Tuesday 16 May 2017

Daily Nifty News Letter


Outlook Of Nifty/bank nifty today

Nifty Outlook:  
Equity benchmarks recouped previous session's losses on Monday, ending at fresh record closing high as investors cheered better macro data that raised hopes for rate cut. Even likely early start to the monsoon also lifted sentiment. The 30-share BSE Sensex was up 133.97 points at 30,322.12 and the 50-share NSE Nifty rose 44.50 points to 9,445.40, backed by banks, FMCG, metals and pharma stocks.

Bank Nifty Outlook:  
After State Bank of India (SBI) and LIC Housing Finance, ICICI Bank, India’s largest private sector bank, on Monday announced its decision to reduce interest rates by up to 30 basis points (bps) for home loans up to Rs 30 lakh in its bid to boost affordable housing loan segment.

With this reduction, salaried borrowers can avail home loans at among the lowest rates in the industry. Salaried women borrowers will get home loans at 8.35 percent and others at 8.40 percent, ICICI Bank said in a statement. The reduced rate will be effective from May 15, 2017 for new borrowers. Further, borrowers of ICICI Bank can also choose to link their home loans with I-MCLR-6 Months or I-MCLR-1 Year, claiming to be the first bank to offer such flexibility to customers.

Nifty Trends
   R1
9470
R2
9535
S1
9370
S2
9280




 Technical Outlook

Top Gainers
TATASTEEL
456.45
HINDALCO
198.70
DRREDDY
2,667.50
BOSCHLTD
24,135.00
LUPIN
1,285.00

Top Losers
AUROPHARMA
613.60
INFY
953.25
EICHERMOT
28,915.05
INFRATEL
372.00
HEROMOTOCO
3,518.00

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