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Benchmark indices were trading higher in the afternoon trade, with the Sensex rising over 100 points, while the Nifty is trading above the 10,450 mark led by PSU Banks and metals stocks. At 3:14 PM, the BSE Sensex was trading at 33,961, up 168 points, while the Nifty50 was ruling at 10,500, up 56 points. Veer Energy and Infrastructure stock jumped 7.5% as the company has bagged order for 2,000 KW solar rooftop in Sanand, Gujarat. BSE Metal Index soared during Thursday’s trade. The index was trading at 15,450 level, up by 293 points or 1.9%. Tata Steel was the top gaining stock in the index, higher by 2.9% at Rs755 per share on BSE. The Metal Index gained on the back of upbeat commodity prices. On the economy front, the Indian service sector returned to marginal growth in the month of December. Services Purchasing Managers' Index or PMI stood at 50.9 for the month. The BSE Mid-cap and BSE Small-cap in dices were up 0.48% and 0.80%, respectively. Volatility index Indi

The central government has sought Parliament's nod for $12.6 billion Bank Recap Bonds. This is a follow up of a mega recapitalisation plan that was announced by the government in October 2017 to counter the rising bad loans of public sector banks. The plan is worth Rs2.11 lakh cr out of which Rs1,35,00cr will be in the form of recapitalisation bonds. The ratification for recapitalization bonds would act significantly positive for the PSU Banks and the stocks would remain positive on this news. The capital infusion is much needed as it would aid these banks to improve their capital adequacy. As a consequence, it would also improve their loan book growth for the coming years, besides giving room to provide for bad loans. Nifty PSU Bank Index has climbed over 1.5% after recap bond news. At the time of filing, IDBI Bank was up 6%, BoB, PNB were up by 3% each, Bank of India, Canara Bank were up 2% each, and SBI was up 1.5%.

Buoyed by a positive trend across most sectors and continued rally in metal stocks, domestic share indices started the session on a positive note.  the BSE Sensex was trading at 33,850, up 56 points, while the Nifty50 was ruling at 10,455, up 11 points. Metal stocks continued to gain on the back of rising global commodity prices. The Nifty Metal Index rose 0.5% in early trade, led by over 1% gains in shares of Vedanta and Welspun Corp. Shares of Tata Motors, which fell 1%, were the worst hit on Nifty50 as the company reported a 9.4% on-year fall in Jaguar Land Rover sales in the US to 11,394 units for December. Shares of SJVN soared over 15% to a lifetime high after the company said its board will meet on Monday to consider a proposal to buyback its fully-paid up equity shares. Barring the Nifty Auto Index, which fell 0.2% all other sectoral indices were 0.1-0.6% higher in early trade. The BSE Mid-cap and BSE Small-cap indices were up 0.60% and 0.41%, respectively. Vola

wwww.thegrssolution.com Precious Metals are struggling to rally further as the market awaits the minutes of the December FED meeting. Gold futures are trading at 29230, up 68 points and Silver is at 39210, up 30 points currently. The 10-day rally in precious metals which saw both Gold and Silver gain by over 4 percent seems to be faltering as the market awaits the minutes from the December meeting to dissect the central bank’s plan on rate hikes in 2018. The US economy has strengthened significantly despite the stubbornly low inflation and struggling labour market but the FED members maintain their view that the economy warrants three rates hikes in the current year to keep the economy chugging at its current pace. The close above resistance at $1300 bodes well for prices and the short-term outlook is now positive but we expect prices to make another dip to $1300 before the second leg of the upside rally begins. On the lower side, a daily close below $1300 could see Gold come unde

Trading is the largest decentralized financial market in the world. The rapid development of this market has a trade volume of more than three trillion dollars a day. Foreign Exchange, often abbreviated as Forex, or even simpler FX, is a unique world money market where currency exchanges every day. For those who like to invest and manage themselves with their money, avoiding brokers who often take large commissions and often show insufficient professionalism in their profession, this is an ideal place to invest. The commodity goods, which they are selling, are the foreign currency of various countries. Money can be traded with other world currencies, but also with gold, silver and platinum, i.e. value metals, and some trading platforms are available to customers and trading with oil. With global development and the capillary spread of the Internet, and especially since the introduction of ADSL technology, Forex became more accessible and gave an additional boost to market developmen

NBCC secured Rs314.8cr business orders in December, which included a contract for construction of border fence and road along Indo-Bangladesh border in Meghalaya amounting Rs215.77cr at a PMC fees of 7%. Tata Motors JLR U.S. sales down 9% year-on-year to 11,394 units in Decembers 2017. For the full year 2017, JLR U.S. sales reached 114,333 units, up 9% year-on-year. Ashish Kacholia bought 10 lakh shares or 0.7% stake in Navkar Corporation on Wednesday, bulk deal data on the NSE website showed. Kacholia bought the shares at Rs187 apiece. SJVN has announced a share buyback proposal. The board will consider the proposal on January 8. HDFC Ltd said its third quarter profit on the sale of investments stood at Rs5,270cr compared to Rs3cr a year ago. Bank of Maharashtra to raise Rs650cr by way of preferential allotment to GOI. HPCL says ONGC may pay Rs45,000cr (45% premium to market cap) for company's stake. The Board of Bank of India at its meeting held on January 3, has ap

