Nifty 50 (9173)

Nifty has given active signals  from the bullish pattern formed in daily charts and now it is heading towards 9218..9244 
9120..9140 can act as strong support in this rally towrds new high with closing basis abv 9160

Today is the last day of financial year and  a new signal is seen in yearly charts 


From last 3 years nifty has been either topped up in march or bottomed out
Likewise today the high made will be a very important level for nifty in coming month 
If nifty crosses TODAY'S HIGH in coming days on closing basis than march low will not be seen if it does not cross today's high in  april and breaks march month's low than march month's high  that will the top

NIFTY BANK VIEW

Nifty Bank (21620)

Nifty bank is trading on its all time high next level is 21840..21920

Support zone lies @ 21300..21400 zone

Business Standard

Ø  India becomes associate member of IEA

Ø  Top Indian pharma cos in fray for Novartis’ brands

Ø  Lenders get no takers for Mallya's properties again

Ø  BoM hit by biggest financial fraud due to UPI bug

Ø  Govt's view on lower tariffs contradicts policy: Trai

Ø  Govt considering MIP on some aluminium products


Ø  India is running out of time on NPAs: K V Kamath

Ø  Vinod Rai says govt may merge two large banks

Ø  Kotak Mahindra Bank to raise Rs 5,400 crore of equity

Ø  BPCL, ONGC pip Reliance in overseas fundraising

Ø  NSE IPO: Algo issue resolution and defreezing of funds needed, say experts

Ø  Dividend payout of Rs 6,580 crore announced by Vedanta


Mint

Ø  Status quo on merchant discount rate: RBI

Ø  L&T Hydrocarbon Engg wins ₹4,000-cr worth global orders

Ø  Bank staff plan campaign against wilful defaulters from April 20

Ø  Auto companies offer discounts up to Rs. 12,500 on BS-III models

Ø  PTC India Financial Services sells IEX stake for ₹133 crore

 Ø  RBI may keep rates unchanged in April; cut 25 bps in August: BofAML

Ø  India may ease rules for foreign food retail before November

Ø  Yes Bank share offering succeeds, second time around

Ø  Future Lifestyle Fashions to raise Rs450 crore by diluting stake in investee brands

Ø  Home loan interest rates too high for Indian buyers: Survey


Financial Chronicle

Ø  Nifty ends at record high, Sensex rises 116 points on GST push

Ø  Toshiba to go ahead with Nuclear plant in Andhra Pradesh: Government

Ø  India, South Korea to cooperate on startups, tech transfer

Ø  BHEL commissions 2nd unit of Yeramarus plant in Karnataka

 Ø  Telecom Min rules out special treatment to Voda-Idea merger

Ø  Centre seeks ways to revive SAIL

Ø  Fitch maintains rating watch status on Tata Stee

Ø  Insurance coverage of TB negligible in India

Ø  EPFO defers decision to invest more in ETFs

Market Update

                      
Sgx Nifty +24 pts
‎Dow +69.17 pts ,Nsdq +16.80 pts , S&P +6.93 pts , Bovespa -262 pts , Ftse -4 pts , Dax +53 pts  , Cac +20 pts , Nikkei +103 pts now , Crude @ $50.27 brl (-0.08), Brent @ $53.01 brl (-0.08) , Gold @ 1242.70 (-2.30), Silver @ $18.142 (-0.06), Euro @ $1.0683, JPY @ $111.1900, INR @ $64.830


Today's Corporate Action
31st Mar  Ex Date


ASHARI
Bonus issue 4:1
INFRATEL
Interim Dividend - Rs. - 12.0000
SFCL
Amalgamation 

Today's Data Alert 

Mar 31: Core sector data for February, by commerce and industry ministry.

Mar 31: Government finances for Apr-Feb, by CGA.

Mar 31: CPI for industrial workers inflation for February, by Labour Bureau.

Today's Global Data

Mar 31: US foreign central bank holdings data; 0200 IST.

