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Australia Stocks edge higher
Mar 14,2017

Australian equity market finished slight higher on Tuesday, 14 March 2017, as gains in the resources and energy sectors offset weakness among banks, healthcare companies and utilities. At the close, the benchmark S&P/ASX 200 index added 1.80 points, or 0.03%, of 5,759.10, while the broader All Ordinaries index grew 3.50 points, or 0.06%, to 5,798.10.

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Nikkei falls 0.12%
Mar 14,2017

The Japan share market finished lower on Tuesday, 14 March 2017, as investors took their cash off the table after the benchmark indices hit 15-month intraday high and due to caution before US Federal Reserves two-day meeting, where officials are expected to lift rates for just the third time in the past decade. At the close, the benchmark Nikkei 225 index slipped 0.12%, or 24.25 points, to finish at 19,609.50, while the Topix index of all first-section issues fell 0.16%, or 2.50 points, to 1,574.90.

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China Stocks up solid economic data
Mar 14,2017

Headline equities of the Mainland China market ended mostly higher on Tuesday, 14 March 2017, as January to February economic data painted a rosier picture of the worlds second largest economy. But gains were capped amid caution ahead of a series of global risk events later this week. The Shanghai Composite Index closed the day up 0.76% at 3,237.02, while the CSI 300 - which tracks the large caps listed in Shanghai and Shenzhen - was up 0.88% at 3,458.10. The Shenzhen Composite Index dropped 0.14% to 2,027.11. The tech-heavy ChiNext declined 0.65% to 1,958.02.

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Hong Kong Stocks mixed before key policy meetings
Mar 14,2017

The Hong Kong stock market closed mixed on Tuesday, 14 March 2017, as many investors stayed on the sidelines ahead of the Federal Reserves two-day monetary policy meeting and as European political uncertainty weighs on sentiment. Investors were awaiting the outcome of the Federal Reserves rate-setting meeting on March 14-15, policy decisions by the Bank of England and Bank of Japan, and also keeping an eye on the Dutch general election and shaky oil prices. The Hang Seng Index closed down 0.01%, or 1.72 points, to 23,827.95, while the Hang Seng China Enterprises index gained 0.55%, or 56.52 points, to 10,315.23. Turnover decreased sharply to HK$72 billion from HK$86.5 billion on Monday.

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Asia Pacific Market: Stocks rebound on upbeat China trade data
Mar 08,2017

Asia Pacific share market closed mixed on Wednesday, 08 March 2017, as strong China trade data bolstered bets of a recovering global economy, though gains were capped by caution ahead of the U.S. Federal Reserves meeting next week where it is widely expected to raise interest rates.

Chinese imports in U.S. dollar terms surged but exports fell slightly in February compared with the same month a year ago, resulting in an unexpected trade deficit, according to data released Wednesday by the General Administration of Customs. However, trade data is usually volatile at the start of the year due to the fall of the Chinese New Year. Chinas exports fell 1.3% year-on-year in February in USD terms, compared with a 7.9% gain in January, while imports surged 38.1%, compared with a 16.7% gain the month before. The resulting $9.15 billion trade deficit for the month was the first monthly deficit since February 2014. This compares with a trade surplus of $51.32 billion in January.

Import growth on a yearly basis last month was mainly due to further rising commodities prices and the distortion of the Chinese New Year holiday which came at end January. Factories started to purchase more raw materials after the CNY holiday to resume production. Imports from the European Union surged 33.8% to $16.44 billion last month, compared with a 7.9% rise in January. A low base also helped with the import surge.

Regarding exports, the pre-holiday rush to meet export orders disappeared after the CNY, which helped reversed the gain in the export growth in January. Exports to key trade partners showed year-on-year falls, according to Customs data. Exports to the U.S. fell 4.2% y/y to $21.72 billion last month, compared with a gain of 6.2% in January. Exports to the European Union declined 5.8% y/y to $21.02 billion, compared with a gain of 2.9% in January. Exports to Japan fell 7.8% y/y to $7.9 billion, compared with a gain of 9.2% in January.

