Nifty needs to consolidate before making a rush for 10K, D-Mart's $280m IPO

ET Markets Daily Brief | Fri, Feb 24, 2017 | 03:58 PM IST Follow ET Markets Co-sponsor Associate Sponsors

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Inverse Head & Shoulder pattern on weekly charts shows Nifty is headed for 10,000 mark Usually, if such a pattern occurs after a significant upward move, it should be nearly 50 per cent size of the previous bounce. Market likely to enter consolidation before it gains strength to hit new high Hindalco and TCS are two contrasting stocks representing their respective sectors, sending out a clear message to investors where to invest. What is the worth of all the oil in Saudi Arabia? The guesses are too wild Industry executives, analysts and investors said their analysis suggests Aramco is worth no more than half, and maybe as little as a fifth, of that amount.

Interview One to One Looking at the valuations which are at almost 17 times and considering the fact that there could be earnings downgrad... Kotak Securities , Sanjeev Zarbade

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Market Watch 24 Feb | 03:58PM| SENSEX NIFTY USD/INR GOLD 28892.97 ↑28.26 8939.50 ↑12.60 66.82 ↓-0.15 29462.0 ↑254.0

Gainers Losers 24 Feb, 2017, 03:58PM IST, PTI|View All Company Name Live Price Change (%) Volume High Low Ravi Kumar Distilleries Ltd. 13.12 19.27 180315 13.20 10.56 GTL Infrastructure Ltd. 4.95 16.20 3376395 5.05 4.15 Viaan Industries Ltd. 150.00 16.10 31856 155.00 135.00

Tweet of the day... Don't see Nifty breach 9,000 in next couple of trading sessions

FROM THE NEWSPAPER

Buybacks hit six-year high in FY17; more companies are lining up offers This week, TCS announced a buyback of up to Rs 16,000 crore, which came in amid increasing pressure from investors to look at utilising large cash on their books. D-Mart owner Avenue Supermarts to launch $280 million IPO on March 8 The IPO by Avenue Supermarts, which operates 118 stores across 45 cities under the "D'Mart" brand, comes at a time when share markets are rallying. Jagran Prakashan's FM Radio arm gets Sebi's nod for Rs 400 crore IPO Jagran Prakashan is not selling any of its shareholding in MBL under the offer for sale portion, it had said. Gold climbs to 3.5 month high amid political worries Spot gold was up 0.4 per cent at $1,254.10 per ounce at 0809 GMT, after touching its highest since Nov. 11 at $1,254.31 earlier in the session. RBS posts $8.7 billion loss in ninth straight year without a profit RBS, which has not made an annual profit since 2007, booked 6.96 billion pounds of losses for 2016, against a 1.98 billion pound loss in the same period a year earlier.

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