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Nifty, Sensex rally; IT stocks drag market

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Major headlines

·         Government not to revise coal production target

·         Synergise efforts to boost exports: Nirmala to states

·         After banknote ban, India sees 7 percent growth in first half of 2017.

INDEX PERFORMANCE

 

 

Index

Close

% Chg

Sensex

26,878.24

0.92

Nifty

8,273.80

1.02

Indian Indices: Indian benchmark indices continued to trade in green in late afternoon session as positive global cues, appreciation in the rupee and firm crude oil prices lifted investors' sentiments. The key indices traded with gains of around a per cent each, as healthy buying was witnessed in Metal, Oil & Gas and Auto stocks. Traders took some encouragement with Finance Minister ArunJaitley’s statement that government will exceed its budget estimate of Rs 16.3 lakh crore for both direct and indirect tax collections this year. In the Budget for 2016-17 fiscal, Jaitley had put gross tax revenue estimate at Rs 16.3 lakh crore, about 11 percent higher than gross tax receipts of Rs 14.5 lakh crore for the previous fiscal. The RBI report said that the listed non-government non-financial (NGNF) companies’ aggregate sales growth (Year-on-Year) increased by 1.9 per cent in Quarter two of 2016-17, after near stagnation seen in the first quarter of the current financial year. However, raw material expenses increased in the current quarter in line with the general pause in falling global commodity prices. This resulted in a deceleration of operating profit growth at the aggregate level.

The BSE Sensex is shut up today at 26878.24, up by 245.11 points or 0.92% after trading in a range of 26738.42 and 26896.82. There were 26 stocks advancing against 4 stocks declining on the index.The broader indices were trading in green; the BSE Mid cap index was up by 1.14%, while Small cap index was up by 0.95%.

The CNX Nifty is currently closed at 8273.80, up by 83.30 points or 1.02% after trading in a range of 8223.70 and 8273.60. There were 44 stocks advancing against 7 stocks declining on the index.

MARKET INDICATORS

·           

 

Top Movers (Group A)

 

 

Company

Cmp

% chg

Gainers

 

 

Justdial

393.40

14.63

JPassociat

10.56

8.09

JSWSteel

175.50

7.67

Unitech

4.79

7.64

Losers

 

 

Cholafin

926.00

-3.72

TECHm

488.00

-2.34

Fortis

185.20

-2.22

Shriramcit

1815.00

-2.86

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:

Commerce and Industry Minister NirmalaSitharaman underlined the need for synergising efforts between Centre and states to boost the country's exports on sustainable basis, reported PTI.

Macroeconomic front:

The Road Ministry has said that it has requested the Finance Ministry to allocate Rs 90,904 crore to help complete ongoing highway projects in time and compensate for the toll revenue losses following demonetisation.

 

On the global front:

On the global front, European markets were trading in red after minutes from the last U.S. Federal meeting showed a willingness to increase rates at a faster pace. Asian markets were mixed, with stocks in Hong Kong gaining, while Japanese shares pulled back. Back home, in scrip specific development Som Distilleries was trading jubilantly on plan to start brewery production in Karnataka by June-July and Steel Authority of India (SAIL) jumped higher after the company reported a 16% sales growth during the April-December 2016 period over the corresponding period last year.

Commodity Updates:

Commodity Prices (MCX):

Commodity

Rs

% Chang

Gold

27829.00

0.53

Silver

40443.00

0.44

Crude oil

3618.00

-0.08

Natural Gas

223.10

0.9

Alluminium

115.25

0.26

Copper

385.30

0.33

 

Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were Metal up by 3.18%, Oil & Gas up by 1.70%, Auto up by 1.64%, PSU up by 1.51% and Bankex up by 1.50%, while IT down by 0.32% and TECK down by 0.14% were the few losing indices on BSE.

Top Nifty Movers:The top gainers on Nifty were Yes Bank up by 4.69%, Adani Ports &Special up by 4.18%, Tata Steel up by 3.92%, Tata Motors - DVR up by 3.27% and Bosch up by 3.22%. On the flip side, TCS down by 1.32%, BhartiInfratel down by 1.28%, HCL Tech. down by 0.87%, Tech Mahindra down by 0.86% and Infosys down by 0.30% were the top losers.

