Thursday, 18 January 2018

Market Live: Live Commodity Tips,Share Market Tips Sensex #Nifty By TradeIndia Research- 18-01-2018

Market Live: Banks lift Sensex over 300 pts; Mindtree jumps 8% post Q3 nos


Nifty Bank rallied nearly 600 points to hit a fresh record high after sources told CNBC-TV18 that the government is considering allowing 100 percent FDI in banking sector.

Software products firm, Newgen’s initial public offering (IPO) was oversubscribed over 1 times on Thursday, the last day of the issue. The issue was subscribed 70 percent on Wednesday.

The IPO, which aims to raise Rs 425 crore, received bids for 1.34 crore shares against the total issue size of over 1.22 crore scrips, data available with the NSE as of 11 am showed on Thursday.
The company had raised over Rs 127 crore from anchor investors on Monday.
 Budget Expectations: In the run up to the budget, retailers have asked the government to simplify GST system and grant industry status to the sector for easier access to finance and attract more investments.
Besides, the industry is also seeking relaxed FDI regime for multi-brand retail trade (MBRT) as also incentives to be provided for setting up warehousing and cold-chain storage facilities.
In a pre-budget wish list, the Retailers Association of India (RAI) said invoices issued to BTC (bank transfer compliant) consumers must be simplified and the need for manual signature and multiple copies to get GST refund must be removed.
Market Update: Bulls retained their charge on Dalal Street as the market continued to trade around record highs, with the Sensex rising more than 350 points.
Nifty Bank index zoomed 500 points on buzz of allowing 100 percent FDI in banking sector.
Mindtree surged 8 percent after stellar Q3 earnings performance. Morgan Stanley upgraded the stock to overweight on improving macro & execution, and raised target price by 33 percent.

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1 comment:

  1. Market highlights - The Nifty Bank index gained 500 points due to allowing 100 percent FDI in banking sector. In the market about 1,493 shares advanced against 850 declining shares on the BSE.
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