NIFTY tames 8450 level where it opened on a flat note at 8407 touched day’s high at 8480 pts and closed above 8400 level at 8476 points gaining 84 odd points. The markets remained positive throughout the day due to F&O expiry in the end of January. Major sectors gained substantially well except IT stocks which was under huge selling pressure.
The Nifty charts showcased Bullish belt hold candle where bulls pushed the market positive with raising prices throughout the day. Experts say that market would remain volatile with upcoming budget and new economic policies of Trump.There were 1518 shares which advanced along with 1058 shares declined.
HCL, HDFC,L&T RELEASED ITS Q3 RESULTS WITH MIXED GAINS & LOSSES:
HCL today released its quarter results which registered profit of 2.3% at 2062 crore. The revenue was up by 1.3% at Rs.1745 million with FY17 dollar revenue growth making it one of the active stocks today losing down 2% post release of quarter results. While HDFC, L&T made gained more than a percentage after better than expected earnings in december end
GLOBAL MARKETS REMAIN INTACT WITH FRESH ECONOMIC DATA AND REPORTS:
European markets was at higher note and with positive prices due to initiatives of new economic policies and data along with earning reports of multiple companies with dollar strengthening at a marginal rate.
Asian markets were neutral and showed a mixed market movement despite uncertainty over Trump’s policies and a withdrawal from Trans pacific deal.
TRUMP’S TPP DEAL TO IMPEL GLOBAL RECESSION STRESSING ON ONE-ONE TRADE:
Trump’s Trans pacific partnership deal to bring additional billions of dollar to world trade with a free trade agreement in order to boost exports, economic growth and create more new employment opportunities. Trump stresses that US to have cut dominance of China in Asia pacific region and induces to have one-one individual trade agreement between countries.
EXPECTATIONS FROM FM REINFORCING THE BUDGET TO BE MAKE OR BREAK SITUATION:
Jaitley may set disinvestment target at about Rs.60000 crore selling equity in state owned companies, where Govt tends to earn extra revenues through stste controlled companies’ dividends in order to leverage growth in assets of PSEs for generating new investments in upcoming projects.
GST TO BE IN LIMELIGHT BEYOND BUDGET PRESUMPTIONS AND ITS IMPACT:
Experts say that GST to be considered as the most important factor where any change in long term capital gains exemptions for equities to be looked upon as there are surmises related to tax schemes and implementations considering customer propensity.
SEBI SERMONIZES FOR TAX VINDICATION IN CAPITAL MARKETS:
SEBI rationalizes tax exemptions reiterated Govt to consider the decision to rationalize including mutual funds and reduces Security transaction tax on stock trading in order to reduce the holding period for offsetting long term debt fund units to 12 months from 36 months for mousetrapping more investors.
