CAPITALSTARS NIFTY FUTURES & BANK NIFTY FUTURES OVERVIEWS - 05 MAR 2018

CS NIFTY FUTURES (MAR ) OVERVIEW

TREND BEARISH

RES2: 10520

RES 1:10450

SUP1:10350

SUP2:10280

CS BANK NIFTY FUTURES (MAR ) OVERVIEW

TREND BEARISH

RES 2: 25000

RES 1: 24900

SUP1: 24650

SUP2: 24550

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Indian rupee gains 5 paise to trade at 65.12 in late morning deals

The rupee recovered from earlier losses to trade up by 5 paise at 65.12 against the American currency in late morning deals following sustained bouts of dollar selling from banks and exporters amid higher dollar overseas.

The rupee opened lower at 65.25 as against yesterday's close of 65.17 at the inter-bank foreign exchange here. Later, the volatile rupee touched a low of 65.25 before rebounding to 65.10 during morning deals. It was trading up at 65.12 at 1045 hrs.

Persistent FII outflows and higher dollar overseas are influencing the domestic currency, a dealer said.

Meanwhile, the US dollar held firm against its major rivals in early Asian trade, drawing support after the Federal Reserve's new chief Jerome Powell struck an optimistic tone on the US economy in a boost to rate hawks that sent global stocks tumbling.

The 30-share BSE Sensex was down 32.14 points or 0.09 per cent at 34,151.90 at 1105 hrs.

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Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.CapitalStars Investment Adviser: SEBI Registration Number: INA000001647

Capitalstars - PNB stock cracks 6% to hit to 20-month low

Shares of Punjab National Bankslumped over 6 per cent and fell to a 20-month low on the bourses after Nirav Modi's Firestar Diamond filed a bankruptcy plea in the US and a local court in Mumbai issued summons to the accused diamantaire.

Meanwhile, media reports have surfaced that Nirav Modi is not coming back to India anytime soon. Reacting to the developments, the stock today fell to an intra-day low of Rs 92, down 6.45 per cent over its previous closing price on BSE.

The stock has fallen to a level last seen on June 20, 2016. Since February 14, when the scam broke, the stock has fallen as much as 37 per cent on BSE.

On the NSE as well, the stock touched fresh 52-week low of Rs 92. Modi's international jewellery business Firestar Diamond filed a bankruptcy plea in the US.

Furthermore, a local court in Mumbai has issued summons to the diamantaire in connection with an income tax evasion probe against him and his companies. PNB has said that the alleged fraud perpetrated by jewellers Modi and Mehul Choksi may be around USD 2 billion, over USD 204 million more than previously estimated.

Shares of Gitanjali Gems continued to lose ground and fell 5 per cent to its 52-week low level yet again on BSE and NSE.

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Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.CapitalStars Investment Adviser: SEBI Registration Number: INA000001647

CAPITALSTARS - Indices trade flat, Nifty tests 10,600 level

The benchmark indices were trading flat taking cues from its Asian counterparts.

Back home, market participants will look forward to key economic data such as  Nikkei Markit Manufacturing Purchasing Managers Index (PMI), Fiscal Deficit and Gross Domestic Product (GDP) to be released on Wednesday.

In the global markets, Asian shares extended their recovery on Tuesday, hitting a three-week high as US borrowing costs eased ahead of Federal Reserve Chairman Jerome Powell’s highly-anticipated first congressional testimony later in the day.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.3 per cent, building on its bounce from a two-month low touched on Feb 9.

Japan's Nikkei rose 1.0 per cent to three-week highs.

On Wall Street, the S&P 500 advanced 1.18 per cent on Monday helped by fall in US bond yields.

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Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.CapitalStars Investment Adviser: SEBI Registration Number: INA000001647