The Indian equity market is likely to open on a flat to positive note.

The Indian equity market is likely to open on a flat to positive note

Indian Indices:                             SGX Nifty is indicating a marginally positive opening for the Indian markets. Indian markets are expected to trade range bound with a positive bias in today’s session. In stock specific news, Vedanta plans to raise Rs4,500cr via NCDs. According to media reports, Larsen & Toubro is set to win EPC for a new dry dock in Kochi.

Tracking modest gains in Nifty futures on the Singapore Stock Exchange and positive trend across Asian peers. modest gains in SGX Nifty Index Futures for March delivery, which was trading at 10,177.50, up by 19.50 points or

0.19, at 11:30 AM Singapore time, also signaled a flat to positive opening for the domestic equity bourses. Dalal Street investors will react to Goldman Sachs’ forecast for India's economy on Tuesday where it downgrades its real gross domestic product (GDP) forecast on India for the year to March 2019 to 7.6% from 8% earlier in the wake of recent fraud at Punjab National Bank. It warned that this would constrain credit growth.

 

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Global Market:

·      Major Asian markets are trading in the green at present barring Nikkei, which is currently down 0.47%, Hang Seng is up 1.17% while Shanghai Composite is up 0.58%.

·       US Stocks staged a comeback in yesterday’s session after the steep fall witnessed on Monday. The recovery was mainly led by strong gains in energy stocks. The Dow Jones advanced 0.5% to 24730, S&P 500 was up 0.2% closing at 2717, while the Nasdaq surged 0.3% ending the session at 7364. Traders also waited on the sidelines, as the Fed began its two-day monetary policy; it will make its interest rate announcement today.

·       European markets also ended in the green yesterday with FTSE closing 0.26% higher, CAC ended 0.56% higher, while DAX ended up 0.73% .

Major Headlines of the day:

·        Grounded IndiGo jets to get spare engines from Pratt & Whitney- Pratt & Whitney will provide spare engines within 40 days to

get all grounded Airbus SE A320neo aircraft at IndiGo, with the first delivery scheduled for Wednesday.

·        SBI seeks Supreme Court nod for RCom asset sale- State Bank of India (SBI) on Tuesday approached the Supreme Court to seek approval for the sale of Reliance Communications Ltd’s (RCom) assets to Reliance Jio Infocomm Ltd.

·        GSPC to sell 28.4% stake in Gujarat Gas to subsidiary GSPL- Gujarat State Petroleum Corp. Ltd (GSPC) has decided to sell a 28.4% stake in Gujarat Gas Ltd, its city gas distribution business, to its subsidiary Gujarat State Petronet Ltd (GSPL). Read more

Trend in FII flows: The FIIs were Net Value of Rs 344.16 the cash segment Tuesday while the DIIs were Net Value of Rs 731.17 as per the provisional figures.

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

1.DHFL

2.HDIL

3.IDBI

4.IFCI

5.JINDALSTEL

6.JPASSOCIAT

7.RCOM

8.SAIL

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Market Conditions Showing Negative Bias

Markets open lower amidst negative global cues.

Indian Indices:

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 yesterday’s trade. The Indian equity benchmark indices are likely to open on a negative note tracking bearish Nifty futures on the Singapore stock exchange and weak cues from Asian peers. Weak SGX Nifty Index Futures for March delivery, which was trading at 10,073, down by 42 points or 0.42 at 11:26 AM Singapore time, also signaled a negative opening for the domestic equity bourses.

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Global Market:

·      Major Asian markets are trading in the red at present. Nikkei is currently down 0.99%, Hang Seng is down 0.66% while Shanghai Composite is down 0.39%.

·       US Markets saw major dip with Dow Jones shedding 335 points to close 1.35% lower, while Nasdaq index tumbled 1.84% as fresh regulation worries tanked technology stocks.

·       European markets also saw deep cuts with FTSE closing 1.7% lower, CAC ended 1.1% lower while DAX ended 1.4% lower.

Major Headlines of the day:

·        L&T set to win EPC contract for new dry dock- Larsen & Toubro Ltd has emerged the lowest bidder in a tender issued by Cochin Shipyard Ltd for the engineering, procurement and construction (EPC) contract of a new dry dock.

·        Godrej Agrovet may join race to acquire Ruchi Soya- Godrej Agrovet Ltd plans to bid for Ruchi Soya Industries Ltd, which is undergoing bankruptcy resolution, with an eye on its palm oil business.

·        Nalco to form joint venture for auto-grade aluminium unit- National Aluminium Company Ltd (Nalco) has firmed up plans to set up a joint venture with Canada-based Almex for the production of automotive-grade aluminium.

Trend in FII flows:   The FIIs were Net Value of Rs 292.23 the cash segment Monday while the DIIs were Net Value of Rs -191.52 as per the provisional figures.

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

1.DHFL

2.HDIL

3.IDBI

4.JPASSOCIAT

5.R COM

6.SAIL

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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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Markets slide on global sentiment

Markets slide on global sentiment 

Market’s in my view had more or less factored in TDP’s exit from the NDA after its Ministers’ exit from the Union Cabinet and the vociferous disruption of the ongoing session by its MPs of both the Houses of Parliament. BJP’s shock defeat in the UP by polls and the prospect of SP and BSP forming an alliance in 2019 polls and it’s likely adverse impact on BJP’s tally from UP in 2019 is what has got the market concerned, Ajay Bodke, CEO & Chief Portfolio Manager PMS Prabhudas Lilladher told FE Online.

