Sensex deepens losses, Nifty trades around 11,350; metals take a hit

Capitalstas Financial Research

Indian Indices:
                                          Some selling pressure is visible on the market, as benchmarks have extended their losses. The Nifty has given up 11,350 as well, while the Sensex is down almost 100 points.

Among sectors, banks, automobiles, IT, and metal names are taking a hit, while pharmaceuticals are trading higher. The midcap index is down over half a percent as well.

The Sensex is currently down 89.78 points or 0.24% at 37495.73, while the Nifty is lower by 32.00 points or 0.28% at 11345.80. The market breadth is negative as 896 shares advanced, against a decline of 1,226 shares, while 155 shares were unchanged.

HUL and Yes Bank are the top gainers, while Vedanta, State Bank of India, and Hindalco have lost the most. 

Global Market:

•    Asian markets: Asian markets are lower today as Japanese and Hong Kong shares fall. The Nikkei 225 is off 1.07% while the Hang Seng is down 0.63%. The Shanghai Composite is not trading.

•    US Markets: Dow set to open 100 points lower following new US tariffs on China.

•    European markets: European markets finished lower today with shares in Germany leading the region. The DAX is down 0.23% while France's CAC 40 is off 0.07% and London's FTSE 100 is lower by 0.03%.

Major Headlines of the day:

•      Sebi board to discuss fiduciaries framework, settlement mechanism on September 18
•      Nifty likely to open flat.

Trend in FII flows:-  The FIIs were Net Value of Rs -106.54 cash segment while the DIIs were Net Value of  -180.36 per the provisional figures.

Securities in Ban For Trade Date 18-SEPTEMBER-2018
1.Adanient

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D-Street continues to be volatile amid weak rupee, high crude prices; Nifty around 11,500

Capitalstars Financial Research Pvt. Ltd.

Indian Indices:          
                                        The market is witnessing a lot of volatility as benchmarks see wild swings between positive and negative territory. These are currently trading in the red after seeing some recovery minutes ago.

Selloff in banks, FMCG, metals as well as names in the midcaps space are weighing on indices. Higher crude oil prices as well as a bearish rupee continue to spook investors.

The Sensex is down 39.34 points or 0.10% at 38118.58, while the Nifty is down 18.30 points or 0.16% at 11502.00. The market breadth is negative as 733 shares advanced, against a decline of 1,105 shares, while 115 shares were unchanged.

Global Market:

Asian markets: Asian markets are lower today as Japanese and Hong Kong shares fall. The Nikkei 225 is off 0.29% while the Hang Seng is down 1.56%. The Shanghai Composite is not trading.

US Markets: Stocks fall on first trading day of September amid increasing trade tensions with Canada and China.

European markets: European markets finished broadly lower today with shares in France leading the region. The CAC 40 is down 1.31% while Germany's DAX is off 1.10% and London's FTSE 100 is lower by 0.62%.

Major Headlines of the day:

•      Dollar climbs, emerging markets under pressure.
•      Facebook, Nike drag Wall Street lower; trade concerns linger.

Trend in FII flows:-  The FIIs were Net Value of Rs 32.64 cash segment while the DIIs were Net Value of  -21.41 per the provisional figures.

Securities in Ban For Trade Date 05-SEPTEMBER-2018

1.Adanient.

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NSE, MCX in merger talks, could submit proposal to Sebi; crucial for bulls in the coming week

NSE, MCX in merger talks, could submit proposal to Sebi; crucial for bulls in the coming week

The National Stock Exchange (NSE) and the Multi Commodity Exchange (MCX) entered into merger talks ahead of the implementation of the universal exchange framework in October, said a top official. The two entities are planning to approach market regulator Securities and Exchange Board of India (Sebi) as early as this month, according to the official.

Both the exchanges have readied a blueprint for the merger proposal which will be discussed with Sebi.Sources say NSE entered talks with the commodity bourse soon after the market regulator allowed exchanges to dabble both in the equities and commodities space. The decision was taken by the Sebi board at its December 2017 meet.

Capitalstars financial research pvt. ltd. 

Commodity space is still evolving and has great opportunity to develop in the current scenario. So, having a dominant player will help bring in lot of economies of scale,” explained a person in the know.

In the equity derivatives space, NSE has near monopoly, while in commodity derivatives MCX enjoys a lion’s share of 90 per cent.

Currently, MCX has a market capitalisation of Rs 37 billion. In comparison, NSE is much bigger. In December 2016, when NSE filed its offer document with Sebi, it was looking for a valuation of Rs 400 billion. Since then, the valuation has increased further thanks to a good uptick in trading volumes.

Market experts say the merger could be a win-win for both exchanges as competition is set up intensify post October as all existing bourses will look to foray into new segments.

The Nifty50 is now trading above its crucial short-term moving averages and today’s intraday low of 10,524 will be of big importance in the coming week, suggest experts. A break below this level could again put further pressure on the index amid expiry week volatility.

The Nifty50 which opened at 10,533 slipped marginally to hit an intraday low of 10,524. Bulls took control of the index and pushed Nifty above 10,600 to hit an intraday high of 10,628 before closing the day at 10,605, up 91 points.

