Monthly Archives: September 2023

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Sep 24, 2023
Sebi gets cracking on front-running

The Securities and Exchange Board of India (Sebi) has gone into ‘high alert’ mode with regard to front-running in mutual fund houses and broking firms, which is a serious stock market offence.

According to sources, auditors of the market regulator have started visiting fund houses and seeking call record data of fund houses and senior officials. In addition, they are also seeking backup data of transactions being made by fund houses for audit.

“Sebi does not want to be caught on the backfoot when it comes to front-running cases. It is extremely worried that some fund houses are following the guidelines on paper and not in spirit,” said an industry source.

According to him, the idea is to keep the fund houses on their toes and ensure that guidelines are followed stringently.

Front-running is the practice of purchasing shares/ other securities based on advance non-public information regarding a large transaction that will affect the price of a security. It comes under the category of market manipulation and insider trading. It constitutes a serious violation and falls under the Sebi (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 2003.

Sebi will conduct a detailed examination of the data, emails and other documents. It may even pass ex parte orders against alleged wrongdoers. These actions have been initiated based on surveillance inputs and an internal alert system, said industry sources.

The move comes after allegations of front-running emerged in the recent past. Last year, Axis Mutual Fund had come under scrutiny for irregularities in some of its schemes. It had terminated two fund managers for an alleged breach of securities law.

According to reports, around a fortnight ago, the market watchdog had conducted search and seizure operations against market experts doling out stock advice on business news channels. It had seized records, including mobile phones, laptops, desktops, tablets and hard drive disks, to retrieve data for examination. The searches were carried out in Kolkata, Jaipur, Noida, and Pune.

It is not just mutual funds where front-running can take place, even dealers can use prior information to manipulate the price of stocks as happened in the India Infoline’s (IIFL) case. In June, the market regulator banned six entities from the securities market in the IIFL case because they had used mule accounts to carry out trades.

The mutual fund industry has faced several front-running cases in the past decade. While fund houses say they are putting in place more controls, such as keeping track of relatives and friends of key employees to make sure that front-running could be clamped down early on, it is actually a very difficult job. Some fund houses have also resorted to external reviews done on a quarterly basis.

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Sep 22, 2023
Share Market Crash Highlights: Nifty settles below 17560, Sensex tanks 900 pts; Bank Nifty closes below 40000

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices suffered huge losses on Wednesday dragging Nifty 50 below 17,560 and Sensex below 59,750. The Bank Nifty breached the crucial level and closed below 40000 as the negative global market sentiment triggered bloodbath on Dalal street. The Nifty 50 fell 272.40 pts or 1.53% to 17,554.30 and BSE Sensex tanked 927.74 pts or 1.53% to 59,744.98. The only gainers on the Nifty 50 were ITC (up 0.50%) and Bajaj Auto (up 0.26%) while Adani Enterprises (down 11.05%), Adani Ports (down 7.24%), Grasim (down 3.44%), Bajaj Finance (down 2.94%) and JSW Steel (down 2.79%) were the losers. 

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Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market Highlights

15:44 (IST) 22 Feb 2023 Bank Nifty ends below 40000

The Bank Nifty breached the crucial level and closed below 40000 as the negative global market sentiment triggered the bloodbath on Dalal street. The banking index tanked 677.70 pts or 1.67% to close at 39,995.90.

15:42 (IST) 22 Feb 2023 Top gainers/losers

The only gainers on the Nifty 50 were ITC (up 0.50%) and Bajaj Auto (up 0.26%) while Adani Enterprises (down 11.05%), Adani Ports (down 7.24%), Grasim (down 3.44%), Bajaj Finance (down 2.94%) and JSW Steel (down 2.79%) were the losers. 

15:42 (IST) 22 Feb 2023 Nifty, Sensex close in deep red

The Nifty 50 fell 272.40 pts or 1.53% to 17,554.30 and BSE Sensex tanked 927.74 pts or 1.53% to 59,744.98.

14:23 (IST) 22 Feb 2023 Extended trading hours for share markets

The trading hours for interest rate derivatives have been extended by the National Stock Exchange (NSE) until 5 pm, with effect from 23 February. NSE is also mulling increasing trading hours for the equity and equity derivatives segments as well, and is seeking feedback from members and traders, according to media reports. Some investors are in favour of the decision, but others are against it.

