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Global cues turn subdued with all eyes on Trump swearing in & Federal Reserve outlook on rates!!

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Major headlines:

·         Government to infuse Rs 1894 cr in SBI.

·         BhartiAirtel plans to raise funds via debentures bonds

·         Mahindra & Mahindra acquires 75% stake in Turkish company

INDEX PERFORMANCE

 

 

Indices

Support

Resistanes

Sensex

8389

8488

Nifty

27380

27504

 

Indian Indices: Asian indices opened weak with overnight US weakness playing out as all eyes now focus on President Trump swearing in & the rhetoric of raising rates by the Federal Reserve.US$ gave up early gains as profit booking re emerged ahead of the 20th January big event. Oil & Gold prices remained subdued while stocks sold off a bit more as investors raised cash.


Nifty continues to trade range bound above 8400 with corporate results seeing stock specific reaction even as the broader market remains in a tight range. With Nifty trading above 8400 & Bank Nifty above 19000 we could see today the highest weekly close in over 2 months which could see further 'short' covering next week with 4 days to go for January derivative expiry.


The BSE Sensex is currently trading at 27201.63, down by 106.97 points or 0.39% after trading in a range of 27176.32 and 27264.41. There were 10 stocks advancing against 20 stocks declining on the index.The broader indices were trading in red; the BSE Mid cap index was down by 0.19%, while Small cap index was down by 0.05%.The CNX Nifty is currently trading at 8407.20, down by 27.90 points or 0.33% after trading in a range of 8397.05 and 8423.65. There were 19 stocks advancing against 32 stocks declining on the index.

 

MARKET INDICATORS

·           

 

Group ATopGainers

 

 

Company

Price (Rs)

% chg

RTNPower

7.30

5.64

Havells

400.80

3.78

GPPl

140.70

3.61

Suzlon

17.67

2.97

Group ATopLosers

 

 

Axisbank

457.20

-5.48

Muthootfin

296.25

-2.81

Cyient

464.35

-2.73

IIFL

275.00

-2.59

Market Statistics

 

 

 

BSE

NSE

Advances

994

1168

Declines

1160

307

 

Technical view: Nifty now finds support around 8370 while 8440 continues to see resistance on the upside. Bank Nifty also needs to close over 19250 while 19000 will act as strong support.


Market Sentiment:

The market breadth on BSE was negative in the ratio of 994:1160, while 143 scrips remained unchanged.

 

Trading ideas :GAIL Limited (Buy above Rs 465 for target of Rs 482, SL at Rs 456.5): The stock has broken out from a classic rising channel pattern which indicates a beginning of a bullish phase for the stock. Other momentum oscillators indicate strength in the current up move. Impressive expansion in trading volumes accompanied with piercing of previous peaks further accentuates out bullish stance on the stock.

 

MacroeconomicFront: The Indian Government has said that it is now going to introduce a new Aadhaar-based digital payment system for the common man soon. Commenting on the issue, IT Minister Ravi Shankar Prasad said, “This unique payment initiative will be based on the thumb impression, verified through the Aadhaar identification for safety and security of the easier payment system for the common man.


Corporate Snippets:


Reliance Industries ltd has written down Rs 395.70 bn in value of its oil and gas assets including the flagging KG D6 block and US shale gas projects, in view of change in accounting policy.

 

Idea Cellular has filled a plea against the telecom regulator with the Telecom Disputes Settlement Appellate Tribunal and sought quashing of Reliance Jioinfocomm’s Happy New Year offer, mirroring market leader BhartiAirtel’s complaint filed late last year.

 

Havells India is looking at mid sized acquisition focusing on emerging markets even as it plans to expand its domestic presense by foraying into the personal grooming space.

 

.

Top Sectoral& Stock Screening:  The top gaining sectoral indices on the BSE were FMCG up by 0.21% and Realty up by 0.04%, while Bankex down by 0.76%, IT down by 0.61%, Oil & Gas down by 0.58%, PSU down by 0.53% and Power down by 0.50% were the losing indices on BSE.

Nifty Movers:The top gainers on Nifty were Idea Cellular up by 3.03%, BhartiAirtel up by 2.27%, Yes Bank up by 1.82%, Cipla up by 1.32% and Grasim Industries up by 1.09%.  On the flip side, Axis Bank down by 5.69%, Tata Motors - DVR down by 1.97%, ICICI Bank down by 1.85%, BhartiInfratel down by 1.47% and Power Grid down by 1.04% were the top losers.

 

 

On the global front: On the global front, Asian shares were trading mostly in red, even as China’s fourth-quarter economic growth beat expectations and Federal Reserve Chair Janet Yellen took a less hawkish policy stance. China’s economy grew a faster-than-expected 6.8 percent in the fourth quarter, boosted by higher government spending and record bank lending, giving it a solid tailwind heading into what is expected to be a turbulent 2017.

 

Global Signals: The Asian markets were trading mostly in red; Hang Seng decreased 157.25 points or 0.68% to 22,892.71, Jakarta Composite decreased 31.3 points or 0.59% to 5,267.65, KOSPI Index decreased 3.82 points or 0.18% to 2,068.97 and FTSE Bursa Malaysia KLCI decreased 1.26 points or 0.08% to 1,665.25.On the other hand, Taiwan Weighted increased 17.39 points or 0.19% to 9,335.51, Shanghai Composite increased 18.69 points or 0.6% to 3,119.99 and Nikkei 225 increased 71.44 points or 0.37% to 19,143.69.

 

Pull back rally in US$ with bond yields rising sharply as Federal Reserve indicates higher rates as economy on stronger footing!!

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Major headlines:

·         All aircrafts complaint with noise standard requirments:

·         FIMI seeks abolition of export duty on low grade iron

·         Strong domestic demand to help Indian companies

INDEX PERFORMANCE

 

 

Indices

Support

Resistanes

Sensex

8389

8488

Nifty

27380

27504

 

Indian Indices: Asian markets saw a sharp rebound led by the Japanese 'Nikkei" index as weakness in Yen saw stocks bounce back sharply. Overnight Janet Yellen talked up the bond yields by indicating rate hikes to be on the cards as growth returns. Gold prices fell after a solid 7 day rally while oil prices remained weak.


Nifty saw a sharp intraday reversal after scaling 8460 in the morning session. Profit booking closer to the 100 DMA saw most stocks give up gains despite both local & foreign investors being buyers. Volatility ahead of the January expiry due next Wednesday may rise as markets digest the huge rally this month. For today expect test of 8500 on the cards as 8400 holds as strong support on the Nifty.


