Preferential issue: As board decides Den Network spurts 10%

NEW DELHI: Den Network shares saw a 10 % discharge in Friday's trade after the company said the board 
members would review & approve the plan for preferential issue of equity shares next Tuesday. 

Following the news, the stock surged 9.99 % to hit a higher of Rs 79.80 on BSE. At prevailing price, the scrip is trading below 14-day, 50-day and 200-day easy moving averages, data available with database Capitaline indicates. 

The company accused a net loss of Rs 57.31 cr for the June quarter, compared with a Rs 50.75 cr loss during the corresponding quarter last year. Sales for the quarter grew 23.95 % to Rs 236.97 crore from Rs 191.18 cr in the same quarter last year. 

In FY16, broadband subscribers for DEN Networks spread to 95,000 from 23,000 in FY15. For peer Hathway Cable & Datacom subscriber base pushed to 627,200 from 455,800 in FY15, and SITI Cable Network to 132,000 from 60,000, suggesting a growth in broadband penetration.

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Experts believe Nifty futures may move high near 7,625-7,650 levels in the short term

What is required now is for the index to build on this starting trading day & then assist that let us say positive move through the week, then we could perhaps have a spirited week and then we can all look forward to much better times but all those are things that we await.

At present, we close previous week with a slight upward bias. We look forward to up-coming week with some hope.Click for Free nifty futures tips

The market has been stabilising near 7,500 at a fairly reasonable valuation. I think the worst is behind us.

At present, we have to wait for few positives in terms of catalyst, in terms of maybe better monsoons or for corporate earnings expansion to kick start, probably in the Q2 or Q3(second or third quarter) of FY17," told Edelweiss Securities in a note.

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Share market tips & overview : Buy Reliance Infra call 24 Feb, 2016

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Share market updates : Most Asian markets were trading down. Japan's benchmark Nikkei was trading 0.65 per-cent lower at 15,948.31. China's CIS300 fell 0.17 per-cent to 3,087.Click for more Share tips

Other Asian market indices, including Hong Kong's Hang Seng (down 1.20 per-cent), South Korea's Kospi (down 0.02) & the TWSE of Taiwan (down 0.50 per-cent) were trading lower.


FUTURE: BUY RELIANCE INFRA ABOVE 409.50 TGTS 411.50/414.50/418.50 SL 407

FUTURE: RELIANCE INFRA HIT 1ST TGT 411.50 HIGH OF 411.75 BOOK PART PROFIT

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Sensex down 100 pts, Nifty futures below 7,150

Today, S&P BSE Sensex pared all of its earnings to trade lower by 100 pts after increasing over 100 pts bucking the strong world wide cues.

The Free nifty futures was trading below its critical psychological level of 7,150 after regaining 7,200 for a brief period of time. Shares of Gati surged over 7 per-cent in trade while those of Emami slided around 3 per-cent. ONGC & Adani Portts & SEZ shares climbed  by 2 per-cent each on the BSE benchmark.

The broader market traded mixed with the BSE midcap falling down by 0.55 per-cent & BSE smallcap index rising by 0.18 per-cent.

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Today Sensex, Nifty unlocked flat 8 Feb, 2016

Today, Stock market has opened flat. The Sensex is down 11.57 pts or at 24605.40 while the Nifty went down 5.30 pts at 7483.80. Today, nearly 293 shares declined, 527 shares have advanced, & 44 shares are unchanged.Axis Bank, Tata Steel, ICICI Bank, NTPC and Adani Ports are top gainers while Infosys, Tata Motors, TCS, ONGC & HDFC are losers in the Sensex.

The INR(rupee) declined in the early trade . It unlocked lower by 21 paise at 67.85 per dollar against 67.64 friday last week. The dollar earned after a jobs report that supports bets the Fed Reserve will raise interest rates current year.

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Mcx crude tips : Prices of Oil slides to weakest since 2003 18 Jan

Mcx crude tips : Oil prices strikes today their lowest since 2003 , as the market braced for a jump in Iranian exports after the lifting of sanctions against the country during the weekend.

Iran is ready to increase its crude exports by 500,000 bpd, its deputy oil minister told on yesterday.

U.S. crude went down by 27 cents at $29.15 a barrel, after striking a 2003-low of $28.36 earlier in the session.

The prices of crude oil price rout is also hurting stock markets, with Asian shares set to decline to near their 2011 troughs today, stoking further worries about a world wide economic downturn.

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Nifty -50 below 7,750; Sun Pharma sinks 7% 21 Dec, 2015

The 30-share index regained some of the morning losses, but still trading at 25,480, down 40 pts or 0.15 per-cent. It attained a high of 25,487.91 and a low of 25,413.54 in morning trade.

The Nifty-50 was at 7,755 down 7 pts or 0.10 per-cent. It reached a high of 7,758.50 and a low of 7,733.45 in the first 30 mins of trade.

The S&P BSE Midcap Index went up 0.36 per-cent and BSE S&P Smallcap Index was trading 0.23 per-cent higher.

Hindalco (up 1.2 per-cent), Tata Motors (up 0.95 per-cent), Lupin (up 1 per-cent), and HDFC (up 0.82 per-cent) were among the major Sensex gainers.

Sun Pharma (down 6 per-cent), Infosys (down 1.01 per-cent), Wipro (down 0.78 per-cent), HUL (down 0.42 per cent), and TCS (down 0.25 per-cent) were among the major Sensex losers.

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Today INR has some gains, Nifty, Sensex market opened down

Currency Update : The INR(Indian rupee) reversed its some gains seen in previous session. The currency unlocked at 66.48 per dollar on Friday, down 6 paise compared to 66.42 a dollar in preceding session. It closed at over 3-week closing high yesterday.

Today, the market has unlocked low after surging yesterday. The Sensex is down by 59.71 pts at 25744.07 and the Nifty went down 15.45 pts at 7828.90.

Around 326 shares have advanced, 223 shares went down, and 40 shares remains same. Bajaj Auto, TCS, Vedanta, M&M & Dr. Reddy's Labs are major losers while HDFC, Maruti, NTPC and Hindalco are top most gainers in the Sensex.

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WEEKLY MARKET ANALYSIS FOR MAY 18, 2015

NEWS INSIGHT
 Wall Street drifts, S&P 500 ticks up to record
 Petrol price hiked by Rs 3.13 a litre, diesel Rs 2.71/L
 Former employee sues Wipro in US on wage issues
 India, China sign 24 key agreements
 Rupee sees smart recovery, firms up against US dollar
 ABG slumps 3%; firm has defaultd on restructured loan
 MCX rallies 6% as Q4 net profit rises 13% to Rs 49 cr
 NBFCs can cut forward deals in corporate bonds: RBI

NIFTY ANALYSIS
 Positional Support for NIFTY 8086
 Positional Resistance of NIFTY is 8430
 Immediate resistance for NIFTY is 355
 Intraday Support of NIFTY is 8160
 Oscillator Analysis: Market is recovering from the psychological
level of 8000. Fall in stock is also less in comparison to index and
positivity shown by market on Friday can be considered as trend
reversal.
 Buy on dips strategy can be followed with proper strop loss.

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