Investors are awaiting cues on the U.S. economy along with the governments payrolls report for February, which is due on Friday, to determine whether a rate hike at the upcoming meeting is a done deal. The Federal Reserve has a policy meeting on March 14-15 and markets have quickly ratcheted up bets of a rate increase at the meeting after recent hawkish comments by US policy makers.

Among Asian bourses

Australia Stocks down, weigh by miners

Australian equity market finished marginally down in choppy trade, as losses by mining stocks and weakness in utilities offset modest gains in the energy sector and most big banks. At the close, the benchmark S&P/ASX 200 index fell 1.70 points, or 0.03%, of 5,759.70, while the broader All Ordinaries index shed 2.40 points, or 0.04%, to 5,799.50.

The materials sector was the biggest single drag on the index, as copper prices retreated overnight after a sudden jump of supply into the London Metal Exchanges warehouses. with major miners like Rio Tinto and BHP down 0.4 and 1.1%, respectively. Iron-ore producer Fortescue Metals Group shed 0.6%. Copper miner Oz Minerals shed 1.8%, after the copper price slid 1.5% overnight.

The gold miners fell after bullion price fell to a one-month low amid prospect of an increase in short-term U.S. interest rates, although prices edged higher Asian trade. Evolution Mining fell 2% and Northern Star Resources lost 2.3%.

The financials sector was well-supported, with the big four banks up between 0.7 and 0.9%, with the exception of the Commonwealth Bank, which closed 0.4% lower.

Brambles, Healthscope and iSentia traded lower after moving ex-dividend, down 1.4, 3.1 and 2.4%, respectively.

Dominos Pizza Enterprises shares closed up 0.4% after the company announced it would audit all of its 740 franchised stories by the end of June to ensure compliance with labour regulations.

Bellamys Australia was down 3.9% after the baby-food maker said a second class action has been filed against it that includes allegations of misleading or deceptive conduct and breaches of its continuous disclosure obligations.

Nikkei falls for fourth day

The Japan share market ended down for fourth straight session, due to growing wait-and-see mood ahead of closely watched events, in particular the U.S. employment data later this week, the final hurdle before the U.S. Federal Reserve monetary policy meeting next week. A fall in the U.S. equities on Tuesday and a halt to the yens weakening against the dollar also weighed on the Tokyo market. But the markets downside was supported by buying on dips and hopes for exchange-traded fund buying by the Bank of Japan. The 225-issue Nikkei average lost 90.12 points, or 0.47%, to end at 19,254.03. The Topix index of all first-section issues closed down 4.79 points, or 0.31%, at 1,550.25.

Drugmakers Astellas, Takeda, Dai-ichi Sankyo, Shionogi and Chugai Pharmaceutical were downbeat, after their U.S. peers met with selling in New York trading on Tuesday following U.S. President Donald Trumps renewed vow to bring down drug prices. Mega-bank groups Mitsubishi UFJ and Mizuho as well as brokerage firm Nomura also finished on the minus side. Other major losers included department store operator Isetan Mitsukoshi, automaker Isuzu and tire maker Sumitomo Rubber.

By contrast, Nintendo attracted purchases, with investors taking heart from brisk sales of its new game console Nintendo Switch, released on Friday. Also on the plus side were home builder Sekisui House as well as insurers Dai-ichi Life and Tokio Marine.

On economic news front- Data from the Cabinet Office showed that Japans gross domestic product expanded 0.3% on quarter in the fourth quarter of 2016. That missed forecasts for an increase of 0.4%, but was up from last months preliminary reading of 0.2%. GDP gained 0.3% in the third quarter. On a yearly basis, GDP was revised up to 1.2% from 1.0%, although that also missed forecasts for 1.5%.

The Ministry of Finance said that Japan had a current account surplus of 65.5 billion yen in January, down 88.9% on year. The headline figure was shy of forecasts for a surplus of 270.0 billion yen and down from 1,112.2 billion yen in December. The trade balance showed a deficit of 853.4 billion yen, missing expectations for a shortfall of 800.2 billion yen following the 806.8 billion yen surplus in the previous month.

