Saturday, 27 May 2017

Sensex week ahead: Market turning overbought, rangebound play ahead

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In our previous weekly note, we had said that rollover-centric activities would dominate market proceedings. There was accumulation of shorts in the market and it had a stronger-than-expected effect on the indices.

The benchmark Nifty50, which was net negative for the week, turned the tables, and ended this week with net gains of 167 points or 1.77 per cent on a weekly basis. Though the market remained strong, the coming week will see some of the momentum tapering off and the market taking a breather.

The art will be in spotting stock-specific action to extract gains as the market may take some breather without losing any significant ground.

The Relative Strength Index or RSI on the weekly chart stood at 75.8654. Though it trades in the overbought zone, it has marked a fresh 14-period high and it is a bullish indication. The weekly MACD trades above its signal line and it is a bullish signal as well.

No review of GST rates >> Daily Intraday Tips- 9644405056


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Amid clamour in industry over tax rates decided by the GST Council, Vanaja Sarna, chairperson of the Central Board of Excise and Customs, ruled out a review, barring a few rare cases. She also said the government was set for the July 1 roll-out of the GST and industry must gear up for the new regime. The government is flooded with representations from industries, including FMCG, automobiles, railways and solar power, to revise rates. The GST Council in its last meeting decided rates for 1,211 items and 500 services.

IDBI Bank forms new vertical to recover over Rs 5,000 cr in FY18

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Reeling under a pile of bad loans, ailing public sector lender IDBI Bank has formed a division to coordinate recovery on stressed loans, especially the big accounts. The Mumbai-based lender says it aims to recover and upgrade at least Rs 5,000 crore of such debt in the current financial year, ending March 2018. To control cost, it will also curb staff hiring for at least a year and reduce outsourcing. And, shift back-office functions located in prime premises. A plan on these is being finalized.

Sun Pharma says 2018 sales may fall as U.S. market gets tougher


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India's largest drug group Sun Pharmaceutical Industries Ltd said on Friday its U.S. sales might fall this year because of pressure on drug prices, signalling tough market conditions in the United States for generic drug makers.

"The U.S. generics industry is facing rapidly changing market dynamics, (and) increased competitive intensity and customer consolidation is leading to pressure on pricing," Sun's Managing Director Dilip Shanghvi said on a call with analysts after the company reported lower than expected fourth-quarter earnings.

"We may even have a single digit decline in consolidated revenue for full-year 2018 versus full-year 2017."

Indian ADRs: HDFC Bank gains 2%, Tata Motors, Infosys up >> Free Stock Cash Tips provider-



Indian ADRs ended higher on Friday. In the IT space, Infosys was up 0.31 percent at USD 15.51 and Wipro added 0.27 percent at USD 10.87.

In the banking space, ICICI Bank rose 0.30 percent at USD 9.68 and HDFC Bank gained 2.17 percent at USD 86.69.

In the other sectors, Tata Motors gained 0.75 percent at USD 36.56 and Dr Reddy's Laboratories declined 0.68 percent at USD 37.54.

Friday, 26 May 2017

26th May 2017- Closing Bell: Sensex ends above 31000 for first time ever, Nifty settles with almost 1% gain


The market witnessed a historic day as benchmark indices clocked fresh record highs, with the Sensex clocking 31,000 for the first time ever, along with the Nifty at 9600. The Nifty Bank also hit a record high during the Friday’s trade.

The Sensex ended 278.18 points higher at 31028.21, while the Nifty closed up 85.35 points at 9595.10. The market breadth was healthy as 1,810 shares advanced against a decline of 854 shares, while 182 shares were unchanged.

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Private sector banks fired on all cylinders along with midcaps, metals as well as auto stocks, the indices of which on the Nifty gained the most. Meanwhile, pharma stocks continued to bleed and sulk on the back of poor outlook for the sector in the US as well as bad results at home.

