Commodity Market News-27 Nov 2014

Gold:- prices fell by Rs 20 to Rs 26,880 per 10 grams at the bullion market in the national capital on Wednesday on easing demand from jewellers and retailers at prevailing levels amid a weak global trend.

silver:- strengthened by Rs 175 to Rs 37,200 per kg on persistent buying support from industrial units and coin makers.

Nickel:- prices moved up by 0.91 per cent to Rs 1,008.30 per kg in futures trade today as speculators enlarged their position, tracking a firming trend in spot market on increased demand from alloy-makers.

Copper:- prices gained 0.34 per cent to Rs 414.45 per kg in futures trade today as speculators enlarged positions, supported by pick up in demand from consuming industries amid a firming global trend.

Oil:- prices rose in Asia Friday on fresh hopes that the OPEC cartel will overcome internal resistance to trim output, while upbeat US economic data also provided support, analysts said.

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Sensex, Nifty flat; ITC declines, Tata Power rises

Equity benchmarks opened flat on Thursday, the expiry day for November series derivative contracts. The Sensex fell 13.62 points to 28372.57 and the Nifty declined 3.55 points to 8472.20.

Tata Power, NTPC, Sun Pharma, Gail India, M&M, Asian Paints, BPCL and ACC gained 0.6-1 percent while ITC, ONGC, Tata Motors, Bharti Airtel, Dr Reddy's Labs and DLF lost 0.7-1.7 percent.

The Indian rupee opened marginally higher at 61.80 per dollar today compared to 61.84 a dollar on Wednesday.

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INDIAN EQUITY MARKET OUTLOOK-27 NOV 2014

INDIAN BENCHMARK are likely to open on a flat note ahead of the expiry of the November F& O (futures & options) contracts and weakness in most fellow Asian stocks. Markets may witness heightened volatility today as traders roll over their positions in November derivative contracts. SGX Nifty is trading 17.00 points higher.

FURTHER, Stake sale overhang a good opportunity to buy Coal India, ONGC

Godrej Tyson to expand activities in smaller towns

Promoter group to infuse Rs 92 crore in Orchid Pharma

Trend in FII flows: The FIIs were net buyers of Rs 181.46 cr in the cash segment on Wednesday while the DIIs were net sellers of Rs. -314.64 cr, as per the provisional figures released by the NSE.

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CS ROCKING PERFORMANCE OF THE DAY:

STOCK FUTURES:

FUTURES INTRADAY
JSW ENERGY FUTURES BUY CALL 3TG
ADITYA BIRLA LTD FUTURES BUY CALL 3TG
ZEE LTD FUTURES BUY CALL 3 TG
SKS MICROFINANCE FUTURES BUY CALL 1TG
BHEL FUTURES BUY CALL 1TG
DISH TV FUTURES BUY CALL 1 TGT
MARUTI FUTURES SELL CALL COST BOOKED AT 3252

PREMIUM FUTURES
DLF FUTURES BUY CALL 1TGT (BOOKED AT 154.80)
MRF FUTURES BUY CALL 3TGT.

NIFTY FUTURES:
BANK NIFTY FUTURES BUY CALL 3TGT

OPTION:
IGL 430 CALL 3 TG
BHEL 260 CALL 2 TG

STOCK CASH:

STOCK CASH INTRADAY:
NBCC LTD 1TGT

STOCK CASH PREMIUM:
JK TYRE BUY CALL 3TGT (BOOKED AT 602)
JUST DIAL BUY CALL 1TGT

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INDIAN EQUITY MARKET WRAP UP-26 NOV 2014

INDIAN BENCHMARKS edge up on hopes of rate cut

INDIAN EQUITY BENCHMARKS  edged up on Wednesday, gaining for a fourth session in five, led by blue chips on continued hopes the central bank would follow other countries such as Japan and China in easing monetary policy to boost economic growth. The RBI holds its policy review on Tuesday amid growing expectations it could cut interest rates after a sharp fall in consumer inflation.

ITC, which fell 5.2 percent in the previous session on the government's move to ban the sale of unpackaged cigarettes, gained 2.3 percent as analysts said the rule would have limited impact.

Further , Financial Technologies rose 4.7 percent after it sold its stake in MCX-SX for 884.19 billion rupees(14.30 billion US dollar) to well-known investor Rakesh Jhunjhunwala.

Bajaj Auto closed down 1.1 percent and Bharti Airtel Ltd fell 2.5 percent after Nigeria's central bank devalued the naira by 8 percent and raised interest rates sharply on Tuesday.