The BSE Sensex is currently trading at 27276.67, up by 19.03 points or 0.07% after trading in a range of 27219.89 and 27296.86. There were 17 stocks advancing against 13 stocks declining on the index.The broader indices were trading in green; the BSE Mid cap index gained 0.26%, while Small cap index was up by 0.21%.The CNX Nifty is currently trading at 8417.90, up by 0.90 points or 0.01% after trading in a range of 8405.95 and 8427.90. There were 24 stocks advancing against 27 stocks declining on the index.

 

MARKET INDICATORS

·           

 

Group ATopGainers

 

 

Company

Price (Rs)

% chg

Hindcopper

67.50

3.69

TTKPrestig

5993.85

3.65

Vrllog

300.60

3.37

Tatacomm

691.35

2.60

Group ATopLosers

 

 

KPIT

139.75

-3.59

Deltacorp

129.20

-2.38

Balkrisind

1151.15

-2.05

CEAT ltd

1186.50

-1.90

Market Statistics

 

 

 

BSE

NSE

Advances

1308

1168

Declines

567

307

 

Technical view: Nifty finds strong resistance around 8460 which if crossed can see Nifty test 8520 in the next 2 days. Bank Nifty also has made a 'higher top, higher bottom' pattern & can extend the rally upto 19500 with 19050 being the key support.


Market Sentiment:

The market breadth indicating the overall health of the market was strong, with 1,072 shares gaining and 910 shares declining, while a total of 125 shares were unchanged.

 

Trading ideas: Sonata Software (Buy above Rs 214 for target of Rs 225, SL at Rs 208.5): The stock has shown impressive momentum in the past two days. Sonata broke out from a double bottom pattern on Monday followed by a break out above its previous all time peak of Rs 209.7. This move has been accompanied with expansion in trading volumes too. On analysing weekly chart, Sonata has also broken out from a consolidation channel pattern breakout indicating a larger move is on the card.

 

MacroeconomicFront: Small businesses in the country maintain a positive outlook for the future in terms of business confidence and employment growth, a joint report by Facebook, OECD and World Bank said as per the PTI report. Amongst the businesses surveyed, 48 per cent of the small and medium enterprises (SMEs) are positive about the current state, while 62 per cent are positive about the future.



Corporate Snippets: Reliance Industries and Russian petrochemical giant Sibur have signed an agreement to set up South Asia’s first buty rubber halogenation unit at jammnagar in Gujarat.

 

Cipla said its subsidiary GoldencrossPharma has entered into a pact to sell its entire stake in four M propack to shriji Polymers for a consideration of up to Rs 192 mn.

 

Zee Entertainment Enterprises Ltd has signed a deal for four television series with the international content distributor, Eccho Rights.

 

.

Top Sectoral& Stock Screening:  The top gaining sectoral indices on the BSE were Oil & Gas up by 1.10%, Consumer Durables up by 0.72%, PSU up by 0.34%, FMCG up by 0.31% and Capital Goods was up by 0.23%, while Metal down by 0.73%, Bankex down by 0.42%, Power down by 0.17% and IT was down by 0.01% were the few losing indices on BSE.

Nifty Movers:The top gainers on Nifty were Idea Cellular up by 2.37%, BPCL up by 1.70%, Tata Motors up by 1.58%, Tata Motors - DVR up by 1.49% and BhartiAirtel up by 1.19%. On the flip side, Hindalco down by 1.58%, Ultratech Cement down by 1.16%, Axis Bank down by 1.14%, Tata Steel down by 1.04% and Indusind Bank down by 0.84% were the top losers.

 

On the global front: On the global front, Asian markets were trading mostly in red at this point of time tailing weak overnight cues from Wall Street, though the Japanese market has bounced back with yen falling against the dollar after Janet Yellen said the American economy is strong enough to warrant higher interest rates. The US markets showed a lackluster trade and ended mixed in last session, mainly due to uncertainty about President-elect Donald Trump's policies ahead of his inauguration on Friday.

 

Global Signals:Asian markets were trading mostly in red; Hang Seng declined 136.27 points or 0.59% to 22,961.99, Taiwan Weighted shed 15.82 points or 0.17% to 9,326.15, Shanghai Composite slipped 1.81 points or 0.06% to 3,111.20, FTSE Bursa Malaysia KLCI dipped 1.26 points or 0.08% to 1,663.76 and KOSPI Index was down by 0.1 points or 0% to 2,070.44.On the flip side, Jakarta Composite rose 7.49 points or 0.14% to 5,302.27 and Nikkei 225 was up by 134.58 points or 0.71% to 19,028.95.

 

Global cues turn volatile as developed markets see strong profit booking with US$ weakness setting in!!

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Major headlines:

·         Indian equities open in green.

·         Moody’s assigns Baa 3 rating to SBI’s US dollar denominated notes

·         Gold prices rise as Brexit worries stoke safe haven demand

INDEX PERFORMANCE

 

 

Indices

Support

Resistanes

Sensex

8338

8430

Nifty

27020

27295

 

Indian Indices: Asian markets were trading mixed on opening bell with weakness in the Japanese index keeping sentiment weak as weakness in US$ hurt Japanese exporter stocks. Globally the developed markets are seeing bouts of profit booking as US$ extends its decline ahead of the Trump swearing in on the 20th January. Gold prices inched higher for the 8th straight day as defensive buying saw prices react positively.


Nifty saw strong buying emerge in morning weakness with 8374 acting as strong support. With consensus bearishness close to 7900 the Nifty bounce of over 450 points has caught most un aware & hence any decline becomes a buying opportunity. For today expect profit booking to creep into the market in the second half as 8440 which is the 100 DMA may act as strong resistance.


The BSE Sensex is currently trading at 27338.07, up by 49.90 points or 0.18% after trading in a range of 27313.10 and 27381.43. There were 18 stocks advancing against 12 stocks declining on the index. The broader indices were trading in green; the BSE Mid cap index gained 0.57%, while Small cap index was up by 0.72%. The CNX Nifty is currently trading at 8430.85, up by 18.05 points or 0.21% after trading in a range of 8414.35 and 8440.90. There were 32 stocks advancing against 19 stocks declining on the index.

MARKET INDICATORS

·           

 

Group ATopGainers

 

 

Company

Price (Rs)

% chg

Balkrisind

1213.50

11.81

Renuka

15.70

3.84

SRF

1689.55

3.66

Amtekauto

34.90

3.56

Group ATopLosers

 

 

Relaince

1048.00

-2.69

EMAMILTD

1045.50

-2.60

Fortis

187.30

-2.19

Marico

253.55

-1.74

Market Statistics

 

 

 

BSE

NSE

Advances

1308

1168

Declines

567

307

 

Technical view: Nifty now sees support @ 8300 which is the 200DMA & finds resistance @ 8440 the 200 DMA. Bank Nifty closed over the 100 DMA @ 19056 & may see another 200 points rally till 19350 while any close below 19056 can see strong bout of profit booking set in.