 

Global Signals:

Asian markets were trading mostly in green; Shanghai Composite increased 6.62 points or 0.21% to 3,165.41, FTSE Bursa Malaysia KLCI increased 11.38 points or 0.69% to 1,658.85, Jakarta Composite increased 16.71 points or 0.32% to 5,317.89, Taiwan Weighted increased 71.18 points or 0.77% to 9,358.14 and Hang Seng increased 322.22 points or 1.46% to 22,456.69. On the flip side, Nikkei 225 decreased 73.47 points or 0.37% to 19,520.69 and KOSPI Index decreased 3.69 points or 0.18% to 2,041.95.

All European markets were trading in red; Germany’s DAX decreased 31.9 points or 0.28% to 11,552.41, France’s CAC decreased 23.57 points or 0.48% to 4,875.83 and UK’s FTSE 100 decreased 0.31 points or 0% to 7,189.43.

 

 

Escorts Ltd Agri Machinery Segment (EAM) in December 2016 sold 3,187 tractors growth of 15.8 percent against 2,751 tractors in December 2015

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 Domestic tractor sales for the month of December 2016 up by 11.6 percent at 3,043 tractors against 2,727 tractors in December 2015. Export for the month of December 2016 up by 500 percent at 144 tractors against 24 tractors in December 2015.

 

Month and YTD Sales figure are as follows:

 

Particulars

December

YTD

FY17

FY16

% Change

FY17

FY16

% Change

Domestic

   3,043

   2,727

11.6%

   48,074

   39,092

23.0%

Export

      144

         24

500.0%

         734

         540

35.9%

Total

   3,187

   2,751

15.8%

   48,808

   39,632

23.2%

Developed markets see profit booking with value buying emerging in emerging markets as year end sets in

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Major headlines:

·         GE Power zooms on wining contract worth Rs 271 cr from BHEL

·         Key Indian equity indices trade higher in early trade

·         China to relax curbs on foreign investment in banking securities state planner

INDEX PERFORMANCE

 

 

Indices

Support

Resistance

Sensex

26212

26475

Nifty

8045

8135

 

Indian IndicesMost Asian indices opened flat with the Japanese 'Nikkei" trading in the red for another day aping the decline in US indices. Year end profit booking & subsequent value buying is the order of the past few days & may continue for next few days. Fall in bond yields, weakness in US$ are prompting buying in most emerging markets with Brazil & India seeing relative gains.

   

Nifty managed to close above 8100 with derivative expiry seeing huge short covering in the last hour. With pessimism overdone around 7900 expect Nifty to see another 100 points gain before profit booking reemerges. For today expect window dressing in select sector/stocks as NAV(net asset value) boosting could see metals, banks & select infra stocks gain ground.


The BSE Sensex is currently trading at 26576.94, up by 210.79 points or 0.80% after trading in a range of 26406.53 and 26587.66. There were 25 stocks advancing against 5 stocks declining on the index.The broader indices were trading in green; the BSE Mid cap index was up by 1.20%, while Small cap index was up by 1.02%.

The CNX Nifty is currently trading at 8162.80, up by 59.20 points or 0.73% after trading in a range of 8114.75 and 8168.95. There were 42 stocks advancing against 9 stocks declining on the index..

 

MARKET INDICATORS

·           

 

Group ATopGainers

 

 

Company

Price (Rs)

% chg

Renuka

14.02

7.10

Arvind

351.80

5.25

HDIL

58.50

4.74

PVR

1167.45

4.00

Group ATopLosers

 

 

Enginersin

152.95

-8.58

Finolexind

436.50

-2.44

IDFC

54.25

-2.08

IFCI

27.50

-1.79

Market Statistics

 

 

 

BSE

NSE

Advances

999

1247

Declines

1021

226

 

Technical view: Nifty now finds strong support @ 8020 with 8180 being the next resistance on the upside. Bank Nifty also finds strong support @ 17829 while resistance will now come @ 18143 which was the previous support.


 

Market Sentiment:

The market breadth on BSE was positive in the ratio of 1625:453, while 101 scrips remained unchanged.

 

Trading ideas: TECHM (Buy above Rs 484.5 for target of Rs 506, SL at Rs 474): Stock in yesterday's trade broke out of a pennant formation after consolidating for a month. Prior trend being positive, the continuation pattern augurs well for the stock to move up. The stock also successfully closed above its important 200-DMA of Rs 476.5. RSI crossover is another positive trigger for the stock. We advise to Buy TechM above Rs 484.5, stop loss at Rs 474 and Target of Rs 506.

