Sensex, nifty & share market updates for 9 Feb, 2016

The S&P BSE Sensex tumbled as much as 368 pts to slide below its critical support level of 24,000 in today's morning trade, led by losses in TCS, Infosys, ICICI Bank, ITC, and HDFC.While, the Nifty-50 cracked over 100 points to break below its crucial support level of 7300, weighed down by losses in IT, metal, banks, auto, and FMCG stocks.

Shares of IT industry majors like Infosys, Tata Consultancy Services tumbled up to 4 per cent after global IT major Cognizant provided weak earnings guidance.

Japan's 10-year yield strikes zero for the 1st time ever while yen surged to over one-year high against the USD on secure haven buying. Mcx Crude oil traded with mild gains shrugging off the selloff in the world equity markets. The Brent price for April delivery stood at $33.12 per barrel.

Read More : Share tips

Continue reading →

People's Bank of China bolsters Yuan for 5th back to back day

People's Bank of China bolsters Yuan for fifth consecutive day today via its fix, most probably in an attempt to keep it balanced against Dollar and against basket of currencies. Yuan's movement just few weeks back, might have spooked that Chinese government, when Yuan dropped to lowest level in 5 years and spread between offshore and onshore counterpart widened to record More 2%.


Today, People's Bank of China strengthen fix by 0.01% to Yuan 6.5528 per Dollar.


Latest movement in Yuan indicates that People's Bank of China might be micro-managing the currency. In last nine trading days USD/CNY has lurked from 6.587 to 6.552/$.


It has taken other steps to curb excessive shorting of Yuan, especially in Hong Kong market. It is regularly draining monetization from that market via state run banks and requested information on transactions and activity of speculators and to restrict lending.


China's state run media has also taken fire and swords to speculators, even of a well known billionaire investor Mr. George Soros, known as man who broke Bank of England.


People's Bank of China's efforts however had little impact on offshore Yuan for past five days, which is not that volatile anymore but spread is again rising from parity.

Click For Free trial

Continue reading →

Rupee down by 13 paise against USD at 67.96 27 Jan

Indian currency : Today, the INR(rupee) depreciated 13 paise to 67.96 against the US(United States) dollar in early trade ahead of the outcome of US Federal Reserve's two-day policy meet later in the day.

The local currency ended at 67.83 against the greenback on day before yesterday.

The currency market was closed on yesterday on account of celebrations of Republic Day. Experts & traders hopes that given the Fed policy outcome on yesterday and Bank of Japan's policy review on Friday last week, the currency may remain volatile in the extreme short term. RBI intervention will hold the key, they told.

Click For Free Trial

Continue reading →

Mcx crude oil imports from the Persian Gulf nation 19 Jan

 Crude oil imports : With crippling international sanctions against Iran ending, India is going to increase Mcx crude oil imports from the Persian Gulf nation and get oilfield contracts but faces an immediate USD 5.8 billion payout in past oil dues.

Under pressure from US & the other western powers, India had relegated its 2nd largest oil suppliers by cutting down purchases from 21.2 million tons in 2009-10 to 11 million tons in 2013-14. Imports have been of that order in previous three years. Now with the lifting of sanctions, Indian refiners are looking at increasing import volumes. "Iran offers the best terms of oil sales.

Click For Free Trial

Contact No. 9977785000

Continue reading →

Bullion tips : INR(Rupee) trades higher compared to USD

Today's Bullion tips & currency updates : Floating near to its two-year low, the INR(rupee) edged 1 paisa high to 66.28 as compared to the Dollar of US  in early trading, today amid mixed sentiment in Asian currencies & continuing concerns over the depreciating yuan of China.

The reports were suggesting that the US Fed is concerned over falling commodity prices and its impact on the US inflation. This may slow down the flow of Fed rate increase & could be positive for currencies world wide.

