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Hong Kong Stocks falls on profit booking
Feb 24,2017

The Hong Kong stock market closed down on Friday, 24 February 2017, dragged down by profit-taking, which offset a rally in telecommunication and aviation stocks. The Hang Seng Index closed 0.6% lower at 23,965.7, while the Hang Seng China Enterprises Index ended 1% lower to 10,418.7. Total turnover on the main board decreased slightly to HK$80.4 billion from HK$81.8 billion on Thursday. For the week, the index lost 0.3%.

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China Stocks close flat
Feb 24,2017

Mainland China stock market closed virtually flat after reversing initial losses on Friday, 24 February 2017, as reform hopes continued to support risk appetite buying. Sector performance was mixed, with gains were led by logistics and transport stocks, while losses were led by material stocks. The Shanghai Composite Index closed up 0.1% to 3,253.4. The large-cap CSI 300 Index rose 0.02% to 3,473.9, the Shenzhen Component Index gained 0.1% to 10,443.7, and the Nasdaq-like ChiNext increased 0.7% to 1,938.4. For the week, the Shanghai Composite Index gained 1.6%, extending its rising trend for the third consecutive week.

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Nikkei falls on strong yen
Feb 24,2017

The Japan share market settled down for third straight trading session on Friday, 24 February 2017, as risk sentiments weighed down by the yens strength against greenback after U.S. Treasury Secretary Steven Mnuchin expressed caution about the strength of the dollar, while an uncertain outlook for U.S. economic stimulus weighed on investor sentiment. Shares were also affected by uncertainty over the European political environment ahead of key elections in France and Germany. The 225-issue Nikkei Stock Average ended down 87.92 points, or 0.45%. The 225-issue Nikkei Stock Average ended down 87.92 points, or 0.45%, to 19,283.54. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 6.11 points, or 0.39%, lower at 1,550.14.

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Australia Market ends down
Feb 24,2017

Australian equity market ended down on Friday, 24 February 2017, following the lacklustre cues from Wall Street overnight, with materials and resources stocks leading retreat on sliding iron ore and copper prices. At the close, the benchmark S&P/ASX 200 index dropped 45.70 points, or 0.79%, of 5,739, while the broader All Ordinaries index shed 45.60 points, or 0.78%, to 5,786.90. The benchmark ended down 1.3% on the week.

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Australia Miner weighs down stocks
Feb 24,2017

Australian equity market ended down on Friday, 24 February 2017, following the lacklustre cues from Wall Street overnight, with materials and resources stocks leading retreat on sliding iron ore and copper prices. At the close, the benchmark S&P/ASX 200 index dropped 45.70 points, or 0.79%, of 5,739, while the broader All Ordinaries index shed 45.60 points, or 0.78%, to 5,786.90. The benchmark ended down 1.3% on the week.

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Asia Pacific Market: Stocks gain on positive offshore cues
Feb 22,2017

Asia Pacific share market mostly higher on Wednesday, 22 February 2017, as sentiments were lifted by record-setting US markets overnight. However, gains on the regional benchmark indices were muted as investors await policy details from the Trump administration on tax reforms and deregulation. MSCIs broadest index of Asia-Pacific shares outside Japan rose 0.5%.

The Dow Jones industrial average hit a record closing high for the eighth consecutive session in New York on Tuesday, after a three-day weekend, on the back of strong results by Wal-Mart and Home Depot.Financial markets are waiting on the Feds Jan. 31-Feb. 1 policy meeting minutes due later in the day for fresh hints on the central banks stance towards interest rates. Many market players agreed that the minutes will reveal no major differences from Fed Chair Janet Yellens recent congressional testimony.

In commodities, crude extended gains from the previous day when it touched 1-1/2-month peaks on OPECs optimism for greater compliance with its deal with other producers including Russia to curb output. Brent crude rose 0.5% to $56.92 a barrel and U.S. crude added 0.4% to $54.53 a barrel.

Among Asian bourses

Australia Market ends up

Australian equity market ended higher in choppy trade, as gains in the Consumer Staples, Healthcare and Industrials sectors led shares higher. At the close, the benchmark S&P/ASX 200 index added 14.10 points, or 0.24%, of 5,805.10, while the broader All Ordinaries index rose 14.70 points, or 0.25%, to 5,850.10.