Mar 31: UK March consumer confidence survey; 0431 IST

Mar 31: Japan February consumer price index; 0500 IST

Mar 31: Japan February household spending data; 0500 IST

Mar 31: Japan February preliminary industrial production data; 0520 IST

Mar 31: Japan February auto exports and production data; 0930 IST

Mar 31: UK March house price index; 1130 IST

Mar 31: France February producers' price index; 1215 IST

Mar 31: France March provisional consumer price index; 1215 IST

Mar 31: Eurozone March economic activity index by EuroCOIN; 1300 IST

Mar 31: Germany March labour market statistics; 1330 IST

Mar 31: UK Oct-Dec GDP data; 1400 IST

Mar 31: UK Oct-Dec balance of payments data; 1400 IST

Mar 31: Eurozone March inflation flash estimate; 1430 IST

Mar 31: US March ISM-Chicago business survey; 1915 IST

Mar 31: US March University of Michigan survey of consumers sentiment; 1930
IST

Mar 31: US Federal Reserve Bank of St. Louis President Bullard to speak;
2000  IST

Mar 31: Bank of Italy Governor annual address on state of the economy

NIFTY BANK VIEW

Nifty bank (21391)

Nifty bank had given close above its all time high of 21336.

Now its heading towards 21474..21920 zone.

Support zone is @ 21140

NIFTY 50 VIEW

[9143]

NIFTY CLOSED WITH A BULLISH ENGULFING PATTERN COUPLED WITH 'W' ON DAILY CHART.

IF SUSTAINS ABOVE 9162 IT CAN SHOW 9218-9240 AREA 

SUPPORT AREA 9124-9119.

Economic Times

Business Standard

Ø  Nation now gets ready for GST in next three months

Ø  'Walmart okay with selling only Made-in-India goods'

Ø  Goods will become slightly cheaper after GST: Jaitley

Ø  Rupee enters 64-terrain after 17 months, up 13 paise

Ø  SC bans sale of non-BS IV vehicles from April 1

Ø  Direct recruitment in government jobs dips by 89%

Ø  IATA questions laptop ban on some flights to US, UK



Ø  Kotak launches zero-charge digital bank account

Ø  RInfra's Rs 3,000-cr InvIT fund gets NHAI approval

Ø  Rajya Sabha passes Finance Bill

Ø  RIL completes Gulf Africa Petroleum Corporation stake sale

Ø  Union MF, BOI Axa explore merger option

Ø  Coal India plans private mining consultancy foray

Ø  Rel Jio's Prime membership base close to hitting 50 million

Ø  EU blocks Deutsche Börse's $14-billion takeover of LSE

Business Line



Mint

Ø  DBT leads to Rs. 34,000 cr savings for govt: FinMin

Ø  Australian company keen to invest in Adani’s coal mine project 

Ø  JP Morgan group pays Rs 2.75 cr, settles case with SEBI

Ø  Tube Investments rolls out online bicycle brand

Ø  Amul vs HUL ice-cream ad case adjourned to Monday

Ø  `8.7 lakh telcom forms non-compliant with norms'



Ø  India becomes net exporter of power for the first time

Ø  Tata ties up with Alibaba to take Tetley tea bags to China

Ø  RBI says all payment systems to remain closed on 1 April

Ø  Monsanto termination of Nuziveedu Seeds sub-licence pact illegal: Delhi HC

Ø  ITR form made simpler, e-filing of income tax to start from 1 April

Financial Express



Financial Chronicle

Ø  Expensive valuations reign in bulls despite India stock markets’ rally

Ø  Kyrgyzstan for enhanced business, cultural ties with India

Ø  Bharti Airtel beats Reliance Jio, becomes fastest network in metro cities

Ø  Scramble to exchange money as March 31 deadline nears



Ø  Sensex ends 122 pts higher ahead of F&O expiry, SBI soars

Ø  EU drug approval plan triggers worries

Ø  Fund flows shore up rupee to 17-mth high of 64.86

Ø  Bad debt issues spook steel industry

Market Update

Sgx Nifty +29 pts
‎Dow -42.18 pts ,Nsdq +22.41 pts , S&P +2.56 pts , Bovespa +887 pts , Ftse +30 pts , Dax +53 pts  , Cac +22 pts , Nikkei -29 pts now , Crude @ $49.56 brl (+0.05), Brent @ $52.52 brl (-0.07) , Gold @ 1251.80 (-1.90), Silver @ $18.237 (-0.01), Euro @ $1.0755, JPY @ $111.1900, INR @ $64.842

