Nifty hits fresh closing high, ends above 10,150; Sensex up 151 points

All that happened in Monday's trade

8:59 AM

Nifty view by Prabhudas Lilladher:

 

Nifty, after several failed attempts, is taking great difficulty to cross the peak level of 10,137 and is moving in a narrow range coupled with the geopolitical tensions prevailing. The weekly trend has turned up after five weeks and technically, there is no negative signal to create any chaos. However, the support for the week is seen at 9,940 while resistance is seen at 10,200.

8:55 AM

Stock recos by Devang Shah

MARUTI SUZUKI– BUY

CLOSE – Rs 8,088

TARGET – Rs 8,200/8250

 

L&T FINANCE- BUY

CLOSE – Rs- 206.90

TARGET – Rs 215/219

 

ADANI PORTS- BUY

CLOSE – Rs 404

TARGET – Rs 420/425

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8:54 AM

Nifty Outlook by Devang Shah

Market finally broke out of short term Bullish Triangular consolidation range on upside as expected last week.One should expect market to trend towards higher levels targets as mentioned below in short term. 

 

Short term trader should be stock specific & book profit at regular intervals in this rally. All the other indices such as midcap & small cap & Nifty Bank also closed weekly in positive territory.

 

Short-term outlook for the market remains positive till Nifty trades above 9,988 levels and expecting target of 10,300-10,500 levels in short term. 

 

Medium term outlook for the market remains positive till Nifty trades above 8,968 levels and is expecting targets in the range of 12,000-12,200 levels in medium term.

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8:52 AM

FPIs withdraw Rs 3,000 cr from stocks in Sept so far

 

Continuing their selling spree, overseas investors have taken out over Rs 3,000 crore from equities this month so far amid "lacklustre earnings season" and geopolitical headwinds.

 

The net outflow by foreign portfolio investors (FPIs) follows a withdrawal of Rs 12,770 crore from the stock market in August. Prior to that, they had pumped in over Rs 62,000 crore in the past six months.

 

According to the latest depository data, FPIs withdrew a net Rs 3,085 crore ($481 million) from September 1-15.

 

However, they pumped in Rs 3,051 crore in debt markets during this period. READ MORE

8:50 AM

India's forex reserves cross $400 billion

 

India’s foreign exchange reserves crossed the $400-billion mark last week, data released with a lag of seven days by the Reserve Bank of India (RBI) showed.

 

As of September 8, the forex reserves with the central bank stood at $400.73 billion, up $2.6 billion from a week earlier. Most of the reserves — about $376.20 billion — are held in foreign currency assets such as the US dollar, euro, pound sterling, Japanese yen, etc, and is valued in terms of the American greenback. READ MORE

8:50 AM

India's CAD at 2.4% of GDP

India’s current account deficit (CAD) in the first quarter ended June soared to a four-year high of $14.3 billion, or 2.4% of gross domestic product (GDP), from 0.1 per cent a year ago and 0.6 per cent in the fourth quarter.

 

The CAD, the difference between imports and exports, was at $0.4 billion a year ago and $3.4 billion in the fourth quarter of 2016-17. 

 

Despite the high CAD, strong capital flows ensured that the balance of payment surplus was at $11 billion, a two-year high. READ MORE

8:44 AM

SGX Nifty

 

The Nifty50 futures on the Singapore Stock Exchange were trading 52 points higher at 10146 indicating a positive opening for the domestic market.

8:44 AM

Asian Shares at 10-year highs

Asian shares hit decade highs on Monday and the dollar held firm early in a week in which the U.S. Federal Reserve is likely to wrestle with its bloated balance sheet as part of a long reversal of super-cheap money worldwide.

 

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.9% to reach heights not visited since late 2007. Samsung Electronics led the gains, along with healthcare and financial stocks.

 

Australia’s main index added 0.6% while Japan’s Nikkei was closed for a holiday. E-Mini futures for the S&P 500 rose 0.2%.

8:43 AM

Wall Street hits record highs

 

Wall Street reached record highs on Friday, with the S&P 500 surpassing 2,500 points as telecommunications shares rose and technology bounced back after two days of declines. 

 

The Dow Jones Industrial Average rose 0.29% to end at 22,268.34 points, while the S&P 500 gained 0.18% to 2,500.23. The Nasdaq Composite added 0.3% to 6,448.47.

8:42 AM

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