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15 things you should know -- The GRS Solution

15 things you should know -- The GRS Solution
The Nifty50 is likely to open higher on Thursday tracking positive handover from Wall Street. The Nifty50 closed 72 points higher at 9,899 on Wednesday.
The Nifty Future is likely to open higher on Thursday tracking positive handover from Wall Street. The Nifty50 closed 72 points higher at 9,899 on Wednesday.
The index formed a strong bull candle on the daily candlestick charts on Wednesday. A strong bull candle on the daily charts and the crossing of 5-days exponential moving average (DEMA) on a closing basis is a positive sign for the bulls.GRS 
Bulls bounced back on D-Street after being knocked out in the previous trading session. Formation of a bullish candle after a 'Long Legged Doji' pattern confirms the bullish bias on the D-Street, suggest experts.
However, the momentum will strengthen once Nifty manages to break above 9900-9928 on a closing basis. Traders are advised to create fresh long positions only when index breaks above 9,928 levels.
Asian shares surged to a near-decade peak led by a surge in global stocks to a record high on strong US corporate earnings. Investors across the globe also await the Japanese and European central bank meetings for clues on policy outlooks.GRS Solution
Japan's Nikkei gained 0.1 percent. Australian stocks rose 0.3 percent and South Korea's Kospi advanced 0.15 percent.
Stay tuned with Moneycontrol to find out what happens in currency and equity markets today. We have collated a list of important headlines from across news agencies:
Wall Street at a new high:
The US stock market closed at record high helped partly by technology stocks. The S&P 500 tech sector broke its previous record closing high and has been the best-performing sector this year with a 22.8 percent advance, said a Reuters report.
Vertex jumped as much as 26.4 percent to an all-time high of USD 167 post results. The stock ended up 20.8 percent at USD 159.69, and was the biggest boost on the S&P and the Nasdaq.
The Dow Jones Industrial Average rose 66.02 points, or 0.31 percent, to 21,640.75, the S&P 500 gained 13.22 points, or 0.54 percent, to 2,473.83 and the Nasdaq Composite added 40.74 points, or 0.64 percent, to 6,385.04.
SGX Nifty
The Nifty50 futures on the Singapore Stock Exchange were trading 11 points lower at 9,916 indicating a mildly negative opening for the domestic market.
Presidential Election results on July 20
Three days after Parliamentarians voted to choose India's 14th President, the country will know about their choice on Thursday.
whether Ram Nath Kovind or Meira Kumar will be India's next president has been already decided by 776 MPs and 4,120 MLAs who voted on Monday.
The elected President will take oath on July 25, the same day current President Pranab Mukherjee's term expires.
ONGC to take over HPCL
The Union Cabinet on Wednesday gave an in-principle approval to the proposed acquisition of government’s 51.1 percent stake in Hindustan Petroleum Corporation (HPCL) by Oil and Natural Gas Corporation (ONGC), paving the way for an Indian oil and gas giant with interests in exploration, production, refining and marketing of the fuel in both India and abroad.
The stake sale will result in HPCL becoming an ONGC subsidiary though the capital market regulator may exempt the latter from making an open offer to buy another 26 percent stake from the public.
As per the norms of Securities and Exchange Board of India, a company has to make an open offer to buy another 26 percent of the target company if it buys 25 percent or more in the latter.
Tata Group considers restructuring
India's salt-to-software Tata Group is considering a plan to streamline its technology and infrastructure businesses, Bloomberg reported on Wednesday, citing people with knowledge of the matter.
The restructuring plan would involve moving several of its technology businesses under Tata Consultancy Services Ltd, the country's top software services exporter, the report said.
RIL eyed ahead of results:
RIL may report 1.1 per cent YoY rise in standalone net profit to Rs 7,630 crore in Q1FY18 against Rs 7,548 crore in the same period last year. Net sales of the company may jump 19.4 per cent YoY.
“We expect Reliance Industries’ (RIL) GRM to decline by 4.3 percent QoQ to USD 11/ bbl in Q1FY2018 while its throughput is expected to increase marginally by 1.1 percent QoQ to 17.7mmt and thus expect QoQ decline in the earnings of its refining segment,” said a Sharekhan report.