 

MacroeconomicFront: A RBI report has said that curbing of speculative activities in the realty sector after the establishment of a regulator is expected to adversely impact the housing finance companies. Commenting on the issue, a RBI Official told the media, "The push to regulate the realty sector is likely to have an impact on housing finance segments as it may help curb speculative activities significantly."

 

Corporate Snippets: Tata Steel Special Economic Zone LTd has sought more time from the Goverenment for setting up a multi product SEZ in Odisha

 

Lupinhas received tentative approval from the US health regulator to market its Balasalazide Disodium tablets used for the treatment of ulcerative colitis in the American market.

 

Reliance Industries Ltd has announced the success ful commissioning of the first phase of the paraxylene plant at its janagar petrochemicals complex in Gujarat with capacity of 2.2 mntpa.

Top Sectoral & Stock Screening: The top gaining sectoral indices on the BSE were FMCG up by 1.40%, Power up by 1.12%, Realty up by 1.08%, Capital Goods up by 1.03% and Bankex up by 0.95%, while there were no losing indices.

Nifty Movers: The top gainers on Nifty were AurobindoPharma up by 2.52%, BHEL up by 2.15%, ICICI Bank up by 1.81%, Tata Power up by 1.80% and Grasim Industries up by 1.77%.  On the flip side, BPCL down by 0.95%, BhartiAirtel down by 0.61%, BhartiInfratel down by 0.47%, Tata Motors down by 0.37% and Coal India down by 0.23% were the top losers.

 

 

 

 

On the global front: On the global front, Asian shares were trading mostly in green, while profit-taking weighed on the dollar and the euro held near a two-week high after spiking early in the day. China’s stock exchange was trading in green taking cues from a survey by the People’s Bank of China which showed that business confidence among entrepreneurs in China rose for the third straight quarter in October-December.

 

Global Signals: The Asian markets were trading mostly in green; Shanghai Composite increased 3.03 points or 0.1% to 3,099.13, Nikkei 225 increased 6.03 points or 0.03% to 19,151.17, Jakarta Composite increased 27.77 points or 0.52% to 5,330.34, Taiwan Weighted increased 94.79 points or 1.04% to 9,247.88 and Hang Seng increased 255.43 points or 1.17% to 22,046.34.On the other hand, FTSE Bursa Malaysia KLCI decreased 2.02 points or 0.12% to 1,635.91. South Korea Stock Exchange was closed on account of ‘New Year’s Eve’ holiday.

 

Global markets see year end blues as holiday season sees low volumes & range bound indices

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Major headlines:

·         Oil steady in quiet holiday season trade, supply cut deal to kick in jan 1.

·         Gold edges higher in thin trade after holiday weekend

·         Asia stocks mixed in muted session dollar recovers some losses.

INDEX PERFORMANCE

 

 

Indices

Support

Resistanes

Sensex

25705

25959

Nifty

7878

7955

 

Indian Indices:Asian indices were trading flat to mildly positive as volumes drop in the holiday season with year end blues taking over. The trade of long developed markets & short emerging markets has played out well in the last 2 months with both the Japanese 'Nikkei' & the US Dow Jones now in sight of hitting 20000.    

Nifty saw bears out in force to drive the index to the lowest since the 'brexit low' of 24th June.With expiry on Thursday& foreign flows muted expect a strong pullback from grossly oversold territory which could see the Nifty test 8100 this week. For today expect negative rhetoric on taxes to dominate opening, however domestic flows should add colour with buying in banks, metals & IT stocks.

The BSE Sensex is currently trading at 25868.74, up by 61.64 points or 0.24% after trading in a range of 25803.19 and 25898.35. There were 19 stocks advancing against 11 stocks declining on the index. The broader indices were trading mixed; the BSE Mid cap index gained 0.05%, while Small cap index was down by 0.01%.The CNX Nifty is currently trading at 7,923.50, up by 15.25 points or 0.19% after trading in a range of 7,903.70 and 7935.60. There were 31 stocks advancing against 20 stocks declining on the index.