                                                                                                                                                                     Major Asian markets are trading in the green at present. Shanghai Composite is up 0.33%, Hang Seng  is up 0.24 %, while the Nikkei is trading 2.41% higher. US markets: Stocks moved mostly higher during yesterday's trade. The major averages finished the day firmly in positive territory with Dow and Nasdaq closing at record highs. The Dow rose 0.4% to 24,922.68, the Nasdaq advanced 0.8% to 7,065.53 and the S&P 500 climbed 0.6% to 2,713.06.The continued strength on Wall Street came as upbeat data added to recent optimism about the economic outlook. A report released by the Institute for Supply Management showed growth in manufacturing activity surprisingly accelerated in the month of December. European markets closed in the green yesterday with FTSE up 0.30%, CAX up 0.80% and DAX up 0.82%.  In yesterday’

The country's foreign exchange reserves surged by $ 3.53 billion to touch a new lifetime high of $ 404.921 billion in the week to December 22, aided by an increase in foreign currency assets, as per RBI data. Overall forex reserves rose to $ 404.92 billion from $ 401.38 billion reported for the week ended December 15. The country's gold reserves value rose by $ 12.6 million to $ 20.71 billion, while SDRs inched up by $ 1.8 million to $ 1.50 billion. However, the country's reserve position with the IMF declined by $ 252.2 million to $ 2.02 billion

Oil prices were stable on Wednesday, not far off mid-2015 highs reached the previous session, as strong demand and ongoing efforts led by OPEC and Russia to curb production tightened the market. U.S. West Texas Intermediate (WTI) crude futures were at $60.40 a barrel at 0141 GMT, up 3 cents from their last close, and not far off the $60.74 June 2015 high reached the previous day.    Brent crude futures - the international benchmark for oil prices - were at $66.55 a barrel, down 2 cents but still not far off the $67.29 May 2015 high from the previous day. Despite this, there were indicators that markets had overshot in the last days of 2017 and trading this year, as U.S. production is set to rise further and doubts are emerging about whether demand growth can continue at current levels. Ole Hansen, head of commodity strategy at Denmark's Saxo Bank warned that "multiple but temporary supply disruptions" like the North Sea Forties and Libyan pipeline outages (and)

Equity benchmarks have witnessed a positive start on Wednesday, with the Sensex rising over 100 points, while the Nifty was above 10,450-mark. the Sensex is up 135.66 points or 0.40% at 33947.92, and the Nifty up 40.30 points or 0.39% at 10482.50. The market breadth is healthy as 601 shares have advanced against a decline of 172 shares, while 504 shares are unchanged. Midcaps were trading in the positive zone after it fell around one percent on Tuesday. Reliance Industries and ICICI Bank are the top gainers, while Dr Reddy’s Labs, ONGC and Aurobindo Pharma have lost the most. The Indian rupee slipped in the early trade on Wednesday. It has opened lower by 7 paise at 63.55 per dollar versus 63.48 yesterday. Pramit Brahmbhatt of Veracity said, "Rupee will continue its northward journey on the back of sudden FII inflow. Thus trading range for the spot USD-INR will be 63.30-63.60." The dollar near 3-month low, weighed down by expectations of a slower pace of

Global markets Major Asian markets are trading in the green at present. Shanghai Composite is up 0.67%, Hang Seng is up 0.49 %, Kospi is also trading  0.33% higher. US markets: US stocks kicked off 2018 on a positive note. The S&P 500 and Nasdaq ended at record closing highs with Nasdaq ending above 7,000 for the first time. The Dow Jones Industrial Average rose 0.4%, to 24,824. The S&P 500 rose 0.8%, to 2,696 while the Nasdaq Composite Index closed at 7,007 up 1.5%. Energy and technology stocks were the major outperformers. European markets closed in the red yesterday with FTSE down 0.52%, CAX down 0.45% and DAX down 0.36%.  FII Data:  In yesterday’s session, FII’s bought 522 crores stock in the cash market, whereas DII’s bought 64 crores worth of stocks. In the derivative market, FII’s sold 1,030 crores of Index futures and bought 1,544 crores worth of Index options. In the Stock futures segment, FII’s sold 415 crores worth of stock futures and bought 18 crores stock

Union Budget 2018-19 will be the first post-GST budget of India. It is also the last full budget before the 2019 general elections and will most likely be presented on 1st February 2018 by Finance Minister Arun Jaitley. The budget session is expected to begin on 30th January 2018; President Ram Nath Kovind will address the joint session of both the houses. The Economic Survey would be tabled on 31st January. This will be the fifth budget presentation in a row for Arun Jaitley. After the budget-2017, which was referred as mediocre, this will be the last full budget of Modi-led NDA government for this term. Different sectors have high expectations for the much touted economic reforms. Let’s take a quick look at what can be expected from this new budget- Tax Structure- This year, the indirect tax structure of the country was given a facelift with the new Goods and Services Tax (GST) regime. And in Union Budget 2018, we can expect changes in the direct tax structure including income tax

The Indian manufacturing sector ended the year on a strong note, with operating conditions improving at the strongest rate in five years. The overall upturn was supported by the sharpest increase in output and new orders since December 2012 and October 2016, respectively. At 54.7 in December, the Nikkei India Manufacturing Purchasing Managers’ Index (PMI) rose from 52.6 in November. This was consistent with the strongest improvement in the health of the sector since December 2012. Notably, the PMI reading was slightly stronger than the average 54 recorded since the inception of the survey in March 2005. At the broad market group level, growth was recorded across all three monitored categories (consumer, intermediate and investment). The upward movement in the headline index was driven by a sharp increase in output. Furthermore, the rate of expansion quickened to the strongest since December 2012. Higher order book volumes and improved underlying demand conditions reportedly contribu