ITC and HPCL gained on the back of positive earnings momentum, while large caps such as Reliance Industries contributed heavily to the market’s gain.

Kesar Enterprises zooms 10% on strong Q4

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Shares of Kesar Enterprises rallied 10 per cent on the Bombay stock Exchange after the company reported net profit of Rs 40.89 crore in Q4FY17, compared to net loss of Rs 1.43 crore in the corresponding quarter of previous fiscal, driven by rise in operating income. Extending previous session rally, shares of the company gained as much as 10 per cent to hit intra-day high of Rs 112.20 apiece on the Bombay Stock Exchange. The scrip was currently trading at Rs 112.20 against previous close price of Rs 102.00. In a similar fashion, stocks of firm were trading 9.97 per cent higher at Rs 110.85 apiece on the National Stock Exchange.

Cipla tumbles nearly 5% on weak Q4 - Free Stock Tips- 9644405056


Shares of Cipla tanked nearly 5 per cent on the Bombay stock Exchange after the drug maker reported a consolidated net loss of Rs 61.79 crore for the quarter ended March 31, 2017, compared to net loss of Rs 92.83 crore in the same quarter last year. Weighed down by weak Q4, shares of the company declined as much as 4.97 per cent to hit intra-day low of Rs 479.00 apiece on the Bombay Stock Exchange. The scrip was currently trading at Rs 489.05 against previous close price of Rs 504.10.

Central banks throw their weight behind Forex Global Code

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Central banks of five countries, including India and Australia, welcomed publication of the FX Global Code, a single global code of conduct for the wholesale foreign exchange market. The code was launched after it was endorsed at the Global Foreign Exchange Committee meeting in London on May 24.

The Bank of Korea (BOK), the Hong Kong Monetary Authority (HKMA), the Monetary Authority of Singapore (MAS), the Reserve Bank of Australia (RBA) and the Reserve Bank of India (RBI) have welcomed the publication of the Code.

"Given the increasing volume of forex activity taking place in Asia, they encourage all market participants based in their jurisdictions to adhere to the principles of the Code," the five banks said in a joint statement.

GST implementation may increase expense ratio of fund houses


With 3 per cent increase in service tax likely after the implementation of Goods and services Tax (GST) from 1 July, the expense ratio of mutual fund houses across the country will also go up by 3 per cent. Expense ratio is the measure of the cost incurred by an investment company to operate its mutual fund.

The GST will, however, benefit small MF distributors having an annual income of upto Rs20 lakh. The government has exempted distributors’ annual earning up to Rs20 lakh from paying service tax.

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Railways to push for Rs 35k cr fund infrastructure building

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Aiming at a major push for infrastructure, the railways will raise Rs 35,000 crore with World Market assistance to create a separate fund for investment in rail sector.

The proposed Railways of India Development Fund (RIDF) would be independent of rail budget and intended for all big ticket rail-based projects, including station redevelopment, rail expansion, port connectivity and freight terminal up gradation in PPP model.

The World Bank is understood to have given its in- principle approval for the creation of the fund and the railways will seek cabinet approval for setting up RIDF next month. Besides, the railways will also seek cabinet nod for going ahead with the Rs 17,000 crore speed enhancement project in Delhi-Mumbai and Delhi-Howrah sectors.

Bosch quarter net profit dips 10% in Q4


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Automotive components maker Bosch Ltd. on Thursday reported a 10 per cent year-on-year (YoY) decline in net profit to Rs 441 crore for the fourth quarter (Q4) of fiscal 2016-17 from Rs 491 crore in same period year ago.

Sequentially, however, net profit in Q4 zoomed a whopping 102 per cent quarter on quarter (QoQ) from Rs.218 crore in the third quarter (Q3) of FY 2017.

"For the fiscal under review (FY 2016-17), standalone net profit grew 13.4 per cent YoY to Rs 1,741 crore from Rs 1,535 crore in fiscal 2015-16," said the Indian arm of the German multinational.

