Friday, 31 January 2014
Indian Rupee Update
Indian rupee gained 17 paise to 62.39 against the dollar in early trade on Friday. Yesterday the rupee closed at 62.56 to the dollar.
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Indian ADRs Reports
Indian ADRs ended higher on Thursday.
In the IT space, Infosys added 1.56 percent at USD 59.26
Wipro jumped 1.4 percent at USD 13.06.
In the banking space, ICICI Bank rose 1.69 percent at USD 32.54
HDFC Bank gained 1.45 percent at USD 31.47.
In the other sectors, Tata Motors advanced 0.93 percent at USD 28.36
Dr Reddys Laboratories was down 0.29 percent at USD 41.72.
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Pre Market Stock Calls By MarketMagnify
BUY FINTECH (LCP- 260.4) ABOVE 262 TG-266-271
BUY PNB (LCP 517.6) ABOVE 519 TG-523-529
SELL AUROBINDO PHARMA (LCP 455.55) BELOW 454 TG-451-446
BUY RELIANCE CAPITAL (LCP-318.2) ABOVE 320 TG-324-329
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MM World Market Reports
MM WORLD MARKET UPDATE
HANG SENG -106
NIKKEI 21
SHANGHAI -16.8
DOWJONES 109.82
NASDAQ 71.7
SGX NIFTY 9
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Today Bank Nifty Market Trends by MarketMagnify
MM BANK NIFTY TREND – BEARISH
BANK NIFTY FUTURE LEVELS
SUPP 1: 10140
SUPP 2: 9830
RES 1: 10520
RES 2: 10830
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Today Nifty Market Trends by MarketMagnify
MM GOOD MORNING
NIFTY TREND: BEARISH
NIFTY SPOT LEVELS
SUPP 1: 6030
SUPP 2: 5970
RES 1: 6165
RES 2: 6245
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Thursday, 30 January 2014
The S&P BSE Sensex Cracks In Stock Market
The S&P BSE Sensex plunged as much as 232 points in trade on Thursday tracking selloff in other Asian markets, after US Federal Reserve announced plans to scale back its bond purchases by another $10 billion to $65 billion a month.
The US Central Bank also signalled that it is likely to keep reducing its purchases in the coming months, citing a pickup in economic activity and improvement in the labor market.
Despite heavy sell-off most analysts are of the view that Indian markets might go through bouts of volatility in the immediate short term but long-term investors can start accumulating quality names.
"This selloff will prove to be a buying opportunity in India. Considering the fact that we have a central bank of the world's biggest economy that is tapering because they are confident about macroeconomic growth which is bullish for EMs.
For stock market news and services visit our website at http://www.marketmagnify.com/stock-cash-tips.php and call us on 0731-6619100
The US Central Bank also signalled that it is likely to keep reducing its purchases in the coming months, citing a pickup in economic activity and improvement in the labor market.
"This selloff will prove to be a buying opportunity in India. Considering the fact that we have a central bank of the world's biggest economy that is tapering because they are confident about macroeconomic growth which is bullish for EMs.
For stock market news and services visit our website at http://www.marketmagnify.com/stock-cash-tips.php and call us on 0731-6619100
Indian Rupee Update
The Indian rupee slipped in the early trade. It has opened lower by 49 paise at 62.90 per dollar versus 62.41 Wednesday
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Asian Market Commentary
Asian stocks suffered heavy losses on Thursday
China’s Shanghai Composite shed 0.36 percent or 7.41 points at 2,042.50
Hong Kong’s Hang Seng declined 1.46 percent or 324.16 points at 21,817.45.
Japan’s Nikkei tumbled 3.18 percent or 488.68 points at 14,895.23
Singapore’s Straits Times fell 1.11 percent or 33.81 points at 3,014.12.
Seoul Composite and Taiwan Weighted shut today.
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Pre Market Stock Calls By MarketMagnify
SELL CENTURY TEXTILE(LCP- 288.8) BELOW 286 TG-282-278
SELL RELIANCE INFRA (LCP 364.4) BELOW 362 TG-358-353
SELL AUROBINDO PHARMA (LCP 438.8) BELOW 437 TG-434-430
SELL WHEELS (LCP-810.8) BELOW 806 TG-800-791
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MM World Market Reports
MM WORLD MARKET UPDATE
HANG SENG -501
NIKKEI -323
SHANGHAI -7
DOWJONES -189.77
NASDAQ -46.53
SGX NIFTY -88
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0731-6619100
Today Bank Nifty Market Trends by MarketMagnify
MM BANK NIFTY TREND – BEARISH
BANK NIFTY FUTURE LEVELS
SUPP 1: 10140
SUPP 2: 9830
RES 1: 10520
RES 2: 10830
WWW.MARKETMAGNIFY.COM
0731-6619100
Today Nifty Market Trends by MarketMagnify
MM GOOD MORNING
NIFTY TREND: BEARISH
NIFTY SPOT LEVELS
SUPP 1: 6065
SUPP 2: 5970
RES 1: 6165
RES 2: 6245
WWW.MARKETMAGNIFY.COM
0731-6619100
Wednesday, 29 January 2014
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