Traders’ Diary: Nifty trading range at 11,900-12,250 – Economic Times

Trading News

Posted on February 19, 2020

Traders’ Diary: Nifty trading range at 11,900-12,250 – The Economic Times

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Feb 19, 2020, 07.11 PM IST

Kotak Mahindra Bank gets RBI nod for trimming promoters’ stake

Private sector Kotak Mahindra Bank on Wednesday said the Reserve Bank has granted its final approval for reducing promoters’ stake in the bank to 26 per cent. On January 30, the bank had informed about RBI’s in-principle acceptance for reducing promoters’ shareholding to 26 per cent of the paid-up voting equity share capital (PUVESC) of the bank within six months from the date of final approval of the regulator.

01:45 PM

Gold futures gain Rs 85 to Rs 41,505 per 10 gm

Gold prices on Wednesday gained Rs 85 to Rs 41,505 per 10 gram in futures trade as speculators increased their bets tracking positive trend overseas. On the Multi Commodity Exchange, gold contracts for April traded higher by Rs 85, or 0.21 per cent, to Rs 41,505 per 10 gram in a business turnover of 3,191 lots.

12:09 PM

Asia stocks rise on lull in virus worry, euro still weak

Asian shares and U.S. stock futures rose on Wednesday, as investors tried to shake off worries about the coronavirus epidemic after a slight decline in the number of new cases, Reuters reported. MSCI’s broadest index of Asia-Pacific shares outside Japan recovered from a shaky start to rise 0.4 per cent

11:18 AM

35 stocks hit 52-week highs on NSE

Around 35 stocks rose to touch their 52-week highs on NSE in Wednesday’s session. Among the stocks that touched their 52-week highs were Abbott India, AGC Networks, Apollo Hospitals Enterprise, AU Small Finance Bank, Deepak Nitrite, Escorts, INOX Leisure, Granules India, ICICI Securities, Ircon International, Kotak Mahindra Bank, United Spirits, PVR and Vaibhav Global.

09:30 AM

Shree Cement rallies 5% on inclusion in Nifty50; YES Bank drops

Shares of Shree Cement advanced 5 per cent in Wednesday’s trade on inclusion in the benchmark NSE Nifty index. Shree Cement will replace private lender YES Bank in the benchmark index Nifty50 from March 27, NSE Indices, a subsidiary of the National Stock Exchange (NSE), said on Tuesday. On the other hand, YES Bank was down 1.71 per cent at Rs 34.45.

08:31 AM

Tech view: Nifty forms Hammer candle

Nifty50 on Tuesday fell below the psychological mark of 12,000 level despite some late recovery. The index formed a ‘Hammer’ candle on the daily chart, suggesting buying at lower levels. Analysts said a fall below 12,000 is a negative despite efforts by the bulls to defend the level. Immediate resistance is seen at 12,030.

08:31 AM

US stocks closed mixed

US stocks ended mixed after a sales warning from Apple left investors assessing the impact of the coronavirus outbreak on US companies. The Dow Jones Industrial Average index fell 165.89 points, or 0.56 per cent, to 29,232.19, the S&P500 index lost 9.87 points, or 0.29 per cent, to 3,370.29. The Nasdaq Composite added 1.57 points, or 0.02 per cent, to 9,732.74, eking out a record closing high.

08:31 AM

Nifty rejig: YES Bank out, Shree Cement in

Shree Cement will replace private lender Yes Bank in the benchmark index Nifty 50 from March 27, NSE Indices, a subsidiary of the National Stock Exchange (NSE), said on Tuesday. Further, Vodafone Idea, Ashok Leyland, Indiabulls Housing Finance, L&T Finance Holdings, and Shree Cement will be dropped from Nifty Next 50, NSE Indices.