SBI set to hire six banks for up to $2.3 billion share sale

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State Bank of India is set to hire Bank of America Merrill Lynch, Deutsche Bank, IIFL, JM Financial, Kotak and SBI Capital to manage a share sale of up to 150 billion rupees ($2.3 billion), IFR reported on Friday, citing two sources with knowledge of the plan.

A total 17 banks had bid to underwrite the so-called qualified institutional placement, for which SBI will pay a nominal fee of one rupee, IFR.

Glenmark Pharma up nearly 3% on US FDA nod for generic drug

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Shares of Glenmark Pharmaceuticals rose nearly 3 per cent on the Bombay stock Exchange after the drug maker said that it has received final approval from US FDA for its generic version Olmesartan Medoxomil Tablets, used in treatment of high blood pressure. Following the announcement, shares of the company gained as much as 2.73 per cent to hit intra-day high of Rs 628.70 apiece on the Bombay Stock Exchange. The scrip was currently trading at Rs 618.40 against previous close price of Rs 611.95.

Idea says it is now a pan-India mobile broadband provider- Free Stock Tips provider

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Idea Cellular said that with the latest launch of 4G service in Mumbai, it has become pan-India provider of broadband services on mobile phones. "With the launch of 4G LTE services in Mumbai, Idea declares pan-India mobile broadband operations in shortest possible time," Idea said in a statement.

Idea has 4G spectrum in 20 circles except Kolkata and Delhi where it provides mobile broadband on 3G network. Idea mobile broadband services are now available to over 525 million Indians covering near 6,000 towns and 100,000 villages on 3G and 4G network pan India, the statement said.

Adani coal royalties back on Australia state cabinet agenda >> Get Free Stock Tips from here-


A final investment decision by India's Adani Enterprises to develop its Carmichael coal mine project in Australia could be back on track as early as next week, pending sign-off of a government royalty arrangement.

Queensland state Premier Annastacia Palaszczuk, a proponent of the project, said on Friday that how much Adani will pay in royalties will be discussed at a cabinet meeting of the centre-left government on Monday.

"I'm not going into those details, they'll be matters before cabinet on Monday," Palaszczuk told.

Adani said this week its board had deferred a final investment decision that had been expected by the end of May because the government had yet to sign off on a royalty regime.

Open Interest in Index Futures and Index Options

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Open Interest in Index Futures


In the Current Expiry, FIIs are net sellers of 56744 contracts in Index Future, since on the starting of the expiry, i.e, on 28th Apr, the net Open Interest was 150478 and as on last date, i.e, on 24th May, the net figure is 93734. PRO have a net buy figure of 22595 contracts in the expiry, since on the starting date, i.e, on 28th Apr, the net figure was (-)61721 and on the last date, i.e, on 24th May, the net figure is (-)39126.Combined they have a net sell figure of 34149 contracts.

Open Interest in Index Options


In the Current Expiry, FIIs are net sellers of 53471 contracts in Index options, since on the starting of the expiry, i.e, on 28th Apr, the net Open Interest was (-)172803 and as on last date, i.e, on 24th May, the net figure is(-)225274. PRO have a net sell figure of 102556 contracts in the expiry, since on the starting date, i.e, on 28th Apr, the net figure was 127324 and on the last date, i.e, on 24th May, the net figure is 24768. In combined they have a sell figure of 156027 contracts in the expiry.

CASH SEGMENT FII AND DII ACTIVITY


On 24th May 2017, FII bought Rs.81.88 Crore in cash segment. DII bought Rs.197.31 Crore. In combined FII and DII have a net buy figure of Rs.279.19 Crore.

International Market Morning Update by Ripples Financial Advisory


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In International markets, S&P500 has given breakout of its all time high of 2401 and is currently trading at 2408. The market rallied after Fed minutes where members said, it would be prudent to await additional evidence indicating that the recent slowing in the pace of economic activity had been transitory before raising rates. The minutes of the meeting identified that growth in economic activity had slowed.