Know why traders are anxious

14:21 (IST) 22 Feb 2023 Adani Group stocks fall

Shares of Adani Group firms fell sharply on Wednesday in line with an overall weak trend in the equity market. Adani Enterprises stock tumbled 9.31 per cent on the BSE. Shares of Adani Power declined 5 per cent, Adani Transmission fell 5 per cent, Adani Total Gas (5 per cent), Ambuja Cements (5 per cent) Adani Green Energy (4.99 per cent), Adani Wilmar (4.99 per cent) and NDTV (4.55 per cent).

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14:19 (IST) 22 Feb 2023 ITI, IFB, Delhivery among top volume gainers

ITI, Suryalakshmi Cotton Mills, Aaron Industries, IRB Infrastructure Developers, Cheviot Company, IFB Industries, Johnson Controls – Hitachi Air Conditioning India, Manaksia Steels, Asahi Songwon Colors, Delhivery, Wockhardt are among the volume gainers on the NSE index.

14:18 (IST) 22 Feb 2023 Adani Transmission, V-Mart among 183 stocks that hit 52-week lows

Alternatively, 183 stocks including V-Mart Retail, Venky’s (India), Bata India, Shaily Engineering Plastics, Sheela Foam, Godrej Properties, Tide Water Oil Company (India), Adani Total Gas, IPCA Laboratories, Adani Transmission, India Motor Parts and Accessories, Motilal Oswal Financial Services, Amrutanjan Health Care, Century Textiles & Industries, Seamec, Adani Green Energy, Jindal Poly Films, BSE, Paras Defence and Space Technologies, GKW, Godrej Agrove, Olectra Greentech, Aarti Drugs, Harsha Engineers International, Laurus Labs, Biocon, Pokarna, Graphite India are at 52 week lows.

14:17 (IST) 22 Feb 2023 Blue Star, Jindal Stainless among 28 that stocks hit 52 week highs

On the NSE Nifty, 28 stocks hit their 52 week highs including Cera Sanitaryware, ION Exchange (India), Siemens, Blue Star, MPS, Cyient, Kaynes Technology India, Uniparts India, Focus Lighting and Fixtures, Universal Cables, Fourth Dimension Solutions, Aaron Industries, Vinny Overseas, Jindal Stainless, Jindal Saw among others.

14:16 (IST) 22 Feb 2023 Adani stocks, NDTV among 71 stocks that hit lower price band

71 stocks hit their lower price band including Adani Power, Adani Green Energy, Adani Total Gas, Adani Wilmar, NDTV, Focus Lighting and Fixtures, DB Realty, SVP Global Textiles. Additionally, 22 scrips hit both bands.

14:15 (IST) 22 Feb 2023 NMDC Steel, Sanghi Industries among 33 stocks that hit upper price band

On the NSE Nifty, 33 stocks hit their upper price band. NMDC Steel, Nintec Systems, Sanghi Industries, Vinny Overseas, Fourth Dimension Solutions, Eros International Media, Kingfa Science & Technology (India), Aaron Industries were among the scrips.

14:14 (IST) 22 Feb 2023 Top gainers/losers

On the NSE Nifty index, the top winners are Divi’s Lab, ITC, Bajaj Auto, Cipla with Divi’s Lab up 0.4%. The biggest laggards are Adani Enterprises, Adani Ports, Grasim, JSW Steel, Bajaj Finance, with Adani Enterprises down 10.2%.

14:13 (IST) 22 Feb 2023 Adani Enterprises, RIL among most active stocks

Adani Enterprises, Reliance Industries, ICICI Bank, HDFC, HDFC Bank are the most active Nifty 50 stocks intraday.

12:43 (IST) 22 Feb 2023 Adani stocks lose Rs 11 lakh cr in market cap in a month

Adani Group shares have lost in just 30 days more than what the Indian government plans to spend on capital expenditure over the full financial year 2023-24. Adani Enterprises, Adani Green Energy, Adani Ports, Adani Power, Adani Total Gas, Adani Transmission, Adani Wilmar, Ambuja Cements and ACC Ltd stocks have together lost over Rs 11 lakh crore in market cap in the last one month. For comparison, the Centre’s capital expenditure outlay for FY24 is at Rs 10 lakh crore. The stocks of Gautam Adani-led companies have been falling since the US-based short-seller Hindenburg Research LLC accused the Adani family of stock manipulation and money laundering.

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12:42 (IST) 22 Feb 2023 Why US markets fell over 2% on Tuesday?