China Stocks down on profit booking

Mainland China stock market ended lower, due to profit-taking after a two-day winning streak and lingering concerns over tighter liquidity. The Shanghai Composite Index closed the day down 0.05% at 3,240.66, while the CSI 300 - which tracks the large caps listed in Shanghai and Shenzhen - was down 0.15% at 3,448.73. The Shenzhen Composite Index dropped 0.36% to 2,024.28. The tech-heavy ChiNext declined 0.67% to 1,964.63.

The Peoples Bank of China injected CNY10 billion in seven-day reverse repos, CNY10 billion in 14-day reverse repos and CNY10 billion in 28-day reverse repos via open-market operations on Wednesday. This resulted in a net drain of CNY20 billion for the day, the tenth consecutive trading day that the PBOC has drained liquidity from the market via its OMOs. The PBOC has drained a net CNY60 billion so far this week. A total of CNY50 billion in outstanding reverse repos will mature for the remaining two trading days this week.

Jiangsu Hengrui Medicine, Chinas largest drugmaker by market value, rose 0.4% in Shanghai. The company expects revenues to surge in the second half of this year and plans to expand overseas presence with deals of up to $2 billion, Bloomberg reported, citing Chairman Sun Piaoyang.

The Chinese currency renminbi, or yuan, firmed up against the U.S. dollar despite the Peoples Bank of China set the midpoint rate weaker than the psychologically important 6.9 level for the first time since Jan. 12. The gain was supported by corporate dollar sales as the market locked in profits after the Chinese currency breached the key 6.9-per-dollar level. The Peoples Bank of China set the midpoint rate at 6.9032 per dollar, weaker than the previous fix of 6.8957.

In the spot market, the yuan opened at 6.8995 per dollar and was changing hands at 6.8996 at midday after hitting a low of 6.9045, 47 pips firmer than the previous late session close but 0.05% weaker than the midpoint.

Hong Kong Stocks close higher

The Hong Kong stock market closed up for third straight session, helped by Chinese trade data which fuelled optimism about robust consumption demand. The gain was led by mainland property developers, as well as a jump in ZTE Corp after the Chinese telecom equipment maker agreed to plead guilty in a U.S. sanctions case. The benchmark Hang Seng index added 0.4%, to 23,782.27, while the Hong Kong China Enterprises Index gained 0.5%, to 10,280.31.

An index tracking Chinese property shares surged 3.4%, after the previous days 2.8% gain. Strong sales for February and belied speculation that a property tax was in the offing boosted Chinese real estate stocks, with China Overseas Land & Investment rising 2.7% and China Resources Land advancing 1.7%. Also leading advances in the property sector, Shimao Property jumped 10.6% following a 150% surge in last months sales. China Vanke and China Evergrande Group added at least 3%, extending their climb in the wake of upbeat February sales. China Merchants Land jumped 4.1% after reporting a more than three-fold increase in 2016 net profit. Shimao Property surged 10.6% after UBS Research raised its target price.

ZTE shares jumped around 6%, after it agreed to pay nearly $900 million and plead guilty to criminal charges for violating U.S. laws that restrict the sale of American-made technology to Iran and North Korea.

Heavyweight China Unicom Hong Kong added about 2.2% on news that the telecom operations restructuring reform proposals might soon be approved.

Resource stocks lost 0.3%, bucking the broad trend, as weakness in mainland commodities markets curbed demand.

TVB (00511) dived 3.7% after TLG Movie and Entertainment Group has withdrawn its proposal to make an offer for the shares of TVB.

Indian market ends with modest losses

Indian benchmark indices registered modest losses as investors were cautious ahead of a US Federal Reserve meeting in which policy makers are widely expected to raise interest rates. Investors also awaited outcome of the Uttar Pradesh election results, where a win by Prime Minister Narendra Modis party is expected to strengthen the recent firmness in local equities. The barometer index, the S&P BSE Sensex, fell 97.62 points or 0.34% to settle at 28,901.94. The Nifty 50 index fell 22.60 points or 0.25% to settle at 8,924.30. The Sensex closed below the psychological 29,000 level after slipping below that level in intraday trade. Stocks of public sector banks declined. Metal and mining stocks edged lower.