🔹US GENERIC GOVT. 10-YEAR YIELD : 2.3981%

Today's Corporate Action
30th Mar  Ex Date

MAHLIFE
Right Issue of Equity Shares 
MPHASIS
Buy Back of Shares 
MUTHOOTFIN
Interim Dividend - Rs. - 6.0000
PFC
Interim Dividend - Rs. - 5.0000
SHARDACROP
Interim Dividend - Rs. - 2.0000

Today's Global Data

Mar 30: Japan February import & export statistics; 0600 IST

Mar 30: Eurozone March economic sentiment indicator; 1430 IST

Mar 30: Germany March provisional consumer price index; 1730 IST

Mar 30: US Oct-Dec GDP third estimate; 1800 IST

Mar 30: US jobless claims report for week ending Mar 25; 1800 IST

Mar 30: US weekly export sales data; 1800 IST

Mar 30: US Energy Information Administration natural gas status report for week  ending Mar 24; 2000 IST

Mar 30: US Securities and Exchange Commission meeting; 2030 IST

Mar 30: US Federal Reserve Bank of New York President Dudley to speak.

Nifty bank (21225)

Nifty bank is again heading towards its all time high of 21336 .
Due to expiry trading session  can be volatile 
Below 21200 it can slide down 21000 
Above 21280 it can show good rally 21336..21440

Nifty 50 (9100)

Nifty 50 has formed a positive pattern formation of W in daily charts .
The formation shows nifty has taken support @ 9010..9020 zone with a higher bottom of 9024 after 9019 
Now to make the pattern formation active it has to trade abv 9120..9140 zone again to catch up the uptrend 
Heading towards expiry the tradings session of today and tomorrow can be volatile 
Below 9000 selling can take over the trend

Market Update

Sgx Nifty +34 pts
‎Dow +150.52 pts ,Nsdq +34.77 pts , S&P +16.98 pts , Bovespa +332 pts , Ftse +49 pts , Dax +153 pts  , Cac +28 pts , Nikkei -11 pts now , Crude @ $48.54 brl (+0.17), Brent @ $51.53 brl (+0.08) , Gold @ 1250.00 (-5.60), Silver @ $18.163 (-0.08), Euro @ $1.0819, JPY @ $111.1100, INR @ $65.145


Today's Corporate Action
29th Mar  Ex Date


BEL
Interim Dividend - Rs. - 0.9000
HINDZINC
Special Dividend - Rs. - 27.5000

Today's Data Alert 


Mar 29: Money supply as on Mar 17, by RBI.

Mar 29: Tata Motors to launch Tigor compact sedan. 1900 IST, New Delhi.

Today's Global Data

Mar 29: US API crude stocks data for week ended Mar 24; 0200 IST

Mar 29: US Federal Reserve Governor Powell to speak; 0200 IST

Mar 29: Japan February preliminary retail sales data; 0520 IST

Mar 29: Germany February foreign trade price indices; 1130 IST

Mar 29: France March consumer confidence survey; 1215 IST

Mar 29: US MBA mortgage applications survey for week ended Mar 24; 1630 IST

Mar 29: US Oct-Dec international investment position; 1800 IST

Mar 29: US February pending home sales data; 1800 IST

Mar 29: US Energy Information Administration petroleum status report for
week ended Mar 24; 2000 IST

Mar 29: US Energy Information Administration petroleum status report for
week  ended Mar 24; 2000 IST

Mar 29: US Federal Reserve Bank President Rosengren to speak; 2100 IST

Mar 29: UK Prime Minister Theresa May to trigger Article 50 to formally
launch  Brexit

Mar 29: US Federal Reserve Bank of San Francisco President Williams.

