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APRIL 16, 2018


The Indian stock market closed higher for the eighth consecutive day. Nifty-50 traded positively throughout the day and makes a bullish green candle on the daily chart. Sensex gains 112.78 points and closes at the level of 34,305.43 and the Nifty gains 47.75 points or 0.46% and closes the candle on the 10,528.35. Stocks in the reality sector and healthcare sector leading the gains while the IT stocks and telecom stocks end the day in red.


Nifty-50 opens the day in red and faces buying interest throughout the day and ends the day in green. The market opens below the previous close at the level of 10,400.30 and closes at the level of 10,528.35 which make it gains 0.46% from the previous close. On the technical aspect the index opens below the 7 DMA and closes above it. The PSAR is below the candle the RSI indicator shows the value of 32 which shows the market traded on the positive side. The support levels for tomorrow’s market are 10,438 & 10,349 and the major resistance levels are 10,578 followed by 10,627.


INDEX NIKKEI 225

OPEN 21,843.55

HIGH 21,879.69

LOW 21,775.61

CMP 21,835.53

%CHANGE 0.26%

HANG SENG

30,849.72

30,849.72

30,190.75

30,315.59

-1.63%

TAIWAN

10,962.36

10,974.94

10,921.17

10,954.55

-0.10%

STRAITS TIME

3,509.26

3,509.48

3,482.29

3,497.19

-0.12%


INDEX

P.Close

NIFTY BANK

OPEN

HIGH

LOW

CURRENT

%CHANGE

25,200.60 25,082.10

25,348.55

25,067.35

25,320.85

0.48%

NIFTY IT

13,260.45

12,936.30

13,242.05

12,935.25

13,203.10

-0.43%

NIFTY PHARMA

8,730.60

8,707.90

8,877.10

8,696.25

8,867.20

1.56%


DCB Bank: The Private sector lender has reported good earnings growth and improvement in asset quality performance. Net profit for the March quarter grew by 21.5 percent to Rs 64.2 crore and net interest income grew by 19.7 percent to Rs 263.7 crore compared to year-ago.Operating profit increased 23 percent to Rs 142 crore from Rs 115 crore on year-on-year basis. Gross nonperforming assets improved to 1.79 percent in Q4FY18 from 1.89 percent in Q3FY18 and net NPA also improved to 0.72 percent from 0.87 percent on sequential basis. Kotak Mahindra Bank: The private sector lender has entered into a list of top 10 stocks that have maximum market capitalisation. Kotak Mahindra Bank toppled country's largest lender SBI in market cap, became the 10th most valued listed stock after TCS, Reliance Industries, HDFC Bank, ITC, HDFC, HUL, Maruti Suzuki, Infosys and ONGC.

Suzlon: Renewable solution provider said that it has commissioned 626 MW of wind power projects in 2017-18 (FY18), the highest installations by any player during this fiscal. With this, Suzlon has gained a market share of 35 percent despite an extremely challenging year for the sector and several hurdles due to the transition from feed-in-tariff (FiT) to bidding regime. As as result the overall wind industry installations plummeted to 1,766 MW in due to stagnant volumes, uncertainty on power purchase agreements (PPAs) and policy environment.


Vedanta: Mining mogul Anil Agarwal-led Vedanta Resources plc announced the appointment of Srinivasan Venkatakrishnan as the new chief executive of the company, replacing interim CEO Kuldip Kaura. Venkatakrishnan, or Venkat as he is known, is currently the CEO of Johannesburg-based AngloGold Ashanti Ltd, the world's largest emerging market gold producer. Venkat, 53, will assume the new role effective August 31, the company said in a statement. Vedanta had in August last year appointed an interim chief executive, Kaura, to replace Tom Albanese.

SPML Infra Limited: The infrastructure company with its joint venture partner OM Metals Infraprojects has secured an international order from Ministry of Food and Agriculture, Republic of Ghana for the work related to rehabilitation and completion of Kpong left bank irrigation project in Ghana, Africa for USD 32 million (approximately Rs 205 crore).

Bharat Heavy Electricals: BHEL has secured an order for the renovation and modernisation (R&M) of electrostatic precipitators (ESP) at Ramagundam Super Thermal Power Station (STPS). Valued at Rs 137 crore, the turnkey order envisages carrying out R&M of ESPs of three units of 200 MW each at Ramagundam STPS, Stage-I (3x200 MW) of NTPC. BHEL's scope of work in the contract includes design, engineering, manufacture, supply, dismantling, erection, testing and commissioning of the ESPs to bring down the SPM emission within the stipulated levels.

Steel Strips Wheels: The company has bagged yet another big exports order for supply of steel wheels for EU Caravan market. Order comprises of approximately 41,000 steel wheels to be shipped from SSWL's Chennai plant from next month onwards.The company is expected to close some more export orders with another European customers in recent future.


Daily trend prediction report 17 apr 2018 by tradecure  

TradeCure Financial Research is SEBI Registered Investment Advisory Company in India- provides you the best stock cash tips, call put tips,...

Daily trend prediction report 17 apr 2018 by tradecure  

TradeCure Financial Research is SEBI Registered Investment Advisory Company in India- provides you the best stock cash tips, call put tips,...

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