley: Tourist facilities to be upgraded at 210 important monuments 

> FM Arun Jaitley: MSMEs sector gets Rs 3,794 crore in the form of capital support and interest subsidy 

>> FM Arun Jaitley: Out of 100 smart cities 99 cities have been selected with an outlay Rs 2.04 lakh crore


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UNION BUDGET 2018-19 LIVE UPDATES by Ripples Advisory

UNION BUDGET2017-18

>>FM Arun Jaitley: To launch Operation Green for which a sum of Rs 500 crore will be allocated.

> FM Arun Jaitley: Food processing sector is growing an average 8% per annum. Allocation in this sector is being doubled from 750 cr last year to 1400 crore in 2018-19


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Indian ADRs: Dr. Reddy’s Lab slips 3%; ICICI Bank, Wipro up

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Indian ADRs ended mixed on Wednesday. Tata Motors was down 0.32 percent and ICICI Bank gained 1.01 percent.

Indian ADRs ended mixed on Wednesday. In the IT space, Infosys shed 1.32 percent at USD 18.01 and Wipro was up 0.18 percent at USD 5.49.

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In the banking space, ICICI Bank gained 1.01 percent at USD 10.98 and HDFC Bank rose 1.38 percent at USD 108.59.

In the other sectors, Tata Motors was down 0.32 percent at USD 30.96 and Dr. Reddy’s Laboratories declined 2.98 percent at USD 34.46.


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