Tuesday, March 06, 2018

Market Pulse
The stock market further trimmed gains in the mid-morning trade with the two key benchmark indices hitting intraday lows.

At 12.28 IST, the barometer index, the S&P BSE Sensex was trading at 33,847.59 up 100.81 point or 0.30%, while Nifty was seen at 10,399.15  up 40.30 points or 0.39%. 

Key indices opened the session on a stronger footing on firm global cues. Later, indices trimmed gains so far. Global stocks gained as worries about a potential trade war waned in the aftermath of US President Donald Trump's tariff announcement on steel and aluminum.

Among secondary indices, the S&P BSE Mid-Cap index advanced 0.59%, outperforming the Sensex. The S&P BSE Small-Cap index rose 0.28%, underperforming the Sensex.

The breadth, indicating the overall health of the market, was positive. On the BSE, 1,375 shares advanced and 932 shares declined. A total of 137 shares were unchanged.

Stocks of public sector banks edged lower. Bank of India (down 1.94%), Union Bank of India (down 1.19%), State Bank of India (down 0.57%) and Punjab National Bank (down 0.1%) declined. IDBI Bank (up 2.55%) and Corporation Bank (up 0.63%) gained.

Bank of Baroda was up 0.14%. The bank has kept its Marginal Cost of Funds based Lending Rate (MCLR) unchanged, applicable from 7 March 2018. MCLR for overnight loans will be 7.80%, for one month will be 7.85% and for three months will be 7.95%. The MCLR on 6-month loans will be 8.15% and for one-year loans the rate would be 8.30%, the bank said. The announcement was made after market hours yesterday, 5 March 2018.

Stocks of private sector banks advanced. IndusInd Bank (up 2.01%), Yes Bank (up 1.13%), Axis Bank (up 0.56%) and Kotak Mahindra Bank (up 0.35%) gained. HDFC Bank (down 0.2%) and ICICI Bank (down 0.03%) declined.

The Reserve Bank of India (RBI) stated on 5 March 2018 that it will inject additional liquidity of Rs 1 lakh crore in banks through longer tenor instruments to enable flexibility towards meeting their fund needs. This measure is to address additional demand for liquidity and with a view to provide flexibility to the banking system in its liquidity management towards March-end, the central bank said. This will be in addition to normal liquidity adjustment facility operations.

Realty stocks gained. Oboroi Realty (up 1.78%), D B Realty (up 0.99%), DLF (up 0.81%), HDIL (up 0.53%), Godrej Properties (up 0.49%) and Indiabulls Real Estate (up 0.39%) edged higher. Prestige Estates Projects (down 2.5%), Sobha (down 0.08%) and Unitech (down 0.14%) declined.

Jain Irrigation Systems rose 2.2% at Rs 113.95 after the company said it won an integrated drip irrigation project worth Rs 287.66 crore. The announcement was made during trading hours today, 6 March 2018.

Overseas, Asian stocks rallied, tracking gains in the US and Europe in the last session as concerns over a potential trade war faded.

US stocks rose yesterday, 5 March 2018, erasing earlier losses, as worries about a potential trade war waned. US President Donald Trump announced tariffs on steel and aluminum that sparked fears of a trade war.

Today's Calls:
#Yesterday,  the following news was sent to the Premium Members that the stock of Reliance Infrastructure Ltd had not broken the support of Rs.427. You can add the scrip for a short term target of Rs.470..Today, the stock of Reliance Infrastructure Ltd has made an intraday high of Rs.645.30 in the NSE and is now trading at around Rs.544. 

#HDIL (Rs.46.7), has bounced from its support of  around Rs.46, however it has broken a two year old support at Rs.47. So, the best price to average would probably above Rs.47. Or only if it gives a closing above Rs.47. Moreover, the derivative contracts (FUTURE & OPTION..BOTH) "FORTIS, HDIL, IDBI & ORIENTBANK" have crossed 95% of the market-wide position limit and are currently in the ban period. 

#Intraday  Sell NIFTY FUTURE at around 10435, SL: 10455, T: 10390. Target achieved at 10390 ==> Book Complete Profit. Call Closed!!

#The stock of MCX Ltd (Rs.781) has given a break out. Keep holding with a SL of Rs.777. This is for those who bought  yesterday at around Rs.770.

#Profit Booking was suggested in the share of P C Jewelers Ltd at around  Rs.348.  Wait for the dips to enter.

#TV Vision Ltd (Rs.16) bounced from its support. You can accumulate keeping Rs.15.7 as  the Ultimate Stop  Loss.

#Sell TATA MOTORS FUTURES at around Rs.355; SL  above Rs.359; T: Rs. 349. BOOK PROFIT at around Rs.352.4. Call Closed!!

#Intraday BUY BPCL at around Rs.443, SL: Rs.439.75,  T:Rs.449. Book PARTIAL PROFIT at around Rs.445.50

Join the Premium Service or Trade through my recommended BROKERAGE HOUSE with a minimum portfolio size of Rs.3 lakhs (to get Premium Service Free of charge) to stay ahead of others. 

~~With inputs from Capital Market - Live News
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