Market Sentiment:

The market breadth indicating the overall health of the market was strong, with 1,309 shares gaining and 567 shares declining, while a total of 89 shares were unchanged.

 

Trading ideas :REC Ltd (Buy above Rs 144 for target of Rs 151, SL at Rs 140.5): The stock has broken above its previous peak which was placed at Rs140. The price outburst is also accompanied with smart expansion in trading volumes which further accentuates our bullish stance on the stock. Other momentum oscillators are also indicating that the current momentum is here to stay.

 

MacroeconomicFront: Global credit rating agency Moody's Investors Service and its Indian affiliate ICRA Ltd have said that India will remain one of the fastest growing major economies globally in 2017 and the government will likely achieve its fiscal deficit target of 3.5 per cent of GDP for the current fiscal year ending March 31.


Corporate Snippets:

 Reliance Industries is planning to invest a sum of Rs 300 in to Reliance JIO infocomm to further its development and improve its signal strength.

 

SPML Infra Ltd has bagged new orders worth Rs 8bn for various projects including developing power substaions.

 

BHEL has commissioned another 500 MW unit of Sagardighi Thermal Power Station Phase II in West Bengal.

Top Sectoral& Stock Screening:  The top gaining sectoral indices on the BSE were Consumer Durables up by 0.80%, FMCG up by 0.62%, IT up by 0.61%, Realty up by 0.58% and Bankex was up by 0.54%, while Metal down by 0.38% and Oil & Gas was down by 0.13% were the only losing indices on BSE sectoral front.

Nifty Movers:The top gainers on Nifty were Asian Paints up by 1.36%, Hindustan Unilever up by 1.31%, Bank of Baroda up by 1.28%, Zee Entertainment up by 1.26% and Axis Bank was up by 1.16%. On the flip side, Reliance Industries down by 1.94%, Cipla down by 0.99%, ACC down by 0.86%, Adani Ports &Special down by 0.86% and Lupin was down by 0.72% were the top losers.

 

On the global front: On the global front, the Asian markets were trading mostly in green at this point of time, but gains remained capped as investors turned cautious ahead of U.K. Prime Minister Theresa May's speech on her government's Brexit plans later today. Back home, foreign portfolio investors (FPIs) sold shares worth a net Rs 347.25 crore, while Domestic institutional investors (DIIs) bought shares worth a net Rs 203.45 crore, on January 16, 2017.

 

Global Signals:Asian markets were trading mostly in green; FTSE Bursa Malaysia KLCI increased 5.41 points or 0.33% to 1,664.25, Jakarta Composite rose 5.43 points or 0.1% to 5,275.45, KOSPI Index gained 9.72 points or 0.47% to 2,073.89, Taiwan Weighted added 58.01 points or 0.62% to 9,350.34 and Hang Seng was up by 99.27 points or 0.44% to 22,817.42.On the flip side, Nikkei 225 decreased 152.43 points or 0.8% to 18,942.81 and Shanghai Composite was down by 15.52 points or 0.5% to 3,087.91.

 

Global markets head for consolidation as trepidation over recent rally & UK Pound weakness see profit booking

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Major headlines:

·         Moody’s reaffirms yes bank’s rating at Baa 3/ P-3

·         Oil prices edge up on weaker dollar expected crude output cuts

·         Government may increase FDI limit to 49% in print media sector

INDEX PERFORMANCE

 

 

Indices

Support

Resistanes

Sensex

8338

8430

Nifty

27020

27295

 


Indian Indices: Asian markets opened weak after the UK pound tumbled sharply & hurt sentiment as the UK Prime Minister indicated a 'hard brexit' coming soon. That coupled with the recent rally in equities globally saw profit booking emerge strongly as investors sold stock & raised cash. Gold prices rallied while US bond yields fell along with the US$.


Nifty seems to hit resistance around the 100 DMA placed @ 8441 with profit booking emerging after the stellar rally of last 2 weeks. With expiry due next week expect consolidation this week with 8350-8450 being the range. For today expect profit booking in metals, auto & commodities while banks, financials & materials could head higher.


The BSE Sensex is currently trading at 27275.98, up by 37.92 points or 0.14% after trading in a range of 27172.68 and 27301.38. There were 16 stocks advancing against 14 stocks declining on the index. The broader indices were trading in green; the BSE Mid cap index was up by 0.35%, while Small cap index was up by 0.50%.

The CNX Nifty is currently trading at 8403.90, up by 3.55 points or 0.04% after trading in a range of 8374.40 and 8414.95. There were 30 stocks advancing against 21 stocks declining on the index.


MARKET INDICATORS

·           

 

Group ATopGainers

 

 

Company

Price (Rs)

% chg

DEN

86.70

7.37

DLF

130.20

4.90

HDIL

65.20

4.24

Hindzinc

286.65

3.48

Group ATopLosers

 

 

DBcorp

361.565

-3.97

Network 18

35.95

-2.18

ICRA

3960

-2.15

Cox & Kings

622.45

-1.91

Market Statistics

 

 

 

BSE

NSE

Advances

920

1168

Declines

1230

307

 

Technical view: Nifty finds strong support around 8320 while 8441 continues to act as strong resistance. Bank Nifty has been the steady outperformer with 18441 acting as strong support while 19058 which is the 100 DMA will act as strong resistance.


Market Sentiment:

The market breadth on BSE was negative in the ratio of 920:1230, while 129 scrips remained unchanged.

 

Trading ideas: ITC (Buy above Rs 251 for target of Rs 246.5, SL at Rs 260): The stock has showing tremendous strength in the past week. ITC has also recovered sharply after finding support around its 100-DMA. If the stock manages to close above Rs251 then we expect a rising wedge pattern breakout which would take the stock higher towards the Rs258-260 mark in short term.

 

MacroeconomicFront: The Indian Government has said that it is considering a proposal to increase foreign direct investment (FDI) limit in print media sector to 49 per cent from 26 per cent at present. Currently, the FDI policy permits 26 per cent foreign direct investment in the publishing of newspapers and periodicals dealing with news and current affairs through government approval route.

Corporate Snippets:Lupin has launched its generic version of morphine sulfate ER tablets used for the management of servere pain in the US market.

 

HERO MOTOCORP forayed into the Argetinian market with the global launch of its 125 CC bike new Glamour as part its aggressive global expansion plans.

