Closing Bell: Nifty ends above 11K, Sensex up 636 pts on possible roll-back of higher tax on FPIs.

After remained volatile in the first half on August 8, the bulls took the charge in the second half and help Nifty to close above 11,000 after media reports suggested that the government is likely to roll-back recently impose a higher tax on foreign portfolio investors (FPIs).

At close, the Sensex was up 636.86 points at 37,327.36, and the Nifty was up 177 points at 11,032.50. About 1379 shares have advanced, 1020 shares declined, and 149 shares are unchanged. 

HCL Technologies, Tata Motors, JSW Steel, Reliance Industries and M&M were among major gainers on the indices, while losers were Tata Steel, Cipla, UltraTech Cement, Indiabulls Housing and IndusInd Bank.

All the sectoral indices ended higher led by the IT, auto, bank energy, FMCG, metal, pharma and infra.

HEADLINES OF THE DAY

UCO Bank Q1:The company posted net loss at Rs 601.4 crore against loss of Rs 634 crore, while net interest income (NII) was up 8.7 percent at Rs 1,335 crore against Rs 1,228 crore, YoY.

Thermax has reported a whopping 28 percent year-on-year growth in June quarter profit at Rs 62.76 crore, driven by strong growth in energy business. Profit in same period previous year was reported at Rs 48.97 crore.

Shares of Adani Enterprises gained 3 percent intraday on August 8 after company posted consolidated net profit at Rs 601.2 crore against Rs 169.4 crore, while revenue was up 39.7 percent at Rs 10,561 crore versus Rs 7,558 crore, YoY. The profit included one-time gain of Rs 328.5 crore. 

Lupin announced the completion of the United States Food and Drug Administration (USFDA) inspection carried out at its Nagpur oral solid manufacturing facility. The inspection was carried out between August 5, 2019 and August 8, 2019. The inspection for the oral solid facility at Nagpur closed without any 483 observations. 

Benchmark indices gained strength amid volatility. The BSE Sensex rallied 210.43 points to 36,900.93 and the Nifty50 rose 56.10 points to 10,911.60.

The crucial resistance for Nifty spot is now seen at 11200 and above this 11460 Support for the immediate term is now placed at 10820 next support will be 10660.

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Market at close: The last hour selling has pulled the indices to the day's low level after remained volatile as Reserve Bank of India (RBI) has cut the repo rate by 35 bps at 5.40 in its policy meet.

At close, the Sensex was down 286.35 points at 36,690.50, while Nifty was down 92.80 points at 10,855.50. About 1107 shares have advanced, 1348 shares declined, and 159 shares are unchanged. 

Indiabulls Housing, M&M, Tata Steel, Tata Motors and BPCL were among major losers on the Nifty, while gainers were Zee Entertainment, Cipla, HUL, Yes Bank and Hero Motocorp.

Except IT and pharma, all other sectoral indices ended in the red led by bank, metal, auto, energy and infra. BSE midcap and smallcap index ended with marginal loss.

Adani Ports Q1 earnings:

The company's Q1 net profit at Rs 1,022.4 crore including one-time loss at Rs 58.6 crore. Revenue of the company for the June quarter was at Rs 2,794.5 crore

Its other income was up Rs 422.5 crore versus Rs 292.8 crore. EBITDA margin was up at 66.1% versus 52.8%.

Cipla Q1 result:

The company's Q1 consolidated net profit was up 6 percent at Rs 478.2 crore against Rs 451.3 crore. Revenue was up at Rs 3,989 crore against Rs 3,940 crore, YoY.

Earnings before interest, tax, depreciation and amortization (EBITDA) rose 24.4% at Rs 904.6 crore against Rs 727.4 crore and margin was up 220 bps at 22.7 percent versus 18.5 percent.