The crucial resistance for Nifty is now seen at  8545 and above this 8610. Support for the immediate term is now placed at 8430 and next support will be 8375.

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TOP CORPORATE NEWS-26 NOV 2014

Tata Power announces CERC passes Tariff order for Maithon Power Plant
Tata Power Company announced that Central Electricity Regulatory Commission has passed the Tariff Order for the 1050 MW power plant of Maithon Power (MPL) for FY 2011-14. MPL is a joint venture between the Company (74%) and Damodar Valley Corporation (DVC) (26%). The new tariff would be applicable from COD for each of the generating units. This will pave the way for meeting the targeted returns from the project.

Govt plans to offload part of stake in Coal India and ONGC
The government plans to offload a part of its stake in Coal India and ONGC in two tranches to get a fair value of the equity. The Cabinet has approved 5% stake sale in ONGC and 10% divestment in Coal India, which could garner around Rs25000 crore. However, government feels that the current prices are under-valued; hence it is contemplating to split the share sale of Coal India and ONGC in tranches.

Aurobindo Pharma to raise $350 million through issue of securities
The board of directors has approved raising of $ 350 million (over Rs2,000 crore) through the issue of securities. This will be through any of the available modes including follow-on offer and QIP. The proceeds would be utilised for expansion and growth of Aurobindo. The company recently emerged as the top bidder for the acquisition of US nutritional supplement maker Natrol with $132.5 million (a little over Rs800 crore) and also disclosed a planned capex of Rs1300 crore in next two years to expand capacities including a new capacity for production of peptide based drugs. We have Buy rating on Aurobindo Pharma with price target of Rs1272

Tech Mahindra launches Telematics Platform for the Insurance Industry
Tech Mahindra announced the launch of Usage Based Insurance ( UBI), a big data and predictive analysis driven platform for auto insurers. It allows them to adjust premiums according to actual usage of individual drivers instead of industry averages. The platform is flexible to fit to the growing needs of global insurance enterprises, where the market is expected to grow $ 100B plus by end of the decade

Hero MotoCorp launches the Xtreme Sports
Hero MotoCorp has launched a new variant of its premium segment motorcycle i.e. Xtreme Sports. The new variant has a different design as compared to the Xtreme. The variant is powered by a 150cc engine with a power output of 15.2PS.The vehicle is priced between Rs67,337 and Rs70,300 ex-showroom Mumbai. Hero MotoCorp has been a fringe player in the premium motorcycle segment and launch of the new variant in the segment is not expected to be a volume generator for the company and hence is neutral for the stock.

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Sensex, Nifty down; weak crude no cheer; ITC up 2%

The Sensex down around 40 points to 28298 and the Nifty down 18 points to 8845.

Banking shares were under pressure in early trade, with the Bank Nifty down around 140 points to 17896.

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INDIAN EQUITY MARKET OUTLOOK-26 NOV 2014

INDIAN BENCHMARK  are likely to open little changed today tracking a subdued trend in fellow Asian peers and a flat closing at Wall Street overnight as an upward revision of Q3 GDP data was offset by a dip in US consumer confidence and slowing home prices gains, clouding the outlook for the world’s biggest economy. SGX Nifty is trading 15.00 points lower.

FURTHER, Govt to divest CIL, ONGC, SAIL by end of Jan 2015.

Power Grid stock extend losses on MSCI exclusion.

Godrej Properties opens first international office in Dubai.

Trend in FII flows: The FIIs were net buyers of Rs 1168.94 cr in the cash segment on Tuesday while the DIIs were net sellers of Rs. -732.12 cr, as per the provisional figures released by the NSE.

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CS ROCKING PERFORMANCE OF THE DAY:

STOCK FUTURES:

FUTURES INTRADAY
TVS MOTORS FUTURES SELL CALL 3TG
UCO BANK FUTURES SELL CALL 3TG
ZEE LTD FUTURES BUY CALL 3 TG
EXIDE INDUSTRIES FUTURES SELL CALL 3TG
SHRI RAM TRANSPORT FUTURES SELL CALL 1TG
BANK OF BARODA FUTURES SELL CALL COST EXIT

PREMIUM FUTURES
DR REDDY FUTURES BUY CALL BOOKED AT 3586

NIFTY FUTURES:
BANK NIFTY FUTURES SELL CALL 3TGT

OPTION:
ITC 375 PUT 3 TG
ZEE LTD 390 CALL 3 TG
BANK NIFTY 18200 PUT 1TGT
DABUR INDIA 240 CALL 1TGT

STOCK CASH:

