INDIAN EQUITY MARKET WRAP UP-29 MARCH 2016

INDIAN BENCHMARKS: SENSEX ENDS 66 POINTS LOWER,NIFTY 50 BELOW 7600,LUPIN TANKS 6%

Domestic equity markets navigated rough waters on Tuesday as multiple triggers confused investors on the Street.

The equity market managed to close in the red after a shaky trading session that saw the BSE benchmark Sensex swing between gains and losses. The S&P BSE Sensex ended the day lower by 66 points, or 0.26 per cent, at 24,900. The 50-share NSE Nifty50 closed at 7,597, down 18 points, or 0.24 per cent. 

Lupin slipped over 13% to Rs1294.05, after reports suggested that it has received a Form 483 (observation letter) from US drug regulator, USFDA for its Mandideep manufacturing facility.

Lupin's active pharmaceutical ingredient ( API) and formulations units of Mandideep manufacturing facility in Madhya Pradesh have reportedly received two observations each after the facility was inspected by United States Food & Drug Administration ( USFDA) between February 08, to February 19, 2016.

HEADLINES OF THE DAY

Lupin drops as Mandideep unit receives USFDA observations.

LIC ups stake in IDBI Bank to 14.3%.

Ashok Leyland sells 0.55% stake in Indusind Bank.

The crucial resistance for Nifty SPOT is now seen at 7653 and above this 7750. Support for the immediate term is now placed at 7583 and next support will be 7515.

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TOP CORPORATE NEWS-29 MARCH 2016

Lupin drops as Mandideep unit receives USFDA observations

Lupin slipped over 13% to Rs1294.05, after reports suggested that it has received a Form 483 (observation letter) from US drug regulator, USFDA for its Mandideep manufacturing facility.

Lupin's active pharmaceutical ingredient ( API) and formulations units of Mandideep manufacturing facility in Madhya Pradesh have reportedly received two observations each after the facility was inspected by United States Food & Drug Administration ( USFDA) between February 08, to February 19, 2016.

Ashok Leyland sells 0.55% stake in Indusind Bank

Ashok Leyland has sold 0.55% stake in Indusind Bank for Rs300 crore. The proceeds are likely to be utilized to reduce debt.

The stock opened at Rs105.40 marking days low at Rs105.05 with an intraday high of Rs106.50 and is currently trading at Rs105.45 up by 0.67% on NSE so far.

LIC ups stake in IDBI Bank to 14.3%

IDBI Bank has allotted 15.8 crore equity shares, equivalent to 7.16% stake for Rs850 crore, on preferential basis to Life Insurance Corporation of India (LIC), which now holds over 14.3% stake in IDBI Bank.

The allotment of shares is part of IDBI Bank's plan to offload government shareholding as part of its privatization move.

Cadila receives USFDA nod to market Acyclovir tablets

Cadila receives nod from USFDA to market Acyclovir tablets (manufacturing at Ahmedabad SEZ), used in treatment of AIDS – Sentimentally positive.

Torrent Power signs contract with WTG group

Torrent Power has entered into a contract with a leading WTG manufacturing group for development of the 197.40 MW Wind Power Project across three sites in Kutch and Bhavnagar, Gujarat.

This Project is expected to be commissioned progressively by March 2017 and shall have off take arrangements for fulfilment of Renewable Power Purchase Obligations (RPO).

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INDIAN EQUITY MARKET OUTLOOK-29 MARCH 2016

INDIAN BENCHMARKS are likely to open on a flat to negative note as the global cues look mixed with SGX Nifty trading 6.50 points lower.

                                                                      

Global Markets:

Asian stocks fell led by losses in health care stocks as traders stuck to a cautious tone ahead of key US reports on employment, manufacturing, housing, consumer confidence and Fed Chair Janet Yellen’s speech this week, which may offer further clues over the course of US interest rates.

China’s Shanghai Composite dropped for a second straight day led by losses in technology and property companies as Shenzhen also introduced real estate curbs last week, joining Shanghai.

Hang Seng was trading with slim losses as it reopened after the Easter break and Japan’s Nikkei 225 retreated amidst mixed economic data as a rise in household spending was accompanied by an increase in the country’s jobless rate.

Wall Street ended little changed on Monday as traders assessed mixed US economic data which showed that consumer spending barely rose in February but contracts to purchase US existing homes rebounded.

Household spending in the US climbed by 0.1 per cent for a third straight month in February while the index measuring pending home sales rose 3.5 per cent in February over the prior month, the biggest gain in a year.

The Dow Jones Industrial Average climbed 0.11 per cent; the Nasdaq Composite fell 0.14 per cent while S&P 500 rose 0.05 per cent.