Market sentiment was also sombre amid weak global cues in the wake of geopolitical tensions in Asia and amid two consecutive days of decline in US stock markets. Geopolitical tensions continued to weigh on market sentiment after North Korea over the weekend launched four missiles into the Sea of Japan. Also, China posting a rare trade deficit in February also added to global growth worries.

Hindalco Industries fell 1.38% to Rs 189.85. The capital raising committee of the company at its meeting held today, 8 March 2017, approved the closure of the issue period for the qualified institutional placement (QIP) today, 8 March 2017. The committee approved the issue price of Rs 189.45 per equity share. The floor price was earlier fixed at Rs 184.45 per share. The announcement was made during market hours today, 8 March 2017.

Tata Steel lost 1.89% to Rs 472.90. Tata Steel UK yesterday, 7 March 2017, informed employees it will close the British Steel Pension Scheme to future accrual with effect from 31 March 2017. From 1 April 2017, employees will save for their retirement through a new and competitive defined contribution pension scheme.

Kotak Mahindra Bank rose 0.88% after the bank said its board of directors has approved increase in ceiling limit for investment by foreign investors in the equity share capital of the bank to 42% from 40% earlier. The announcement was made during market hours today, 8 March 2017.

IndusInd Bank fell 0.23% after the bank said it has opened a branch at Sikar in Rajasthan. With the inauguration of this branch, the bank now has 5 branches in Sikar city. The announcement was made during market hours today, 8 March 2017.

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China Stocks down on profit booking
Mar 08,2017

Mainland China stock market ended lower on Wednesday, 08 March 2017, due to profit-taking after a two-day winning streak and lingering concerns over tighter liquidity. The Shanghai Composite Index closed the day down 0.05% at 3,240.66, while the CSI 300 - which tracks the large caps listed in Shanghai and Shenzhen - was down 0.15% at 3,448.73. The Shenzhen Composite Index dropped 0.36% to 2,024.28. The tech-heavy ChiNext declined 0.67% to 1,964.63.

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Hong Kong Stocks close higher
Mar 08,2017

The Hong Kong stock market closed up for third straight session on Wednesday, 08 March 2017, helped by Chinese trade data which fuelled optimism about robust consumption demand. The gain was led by mainland property developers, as well as a jump in ZTE Corp after the Chinese telecom equipment maker agreed to plead guilty in a U.S. sanctions case. The benchmark Hang Seng index added 0.4%, to 23,782.27, while the Hong Kong China Enterprises Index gained 0.5%, to 10,280.31.

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Nikkei falls for fourth day
Mar 08,2017

The Japan share market ended down for fourth straight session on Wednesday, 08 March 2017, due to growing wait-and-see mood ahead of closely watched events, in particular the U.S. employment data later this week, the final hurdle before the U.S. Federal Reserve monetary policy meeting next week. A fall in the U.S. equities on Tuesday and a halt to the yens weakening against the dollar also weighed on the Tokyo market. But the markets downside was supported by buying on dips and hopes for exchange-traded fund buying by the Bank of Japan. The 225-issue Nikkei average lost 90.12 points, or 0.47%, to end at 19,254.03. The Topix index of all first-section issues closed down 4.79 points, or 0.31%, at 1,550.25.

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Australia Stocks down, weigh by miners
Mar 08,2017

Australian equity market finished marginally down in choppy trade on Wednesday, 08 March 2017, as losses by mining stocks and weakness in utilities offset modest gains in the energy sector and most big banks. At the close, the benchmark S&P/ASX 200 index fell 1.70 points, or 0.03%, of 5,759.70, while the broader All Ordinaries index shed 2.40 points, or 0.04%, to 5,799.50.

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China: Stocks close up
Mar 06,2017

Mainland China stock market closed higher on Monday, 06 March 2017, as investors piled into technology shares after Premier Li Keqiang pledged to support innovative industries such as new materials, artificial intelligence and the biopharmaceutical sector as a key part of the economys restructuring at the annual opening of the countrys parliament. The Shanghai Composite Index closed the day up 0.48% at 3,234, while the CSI 300 - which tracks the large caps listed in Shanghai and Shenzhen - was up 0.54% at 3,446. The Shenzhen Component Index added 1.20% to 10,522. The tech-heavy ChiNext surged 1.79% to 1,963.

