Friday, 23 February 2018

Markets indicate a marginally positive opening, in-line with Asian markets

SGX Nifty is indicating a positive for the Indian markets. Indian markets are expected to trade range bound, as traders await fresh triggers. In stock specific news, I-T dept attaches Gitanjali Gems's SEZ property in Hyderabad worth Rs1,200 cr in PNB fraud case. Fortis Bank is set to acquire 26% stake in Equirus capital . 

Global markets: Asian markets are trading in the green at present. Nikkei is currently up 0.29%, Hang Seng is trading 1.05% higher, while Shanghai Composite is up 0.25%.

US Markets: Wall Street ended on a mixed note in yesterday’s session. The Dow climbed 0.7% to 24,962.48, S&P 500 inched up 0.1% to end at 2,703.96, while the tech-heavy Nasdaq edged modestly lower, closing at 7,210 down 0.1%. 

On the US economic front, a report released by the Labor Department showed a modest decline in first- time claims for US unemployment benefits in the week ended February 17th, which surprised most economists who had exacted it to remain unchanged.

FUTURE CALL: BUY SUNPHARMA ABOVE 564 TARGETS 566.50 / 569.50 / 673.50 STOPLOSS 560.40 

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