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CAPITALSTARS – MARKET WRAP UP AND UPDATES – 19 FEB 2018

Trading for the week started on a subdued note as key indices logged modest losses as sentiment was marred by loan fraud cases in the PSU banks. The Nifty 50 index lost 73.90 points or 0.71% to settle at 10,378.40. The last week’s detection of a massive fraud at a Mumbai branch of the state-run

CAPITALSTARS – TOP CORPORATE NEWS – 19 FEB 2018

PNB hits over 1-year low, pulls down Nifty PSU Bank index Shares of Punjab National Bank hit over a 1-year low and extended their fall for a fourth straight session following the ~Rs11,600cr fraud at one its Mumbai branches. UCO Bank, in its filing on BSE, reported an exposure of ~Rs2, 633cr in the Punjab

CAPTALSTARS – Stocks to look out for today:19 FEB 2018

The last trading day of the week saw the Nifty ending near day’s low with loss of about 93 points. The price action formed a sizeable bear candle. After holding the level of 10,500 on a closing basis for the past three trading sessions, the index closed below the 10,500-mark and now, going ahead, we

CAPITALSTARS INDIAN EQUITY MARKET OUTLOOK – 19 FEB 2018

Sensex falls 100 pts, PSU Bank dips 1%; Bhushan Steel up 20%; Indian Indices: The Indian equity benchmark indices are likely to open higher today, tracking firm Nifty  firm trend in the SGX Nifty Index Futures for February delivery, which was trading at 10,487, up by 24 points or 0.23at 11:26 AM Singapore time, also signaled a positive opening for the domestic equity bourses. Market participants is expected to react to recent data showing foreign investors have pulled out USD 1 billion or Rs 6,850 crore so far this month from the Indian stock market due to selloffs globally. The equity market is expected to remain volatile ahead of February F&O expiry on this Thursday. The banking stocks will remain in focus as the PNB mess will take a toll on other banks also futures on the Singapore Stock Exchange and positive trend across the global markets. On the Stock front Shares of Reliance Industries Limited will remain in focus as the company has said that its arm Reliance Industrial Investments and Holdings Limited will acquire equity shares of The Indian Film Combine Private Limited (“IFC”), a company incorporated in 1942. Shares of Reliance Communications is expected to remain on investors’radar as the shareholders of Anil Ambani­led company have approved the sale of its wireless assets to pare debt. On the Corporate front Infosys, India’s second largest software services firm, has said that it has divested its investment in OnMobile Systems Inc for USD 2.49 million. “…it (Infosys) has on February 15, 2018 signed an agreement for divestment of its entire investment from OnMobile Systems Inc. ONGC Videsh Ltd, the overseas arm of state­owned Oil and Natural Gas Corp (ONGC), will bid for development rights of Iran’s giant South Azadegan Oilfield in direct competition with the likes of global giants like Shell, France’s Total, Petronas of Malaysia and Russia’s Gazprom. PREVIOUS DAY ROUNDUP (DOMESTIC) The Indian equities ended lower in volatile trade on Friday, undermining firm cues from Asian peers, led by sharp sell­ off in final hour of day’s trade with PSU bank index falling over 2 percent. Global Market: Major Asian markets are shut today. Nikkei is currently up 1.31%. US Markets: Wall Street ended Friday’s session on a mixed note while the Dow and S&P 500

Volatile Week: PNB fraud drags Bank Nifty 1%; SBI, PNB lose marketcap the most

Nifty and Sensex ended on flat note in the week ended February 16. It has been a volatile truncated week as the benchmark indices have been dancing to the tune of global equity indices. However, the Nifty is stuck in a narrow trading range between 10400 to 10600 levels for the past seven days. The

CAPITALSTARS – TOP CORPORATE NEWS – 16 FEB 2018

PNB fraud: CBI registers FIR against Gitanjali Gems CBI has registered a fresh FIR against Gitanjali Gems and Mehul Choksi. The investigation agency also raided ~20 premises Gitanjali Gems in the six cities across the country, as per the media reports. The development came after the agency registered a fraud case against Nirav Modi and

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