Stock Market News|Tips in India Today|Bank Nifty Tips

JACKPOT CALL TODAY : 

Buy Rel Capital at 448 Stop Loss 443 Target 456.

Major Results Today:

Arvind, Castrol India, Hero MotoCorp, JP Power, Lupin, Rolta India, Sterlite Inds, United Phosp, Yes Bank

Bank Nifty Trading Levels:

Pivot-11549,S1-11478, S2-11349, S3-11278, R1-11678, R2-11748, R3-11873

Rupee Update :-

Rupee edges higher; shares eyed : The rupee rises further to 53.37/38 versus its previous close of 53.47/48. There is strong resistance for the USD/INR pair around the 200 day moving average of 53.20, which would hold the pair in a 53.20 to 53.60 range initially, traders say.

News Update: 

• Sensex is down around 31 points in opening trade; 20 components are in red
• Sensex erases losses, rallies 111 pts
• India cuts tax on rupee infrastructure bonds
• Asian shares edge higher, earnings caution caps
• Kingfisher makes offer to striking workers, Kingfisher shares are down 4.6 pct to 10.35 rupees
• L&T Finance Holdings acquires FamilyCredit Ltd for Rs1.2bn
• General Atlantic to acquire minority stake in e-payment processing company BillDesk

Pre-Market Intraday Calls and Tips on your mobile for Thursday 25 Oct 2012, Fill the form immediately..... Hurry up!!! Have a Happy Trade!!!

Stock Market Latest News

Markets provisionally fall 1.3%; RIL drops

Mumbai: Shares provisionally fell 1.3% on Thursday as concerns about growth prospects deepened on the back of a weakening rupee, while Europe’s debt crisis continued to build worries. Energy major Reliance Industries along with private-sector lenders ICICI Bank and HDFC Bank led the losses.

The main 30-share BSE index provisionally closed down 208.83 points at 15,519.02, with 20 of its components closing in the red.

The 50-share NSE index provisionally closed 1.27% lower at 4,646.25.

Rupee weak on local equities, importer demand

The rupee stayed weak on Thursday due to a sluggish local share market along with subdued global risk appetite ahead of an Italian debt auction, a key event which is expected to give cues on Europe’s economic outlook.Dollar demand from oil importers for month-end payments and on account of defence payments kept the selling pressure on rupee, traders said.

However, a big slide in the rupee was unlikely as the Reserve Bank of India is likely to step in and keep the local unit’s fall under check by selling dollars, they said. The Reserve Bank of India is suspected to have intervened in the foreign exchange market on Wednesday helping rupee recover some losses.

At 2:37 pm, the rupee was at 53.33/34 to the dollar, weaker than Wednesday’s close of 53.07/08, and the unit is likely to stay in range of 53.25 to 53.50 in rest of the session.

India’s benchmark share index was down 0.4% while the euro fell to a fresh 10-year low against the yen on Thursday, driven by selling from Japanese retail investors and exporters.

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