Major Headlines of the day:

1. Ashok Leyland sells 0.55% stake in Indusind Bank for Rs300 cr 

2. Cadila Healthcare acquires 'Actibile’ from Albert David for Rs55 Cr 

3. LIC ups stake in IDBI Bank to 14.3%

Trend in FII flows:   The FIIs were net  sellers of  Rs -2042.94 Cr in the cash segment on Monday while the DIIs were net buyers of  Rs 2494.44 Cr, as per the provisional figures released by the NSE.

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WEEKLY DERIVATIVE MARKET REPORT 19 MARCH TO 26 MARCH 2016

WEEKLY NIFTY FUTURE SPEAKS

NIFTY FUTURE ended at a level of 7606 level after making a low 7430 of and a high of 7615 this week. For this week NIFTY FUTURE is having the resistance of 7644 and above this level next resistance of 7731 and in down side having the support of 7512 and next support of 7430.

WEEKLY BANKNIFTY SPEAKS

Bank nifty future ended at a level of 15684.5 levels after making a low of 15206 and a high of 15749 this week. For this week bank nifty is having the resistance of 16152 and above this level next resistance of 16605 and in down side having the support of 15412 and next support of 14980.

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CS ROCKING PERFORMANCE OF THE DAY-21 MARCH 2016

STOCK FUTURES:

FUTURES INTRADAY:
HAVELLS  FUTURE  SELL  CALL 3  TG 
YES BANK FUTURE  BUY CALL 3 TG 
CEAT LTD  FUTURE  BUY CALL 2 TG 
CEAT LTD  FUTURE  BUY CALL 2 TG 

OPTION:
HAVELL 300 CALL BUY PUT 2 TG 
YES BANK 800  CALL BUY CALL 3 TG 

STOCK CASH

STOCK CASH INTRADAY:
MOTHERSUMI BUY  CALL 2 TG 
ASHKLEY BUY  CALL 2 TG 

STOCK CASH  PREMIUM:
HAVELLS BUY  CALL 1 TG
AMBUJACEM BUY CALL 2  TG   (BOOKED AT 233.95) & HOLD FOR TOMORROW WITH GIVEN SL

STOCK SUPER PREMIUM 
ASHOKLEY BUY CALL 1 TG & HOLD FOR TOMORROW WITH GIVEN SL

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INDIAN EQUITY MARKET WRAP UP-21 MARCH 2016

INDIAN BENCHMARKS: SENSEX RALLIES 333 POINTS, NIFTY 50 RECLAIMS 7700

The S&P BSE Sensex surged 333 points to reclaim its crucial psychological level of 25,000 on Monday, led by gains in ITC, HDFC, and ICICI Bank.

The Nifty50 breached its crucial mark of 7,700, supported by gains in consumer durable, realty, banks, auto, and oil & gas stocks. 

The broader market rallied in line with the benchmarks, with the BSE midcap and small cap indices gaining 1.40 and 1.36 per cent, respectively, for the day. A sharp rise in the Chinese market, gains seen on Dow Jones futures and positive trading in European markets, boosted the market sentiment.

The rupee continued its winning streak for the fourth session by rising 4 paisa to 66.46 against the US dollar on Monday, despite mixed cues from Asian currency markets.

HEADLINES OF THE DAY

Zee Entertainment in talks to acquire Reliance Broadcast

Aurobindo receives USFDA approval for Naproxen Sodium Tablets

Persistent Systems, IBM tie-up to contribute 15-20% to revenue in FY17

The crucial resistance for Nifty SPOT is now seen at 7730 and above this 7801. Support for the immediate term is now placed at 7614 and next support will be 7585.

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TOP CORPORATE NEWS-21 MARCH 2016

Persistent Systems, IBM tie-up to contribute 15-20% to revenue in FY17

Persistent Systems has tied-up with IBM to jointly work on the latter’s Internet of Things (IoT) platform.

The Company’s management stated that the partnership will be revenue accretive and will add about 15-20% to the company’s revenue in FY2017.

The deal will also add close to 500 employees which includes experts from IBM. The Company has also set up subsidiaries in Mexico and Israel in collaboration with IBM.

ITC market share in instant noodles segment rises to 30-40%

ITC market share in instant noodles segment rises to 30-40% (from 20% earlier) - positive for ITC’s non-cigarette FMCG business

ITC sales of its instant noodles brand Yippee are recovering and its market share has risen in the range of 30 to 40% (from 20%). pre-Maggi controversy the industry sales were Rs 250-300 crore per month.