Wall Street tumbled sharply overnight on Wednesday, as all three major indexes ended lower, led by selloffs in technology, consumer discretionary, industrials and financial stocks. The Dow Jones Industrial Average fell 2.06%, the S&P 500 lost 2.01% and the Nasdaq Composite dropped 2.5% as sentiments soured on S&P Global’s PMI data. Business activity in the U.S. rebounded sharply, touching an eight-month high, which sent fears of further rate hikes soaring.

Here are the reason why US markets fell on Tuesday

12:40 (IST) 22 Feb 2023 Nifty 17580 level may offer a pause

“With oscillators approaching oversold territory, our downside marker of 17750 that has held so far may be expected to attract bargain buying, but a vertical bounce back is less expected. In the event of a downside break, we may expect 17580 to offer a pause, with the technical construct not yet providing for a collapse to 17300 and beyond,” said Anand James, Chief Market Strategist at Geojit Financial Services.

12:40 (IST) 22 Feb 2023 Investors keenly eyeing RBI MPC and FOMC minutes

Investors are waiting for RBI MPC and FOMC minutes which will be published later today. “Underpinned by inflationary concerns, the market is keenly eyeing the US fed meeting minutes, scheduled to be released today, for hints on further monetary policy tightening.”

12:39 (IST) 22 Feb 2023 Markets remain volatile ahead of monthly F&O expiry

“Nifty should hold the level of 17650 intraday, however if broken, more selling is likely to continue in the coming days. Bank Nifty still remains on the weaker side as the support remains at the 40000-39800 zone. As the monthly expiry approaches the market would remain more volatile,” Om Mehra, Equity Research Analyst at Choice Broking.

12:39 (IST) 22 Feb 2023 Why Nifty, Sensex, Bank Nifty are falling today?

Domestic equity indices fell nearly 1% on Wednesday, as the market sentiment remained negative, fearing further US Fed rate hikes. The NSE Nifty 50 tanked 184.55 pts or 1.04% to 17,642.15 and the 30-share BSE Sensex fell 603 pts or 1% to 60,069. All the broader market and sectoral indices were trading in red, except Nifty Pharma. Bank Nifty plunged 474.20 pts or 1.17% to 40,199.40 while Nifty IT sank 218 pts or 0.71% to 30,728.60.

Here are the reasons why the Nifty and Sensex are falling today.

09:22 (IST) 22 Feb 2023 Top gainers/losers

The top gainers on Nifty were Coal India, Hindalco, Britannia, Tata Steel and Apollo Hospital while the losers were Tech Mahindra, Mahindra & Mahindra, Infosys, HCL Tech and Wipro. 

09:22 (IST) 22 Feb 2023 Nifty, Sensex open in red

The BSE Sensex fell 290.35 pts or 0.48% to 60,382.37 and NSE Nifty 50 plunged 68.20 pts or 0.38% to 17,758.50.

09:14 (IST) 22 Feb 2023 Nifty, Sensex end pre-open in red

Domestic indices ended the pre-opening session in the red territory. The NSE Nifty 50 fell 71.35 pts or 0.40% to 17,755.35 and BSE Sensex tanked 280.86 pts or 0.46% to 60,391.86.

09:10 (IST) 22 Feb 2023 Nifty, Bank Nifty to remaain volatile

“All US market Indexes were dragged down by more than 2 percent each as interest rates likely to stay higher for longer to control inflation. The market is set to open in the red, as patterns in the SGX Nifty point to a poor start for India’s wider index, with a loss of 65 points. India VIX likely to shoot up as sentiments turned negative globally.  Nifty should hold up the levels 17650 intraday however if broken more selling is likely to continue in the coming days. Bank nifty still remains on weaker side as the support remains at 40000-39800 zone. As the monthly expiry approaches the market would remain more volatile.” – Om Mehra, Equity Research Analyst, Choice Broking.

08:06 (IST) 22 Feb 2023 SGX Nifty in red

The Nifty futures on the Singaporean exchanges were trading 68 pts or 0.38% lower at 17,777.00 in the early morning trade.

08:06 (IST) 22 Feb 2023 US equity indices tank over 2%

The US markets ended Tuesday’s session broadly lower with Dow Jones Industrial Average tanking 697.01 pts or 2.06% to 33,129.59, tech-heavy Nasdaq sank 294.97 pts or 2.50% to 11,492.30 and S&P 500 plunged 81.75 pts or 2% to 3,997.34.