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Closing Bell : The final hour recovery helped the Nifty to close around 11,000 level and Sensex above 37,000

At close, the Sensex was down 462.80 points at 37,018.32, while Nifty was down 138 points at 10,980. About 830 shares have advanced, 1587 shares declined, and 147 shares are unchanged. 

Vedanta, JSW Steel, Hindalco Industries, SBI and Tata Motors were among major losers on the Nifty, while gainers were Wipro, Bharti Infratel, Maruti Suzuki, Reliance Industries and Power Grid Corp.

HEADLINES OF THE DAY

TVS Motor July auto sales: The total sales fell 13 percent at 2.79 lakh units against .21 lakh units. The two-wheeler sales down 13.7% at 2.65 lakh units against 3.07 lakh units, YoY.

Motorcycles sales down 10.7% at 1.08 lakh units versus 1.21 lakh units and scooter sales down 11% at 1.05 lakh units against 1.18 lakh units. Total exports down 3.1 percent at 69,994 units against 72,242 units, YoY. 

The crucial resistance for Nifty spot is now seen at 11100 and above this 11200 Support for the immediate term is now placed at 10800 next support will be 10720 .

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Closing Bell: Nifty ends below 11,300, Sensex up 50 pts; Yes Bank gains 9%, auto stocks jump.

The benchmark indices ended on positive note on July 26 breaking six consecutive day fall with Nifty finished near 11,300.

At close, the Sensex was up 51.81 points at 37,882.79, while Nifty was up 32.10 points at 11,284.30. About 1296 shares have advanced, 1173 shares declined, and 161 shares are unchanged. 

Yes Bank, Bajaj Finance, Bajaj Finserv, Eicher Motors and Hero Motocorp were among major gainers on the Nifty, while losers were Vedanta, IOC, HDFC, Tech Mahindra and Reliance Industries.

Among sectors, except energy and IT, all other indices are ended on the higher side led by auto (up 2 percent), PSU bank (up 1.1 percent), pharma (up 1 percent) followed by FMCG, infra and metal. BSE midcap and smallcap indices ended with marginal gains.

HEADLINES OF THE DAY

Jubilant Life Q1 result: Consolidated net profit down 8.6% at Rs 185 crore versus Rs 202.5 crore, revenue was up 5% at Rs 2,182 crore versus Rs 2,079 crore, YoY.

Force Motors Q1: Net profit down 36.2% at Rs 26.15 crore against Rs 41 crore, revenue down 9.7% at Rs 802.48 crore against Rs 889.15 crore, YoY.

Shriram Transport buys back NCDs: Shriram Transport has bought back secured redeemable non-convertible debentures worth Rs 210.7 crore issued by the company on private placement basis.

The crucial resistance for Nifty spot is now seen at 11100 and above this 10960 Support for the immediate term is now placed at 11400 next support will be 11660.

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Sensex, Nifty flat in opening; oil retailers, banks decline; IT stocks gain

Sensex, Nifty flat in opening; oil retailers, banks decline; IT stocks gain

Indian Indices:   

The Indian equity benchmark indices are set to open on a flat note today amid mixed cues from other Asian peers and muted trend in Nifty futures on the Singapore stock exchange.The Asian markets have opened on a mixed note in early trade on Thursday as the threat of imminent US military action in Syria rattled investors, Muted trend in the SGX Nifty Index Futures for April delivery, which were trading at 10,426, up by 8 point or 0.08%, at 11:28 AM Singapore time, signalled a flat opening for the domestic equity bourses.

Technology stocks outperformed benchmark indices, taking advantage of falling rupee. The Nifty IT index jumped 1.6 percent.Benchmark indices opened flat amid weak global cues and spike in crude oil prices, as investors await corporate earnings and macro data.The 30-share BSE Sensex was up 47.56 points at 33,988 while the 50-share NSE Nifty fell 17.40 points to 10,399.80.HCL Technologies, TCS, Tech Mahindra, ONGC, Tata Motors, Bajaj Auto and Bharti Infratel were early gainers. HPCL, BPCL and IOC fell up to 3 percent. Dr Reddy's Labs, Sun Pharma, ICICI Bank, Kotak Mahindra Bank and Alkem Labs were under pressure.