 

Tata Steelhas offered to pay hundreds of millions of pounds to its pension scheme to release a guarantee the fund holds over its Dutch assets, as the Indian firm moves closer to merging its European assets with Germany's ThyssenKrupp.

Top Sectoral& Stock Screening:  The top gaining sectoral indices on the BSE were Realty up by 2.25%, Consumer Durables up by 1.30%, Metal up by 1.13%, Bankex up by 0.35% and Capital Goods up by 0.32%, while IT down by 0.75%, TECK down by 0.47%, Oil & Gas down by 0.09% and FMCG down by 0.07% were the losing indices on BSE.

Nifty Movers: The top gainers on Nifty were Adani Ports & Special Economic Zone up by 2.26%, Tata Steel up by 2.23%, Idea Cellular up by 1.53%, Zee Entertainment up by 1.39% and Tata Motors up by 1.20%.  On the flip side, HCL Tech down by 1.83%, Eicher Motors down by 1.67%, Infosys down by 1.64%, Tech Mahindra down by 0.86% and Sun Pharma down by 0.84% were the top losers.

 

 

On the global front: On the global front, Asian shares were trading mostly in red, on worries UK Prime Minister Theresa May might signal plans for a ‘hard Brexit’ in her speech on Tuesday. The Bank of Japan raised its economic assessment for three of the country’s nine regions in a quarterly report, saying that most areas were seeing a moderate economic recovery.

 

Global Signals: The Asian markets were trading mostly in red; Hang Seng decreased 242.75 points or 1.06% to 22,694.63, Nikkei 225 decreased 154.01 points or 0.8% to 19,133.27, Taiwan Weighted decreased 84.65 points or 0.9% to 9,294.18, Shanghai Composite decreased 43.83 points or 1.41% to 3,068.93, KOSPI Index decreased 14.71 points or 0.71% to 2,062.08 and FTSE Bursa Malaysia KLCI decreased 5.72 points or 0.34% to 1,666.78.On the other hand, Jakarta Composite increased 4.47 points or 0.08% to 5,277.45.

 

Nifty ends above 8400, Sensex up over 100 pts:

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Major headlines

·         India rubber prices jump to 2-1/2 year high:Tyre makers fall

·         8 NBFCs surrender their certificate of registration to RBI

·         India, US ink agreement on cyber security cooperation

INDEX PERFORMANCE

 

 

Index

Close

% Chg

Sensex

27,247.16

0.39

Nifty

8,407.20

0.32

Indian Indices: Indian benchmark indices continued to trade in tight band with a gain of over quarter a percent in late afternoon session, led by IT stocks on hopes that U.S. President-elect Donald Trump may not proceed with stringent visa rules. Sentiments remained upbeat with Finance Minister ArunJaitley’s statement that the implementation of the Goods and Services Tax (GST), coupled with a digitised economy ushered in by demonetisation, will make India’s economy look much cleaner and bigger. On sectoral front, pharma sector stocks came under pressure with U.S. President Trump’s statement that the pharmaceutical companies are getting away with murder in what they charge the government for medicines, and promised that would change in his first presser.

On the global front, European markets were trading in red as U.S. President-elect Donald Trump's first press conference since winning the election proved to be a dampener for investors looking for clues on his tax and international trade policies. Asian markets were trading mostly in green.

The BSE Sensex is currently shut up at 27247.16, up by 106.75 points or 0.39% after trading in a range of 27166.69 and 27278.93. There were 16 stocks advancing against 14 stocks declining on the index.The broader indices were trading mixed; the BSE Mid cap index was up by 0.05%, while Small cap index was down by 0.14%.

The CNX Nifty is currently closed at 8407.20, up by 26.55 points or 0.32% after trading in a range of 8382.30 and 8417.20. There were 23 stocks advancing against 28 stocks declining on the index.

MARKET INDICATORS

·           

 

Top Movers (Group A)

 

 

Company

Cmp

% chg

Gainers

 

 

NHPC

29.90

9.12

NLINDIA

91.50

8.93

SJVN

32.30

7.49

AIAENG

1401.00

6.67

Losers

 

 

OIL

348.15

-3.81

Jubilant

679.30

-3.80

IDEA

72.20

-3.22

PVR

1183.35

-3.04

Market Statistics

 

 

 

BSE

NSE

Advances

1397

648

Declines

1190

811

 

Market Sentiment:

The market breadth on BSE was positive in the ratio of 1397: 1190, while 159 scrips remained unchanged.

Crporate Front:

Eight NBFCs have surrendered the certificate of registration granted to them by the Reserve Bank of India. The Reserve Bank of India, in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their Certificate of Registration.

Macroeconomic front:

The Ministry of Labour and Employment has extended the deadline by three months for companies and other commercial establishments to get registered with the Employees Provident Fund Organisation, reported PTI.

 

On the global front:

On the global front, European markets were trading in red as market participants waiting for clues on U.S. President-elect Donald Trump's tax policies and spending plans in the first news conference since winning office, to be held later today. Asian markets were trading mostly in green. Back home, in scrip specific development, IPCA Laboratories edged higher on the buzz of completing redemption of 2 formulation plants and SpiceJet gained after company clocked the highest industry OTP (On-time performance) at Delhi airport for December 2016.


Commodity Updates:

Commodity Prices (MCX):

Commodity

Rs

% Chang

Gold

28480.00

0.64

Silver

41232.00

0.55

Crude oil

3580.00

-0.25

Natural Gas

226.40

1.48

Alluminium

121.20

1.38

Copper

398.95

1.45

Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were Power up by 3.08%, IT up by 1.45%, Capital Goods up by 1.38%, TECK up by 1.13% and PSU up by 1.08%, while FMCG down by 0.73%, Auto down by 0.34%, Metal down by 0.17% and Consumer Durables down by 0.02% were the top losing indices on BSE.

Top Nifty Movers:The top gainers on Nifty were NTPC up by 5.35%, Power Grid up by 4.16%, Tata Power up by 3.12%, Larsen & Toubro up by 2.66% and Infosys up by 2.21%. On the flip side, Idea Cellular down by 3.55%, Lupin down by 1.88%, AurobindoPharma down by 1.82%, Dr. Reddys Lab down by 1.54% and Coal India down by 1.53% were the top losers.

 

Global Signals:

Asian markets were trading mostly in green; FTSE Bursa Malaysia KLCI increased 4.27 points or 0.25% to 1,679.48, Jakarta Composite increased 6.62 points or 0.12% to 5,307.85, KOSPI Index increased 11.97 points or 0.58% to 2,087.14, Taiwan Weighted increased 16.82 points or 0.18% to 9,392.68 and Nikkei 225 increased 230.9 points or 1.23% to 18,996.37. On the flip side, Hang Seng decreased 106.33 points or 0.46% to 22,829.02 and Shanghai Composite decreased 17.46 points or 0.56% to 3,119.29.