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Nikkei falls; yen rallies after N Korea fires missiles
Mar 06,2017

The Japan share market ended down on Monday, 06 March 2017, due to renewed geopolitical concerns after North Korea fired four missiles - three of them landing in Japanese waters. The geopolitical woes shadowed enthusiasm over the possibility of a near-term interest-rate increase by the Federal Reserve. Japanese Prime Minister Shinzo Abe warned the threat from North Korea had entered a new stage following the missile launch, which came after Pyongyang fired a rocket last month. The 225-issue Nikkei average shed 90.03 points, or 0.46%, to finish at 19,379.14. The Topix index of all first-section issues closed down 3.15 points, or 0.20%, at 1,554.90. Rising stocks outnumbered declining ones on the Tokyo Stock Exchange by 1555 to 1420 and 374 ended unchanged. The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was up 0.40% to 17.62.

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Australia Stocks up, driven by miners
Mar 06,2017

Australian equity market finished marginally higher on Monday, 06 March 2017, due to gains in material stocks and financials offset the losses in defensive and energy stocks. The S&P/ASX 200 index finished 0.29%, or 16.899 points, higher at 5,746.5. Falling stocks outnumbered advancing ones on the Australia Stock Exchange by 586 to 485 and 335 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 3.27% to 12.101.

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Asia Pacific Market: Stocks mostly up on Trump relief
Mar 02,2017

Asia Pacific share market closed mostly up on Thursday, 02 March 2017, as investors took heart from record performances of Wall Street overnight, where the Dow Jones industrial average closed above 21,000, after U.S. President Donald Trumps pledge to invest heavily in infrastructure, cut corporate taxes and ease regulations. But, gains on the regional bourses were limited as speculation of capital outflow woes renewed on growing expectations that the U.S. Federal Reserve will raise interest rates this month. The MSCIs broadest index of Asia-Pacific shares outside Japan advanced 0.7%.

The US presidents much-anticipated address on Tuesday, while lacking details, was broadly welcomed as he promised a US$1-trillion (Bt35 trillion) infrastructure splurge and tax cuts - music to bullish investors ears. Global equity markets have thundered along since Trumps November election win as dealers bet his policies would light a fire under the US economy. The fact that he did away with the bellicose rhetoric of the past made him appear more presidential, according to some observers.

While Trump gave few new details on his tax or spending plans, investors were encouraged by what they saw as a measured tone in his first speech to Congress as he tries to push his growth agenda through a Congress reluctant to widen the governments budget deficit. On Wall Street, the Dow blasted through the 21,000 mark for the first time, and the three main stock indexes surged more than 1.3% to close at record highs.

Among Asian bourses

Australia Stocks gains on Trump speech

Australian equity market finished higher for the first time in six consecutive sessions, as sentiment was supported by a combination of stronger global manufacturing activity and strong gains in Wall Street overnight after a pledge by US President Donald Trump to boost economic growth. The S&P/ASX 200 index was up 1.3%, or 71.804 points, to 5,776.60 at the close of trade, led by financials and material stocks.

Mining stocks led broad gains, rebounding from weakness in recent sessions, while the four biggest banks collectively added almost 16 points to the ASX 200. Among Australian mining stocks, South32 rallied 9.2% while BHP Billiton and Rio Tinto gained 3.3% and 3.5%, respectively. Commonwealth Bank led the big banks, with a rise of 1.3%, while Westpac Banking, Australia & New Zealand Banking and National Australia Bank each added at least 1%.

On the losing ledger, telecom stocks ended lower, with sector giant Telstra extending losses from the previous session, finishing 1.5% lower, after trading ex-dividend.

