NIFTY FIFTY : - The market has opened flat on Monday with negative bias on a very crucial week. The Nifty is up 2.85 points at 7213.60. The Nifty was traded up 35 points , After the global rating agency Moody’s pegged India’s growth at 7.5% for next two years. Asian share markets edged cautiously higher on Monday as investors awaited a rush of February industry surveys to take the pulse of the global economy, while sterling suffered on concerns the UK might yet vote to leave the European Union. US oil prices fell as much as 5 percent on Tuesday after Saudi Oil Minister Ali Al-Naimi ruled out any production cuts , The market has opened sharply lower on Wednesday, tracking weak global cues. The Nifty declined 34.85 points or 0.49 percent to 7074.70. Asia stocks traded mostly down, with a combination of low oil prices, concerns over China and weak overnight data weighing on investor sentiment and miss in the US consumer confidence index. All eyes would be on the ongoing Budget session of Parliament. The Nifty50 traded on a cautious note on Thursday ahead of Rail Budget and February future & option expiry. The Support for Nifty is 6950-6820 and Resistance for Nifty is 7080-7200.


BANK NIFTY : - The Bank Nifty give Gap Down opening on Monday at 14331 by 13 points. The Bank Nifty is currently trading at 13853. Chunky loans from large public sector unit banks have driven the surge in non-performing assets in banking System , At Rs 4 lakh crore, bad loans exceed market value of PSU banks , investors carry the burden of Rs 150 as bad loans, which have cumulatively ballooned 1.5 times the market value of these lenders. The step has taken by RBI and the Govt. to overcome the debt of PSU Banks through the Strategic Debt Restructuring , The Support for Bank Nifty is 13400-12900 and Resistance for Bank Nifty is 14000-14600.

NSE - WEEKLY NEWS LETTERS
TOP NEWS OF THE WEEK
FinMin releases Rs. 4 lakh crore to states under tax devolution - The Union Government accepted the recommendations of the Fourteenth Finance Commission under which there was a phenomenal increase in the tax devolution to the States due to increase of share in the divisible pool of taxes from 32% to 42%. As per its commitment, in the Union Budget for 2015-16, the Ministry of Finance made a provision of Rs. 5.24 lakh crore under devolution of taxes to States as compared to the allocation of Rs.3.38 lakh crore in 2014-15. So far, Rs. 411681.66 crore has been released to the States by way of tax devolution and as per convention, three more installments will be released in March 2015 based on the tax collections till then.

Forex reserves rises by $347.20 mn - India’s foreign exchange reserves surged by $347.2 mn in the week ended February 12 to $351.83 billion, according to RBI data. Gold reserves remained unchanged. Foreign currency assets rose by $1.58 billion.

Infra sector expects higher budgetary allocations towards specified infra projects - Pre-Budget Expectations on Infrastructure Sector, The infrastructure sector expects higher budgetary allocations towards specified large infrastructure projects such as Bullet trains, Dedicated Freight Corridors, Bharat Mala, Sagar Mala, Smart Cities, low-cost airports, inland waterways development, etc. Compliance with Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act has increased the land acquisition cost and is now estimated to be in the range of Rs. 1,800-1,950 billion over next three odd years. This coupled with ambitious target execution rate of 30 km/day would require doubling the budgetary allocation for the road sector alone.

Budget session likely to get off to a stormy start on Feb 23 - After Prime Minister Narendra Modi's meeting with leaders of opposition parties on February 16, Parliamentary Affairs Minister M Venkaiah Naidu will hold another all-party meeting tomorrow to reach out to political rivals for smooth functioning of Parliament. The same day, Lok Sabha Speaker Sumitra Mahajan will also hold consultations with leaders of all parties in the House. A meeting of the Congress Working Committee has been convened by party chief Sonia Gandhi on the eve of the session. The deliberations at the meeting is expected to set the tone for the Budget session. At the Monday meeting, Congress will finalize its floor strategy for the session. Chairing a meeting of leaders of all parties from Rajya Sabha, Chairman Hamid Ansari yesterday reminded them "time has come to assure the public that parliamentary democracy does work and is sensitive to the needs of the people." The remarks come in the backdrop of last two sessions being a virtual washout with the opposition and government locking horns over a number of issues including the key reform measure of GST.

7.6% GDP outlook is significant : Shaktikanta Das - India's growth projection for the current fiscal is "very, very significant", Shaktikanta Das has said and promised more measures to boost economic growth. "India remains a bright spot amid the global slowdown. We live in a global village. Therefore, whatever happens in any part of the world affects us because India over the last several years is getting increasingly globalised," economic affairs secretary Shaktikanta Das said on the finance ministry's on Monday

Budget 2016: Down to the wire, Finance Minister Arun Jaitley to meet economists - In an unconventional move, Finance Minister Arun Jaitely will meet economists and market experts on Saturday, barely 48 hours ahead of his Budget speech on Monday. Minister of State Jayant Sinha and other key Finance Ministry officials will be part of the meeting, sources said. While the agenda is under wraps, it is learnt that the Finance Ministry sent out invitations over email on Tuesday for the 90-minute meeting that is scheduled to start at 11 am. “The meeting is aimed at sensitising economists about the backdrop in which the expenditure budget has been prepared and to make them appreciate the difficult situation,” an official source said.

Rail budget to unveil massive plan with increased outlay of Rs 1.25 lakh crore - The Railway Budget 2016 is likely to unveil massive capacity creation plan in the sector with an increased outlay of about Rs. 1.25 lakh crore, as per reports. Safety upgradation, electrification, doubling and modernisation of yards is considered as the top priority this budget session. Reports state that Railway Minister Suresh Prabhu will have to depend on the External Budgetary Resources for the execution of this plan since the projects are likely to be funded by EBR.

Indian PSU banks need more Govt fund to susutain credit profile: Moody's - Moody's Investors Service says that the credit profiles of Indian public sector banks will worsen, if the government does not revise upwards its capital infusion plan for the banks in the Indian upcoming budget to be presented on 29 February 2016. "While the reported NPLs of the 11 public sector banks that we rate registered a significant 0.9%-4.1% increase in the most recent quarter ended 31 December 2015, Moody's view of the true underlying asset quality of these banks has remain unchanged, "says Srikanth Vadlamani, a Moody's Vice President and Senior Credit Officer.



For Quick Trial – 08962000225
Or mail us here: [email protected] or visit http://www.ways2capital.com/free-trial.php
Contact 0731-6554125
Toll Free – 1800-3010-2007
Give a Missed Call for Free Trial - 09699997717
For Reports And Tracksheets - http://www.ways2capital.com/downloads.php