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Global Market:

• Major Asian stocks traded sideways on Thursday as investor confidence seen earlier in the week wavered overnight amid geopolitical tensions.

• US Markets: US stocks fell on Wednesday after President Donald Trump taunted Russia on Twitter to “get ready” for a possible missile strike on Syria.

• European markets also ended in the red yesterday with the FTSE closing 0.13% lower, CAC ended down 0.56% while the DAX ended 0.84% lower.

Major Headlines of the day:

• A Bhushan Steel: NCLT reserves orders on resolution plan approval

• Biocon: Mylan and Biocon have sought to accelerate introduction of Adalimumab Biosimilar In EU.

• Binani Cement case Dalmia Bharat Group Company RPPL writes to RBI Governor, SBI Chairman, Committee of Creditors w.r.t Binani Cement, Dalmia Bharat Group reaches out to CVC showing concern over Binani Cement case, Dalmia asks RBI to examine Binani Cement case for violation of IBC process

• Tata Motors: Global wholesales at 1.53 lakh units in March.

• Larsen & Toubro: It has signed an MoU With BEL To Develop Defence Products

• Tata Sons: The company will form Tata Aerospace & Defence

• IDBI Bank: RBI Imposes Rs 3 crore penalty for non-compliance with IRAC Norms.

Trend in FII flows: 

The FIIs were Net Value of Rs 362 the cash segment Wednesday while the DIIs were Net Value of Rs  111 as per the provisional figures.

Securities in Ban For Trade Date 12-APR-2018:

1.BALRAMCHIN
2.JETAIRWAYS
3.JPASSOCIAT

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Markets indicating a weak opening as trade wars escalate;

Markets indicating a weak opening as trade wars escalate;

Indian Indices:

SGX Nifty indicating a negative opening for the Indian market. SGX Nifty indicating a negative opening for the Indian markets.

Indian markets are expected to trade with a negative bias continuing the negative momentum witnessed in the previous week, as traders react to escalating trade war concerns between European Union and the US. In stock specific news, according to media reports IOC, BPCL may buy 26% stake each in GAIL. Zee Entertainment has decided to call off its acquisition of 9x Media and INX Music.

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Global Market:

·      Major Asian markets are trading in the red at present. Nikkei is currently down 0.87%, Hang Seng is trading flat up 0.08% higher, while Shanghai Composite is down 0.03%.

·       US Markets: Stocks ended marginally higher in Friday’s trading session. The Dow gained 0.3% to 24,946.51, S&P 500 edged up 0.2% to 2,751.01 while the tech-heavy Nasdaq ended flat up 0.25 points at 7481.

·       European markets closed in the green on Friday with the FTSE closing 0.34% higher, CAC ended 0.64% higher while DAX ended up 0.84%.

Major Headlines of the day:

·        IOC, BPCL may buy 26% stake each in GAIL- State-owned Indian Oil Corp. (IOC) and BPCL Ltd may buy 26% stake each in gas utility GAIL India Ltd, paying the government over Rs200 billion each to become integrated energy firms.

·        IndiGo grounds another plane- Less than a week after the aviation regulator grounded eleven A320neos aircraft of InterGlobe Aviation Ltd-run IndiGo airline over safety concerns, IndiGo withdrew another A320neo due to an engine problem.

·        M&M, Ford India may sign pact to work together- Mahindra & Mahindra (M&M) and Ford India are likely to formalize a memorandum of understanding that they signed six months ago and establish a partnership in the week to 10 days.

Trend in FII flows:   The FIIs were Net Value of Rs -150.46 the cash segment Fridaywhile the DIIs were Net Value of Rs -770.53 as per the provisional figures.

