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LORD JESUS CHRIST SAYS

So do not worry, saying, ‘What shall we eat?’ or ‘What shall we drink?’ or ‘What shall we wear?’ For the pagans run after all these things, and your heavenly Father knows that you need them. But seek first his kingdom and his righteousness, and all these things will be given to you as well. Therefore do not worry about tomorrow, for tomorrow will worry about itself. Each day has enough trouble of its own.

18 Apr 2016

STOCK MARKET- MARKET TURN FLAT ON GLOBAL WOES, INFOSYS VAULTS OVER 7%.

"Early moves are likely to be indedicisve fo the Nifty, but ability to float above 7,847 could be an indication that 8,000-8,076 could attempted, paving way for the medium term objective of 8,200-8,300. Inability to push past 7,955 could be taken as a bear sign," according to Geojit BNP Paribas technical report.

 

Meanwhile, inflation based on wholesale price index (WPI) for March 2016 is scheduled to be released today. Stockmarket will remain closed on Tuesday on account of Mahavir Jayanti.
 
GLOBAL MARKETS
 
Asia markets have faltered in the morning trades with Japan’s shares bleeding in red after a series of earthquakes measuring up to 7.3 magnitude hurt the sentiment. Meanwhile, rise in Yen has further impacted. Japan’s Nikkei is down 3%. Also, sharp fall in the crude oil prices after OPEC and non-OPEC producers on Sunday failed to reach a deal to freeze oil output is contributing t the losses. China’s Shanghai Composite, Hong Kong’s Hnag Seng have dropped 1% each.
BUZZING STOCKS
 
On the domestic front, the technology pack is on the investor’s radar with IT giant Infosys’s profit came in ahead of market expectations and the revenue growth was in line with the market expectations of $2.45 billion. Full-year revenue growth came in at 9.1% in actual currency terms, meeting its own guidance. Infosys is the top gainer in the Sensex pack up 7.5%.
 
In contrast, TCS is trading lower by 2% after a jury in the US fined the IT major a phenomenal amount of $940 million on charges of stealing the intellectual property of another software company. TCS is scheduled to release its numbers today.
 
Another stock that is hogging limelight in today’s trade is ITC up 2% after the company decided to resume manufacturing of cigarettes at its factories soon following a favourable high court order. Manufacturing had been suspended since April over the large pictorial warning issue. 
 
Going ahead, Wipro and HDFC Bank are scheduled to announce their earnings this week. Wipro is up 0.6% and HDFC Bank is trading flat with negative bias.
DCB Bank jumped over 6% after its fourth quarter net profit increased 10% to Rs 70 crore from Rs 63 crore mainly due to demand for loans from small and medium enterprises and individuals to buy homes and agriculture linked loans.
 
NHPC has inched down after the company declared that TLDP-III (4 X 33) MW Power Station in West Bengal shall be complete shutdown w.e.f. April 13, 2016 to April 14, 2016 for replacement work of 'R' phase circuit breaker of Unit number 2 in GIS. 
 
Further slip in the oil prices have dragged the oil majors lower. ONGC, Cairn India and Oil India have slumped between 1.5%-5%.

 

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