Sensex, Nifty, Midcap off record highs; Coal India extends gains

Equity benchmarks hit fresh record high again in opening on Tuesday, with the Sensex trading above 34,400 level.

The rupee traded higher by 1 paise at 63.50 against the US dollar in morning on fresh selling of the American currency by exporters and banks amid early gains in stocks.

Forex dealers said persistent inflows of foreign funds and weakness in the dollar against other currencies overseas supported the domestic unit.

Yesterday, the rupee had retreated from its near three-year high and ended lower by 14 paise at 63.51 against the US currency on fresh bouts of dollar demand amid concerns over the sluggish outlook for economic growth.

Buzzing: Shares of Aarti Drugs touched 52-week high of Rs 784.80, rising 7 percent in the early trade on approval of buyback of shares.

The board of directors of the company in their meeting held on January 8 has approved the buyback of up to 2,75,000 fully paid up equity shares of face value of Rs 10 each.

The board has fixed the buyback price at Rs 875 per equity share payable in cash for an aggregate amount of upto Rs 24,06,25,000, which is being 5.97 percent of the fully paid-up equity share capital and free reserves as per the standalone audited balance sheet of the company as on September 30, 2017.

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Sensex trades at record high, Nifty hits 10,600 for 1st time

Indian markets started the year 2018 on a bullish note with benchmark indices hitting fresh record highs in the second week of January as well.

The rally comes despite crude oil prices which are hovering near two-and-half-year high, but hopes of a recovery in corporate earnings, government meeting FY18 fiscal deficit target and further progress in PSU banks recapitalization are keeping the momentum going on D-Street.

Global cues also played a key role in India's 30 percent rally reported since 2017. The market hit a fresh record high in the second week of 2018 also - the 30-share BSE Sensex rallied 204.36 points to 34,358.21 and the 50-share NSE Nifty jumped 60 points to 10,618.90.

Domestic liquidity is likely to drive the Nifty higher by 10-15 percent in the current year, but overall 2018 is expected to be a volatile year for market due to likely tightening of interest rates by global central banks that may pull out some money from emerging markets like India to the US, experts suggest.

Back home, the government on Friday said it expected the country's gross domestic product (at constant 2011-12 prices) to be Rs 129.85 trillion in the financial year ending in March - growth of 6.5% on a year-on-year basis, compared with 7.1% in 2016-17.

"The growth in GDP during 2017-18 is estimated at 6.5% as compared to the growth rate of 7.1% in 2016-17," the Ministry of Statistics & Programme Implementation said in its estimate of National Income for 2017-18.

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CAPITALSTARS NIFTY FUTURES & BANK NIFTY FUTURES OVERVIEWS - 04 JAN 2018

CS NIFTY FUTURES (JAN ) OVERVIEW

TREND BULLISH

RES2:10555

RES 1:10505

SUP1:10415

SUP2:10375

CS BANK NIFTY FUTURES (JAN ) OVERVIEW

TREND BULLISH

RES 2:25575

RES 1:25515

SUP1:25325

SUP2: 25275

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CAPITALSTARS NIFTY FUTURES & BANK NIFTY FUTURES OVERVIEWS - 02 JAN 2018

CS NIFTY FUTURES (JAN ) OVERVIEW

TREND BULLISH

RES2:10625

RES 1:10575

SUP1:10450

SUP2:10415

CS BANK NIFTY FUTURES (JAN ) OVERVIEW

TREND BULLISH

RES 2:25725

RES 1:25625

SUP1:25415

SUP2: 25275

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CS NIFTY FTURES & BANK NIFTY FUTURES OVERVIEWS - 01 JAN 2018

CS NIFTY FUTURES (JAN ) OVERVIEW

TREND BULLISH

RES2:10625

RES 1:10575

SUP1:10450

SUP2:10415

CS BANK NIFTY FUTURES (JAN ) OVERVIEW

TREND BULLISH

RES 2:25725

RES 1:25625

SUP1:25525

SUP2: 25425

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SENSEX ENDS UP 209 POINTS, NIFTY ENDS ABOVE 10500 ON THE LAST DAY OF YEAR

INDIAN BENCHMARKS: SENSEX ENDS UP 209 POINTS, NIFTY ENDS ABOVE 10500 ON THE LAST DAY OF YEAR

Equity benchmarks ended the last day of the year on a strong note as the Sensex was up 208.80 points at 34,056.83 and the Nifty rallied 52.80 points to 10,530.70.

