Friday, September 29, 2017

Free Nifty Future Tips;sensex-rises-100-pts-nifty50-reclaims-9800-hcc-surges-7-gail-6



Sensex rises 100 pts, Nifty50 reclaims 9,800; HCC surges 7%, GAIL 6%
Free Nifty Future TipsBenchmark indices opened on positive note on Friday after rupee snapped its losing streak and US stocks ended higher in overnight trade. Hopes that inflows from domestic institutions would take care of the market amid rising foreign outflows too added to the sentiment.

At 9.23 am, the BSE Sensex was trading 127 points, or 0.40 per cent, higher at 31,409. The midcap and smallcap indices were trading up to 0.8 per cent higher. The Nifty50 was ruling at 9,812.85, up 44 points, or 0.45 per cent. 

Market-wide rollovers for the September series stood at 80 per cent, which was higher than average rollovers of 78 per cent seen in last three series. Nifty rollovers at 70 per cent were slightly higher than 66 per cent, the average for last three month rollovers. 

"What has caught the Street in a bind has been the intensity of the recent sharp sell-off. But we expect Nifty to move towards 9,930, where it should face some resistance. Looking at the open interest surge and sharp expansion in roll levels towards the end, Nifty appears to be on course for a recovery," Edelweiss Securities said in a note. 

Among Sensex stocks Bajaj Auto gained 1.52 per cent to Rs 3,080.10 on BSE. Asian Paints, Maruti Suzuki and SBI advanced 1 per cent each.

On the flip side, Hindustan Unilever, Cipla, Reliance Industries and Dr Reddy'a Labs fell up to 0.7 per cent. 

Provisional data showed that domestic institutions bought shares worth Rs 5,197 crore on Thursday, while their foreign counterparts sold shares worth Rs 5,328 crore. While some market participants said the heightened activity by FIIs was on account of reversal of cash-futures arbitrage positions amid expiry of the September derivatives contracts, others said it was due to a bulk deals in some blue chips, ET said. The bulk deal data, however, did not reflect such activity.

On Friday, the rupee extended its gains for the second straight session and opened 16 paise higher at 65.34 against dollar.Asian shares tried to regain some poise on Friday after a tough week in which the gathering risk of a US rate rise lifted Treasury yields towards nine-year highs and boosted borrowing costs across the region, Reuters reported. MSCI’s broadest index of Asia-Pacific shares outside Japan inched up 0.1 per cent, but was still down a sizable 2.1 per cent for the week so far. Japan's Nikkei was off 0.1 per cent, though South Korea managed to recoup 0.4 per cent of gains.

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