China's dominance in rare earth magnets came through strategic state support and access to raw materials, allowing it to undercut global rivals.
China’s rare-earth elements (REE) trade has risen ninefold over the past three decades
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market is likely to witness a flat opening in trades today tracking subdued trading of Nifty and other Asian markets, says SMC Global.
According to Stewart & Mackertich, Nifty has support at 8890, 8860 while the Index has resistance at 8980, 9020. According to Stewart & Mackertich, Nifty has support at 8890, 8860 while the Index has resistance at 8980, 9020.
Auto stocks were in focus as they started announcing February sales data. Maruti Suzuki shares gained half a percent after reporting 10.9 percent growth in February sales year-on-year while Eicher Motors too gained over half a percent as Royal Enfield sales increased 19 percent in the month gone by.
BHEL, Hero Motocorp, ONGC, Axis Bank, Cipla, Bharti Infratel and Power Grid Corp were early gainers while Tata Motors, Bharti Airtel, Tech Mahindra, Idea Cellular, UltraTech Cement and M&M were under pressure.
Auto stocks were under pressure ahead of February sales figures that will be announced on March 1. Bajaj Auto and Hero Motocorp fell 1-1.5 percent. Tata Motors and Maruti Suzuki declined 0.25-0.5 percent.
The global brokerage firm believes that the flows could drive markets up in the near-term but has retained the year end Nifty target at 8,800.
Domestic liquidity is unlikely to dry up any time soon and that could limit market downside, says Harsha Upadhyaya, CIO Equity at Kotak Mutual Fund.
In an interview to Ramesh Damani, Member BSE, Amitabh Sonthalia of SKS Capital shared his reading and outlook on the market.
Experts expect consolidation to continue but don't see major correction in near term. After more or less stable earnings from banks, the market will closely watch third quarter earnings of SBI & Bank of Baroda, country's largest public sector lenders, on Friday.
TCS, HCL Technologies, Tech Mahindra, ITC, M&M and Bharti Infratel rallied 1-2 percent. Tata Steel, Cipla, PNB and L&T were down 1-3.5 percent.
SBI, Adani Ports, ONGC, BHEL and Axis Bank are top gainers while Infosys, Bharti, ICICI Bank, NTPC and Coal India are losers.
Dalal Street caught in bear grip as equity benchmarks fell more than 1 percent and the broader markets shed more than 2 percent. Nifty Auto and Bank indices were down 2 percent each while Realty plunged 4 percent.
The markets made an effort Thursday to follow an old adage on Dalal Street –‘Buy the rumour Sell the fact‘ when the GST Bill was passed in Rajya Sabha, but it failed as the benchmark clawed into the green and triggered a massive short covering on Friday that marked the highest closing this year.
Watch the interview of Sudarshan Sukhani of s2analytics.com and Ashwani Gujral of ashwanigujral.com with Anuj Singhal and Ekta Batra on CNBC-TV18, in which they shared their reading and outlook on technical side of the market as well as specific stocks and sectors.
What‘s making investors edgy is that unlike financial crises, political crises cannot be quickly fixed with monetary tools like rate cuts and liquidity infusion. But that won‘t stop central banks from trying.
Despite a strong session on Thursday, the SGX Nifty is indicating a weak opening for the market. Sensex yesterday rallied over 300 points to move closer to the 26,000 mark. Nifty, as well, soared past the 7,800 level.
The broader markets continued to outperform benchmarks with the BSE Midcap and Smallcap indices rising 0.5-0.8 percent.
Watch the interview of Sudarshan Sukhani of s2analytics.com, Rajat Bose of rajatkbose.com, Prakash Gaba of prakashgaba.com, SP Tulsian of sptulsian.com, Mayuresh Joshi of Angel Broking and Chandan Taparia of Anand Rathi Securities with Latha Venkatesh and Sonia Shenoy on CNBC-TV18.
The normal sense would say that don't do anything, actually this is the market in which you may want to just now stay on the sideline and not trade or at least not take over night positions because you never know what might come from the Fed.
Reliance Industries, Lupin, Tata Motors, HUL and ONGC were top gainers on the Sensex, up more than 2 percent followed by HDFC with 1.6 percent gain. ICICI Bank, Wipro and NTPC fell more than 1 percent.
Watch the interview of Amit Harchekar, Chief Technical Strategist at A PLUS Analytics and Chandan Taparia, Derivative & Technical Analyst at Anand Rathi Securities with Reema Tendulkar & Nigel D'Souza on CNBC-TV18.
Watch the interview of Rajat Bose of rajatkbose.com with Latha Venkatesh & Sonia Shenoy on CNBC-TV18, in which he shared his readings and outlook on market and specific stocks.