Nikkei gains on strong Wall Street, weak yen

The Japan share market ended at a two-month high, as investors took heart from robust gains on Wall Street overnight and yen depreciation against the U.S. dollar. Every industry category on the main section gained ground, led by insurance, securities, and iron and steel issues. Tokyos benchmark Nikkei 225 index climbed 0.88%, or 171.26 points, to close at 19,564.80, its highest close since Jan. 5, while the Topix index of all first-section issues tacked on 0.75%, or 11.60 points, to end at 1,564.69.

The nonferrous metal sector was boosted by hopes Trumps pledge to invest $1 trillion for infrastructure development would bring new business opportunities. Mitsubishi Materials rose 110 yen, or 3.0%, to 3,810 yen, while Sumitomo Metal Mining gained 41.50 yen, or 2.6%, to 1,610.50 yen.

Financial issues were also among the gainers, tracking rises of overseas counterparts on early rate hike hopes. Mitsubishi UFJ Financial Group rose 14.80 yen, or 2.0%, to 763.00 yen, Nomura Holdings increased 11.20 yen, or 1.5%, to 753.10 yen and Dai-ichi Life Insurance ended the day up 87.00 yen, or 4.0%, at 2,256.50 yen.

Showa Denko bucked the trend, dropping 144 yen, or 7.1%, to 1,880 yen after the chemical product maker said it would again postpone its release of financial results for the business year ended December due to a need for a closer review of a potentially inappropriate business transaction at a subsidiary.

China Stocks close down

Mainland China stock market closed lower, dragged down by infrastructure and real estate stocks, after a poll showed growth in Chinas home prices will slow significantly on continuing government curbs and tighter credit conditions in 2017. At the close, the benchmark Shanghai Composite Index lost 0.52% to 3,230.03 points. The blue-chip CSI 300 index declined 0.67% to 3,435.10 points. The Shenzhen Component Index edged down 0.5% to 10,367.3. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, slumped 0.60% to 1,920.40 points.

Most sectors fell, led by infrastructure and real estate stocks, after a poll showed Chinas house price growth will slow significantly on continuing government curbs and tighter credit conditions this year.

SF Express shares dropped 3% to 67.9 yuan, amid mainland media reports that Chinese authorities were closely watching the logistics and delivery service provider, which has risen sharply since completing a back-door listing last week.

The Chinese currency renminbi, or yuan, weakened against the U.S. dollar after the Peoples Bank of China set the midpoint rate softer, inline with dollar strength in international market amid growing expectations that the U.S. central bank will raise interest rates later this month.

Financial markets in China and around the world are also awaiting policy clues from the National Peoples Congress (NPC) parliamentary session that is set to start on Sunday. Premier Li Keqiangs annual work report is expected to include key economic targets for the year, including gross domestic product and money supply growth, while other speeches and reports will set out top policy priorities for the year. Chinese authorities usually keep the yuan relatively steady during high-profile political events.

The Peoples Bank of China set the yuans midpoint rate at 6.8809 per dollar prior to the market open, weaker than the previous fix of 6.8798. In spot market trading, the yuan opened at 6.8850 per dollar and was changing hands at 6.8836 at midday, 12 pips weaker than the previous late session close and 0.04% weaker than the midpoint.

Hong Kong Stocks surrender gains on profit-taking

The Hong Kong stock market closed down after wiping out initial gains, as some investors took advantage of the upbeat market to lock in profits. The change of direction in the afternoon was partly triggered by bearish sentiment on the mainland, where investors were worried about liquidity amid growing expectations that the U.S. Federal Reserve will raise interest rates this month. The Hang Seng Index fell 0.2% or 48.4 points to 23,782.1 while the Hang Seng China Enterprises Index dropped 0.4% to 10,246.9. Market turnover on the Hong Kong main board was HK$82.1 billion, slightly higher than Wednesdays HK$76.2 billion.

Expectations for a US interest rate increase in March have grown after Fed officials, including dovish Fed Governor Lael Brainard, showed their support for a rate rise n++soonern++. The markets have now shifted their focus to an address by US Federal Reserve chairwoman Janet Yellen on Friday which may offer clues on the possible interest rate rise.

