Ripples Advisory Pvt. Ltd. Daily Equity Report 23th Feb 2017

The benchmark BSE Sensex was trading higher by over 90
points as Reliance Industries climbed to a near 8-year high after
investors welcomed plans by its telecom unit to start charging
customers for services.

The index also tracked Asian equities that rose 0.6 per cent,
joining a record-setting session for global markets as investors
cheered upbeat factory activity in Europe and solid earnings on
Wall Street.Domestic sentiment was also buoyed on shortcovering by investors ahead of February month F&O expiry on Thursday.

The 30-share BSE index Sensex was up 90.65 points or 0.32 per
cent at 28,852.24 and the 50-share NSE index Nifty was up
16.65 points or 0.19 per cent at 8,924.50.Shares of Reliance
Industries zoomed 10.14 per cent to Rs. 1,198.60, its biggest
jump since June 2009, as investors cheered the company’s
move to end free telecom services on its Jio platform and start
charging customers from April 1.The stock was the main
Contributor to gains on the NSE index.

Minutes of RBI policy meet Investors were however expected to remain cautious ahead of The release of minutes from a policy meeting by the Reserve Bank of India earlier this month when it held interest rates steady, unexpectedly shifting its policy stance to nteutral from “accommodative.

We can expect to see sorce caution ahead of the release of
RBI’s policy meet minutes later today. However, the overall
sentiment in the market remains positive and we can expect to
see the indexes touching new highs soon.

NSE 470 1023 63 26462.96

NIFTY 50 8982 8951 8925 8895 8870

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