Research Infotech Update - Banks, Jobs Data Send Wall Street Higher

US stocks climbed on Friday, with the S&P 500 closing just short of a record high, boosted by gains in financial shares as President Donald Trump moved ahead with deregulation action and by a strong payrolls report. 
The S&P financial sector jumped 2 percent to score its best day since mid-November after Trump signed an executive order to scale back regulations in the industry that were implemented in the wake of the financial crisis, including the Dodd-Frank law.
JP Morgan Chase shares closed up 3.1 percent at USD 87.18 as the biggest boost to the S&P 500 and helped push the S&P bank index up 2.6 percent. 
The US public and private sectors created 227,000 jobs last month, according to the Labor Department, far more than the 175,000 economists had expected. 
The unemployment rate ticked up to 4.8 percent while average hourly wages grew only 0.1 percent, which is likely to keep the Federal Reserve on a gradual path to raise US interest rates. 
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Research Infotech Update - Wall Street Slips After Soft GDP Data

US Stocks edged lower for a second consecutive session on Friday as some underwhelming corporate earnings and gross domestic product data offset recent enthusiasm over policy actions by President Donald Trump. US economic growth slowed more than expected in the fourth quarter, with GDP rising at a 1.9 percent annual rate, below the 2.2 percent rise expected by economists and the 3.5 percent growth pace logged in the third quarter. Chevron fell 2.4 percent to USD 113.79 after its quarterly profit fell short of analysts' expectations. The stock was the biggest drag on the S&P 500 and the Dow Jones Industrial Average indexes. The S&P energy index , down 0.9 percent, was the worst performing of the 11 major S&P sectors.
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Sensex, Nifty maintain morning gains; Ajanta Pharma most active

Benchmark indices retained morning gains with the Nifty holding 8400 level ahead of expiry of January derivative contracts tomorrow and Union Budget that will be presented on February 1.

The 30-share BSE Sensex gained 128.68 points at 27246.02 and the 50-share NSE Nifty rose 45.30 points to 8436.80. The broader markets also gained half a percent on positive breadth.

About 1411 shares advanced against 925 declining shares on the exchange.

HCL Technologies was also in active stock list, down over a percent after reporting in line earnings and maintaining FY17 revenue guidance.

ICICI Bank, Yes Bank and Tata Communications were other most active shares.

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Research Infotech Morning Update : Nifty Above 8400, Sensex Firm; HCL Tech falls 2%, Bharti Down

The Market has opened flat with the Nifty above 8400. The 50-share is up 23.65 points or 0.3 percent at 8415.15 while the Sensex is up 73.91 points or 0.3 percent at 27191.25. GAIL, Adani Ports, HDFC Bank, L&T and SBI are top gainers while Bharti, HUL, Infosys, Asian Painrs and Wipro are losers in the Sensex. HCL Technologies is down 2 percent after it posted Q3 results. While retaining FY17 constant currency dollar revenue growth guidance at 12-14 percent, HCL Technologies said its third quarter profit grew by 2.3 percent sequentially to Rs 2,062 crore.
Rupee revenue during the quarter increased 2.6 percent quarter-on-quarter to Rs 11,814 crore and dollar revenue rose 1.3 percent to USD 1,745 million. The IT services provider expects its full year dollar revenue guidance at 10-12 percent while maintaining EBIT margin guidance of 19.5-20.5 percent.

The Indian rupee has opened higher by 12 paise at 68.08 per dollar on Tuesday against previous day's closing of 68.20 per dollar.More Information visit : www.researchinfotech.in and call : 8982890444

Sensex sinks over 250 pts, Nifty breaks 8350; ICICI, Axis drag

Benchmark indices extended losses in afternoon trade with the Nifty breaching 8350 ahead of inauguration speech of Donald Trump as US president later today, dragged by banks, technology and infra stocks.

The 30-share BSE Sensex was down 274.25 points or 1 percent at 27034.35 and the 50-share NSE Nifty plunged 84.35 points or 1 percent to 8350.75. The market breadth was negative as about two shares declined for every share rising on the BSE.

Axis Bank crashed nearly 7 percent after disappointing earnings in Q3, followed by ICICI Bank, L&T, Infosys, Adani Ports, SBI, Tata Motors and ONGC with 1-2 percent loss.

Adani Power was biggest midcap loser, down 11 percent after reporting huge loss of Rs 325.3 crore on weak operational performance and higher finance cost.

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Research Infotech Morning Bell - Sensex, Nifty Open Lower; Axis slips 5% on Q3

 The Market has opened cautiously lower head of US President-Elect Donald Trump’s inauguration later in the day.  The Sensex is down 106.48 points or 0.4 percent at 27202.12, and the Nifty down 27 points or 0.3 percent at 8408.10. About 359 shares have advanced, 418 shares declined, and 153 shares are unchanged. 

Asian markets slipped in morning trade as risk sentiment soured ahead of Trump’s event. The Nikkei and Hang Seng slipped 0.14 percent and 0.72 percent, respectively. Investors now await key data from China as it is set to announce its GDP, retail sales as well as industrial production figures on Friday. The US markets closed lower, with real estate falling around 1 percent, as investors eagerly awaited Trump's inauguration. The Dow Jones closed about 70 points lower, with Goldman Sachs contributing the most losses. The index also recorded a five-day losing streak. The S&P 500 and Nasdaq too lost 0.36 percent and 0.28 percent, respectively. 
Axis Bank, ICICI Bank, Tata Motors, Coal India and Asian Paints are top losers in the Sensex while GAIL, Cipla, SBI, Bharti and L&T are gainers. 
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Nifty hovers around 8400, Sensex firm; NTPC, Power Grid Surge

Benchmark indices maintained uptrend amid volatility in noon trade but broader markets continued to underperform. Banks, infra and select technology stocks gained while the selling continued in FMCG, healthcare and HDFC group stocks.

The 30-share BSE Sensex rose 81.40 points to 27221.81 and the 50-share NSE Nifty gained 19.10 points at 8399.75. The market breadth was negative as about 1332 shares declined against 1069 advancing shares on the BSE.

Power stocks were in limelight today. NTPC, Power Grid Corporation and Tata Power gained 3-4 percent.

L&T and Infosys were leading contributors to Sensex’s gains, up 2 percent each whereas ITC, HDFC, Sun Pharma, Lupin, Dr Reddy’s Labs, HUL and TCS were under pressure.

Asian Market Updates : 

Sensex

Price : 27,224.76 Today's change : +84.35 (0.31%) Open : 27,171.70 Close : 27,140.40

Nikkei

Price : 19,454.33 Today's change : -66.36 (-0.34%) Open : 19,393.60 Prev Close : 19,520.70

Hang Seng

Price : 22,802.38 Today's change : -132.97 (-0.58%) Open : 22,956.40 Prev Close : 22,935.30

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