All European markets were trading in red; Germany’s DAX decreased 70.13 points or 0.6% to 11,576.04, France’s CAC decreased 29.64 points or 0.61% to 4,859.07 and UK’s FTSE 100 decreased 23.96 points or 0.33% to 7,266.53.

 

 

President Trump speech ignites equities even as US$ sees selling with Oil rising sharply

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Major headlines:

·         Government hopeful of achieving disinvestment target

·         Demonestisation to have positive impact next fiscal

·         Key Indian equity indices open higher

INDEX PERFORMANCE

 

 

Indices

Support

Resistanes

Sensex

8338

8430

Nifty

27020

27295

 

Asian markets traded in the green ex Japan where the 'Nikkei' index was down almost 1% after the yen rallied against the US$. OIl prices saw a sharp pullback with the greenback seeing selling while bond yields also traded flat. President Trump sounded cautious on Pharma& biotech & vowed to bring back jobs to the US which should be ominous warning to global Pharma& IT outsourcing. 


Nifty crossed the 200 DMA in style with 8400 being within reach today. Banks lead the from the front with the Bank Nifty gaining almost 2.25%.Metals were the other big outperformer with the Metal index up over 4%.For today expect consolidation around 8400 on the Nifty while mid caps should see more action & participation.


The BSE Sensex is currently trading at 27239.03, up by 98.62 points or 0.36% after trading in a range of 27166.69 and 27278.93. There were 16 stocks advancing against 14 stocks declining on the index. The broader indices were trading in green; the BSE Mid cap index was up by 0.01%, while Small cap index was up by 0.02%. The CNX Nifty is currently trading at 8404.15, up by 23.50 points or 0.28% after trading in a range of 8382.30 and 8417.20. There were 24 stocks advancing against 27 stocks declining on the index.

 

MARKET INDICATORS

·           

 

Group ATopGainers

 

 

Company

Price (Rs)

% chg

Power grid

198.50

4.61

MMTC

72.50

4.54

Godrejprop

336.00

3.72

Cyient

510.00

3.64

Group ATopLosers

 

 

OIL

346.30

-4.32

Jubilant

684.00

-3.14

IDEA

72.75

-2.48

SRTRANSFI

942.00

-2.56

Market Statistics

 

 

 

BSE

NSE

Advances

1052

1168

Declines

1152

307

 

Technical view: Nifty will now find support around 8289 which is the 200DMA while resistance now comes @ 8446 which is the 100 DMA. Bank Nifty now finds support @ 18258 which isn the 200 DMA while the 100 DMA @ 19068 will act as resistance.


Market Sentiment:

The market breadth on BSE was negative in the ratio of 1052:1152, while 116 scrips remained unchanged.

 

Trading ideas IBREALEST (Buy above Rs 82.5 for target of Rs 86.5, SL at Rs 80.5): Stock has given a flag breakout on daily charts, after consolidating for the past 4 trading sessions between Rs 78.5 and Rs 81.5. The momentum seen in yesterday's trade along with stock sustaining above its 200-DMA would augur well in near term. On daily chart, stock looks a perfect price volume breakout candidate. We advise to Buy IBREALEST above Rs 82.5, stop loss at Rs 80.5 and Target of Rs 86.5.

 

MacroeconomicFront: According to sources, the first-ever policy to set the tone for water management in the Indian Railways is likely to be finalised by the end of this month. Commenting on the issue, Additional Member, Mechanical, K Swaminathan told the media, "We are rolling out a water policy by the end of this month which will set the tone for water management in the Indian Railways."


Corporate Snippets:

Lupin has received final approval from the US health regulator to market its Desoximetasone cream, used for treatment of skin disease, in the American market.

 

MRF Ltd said it will invest around Rs 45 bn in a phased manner over a period of ten years to set up a manufacturing unit in Gujarat.

 

Royal Orchid Hotels has acquired Amartara Hospitality by buying additional 24.9% stake in it.

 

NTPC’s board has approved an investment of Rs 10.53 bnDulanga coal mining project with rated production of 7 mtpa.

Top Sectoral& Stock Screening:  The top gaining sectoral indices on the BSE were Power up by 2.09%, IT up by 1.20%, Capital Goods up by 0.98%, PSU up by 0.98% and TECK up by 0.94%, while Metal down by 0.83%, FMCG down by 0.33%, Realty down by 0.18% and Consumer Durables down by 0.06% were the losing indices on BSE.

Nifty Movers:The top gainers on Nifty were Power Grid up by 4.74%, NTPC up by 2.71%, Infosys up by 2.23%, Tata Power up by 2.21% and Tech Mahindra up by 1.96%.  On the flip side, Idea Cellular down by 2.08%, Coal India down by 1.56%, AurobindoPharma down by 1.50%, IndusInd Bank down by 1.44% and BHEL down by 1.20% were the top losers.

 

 

 

On the global front:On the global front, Asian shares were trading mostly in green, with investors eyeing the first full press conference by President-elect Donald Trump since the November election. Trump has vowed to label China a currency manipulator on his first day in office and has threatened to slap huge tariffs on imports from China. Hong Kong shares extended their recent rally into a fifth successive day as investors brushed off another loss on Wall Street.

 

Global Signals:The Asian markets were trading mostly in green; FTSE Bursa Malaysia KLCI increased 3.52 points or 0.21% to 1,678.73, KOSPI Index increased 3.64 points or 0.18% to 2,078.81, Shanghai Composite increased 3.77 points or 0.12% to 3,140.52, Jakarta Composite increased 11.71 points or 0.22% to 5,312.95 and Taiwan Weighted increased 69.03 points or 0.74% to 9,414.77.On the other hand, Nikkei 225 decreased 188.43 points or 0.97% to 19,176.24 and Hang Seng decreased 90.05 points or 0.39% to 22,845.30.

 

Nifty ends at 8289, Sensex jumps 173 pts: auto rally

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Major headlines

·         India’s December domestic passenger vehicle sales down 1.36%

·         India’s fuel demand rose 4.3 percent Y/Y in December

·         Reforms, Policy effectiveness to decide India rating

 

Indian Indices: Indian equity indices maintained the upbeat mood in late afternoon session and extended their gains on the back of healthy buying in Metal, Oil & Gas and Consumer Durables stocks. Sentiments got support with Moody’s report which maintained positive outlook on India and said beyond the short-term negative impact on growth, demonetisation has the potential to raise government revenues and provide some fiscal space to support growth if required. Positive opening in European market too aided the sentiments. European markets were trading in green despite concerns over the Italian banking system and the implementation of an OPEC deal. Back home, buying in Tata Motors and Tata Steel too supported the markets uptrend. Tata Motors was trading higher after the company’s arm reported 12% rise in December retail sales. Tata steel was trading in green after company reported 27% jump in Q3FY17 sales to 2.9 MT.