Local political uncertainty, a string of share sales and weak sentiment in global equities dragged down India’s stock markets on Friday with benchmark indices posting their biggest single-day fall since February 2. 

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The Sensex declined 509.54 points, or 1.51 per cent, to close at 33,176. The Nifty dropped 165 points, or 1.59 per cent, to close at 10,195.15. Out of 30 Sensex stocks, 26 ended weak while four ended higher. The Volatility Index, or VIX, soared 6.2 per cent, suggesting traders expect risks to the market to remain in the near-term. 

US 10-year government bond yield is at ~2.9%, and domestic yields have also inched up. This has been on the back on inflationary expectations.

Domestic investors trimmed equity holdings ahead of March 31, when the zero-taxation regime for long-term capital gains from equities ends. 

Domestic politics is seeing some uncertain moments which is making investors nervous,” said Mahesh Patil, chief investment officer — equities, Birla Sun Life Mutual Fund. “There is also a constant supply of paper that’s taking away the liquidity and uncertainty about the public sector banks.

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Market opens lower; Sensex down by 137 pts;

Market opens lower; Sensex down by 137 pts;

Indian Indices:

Benchmark indices end lower, midcaps outperform. The market failed to hold on to any recovery on Thursday as benchmark indices extended selling pressure in late trade and fell half a percent each despite recovery in Asian peers and positive trade in Europe.   

SGX Nifty is trading at 10323 down by 40 Points. The Dow Jones industrial average rose on Thursday, but the S&P 500 and Nasdaq composite closed lower as investors assessed the possibility of a trade war. Asian markets were on firm footing on the last day of the trading week as investors digested overnight developments related to global trade and an ongoing Russia investigation. The dollar firmed and stock indexes stateside closed mixed in the last session.

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Global Market:

·       Asian markets are trading in the flat at present. Nikkei is currently down 0.25%, Hang Seng is trading 0.25% lower, while Shanghai Composite is trading up 0.28%.

·       US Markets: Stocks witnessed a volatile trading session and ended on a mixed note. Dow climbed 0.5% to 24,873.6, the Nasdaq dipped 0.2% to 7,418.7, while the S&P 500 edged 0.1% lower closing at 2,747.3.

·       European markets closed in the green yesterday with the FTSE closing 0.10% higher, CAC ended 0.64% higher, while DAX ended up 0.84%.

Major Headlines of the day:

·       JSW Steel, a part of the O.P. Jindal Group, on Wednesday said that its monthly crude steel production grew 5 per cent year­on­year 

to 1.33 billion tonnes in February 2018. “The company’s crude steel production stood at 1.26 billion tonnes in February 2017,” 

JSW Steel said in a filing to the Bombay Stock Exchange 540025 218.2

·       Ujjivan Small Finance Bank has launched 39 Unbanked Rural Centres (URCs) in the eastern states of West Bengal, Assam, Bihar, 

Jharkhand, Tripura and Orissa.

·       Corporate India announced merger and acquisition (M&A) deals worth USD 1,893 million in February this year, registering a 40 per cent increase in value terms 

over the year ago period driven by big ticket transactions.

Trend in FII flows:  The FIIs were Net Value of Rs -705.40 the cash segment Thursday  while the DIIs were Net Value of Rs 256.45 as per the provisional figures.

Securities in Ban For Trade Date 16-MAR-2018:

1.BALRAMCHIN

2.BANKINDIA

3.BEML

4.DHFL

5.TV18BRDCST

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Telecom index in green, but Idea & Airtel fall

 Telecom index in green, but Idea & Airtel fall 
From the beginning of the year we saw positive flows into emerging markets, including India. We have seen a mild reversal in India in February. We are getting into some uncharted territory. At this moment, FPIs are in a wait-and-watch mode. While they will continue to invest, it is more a question of allocation, i.e, how much they are going to invest in emerging markets.

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The BSE Telecom was trading 0.21 per cent up at 1,394 around 12:50 pm (IST) on Thursday with shares of GTL Infrastructure (up 9.75 per cent) and GTL (up 7.73 per cent) as top gainers.

However, shares of Sterlite Technologies (down 1.11 per cent), Idea CellularBSE -1.29 % (down 1.04 per cent), Bharti AirtelBSE -0.36 % (down 0.51 per cent) and Reliance CommunicationsBSE 0.21 % (down 0.42 per cent) were down around that time. 

India’s imports from the US are not significant. The real threat is from China, which is our emerging market competitor. If the Trump tariff causes any global trade war influencing the currency market, India cannot remain immune to global currency moves. But, there is no direct correlation. 

Benchmark BSE Sensex was 37 points down at 33,799, while the NSE Nifty50 index was down 16 points at 10,395. 

We are going to have a current account deficit, which is expected to be 1.5-2% for the next year with high oil prices, commodity prices and other imports. The rupee is expected to depreciate 3-3.5% per year with the widening current account deficit. 

On the other hand, shares of Tata TeleservicesBSE 4.90 % (Maharashtra) (up 4.90 per cent), Aksh Optifibre (up 4.88 per cent), ITI (up 3.10 per cent), Mahanagar Telephone NigamBSE 2.23 % (up 2.98 per cent), Tejas Networks (up 2.02 per cent).

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