Click For Free Trial

Continue reading →

Share tips, Currency updates, INR(Rupee) rises 18 paise against USD

Share tips & currency updates : Cracking a 2-day losing streak, the INR(rupee) went high by 18 paise to 66.75 in early trade on yesterday, as Asian currencies recovered amid reports that the Chinese central bank, PBoC, was intervening to support the tumbling yuan.

The local currency went down by 11 paise to close at a 3-week low of 66.93 against the greenback in the preceding session on persistent dollar requirement from banks and importers.

The Malaysian ringgit rose 1 per-cent to 4.35 against the USD. The Taiwan dollar & the Korean won ahead 0.81 per-cent & 0.72 per-cent, respectively. The Indonesian rupiah rose 0.51 per cent. The Singapore dollar gained .36 per-cent.

Read More : Share tips

Continue reading →

Shares, Apple gives $10.3 million to CEO Tim Cook in 2015

Apple Inc Chief Executive Tim Cook's compensation went high by 11.5 per-cent to USD 10.3 million in 2015, the company told yesterday, a year when its sales grew by 28 per-cent and profits by 35 per-cent but its Shares fell down for the 1st time since year 2008.

Chief Financial Officer's annual compensation increase around 81 per-cent to USD 25.3 million in 2015. In fact, Cook was the lowest-paid of the company's top executives. Angela Ahrendts, the senior vice president for retail & online stores, was the highest paid, with a total pay package of  25.8 million USD Cook's base pay increased about 14.4 per-cent to USD 2 million past year, while non-equity incentive compensation went high nearly 19 per-cent to USD 8 million.

Apple had a good year for the most part under Cook. The iPhone still continued to see record sales. The company strikes a rough patch towards the end of 2015.

Click For FreeTrial

Continue reading →

Rupee went down by 4 paise to 66.86 7 Jan, 2016

Today, the INR(rupee) went down by 4 paise to 66.86 as compared to the US dollar in early trade on Thursday after the Chinese central bank, PBoC, set the yuan midpoint to its lowest & weakest level since March 2011.

The People's Bank of China fixed the official guidance rate 0.5 per-cent weaker than Wednesday's fix of 6.5314, which is its biggest daily fall since 2015's August month. The Chinese yuan fell down by 0.39 per-cent to 6.58 against the greenback.

Click For FreeTrial

Contact No. 9977785000

Continue reading →

Currency Tips : BUY GBP/INR ABOVE 98.65

Currency Tips :

BUY GBP/INR ABOVE 98.65 TGTS 98.80/99.00 SL 98.45

GBP/INR HIT 1ST TGT 98.80 CMP 98.82 BOOK PART PROFIT

Click For FreeTrial

Contact us on 9977785000

Continue reading →

Currency tips & updates for 4 Jan, 2016

 

 Today, the local currency ended at 66.14 against the greenback on last day of trading previous week.

Chinese yuan dropped down to a fresh five-year low against the US dollar in morning trade after China told manufacturing PMI contracted in Dec to 48.2, in comparison to 48.6 in November month. A value below 50 suggests contraction.

Most other Asian broken down in trade after weak Chinese manufacturing data indicated a further weakening in the world's 2nd biggest economy. Japan's Nikkei slumped 2.6 per-cent while the South Korean Kospi lost 1.53 per-cent. Hong Kong's Hang Seng index slided over 500 pts. China's Shanghai Composite traded down by 3.33 per-cent.

 

Click For Free Trial

Continue reading →

India's pharma industry may reach USD 55 billion by 2020

Pharmaceutical industry : Country's pharma sector is about to grow over 3-fold to strike USD 55 billion in the up coming 5 years, even as the exports from the sector might slow down to grow at a CAGR of 7.98 per-cent owing to stricter regulations in market such as the Russia, US and Africa.

Indian pharmaceutical industry is estimated to reach 55 billion USD by 2020 as as compared to the current size of 18 billion USD but the exports may slow down to grow at a CAGR of 7.98 per-cent in value terms due to tightening of regulatory mechanism in top exports markets of US, Russia & Africa, reports said.

Read More : Agri tips

Continue reading →