The big four banks were mostly higher. ANZ Banking, Westpac and National Australia Bank were higher in a range of 0.5% to 0.7%, while Commonwealth Bank was down 0.3% as its shares traded ex-dividend.

Fortescue Metals posted a sharp increase in profit for the first half of the year, reflecting a rebound in iron ore prices and lower interest costs. However, shares of the miner, which also said it will more than triple its interim dividend payment, was down 2.7%.

Investors were unimpressed with BHP Billiton after the worlds biggest miner reported, at the close of market yesterday, that it had bounced back to profitability in the six months to December, with a rebound in prices for iron ore, coal and petroleum contributing to a profit of $US3.2 billion ($A4.2 billion). Its shares were down 0.7%.

Woodside Petroleum closed 0.1% up after the company said its full-year profit surged from last year, when results were weighed down by large writedowns. The energy giant announced its full-year profit had skyrocketed to $US868 million ($A1.1 billion), from $US26 million a year earlier. The company also raised its final dividend.

Woolworths shares inclined 4.4% after the company reported a turnaround to profit in the first half and expects to complete the review of its BIG W strategy in the next few months.

Fairfax Media shares were up 8% after news that the media group is aiming to boost shareholder returns by spinning off Domain into a separate ASX-listed business.

Blackmores recorded a 41% fall in first-half profit due to a slump in Australian vitamin sales. The vitamins and nutritional supplements makers shares were losing more than 9%.

Vocus Groups shares gained 7% after the telecom operator reported a 95% surge in first-half net profit on a five-fold jump in revenue.

Nikkei ends flat

The Japan share market settled marginally down, as risk sentiments weighed down by the yens strength against greenback, uncertainty over European politics--and especially the French presidential election, and on caution ahead of the minutes of the U.S. Federal Reserves latest meeting for clues for interest rate hikes. The 225-issue Nikkei average edged down 1.57 points, or 0.01%, to finish at 19,379.87. On the other hand, the Topix index of all first-section issues closed up 1.49 points, or 0.10%, at 1,557.09.

Financials were lower as uncertainty over European politics--and especially the French presidential election--pushed haven assets like government bonds. Lower government bond yields decrease financial firms profit margins. Nomura Holdings Inc. lost 0.7% to 750.0 yen. Major insurer Sompo Holdings Inc. fell 0.5% to Y4,350.

Steel stocks were among the best performers. JFE Holdings Inc. rose 3.0% to Y2,228.0. Nippon Steel & Sumitomo Metal Corp. gained 1.8% to Y2,871.5.

Among other individual stocks, e-commerce company Rakuten Inc. rose 9.4% to Y1,129.5 after the company announced a share repurchase program. Rakuten said it will buy back 8.4% of total shares outstanding, excluding treasury stock, for a maximum acquisition value of 100 billion yen. Shares have trended lower since Feb. 13, when the company posted a 15% profit decrease for 2016.

Toshiba Corp. rose 22% to Y224.7 following a Nikkei business daily report that the company has asked potential bidders for its memory-chip business to value the asset at a minimum Y2 trillion yen ($17.6 billion). The firm on Tuesday said it has completed the 31.4 billion yen sale of its medical finance unit to copier and camera maker Canon.

China Stocks close near 3-month peak

Mainland China stock market rose for a third straight day to approach three-month highs, as risk sentiments boosted by reports that wealth management products (WMPs) might be allowed to invest in the stock market directly after a united regulation system covering WMPs was proposed. Most sectors were largely unchanged, with gains were led by material and consumer shares. At the close, the blue-chip CSI 300 index inched up 0.2% to 3,489.76 points. The benchmark Shanghai Composite Index added 0.24% to 3,261.22 points, while the Shenzhen Component Index finished 0.37% higher at 10,444.38 points. The ChiNext, the countrys NASDAQ equivalent, slipped 0.06% to 1,919.97 points.

Shares in Jiangsu Wujiang Rural Commercial Bank tumbled 9.1%, the biggest one-day loss since it was listed in late November 2016.