Economic Times

Business Standard

Ø  Modi govt targets 25 bn digital transactions in FY18

Ø  NITI Aayog may seek closure of 7 more sick CPSEs

Ø  US consumer confidence hits 16-year high

Ø  Banks looking for lower savings a/c interest rates

Ø  'Excess Rs 3L cr in economy, need for digital push'

Ø  Kotak Bank likely to buyout M&M Financial Services

Ø  Prime gets lukewarm response; Jio may extend offer



Ø  GST to be levied on renting, EMI on under-construction property from July 1

Ø  India imposes import duty on wheat, tur dal

Ø  Sebi gets back discretionary powers on penalties

Ø  Indian Oil to supply fuel to Nepal for the next five years

Ø  Cairn-Vedanta merger gets all approvals except from RBI

Ø  SBI spent Rs 775 crore in maintaining Jan Dhan accounts, says govt

Business Line



Mint

Ø  Govt to borrow Rs. 3.72 lakh crore in H1 FY18

Ø  SEBI order based on untenable reasoning, says Reliance Ind

Ø  Airtel sells 10.3% stake in Bharti Infratel to KKR, Canada pension board for Rs. 6,194 cr

Ø  Levy for non-maintenance of minimum balance should be reasonable: Govt

Ø   Suven Life gets product patent for neuro-degenerative molecule 



Ø  Revised GST legislation may pinch working capital of industries

Ø  Irdai wants insurance policies issued in demat format

Ø  NHB to revamp its residential housing index

Ø  Tencent buys 5% stake in Elon Musk-led Tesla for $1.8 billion

Ø  Sharepro scam: Sebi plans new rules for share transfer agents, registrars

Financial Express



Financial Chronicle

Ø  Monsanto termination of sub-licence with Indian co illegal: HC

Ø  I-T identifies 1,155 shell cos used to launder Rs 13,300 cr

Ø  High court bans mining in Uttarakhand for four months

Ø  India now top global source of affordable medicines to Unicef



Ø  Sensex bounces 172 pts on positive global cues, funds inflow

Ø  Anil Ambani gets a seat on Atlantic Council advisory board

Ø  Toyota wants govt to frame policy to phase out BSI,II vehicles

Ø  Qatar Airways confident of clearing FDI hurdles in India

Ø  Lux Industries is merchandise partner of KKR

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NIFTY BANK VIEW

Nifty bank 21056 

Nifty bank is trading near its support zone of 21000.

Below this it can slide to 20850..700.

Above 21000 ..it can show 20202..20300

NIFTY 50 VIEW

Nifty 50 (9045)

Nifty has made low of 9024 near its previous dip of 9019.

Now if nifty trades below 9000 it can slide to 8950.. 8970..zone.

Only close above 9080- 9090 zone uptrend can resume.⁠⁠⁠⁠

Business Standard

Ø  India beyond our expectations, says Lei Jun of Xiaomi

Ø  Rupee storms to fresh 17-mth high; jumps 37 paise

Ø  GST draft bills tabled in Parliament; peg peak rate at 40%

Ø  2nd round oil field auction soon: Dharmendra Pradhan

Ø  New indirect taxes board to be in place from June 1

Ø  Three in final race for 35% stake in ICICI Lombard


Ø  RIL pulls a mini-Jio strategy in fuel retail

Ø  Govt, RBI may introduce gradation system to deal with bad debts

Ø  India needs to worry about short-term debt flows: US economist

Ø  Skymet offers no silver lining: Brace for weak monsoon

Ø  Nine years after ban, govt allows export of edible oil in bulk

Ø  Dr Reddy's to market Integra's products in India

Mint

Ø  BEML wins Rs. 1,421-cr contract from Bangalore Metro

Ø  Aadhaar cannot be made mandatory for welfare schemes:SC

Ø  CREDAI to launch 200 housing projects on April 8

Ø  L&T construction arm wins order worth Rs. 705 cr 

Ø  Gold rises to Rs. 29,430; silver recaptures Rs. 42K-mark 


Ø  Govt wants all PSU banks to be Aadhaar Pay-ready by April

Ø  IRFC declares Rs340 crore dividend

Ø  Sintex in talks with TPG, Blackstone, Carlyle to sell stake in Sintex Plastics

