The Nifty50 and Sensex indexes fell sharply due to rising crude oil prices, a weakening rupee, and escalating US-China trade tensions. The banking sector continued to decline as well. However, the US may exempt Indian steel and aluminum from new tariffs. Reliance Capital aims to reduce debt by exiting non-financial businesses, and Muthoot Fincorp expects a 22% rise in assets due to economic growth and streamlining products.

1. 9/18/2018
Daily Report
When money matters

2. Nifty 50 Index
Sensex Index
Bank Nifty Index
The Nifty50 corrected sharply
for second consecutive
session and broke the
psychological 11,300-mark
on Tuesday, forming bearish
candle on the daily
candlestick charts. Rising
crude oil prices, weakening
rupee and escalated trade
war tensions between
world's largest economies US
& China caused selling
pressure in the market.
Adding to the pain was a
weakening rupee, which fell
to 72.75 per US dollar when
the market came to a close.
Crude prices surged in the
last hour of trading after
Saudi Arabia is said to have
been comfortable with Brent
trading above USD 80 per
barrel.
At the close of market hours,
the Sensex ended lower by
294.84 points or 0.78% at
37290.67, while the Nifty fell
98.90 points or 0.87% at
11278.90. The market
breadth is negative as 879
shares advanced, against a
decline of 1,775 shares, while
178 shares were unchanged.
Nifty50 continued its
downward and Bank Nifty
continued to remain under
pressure and extended its
losses towards bank nifty
index may be take supports
26,200 -26150 zones.
Market Commentary

3. GET & D Limited
GET & D Limited is forming falling wedge pattern on its daily chart. Break out
will be expected in upcoming trading sessions. Stock will likely to move up.
Since May it is in slight bearish note and took a support in July and September
2018.
RSI is also supporting the trend. One can
take a long position in GET & D Limited above the level of 284.3-284.5 and
target range could be seen as 295-300, with the strict stop loss at 277.9.
Stock to Watch for Wednesday

4.  in a massive relief for India, the United States is all set to exempt Indian
steel and alumimium from the higher tariff regime announced by
President Donald Trump's administration this March. But the
exemption is likely to come with riders, a top government official says.
The US has agreed to exempt a certain percentage of India's average
exports in last five years from the highrt import duty, but talks are still
on as India is pushing for a complete exemption. The US has exempted
some other countries from import duties and they are willing to include
India.
 Reliance Capital chairman Anil Ambani said the company is aiming to
reduce its debt by exiting all the non-financial businesses in its portfolio
in the next 12-18 months. the company is looking to list it's general
insurance company, Reliance General Insurance, in the current financial
year. Reliance Capital is engaged in businesses of asset management,
insurance, commercial and home finance and equities and
commodities broking. Its home finance company- Reliance Home
Finance - has also been approached by global companies to partner in
affordable housing segment, according to Ambani.
 Muthoot Fincorp expects a 22% surge in its assets under management
(AUM) business in the year to March 2019 on the back of an estimated
7.5-8% economic growth in country, a top executive at the gold loan
NBFC Said.the Company has also rationalized its product portfolio to
simply its business model which, he said, will attract more consumers.
“Earlier, our portfolio had 12 products, which post revamp has been
bought down to five, The aim is to make the customer understand the
right value of his gold and he should be able to get right products. the
new products attract interest rates of 12-18% depending upon the
tenure of the loan. The EMI products attract an interest ranging
between 15.5% and 18%. Customers can avail interest holiday of two
months, three months and five months. In that case, interest will hover
between 12% and 21%, he explained. The amount, however, should be
less than Rs 50,000.
News Highlights:

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