Stocks sensitive to a US rate hike were affected, either positively or negatively. Banks were among the best performers, with Standard Chartered jumping 2.3% and HSBC adding 1.0%. However, property developers were under pressure. Cheung Kong Property was the biggest loser among the HSI 50, dropping 1.6% to HK$52.3. Sun Hung Kai Properties weakened 1.1% to HK$ 114.3 and Wheelock & Co declined 1.5% to HK$51.2. Chinese Estates Holdings edged 0.2% lower to HK$11.9, in line with the benchmark, after controlling shareholder Joseph Lau Luen-hung transferred his stake in the company to his wife and son due to a n++very unstable health conditionn++.

Markets are also paying attention to the National Peoples Congress meeting, an annual parliament-style gathering of delegates from all over China, during which Premier Li Keqiang is due to declare the nations annual growth target, fiscal budget and work focus for the government in 2017. Issues including environmental protection and state-owned enterprise reform are expected to be widely discussed during the meeting. Related shares rallied, with Kangda International Environmental jumping 6.8% to HK$2.1 and Guangdong Investment adding 2.3% to HK$10.8. China Water Industry Group increased 1.3% to HK$1.6 while China Water Affairs Group added 0.6% to HK$5.0.

Indian Market retreats after striking almost two-year high

Key Indian benchmark indices retreated from almost two-year highs as profit booking emerged at higher levels. The barometer index, the S&P BSE Sensex, lost 144.70 points or 0.50% to settle at 28,839.79. The Nifty 50 index fell 46.05 points or 0.51% to settle at 8,899.75. The Sensex settled below the psychologically important 29,000 mark after trading above that level for most part of the trading session. Key equity benchmarks were weighed by slide in shares of index heavyweight and cigarette maker ITC and bank stocks.

Tata Motors rose 2.66%. The companys total sales rose 2% to 47,573 vehicles in February 2017 over February 2016. The companys domestic sales of Tata commercial and passenger vehicles rose 3% at 42,679 units in February 2017 over February 2016.

Car major Maruti Suzuki India shed 0.04%. The company announced during market hours today, 2 March 2017, that its top-selling urban compact SUV Vitara Brezza has crossed one lakh cumulative sales milestone in the domestic market.

Eicher Motors fell 1.11%. The company said that sales volume of VE Commercial Vehicles, an unlisted subsidiary of Eicher Motors rose 9.28% to 5,499 units in February 2017 over February 2016.

Hero MotoCorp rose 1.37%. The company reported 4.75% drop in sales of 524,766 units of two-wheelers in the month of February 2017 over February 2016. Majority of Hero two-wheelers had already been made BS IV compliant quite sometime back and the company has fully transitioned to producing only BS IV vehicles across the range from 1 March 2017.

Bajaj Auto rose 2.12%. The company said its total vehicles sales rose 0.37% to 2.73 lakh units in February 2017, compared to 2.72 lakh units in February 2016. The companys sales from domestic market declined by 8% to 1.59 units in February 2017 over February 2016. While sales from export increased by 16% to 1.14 lakh units in February 2017 over February 2016. Sales from motorcycles segment grew 4% to 2.44 lakh units in February 2017 over February 2016.

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Australia Stocks gains on Trump speech
Mar 02,2017

Australian equity market finished higher for the first time in six consecutive sessions on Thursday, 2 March 2017, as sentiment was supported by a combination of stronger global manufacturing activity and strong gains in Wall Street overnight after a pledge by US President Donald Trump to boost economic growth. The S&P/ASX 200 index was up 1.3%, or 71.804 points, to 5,776.60 at the close of trade, led by financials and material stocks.

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China Stocks close down
Mar 02,2017

Mainland China stock market closed lower on Thursday, 02 March 2017, dragged down by infrastructure and real estate stocks, after a poll showed growth in Chinas home prices will slow significantly on continuing government curbs and tighter credit conditions in 2017. At the close, the benchmark Shanghai Composite Index lost 0.52% to 3,230.03 points. The blue-chip CSI 300 index declined 0.67% to 3,435.10 points. The Shenzhen Component Index edged down 0.5% to 10,367.3. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, slumped 0.60% to 1,920.40 points.

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