Equity Benchmarks Strong Opening, Sensex Reclaims 28000 level

Stock Market started on a higher note in the morning trade on Friday. Benchmark indices are trading with fabulous leads. Sensex live at 28017 with 303 points hike and Nifty live at 8641 with 90 points lead. All the major sectors are trading in the positive zone. BSE Small Cap with 127 points hike live at 12255, BSE Midcap with 118 points hike live at 12605, Nifty Midcap currently on 14734 witk 139 points up and the Auto sector is leading of all with 244 points hike at 21253. Asian Market is trading mixed. Nikkei dropped 11 points to 16243, Hang Seng with 301 points up trading at 22134 and Shanghai Composite with 3 points down live at 2979 points. MCX and NCDEX market are showing the average movements. MCX Gold dropped 20 points to 31760 and Silver slided 127 points down to 47550. Crude Oil and Natural Gas with minor drop are trading at 2782 and 189 points respectively. Rmseed dropped 7 points to 4924, Soyabean had a minor drop of 2 points at 3628 and Cocudakl uplifted 9 points to 2547.

Sensex Nifty Started At Lower Note, Bullion Market Up

Stock Market started with a low note. Rupee Opened weak by 4 paise at 67.04 against US Dollar. The 50-share NSE Nifty started off August series on a flat note after yesterday's rally as investors eagerly awaited for GST Bill. Nifty is down by 16 points at 8650. The 30-share index BSE Sensex is down by 75 points to 28133. BSE Small Cap hikes 24 points at 12305, BSE Mid-Cap gains 67 points at 12640 and Nifty Mid Cap is up by 64 points to 14760. All the Global Indices are trading down. Nikkei is down by 116 points to 16359, Hang Seng is down by 182 points to 21991 and Shanghai Composite with minor loss of 2 points down by 2992. In Commodity Market, Gold and Silver are trading in the positive zone. Gold hiked 45 points to 31031 and Silver hiked 343 points to 47362. Natural Gas hiked 13 points to 194 and Crude Oil dropped 59 points to 2772. 

Automobile company Eicher Motors first quarter (April-June) consolidated earnings matched analysts' estimates on Thursday with profit growing sharply by 58.6 percent to Rs 376.3 crore, driven by strong revenue as well as operational performance in Royal Enfield business. Revenue increased 42 percent to Rs 1,555.7 crore in the quarter ended June 2016 compared with Rs 1,096 crore in year-ago period. The Bank of Japan (BOJ) has eased its monetary policy further today by expanding dollar lending programmed to USD 24 billion. The central bank kept deposit rate at -0.1 percent and said it will increase buying of exchange traded funds. Bank of Japan has lowered its real GDP growth forecast for the current fiscal year to 1 percent from earlier 1.2 percent but increased to 1.3 percent for next fiscal from earlier forecast of 0.1 percent.

Equity Market Updates @ Advices by Expert

After a consolidation, market closed marginally higher on Wednesday as traders remained cautious ahead of expiry of July derivative contracts & the outcome of Federal Reserve's two-day meeting. The Sensex rallied more than 200 points in morning trade on hopes of stimulus measures by Bank of Japan but turned volatile in afternoon trade, especially after correction in China's Shanghai on fears of regulatory changes. The Sensex was up 47.81 points at 28024.33 and the Nifty gained 25.15 points at 8615.80 .

Market participant will await US Fed comments for clues on policy direction on interest rates. The Fed has kept the benchmark fed funds rate unchanged after raising it for the first time in nearly a decade in December 2015.

Advices

Buy ADFFOODS above 116 targets 119 Stop Loss 114.

Sell BALPHARMA below 97 targets 94 stop loss 99