Real estate stocks barely moved after data showed home price growth slowed for the fourth straight month as demand cooled further in Chinas biggest cities.

On the currency news front- The Chinese currency renminbi, or yuan, was slightly up against the U.S. dollar even after the Peoples Bank of China set the fixing rate weaker for a third consecutive day. The PBOC set the yuan central parity at 6.8830, compared with 6.8790 on Tuesday. The yuan was last at 6.8795 against the U.S. unit, compared with the official closing price of 6.8826 on Tuesday.

Hong Kong Stocks ends near 18-1/2-month high

The Hong Kong stock market closed near 18 and a half months high, as sentiments were lifted by record-setting US markets overnight, firmer domestic economic growth outlook, and stronger inflows from the mainland. The benchmark Hang Seng index went up 0.99% to 24,201.96 points. Hong Kong China Enterprises Index gained 1.2% to 10,537.58. Turnover increased to HK$92.5 billion from HK$87.7 billion on Tuesday.

Market sentiments were lifted on news that Hong Kong granted out billions in tax cuts & poverty relief on Wednesday, to encourage its economy that is expected to grow more strongly than expected at 2-3% this year.

Shares of Chinese developers listed in Hong Kong were higher. According to Chinas latest data, property price growth of newly built commodity housing in 70 major cities for January showed a slowdown. CR Land (01109) put on 5% to HK$22. China Overseas (00688) climbed 3.6% to HK$24.45. New World (00017) added 3.5% to HK$9.78 after the developer reported 2016 interim earnings grew 31% to HK$4.34 billion.

Kunlun Energy (00135) issued profit warning. The stock gained 1.3% to HK$6.87. CCB (00939) shot up 2.4% to HK$6.45, boosted by news that overall NPLs dropped for mainland commercial banks. ICBC (01398) also added 2.2% to HK$5.18.

Sensex, Nifty hit more than five-month closing high

A surge in index heavyweight Reliance Industries (RIL) and positive global stocks helped key benchmark indices register modest gains today. The barometer index, the S&P BSE Sensex, rose 103.12 points or 0.36% to settle at 28,864.71. The Nifty 50 index rose 19.05 points or 0.21% to settle at 8,926.90.

Index heavyweight Reliance Industries (RIL) surged 10.97% to Rs 1,207.65 as investors anticipated revenue generation for its telecom venture Jio starting from 1 April 2017. The company said that its subsidiary Reliance Jio Infocomm (RJIL) has breached the 100 million customer mark in 170 days. Jio announced that in addition to its own market leading tariff plans, it will also offer its customers the option to choose the highest selling tariff plan of any of the other leading Indian telecom operators, but with 20% more data than what any other operator provides. The announcement was made at the fag end of market hours yesterday, 21 February 2017.

Bharti Airtel declined 0.56%. The company announced that it has through its subsidiary Bharti Airtel Services, acquired a strategic stake in Seynse Technologies, a financial technology company for undisclosed sum. The announcement was made during market hours today, 22 February 2017. The investment was completed by the company. Turnover of Seynse as on 31 March 2016 was Rs 6.53 lakhs and had 41 employees.

Jindal Steel & Power rose 0.78%, with the stock extending recent rally. Shares of Jindal Steel & Power (JSPL) had risen 24.30% in five trading sessions to settle at Rs 109.45 yesterday, 21 February 2017, from its close of Rs 88.05 on 14 February 2017.

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Australia Market ends up
Feb 22,2017

Australian equity market ended higher in choppy trade on Wednesday, 22 February 2017, as gains in the Consumer Staples, Healthcare and Industrials sectors led shares higher. At the close, the benchmark S&P/ASX 200 index added 14.10 points, or 0.24%, of 5,805.10, while the broader All Ordinaries index rose 14.70 points, or 0.25%, to 5,850.10.

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Nikkei ends flat
Feb 22,2017

The Japan share market settled marginally down on Wednesday, 22 February 2017, as risk sentiments weighed down by the yens strength against greenback, uncertainty over European politics--and especially the French presidential election, and on caution ahead of the minutes of the U.S. Federal Reserves latest meeting for clues for interest rate hikes. The 225-issue Nikkei average edged down 1.57 points, or 0.01%, to finish at 19,379.87. The Topix index of all first-section issues closed up 1.49 points, or 0.10%, at 1,557.09.