Securities in Ban For Trade Date 19-MAR-2018:

1.BANKINDIA

2.BEML

3.DHFL

4.HDIL

5.IDBI

6.JPASSOCIAT

7.SAIL

8.TV18BRDCST

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Market Prediction for the whole month

Markets expected to be volatile ahead of Feb Expiry;

Indian Indices:

The Indian equity benchmark indices are likely to open on a negative note today amid muted trend in Nifty futures on the Singapore stock exchange and soft cues from other Asian peers. negative SGX Nifty Index Futures for February delivery, which were trading at 10,357, down by 45 points or 0.43%at 11:24 AM Singapore time, signalled a flat to negative opening for the domestic equity bourses. Volatility is likely to remain high in today session as traders will roll their position from February series contract to March series contract on expiry today.

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On the Economy front

ØThe markets may react to a report that India's economic growth is likely to be in the range of 6.5

     

Ø  percent this fiscal. Further, EPFO lowered the rate of interest on employees provident fund to 8.55% for 2017­18, from 8.65% in the previous fiscal.

PREVIOUS DAY ROUNDUP (DOMESTIC)

ØSnapping three day losing streak, the Indian equities ended higher on Wednesday, undermining weak cues from Asian peers, led by 

rally in IT and Teck stocks after Nasscom said the country’s IT exports could grow between 7 and 9 per cent in 2018/­19

Global Market:

·       Asian markets are also trading mixed at present. Nikkei is currently down 1.25%, Hang Seng is trading 1.12% lower, while Shanghai Composite is up 1.40%.

· US Markets: Wall Street witnessed selling pressure in yesterday’s trade. The Dow fell 0.7% to 24,797.78, the Nasdaq dipped 0.2% to 7,218.23 and the S&P 500 fell 0.6% to 2,701.33. The lower close on Wall Street came as traders expressed concerns after the minutes of the Fed's January meeting indicated the central bank still plans to raise interest rates three times in 2018.

Major Headlines of the day:

·        Bhushan Power lenders ask Tatas to revisit conditions, The consortium of lenders to Bhushan Power & Steel has asked Tata Steel to waive certain conditions in its offer for the company.

·        Tata may sell auto components unit Tata Auto Comp Systems, Tata group is planning to sell its automotive parts manufacturing company Tata Auto Comp Systems Ltd, reports Mint. The group is currently in talks to hire an investment bank to manage the sale.

·        United Spirits set to auction Mallya’s Mumbai house, United Spirits Ltd is set to invite bids for its sea-facing mansion called Niladri on Napean Sea road in South Mumbai, reports Mint. Former chairman Vijay Mallya has often used the property, priced at around Rs300 crore, as his Mumbai residen.

Trend in FII flows: The FIIs were Net Value of Rs -1214.18  the cash segment Thursday while the DIIs were Net Value of Rs 1375.48 as per the provisional figures.

Securities in Ban For Trade Date 22-FEB-2018:

1.BALRAMCHIN

2.FORTIS

3.GMRINFRA

4.IFCI

5.JISLJALEQS

6.JPASSOCIAT

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Market falls with uncertainity

Sensex falls 100 pts, PSU Bank dips 1%; Bhushan Steel up 20%;

Indian Indices:

The Indian equity benchmark indices are likely to open higher today, tracking firm Nifty firm trend in the SGX Nifty Index Futures for February delivery, which was trading at 10,487, up by 24 points or 0.23at 11:26 AM Singapore time, also signaled a positive opening for the domestic equity bourses. Market participants is expected to react to recent data showing foreign investors have pulled out USD 1 billion or Rs 6,850 crore so far this month from the Indian stock market due to selloffs globally. The equity market is expected to remain volatile ahead of February F&O expiry on this Thursday. The banking stocks will remain in focus as the PNB mess will take a toll on other banks also futures on the Singapore Stock Exchange and positive trend across the global markets.

