Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Market Commentary

| More

ITC leads the Nifty in an otherwise indifferent market: Angel Broking

Posted On: 2017-03-18 11:21:10

Views of Mr. Amarjeet Maurya (Sr. Research Analyst - Mid Caps, Angel Broking):

"The Nifty story on Friday 17th March could have been very different had it not been for ITC, which was the only heavyweight holding the Nifty up. The sharp up-move in ITC came in the aftermath of the crucial GST Council meet on March 16th. The GST Council decided to cap the cess rate on tobacco products at Rs.4170 per 1000 sticks or 290% ad valorem. The GST Council has also capped the cess on Pan Masala at 135% ad valorem. This cess will be levied over and above the basic GST that will be imposed on these products. While the final levy on tobacco products will be high, this cap will ensure two things. Firstly, it will ensure that the uncertainty surrounding the peak cess on tobacco products will end once and for all. Secondly, this capping also means that they have not exactly been classified as sin products. The remonetization effort and the likely impact on FMCG demand also played in favour of ITC."

Source: Equity Bulls

Click here to send ur comments or to

Other Headlines:

Traders to look for global cues for direction next week
Crucial support of 10141 in jeopardy: Angel Broking
IT sector may do well, showing strong overall momentum - Epic Research
India's political economy of minimum support prices
HDFC Bank and PSBs can be crucial movers: Angel Broking
PSBs once again became the show stealers: Angel Broking
Economy: WPI inflation drops lower - Kotak
WPI also falls, in sync with the CPI inflation: Angel Broking
PSU banks rebounded from multi-year trend line supports: Angel Broking
Temporary respite for Indian bonds
IIP for Jan 2018 flatters 7.5%: Angel Broking
Inflation trends lower to 4.44% for Feb 2018: Angel Broking
CPI numbers to be positive catalyst for markets - Ms. Radhika Rao, India Economist, DBS Bank
Banking contributed heavily in the relief rally: Angel Broking
Views and outlook on markets - Sanjeev Zarbade, Vice-president-PCG Research at Kotak Securities
Manufacturing Output and CPI data to add some more action in market : Epic Research
200 SMA playing a sheet anchor role; but expect breakdown soon: Angel Broking
Nifty gearing up for sub-10000 levels: Angel Broking
Short-term intermediate supports bulls placed at 10040 - 10100
A breach of 10300 confirms a breakdown: Angel Broking
Bank Nifty successfully defended 200-day SMA: Angel Broking
Review and Outlook on Markets - Astha Jain, Senior Research Analyst - Hem Securities Ltd
Ms. Radhika Rao, India Economist, DBS Bank on GDP numbers
Improving GDP growth: Angel Broking
Views and Outlook on Markets - Teena Virmani, Vice President - Research at Kotak Securities
Bank Nifty nearing make or break level: Angel Broking
Nifty ends flattish for third consecutive week
Nifty PSU bank index hastening towards crucial support: Angel Broking
Powell to set the tone for a more optimistic US outlook
Outlook on Markets - Sanjeev Zarbade, VP - PCG Research at Kotak Securities
Crucial data which will be eyed by investors in the coming week : Epic Research
Some respite in banking and midcap baskets: Angel Broking
Short rollovers from FIIs desk; avoid bottom fishing: Angel Broking
10300 - 10500 becomes a crucial range: Angel Broking
Fed minutes push up yields and the dollar Rates
IT basket soars after weakening of rupee, 10500 remains a strong hurdle: Angel Broking
India: Asset markets feel the jitters
Domestic cues pulled down investors sentiments despite a flair run of bulls in global markets: Epic Research
PNB fiasco ruins trading environment, index continues to remain choppy: Angel Broking
PSU banks became the party spoiler: Angel Broking
Markets remains volatile, Quarterly results to be watch out for : Epic Research
Unchanged Rates by RBI fails to cheer up Realty
Post Monetary Policy Comments - Ms. Radhika Rao, India Economist, DBS Bank
Monetary Policy maintains status quo on rates: Angel Broking
Status quo from RBI, market remains under pressure: Angel Broking
Strong Rollovers for the rate sensitive index: Angel Broking
Breather continues as we head to an extended week: Angel Broking
Economy: Advance estimates underplay the cyclical recovery
The curious case of all Indian markets - Sanjeev Prasad, Co-head and Managing Director - Kotak Institutional Equities
GDP and expectations of Budget will keep investors on toes : Epic Research

Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2018