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Hong Kong Stocks ends near 18-1/2-month high
Feb 22,2017

The Hong Kong stock market closed near 18 and a half months high on Wednesday, 22 February 2017, as sentiments were lifted by record-setting US markets overnight, firmer domestic economic growth outlook, and stronger inflows from the mainland. The benchmark Hang Seng index went up 0.99 percent to 24,201.96 points. Hong Kong China Enterprises Index gained 1.2% to 10,537.58. Turnover increased to HK$92.5 billion from HK$87.7 billion on Tuesday.

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China Stocks close near 3-month peak
Feb 22,2017

Mainland China stock market rose for a third straight day to approach three-month highs on Wednesday, 22 February 2017, as risk sentiments boosted by reports that wealth management products (WMPs) might be allowed to invest in the stock market directly after a united regulation system covering WMPs was proposed. Most sectors were largely unchanged, with gains were led by material and consumer shares. At the close, the blue-chip CSI 300 index inched up 0.2% to 3,489.76 points. The benchmark Shanghai Composite Index added 0.24% to 3,261.22 points, while the Shenzhen Component Index finished 0.37% higher at 10,444.38 points. The ChiNext, the countrys NASDAQ equivalent, slipped 0.06% to 1,919.97 points.

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Strong finish for US stocks
Feb 22,2017

U.S. stocks rallied on Tuesday, 21 February 2017 with major indices simultaneously closing at records for a second session in a row on the back of gains in defensive sectors and energy, even as concerns remained about the markets valuation.

The Dow Jones Industrial Average rose 0.6%, or 118.95 points, to a record 20,743.00. The Nasdaq Composite Index added 27.37 points, or 0.5%, to close at a record 5,865.95. The S&P 500 index rose 0.6% to finish at a record 2,365.38, a gain of 14.22 points, led by 1% or more gains in defensive sectors like real estate, utilities, and consumer staples. The Nasdaq Composite Index added 27.37 points, or 0.5%, to close at a record 5,865.95.

Stocks finished near their highs of the session with the days gains broad as all 11 of the S&P 500s sectors finished higher. Gains in Dow were led by gains in Wal-Mart Stores and UnitedHealth Group. Tuesday marked the eighth straight session of closing records for the blue-chip average.

The market has been in a pronounced uptrend since the election of Donald Trump in November. Investors are hoping that the policies he is expected to pursue, including tax cuts and deregulation, will accelerate economic expansion and lift corporate profits. Trumps recent suggestions that policies would be unveiled soon have spurred recent buying, although few details have emerged.

In the latest economic data, Markits read on manufacturing fell in February, as did the firms services gauge.

Equity indices came out of the gate strong this morning, rallying on an uptick in crude oil and the highest eurozone composite PMI reading in nearly six years. But the stock market hit a speed bump in front of the 12:00 pm ET speech from Philadelphia Fed President Patrick Harker who is a voter on this years FOMC. The speech turned out to be a non-event as Mr. Harker didnt provide any new information, reiterating his belief that three rate hikes are appropriate for 2017.

After trending sideways in the wake of Mr. Harkers comments, the major averages regained their momentum late in the afternoon session to hit fresh session highs going into the close.

Bullion prices ended lower at Comex on Tuesday, 21 February 2017 at Comex. Gold prices on Tuesday closed at break-even levels, confounding some market players as the commodity pared an earlier loss in the session, even as U.S. equities resumed their record run and the dollar strengthened.

April gold slipped 20 cents, or less than 0.1%, to settle at $1,238.90 an ounce, after trading as low as $1,226.80, earlier in the session. May silver also reduced an earlier decline to settle down 2.9 cents, or 0.2%, at $18.074 an ounce on Tuesday.

The ICE U.S. Dollar Index was up 0.5% at 101.4000. A stronger dollar usually provides a headwind to dollar-pegged assets, making them less attractive to buyers using other monetary units.