German Index Dax yesterday closed at 12643, recently the index made a low of 12489.

MSCI emerging market index is trading at 1011, recently the index made a low of 984. If index trades above 1015, we might see big movement upside.

Key Indian equity indices trade flat >> Free Stock Tips provider

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Key Indian equity market indices opened flat on Friday following global cues.

The 30-scrip Sensitive Index (Sensex) was trading 23.02 points or 0.07 per cent higher during the early session.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) was trading 5.10 points or 0.05 per cent lower at 9,504.65 points.

The BSE Sensex, which opened at 30,765.77 points, was trading at 30,773.05 points in the early session, higher 23.02 points or 0.07 per cent from the previous day's close at 30750.03 points.

The Sensex touched a high of 30,818.70 points and a low of 30,745.57 points in the trade so far.

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Asia opens flat after OPEC extends output cut

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Stocks in Asia were mixed at the open on Friday, after major oil producers agreed to extend output cuts for an additional nine months at an OPEC meeting in Vienna yesterday.

The production cuts of 1.8 million barrels a day, first agreed on in November last year, will now extend to March 2018. The OPEC-led output cuts are targeted at rebalancing the global overhang in the oil markets which saw oil prices fall by more than half in recent years.

Oil prices fell by almost 5 percent in the last session following the news as some investors had been hoping for deeper production cuts. US crude had traded above the USD 50 mark for most of the week in anticipation of the OPEC meeting.

Indian ADRs: Infosys, ICICI Bank, Tata Motors, Wipro up


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Indian ADRs ended higher on Thursday. In the IT space, Infosys was up 2.04 percent at USD 15.51 and Wipro jumped 2.55 percent at USD 10.87.

In the banking space, ICICI Bank gained 3.2 percent at USD 9.68 and HDFC Bank added 2.57 percent at USD 86.69.

In the other sectors, Tata Motors was up 2.09 percent at USD 36.56 and Dr Reddy's Laboratories declined 1.78 percent at USD 37.54.

Wall Street gains on upbeat retail results- Daily Intraday Tips Provider



US stocks rose on Thursday, with the S&P 500 and Nasdaq Composite hitting new highs, helped by gains in the consumer discretionary sector after strong reports from Best Buy and other retailers.

The discretionary index was up 1.2 percent, while the S&P 500 retail index was up 1.9 percent, on track for its best day since Nov. 7.

Best Buy jumped more than 22 percent, hitting a record high and making it the top gainer on the S&P, after its comparable sales unexpectedly rose last quarter.

Tommy Hilfiger owner PVH was the second-biggest S&P gainer with a 5.4-percent jump to a near 6-month high on strong results. Sears was up about 10 percent after posting its first quarterly profit in nearly two years.

Indian Rupee opens higher at 64.56 per Dollar- Daily Intraday Tips-

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The Indian rupee opened with marginal gain of 5 paise at 64.56 per dollar on Friday versus previous close 64.61.

The USD-INR currency pair has been trading in the 64.50-65 range, with the cross-border tensions limiting the gains. Expected pair to trade in the is 64.40-64.90 range for today.

The bonds are stuck in a very narrow range with 10-year bonds trading in the 6.75-6.80 percent range after their recent rally from tops. Expect the trend to continue.

The dollar index fell against a basket of major currencies following Wednesday's Fed minutes dialled down some expectations of the central bank hiking interest rates soon.

Nifty hits record high, crosses earlier level of 9532.6, Sensex higher by 0.2% >> Get Free Stock Tips and more-



Buzzing Stock: 

Videocon Industries continued to nosedive for the third consecutive session as investors continued to dump the stock. The scrip hit its lower circuit again in the opening minutes.

Bearishness in the stock has continued following banks’ declaring the company’s debt as a non-performing asset. Dena Bank and Central Bank of India have declared the company as an NPA on their books.

