Welcome To Basil

Breaking News

What changed for the market while you were sleeping?

12 things you should know | The GRS Solution:-

The Indian markets witnessed a volatile day but bulls managed to regain control over D-Street on Thursday. The index reclaimed its crucial resistance level of 10,500 and closed near its intraday high level and made a bullish candle on the daily candlestick charts.

T​he Nifty which opened at 10,469 slipped to an intraday low of 10,441 in the morning trade. However, bulls took charge in the afternoon trade and pushed the index beyond 10,500 to touch its intraday high of 10513. The index finally closed 61 points higher at 10,504.80.
According to Pivot charts, the key support level is placed at 10,459.87, followed by 10,414.93. If the index starts to move higher, key resistance levels to watch out are 10,531.37 and 10,557.93.
Nifty Bank closed at 25,462.6. Important Pivot level, which will act as crucial support for the index, is placed at 25,351.84, followed by 25,241.07. On the upside, key resistance levels are 25,531.84, followed by 25,601.07.
Stay tuned to Moneycontrol to find out what happens in currency and equity markets today. We have collated a list of important headlines from across news agencies.

US markets end higher, Dow tops 25,000 milestone

The Dow industrials broke above the 25,000 level for the first time on Thursday and other major indexes hit closing record highs again, propelled by strong global economic data that extended the New Year’s rally for the stock market.

The Dow Jones Industrial Average rose 152.45 points, or 0.61 percent, to 25,075.13, the S&P 500 gained 10.93 points, or 0.40 percent, to 2,723.99 and the Nasdaq Composite added 12.38 points, or 0.18 percent, to 7,077.92, Reuters reported.
Asia markets trade higher on global optimism

Asian markets tracked stateside gains on Friday after the Dow Jones industrial average hit a major milestone. Japan's benchmark Nikkei 225 index tacked on 0.17 percent. The Kospi rose 0.54 percent, with automakers a touch higher after closing lower in the last session, CNBC reported.
SGX Nifty

Trends on SGX Nifty indicate a positive opening for the broader index in India. Nifty futures were trading around 10,554-level on the Singaporean Exchange.
All eyes on FY18 GDP estimates today

Data released by ministry of commerce showed that eight core industries including cement, steel and refinery products witnessed a 13-month high of 6.8 percent in November from 5 percent a month ago. GDP growth grew at 6.3 percent in quarter-ended September, higher than a 13 quarter low of April-June’s 5.7 percent.
According to Care Ratings, their projection for GDP growth for 2017-18 is 6.7-6.8 percent, based on the assumption of significant acceleration in October-December and in quarter-ended March.
Oil hits highest since 2015 on Iran unrest, tighter market

Oil rose further above $68 a barrel on Thursday to the highest since May 2015, supported by unrest in Iran raising concern about risks to supplies, cold weather in the United States boosting demand and OPEC-led output cuts.

Brent crude was up 6 cents at USD 67.90 a barrel at 1005 GMT and traded as high as USD 68.27. US crude rose 23 cents to USD 61.86 and also touched the highest since May 2015, Reuters reported.
GDP can clip at 6.7% average for next 5 years: Fitch

The country has the potential to grow at an average of 6.7 percent per annum over the next five years and will be the fastest growing large economies, global rating agency Fitch said.

The country is set to witness a continued robust growth in the working-age population in the next five years, bolstering growth potential, it added.
Trump takes credit for Dow 25,000, says 'I guess our new number is 30,000'

With the Dow breaking 25,000 for the first time, President Donald Trump is taking credit and hoping for more gains. "I guess our new number is 30,000," Trump said on Thursday. "There were those that said we wouldn't break 25,000 by the end of the eighth year [of my administration], and we're in the 11th month."
On Thursday, he tweeted: "Dow just crashes through 25,000. Congrats! Big cuts in unnecessary regulations continuing", CNBC reported.

Apollo Micro IPO to open on Jan 10

Apollo Micro Systems Ltd on Thursday said it has fixed a price of Rs270-275 per share for its initial share sale offering, through which it is estimated to raise Rs 156 crore. The initial public offer will open on January 10 and close on January 12, Apollo Micro Systems said.

Aryaman Financial Services is the sole book running lead manager to the issue. The IPO of Rs 156 crore of face value of Rs 10 each for cash at a premium will be offered through a book-building route at a price-band of Rs 270–275 per equity share.
FICCI urges govt to bring down corporate tax to 28% in Budget

FICCI on Thursday urged the government to lower the corporate tax rate to 28 percent from 30 percent in the forthcoming Budget, a move that would boost the industry and help tide over the problems created by the US tax reforms.
Rs 80K cr PSB recap bonds to be accompanied by more reforms: FM

The Lok Sabha gave its approval for Rs 80,000 crore recapitalisation bonds for strengthening public sector banks (PSBs), with Finance Minister Arun Jaitley promising that the fund infusion would be accompanied by a series of reforms.

The minister further said that the Department of Financial Services has prepared a detailed plan with regard to capital infusion and the quantum that each bank will get out of Rs 80,000 crore during this fiscal for improving their capital adequacy ratio.
US suspends security aid to Pakistan over militant groups

The United States said on Thursday it was suspending an undisclosed amount of security assistance to Pakistan, which two officials said was worth more than USD 255 million, until Islamabad takes action against the Afghan Taliban and the Haqqani network, Reuters reported.
FinMin clears FDI proposal worth Rs 532 cr in Dec

The finance ministry on Thursday said it cleared a foreign direct investment (FDI) proposal worth Rs 532 crore in December. The proposal relating to Metaffinity Pvt Ltd was approved for making investment in Religare Health Insurance Company engaged in health insurance business, Finance Ministry said in a statement issued on Thursday.

No comments