MARKET INDICATORS

·           

 

Group ATopGainers

 

 

Company

Price (Rs)

% chg

Welcorp

76.60

4.79

IDFC

52.50

4.06

Aloktext

3.36

4.02

Ramcocem

526.00

3.87

Group ATopLosers

 

 

IBrealest

67.40

-3.09

CEATLTD

1101.95

-2.90

TVSMotor

357.80

-2.3

Naukri

872.00

-1.74

Market Statistics

 

 

 

BSE

NSE

Advances

999

1018

Declines

1021

419

 

Technical view: Nifty to find support around 7850 with 8050 now acting as a strong top. Bank Nifty also now finds support around 17500 while 17850 will act as a resistance which was earlier a support.

 

Market Sentiment:

The market breadth on BSE was negative in the ratio of 468:1585, while 99 scrips remained unchanged.

 

Trading ideas :VEDL Dec Fut (Sell below Rs 208.5 for Target of Rs 202.5, SL at Rs 211.5): Stock on the daily charts have broken down from upward sloping trendline connecting higher lows. Last two trading session also witnessed VEDL sustaining below the 50-DMA resulting in higher increased selling pressure. The selling in this stock coincides with Nifty Metal index too giving a fresh breakdown. We advise to SELL VEDL Dec Fut below Rs 208.5, stop loss at Rs 211.5, and Target of Rs 202.5.

 

MacroeconomicFront:As per RBI data, India Inc raised USD 488.49 million via External Commercial Borrowings (ECBs) and Rupee Denominated Bonds (RDBs) in November 2016. As per reports, the Indian companies had raised USD 3.16 billion from foreign sources in the same month a year ago. However, the data is not comparable as borrowings through RDBs were included only this year.

Corporate Snippets:Jet Airways announced the deployment of higher seating capacity aircraft on two domestic and an equal number of international routes from early next year amid growing passenger demand.

 

Lupin has received tentative approval from the US health regular to sell Olmesartanmedoximil tablets, used for treating high blood pressure, in the American market.

 

NTPC LTdhas commissioned the Unit-1 of 800 MW of kudgi Super Thermal Power project on December 25.

 

L&T Construction,the construction arm of L&T has won orders worth RS 30.39 bn across its various business segments.

Top Sectoral& Stock Screening:  The top gaining sectoral indices on the BSE were Consumer Durables up by 0.74%, Oil & Gas up by 0.64%, IT up by 0.44%, TECK up by 0.32% and PSU was up by 0.10%, while Realty down by 1.80%, Metal down by 0.28%, Power down by 0.16%, Capital Goods was down by 0.03% and Auto down by 0.02% were the top losing indices on BSE.

Nifty Movers:The top gainers on Nifty were Cipla up by 1.96%, AurobindoPharma up by 1.26%, Sun Pharma up by 1.25%, Tata Motors - DVR up by 1.23% and Lupin was up by 1.13%. On the flip side, Hindalco down by 1.39%, Grasim Industries down by 1.14%, BhartiAirtel down by 1.01%, GAIL India down by 0.96% and Idea Cellular was down by 0.94% were the top losers.

 

 

 

On the global front:On the global front, Asian stocks were trading flat, in thin trade and with little to guide them as most major markets were closed on Monday for Christmas holidays, while the dollar reclaimed some of its losses from Monday. Back home, traders eying the meeting of Prime Minister NarendraModi with economists and senior government officials at NITI Aayog.

 

Global Signals:Asian markets were exhibiting mixed trend; Hang Seng decreased 61.44 points or 0.28% to 21,574.76, Taiwan Weighted slipped 4.39 points or 0.05% to 9,106.15 and FTSE Bursa Malaysia KLCI was down by 0.24 points or 0.01% to 1,616.91. On the flip side, KOSPI Index increased 4.2 points or 0.21% to 2,041.95 and Jakarta Composite was up by 45.94 points or 0.91% to 5,073.64.

 

Global markets see year end blues as holiday season sees low volumes & range bound indices

http://sharetipsinfo.comJust get registered at Sharetipsinfo and earn positive returns

www.ShareTipsInfo.com

Major headlines:

·         Oil steady in quiet holiday season trade, supply cut deal to kick in jan 1.

·         Gold edges higher in thin trade after holiday weekend

·         Asia stocks mixed in muted session dollar recovers some losses.