08:05 (IST) 22 Feb 2023 Asian markets trade in red

All major Asian markets were trading in red with China’s Shanghai Composite index falling 0.40%, Japan’s Nikkei 225 sinking 1.49%, Hong Kong’s Hang Seng slipping 0.49% and South Korea’s KOSPI dipping 1.47%.

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Sep 20, 2023
Nifty support at 15500, Bank Nifty negative in short-medium term; use Long Straddle in F&O expiry week

By Rajesh Palviya

Nifty extended bearish sentiments for most part of the week dragged it lower to close in negative territory. NSE Nifty 50 index closed at 15782 with a loss of 629 points on a weekly basis. On the weekly chart, the index has formed a long bearish candle forming lower High-Low compared to previous week indicating weakness at current levels. The chart pattern suggests that if Nifty 50 crosses and sustains above 16000 level it would witness buying which would lead the index towards 16400-16700 levels. However if the index breaks below 15650 level it would witness selling which would take the index towards 15400-15100 levels. For the week, we expect Nifty to trade in the range of 16300-15200 with a negative bias .The daily and weekly strength indicator RSI is moving downwards and is quoting below its reference line indicating negative bias.

Nifty futures closed at 15786 on a negative note with 10.16% decrease in the open interest indicating Long Unwinding. Nifty Futures closed at a premium of 5 points compared to the previous day premium of 3 points. FIIs were Buyers in Index Futures to the tune of 2860 crore and were Sellers in Index Options to the tune of 1198 crore, Buyers in the Stock Futures to the tune of 533 crore. Net Buyers in the derivative segment to the tune of 1889 crore.   

                                  

India VIX, the volatility index, is at 23.49 v/s 24.36. Nifty ATM call option IV is currently 24.22 whereas Nifty ATM Put option IV is quoting at 25.82. Index options PCR is at 0.73 v/s 0.63 & F&O Total PCR is at 0.79.

Nifty Put options OI distribution shows that 15800 has highest OI concentration followed by 15500 & 15700 which may act as support for current expiry. Nifty Call strike 16000 followed by 16300 witnessed significant OI concentration and may act as resistance for current expiry.

Bank Nifty Outlook

Bank Nifty Technical Outlook

Bank Nifty started the week with a downward gap and selling pressure for most part of the week led it to close on a negative note. Bank Nifty closed at 33121 with a loss of 1470 points on a weekly basis.

On the weekly chart the index has formed a long bearish candle forming lower High-Low compared to previous week and has closed below its low indicating weakness at current levels . The chart pattern suggests that if Nifty Bank crosses and sustains above 34000 level it would witness buying which would lead the index towards 34800-35500 levels. However, if the index breaks below 33000 level it would witness selling which would take the index towards 32000-31500. Bank Nifty is trading below 20, 50, 100 and 200 day SMA which are important short term moving averages, indicating negative bias in the short to medium term. For the week, we expect Bank Nifty to trade in the range of 34500-32500 with a negative bias.

Bank Nifty Derivative Outlook

Bank Nifty Put options OI distribution shows that 33500 has highest OI concentration followed by 33000 & 32500 which may act as support for current expiry. Bank Nifty Call strike 33500 followed by 34000 witnessed significant OI concentration and may act as resistance for current expiry.

NSE Nifty 50 index trading strategy

India VIX closed at 23.49% up by 11% on weekly basis indicating markets are likely to make a strong move in either of the directions with increased Implied volatility, and to take advantage of the same we are suggesting a market-neutral strategy called Long Straddle for weekly expiry at 19th May 2022.This strategy involves buying of (ATM) CALL & PUT one lot each of 15,800 strike having premium of 172 & 182 respectively garnering in total premium outflow of Rs 17,700 (354 points). As it’s a debit spread, from profit perspective this strategy can generate theoretically unlimited profit while the loss is restricted to total premium paid if Nifty closes exactly at the Long/Short strikes i.e 15,800 on expiry; however once Nifty breaches the upper breakeven level of 16,154 or the lower breakeven level of 15,446 and sustains on either side then the profit can be unlimited. It’s advisable to maintain a combine premium (i.e add premium of call + put together) stop loss of 150-160 points so that if Nifty doesn’t make a strong move then losses can be curtailed by following the above mentioned stop loss or else Traders as per there risk appetite can even hold till expiry. The strategy will generate significant profits once Nifty breaches the range of 16,154 on upside or 15,446 on lower side on the expiry and also closes above or below the break even points.

