Nifty Ends Almost Flat, Rupee Gains After RBI Flags Inflation Concerns
Sharmila Joshi of SharmilaJoshi.com sees Indian markets to consolidate from hereon as investors gear up for the fourth-quarter earnings starting next week.
“Markets have had a good run-up so far so it’s very likely that we will see some consolidation in Nifty. RBI policy was also on the expected lines and now markets will focus on quarterly results, which will decide the next big move,” Sharmila Joshi of SharmilaJoshi.com.
“Reliance Industries has rallied in the past few sessions and we see further momentum in the stock. Going ahead, earnings will dominate market movement. We expect fourth-quarter earnings to reflect more demonetization pain compared to the third-quarter,” she said.
Good news for REITs and InvITs.
— BloombergQuint (@BloombergQuint) April 6, 2017
Read | https://t.co/AT3iIoQhqw
FB LIVE | https://t.co/IaP85wiguk pic.twitter.com/KipXAMlNzo
RBI maintains neutral stance on monetary policy.
— BloombergQuint (@BloombergQuint) April 6, 2017
FB LIVE | https://t.co/8pRGDg4v06 pic.twitter.com/hF7un7MtXs
Shares of power plant equipment and accessories maker surged as much as 8.4 percent to Rs 12.95, highest since February 9.
Sunil Hitech won four road projects worth Rs 935.9 crore in Maharashtra, the company said in a regulatory filing.
Volume at 3.9 times its 30-day average volume; stock price has crossed above its 100-day moving average: Bloomberg data.
#BQSpotted by @OnlyNickey | Ashapura Minechem rises the most since September 2015.https://t.co/LDyTRKnsPD pic.twitter.com/bJTlhfu7pa
— BloombergQuint (@BloombergQuint) April 6, 2017
#BQSpotted by @soumeet_sarkar | Mastek jumps most in 6 months.https://t.co/bFKMsqaiy8 pic.twitter.com/eZIQRfhmq0
— BloombergQuint (@BloombergQuint) April 6, 2017
Use of domestic steel may be mandatory for government infrastructure projects.https://t.co/MAv7d6a3YW pic.twitter.com/npmNgIELNu
— BloombergQuint (@BloombergQuint) April 6, 2017
- Ashok Leyland has 21 lakh shares change hands in a block
- Rural Electrification has 10 lakh shares change hands in a block
Buyers and sellers were not immediately known
For the complete story, click HERE
Also Read: The RBI’s Problem Of Plenty
Shares of Jindal Steel and Power gained as much as 4.8 percent to Rs 130.50, highest since May 26, 2015.
JSPL clocked production and sales of over 4.8 million tonne in financial year 2016-17. Fourth-quarter sales rose 11.2 percent to 1.34 million tonnes.
Stock has jumped 84 percent year-to-date compared with a 12.5 percent gain for the benchmark Sensex index.
- Bajaj Auto (+1.4%): Raised to overweight from underweight at Morgan Stanley
- Hero MotoCorp (-0.32%): Cut to underweight from equal-weight at Morgan Stanley
- Just Dial (-2.6%): Cut to reduce from hold at HSBC
- National Aluminium (-0.53%): Cut to reduce from hold at Emkay
- TVS Motor (+0.01%): Raised to equal-weight from underweight at Morgan Stanley
- Jindal Steel & Power says output, sales hit record highs in FY17
- Phoenix Mills & Canada Pension Plan Investment Board ink partnership
- Force Motors: March local sales at 4,129 vehicles, exports at 233 units
- Lupin: Australia court awarded Rs 120 crore damages to Bayer units
- Mahindra & Mahindra introduces small tractor starting Rs 3.9 lakh
- Reliance Defence board to discuss rights issue of up to Rs 1,200 crore on April 11
For a complete list of stocks to watch, click HERE
- RBI rate decision: Monetary-policy committee meeting headed by Governor Urjit Patel will leave repurchase rate unchanged, according to a poll of economists by BloombergQuint
- Failed winter rains, looming El Nino challenge India’s factories
- India’s cotton production seen increasing, USDA FAS says
- Sugar jumps as India to allow imports
- India is set to install record wind capacity for a third consecutive year, Suzlon Energy says
- Russia muscles in on Ukraine with 1st Sunoil shipment to India
- Global funds buy Rs 340 crore of local stocks; domestic funds sell Rs 194 crore on Wednesday
ADP says companies in U.S. added 263,000 employees in March, reports @ShoChandra.https://t.co/fpeiceliFS pic.twitter.com/AyMGXHJB3w
— BloombergQuint (@BloombergQuint) April 6, 2017
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