VERY IMP MKT DATA FOR 9 DECEMBER

Market Update:
Sgx Nifty +60 pts
‎Dow +65.19 pts ,Nsdq +23.59 pts , S&P +4.84 pts , Bovespa -737 pts , Ftse +29 pts , Dax +192 pts  , Cac +40 pts , Nikkei  +102 pts now , Crude @ $51.05 brl (+0.21 ), Brent @ $53.89 brl (+0.89) , Gold @ $1171.80 (-0.80), Silver @ $17.07 (-0.03), Euro @ $1.0619, JPY @ $114.0500, INR @ $67.3550

Today's Corporate Action
9th Dec  Ex Date

INDIANHUME
Bonus issue 1:1
NESTLEIND
‎Interim Dividend 16.0000

‎

Today's Key Result
9th Dec

Asian Hot(E),DB Really, Dhunsuri Petro,DLF,Gayatri Proj,GIPCL,J Kumar Infra,Jaiprakash Power,Lanco Infra,Mercaoter,Monnet Ispat,Nmdc,Omdc,Rolta,Simplex Proj,SJVN,Tara Jewels,Usha Martin

‎Economic Times
 
Business Standard
Ø  SAIL reports net loss of Rs 732 crore for Q2 FY17
Ø  JSPL's net loss narrows to Rs 746 cr in Jul-Sept qtr
Ø  ECB to extend QE programme but at lower rate of 60 billion euros a month
Ø  Reserve Bank may cut rate by 25-75 bps in 2017
 
Ø  Bharti Airtel slashes prepaid tariffs to compete with Jio
Ø  Metal shares gain; Vedanta hits 52-week high, Tata Steel up 5% intraday
Ø  BSE Auto index soars over 500 points intra-day
Ø  Sun Pharma gains after falling 6% on Wednesday
Business Line
 
Mint
Ø  Crop worry: Centre scraps import duty on wheat to ease supply, check prices
Ø  Gold recovers by Rs 110 on global cues, spot market demand
Ø  No service tax on credit, debit card transactions up to Rs. 2,000
Ø  GMR Infra net loss widens to Rs. 700.34 cr
 
Ø  Note ban impact: Auto sales slide for the first time in 11 months
Ø  Sensex surges 457 points on global cues
Ø  InGovern tells shareholders to vote against Tata resolution to remove Mistry
Ø  Discounts for petrol, life insurance in push for digital transactions
Financial Express
 
Financial Chronicle
Ø  GST Council may reduce tax slabs in future: CBEC chief Najib Shah
Ø  Flipkart and Ola benefitted from foreign capital, now want protection from it
Ø  Oil prices rise on US crude stock decline, weaker dollar
 
Ø  ICICI moves US court to recover loans from Essar
Ø  Honda Cars sales slip by 20-30% after demonetisation
Ø  IL&FS to raise more than Rs 10K

Sensex (26694) / Nifty (8247)
What we saw yesterday was clearly one of the unique
characteristics of the financial market. The RBI shocked everyone
by maintaining a status-quo on Wednesday. Ideally, this should
have been a disappointing development for our markets. But, we
just witnessed an immediate kneejerk reaction for few minutes
and today surprisingly, a gap up opening with a decent margin.
In fact the momentum accelerated as the day progressed, which
led to a smart intraday rally to add 1.79% gains over its previous
close.
Now, going by the previous article, despite all the negative
development, we continued with our optimistic stance on the
market and the strategy played out well for us. The Nifty has
managed to surpass the recent swing high of 8250.80 on an
intraday basis and has eventually closed tad below it. But now, its
matter of time, the Nifty would overcome this hurdle convincingly
and we would see this rally getting extended towards our
mentioned levels 8320 – 8380. Traders holding long positions
should now trail their stop losses higher at 8055. For the coming
session, 8162 – 8125 would be seen as an immediate support
zone for the index.
Key Levels
Support 1 – 8162 Resistance 1 – 8320
Support 2 – 8125 Resistance 2 – 8380