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Saturday, March 25, 2017

SBI Life plans IPO; SBI to dilute 10% stake in insurer


State Bank of India (SBI) today said it plans to dilute 10 percent of its stake in the life insurance venture SBI Life through public offer.

The Executive Committee of Central Board in its meeting held today accorded in-principle approval for initial public offer (IPO), SBI said in a regulatory filing to stock exchanges.

SBI also said it is exploring the possibility of diluting 8 per cent stake sale of SBI Life through IPO out of 10 percent Offer for Sale.

SBI Life Insurance is a joint venture between the bank and BNP Paribas Cardif. SBI owns 74 percent of the total capital and BNP the rest.

SBI had last year sold 3.9 percent stake in SBI Life to global private equity major KKR and the Singaporean sovereign fund Temasek Holdings for Rs 1,794 crore or USD 264 million, valuing the country's third largest private life insurer at around Rs 46,000 crore.

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US shares, dollar pare losses after Healthcare Bill pulled

US shares pared losses to end slightly lower on Friday after Republicans pulled their bill to overhaul the US healthcare system due to a shortage of votes, dealing a blow to US President Donald Trump, while European shares fell ahead of the decision.

The benchmark US S&P 500 stock index ended a touch lower after falling as much as 0.4 percent earlier, before a House Republican leadership aide said the bill to dismantle Obamacare had been pulled by US House Republican leadership.

European stocks slipped as caution prevailed ahead of the decision, with the FTSEurofirst 300 index of top European shares falling about 0.5 percent for the week.

MSCI's all-country world equity index was last up 0.24 point, or 0.05 percent, at 447.72. 

The Dow Jones Industrial Average closed down 59.86 points, or 0.29 percent, at 20,596.72. 

The S&P 500 closed down 1.98 points, or 0.08 percent, at 2,343.98. The Nasdaq Composite ended 11.05 points higher, or 0.19 percent, at 5,828.74.

The US dollar index, which measures the greenback against a basket of six major rivals, hit a seven-week low of 99.527 before the healthcare decision but pared losses after the announcement and was last marginally higher at 99.765

Oil rose modestly in a spate of late-day activity, but fell on the week as concerns persisted over an excess of crude. Brent crude settled up 24 cents, or 0.47 percent, at USD 50.80 a barrel. US crude settled up 27 cents, or 0.57 percent, at USD 47.97.

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Friday, March 24, 2017

NIFTY TOP LOSERS

NIFTY TOP LOSERS

GRASIM -2.94%

TECHM -2.03%,

AMBUJACEM -1.27%

ZEEL -1.34%

TCS-1.31%


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NIFTY TOP GAINERS

NIFTY TOP GAINERS


BANKBARODA+3.76%

ICICIBANK+3.22%

SBIN+2.77%

KOTAKBANK+1.19%

GAIL +1.43%


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Epic Research Closing Bell

Epic Research Closing Bell


NIFTY CLOSE @ 9108.00(+21.70)


SENSEX CLOSE @ 29421.40(+89.24)


BANK NIFTY CLOSE @ 21122.55(+227.05)


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Nifty holds 9100, Sensex firm; Bank up 200 pts on NPA resolution hope

NSE_Nifty_Bul_190

Benchmark indices as well as broader markets retained gains in afternoon trade despite sluggish trade in global peers.


The 30-share BSE Sensex was up 109.67 points at 29,441.83 and the 50-share NSE Nifty rose 27.30 points to 9,113.60, backed by banks after Finance Minister promised at IBLA award ceremony that new policy for NPA resolution will be announced soon.


The Nifty Bank index gained 200 points.


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Sensex, Nifty remain steady after morning gains; ICICI Bank up 3%

Epic Update ICICI Bank
Epic Update ICICI Bank

After surging ahead from the opening sessions, the market held on to its extended gains, led by a rally in banks.

The Sensex was up 117.89 points at 29450.05, while the Nifty was up 30.80 points at 9117.10.

The market breadth was narrowing as 1,031 shares declined against an advancement of 1,435 shares. Around 169 shares were unchanged.

ICICI Bank, SBI and Bank of Baroda were top gainers on the indices, while Bajaj Auto, TCS, Grasim and Tech Mahindra were the top losers.

The S&P BSE Banking index rose and the Nifty Bank rose 1 percent each in trade on Friday, led by gains in Bank of India, Bank of Baroda, ICICI Bank, PNB, Federal Bank and Canara Bank.

Banking stocks gained traction after the Finance Minister said that the government is going to announce a policy to push for the quick settlement of the non-performing assets (NPA) at banks in a ‘couple of days’ at CNBC-TV18’s IBLA Awards on Thursday.
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Sensex rises over 100 pts, Midcap outperforms; ICICI, SBI lead gainers




Benchmark indices extended gains in morning, with the Sensex rising more than 100 points, supported by ICICI Bank, ITC and HDFC Bank.

The 30-share BSE Sensex was up 121.31 points at 29,453.47, and the 50-share NSE Nifty rose 33.25 points to 9,119.55.

The market breadth remained strong as about two shares gained for every share falling on the BSE.

The broader markets outperformed benchmarks as the Nifty Midcap and Smallcap indices gained 0.6 percent each.


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Indian ADRs: Dr Reddy’s Lab down 3.5%, Tata Motors, Wipro gain

Epic Research Update :  Indian ADRs
Epic Research Update : Indian ADRs

Indian ADRs ended mixed on Thursday.

In the IT space,

Infosys added 0.37 percent at USD 15.65 and Wipro rose 0.20 percent at USD 10.09.

In the banking space,

ICICI Bank was down 0.14 percent at USD 8.17 and HDFC Bank rose 0.96 percent at USD 72.68.

In the other sectors,

Tata Motors gained 0.91 percent at USD 35.55 and Dr Reddy’s Laboratories fell 3.54 percent at USD 39.54.

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Indian rupee opens higher at 65.48 per dollar

Epic Research Update : Indian Rupee

Epic Research Update : Indian Rupee


The Indian rupee gained marginally in the early trade on Friday.

It has opened at 65.48 per dollar versus previous close 65.52.

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Dollar hangs on for US healthcare vote, Asia shares muted

Asian Market 1

The dollar was living on borrowed time on Friday after US lawmakers delayed a vote on a healthcare bill seen as crucial to President Donald Trump’s policy credibility.

Asian share markets were in limbo as a vote on the American Health Care Act might not happen until later Friday or Monday, as it meets opposition from warring factions within the Republicans themselves.

Japan’s Nikkei added 0.3 percent. A Reuters poll published on Friday showed confidence among Japanese manufacturers rose for a seventh straight month to a three-year high.


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EPIC RESEARCH OPENING BELL

EPIC RESEARCH OPENING BELL

MORNING MARKET UPDATES 24th March’17 By #EpicResearch


■■ The #BSE #SENSEX OPEN @ 29350.60(+18.44)

■■ The #NSE #NIFTY OPEN @ 9104.00(+17.70)

■■ #BANKNIFTY OPEN @ 20987.60(+92.10)


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Thursday, March 23, 2017

Epic Research Closing Bell

Epic Research Closing Bell


NIFTY CLOSE @ 9086.30(+55.85)


SENSEX CLOSE @ 29332.16(+164.48)


BANK NIFTY CLOSE @ 20895.50(+114.15)



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