The stock hit 10 percent lower circuit on Thursday after Central Bank of India declared the company as a non-performing asset in the first quarter of FY18.

26th May 2017- Today's Equity SUPPORT and RESISTANCE- by Ripples Financial Advisory


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NIFTY JUN FUT (26th MAY 2017) Trend : 

Up Close : 9495 Support : 9299-9419 Center Point : 9463 Resistance : 9538-9658 Daily Reversal Value : 9457 RSI : 46.00

BANK NIFTY JUN FUT (26th MAY 2017) Trend : 

Up Close : 23033 Support : 22039-22647 Center Point : 22870 Resistance : 23256-23864 Daily Reversal Value : 22729 RSI : 49.20

SENSEX (26th MAY 2017) Trend : 

Down Close : 30750 Support : 30029-30470 Center Point : 30631 Resistance : 30911-31352 Daily Reversal Value : 30516 RSI : 64.20

USD/INR MAY (26th MAY 2017)Trend : 

Down Close : 64.64 Support : 64.35-64.53 Center Point : 64.59 Resistance : 64.70-64.88 Daily Reversal Value : 64.77 RSI : 51.52 Untitled Page

26th May 2017- OPENING BELL >> Multibaggers At Correction. GST To Play Its Role, Opportunity To Buy


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Yesterday, Indian Benchmark Index Nifty opened at 9411, made a high of 9432 and closed at 9361 after making a low of 9342. Selling pressure was witnessed after a gap up opening of 25 points from its previous day close. The index closed below its previous week low of 9390.

Bank Nifty traded weak throughout the day. The index made a high of 22673 and closed at 22536 after making a low 22470. Bank Nifty has closed below its 2 week low of 22578.

Small cap Index continues its fall for 5th consecutive day.The index opened at 7086 and closed at 6934 after making a low of 6904. The index is trading below its monthly low of 7007.

Nifty Future Nifty to open gap up by 45 points at 9,410 against yesterdays close of 9364 as per SGX Nifty.

Thursday, 25 May 2017

Trump administration proposes $800 mn coalition support for Pakistan

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The Trump administration has proposed to give Pakistan USD 800 million as reimbursement for its military and logistical support in counter-terrorism operations in the next fiscal, a defence department official has said. The administration has proposed the amount - a cut of USD 100 million compared to the previous time - in its annual budget proposals under the Coalition Support Fund (CSF), a Pentagon programme to reimburse US allies that have incurred costs in supporting counter-terrorist and counter-insurgency operations.

Top stocks in Focus on Thursday, 25 May 2017

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The Nifty50 index is likely to open in green on Thursday following Nifty futures on the Singapore Stock Exchange (SGX Nifty) and firm global cues.

Asian peers Hang Seng, Nikkei and Shanghai were up 0.66 per cent, 0.48 per cent and 0.13 per cent, respectively, in morning trade.

Wall Street rose, while the US dollar and bond yields fell on Wednesday after Federal Reserve meeting minutes signalled a gradual approach to interest rate hikes, and oil prices dipped on a draw of US gasoline stocks that was smaller than expected.

Here is a list of top stocks that are likely to be in focus today:

Jain Irrigation: 

Jain Irrigation Systems posted a 24 per cent jump in consolidated net profit at Rs 77.63 crore during the fourth quarter of 2016-17 on strong sales in high-tech agri input business. The company's net profit stood at Rs 62.58 crore in the same quarter last year, it said in a BSE filing.

GVK Power: 

The company’s standalone net loss widened to Rs 205.85 crore in the fourth quarter ended March 31, 2017. GVK Power's net loss in the year-ago quarter was at Rs 105.59 crore.

Strides Shasun: 

The company has got approval of the US regulator for its Memantine Hydrochloride tablets to treat Alzheimer's-type dementia, said the company on Wednesday.

