Stock Market Update; Nifty Opens above 8550

Sensex up over 100 pts, Nifty opens above 8550 on GST boost. For more information visit www.marketmagnify.com/freetrial.php  & give a missed call @ 78-79-88-11-22.

• The Sensex is up 131.39 points or 0.5 percent at 27828.90, and the Nifty up 40.55 points or 0.5 percent at 8585.40. About 707 shares have advanced, 125 shares declined, and 21 shares are unchanged.
• Tata Motors, ONGC, Hero, BHEL and Maruti are top gainers while Lupin, Bharti Airtel, Infosys and HDFC Bank are losers in the Sensex.
  The Indian rupee opened higher by 14 paise at 66.85 per dollar versus 66.99 Wednesday.
• World Economic Forum, will host its annual India Economic Summit here on October 6-7 which would be attended by over 500 business and political leaders including top policymakers and CEOs.
• BSE receives 110 investor complaints in July, fixes 103
• Leading stock exchange BSE said it received 110 complaints against 96 companies in July this year. During the period, the stock exchange resolved 103 grievances against 82 listed companies, according to a release. The resolved complaints include those brought forward from the previous period.

Smartphones lift Samsung Electronics to Best Profit in Over 2yrs

Equity benchmarks opened on a flat note amid mixed Asian cues. The Sensex was up 35.97 points at 27202.84, and the Nifty gained 6.05 points at 8342. For more information visit www.marketmagnify.com/stock-option.php

       About 176 shares have advanced, 65 shares declined, and 19 shares are unchanged.

Bharti Airtel and Dr Reddy's Labs gained over a percent followed by ITC, HDFC, SBI, L&T and HUL while Infosys, HDFC Bank, TCS, Bajaj Auto, Reliance Industries and NTPC declined.

      Punjab National Bank climbed over 3 percent as its subsidiary housing finance company has received approval for listing IPO from National Stock Exchange and Bombay Stock Exchange.

           The Chinese government's call to the nation to build an innovation-driven economy from the top down has sparked a rush by local governments to construct new buildings in the name of supporting creativity.

     Quality PSU banks a must-have in a portfolio: Quantum Securities In the light of the boost given by the government in the infrastructure space, companies in cement and steel are looking good, said Sanjay Dutt of Quantum Securities. "Infrastructure is a space where you have to remain invested.

      Max Financial Services Ltd has informed BSE that Mr. Sandeep Pathak has joined the Company as Company Secretary and Compliance Officer of the Company effective July 05, 2016.Source : BSE
            Kalpataru Power Transmission Ltd has informed BSE that Kalpataru Power Transmission Ltd, a leading global EPC player in the power & infrastructure contracting sector has secured new orders/notification exceeding Rs 1900 crores.Source : BSE

      Tech giant Samsung Electronics Co Ltd said on Thursday its second-quarter operating profit likely rose 17.4 percent from a year earlier, its highest in more than 2 years as Galaxy S7 smartphone sales propelled mobile earnings.

     The world's top maker of smartphones and memory chips said its April-June profit was likely 8.1 trillion won (USD7 billion), better than the average forecast of 7.8 trillion won tipped by a Thomson Reuters survey of 16 analysts. It was the highest since a 8.5 trillion won profit in the first quarter of 2014.

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. 

Stock Cash News By MarketMagnify

Sensex, Nifty open in red; Infosys down, ONGC & Bharti gainers.  For more information visit www.marketmagnify.com/stock-cash-tips.php

     The market has opened in red on Thursday. The Sensex is down 75.70 points or 0.3 percent at 26944.96, and the Nifty is down 19.45 points or 0.2 percent at 8253.60. About 474 shares have advanced, 241 shares declined, and 34 shares are unchanged.
       ONGC, NTPC, Bharti Airtel, Reliance and Tata Motors are gainers while Lupin, Infosys, Dr Reddy's, Asian Paints and HUL are losers in the Sensex.

         Tata Group entities, including Tata Sons, Jaguar Land Rover and TCS , will provide a funding of 5.6 million pounds (around Rs 56 crore) to the Royal Society's University Research Fellowships (URF) scheme   in the UK.

       Expect rupee to appreciate marginally due to increase in capital flows and trade in the range of 66.50- 66.75/dollar, says Ashutosh Khajuria of Federal Bank.

           Analysing HUL's annual report, CLSA says that despite a 49 percent annual rise in capex, free cash flow (FCF) increased 16 percent. As per its estimates, HUL may see over 20 percent CAGR in FCF in FY16-19.

          UB Pravin Rao, COO, Infosys is confident on achieving FY17 revenue growth guidance of 11.5-13.5 percent for next few years.