The BSE Sensex is currently trading at 26885.20, up by 158.65 points or 0.59% after trading in a range of 26804.17 and 26914.95. There were 24 stocks advancing against 6 stocks declining on the index.The broader indices were trading in green; the BSE Mid cap index was up by 0.35%, while Small cap index was up by 0.59%.

The CNX Nifty is currently closed at 8236.05, up by -7.75 points or 0.09% after trading in a range of 8227.75 and 8263.00. There were 27 stocks advancing against 24 stocks declining on the index.

 

 

Market Sentiment:

The market breadth on BSE was positive in the ratio of 1397: 1190, while 159 scrips remained unchanged.

Crporate Front:

Government’s capacity to implement reforms and policy effectiveness will decide India’s rating going forward, Moody’s Investors Service said. The US-based agency said that ongoing implementation of reforms is likely to boost India’s medium-term growth.

Macroeconomic front:

Ministries of environment and textiles will soon meet to find long-term as well as short-term solutions to the challenges being faced by domestic handicrafts exporters, said the media report.  A meeting to resolve the issues of Indian handicrafts exporters will soon be convened, Textiles Minister SmritiIrani has said.

 

On the global front:

On the global front, European markets were trading mostly in red, as investors remained on sidelines ahead of fresh data from the euro zone and volatility in oil markets. Asian markets were trading mostly in red. Back home, value buying in Realty, Auto and FMCG stocks also supported the markets.


 

Commodity Updates:

Commodity Prices (MCX):

Commodity

Rs

% Chang

Gold

28062.00

0.04

Silver

40630.00

-0.14

Crude oil

3567.00

-0.2

Natural Gas

215.50

1.32

Alluminium

118.45

0.85

Copper

387.25

1.12

Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were Metal up by 0.96%, Oil & Gas up by 0.94%, Consumer Durables up by 0.88%, Auto up by 0.78% and FMCG up by 0.69% , while Realty down by 0.42% was the sole losing index on BSE.

Top Nifty Movers:The top gainers on Nifty were Hindalco up by 3.77%, Adani Ports &Special up by 3.00%, Tata Motors up by 2.58%, Asian Paints up by 1.82% and Tata Motors - DVR up by 1.68%. On the flip side, Axis Bank down by 1.12%, Grasim Industries down by 1.06%, Ambuja Cement down by 0.66%, HDFC down by 0.65% and Indusind Bank down by 0.63% were the top losers.

 

Global Signals:

Asian markets were trading mostly in red; Nikkei 225 decreased 152.89 points or 0.79% to 19,301.44, Jakarta Composite decreased 12.35 points or 0.23% to 5,304.02, Shanghai Composite decreased 9.56 points or 0.3% to 3,161.67, KOSPI Index decreased 3.66 points or 0.18% to 2,045.12 and FTSE Bursa Malaysia KLCI decreased 0.46 points or 0.03% to 1,667.44. On the flip side, Taiwan Weighted increased 7.22 points or 0.08% to 9,349.64 and Hang Seng increased 186.16 points or 0.83% to 22,744.85.

All European markets were trading in green; France’s CAC increased 8.73 points or 0.18% to 4,896.30, UK’s FTSE 100 increased 13.63 points or 0.19% to 7,251.40 and Germany’s DAX increased 26.98 points or 0.23% to 11,590.97.

 

 

Markets react to Brexit concerns as US$ regains strength with bond yields falling while gold rises & oil falls

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Major headlines:

·         DoT to meet telcos to discuss call drops:

·         Value buying lifts bourses

·         Full and fitting reply will be given, say sources close to Mistry

INDEX PERFORMANCE

 

 

Indices

Support

Resistanes

Sensex

26454

26725

Nifty

8138

8215

 

Indian Indices:

Asian indices opened flat with further consolidation as US stocks lost ground on fresh brexit worries over UK's trading role with Europe. This saw safe haven buying in US$, gold & bonds while oil prices dropped sharply. With 20000 being the near term target on the Dow Jones profit booking around these pivot levels could see some more consolidation before the Trump swearing in later this month.

Nifty had a very quiet session with only a 40 point intraday move on low volumes. IT stocks rebounded on value buying while Pharma stocks continued to under perform the market with fresh selling seeing stocks lose ground. For today expect energy, financials & industrials to attract buying while Metals & FMCG could see profit booking.


The BSE Sensex is currently trading at 26854.11, up by 127.56 points or 0.48% after trading in a range of 26804.17 and 26902.05. There were 22 stocks advancing against 8 stocks declining on the index.The broader indices were trading in green; the BSE Mid cap index was up by 0.48%, while Small cap index was up by 0.62%.The CNX Nifty is currently trading at 8271.95, up by 35.90 points or 0.44% after trading in a range of 8261.00 and 8288.10. There were 34 stocks advancing against 17 stocks declining on the index.

MARKET INDICATORS

·           

 

Group ATopGainers

 

 

Company

Price (Rs)

% chg

Punjlloyd

21.30

5.97

MRPL

113.40

5.15

Renuka

16.04

5.04

BEL

1522.45

4.69

Group ATopLosers

 

 

MMTC

68.50

-2.70

Petronet

363.75

-2.64

Justdial

381.05

-1.77

Unitech

4.54

-1.73

Market Statistics

 

 

 

BSE

NSE

Advances

1131

1168

Declines

1047

307

 

Technical view: Nifty is seeing strong resistance around 8280 while 8180 acts as support, break either side will see further direction. Bank Nifty needs to cross 18300 for further upmove while 18230 which is the 200 DMA will act as strong support.


Market Sentiment:

The market breadth on BSE was positive in the ratio of 1354:828, while 98 scrips remained unchanged.

 

Trading ideas :PHILIPCARB (Buy above Rs 243 for Target of Rs 253, SL at Rs 238): Stock has witnessed a breakout from a base building pattern closing above the crucial resistance zone of Rs 236 and Rs 238. This coincided with a close above the important 50 and 100-DMA. It’s an ideal price volume breakout, with volumes higher than the past 12 trading sessions. We advise to Buy PHILIPCARB above Rs 243, stop loss at Rs 238 and Target of Rs 253.

 

MacroeconomicFront: Global brokerage Citigroup has said that it has lowered India's growth forecast to 6.8 per cent for this fiscal from 7.2 per cent earlier, as cash crunch has affected pick-up in consumption while uncertainty around demonetisation may further delay any recovery in private investments.