(Rajesh Palviya, VP – Research (Head Technical & Derivatives), Axis Securities. Views expressed are the author’s own.)

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Sep 19, 2023
FPI flows don’t impact markets: Sebi ED

Foreign portfolio investors (FPIs) have no impact on the markets, according to VS Sundaresan, executive director of Sebi. Strong domestic inflows are now supporting the indices, he said.  

Speaking at Assocham痴 capital markets summit The Re-set of Globalisation: Capital Formation@2047 for New India, Sundaresan said: 典en years back, Indian markets were completely driven by FPI flows. There was a saying ‘When FPIs sneeze, Indian markets get a cold.’ But, today, nobody bothers whether they are putting in or withdrawing money.He added that FPI data are 登nly for publishing in the newspaperswith no relevance to the markets.

He credited Indian market participants for not reacting to every small event, which has ensured volatility in Indian markets is 登ptimum and comparatively low vis-vis other markets. He added that India has strong investor protection mechanisms, which have catalysed retail participation in the markets.

He added that pioneering efforts by the regulator have kept India at the forefront of reforms, citing the USinterest in emulating the T+1 settlement system. He conceded that lack of investor awareness and too much regulation and litigation are certain weaknesses.

Pointing out that self-regulation is the need of the hour, he said the regulator should not be required to issue fresh norms to check malpractices at every step, calling on industry and participants to step up corporate governance policies on their own.

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Sep 18, 2023
Rupee falls 12 paise to close at 82.82 against US dollar

The rupee fell by 12 paise to close at 82.82 (provisional) against the US currency on Tuesday, as market participants remained on the sidelines ahead of the US inflation data.

Forex traders said lower crude oil prices, higher domestic equities and weaker dollar index were unable to support the rupee.

On Monday, the rupee fell by 12 paise to close at 82.70 against the US currency.

Also read: Market Outlook: Nifty, Sensex end higher as traders eye US CPI inflation data for cues

According to Dilip Parmar, Research Analyst, HDFC Securities, the Indian rupee underperformed among Asian currencies amid foreign fund outflows from domestic equities.

“The lower crude oil prices, higher domestic equities and weaker dollar index were unable to push the rupee higher amid lingering worries over high inflation, trade deficit and lower carry,” Parmar said.

Forex traders remained cautious ahead of crucial US inflation figures. Risk appetite in risk-asset was partly helped by a Federal Reserve survey showing that the US wage growth expectations slipped in January, Parmar added.

In the near-term, spot USDINR has resistance at 82.90 and support at 82.40. “We expect the pair could consolidate between 82.90 to 82.40 before heading north,” Parmar added.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.35 per cent lower at 102.98.

Global oil benchmark Brent crude futures declined 0.81 per cent to USD 85.91 per barrel.

The 30-share BSE Sensex ended 600.42 points or 0.99 per cent higher at 61,032.26, while the broader NSE Nifty advanced 158.95 points or 0.89 per cent to 17,929.85.

Also read: FIIs heavily shorting Nifty, index to remain under pressure; IT and Auto sectors look positive

Foreign Institutional Investors (FIIs) were net buyers in the capital market on Monday as they purchased shares worth Rs 1,322.39 crore, according to exchange data.

On the domestic macroeconomic front, the wholesale price-based inflation eased for the eight consecutive month to 4.73 per cent in January on easing prices of manufactured items, fuel and power.

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Sep 18, 2023
Lawngtlai East Mizoram Assembly Constituency Election 2023: Date of Result, Voting, Counting; Candidates

As anticipation mounts for the upcoming Lawngtlai East Constituency Election in Mizoram, voters are eagerly awaiting the big battle that kicks off with the announcement of key dates by the Election Commission of India. Here, we provide you with essential details about the Lawngtlai East Constituency Assembly Election 2023 that every voter should be aware of.

Lawngtlai East Constituency Mizoram Assembly Election 2023: Voting Date

The voting date for the Lawngtlai East Assembly Constituency Election 2023 has been officially announced by the Election Commission. As per the ECI, Lawngtlai East Assembly Constituency will go to polls on November 7. Stay tuned for updates as we bring you the latest information.

Lawngtlai East Mizoram Election 2023: Candidates

Watch this space as prominent political parties, including the Mizo National Front (MNF)Indian National Congress (INC)and Bharatiya Janata Party(BJP) along with others, are poised to reveal their candidates for the Lawngtlai East Assembly Constituency Election 2023 post the official declaration of voting dates by the Election Commission of India.

