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The breadth of the market favoured declines, with 579 stocks advancing, 1023 declining and 450 remaining unchanged. On BSE, 822 stocks advanced, 1204 declined and 89 remained unchanged. The Nifty and the Sensex are trading on a flat to positive note this Thursday morning with the Nifty down 8 points at 10,663 and the Sensex is trading higher by 29 points at 35,246 . Continuing yesterday's fall of the number of stocks hitting new 52-week low, today also over 300 stocks have already hit fresh 1 year low including names like Adani Power, Amtek Auto, Andhra Bank, Bank of Baroda, Bank of India, Bharat Electronics, BEML, Bharat Heavy Electricals, Ceat, Cummins India, Dena Bank, GATI, GE T&D, Grasim Industries, HCC, HCL Infosystems, Indiabulls Real Estate, IDFC Bank, India Cements, Indian Overseas Bank, India Oil Corporation, Jet Airways, JK Tyre, JK Lakshmi Cements, KRBL, Kwality, Motherson Sumi Systems, NTPC, PTC India Financial, Power Grid, PTC India, Rallis India,...

The RBI informed that the bank can declare the dividend after fully providing for MTM loss, Gratuity and any other provisions staggered in terms of dispensation given by RBI to all the banks. Shares of Indian Bank fell over 3.5 percent on Thursday morning as investors turned cautious on the stock after the lender canceled its dividend of Rs 6 per share . The stock touched an intraday high of Rs 348.70 and an intraday low of Rs 332.00. The bank cited usage of avenues such as spreading of bond losses over four quarters as well as spreading liability due to the enhancement of gratuity limit, to take this step. As per RBI circular, the following options were given in respect of MTM (mark to market) losses and additional liability on Gratuity: • Option to spread 'mark to market' loss on AFS & HFT investments for the quarter ended December 31, 2017, and March 31, 2018, equally over the four quarters commencing with the quarter in which the loss is...

Any rise in crude oil prices is always negative for not only oil marketing companies but also aviation firms. Oil retailers and aviation stocks extended losses with some hitting fresh 52-week lows on Thursday after the crude oil prices increased further on supply disruptions . Hindustan Petroleum Corporation (down 6.5 percent intraday), Indian Oil Corporation (4 percent) and Jet Aireways (3 percent) hit fresh 52-week lows today. Bharat Petroleum Corporation (down 5 percent intraday), SpiceJet (4 percent) and InterGlobe Aviation (1.6 percent) were also under pressure. Any rise in crude oil prices is always negative for not only oil marketing companies but also aviation firms. PSU oil retailers are allowed to pass on rising cost due to higher crude prices to consumers to some extent but beyond a certain limit it would be difficult for those companies to pass on the cost and that hit their profitability. Aviation companies are always dependent upon cru...

Investors need to watch the movement of Nifty in the first few hours of trade on Thursday as it may be volatile and the pain may intensify to lower levels of 10,610 – 10,600. The Nifty5o formed a Bearish Belt Hold pattern on Wednesday as it closed below 10,700 after nearly three weeks of consolidation. A close below the short-term 50-day moving average signals bearishness in sentiments in the short-term. Considering the fact that we have June expiry on Thursday we saw aggressive writing at 10,700 strikes from 10,800 strike which indicate bearishness. Further, a rise in volatility has made traders opting for Puts. With a close below 50-SMA, we expect the bearish momentum to continue. Investors need to watch the movement of Nifty in the first few hours of trade on Thursday as it may be volatile and the pain may intensify to lower levels of 10,610 – 10,600. Here is a list of top three intraday trading ideas for Thursday: Tech Mahindra Ltd: Buy| Target:...

Mitessh Thakkar of mitesshthakkar.com is of the view that one can buy Dabur India with a stop loss of Rs 387.8 and target of Rs 405 and sell DLF with a stop loss of Rs 196.2 and target of Rs 182. The 50-share NSE Nifty opened at 10,785.50 which was also the intraday high for the index which resulted in small lower shadow. The bears took control of D-Street in morning trade itself and pushed the index below its crucial support placed at 10,700 levels. It hit an intraday low of 10,652.40 and then bounced back to marginally close above its 50-day exponential moving average (EMA) placed around 10,670. The index, which is now trading below most of its short-term moving averages such as 5, 13, 20-EMA and 50-DMA, closed down 97.80 points or 0.91 percent at 10,671.40. Most experts feel if the selling pressure extends, then the Nifty may move towards 10,400 levels but if the index bounces back above its 50-DEMA then there could be some relief for bulls on the expiry day. In...

Rajesh Agarwal of AUM Capital recommends buying Tech Mahindra with stop-loss at Rs 699 and target of Rs 733, PVR with stop-loss at Rs 1350 and target of Rs 1389 and Dabur India with stop-loss at Rs 387 and target of Rs 403. The 50-share NSE Nifty opened at 10,785.50 which was also the intraday high for the index which resulted in small lower shadow. The bears took control of D-Street in morning trade itself and pushed the index below its crucial support placed at 10,700 levels. It hit an intraday low of 10,652.40 and then bounced back to marginally close above its 50-day exponential moving average (EMA) placed around 10,670 . The index, which is now trading below most of its short-term moving averages such as 5, 13, 20-EMA and 50-DMA, closed down 97.80 points or 0.91 percent at 10,671.40. Most experts feel if the selling pressure extends, then the Nifty may move towards 10,400 levels but if the index bounces back above its 50-DEMA then there could be some relief...

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.25 percent to a nine-month low in early trade while Japan's Nikkei shed 0.30 percent. Asian stocks slumped to nine-month lows on Thursday on growing worries the US administration's approach to trade is harming global economic growth even as it appeared to be modifying its approach to curb Chinese investments in US technology firms. US oil prices hit a 3-1/2-year high as plunging US crude stockpiles compounded supply worries in a market already uncertain about Libyan exports, a production disruption in Canada and Washington's demands that importers stop buying Iranian crude. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.25 percent to a nine-month low in early trade while Japan's Nikkei shed 0.30 percent. The US S&P 500 lost 0.60 percent on Wednesday to one-month closing low. MSCI's broadest gauge of the world's stock markets fell to its l...