INDEX PERFORMANCE

 

 

Indices

Support

Resistanes

Sensex

25705

25959

Nifty

7878

7955

 

Indian Indices:Asian indices were trading flat to mildly positive as volumes drop in the holiday season with year end blues taking over. The trade of long developed markets & short emerging markets has played out well in the last 2 months with both the Japanese 'Nikkei' & the US Dow Jones now in sight of hitting 20000.    

Nifty saw bears out in force to drive the index to the lowest since the 'brexit low' of 24th June.With expiry on Thursday& foreign flows muted expect a strong pullback from grossly oversold territory which could see the Nifty test 8100 this week. For today expect negative rhetoric on taxes to dominate opening, however domestic flows should add colour with buying in banks, metals & IT stocks.

The BSE Sensex is currently trading at 25868.74, up by 61.64 points or 0.24% after trading in a range of 25803.19 and 25898.35. There were 19 stocks advancing against 11 stocks declining on the index. The broader indices were trading mixed; the BSE Mid cap index gained 0.05%, while Small cap index was down by 0.01%.The CNX Nifty is currently trading at 7,923.50, up by 15.25 points or 0.19% after trading in a range of 7,903.70 and 7935.60. There were 31 stocks advancing against 20 stocks declining on the index.

MARKET INDICATORS

·           

 

Group ATopGainers

 

 

Company

Price (Rs)

% chg

Welcorp

76.60

4.79

IDFC

52.50

4.06

Aloktext

3.36

4.02

Ramcocem

526.00

3.87

Group ATopLosers

 

 

IBrealest

67.40

-3.09

CEATLTD

1101.95

-2.90

TVSMotor

357.80

-2.3

Naukri

872.00

-1.74

Market Statistics

 

 

 

BSE

NSE

Advances

999

1018

Declines

1021

419

 

Technical view: Nifty to find support around 7850 with 8050 now acting as a strong top. Bank Nifty also now finds support around 17500 while 17850 will act as a resistance which was earlier a support.

 

Market Sentiment:

The market breadth on BSE was negative in the ratio of 468:1585, while 99 scrips remained unchanged.

 

Trading ideas :VEDL Dec Fut (Sell below Rs 208.5 for Target of Rs 202.5, SL at Rs 211.5): Stock on the daily charts have broken down from upward sloping trendline connecting higher lows. Last two trading session also witnessed VEDL sustaining below the 50-DMA resulting in higher increased selling pressure. The selling in this stock coincides with Nifty Metal index too giving a fresh breakdown. We advise to SELL VEDL Dec Fut below Rs 208.5, stop loss at Rs 211.5, and Target of Rs 202.5.

 

MacroeconomicFront:As per RBI data, India Inc raised USD 488.49 million via External Commercial Borrowings (ECBs) and Rupee Denominated Bonds (RDBs) in November 2016. As per reports, the Indian companies had raised USD 3.16 billion from foreign sources in the same month a year ago. However, the data is not comparable as borrowings through RDBs were included only this year.

Corporate Snippets:Jet Airways announced the deployment of higher seating capacity aircraft on two domestic and an equal number of international routes from early next year amid growing passenger demand.

 

Lupin has received tentative approval from the US health regular to sell Olmesartanmedoximil tablets, used for treating high blood pressure, in the American market.

 

NTPC LTdhas commissioned the Unit-1 of 800 MW of kudgi Super Thermal Power project on December 25.

 

L&T Construction,the construction arm of L&T has won orders worth RS 30.39 bn across its various business segments.

Top Sectoral& Stock Screening:  The top gaining sectoral indices on the BSE were Consumer Durables up by 0.74%, Oil & Gas up by 0.64%, IT up by 0.44%, TECK up by 0.32% and PSU was up by 0.10%, while Realty down by 1.80%, Metal down by 0.28%, Power down by 0.16%, Capital Goods was down by 0.03% and Auto down by 0.02% were the top losing indices on BSE.

Nifty Movers:The top gainers on Nifty were Cipla up by 1.96%, AurobindoPharma up by 1.26%, Sun Pharma up by 1.25%, Tata Motors - DVR up by 1.23% and Lupin was up by 1.13%. On the flip side, Hindalco down by 1.39%, Grasim Industries down by 1.14%, BhartiAirtel down by 1.01%, GAIL India down by 0.96% and Idea Cellular was down by 0.94% were the top losers.

