Today's Stock Market Update

Sensex, Nifty under pressure in early trade; HPCL, NTPC fall. For more information visit www.marketmagnify.com/freetrial.php & give missed call @ 78-79-88-11-22.

• The market was marginally lower in early trade with the Sensex struggling below 28000 level amid consolidation. Investors waited for speech by the Federal Reserve Chief Janet Yellen at Jackson Hole.
• HDFC, Reliance Industries, L&T, Lupin and Sun Pharma were under pressure whereas Infosys, Asian Paints, Adani Ports, TCS and Wipro gained.
• The Indian rupee has opened higher by 7 paise at 67.12 per dollar against previous close of 67.19 a dollar.
• Sitharaman convenes meeting of industry bodies on IPR today
• The associations which would participate include CII, Ficci, PHDCCI, International Trademark Association, Laghu Udyog Bharati, Film and Television Producers Guild of India and Indian Motion Pictures' Producers Association.
• UK to strengthen trade, business relations with India
• India is the second largest investor in London and India is on the top of the list for the partnership with UK. Our relation with India is already firm and we will continue to strengthen it," he said.

Live Gold Market Update

Gold was in the trading session ending Thursday. Yellow metal closed at Rs 31210 per 10 grams, down 0.34%. The yellow metal support levels are at Rs 31100 and 31150 per 10 grams. On the higher side Rs 31400 and 31420 per 10 grams are the cap to watch out for. Gold tested a high of Rs 31290 per 10 grams and Rs 31131 per 10 grams as low. For more information visit www.marketmagnify.com/freetrial.php

       Gold held on to its overnight gains in Asian trade on Friday and was headed for its fifth

straight weekly gain, as a recovery in equity markets post the Brexit vote was offset by a weaker dollar.

       The prices of Copper moved forward though weekend trades are expected to bring declines due to profit booking. MCX Copper closed last session trades at Rs 330.65 per kg up 0.70%. The highs for Copper was at Rs 332.15 per kg while low is at Rs 328.05 per kg. China is the world's largest copper consumer, accounting for 45% of global demand.

       Crude futures retreated from two-week highs on Wednesday, amid heavy profit taking, but still ended the second quarter with one of its strongest three-month rallies in seven years, amid a host of global supply disruptions in recent weeks.

       MCX offers more than 40 commodities across various segments such as bullion, ferrous and non-ferrous metals, energy, weather and a number of agri-commodities on its platform.
      Asian stocks rose on Friday as riskier assets continued to recover from the Brexit shock, while the pound came under renewed pressure after the Bank of England's governor hinted of an interest rate cut ahead. 

Leave or Remain: Britain votes on EU membership today

World leaders all the way from US President Barack Obama to Indian Prime Minister Narendra Modi, and not least the leaders of European countries, want Britain to remain in the European Union (EU). For more update visit www.marketmagnify.com/stock-cash-tips.php & Give a missed call @ 78-79-88-11-22.

           Brexit: Which Indian IT cos may gain or fall on EU referendum
 Bank of America Merrill Lynch feels that Brexit may create recession risks that could hurt IT demand further hurting 10-14 percent revenue growth for the UK businesses of the Indian IT companies in FY17.
              Brexit fears are totally overblown: Jim Cramer

Jim Cramer's jaw dropped to the floor by how overblown Brexit fears are when he read the op-ed by Matt Ridley in the Wall Street Journal entitled "The Business Case for Brexit.

             The Brexit conundrum: To be or not to be

 There's been a lot of talk around whether or not Britons will vote to stay in the European Union. Brexit, as it is called, will have repercussions on the UK, the EU as well as emerging markets like India. The referendum is set for June 23. Here is a look at how it would play out and what impact, if any, it would have on countries and currencies.
                Brexit will mean risk-off in EMs; India could be hurt too: LGM

The biggest casualty of a ‘leave’ vote would be the pound and the UK stock market which could fall as much as 5-10 percent feels Chowdhry

                 Lupin gets USFDA nod for fungal infection drug

Company's US subsidiary Gavis Pharmaceuticals LLC has received final approvals to market "its Voriconazole tablets, 50 mg & 200 mg and Voriconazole Oral Suspension, 40 mg/mL from the United States Food and Drug Administration (FDA)," Lupin said in a filing to BSE
                KEC International gains 7% on order win worth Rs 1036 crore

The company's transmission and distribution business has received an order worth Rs 666 crore in    

                    Drug to treat eye disease won't hit mkt before 2-3 yrs: Biocon

Early trials have indicated a positive data for the drug QPI-1007 to treat nonarteritic anterior ischemic optic neuropathy (NAION), says Kiran Mazumdar Shaw, CMD of Boicon.