Corporate Snippets:Jaiprakash Power Ventures has sought its shareholders not through postal and electronic ballot, to convert part of its outstanding debt of Rs 30.58 bn into 3.06 bn equity shares.

 

Divis Lab has filed a detailed response with in the permitted time to the observations made by the US health regulator after inspection of the drug firm’s manufacturing plant at Visakhapatnam in Andhra Pradesh.

 

Oil and Natural Gas Corporation is close to finalizing ways to complete its USD 800 mn projects stuck midway after the contractor, Singapore’s Swiber Holding Ltd, collapsed last year following an oil slump.

Top Sectoral& Stock Screening:  The top gaining sectoral indices on the BSE were Oil & Gas up by 1.56%, Metal up by 1.19%, PSU up by 0.90%, Auto up by 0.80% and Consumer Durables up by 0.55%, while there were no losers.

Nifty Movers:The top gainers on Nifty were Hindalco up by 4.05%, BPCL up by 3.01%, Tata Motors up by 2.47%, Tata Motors - DVR up by 1.98% and GAIL India up by 1.77%.  On the flip side, Axis Bank down by 0.86%, Ambuja Cement down by 0.76%, ACC down by 0.70%, IndusInd Bank down by 0.63% and Tech Mahindra down by 0.63% were the top losers.

 

 

 

On the global frontOn the global front, Asian shares were trading mostly in red, as investor sentiment soured after the Dow retreated further from the 20,000 mark and oil prices plunged as much as 4 percent overnight. Investors are awaiting remarks from key US policymakers this week, including Fed Chair Janet Yellen and President-elect Donald Trump.

Global Signals:The Asian markets were trading mostly in red; Nikkei 225 decreased 132.97 points or 0.68% to 19,321.36, Jakarta Composite decreased 13.59 points or 0.26% to 5,302.78, KOSPI Index decreased 6.08 points or 0.3% to 2,042.70, Shanghai Composite decreased 0.64 points or 0.02% to 3,170.60 and Taiwan Weighted decreased 0.41 points or 0% to 9,342.01.On the other hand, FTSE Bursa Malaysia KLCI increased 2.44 points or 0.15% to 1,670.34 and Hang Seng increased 138.33 points or 0.61% to 22,697.02.

 

Sensex lower, Nifty ends at 8236; ONGC top losers

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Major headlines

·         India counts on Japan for ecofriendly cars logistics:

·         RBI imposes Rs 3 cr penalty on Lakshmi Vilas Bank

·         Cisco unveils initiatives to digitally empower girls in Rajasthan

INDEX PERFORMANCE

 

 

Index

Close

% Chg

Sensex

26,26.55

-0.12

Nifty

8,236.05

-0.09

Indian Indices: Indian equity benchmarks continued to trade choppy in late afternoon session, as the quarterly reporting season kicked in, with investors concerned that the government's move to ban high-value notes would hit corporate earnings. Sentiments remained dampened with domestic rating agency, ICRA’s report that the advance estimate of 7.1 per cent GDP released by Central Statistical Organisation (CSO), will have major errors as it does not include the data for the months after demonetization. The agency pegged the expected growth for 2016-17 lower at 6.8 per cent. However, some support came with the Finance Minister ArunJaitley’s statement that the currency squeeze in November and December failed to hit revenue mop up, with direct and indirect tax collection from April to December showing a double-digit increase. For the period April - December 2016, Direct Tax and Indirect tax collection have shown a growth of 12.01% and 25% respectively over the corresponding period last year.

The BSE Sensex is currently shut down at 26726.55, down by -32.68 points or 0.12% after trading in a range of 26701.18 and 26860.88. There were 15 stocks advancing against 15 stocks declining on the index.The broader indices were trading in green; the BSE Mid cap index was up by 0.29%, while Small cap index was up by 0.50%.

The CNX Nifty is currently closed at 8236.05, up by -7.75 points or 0.09% after trading in a range of 8227.75 and 8263.00. There were 27 stocks advancing against 24 stocks declining on the index.

MARKET INDICATORS

·           

 

Top Movers (Group A)

 

 

Company

Cmp

% chg

Gainers

 

 

BEML

1157.75

16.55

MMTC

70.40

13.09

BIOCON

1013.00

5.74

STAR

1159.80

5.61

Losers

 

 

Cadila

361.20

-4.77

DRREDDY

3066.00

-3.00

ONGC

198.05

-2.17

Amarraja

903.30

-2.67

Market Statistics

 

 

 

BSE

NSE

Advances

1397

648

Declines

1190

811

 

Market Sentiment:

The market breadth on BSE was positive in the ratio of 1397: 1190, while 159 scrips remained unchanged.

Crporate Front:

Regrob, a real estate brokerage company in India, has started a new-initiative where they have turned their employees into leaders by making them CEO for a day. The idea behind the initiative is to create new business leaders from the existing team and motivating them to reach new heights. Regrob aims to tap into the strategic and entrepreneurial ideas of its team members.

Macroeconomic front:

Moody's Investors Service and its Indian affiliate, ICRA, have forecasted that they see subdued prospects for India's banks, with both identifying asset deterioration as a key challenge over the medium term. "Asset quality will remain a negative driver of the credit profiles of most rated Indian banks and the stock of impaired loans.

 

On the global front:

On the global front, European markets were trading mostly in red, as investors remained on sidelines ahead of fresh data from the euro zone and volatility in oil markets. Asian markets were trading mostly in red. Back home, value buying in Realty, Auto and FMCG stocks also supported the markets.


Commodity Updates:

Commodity Prices (MCX):

Commodity

Rs

% Chang

Gold

27905.00

0.06

Silver

40352.00

0.02

Crude oil

3625.00

-1.55

Natural Gas

221.10

-1.43

Alluminium

116.65

0.0

Copper

383.15

-0.1

Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were Realty up by 0.97%, Auto up by 0.40%, FMCG up by 0.37%, Bankex up by 0.33% and IT up by 0.26%, while Power down by 0.74%, Oil & Gas down by 0.60%, PSU down by 0.29%, Consumer Durables down by 0.20% and Metal down by 0.06% were the top losing indices on BSE.

Top Nifty Movers:The top gainers on Nifty were Tech Mahindra up by 1.28%, Eicher Motors up by 1.24%, Bajaj Auto up by 1.19%, HCL Tech. up by 1.18% and Indusind Bank up by 1.16%. On the flip side, Dr. Reddys Lab down by 3.02%, Coal India down by 1.86%, Asian Paints down by 1.76%, ONGC down by 1.73% and BPCL down by 1.50% were the top losers.