The industry sales tanked to 5-10 per cent after the controversy broke, but now it is able to recover to nearly 50% of the original industry sales.

BHEL commissions another 270 MW coal-based unit in Punjab

State-run Bharat Heavy Electricals Ltd (BHEL) on Monday said it has commissioned second 270 MW coal-based unit in Punjab.

The unit has been commissioned at the 2x270 MW Goindwal Sahib coal-fired thermal power project of GVK Power & Infra Ltd (GVKPIL), located in Goindwal Sahib in Tarn Taran district, near Amritsar, Punjab.

Aurobindo receives USFDA approval for Naproxen Sodium Tablets

Aurobindo receives final approval from USFDA to manufacture and market Naproxen Sodium Tablets (OTC). This product is expected to be launched in Q1 FY16-17. Naproxen Sodium Tablets is used in the treatment and prevention of osteoporosis in postmenopausal women.

Zee Entertainment in talks to acquire Reliance Broadcast

Zee Entertainment in talks to acquire Reliance Broadcast Network (RBNL)

ZEEL is in talks with Reliance Broadcast Network Ltd (RBNL) to acquire 49% stake in the latter's BIG FM radio business as well as a 100% stake in its television channels.

If the deals happen it will be a long term positive for ZEEL, as it will consolidate its positioning in broadcasting business and also foray into the Radio segment will expand its value chain in the Media and Entertainment space, though deal valuation will be crucial to gauge impact in near to medium term.

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WEEKLY DERIVATIVE MARKET REPORT 14TH MARCH TO 19TH MARCH-2016

WEEKLY NIFTY FUTURE SPEAKS

NIFTY FUTURE ended at a level of 7520 level after making a low 7407.55 of and a high of 7583.40 this week For this week NIFTY FUTURE is having the resistance of 7610 and above this level next resistance of 7765 and in down side having the support of 7375 and next support of 7230.

WEEKLY BANKNIFTY SPEAKS

Bank nifty future ended at a level of 15276 levels after making a low of 14980.45 and a high of 15410 this week. For this week bank nifty is having the resistance of 15682 and above this level next resistance of 16186 and in down side having the support of 14787and next support of 14550.

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The market started off last day of the week on a positive note

The 30-share BSE Sensex rose 79.40 points to 24756.77 and the Nifty advanced 21.65 points to 7534.20.

Hindalco Industries, Bharti Airtel, TCS, ONGC, Adani Ports, Idea Cellular, Cairn India and Vedanta gained 1-2 percent while Lupin fell 2 percent on CLSA downgrade. Sun Pharma, HUL, Dr Reddy's Labs and BPCL were other losers.

The Indian rupee opened with a gain of 13 paise at 66.62 per dollar today against previous close of 66.75.

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INDIAN EQUITY MARKET OUTLOOK-17 MARCH 2016

INDIAN BENCHMARKS 

Indian equity benchmarks are tipped to witness a gap up opening on Thursday tracking a bullish trend in markets across Asia and a positive finish at Wall Street overnight after the US Federal Reserve scaled back its trajectory for raising interest rates this year, citing rising global economic and financial risks to growth in the world’s biggest economy, bolstering risk taking appetite. SGX Nifty is trading 79.50 points higher. Indian stock markets clawed back losses to close higher on Wednesday, led by gains in beaten-down healthcare stocks such as Lupin LUPN.NS and as a rise in crude oil prices propped up global markets.. The S&P BSE Sensex and CNX Nifty ended 0.53%-0.51% higher each.On Wednesday (March 16, 2016), 30-share Sensex ended at 24682.48, up by 131.31 points, or by 0.53%, and the NSE Nifty ended at 7498.75, up by 38.15 points, or by 0.51%.

                                                                      

Global Markets:

• Asian shares gained across the board on Thursday and the dollar was on the defensive after suffering substantial losses as risk appetite revived after the U.S. Federal Reserve reduced the number of interest rate hikes expected this year.

• European stocks ended little changed on Wednesday, coming off session highs after a report showed U.S. inflation rose more than expected last month, with gains for energy and auto company shares offset by a weaker banking sector.

• U.S. stocks rallied after the Federal Reserve left interest rates unchanged and signaled more gradual increases..

Major Headlines of the day:

• IOC, OIL, BPRL to buy 29.9% stake in Russian oil field for $1.3 bn

• TVS Motors' products will be sold through Snapdeal also now

• Reliance Jio to raise Rs 5,000 cr via debentures.

Trend in FII flows:   The FIIs were net  sellers of  Rs -625.58 Cr in the cash segment on Wednesday while the DIIs were net buyers of  Rs 680.16 Cr, as per the provisional figures released by the NSE.

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