Ø  Fortis Healthcare said to consider buyout of Singapore trust

Ø  Ikea working on lower pricing for India stores


Financial Chronicle

Ø  Kotak to consider raising funds via multiple routes

Ø  BSE, NSE to conduct mock trading sessions on April 1

Ø  Anti-fraud steps lead to Rs 3 crore per month savings to Snapdeal

Ø  PE, venture capital-backed companies faring better than firms going solo


Ø  Centre to get greater chunk in residual GST Compensation Fund

Ø  Companies may have Rs 4 lakh crore excess working capital: EY

Ø  Sebi bans Amadhi Investments for 10-yrs in IPO case

Ø  Indian firms gaming H-1B visa system: US lawmaker

Market Update

Sgx Nifty +21 pts
‎Dow -46.74 pts ,Nsdq +11.64 pts , S&P -2.39 pts , Bovespa +454 pts , Ftse -43 pts , Dax -68 pts  , Cac -3 pts , Nikkei +178 pts now , Crude @ $47.84 brl (+0.11), Brent @ $51.04 brl (+0.06) , Gold @ 1252.95 (-2.75), Silver @ $18.082 (+0.11), Euro @ $1.0861, JPY @ $110.7600, INR @ $65.055


Today's Corporate Action
28th Mar  Ex Date


Nil


Today's Global Data


Mar 28: France February housing starts data; 1115 IST

Mar 28: US Retail Economist/Goldman Sachs chain store sales data for week
ended Mar 25; 1715 IST

Mar 28: US Oct-Dec state-wise personal income data; 1800 IST

Mar 28: US February advance economic indicators report; 1800 IST

Mar 28: US Johnson Redbook retail sales index for week ended Mar 25; 1825
IST

Mar 28: US January S&P CoreLogic Case-Shiller indices; 1830 IST

Mar 28: US March Richmond Fed business activity survey; 1930 IST

Mar 28: US March consumer confidence index; 1930 IST

NIFTY BANK VIEW

Nifty bank (21122)

Nifty bank is showing reversal signals in short term charts but positional charts are showing uptrend is exhausted.

Now when nifty bank trades above 21180 zone and closes above it the reversal will be active in positional charts too and it can head towards 21336 its all time high.

Below 21000 it can again shed down to 20800..700..500..400 levels for the week.

Nifty 50 (9108)

Nifty has still maintained the gap on weekly basis but is facing resistance at previous all time  high 9119 
Support zone lies at 9060..9040 ..9000
Resistance @ 9150..9240

Break through this range will decide the weekly trend 
This week due to expiry trading seessions can be volatile

Economic Times

Business Standard

Ø  No plan to introduce new denomination notes: RBI

Ø  FPI inflows hit $6b in March on hopes of more reforms

Ø  OPEC, non-OPEC panel suggests output cut extension

Ø  Arbitration on compensation in RIL-ONGC row starts

Ø  Jio will enable Indians to cut cord: Sling TV CEO

Ø  Motherson Sumi offering over $600 mn for Bosch's arm



Ø  CBDT to waive interest liability if tax demand paid in retrospective cases

Ø  Govt may table GST Bills in Parliament on Monday

Ø  Coal India announces second interim dividend for 2016-17

Ø  General insurance premium set to go up from April 1 as Irdai gives go-ahead

Ø  SBI workforce may see 10% reduction by 2019; hiring to fall by 50%: MD

Business Line



Mint

Ø  Puzzolana eyes US acquisition

Ø  RPL share sale: RIL’s explanation for ₹447-cr ‘illegal gains’ made post-facto, says SEBI

Ø  GIC may be first PSU general insurer to launch IPO

Ø  Emami Infra eyes London renovation contracts 

Ø  JSW Group to invest ₹7,000 crore in global port business over 3 years

Ø  CBEC rechristened Central Board of Indirect Taxes and Customs 



Ø  CAG to audit fallout of demonetisation

Ø  Hindustan Zinc plans solar power projects worth Rs425 crore by next year

Ø  Shriram Properties to invest Rs15,000 cr on realty projects

Ø  Bank union protests RBI decision to keep branches open next week

Ø  BERC approves 55% power tariff hike in Bihar

Financial Express



Financial Chronicle

Ø  At 23rd spot, HDFC Bank MD Aditya Puri beats Facebook's Mark Zuckerberg in Barron's 30 best CEO's list