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On the Stock front

ØShares of Reliance Industries Limited will remain in focus as the company has said that its arm Reliance Industrial Investments and 

Holdings Limited will acquire equity shares of The Indian Film Combine Private Limited ("IFC"), a company incorporated in 1942.

ØShares of Reliance Communications is expected to remain on investors’  radar as the shareholders of Anil Ambani­led company have 

approved the sale of its wireless assets to pare debt.

On the Corporate front

ØInfosys, India's second largest software services firm, has said that it has divested its investment in OnMobile Systems Inc for USD 2.49 million. "...it (Infosys) has on February 15, 2018 signed an agreement for divestment of its entire investment from OnMobile Systems Inc.

Ø ONGC Videsh Ltd, the overseas arm of state­owned Oil and Natural Gas Corp (ONGC), will bid for development rights of Iran's giant 

South Azadegan Oilfield in direct competition with the likes of global giants like Shell, France's Total, Petronas of Malaysia and Russias Gazprom.

PREVIOUS DAY ROUNDUP (DOMESTIC)

ØThe Indian equities ended lower in volatile trade on Friday, undermining firm cues from Asian peers, led by sharp sell­off in final hour 

of day’s trade with PSU bank index falling over 2 percent.

Global Market:

·       Major Asian markets are shut today. Nikkei is currently up 1.31%.

·       US Markets: Wall Street ended Friday's session on a mixed note while the Dow and S&P 500 closed higher for the 6th consecutive session the Nasdaq ended the day marginally lower.

·       European markets closed in the green on Friday with FTSE up 0.82%, CAX was up 1.12% and DAX closed 0.85% higher.

Major Headlines of the day:

·       The Indian Government has said that it may soon unveil a Rs 15,000 crore plan to ensure the farmers get the minimum support 

price (MSP) for their crops even when market prices fall below the benchmark rate.

·        PNB-Clarifies to exchanges on the news: Government asks fraud hit PNB to conduct forensic audits, "Bank hasn't received any instruction from government authority and hence can't comment".

·        Religare Enterprises-To raise funds upto Rs 1,200 crore through issue of shares/convertible securities/debt-Appointment of 3 board of directors.

Trend in FII flows: The FIIs were Net Value of Rs -1065.99  the cash segment Friday while the DIIs were Net Value of Rs 1127.78 as per the provisional figures.

Securities in Ban For Trade Date 19-FEB-2018:

1.BALRAMCHIN

2.DISHTV

3.FORTIS

4.GMRINFRA

5.HDIL

6.JISLJALEQS

7.JPASSOCIAT

8.ORIENT BANK

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Volatility status for the whole week

Volatility status for the whole week-:

Nifty and Sensex ended on flat note in the week ended February 16. It has been a volatile truncated week as the benchmark indices have been dancing to the tune of global equity indices.The highlight of the week is the Punjab National Bank (PNB) fraud case and because of this the Bank Nifty index remained under pressure during the week, which also dampened the sentiment across the street.

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Gitanjali Gems saw severe selling pressure after the company came under scanner of various investigating agencies following Punjab National Bank'sfraud detection. Its market valuation went down by Rs 300 crore in the last three trading sessions.

"Going forward, it is crucial that Nifty manages to break either of the 10400 or 10600 levels before we could see any specific direction being established, said Hadrien Mendonca, Senior Technical Analyst at IIFL.

The index consolidated throughout this week, a pattern which is likely to continue in the coming week as well unless it breaks above 10600.

253 stocks has touched the 52-week high including Adani Enterprises, Ashok Leyland, Bharat Forge, HCL Infosystems, Mastek, L&T Infotech, while 183 stocks touched 52-week low including Corporation Bank, DB Corp, Dena Bank, Gitanjali Gems, Force Motors in the week ended February 16, 2018.

 However, the Nifty is stuck in a narrow trading range between 10400 to 10600 levels for the past seven days.

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