STOCK CASH INTRADAY:
ACC LTD SELL CALL 2TGT
ADVANTA BUY CALL 1TGT
ALLAHABAD BANJ SELL CALL BOOKED AT 112,90

STOCK CASH PREMIUM:
AJANTA PHARMA SELL CALL 1TGT

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INDIAN EQUITY MARKET WRAP UP-25 NOV 2014

INDIAN BENCHMARKS retreats from record high ; ITC slumps

INDIAN EQUITY BENCHMARKS  fell on Tuesday, retreating from a record high hit earlier in the session as financial firms slumped on worries parliament would delay an insurance bill, while new rules for offshore derivatives raised worries over foreign flows.

Cox & Kings raises Rs1000crore through QIP issue.

Further , Dr Reddy’s launches anti-cancer injection in US.

Bharti Airtel Africa enters agreement to sell its Nigeria tower

The crucial resistance for Nifty is now seen at  8545 and above this 8610. Support for the immediate term is now placed at 8410 and next support will be 8325.

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TOP CORPORATE NEWS-25 NOV 2014

RBI planning more measures for NBFCs
RBI Dep governor Dr R Gandhi, RBI is considering more measures for NBFCs, including more oversight and bringing state-owned firms under central bank supervision. Other measures being considered include a review of regulations of NBFCs within the microfinance sector and a system for tackling customer complaints. While the norms have already been notified for NBFCs recently, the RBIs statement suggests tightening of norms for govt owned NBFCs like PFC, REC which would be negative for these companies.

ITC drags Sensex, Nifty
ITC has cracked 5 per cent, and has alone accounted for a loss of 115 points on the BSE Sensex. The markets have extended losses in the mid-noon deals on the back of sharp fall in ITC on reports that the Health Ministry has approved a ban on sale of loose cigarettes. The Cigarette maker - ITC alone has accounted for a loss of 115 points on the BSE Sensex.

Siemens slips ahead of result
The stock has tumbled over 5 per cent from the day's high. Siemens is trading on a weak note as the traders are cautious ahead of its results. The company will be announcing its Q4 results today. The stock extended its earlier losses and cracked 5.4 per cent from the day's high of at Rs 945 to touch a low at Rs 894.Now, the stock is now down 4 per cent at Rs 898. On the BSE counter, so far 53,000 shares are traded, against its two-week daily average volume of 46,000 shares.

Ahmednagar Forgings sheds another 10 per cent
The stock has plunged by 21.6 per cent from the highs yesterday after announcing Q2 results. The company reported a significant 23.2 per cent fall in Q2FY15 net profit at Rs 44.34 crore when compared with Rs 57.73 crore for Q1FY14. Total was down marginally at Rs 642.52 crore from Rs 694.52 crore on q-o-q basis.

JK Tyre hits record high on fund buying
JK Tyre & Industries surged nearly to Rs578.8, after a foreign fund bought 0.5% stake in the tyre maker on November 24, 2014. Foreign fund Merrill Lynch Capital Markets Espana S.A. SVB bought 2.07 lakh shares of JK Tyre & Industries at an average price of Rs536.24 per share in a bulk deal on NSE on Monday, (November 24, 2014).

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Sensex, Nifty open flat; Bharti gains 2%, HDFC & ICICI fall

The Sensex is down 14.18 points at 28485.36 and the Nifty is down 11.90 points at 8518.25. About 476 shares have advanced, 277 shares declined, and 26 shares are unchanged.

Coal India, ONGC, ICICI Bank, HDFC and GAIL are major losers while Bharti Airtel, BHEL, Cipla, Sesa Sterlite and Sun Pharma are among the top gainers in the Sensex.

The Indian rupee opened flat at 61.90 per dollar against previous day's closing value of 61.94 a dollar.

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INDIAN EQUITY MARKET OUTLOOK-25 NOV 2014

INDIAN BENCHMARK  are likely to open on a positive note tracking a firm trend in fellow Asian stocks and yet another record high closing at Wall Street amid easing concerns over the health of the global economy on central bank action in China and Europe . SGX Nifty is trading 12.50 points higher.

FURTHER, Tata Motors to focus on rural market to boost sales.

Essar Steel raises $1 bn to fund rupee debt.

Adani Power buys Avantha's 600 MW plant for Rs4,200 crore.

Trend in FII flows: The FIIs were net buyers of Rs 407.42 cr in the cash segment on Monday while the DIIs were net sellers of Rs. -162.78 cr, as per the provisional figures released by the NSE.

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