Stay informed as we bring you the latest updates on the Lawngtlai East Assembly Constituency Election 2023, keeping you abreast of all the developments and insights that matter to you.

Lawngtlai East Constituency MZ Election Result: What happened in 2018

H Biakzaua from Lawngtlai East of Mizoram, won the seat with 8656 votes. He defeated Indian National Congress’ H Zothangliana who had polled 7712 votes. The winning margin was 944 votes.

2018 Lawngtlai East Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesH BiakzauaMizo National Front8656

Candidate List Party Name Votes Gained (Vote %) H Biakzaua Mizo National Front 8656 (48.4%) H Zothangliana Indian National Congress 7712 (43.12%) Vanupa Zathang Bharatiya Janata Party 1086 (6.07%) Mc Lalramchhana Independent 209 (1.17%) C Biakchhunga Independent 164 (0.92%) None Of The Above None Of The Above 58 (0.32%)

Lawngtlai East Constituency MZ Election Result: What happened in 2013

In the Mizoram Assembly election of 2013, H Zothangliana won from the Lawngtlai East seat garnering 8191 votes and defeated Mizo National Front candidate Vanupa Zathang who bagged 7918 votes. The candidate who came third was Zoram Nationalist Party’ F Sangdawna.

H Zothangliana got 8191 votes while Vanupa Zathang got 7918 votes.

2013 Lawngtlai East Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesH ZothanglianaIndian National Congress8191

Candidate List Party Name Votes Gained (Vote %) H Zothangliana Indian National Congress 8191 (48.65%) Vanupa Zathang Mizo National Front 7918 (47.03%) F Sangdawna Zoram Nationalist Party 642 (3.81%) None Of The Above None Of The Above 86 (0.51%)

Lawngtlai East Constituency MZ Election Result: What happened in 2008

H Zothangliana of the INC was the winning candidate from the Lawngtlai East constituency in the MZ Assembly elections 2008, securing 6294 votes while 5383 votes were polled in favour of H Rammawi of the MNF. The margin of victory was 911 votes.

2008 Lawngtlai East Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesH ZothanglianaINC6294

Candidate List Party Name Votes Gained (Vote %) H Zothangliana INC 6294 (41.44%) H Rammawi MNF 5383 (35.44%) Manghmunga Chinzah IND 3363 (22.14%) R Zoramchhana LB 62 (0.41%) Zaliana LJP 56 (0.37%) C Lalbiakthanga IND 31 (0.2%)

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Sep 17, 2023
Gold Price Today, 21 Feb: Gold flat; resilient US economy raises fear of hawkish US Fed, further rate hikes

Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold rate is trading flat on Tuesday despite positive global cues, while the silver rate is down 0.28%. On Multi Commodity Exchange, gold April futures were trading at Rs 56,163 per 10 grams, down Rs 50 or 0.09%. Silver March futures were trading lower by Rs 183 at Rs 65,566 per kg on MCX.

Globally, the yellow metal prices were flat on Tuesday as investors refrained from taking big positions ahead of U.S. economic data that could influence the Federal Reserve’s rate-hike strategy, according to Reuters. Spot gold was up 0.1% at $1,842.37 per ounce, trading in a $4 range. U.S. gold futures firmed 0.1% to $1,852.10.

“Yesterday, U.S. markets were shut because of Washington’s Birthday, hence today we could see some volatility. Investors are now awaiting minutes of the Fed’s latest policy meeting due to be released on Wednesday. Market participants now expect the U.S. central bank to raise benchmark rates above 5% by May, with a peak in rates seen at 5.3% in July. Along with that, focus is also in the U.S. Core PCE data this week. Broader trend on COMEX could be in the range of $1820-1860 and on domestic front prices could hover in the range of Rs 55,820-56,500,” said Manav Modi, MOFSL.

Rising geopolitical tensions could provide critical support for gold

“Gold and silver traded in a tight range on Monday after last week’s fall. The U.S. markets were closed on Monday and the dollar index also traded in a range. Market is waiting for more clues from the U.S. Fed. This week’s speech of the U.S. Fed officials could give more clarity on the U.S. Fed rate hikes in its next month’s policy meetings. Rising geopolitical tensions could provide critical support for gold and eventually push bullion prices higher.