“RIL’s Petrochemicals segment’s earnings are expected to increase QoQ due to higher Polymer and Polyester spreads. Overall, we expect RIL’s Q1FY2018 earnings to decline 6.4 percent QoQ (+1.1 percent YoY) to Rs 7,630 crore,” it said.
US Dollar edges off lows
The US dollar rose against the euro a day after touching a more than one-year low. Market watchers will be looking to see if the recent strength of the euro and the yen influence policy outlooks from the European and Japanese central banks, said a Reuters report.
The ECB meets on Thursday and is expected to adjust its language as it gets closer to normalizing policy. That may include dropping a reference to its readiness to extend or expand its bond-buying program, it said.
The dollar index, which measures the greenback against a basket of six rival currencies, was last up 0.2 percent at 94.791, not far from the more than 10-month low struck Tuesday of 94.476.
Gold retreats towards USD 1,240/oz
Gold retreated towards USD 1,240 an ounce on Wednesday as the dollar's recovery from 10-month lows dampened upward momentum, said a Reuters report.
Spot gold was at USD 1,240.55 an ounce, down 0.1 percent and off Tuesday's two-week peak of USD 1,244.56. U.S. gold futures for August delivery were down USD 1.20 an ounce at USD 1,240.70.
Oil jumps to six-week high
Oil prices jumped almost 2 percent to a six-week high on Wednesday after a US report showed a bigger weekly draw than forecast in crude and gasoline stocks along with a surprise drop in distillate inventories, said a Reuters report.
The Energy Information Administration (EIA) said U.S. crude stocks fell 4.7 million barrels during the week ended July 14. ENERGYUSA, exceeding estimates for a 3.2 million draw in a Reuters poll.
Brent futures for September delivery settled up 86 cents, or 1.8 percent, at USD 49.70, while U.S. West Texas Intermediate crude for August settled up 72 cents, or 1.6 percent, at USD 47.12 on its second to last day as the front month.
FIR against Monnet Ispat
The CBI has registered a fresh case in the ongoing investigation in the coal scam against Monnet Ispat and Energy Limited for alleged irregularities in the operation and allocation of coal blocks to the company, said a PTI report.
The agency on Tuesday registered a case of criminal conspiracy and cheating against the company and unidentified persons.
Mindtree Q1 net profit jumps 25 percent at Rs 121.7 cr
IT services major Mindtree reported 25 percent increase in the net profit for June quarter at Rs 121.7 crore against Rs 97.2 crore posted during the previous quarter. The company posted a total income of Rs 1,289.5 crore against Rs 1,318.1 crore in the previous quarter.
Meanwhile, the company posted US dollar revenue at USD 200.1 million against a CNBC-TV18 poll of USD 203.3 million.
M-cap of BSE companies soars to life high of Rs131 lakh cr
Total market valuation of all listed companies on the BSE surged to a record high of over Rs 131 lakh crore on Wednesday brought about by upbeat sentiment in the broader market.
At the close of trade on Wednesday, the market capitalisation (m-cap) of BSE-listed companies stood at Rs 1,31,26,644 crore (over USD 2 trillion).
PSU banks in focus:
The finance ministry is working on the capital infusion strategy for public sector banks and an announcement to this effect will come soon, a senior finance ministry official said on Wednesday.
The funds infusion matrix as per the Indradhanus scheme is being given a final shape on the basis of representations from various banks for their capital needs, the official said.
Indian rupee closes at 6-week high
The Indian rupee on Wednesday closed at a 6-week high of 64.28 to the dollar, up 0.1 percent from its previous close, tracking gains in local equity markets.
Dealers said that custodian banks were looking to sell dollars early in the session, most likely on behalf of their foreign investor clients looking to buy into Indian markets.
23 companies to report Q1 results today:
23 companies will report their results for the quarter ended June on Wednesday which include names like ABB India, Alembic Pharma, Bajaj Auto, DB Corp, Force Motors, Hindustan Zinc, Kotak Mahindra Bank, NIIT Technologies, RIL, Wipro and Zensar Technologies among others.
11 stocks under ban period on NSE
Security in ban period for the next trade date under the F&O segment includes companies in which the security has crossed 95 percent of the market-wide position limit.
Securities which are banned for trading today include names like Fortis Healthcare, GMR Infrastructure, HDIL, Indiabulls Real Estate, JP Associates, JSW Energy, JustDial, Kaveri Seeds, OBC, TV18 Broadcast and Ujjivan.

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