 

 

 

On the global front:On the global front, Asian stocks were trading flat, in thin trade and with little to guide them as most major markets were closed on Monday for Christmas holidays, while the dollar reclaimed some of its losses from Monday. Back home, traders eying the meeting of Prime Minister NarendraModi with economists and senior government officials at NITI Aayog.

 

Global Signals:Asian markets were exhibiting mixed trend; Hang Seng decreased 61.44 points or 0.28% to 21,574.76, Taiwan Weighted slipped 4.39 points or 0.05% to 9,106.15 and FTSE Bursa Malaysia KLCI was down by 0.24 points or 0.01% to 1,616.91. On the flip side, KOSPI Index increased 4.2 points or 0.21% to 2,041.95 and Jakarta Composite was up by 45.94 points or 0.91% to 5,073.64.

 

Global markets see year end blues as holiday season sees low volumes & range bound indices

http://sharetipsinfo.comJust get registered at Sharetipsinfo and earn positive returns

www.ShareTipsInfo.com

Major headlines:

·         Oil steady in quiet holiday season trade, supply cut deal to kick in jan 1.

·         Gold edges higher in thin trade after holiday weekend

·         Asia stocks mixed in muted session dollar recovers some losses.

INDEX PERFORMANCE

 

 

Indices

Support

Resistanes

Sensex

25705

25959

Nifty

7878

7955

 

Indian Indices:Asian indices were trading flat to mildly positive as volumes drop in the holiday season with year end blues taking over. The trade of long developed markets & short emerging markets has played out well in the last 2 months with both the Japanese 'Nikkei' & the US Dow Jones now in sight of hitting 20000.    

Nifty saw bears out in force to drive the index to the lowest since the 'brexit low' of 24th June.With expiry on Thursday& foreign flows muted expect a strong pullback from grossly oversold territory which could see the Nifty test 8100 this week. For today expect negative rhetoric on taxes to dominate opening, however domestic flows should add colour with buying in banks, metals & IT stocks.

The BSE Sensex is currently trading at 25868.74, up by 61.64 points or 0.24% after trading in a range of 25803.19 and 25898.35. There were 19 stocks advancing against 11 stocks declining on the index. The broader indices were trading mixed; the BSE Mid cap index gained 0.05%, while Small cap index was down by 0.01%.The CNX Nifty is currently trading at 7,923.50, up by 15.25 points or 0.19% after trading in a range of 7,903.70 and 7935.60. There were 31 stocks advancing against 20 stocks declining on the index.

MARKET INDICATORS

·           

 

Group ATopGainers

 

 

Company

Price (Rs)

% chg

Welcorp

76.60

4.79

IDFC

52.50

4.06

Aloktext

3.36

4.02

Ramcocem

526.00

3.87

Group ATopLosers

 

 

IBrealest

67.40

-3.09

CEATLTD

1101.95

-2.90

TVSMotor

357.80

-2.3

Naukri

872.00

-1.74

Market Statistics

 

 

 

BSE

NSE

Advances

999

1018

Declines

1021

419

 

Technical view: Nifty to find support around 7850 with 8050 now acting as a strong top. Bank Nifty also now finds support around 17500 while 17850 will act as a resistance which was earlier a support.

 

Market Sentiment:

The market breadth on BSE was negative in the ratio of 468:1585, while 99 scrips remained unchanged.

 

Trading ideas :VEDL Dec Fut (Sell below Rs 208.5 for Target of Rs 202.5, SL at Rs 211.5): Stock on the daily charts have broken down from upward sloping trendline connecting higher lows. Last two trading session also witnessed VEDL sustaining below the 50-DMA resulting in higher increased selling pressure. The selling in this stock coincides with Nifty Metal index too giving a fresh breakdown. We advise to SELL VEDL Dec Fut below Rs 208.5, stop loss at Rs 211.5, and Target of Rs 202.5.

 

MacroeconomicFront:As per RBI data, India Inc raised USD 488.49 million via External Commercial Borrowings (ECBs) and Rupee Denominated Bonds (RDBs) in November 2016. As per reports, the Indian companies had raised USD 3.16 billion from foreign sources in the same month a year ago. However, the data is not comparable as borrowings through RDBs were included only this year.

