Some positive move of market today

Markets indicate a marginally positive opening, in-line with Asian markets

Indian Indices:

SGX Nifty is indicating a positive for the Indian markets. Indian markets are expected to trade range bound, as traders await fresh triggers. In stock specific news, I-T dept attaches Gitanjali Gems's SEZ property in Hyderabad worth Rs1,200 cr in PNB fraud case. Fortis Bank is set to acquire 26% stake in Equirus capital . Asian shares gained in morning trade as comments from a US Federal Reserve official eased worries that the central bank might raise rates more aggressively this year, reports Reuters. Overnight, US stocks closed slightly higher. S&P 500 at 2,703 points is up 0.1%.

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Global Market:

·       Asian markets are trading in the green at present. Nikkei is currently up 0.29%, Hang Seng is trading 1.05% higher, while Shanghai Composite is up 0.25%.

·       US Markets: US Markets: Wall Street ended on a mixed note in yesterday’s session. The Dow climbed 0.7% to 24,962.48, S&P 500 inched up 0.1% to end at 2,703.96, while the tech-heavy Nasdaq edged modestly lower, closing at 7,210 down 0.1%. On the US economic front, a report released by the Labor Department showed a modest decline in first- time claims for US unemployment benefits in the week ended February 17th, which surprised most economists who had exacted it to remain unchanged.

Major Headlines of the day:

·        Bhushan Infosys files counterclaim against former CFO- After submitting an application to resolve its former chief financial officer Rajiv Bansal’s severance pay issue, Infosys has filed a counter-suit for Rs100 crore, alleging that he did not fulfil his obligations and breached trust.

·        Adani Transmission bags Rajasthan project, Adani Transmission said it has received a letter of intent from PFC Consulting Ltd, an arm of Power Finance Corporation, to construct, own, operate and maintain an inter-state transmission project in Rajasthan.

·        Fortis Healthcare founders Malvinder Mohan Singh and Shivinder Mohan Singh said they are trying to get Fortis Healthcare back on track even as they relinquished their board positions.

Trend in FII flows: The FIIs were Net Value of Rs -2335.34  the cash segment Thursday while the DIIs were Net Value of Rs 1059.42 as per the provisional figures.

Securities in Ban For Trade Date 23-FEB-2018:

NILL..

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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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Sensex opens 100 points higher, Nifty reclaims 10,400

Sensex opens 100 points higher, Nifty reclaims 10,400; IT gains post rupee move;

 Indian Indices:

The domestic equity benchmark indices are likely to open on a positive note today despite mixed cues from global markets. firm SGX Nifty Index Futures for February delivery,which was trading at 10,430.50, up by 65 points or 0.63at 11:22 AM Singapore time, also signaled a higher opening for the domestic equity bourses.The domestic equity market is expected to remain volatile this week ahead of February F&O expiry due this Thursday.

The equity market has begun the day on a positive note, with the Sensex gaining over 100 points, while the Nifty reclaimed 10,400. The Sensex is up 168.98 points or 0.50% at 33872.57, while the Nifty is up 46.60 points or 0.45% at 10407.00. The market breadth is positive as 358 shares advanced, against a decline of 138 shares, while 81 shares are unchanged. In case of stocks, IT stocks are reacting positively to the rupee's depreciation. TCS and Infosys are among Sensex gainers. Coal India, Sun Pharma and ONGC are the top losers.

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On the Economy front

 Ø Union Cabinet yesterday approved a new law to ban unregulated deposits to prevent duping of gullible investors through Ponzi 

   schemes and approved changes to the chit fund law.

Ø Government approved the methodology for auctioning coal blocks for commercial mining by the private sector, a move that would end 

   monopoly of Coal India.

On the Stock front

Ø Shares of Eros International will remain in focus in today’s trade as Reliance Industries has agreed to acquire 5 per cent stake in media 

firm Eros International, through a subsidiary, for USD15share.

Ø Reliance and Eros International Media, part of Eros International have agreed to a jointly produce and consolidate content from across the country.

PREVIOUS DAY ROUNDUP (DOMESTIC)

Ø The Indian equities ended lower for the third straight session on Tuesday, paring early gains, tracking weak cues from Asian peers, 

  due to sharp selling in the final hour of the day’s trade.

 Global Market:

· Major Asian markets are also trading in the green at present. Nikkei is currently up 0.63%, Hang Seng is trading 0.93% higher while Shanghai Composite is up 0.45%.