Ø  Exchange of Rs 4,500 in old notes allowed in Nepal: RBI



Ø  FinMin, RBI working out new mechanism to tackle NPAs

Ø  Apple stays in hunt for duty sops in India

Ø  Dividend pressure on PSUs to meet disinvestment earnings gap

Ø  Govt plans big data research to boost exports

Ø  TVS Motor in line to achieve 18% market share in two years

Market Update

Sgx Nifty -43 pts
‎Dow -59.86 pts ,Nsdq +11.04 pts , S&P -1.98 pts , Bovespa +322 pts , Ftse -3 pts , Dax +24 pts  , Cac -11 pts , Nikkei -323 pts now , Crude @ $48.15 brl (+0.18), Brent @ $51.09 brl (+0.17) , Gold @ 1253.00 (+4.5), Silver @ $17.862 (+0.11), Euro @ $1.0847, JPY @ $110.4700, INR @ $65.403

Today's Corporate Action
27th Mar  Ex Date

COAL INDIA
Interim Dividend - Rs. - 1.1500
IBVENTURES
Interim Dividend - Rs. - 1.000
PTL
Spin Off

Today's Data Alert

Mar 27: TERM REPO: 15-day variable rate term repo for 205 bln rupees. Bids
to be submitted between 1100 and 1130 IST.

NIFTY BANK VIEW

Nifty Bank (20895)

Nifty Bank is in the range of 20700-20920 

There is a gap from 20967-20888 which is yet to be filled.

If nifty bank fills this gap and moves above 21150 uptrend can resume.

Below 20700 it opens for 20500..20400 zone.

NIFTY 50 VIEW

Nifty 50 (9086)

Nifty has hold 9000 bounce back zone and filled the gap of 9072-9087.

Now when nifty trades above 9100..9120 zone on closing basis uptrend can resume and it can show 9146.

But if faces resistance at 9100-9120 zone it can slide to 9020-9000.

MARKET UPDATE

Dow:20661.          -6         -0.03%

Nasdaq:5821       +27     +0.48%

S&P500:2348       +4       +0.19% 

VIX :12.81         +0.34     +2.73%

Nikkei:19071      +29      +0.16%

Infy:+0.77%,              Wit:+1.20%

Ttm: -0.59%,             Rdy:+1.35%

Hdb:+0.57%,              Ibn: -0.12% 

SBID:+0.00%,         RIGD:+0.39%

Us/Inr: $65.42.         Eu/Us:1.07

DIX: 99.75,              JPY: 111.26

Gold:$1247,         Silver: $17.53

Oil: $48.36,           Brent: $50.94

US10-YR : 2.407%   +0.011

SGX Nifty: 9077.50   +27.50

Economic Times

Business Standard

Ø  Vodafone-Idea merger may cost 23% more than the agreed price

Ø  RBI puts IDBI, IOB, UCO and another PSB under watch

Ø  Net forex reserves increase by $14.2 billion

Ø  Airtel signs definitive pact to buy Tikona Digital 

Ø  State-run IOC, HPCL, BPCL announce dividends

Ø  Foreign investors get tax relief on fund transfer

Ø  Tata Consultancy plans to step up local hiring in US



Ø  Q3 current account deficit flat at 1.4%

Ø  India receives $235 billion in remittances in 3.1/2 years

Ø  Concentrated portfolio of bank ETFs under Sebi lens

Ø  Reliance Infratel gets CCI nod for selling tower unit to Brookfield

Ø  IFC to invest in IL&FS Trust-controlled PI Ventures 

Ø  Cairn dispute: Centre says tax rows can't be settled in global arbitration

Ø  Gujarat NRE Coke files for bankruptcy

Business Line



Mint

Ø  NSE group’s IISL launches corporate bond indices

Ø  Coal imports down by 2.59 per cent 

Ø  BSE, NSE to launch F&O series in 15 cos from Mar 31

Ø  ‘Reliance, Adani keen on large-scale power projects in Bangladesh’

