The market continues to be flat. The Sensex is up 9.91
points at 20557.53, and the Nifty is up 0.05 points at 6089.10. About 1130
shares have advanced, 770 shares declined, and 104 shares are unchanged.
All Asian markets are in the green reacting to the US debt
ceiling issue getting resolved. Straits, Nikkei, Hang Seng and Shanghai are all
up.
President Barrack Obama signed the legislation to end the
shutdown, lifting the US debt cap.
US markets end near session highs on Wednesday after a
senate deal put an end to the government shutdown.
US 10 year bond yields fall to 2.68 percent in reaction to
the debt debate resolution. Analysts say even if the senate and house have
overcome procedural hurdles now; it is only a temporary solution that sets up
the prospects of another shutdown early next year.
Gold fluctuated within a narrow range after US lawmakers
reached an agreement to increase the debt ceiling, trading flat now USD
1280/ounce while crude holds above USD 110/bbl today.
The rupee opened higher in sync with most emerging market
currencies following relief over the US ending the government shut down and
allowing its treasury to continue borrowing; exporters and FIIs were noted
selling dollars.
Bond markets too reacted positively to the US news,
especially after us bond yields fell following the end of the political
impasse. However bond markets gains are subdues by the upcoming Rs 15,000 rupee
bond auction tomorrow.
Asian equity markets enjoyed risk-on trade on Thursday after
a long-awaited budget deal to raise the debt ceiling and avert a debt default
was passed by Senate lawmakers.
Shanghai Composite rose 0.31 percent or 6.80 points at
2,199.87.
Hang Seng was up 0.25 percent or 58.58 points at 23,286.91.
Nikkei advanced 1.14 percent or 164.93 points at 14,632.07.
Straits Times added 0.75 percent or 23.96 points at 3,197.99.
Seoul Composite gained 0.39 percent or 7.91 points at
2,042.52 and Taiwan Weighted jumped 0.60 percent or 49.92 points at 8,382.10.
Stocks to Sell Today on 17 October 2013
√ Sell IDFC, Target Rs 86, Rs 85 and Stoploss Rs 90
√
Sell Century Textiles and Industries, Target Rs 232 and Rs Stoploss
262
√
Sell Bank of India, Target Rs 168, Rs 165 and Stoploss Rs 180
√
Sell ACC, Target Rs 1110 and Stoploss Rs 1145
√
Sell Gail India, Target Rs 320 and Stoploss Rs 329
Stocks to Buy Today on 17 October 2013
√
Buy HUL, Target Rs 611
and Stoploss Rs 599
√
BUY Asian paints, Target Rs 482, Rs 486 and Stoploss Rs 475
√
BUY bank of baroda, Target Rs 558, Rs 568 and Stoploss Rs 535
√
BUY HDFC, Target Rs 660, Rs 670 and Stoploss Rs 640