 

Global Signals:

Asian markets were trading mostly in red; Jakarta Composite decreased 32.53 points or 0.61% to 5,314.50, Taiwan Weighted decreased 29.8 points or 0.32% to 9,342.42, FTSE Bursa Malaysia KLCI decreased 5.43 points or 0.32% to 1,670.06 and KOSPI Index decreased 0.34 points or 0.02% to 2,048.78. On the flip side, Shanghai Composite increased 16.92 points or 0.54% to 3,171.24 and Hang Seng increased 55.68 points or 0.25% to 22,558.69.

European markets were trading mostly in red; Germany’s DAX decreased 24.15 points or 0.21% to 11,574.86 and France’s CAC decreased 11.69 points or 0.24% to 4,898.15. On the flip side, UK’s FTSE 100 increased 17.86 points or 0.25% to 7,227.91.

 

 

Global indices in consolidation as Chinese Yuan sees huge volatility with US$ seeing profit booking on every rally

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Major headlines:

·         Asset deterioration a challenge for Indian banks.

·         Money has lost secrecy post demonetization

·         Key Indian equity indices open in green

INDEX PERFORMANCE

 

 

Indices

Support

Resistanes

Sensex

26454

26725

Nifty

8138

8215

 

Indian IndicesAsian markets opened flat to positive as US$ volatility versus Chinese yuan saw currency moves dominate recent market behaviour. The US$ is witnessing profit booking at every rally while the Chinese yuan had a very strong rally from oversold levels. The Dow Jones also hit 19999.63 as positive jobs report saw the US$ strengthen with equities jumping.


Nifty failed to cross the 200 DMA @ first attempt & late hour profit booking saw Nifty retreat to close below 8250. Bank Nifty however saw huge short covering & closed above its 200 DMA on value buying. For today expect another day of consolidation even as bulls make another attempt to cross 8280-8300 for Nifty to resume further uptrend. Weakness in IT stocks was the main culprit for Nifty under performance which saw banks being the best performing sector in rotation.


The BSE Sensex is currently trading at 26737.88, down by 21.35 points or 0.08% after trading in a range of 26720.09 and 26860.88. There were 12 stocks advancing against 18 stocks declining on the index.The broader indices were trading in green; the BSE Mid cap index was up by 0.24%, while Small cap index was up by 0.43%.The CNX Nifty is currently trading at 8237.15, down by 6.65 points or 0.08% after trading in a range of 8233.45 and 8263.00. There were 23 stocks advancing against 28 stocks declining on the index.

 

MARKET INDICATORS

·           

 

Group ATopGainers

 

 

Company

Price (Rs)

% chg

BEML

1135.15

14.7

MMTC

68.30

9.72

Fortis

203.10

5.62

KPIT

140.70

4.45

Group ATopLosers

 

 

Cadila

367.55

-3.10

DRreddy

3072.05

-2.80

HCC

40.90

-1.68

PIIND

827.10

-1.50

Market Statistics

 

 

 

BSE

NSE

Advances

1131

1168

Declines

1047

307

 

Technical view: Nifty will find support around 8181 which was the low for last 3 days while 8280 will act as first resistance. Bank Nifty now finds strong support @ 18000 while 18350 will act as resistance.


Market Sentiment:

The market breadth on BSE was positive in the ratio of 1354:828, while 98 scrips remained unchanged.

 

Trading ideas :YESBANK (Buy above Rs 1250 for target of Rs 1300, SL at Rs 1224): Stock has witnessed a double bottom breakout on daily charts post the two days smart rally. Near term trend turned positive for the stock on close above both its 50 and 100 DMA in last weeks trade. Price volume breakout would lead to sustained momentum for the stock in coming sessions. We advise to Buy YESBANK above Rs 1250, stop loss at Rs 1224 and Target of Rs 1300.

 

MacroeconomicFront: Finance Minister ArunJaitley has said that the colour of funds has not changed by merely depositing them in banks as the money has now lost its 'anonymity' and can be identified with the owner. Commenting on the issue, Finance Minister ArunJaitley told the media, "When 86 per cent of a country's currency, constituting 12.2 per cent of its GDP, is squeezed out of the market and sought to be replaced by a new currency.

Corporate Snippets:SpiceJet is expected to order at least 92 Boeing Co 737 jetliners, as it looks to bolster its presence in the world's fastest growing aerospace market.

 

SBIwill take the lead among state-run lenders to launch branch less banking. The latest launch from the lender - SBI Digi Bank will have a financial superstore, a market place and end to end digitisation for all products and services. 

 

Pokarna Ltd has announced Pokarna Engineered Stone Ltd, its wholly-owned subsidiary, has partnered Swedish home furnishing products retailer IKEA in India, to serve as its exclusive quartz surfaces supplier and installation partner.

Top Sectoral& Stock Screening:  The top gaining sectoral indices on the BSE were FMCG up by 0.65%, Realty up by 0.33%, Capital Goods up by 0.22%, Bankex up by 0.21% and Metal up by 0.14%, while Oil & Gas down by 0.52%, Power down by 0.45%, Consumer Durables down by 0.35%, PSU down by 0.19% and Auto down by 0.17% were the losing indices on BSE.

Nifty Movers:The top gainers on Nifty were AurobindoPharma up by 1.65%, HCL Tech up by 1.56%, Eicher Motors up by 1.51%, Idea Cellular up by 1.51% and ITC up by 1.17%. On the flip side, Dr. Reddy’s Lab down by 2.22%, BPCL down by 1.56%, Mahindra & Mahindra down by 1.37%, Coal India down by 1.31% and ACC down by 1.26% were the top losers.

 

 

 

On the global front: On the global front, Asian shares were trading mixed, as investors focused on policymaker remarks later this week for direction. Chinese Vice Finance Minister Zhu Guangyao said that the country is confident to have reached an economic growth of 6.7 percent in 2016, within a targeted range set earlier in the year. China, which had been aiming for a 6.5-7 percent economic growth for 2016, boosted government spending, saw a housing rally and record high levels of bank lending last year.

 

Global Signals:The Asian markets were trading mixed; KOSPI Index increased 3.22 points or 0.16% to 2,052.34, Shanghai Composite increased 14.96 points or 0.47% to 3,169.28 and Hang Seng increased 39.55 points or 0.18% to 22,542.56. On the other hand, Taiwan Weighted decreased 34.71 points or 0.37% to 9,337.51, Jakarta Composite decreased 22.68 points or 0.42% to 5,324.34 and FTSE Bursa Malaysia KLCI decreased 4.36 points or 0.26% to 1,671.13.

 

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