 · US Markets: Major Indices showed a lack of direction over the course of the trading session on Tuesday before ending the session in the red. The Dow slumped 1% ending at 24,964.76, the Nasdaq edged down 5.16 points to 7,234.31 and the S&P 500 fell by 15.96 points closing at  2,716.26

·European markets also closed in the green yesterday with CAX was up 0.64% and DAX closed 0.82% higher while FTSE closed flat down 0.01%,

 Major Headlines of the day:

· Bank Of India-Gets shareholders' nod to issue fresh capital as tier-I/tier-II bonds for pref shrs for amount up to Rs 10,000 cr, Gets shareholders' nod to issue shares worth RS 6,975 cr to govt

· Reliance Industries, Eros International PLC, Reliance invests in 5% stake of Eros for USD 48.75mn, To set up 1000cr corpus to produce content.

· Max India, Max Healthcare, Company’s equal JV, life healthcare group holdings ltd initiates preliminary discussions with company to explore possibility of acquisition of Life healthcare, shares in max healthcare institute limited by the company.

Trend in FII flows: The FIIs were Net Value of Rs -850.35  the cash segment Tuesday while the DIIs were Net Value of Rs 1437.24 as per the provisional figures.

Securities in Ban For Trade Date 21-FEB-2018:

1.BALRAMCHIN

2.DISHTV

3.FORTIS

4.GMRINFRA

5.IFCI

6.JISLJALEQS

7.JPASSOCIAT

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Sensex flat, Nifty still below 10,400; PSU Bank index falls 1%;

Sensex flat, Nifty still below 10,400; PSU Bank index falls 1%;

Indian Indices:

The Indian equity benchmark indices are likely to witness a negative opening today, tracking negative cues from Nifty futures on the Singapore Stock Exchange and weak trend across the global markets.Bearish trend in the SGX Nifty Index Futures for February delivery, which was trading at 10,376.50, down by 29 points or 0.28 per cent, at 10:52 AM Singapore time, also signaled a negative start for local bourses. In lack of any major economic event and ending of earnings season, all eyes will on global cues and February F&O expiry which will set direction for Indian equities this week. The banking stocks will remain in focus as the department of financial services has asked all banks to integrate their Core Banking System with the SWIFT and implement a rotation policy for staffers in wake of PNB fraud incident.

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On the Stock front

ØShares of Gitanjali Gems will remain in limelight as the company’s director and two executives resign, taking moral responsibility. 

    Adding the woes, Punjab National Bank has asked Gitanjali Group companies to pay "outstanding" dues amounting to Rs 1,045.88 crore Gitanjali Gems said in a regulatory filing. 

ØShares of Bhushan Steel may also see some movement as Tata Steel, JSW Living and a consortium of the company's own employees have submitted bids to take over the assets of debt laden steel maker.

PREVIOUS DAY ROUNDUP (DOMESTIC)

ØThe Indian equities ended lower on Monday, undermining firm cues from Asian peers, led by selling in index heavyweight such as 

Tata Steel, SBI, Asian Paints, Dr. Reddy's Laboratories, Adani Ports and L&T.

Global Market:

·       Major Asian markets are also trading in the red at present. Nikkei is currently down 1.22%, Hang Seng is trading 0.63% lower, while the Chinese markets continue to remain shut.

·  US Markets: Wall Street remained shut in yesterday’s trade on account of Presidents Day holiday, though the US stock futures were trading lower on Monday after Friday’s positive closing.

·       European markets also closed in the red yesterday with FTSE down 0.65%, CAX was down 0.48% and DAX closed 0.54% lower.

Major Headlines of the day:

·        IndiGrid Trust-Investment in power transmission asset of Techno Electric and Engineering Company Limited, Completed acquisitions of 3 units from Sterlite Power Grid Ventures Limited.

·        Fortis Healthcare clarifies-On reports of SEBI & SFIO investigations against company & Religare Enterprises, Got no communication, written or otherwise, from government on probe.

·        Religare Enterprises says raising of funds through issue of warrants for preferential issue by issuing 17.5 crore warrants at Rs 52.2 per share.

·        Sun Pharma's wholly owned subsidiary buys additional shares in Ranbaxy Malaysia Sdn Bhd, post completion stake will increase to 90.74 percent, 63 Moons, NSEL merger case another hearing on April 18.

Trend in FII flows: The FIIs were Net Value of Rs -895.79  the cash segment Monday while the DIIs were Net Value of Rs 586.52 as per the provisional figures.

Securities in Ban For Trade Date 20-FEB-2018:

1.BALRAMCHIN

2.DISHTV

3.FORTIS

4.GMRINFRA

5.HDIL

6.JISLJALEQS

7.JPASSOCIAT

8.ORIENTBANK

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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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