International Market Morning Update by Ripples Financial Advisory

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In International markets, S&P 500 has given breakout of its all time high of 2401 and is currently trading at 2408. The market rallied after Fed minutes where members said, it would be prudent to await additional evidence indicating that the recent slowing in the pace of economic activity had been transitory before raising rates. The minutes of the meeting identified that growth in economic activity had slowed.

German Index Dax yesterday closed at 12643, recently the index made a low of 12489.

MSCI emerging market index is trading at 1011, recently the index made a low of 984. If index trades above 1015, we might see big movement upside.

Open Interest in Index Futures and Index Options- 25th May 2017

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Open Interest in Index Futures


In the Current Expiry, FIIs are net sellers of 56744 contracts in Index Future, since on the starting of the expiry, ie, on 28th Apr, the net Open Interest was 150478 and as on last date, ie, on 24th May, the net figure is 93734. PRO have a net buy figure of 22595 contracts in the expiry, since on the starting date, ie, on 28th Apr, the net figure was (-)61721 and on the last date, ie, on 24th May, the net figure is (-)39126.Combined they have a net sell figure of 34149 contracts.

Open Interest In Index Options


In the Current Expiry, FIIs are net sellers of 53471 contracts in Index options, since on the starting of the expiry, ie, on 28th Apr, the net Open Interest was (-)172803 and as on last date, ie, on 24th May, the net figure is(-)225274. PRO have a net sell figure of 102556 contracts in the expiry, since on the starting date, ie, on 28th Apr, the net figure was 127324 and on the last date, ie, on 24th May, the net figure is 24768.In combined they have a sell figure of 156027 contracts in the expiry.

CASH SEGMENT FII AND DII ACTIVITY


On 24th May 2017, FII bought Rs.81.88 Crore in cash segment. DII bought Rs.197.31 Crore. In combined FII and DII have a net buy figure of Rs.279.19 Crore.

Asian shares firm, dollar and US bond yields slip after Fed

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Asian shares eked out modest gains on Thursday while the dollar and US bond yields slipped after the US Federal Reserve signalled a cautious approach to future rate hikes and the reduction of its USD 4.5 trillion of bond holdings.

MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.3 percent, with South Korea leading with a 0.4 percent rise. .

Japan's Nikkei dipped 0.1 percent though MSCI Japan rose 0.4 percent in dollar terms .

Minutes from the Fed's last policy meeting showed policymakers agreed they should hold off on raising interest rates until it was clear a recent US economic slowdown was temporary, though most said a hike was coming soon.

Indian ADRs: Infosys, HDFC Bank gain; Tata Motors, Dr Reddy's Labs fall


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Indian ADRs ended mixed on Wednesday. In the IT space, Infosys was up 0.93 percent at USD 15.20 and Wipro gained 0.86 percent at USD 10.60.

In the banking space, ICICI Bank remained unchanged at USD 9.38 and HDFC Bank added 0.76 percent at USD 84.52.

In the other sectors, Tata Motors declined 2.72 percent at USD 35.81 and Dr Reddy's Laboratories fell 2.18 percent at USD 38.22.

Wall Street rises, dollar falls on Fed minutes >> Free Stock Tips- click here-

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Wall Street rose, while the US dollar and bond yields fell on Wednesday after Federal Reserve meeting minutes signaled a gradual approach to interest rate hikes, and oil prices dipped on a draw of US gasoline stocks that was smaller than expected. While the yield curve flattened, the S&P 500 closed at a record high after minutes from the US central bank's May 2-3 policy meeting indicated the Fed would gradually raise rates and wind down its USD 4.5 trillion of bond holdings.

The Dow Jones Industrial Average rose 74.51 points, or 0.36 percent, to 21,012.42, the S&P 500 gained 5.97 points, or 0.25 percent, to 2,404.39 and the Nasdaq Composite added 24.31 points, or 0.4 percent, to 6,163.02.