Crude-oil futures settled sharply higher on Tuesday, 21 February 2017 as investors bid up futures contracts on the heels of growing optimism about compliance to a global pact to curb crude output. However, oil finished off its best levels as talk of a six-month extension to that global production agreement was played down by an OPEC official on Tuesday, and natural-gas futures settled at a nearly six-month low amid a bout of warm weather.

West Texas Intermediate for April delivery n++ the U.S. benchmark contract n++ closed up 55 cents, or 1%, at 54.33 a barrel. Those for the March contract which expired Tuesday, settled up 66 cents, or 1.2%, at $54.06. The April contract for global crude benchmark Brent advanced 48 cents, or 0.9%, to settle at $56.66 a barrel. Oil futures had broadly been higher throughout the session but gave up some of their gains later.

The Treasury market began Tuesday with a sizable loss, but dovish comments from Minneapolis Fed President Neel Kashkari (FOMC voter) brought Treasuries back to their flat lines. In the morning session, Mr. Kashkari stated that the U.S. labor market has more room to run, suggesting that he believes there is no hurry for the Fed to raise rates.

The benchmark 10-yr yield finished the day one basis point higher at 2.43% after showing a four basis point gain earlier in the session.

Wednesday will see several economic reports, including the MBA Mortgage Application Index at 7:00 am ET, January Existing Home Sales (consensus 5.57 million) at 10:00 am ET, and FOMC Minutes at 2:00 pm ET.

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Asia Pacific Market: Equities extend gains
Feb 21,2017

Asia Pacific share market mostly extended their rally on Tuesday, 21 February 2017, after a top Federal Reserve official said the bank could lift interest rates as soon as next month. Chinese indexes led regional gainers as expectations for big flows into stock markets from pension funds, meanwhile Japanese equities rallied as the yen pulled back against the U.S. dollar. MSCIs broadest index of Asia-Pacific shares outside Japan added 0.2% and held below a 19-month high touched last Thursday.

Expectations of a hike have increased since Donald Trump was elected president in November as dealers bet his big-spending, tax-cutting plans will fan inflation. And the latest reading on prices increases, as well as healthy jobs growth and factory activity, have reinforced that view.

With the US markets closed for the Presidents Holiday last Monday, Asian markets have had few global cues off which to trade. Europe provided a tepid lead with hopes of a bailout deal for Greece tempered by signs of growing anti-EU sentiment in France ahead of the presidential election in April and May.

Investors are keeping an eye on the release this week of Fed minutes from its most recent policy meeting hoping for fresh clues about its plans for rates, while preliminary factory figures are also due this week from the US and Europe.

The market also focused on the expected policy information of US tax cuts and spending plans to be revealed by President Donald Trump in the coming weeks. Investors intend to hold the US president a vow to update the markets on his economic plans in the next two or three weeks, which pressures the Trump administration to coax the Congress into starting a draft.

Among Asian bourses

Australia Market ends nudge lower

Australian equity market ended nudged lower today, as gains in basic material stocks were outweighed by losses in other sectors due to disappointing earnings. At the close, the benchmark S&P/ASX 200 index dropped 4.10 points, or 0.07%, of 5,791, while the broader All Ordinaries index declined 5.10 points, or 0.09%, to 5,835.40.

Materials stocks gained, driven higher by climbing copper and iron ore prices. Sentiment for the miners was boosted by copper prices which bounced back above US$6,000 a tonne on Monday as a dispute affecting production at the worlds second-biggest copper mine worsened. Rio Tinto rose 2% to A$68.99 while Fortescue Metals added 2.7% to A$7.17.

Diversified miners BHP Billiton jumped 1% to A$26.73. The worlds largest miner by market capital, BHP Billiton declared a bigger-than-expected dividend and reported a near eight-fold rise in underlying net profit in half-year results announced after Tuesdays market close.

Financial stocks closed mixed on profit taking after four straight days of gains. Commonwealth Bank of Australia edged up 0.03% to A$85.94, National Australia Bank was up 0.8% to A$31.96, and Westpac was tad 0.03% up at A$34.13, while Australia & New Zealand Banking shed 0.8% to A$30.62.