“We expect gold and silver to remain volatile in today’s session. Gold has support at $1828-1819 while resistance is at $1852-1864. Silver has support at $21.55-21.35, while resistance is at $21.98-22.15. In INR terms gold has support at Rs 55,980-55,810, while resistance is at Rs 56,520, 56,700. Silver has support at Rs 65,150-64,520, while resistance is at Rs 66,190–66,580,” said Rahul Kalantri, Mehta Equities.

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Sep 16, 2023
West Tuipui Mizoram Assembly Constituency Election 2023: Date of Result, Voting, Counting; Candidates

As anticipation mounts for the upcoming West Tuipui Constituency Election in Mizoram, voters are eagerly awaiting the big battle that kicks off with the announcement of key dates by the Election Commission of India. Here, we provide you with essential details about the West Tuipui Constituency Assembly Election 2023 that every voter should be aware of.

West Tuipui Constituency Mizoram Assembly Election 2023: Voting Date

The voting date for the West Tuipui Assembly Constituency Election 2023 has been officially announced by the Election Commission. As per the ECI, West Tuipui Assembly Constituency will go to polls on November 7. Stay tuned for updates as we bring you the latest information.

West Tuipui Mizoram Election 2023: Candidates

Watch this space as prominent political parties, including the Indian National Congress (INC)Bharatiya Janata Party (BJP)and Mizo National Front(MNF) along with others, are poised to reveal their candidates for the West Tuipui Assembly Constituency Election 2023 post the official declaration of voting dates by the Election Commission of India.

Stay informed as we bring you the latest updates on the West Tuipui Assembly Constituency Election 2023, keeping you abreast of all the developments and insights that matter to you.

West Tuipui Constituency MZ Election Result: What happened in 2018

Nihar Kanti Chakma from West Tuipui of Mizoram, won the seat with 5943 votes. He defeated Bharatiya Janata Party’ Kina Ranjan Chakma who had polled 3558 votes. The winning margin was 2385 votes.

2018 West Tuipui Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesNihar Kanti ChakmaIndian National Congress5943

Candidate List Party Name Votes Gained (Vote %) Nihar Kanti Chakma Indian National Congress 5943 (45.83%) Kina Ranjan Chakma Bharatiya Janata Party 3558 (27.44%) F Robert Hmingthansanga Mizo National Front 3243 (25.01%) None Of The Above None Of The Above 121 (0.93%) B Vanlalauva Independent 103 (0.79%)

West Tuipui Constituency MZ Election Result: What happened in 2013

In the Mizoram Assembly election of 2013, Nihar Kanti Chakma won from the West Tuipui seat garnering 6914 votes and defeated Mizo National Front candidate Priti Ranjan Chakma who bagged 3580 votes. The candidate who came third was Zoram Nationalist Party’ Lalrinpuia.

Nihar Kanti Chakma got 6914 votes while Priti Ranjan Chakma got 3580 votes.

2013 West Tuipui Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesNihar Kanti ChakmaIndian National Congress6914

Candidate List Party Name Votes Gained (Vote %) Nihar Kanti Chakma Indian National Congress 6914 (63.84%) Priti Ranjan Chakma Mizo National Front 3580 (33.06%) Lalrinpuia Zoram Nationalist Party 180 (1.66%) Zoremsiama Bharatiya Janata Party 101 (0.93%) None Of The Above None Of The Above 55 (0.51%)

West Tuipui Constituency MZ Election Result: What happened in 2008

Nihar Kanti of the INC was the winning candidate from the West Tuipui constituency in the MZ Assembly elections 2008, securing 5052 votes while 3512 votes were polled in favour of Alak Bikash Chakma of the MNF. The margin of victory was 1540 votes.

2008 West Tuipui Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesNihar KantiINC5052

Candidate List Party Name Votes Gained (Vote %) Nihar Kanti INC 5052 (56.73%) Alak Bikash Chakma MNF 3512 (39.43%) Surath Kumar Chakma BJP 192 (2.16%) Rupen Chakma LJP 150 (1.68%)

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Sep 14, 2023
FM Nirmala Sitharaman’s post-Budget address to Sebi Board delayed

Even though finance minister Nirmala Sitharaman addressed the Reserve Bank of India’s Board on Saturday, her customary post-budget address to the Board of the Securities and Exchange Board of India (Sebi) is yet to be scheduled.

Usually, the finance minister addresses both the RBI and Sebi boards on the same day or a couple of days apart. In 2022, Sitharaman addressed the RBI Board on February 14 and the Sebi Board on the 15th of the month.