On the other hand, MCX will need huge capital if it wants to aggressively foray into the equities space.

The proposal could also address NSE’s pet peeve–going public. Despite mounting shareholder pressure, NSE has not been able to list due to legacy issues. As MCX is already listed, the merger could lead to back-door listing for NSE, say experts.

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Effect Over Sensex and Nifty ahead of RBI policy; tyre stocks rally;

Effect Over Sensex and Nifty ahead of RBI policy; tyre stocks rally;

Indian Indices:
                             
The SGX Nifty also indicated strong opening for the frontliners, rising 153 points to 10,283 on the Singapore Stock Exchange. Frontline indices extended gains, with the Sensex rising 383.96 points or 1.16 percent to 33,403.03 and the Nifty gaining 124.10 points or 1.23 percent at 10,252.50.Apollo Tyres rallied 4.5 percent while Balkrishna Industries and MRF gained 3 percent.

The market breadth is very strong as about 8 shares advanced for every share falling on the BSE. Benchmark indices bounced back sharply, tracking strong lead from global stocks and ahead of RBI monetary policy outcome. The Indian rupee opened higher by 12 paise at 65.03 per dollar on Thursday versus previous close of 65.15.The 30-share BSE Sensex was up 345.45 points or 1.05 percent at 33,364.52, and the 50-share NSE Nifty rose 112.80 points or 1.11 percent to 10,241.20.

Capitalstars financial research pvt ltd

Global Market:

• Major Asian markets are all trading in the green at present, Nikkei is up 1.61%, KOSPI is up 1.72%, while Hang Seng and Shanghai Composite are shut in today’s trade.

• US Markets: Stocks witnessed a substantial turnaround over the course of the trading session after initially opening in the red. The Dow surged 1% to 24,264.30, the Nasdaq jumped 1.5% to 7,042.11, while the S&P 500 ended 1.2% higher at 2,644.69.

• European ended flat in yesterday’s trade with the FTSE closing 0.05% higher, CAC ended down 0.20% while the DAX ended 0.37% lower.

Major Headlines of the day:

• Jet Bharat Heavy Electricals: The company has begun 330 MW Kishanganga HEP In J&K.
• Axis Bank: The central bank has rejected its request for gold & silver import in FY19.
• Jet Airways: The airline will buy 75 Boeing 737 Max jets worth up to USD 9.7 billion.
• IndusInd Bank ties up with JSW Foundation to support women athletes.
• Max Financial Services' board meeting on April 9, 2018, to consider and evaluate proposals for raising of funds by way of debt instruments.

Trend in FII flows:
                                    The FIIs were Net Value of Rs 335.18 the cash segment Wednesday while the DIIs were Net Value of Rs  -152.55 as per the provisional figures.

Securities in Ban For Trade Date 05-APR-2018:

NIL…

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Predicted Valuable Stocks of April

Predicted Valuable Stocks of April

The first half of the April series can see a pullback short covering rally, therefore strategy should be to buy the dip for a pullback rally in the first half of the April series.

The Nifty has bounced back after taking support at the 38.2 percent Fibonacci retracement level placed at 9930 and RSI has formed a positive divergence which suggests more short covering rallies in the first half of the April series following which Index can enter into a narrow consolidation range or resume corrections.

Capitalstars financial research pvt ltd

The first half of the April series can see a pullback short covering rally, therefore strategy should be to buy the dip for a pullback rally in the first half of the April series.However, a correction cannot be ruled out at a later stage as the overall trend remains weak at the moment.

The Nifty50 Index is trading below its 200-DEMA and 200-DMA for the first time from January 2017 onwards as it lost 3.61 percent in the month of March following a cut of 5 percent in the month of January.

Moreover, whenever the index breaks its 200-DEMA and 200-DMA following a prolonged trade above the averages, it tends to flirt around these averages before witnessing the next leg of correction.

However when you day trade, the luxury of time is taken away from you. Each day the scores are settled, forcing you to be fair and square for the day. This makes day trading a very tough profession, with a need to be highly consistent and disciplined.

Needless to say if done right, day trading can be highly rewarding. If you are getting started on day trading, there are a few aspects that you need to bear in mind.

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Capitalstars Infosys gets near 500% response to buyback

India's second largest IT services company, said it received 499.98 per cent higher response to the proposed share buyback plan.

The Bengaluru-headquartered company had in August announced a Rs 13,000 crore share buyback plan and promised to repurchase more than 113 million equity shares aggregating up to 4.92 per cent of the paid-up equity share capital at a price of Rs 1150 apiece.

It received applications for tendering more than 565 million equity shares, nearl ..

The company repurchased 1.39 million and 1.5 million from Rohan Murthy and Sudha Gopalakrishnan, respectively, amongst the promoters of the company. Post buyback, the promoters will hold 12.90 per cent of Infosys total equity shares.

Infosys is the third IT services firm to receive higher subscription share buyback. While WiproBSE 1.16 % saw 341 per cent higher subscription, TCSBSE 1.76 % reported nearly 221 per cent higher response against its buyback plan.

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