The energy sector was driven lower by slides in the share-prices for WorleyParsons, Oil Search and Duet Group. Oil Search was down 2.1% to A$6.92 after it reported a 70% drop in annual core profit, hit by weak oil and gas prices. WorleyParsons fell 7.8%, adding to losses on Monday after it reported a half-year statutory net loss of A$2.4 million. Duet Group shares dropped 1.8%.

Brambles extended its losses, slumping 3% to over a 2-year low after the pallets and container group issued a profit warning on Monday.

Nikkei settles up

The Japan share market settled higher today, on the back of yen depreciation against greenback, with automakers, banks, pulp and paper, mining and machinery-linked issues leading the way. The benchmark Nikkei 225 index gained 0.68%, or 130.36 points, to 19,381.44, while the Topix index of all first-section issues rose 0.56%, or 8.59 points, to 1,555.60.

Exporters saw fractional gains on the back of a relatively weaker yen. The yen traded at 113.46 to the dollar, weakening from levels near 113.06 earlier. A weaker yen is usually a positive for exporters as it increases their overseas earnings when converted back to local currency. Toyota shares rose 0.72%, Sony shares were up 0.37% and Honda rose 0.62%. Suzuki Motor advanced 2.5% and Mitsubishi Motors added 2.1%.

Toshiba shares fell 1.40%, following reports that the troubled conglomerate wants to raise at least 1 trillion yen ($8.83 billion) from the sale of a majority stake in its flash memory business. The company previously reported a $6.3 billion writedown of its U.S. nuclear unit.

Resona Holdings rose 1.5% to Y639.1 and Sumitomo Mitsui Financial Group added 0.4% to Y4,567 following media reports that the two banking groups are in talks to merge operations of three regional banks based in western Japans Kansai region.

China Stocks close near 3-month peak

Mainland China stock market settled near three-month high, as expectations for big flows into stock markets from pension funds continued to improve risk appetite. Sentiment was also lifted by news that many listed companies scrapped or revised their plans for the private placement of shares, after regulators introduced policies to check excessiven++ fundraising. Most sectors edged higher, with gains were led by real estate and material shares. At the close, the blue-chip CSI300 index rose 0.3% to 3,482.82 points, while the Shanghai Composite Index added 0.4% to 3,253.33 points, its highest close since December 1. The tech-heavy start-up index ChiNex climbed 1.4% to a 5-week high.

Shanghai Bailian Group rose by its 10% trade limit for the second session, while Yonghui Superstores also shot up 10% to a 16-month high, after Alibaba Group said it formed a strategic partnership with Bailian Group, boosting appetite for shares in listed retailers.

Hong Kong Stocks fall, HSBC tumbles after profit slump

The Hong Kong stock market staged an intra-day reversal and closed lower on Tuesday, 21 February 2017, as drop in heavily weighted HSBC after disappointing results offset a rally in Hong Kong property and mainland insurance sectors. Twenty-four stocks rose and 24 fell among the 50 blue chips, with two stocks remaining unchanged. The benchmark Hang Seng Index dropped 0.76% or 182.45 points to 23963.63. The Hang Seng China Enterprises Index, or the H-share index, was down 0.35% or 36.92 points to 10,408.56. Turnover increased to HK$87.7 billion from HK$78 billion on Monday.

The northbound quota balance of the Shanghai-HK Connect program was RMB12.388 billion, accounting for 95.3% of the daily allowed quota of RMB13 billion. The southbound quota balance was RMB9.467 billion, accounting for 90.2% of the daily allowed quota of RMB10.5 billion.

As for the Shenzhen-HK Connect, the northbound quota balance was RMB12.149 billion, accounting for 93.5% of the daily allowed quota of RMB13 billion. The southbound quota balance was RMB10.038 billion, accounting for 95.6% of the daily allowed quota of RMB10.5 billion.

HSBC Holdings PLC (00005) plunged 5% to HK$65.55, contributing a 129-point fall to the HSI. The global bank announced its pre-tax net declined 62.3% (compared to consensus of -30%) to US$7.11 billion. Its US$1 billion share purchase program also got investors down. Hang Seng Bank, majority owned by HSBC, inched up 0.1% to HK$163.3, after posting a 41% drop in its annual net income, also below market expectations.