About 1,566 shares advanced against 1,204 declining shares on the BSE.

The 10-year government bond (6.79% 2027) yield fell sharply by 1.58 percent or 11 basis points to 7.279 percent, from previous close.

HEADLINES OF THE DAY

Lupin receives USFDA nod for Calcipotriene Topical Solution, generic of Dovonex Scalp solution.

Govt. approves construction of 5.45 lakh houses under Pradhan Mantri Awas Yojana.

Zydus receives final approval from the USFDA for Clomipramine Hydrochloride Capsules.

The crucial resistance for Nifty spot is now seen at 10560 and above this 10600.Support for the immediate term is now placed at 10440 and next support will be 10360.

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Indian rupee slip to lowest level since Dec 18, trades at 64.26

After a flat opening the Indian rupee fell to its lowest level since December 18.

Currently it is trading at 64.26 per dollar. On Wednesday it has closed at 64.15.

Mohan Shenoi of Kotak Mahindra Bank said, "Currency market activities remain muted during the last week of calendar year. Sharp spike in oil prices has not impacted Asian currencies and rupee so far. Exporter participation seen at higher levels."

"We expect the USD-INR pair to trade in a range of 64-64.20 for the day."

"Government borrowing programme through dated G-sec for last quarter announced additional borrowing of Rs 50,000 crore. The bond market is expected to be bearish on this news and also on account of sharp rise in crude oil prices."

"The 10-year benchmark bond yield is expected to trade in a range of 7.26-7.31 percent for the day," he added.

The dollar fell to near 3.5 week low as US treasury yields slipped in trade, currently the US currency is trading flat versus the Japanese yen.

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CAPITALSTARS NIFTY FUTURES & BANK NIFTY FUTURES OVERVIEWS - 27 DEC 2017

CS NIFTY FUTURES (DEC) OVERVIEW

TREND BULLISH

RES2:10575

RES 1:10535

SUP1:10495

SUP2:10425

CS BANK NIFTY FUTURES (DEC) OVERVIEW

TREND BEARISH

RES 2:25825

RES 1:25795  

SUP1:25555

SUP2: 25425

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CAPITALSTARS NIFTY FUTURES & BANK NIFTY FUTURES OVERVIEW - 26 DEC 2017

CS NIFTY FUTURES (DEC) OVERVIEW

TREND BEARISH

RES2:10575

RES 1:10525

SUP1:10442

SUP2:10415

CS BANK NIFTY FUTURES (DEC) OVERVIEW

TREND BULLISH

RES 2:25825

RES 1:25795

SUP1:25575

SUP2: 25425

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Capitalstars Infosys gets near 500% response to buyback

India's second largest IT services company, said it received 499.98 per cent higher response to the proposed share buyback plan.

The Bengaluru-headquartered company had in August announced a Rs 13,000 crore share buyback plan and promised to repurchase more than 113 million equity shares aggregating up to 4.92 per cent of the paid-up equity share capital at a price of Rs 1150 apiece.

It received applications for tendering more than 565 million equity shares, nearl ..

The company repurchased 1.39 million and 1.5 million from Rohan Murthy and Sudha Gopalakrishnan, respectively, amongst the promoters of the company. Post buyback, the promoters will hold 12.90 per cent of Infosys total equity shares.

Infosys is the third IT services firm to receive higher subscription share buyback. While WiproBSE 1.16 % saw 341 per cent higher subscription, TCSBSE 1.76 % reported nearly 221 per cent higher response against its buyback plan.

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CAPITALSTARS NIFTY FUTURES & BANK NIFTY FUTURES OVERVIEWS - 22 DEC 2017

CS NIFTY FUTURES (DEC) OVERVIEW

TREND BEARISH

RES2:10555

RES 1:10505

SUP1:10442

SUP2:10415

CS BANK NIFTY FUTURES (DEC) OVERVIEW

TREND BULLISH

RES 2:25825

RES 1:25795

SUP1:25575

SUP2: 25425

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