Ø  Package for powerloom sector on April 1: Irani

Ø  REC to provide Rs 4,650 cr financial assistance to DVC 



Ø  Cabinet clears extension of oil, gas production pacts signed before 1999

Ø  Yes Bank revives QIP, to raise up to $750 million

Ø  Cement prices likely to rise on back of higher demand

Ø  Ballarpur Industries debt crisis deepens as imports rise

Ø  Snapdeal in talks with Flipkart, Paytm for a potential sale

Ø  Green ministry rescues tree fern species, rejects NMDC clearance in Chhattisgarh

Financial Express



Financial Chronicle

Ø  EPFO to consider investments of up to 15% in ETFs on Mar 30

Ø  Fund mop-up via BSE's e-book debt platform hits Rs 2 lakh crore

Ø  SBI Chief Arundhati Bhattacharya among Fortune’s 50 greatest leaders of the world

Ø  Share issuance to unlisted companies: Sebi provides pricing clarity



Ø  Sebi makes annual accs public; income surplus up 75% in FY16

Ø  Sensex rebounds 164 pts on global cues; ends 3-day losing run

Ø  Emami Cement commissions grinding plant

Ø  Centre rules out farm loan waivers

Ø  NTPC may buy out SJVNL

Ø  TVS Motor in line to achieve 18% market share in two years

Nifty 50 (9030)

Nifty has made an inverted hammer with a gap an island formation which says selling can takeover in market.

9010..9000 is a support zone in short term charts.
 
Below this zone nifty can slide to 8930-8960-8990 can be a small hurdle to break.

Nifty if trades and maintains with closing above 9074-9090 only uptrend can resume.
 
Until than sell on rise should be the strategy.

Market Update

Sgx Nifty +32 pts
‎Dow -6.71 pts ,Nsdq +27.82 pts , S&P +4.43 pts , Bovespa +540 pts , Ftse -53 pts , Dax -58 pts  , Cac -7 pts , Nikkei -6 pts , Crude @ $48.23 brl (+0.19), Brent @ $50.73 brl (-0.01) , Gold @ 1246.75 (-2.95), Silver @ $17.535 (-0.04), Euro @ $1.0791, JPY @ $111.3900, INR @ $65.377





Today's Corporate Action
23rd Mar  Ex Date



AJANTPHARM
Interim Dividend - Rs. - 7.0000
ASAHISONG
Interim Dividend - Rs. - 3.0000
AUDICH
Interim Dividend - Rs. - 3.5000
ENGINERSIN
Interim Dividend - Rs. - 2.5000
NILE
Interim Dividend - Rs. - 3.0000
VERONICAPRO
Consolidation of Shares

Economic Times

Business Standard

Ø  Trai dismisses telecom panel's claims on tariffs

Ø  American varsities' funds betting on Indian stocks

Ø  Avail PMGKY or face action: I-T warns defaulters

Ø  Telecom sector may rationalise in 2018: Fitch Ratings

Ø  Hindustan Zinc okays special dividend of Rs 14K cr

Ø  UK's car exports to India grow 11-fold, JLR tops list

Ø  9.29L didn't respond to I-T queries: Arun Jaitley

Ø  DLF completes restructuring of JVs with Blackstone



Ø  World Bank, IMF to assess Sebi's regulatory framework

Ø  State oil refiners reap benefits of unrevised retail prices

Ø  Axis Bank to raise $16.2 million via bonds

Ø  ONGC seeks natural gas price review; wants floor rate fixed at $4.2

Ø  Govt could exceed revised tax target of Rs 17 lakh cr in FY17: Jaitley

Ø  MCX eyes agri commodities segment with a slew of new products

Ø  NTPC pays Rs 2,152-crore interim dividend for FY'17

Business Line



Mint

Ø  GDP growth may slowdown to 6.7% in Jan-March quarter: Nomura

Ø  `No plan yet to give telcos an option to buy spectrum annually’