Also read: Market Outlook: Nifty, Sensex end higher as traders eye US CPI inflation data for cues

The delay is noted wit curiosity this time following the recent release of a report from Hindenburg Research highlighting governance concerns in the Adani Group and the subsequent crash of the stocks of group firms.

On Monday, the Centre agreed to the Supreme Court’s proposal to have a committee of experts to recommend measures to plug loopholes in the regulatory regime to prevent any loss to Indian investors due to market volatilities as was witnessed during the Adani-Hindenburg episode.

Also read: FIIs heavily shorting Nifty, index to remain under pressure; IT and Auto sectors look positive

Meanwhile, SEBI told the Court that it “is already enquiring into both, the allegations made in the Hindenburg report as well as the market activity immediately preceding and post the publication of the report, to identify violations of SEBI Regulations…” including those related to short selling.

Indian regulators are “very experienced” and seized of the matter, Sitharaman had said on Saturday after the RBI Board meeting, on the Adani matter.

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Sep 14, 2023
Dalal Street sell-off may continue, use sell-on-rise strategy; These trades could help investors pocket gains

By Rohan Patil

The Nifty 50 was trading in a flag pattern formation for the last two weeks and formed lower band support at 16900 levels on the daily time frame. The prices on May 4 witnessed a massive sell-off and the index closed below 16900 levels given a breakdown of the bearish flag pattern and further that prices continued to close below its trend line resistance. This week Nifty closed below its 50-week exponential moving average and drift 4 per cent down from its previous week’s close. A 4 per cent weekly close is a massive sell-off which we don’t see often and such type of selling requires weak global clues and a strong news impact. Last week both RBI and FED raise the repo rate by 40 & 50 basis points which impacted the market negatively.

Nifty is continuing to settle below its trend line resistance and below its (21, 50 & 100) day exponential moving averages. All this bearish set-up is indicating sell on the rise strategy for the time being. A sharp over-sold bounce cannot be ruled at the start of the week. The immediate support for the Nifty is placed near 16100 levels and below that the gate is wide open towards 15900 levels. The resistance for the Nifty is capped near 16800 levels.

Bank Nifty support at 34000

Bank Nifty, since April 5, is trading within a lower high lower low formation on the daily chart and on May 6, prices witnessed an upward rising trend line on the daily interval. Same like the Nifty the banking index too drifted 4 per cent on the weekly closing basis indicating a sharp selloff week for the Indian indices. The market is in a dilemma that in an arising interest rate scenario, a more hawkish stance by the RBI going ahead could hurt growth.

After facing strong resistance at the moving average cluster which is placed at 36400 levels prices witnessed a strong reversal on the negative side and closed convincingly below its averages on the daily time frame. The majority of the indicator and oscillator as turned bearish on both daily and weekly charts which indicate a further selling pressure can be seen in the market.

The immediate support for the Bank Nifty is placed near 34000 levels and the upper band of the index is capped at 36000 levels if the banking index is closed below the said levels then the downside for the prices is open till 33500 levels.

ABB: BUYTarget: Rs 2400 | Stop Loss: Rs 2160Return 06.50%

For the past three months, prices have formed a basing formation and in classic technical terms, the stock has formed a bullish inverted head & shoulder pattern on the daily interval.

On May 6, prices have given a decisive breakout above their neckline resistance which is also a breakout of inverted head & shoulder pattern at 2254 levels. The breakout was followed by an above-average volume and prices successfully closed above its 21- day exponential moving average on the daily time frame.

The counter is currently outperforming the Nifty on an absolute basis. The majority of indicators and oscillators are also in bullish range shift mode and reading above their line of polarity.

Mindtree: SELLTarget: Rs 3150 | Stop Loss: Rs 3508Return 06.50%

MINDTREE is trading in a lower high lower low formation which clearly indicates a bearish structure for the counter. The prices have recently broken their horizontal trend line support on the weekly as well as the daily chart.

The recent back to back red candles on the weekly chart has given a breakdown below its 50- week exponential moving average on the weekly interval. We have also observed a gradual increase in the volumes in the last couple of weeks during the breakdown.

We are expecting a stock to continue its downward trend for a few more sessions as an indicator on the daily chart has still left some room on the lower side.

(Rohan Patil is a technical analyst at Bonanza Portfolio. The views expressed are the author’s own. Please consult your financial advisor before investing.)

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