Local property stocks rallied ahead of the first budget from Hong Kong Financial Secretary Paul Chan Mo-po, which is expected to include plans for land sales. Sun Hung Kai Properties surged 3% to HK$111.7 and Henderson Land Development edged up 1.4% to HK$44.6. Belle (01880) surged 8.6% to HK$5.54 becoming the top blue-chip gainer. Credit Suisse upgraded its rating and target price for the stock.

Shoe retailer Belle International surged 8.6% to HK$5.54 after Credit Suisse upgraded its rating for the stock and raised the target price by nearly 60%, projecting an improved earnings outlook in 2017.

Sensex gains for the fourth straight day

Indian benchmark indices continued to move up for the fourth straight day and closed with modest gains today, led by gains in Axis Bank, Reliance Industries and HDFC. The barometer index, the S&P BSE Sensex, rose 100.01 points or 0.35% to settle at 28,761.59. The Nifty 50 index gained 28.65 points or 0.32% to settle at 8,907.85. The Sensex hit five-month closing high and Nifty hit more than five-month closing high. Cement and bank stocks gained.

Index heavyweight Reliance Industries (RIL) rose 1.36% after the company said that Reliance Jio Infocomm (RJIL), subsidiary of the company, Jio has breached the 100 million customer mark in 170 days. The announcement was made during market hours today, 21 February 2017. Jio announced that in addition to its own market leading tariff plans, it will also offer its customers the option to choose the highest selling tariff plan of any of the other leading Indian telecom operators, but with 20% more data than what any other operator provides.

Shares of Bharti Airtel declined 3.38% after the announcement by RJIL. Shares of Bharti Infratel fell 4.26%. Bharti Infratel is a provider of tower and related infrastructure and is a unit of Bharti Airtel.

Ambuja Cements fell 0.29% to Rs 238.70 on profit booking after seeing pre-result upmove. The companys consolidated net profit rose 85.25% to Rs 205.70 crore on 102.41% rise in total income to Rs 4993.30 crore in Q4 December 2016 over Q4 December 2015. The result was announced during market hours yesterday, 20 February 2017. The companys consolidated net profit rose 38.77% to Rs 1121.13 crore on 112.12% growth in total income to Rs 20861.97 crore in the year ended December 2016 over the year ended December 2015. In its outlook, the company said that it expects good cement growth in 2017, supported by the governments continued focus on housing and infrastructure development and anticipate volume effects from demonetisation to be reduced by the end of Q1 March 2017. The announcement of interest subsidy schemes and an interest rate cut, the recent announcement in the Union Budget for infrastructure development, including the award of infrastructure status to affordable housing and the increased budget allocation for roads, railways and irrigation will be key drivers for cement demand, it added.

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Hong Kong: Stocks fall, HSBC tumbles after profit slump
Feb 21,2017

The Hong Kong stock market staged an intra-day reversal and closed lower on Tuesday, 21 February 2017, as drop in heavily weighted HSBC after disappointing results offset a rally in Hong Kong property and mainland insurance sectors. Twenty-four stocks rose and 24 fell among the 50 blue chips, with two stocks remaining unchanged. The benchmark Hang Seng Index dropped 0.76% or 182.45 points to 23963.63. The Hang Seng China Enterprises Index, or the H-share index, was down 0.35% or 36.92 points to 10,408.56. Turnover increased to HK$87.7 billion from HK$78 billion on Monday.

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Nikkei settles up
Feb 21,2017

The Japan share market settled higher on Tuesday, 21 February 2017, on the back of yen depreciation against greenback, with automakers, banks, pulp and paper, mining and machinery-linked issues leading the way. The benchmark Nikkei 225 index gained 0.68%, or 130.36 points, to 19,381.44, while the Topix index of all first-section issues rose 0.56%, or 8.59 points, to 1,555.60.

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Australia Market ends nudge lower
Feb 21,2017

Australian equity market ended nudge lower on Tuesday, 21 February 2017, as gains in basic material stocks were outweighed by losses in other sectors due to disappointing earnings. At the close, the benchmark S&P/ASX 200 index dropped 4.10 points, or 0.07%, of 5,791, while the broader All Ordinaries index declined 5.10 points, or 0.09%, to 5,835.40.

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