Ø  Muthoot, Ujjivan, Equitas, Suzlon to enter F&O segment

Ø  MSME classification may soon be based on employment, turnover

Ø  Govt considering imposing import duty on wheat: Agri Secy

Ø  After many years, Centre on course to meet disinvestment target



Ø  EPFO cuts administrative charges to 0.65%

Ø  HDFC to raise Rs1,498 crore to shore up long term capital

Ø  Hudco gets Sebi approval to float IPO

Ø  Snapdeal in talks with Flipkart, Paytm for a potential sale

Ø  Govt likely to sell Axis Bank, ITC, L&T shares in ETF

Ø  Brookfield, ATC vying for Idea and Vodafone’s tower assets

Ø  Shankara Building IPO subscribed 51% on Day 1

Financial Express



Financial Chronicle

Ø  Cabinet approves policy for extending oilfield contracts

Ø  Glittery gold climbs Rs 300 on global cues, jewellers' buying

Ø  IIFCL awaits regulation from RBI for credit enhancement agency

Ø  Government approves Rs 6,721 cr National Highway projects in Meghalaya, Mizoram



Ø  Sensex tanks 318 pts, Nifty slumps below 9100 on global clues

Ø  Trying to implement GST from July 1, says Jaitley

Ø  Govt plans single window online system for global trade info

Ø  Govt mulls selling more Suuti holdings in Axis, ITC and L&T

NIFTY BANK VIEW

Nifty bank (21019)

Nifty bank has completed three soldiers pattern yesterday and had touched the support of 20980 as mentioned yesterday.

Now when it trades above 21100..21150, it can resume uptrend.

Below 20960 it can fill the gap till 20876.

NIFTY 50 VIEW

Nifty 50( 9121)

Nifty in the last hour showed good momentum from the support zone and rose upto 9131.

Now when nifty trades above 9150 it can catch the momentum again to move towards 9200.

If maintains below 9070..9060 can slide to 9000

Business Standard

Ø  Carlyle frontrunner to buy 26% stake in SBI Cards

Ø  HUL, P&G, Nirma lose market share to local brands

Ø  'India to be 3rd-largest consumer economy by 2025'

Ø  Sebi likely to review consolidated results of firms

Ø  US current account shrinks in fourth quarter

Ø  Deal conclusion challenge for Idea-Voda: Experts

Ø  Govt gives go ahead for 18 new airports for Rs 30,000 cr


Ø  Cash transactions proposed to be capped at Rs 2 lakh

Ø  SBI merger impact: 47% of associate banks' offices to shut down

Ø  D-Mart shares double on listing; founder Damani leapfrogs in rich list

Ø  Hindalco to set up Rs 150 crore solar park in Odisha

Ø  Idea-Vodafone merger: $23-bn telecom deal leaves bankers in cold

Ø  Steel firms mull Rs 1,000 a tonne hike from April


 Mint

Ø  Nettle Infra to buy 21.6% stake in Bharti Infratel for Rs. 12,400 cr

Ø  ‘Operational costs of petro products will rise under GST’

Ø  Rupee rallies to 17-month high, up 6 paise at 65.30 

Ø  Govt mulls 100% FDI in insurance broking 

Ø  US FDA comment spooks Dr Reddy’s, Divi’s Labs stocks 

Ø  Jubilant Life Sciences likely to buy speciality pharma biz in US


Ø  SBI to tap overseas bond market again, eyes $1.5 billion in dollar debt

Ø  Vodafone’s Indian escape act is heavy on the contortions

Ø  Sahara case: SC refuses to extend deadline to deposit Rs5,092.64 crore with Sebi

Ø  Adani Enterprises acquires Adani Infra

Ø  Paytm launches e-wallet insurance

Ø  18 foreign lenders of Jindal Steel and Power agree to $550 million debt restructuring


Financial Chronicle

Ø  India working with 15 nations for cooperation on cyber crime

Ø  Infosys, Tech Mahindra change strategy on H1B visas before new Trump policies are implemented

Ø  CL Educate IPO subscribed 77 per cent on second day

Ø  Over 82K crore spent on military hardware from foreign vendors


Ø  Distress sale of wheat in MP and Gujarat

Ø  Oil explorers’ lease could be extended by 4 years

Ø  SC to Sahara: Pay up or we will auction Aamby Valley

Ø  AI asks banks to align lending rate with MCLR