Corporate Snippets:Jet Airways announced the deployment of higher seating capacity aircraft on two domestic and an equal number of international routes from early next year amid growing passenger demand.

 

Lupin has received tentative approval from the US health regular to sell Olmesartanmedoximil tablets, used for treating high blood pressure, in the American market.

 

NTPC LTdhas commissioned the Unit-1 of 800 MW of kudgi Super Thermal Power project on December 25.

 

L&T Construction,the construction arm of L&T has won orders worth RS 30.39 bn across its various business segments.

Top Sectoral& Stock Screening:  The top gaining sectoral indices on the BSE were Consumer Durables up by 0.74%, Oil & Gas up by 0.64%, IT up by 0.44%, TECK up by 0.32% and PSU was up by 0.10%, while Realty down by 1.80%, Metal down by 0.28%, Power down by 0.16%, Capital Goods was down by 0.03% and Auto down by 0.02% were the top losing indices on BSE.

Nifty Movers:The top gainers on Nifty were Cipla up by 1.96%, AurobindoPharma up by 1.26%, Sun Pharma up by 1.25%, Tata Motors - DVR up by 1.23% and Lupin was up by 1.13%. On the flip side, Hindalco down by 1.39%, Grasim Industries down by 1.14%, BhartiAirtel down by 1.01%, GAIL India down by 0.96% and Idea Cellular was down by 0.94% were the top losers.

 

 

 

On the global front:On the global front, Asian stocks were trading flat, in thin trade and with little to guide them as most major markets were closed on Monday for Christmas holidays, while the dollar reclaimed some of its losses from Monday. Back home, traders eying the meeting of Prime Minister NarendraModi with economists and senior government officials at NITI Aayog.

 

Global Signals:Asian markets were exhibiting mixed trend; Hang Seng decreased 61.44 points or 0.28% to 21,574.76, Taiwan Weighted slipped 4.39 points or 0.05% to 9,106.15 and FTSE Bursa Malaysia KLCI was down by 0.24 points or 0.01% to 1,616.91. On the flip side, KOSPI Index increased 4.2 points or 0.21% to 2,041.95 and Jakarta Composite was up by 45.94 points or 0.91% to 5,073.64.

 

WEEKLY NIFTY TRADING VIEW FOR THE WEEK DEC26, 2016–DEC31, 2016

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Events to watch this week

  • US Q3 annual economic growth rate revised up
  • Italian government rescues Monte deiPaschi
  • Scotland threatens to leave UK
  • BOJ upgrades assessment, leaves policy unchanged

The Week ahead:

  • Japan releases consumer price and unemployment data on Monday, 26 December
  • Japan reports retail sales data on Wednesday, 28 December
  • US November pending home sales figures are released on Wednesday, 28 December

For the week,Global equities dipped modestly this week while US indices barely budged. The venerable Dow Jones Industrial Average approached the psychologically significant 20,000 mark before pausing. US Treasury yields were down slightly on the week, falling to 2.53% from 2.58% a week ago. West Texas Intermediate crude lost about 75 cents on the week, ending around $52.50, while the Chicago Board Options Exchange Volatility Index (VIX) remains historically low, at 11.60.

NIFTY- 7,985.75
CRUDE OIL-Rs 3,595barrel
GOLD-Rs 27,002/10 gram
Rs/$-Rs 67.83

MARKET ROUND UP

Trading for the week ended on a positive note as key benchmark indices snapped a seven-day losing streak and settled with small gains after what was a volatile session of trade. The barometer index, the SandP BSE Sensex, gained 61.10 points or 0.24% to settle at 26,040.70. The Nifty 50 index rose 6.65 points or 0.08% at 7,985.75. The gains for the Nifty were lower than the Sensex's gains in percentage terms. After a subdued start to the session tracking weak Asian cues, indices reversed losses in early afternoon trade and consolidated further in the green in mid-afternoon trade. However, they pared gains in late trade, with the movement restricting within a narrow range throughout the session.

The Sensex gained 61.10 points or 0.24% to settle at 26,040.70, its highest closing level since 21 December 2016. The index rose 163.59 points or 0.62% at the day's high of 26,143.19. It lost 107.22 points or 0.41% at the day's low of 25,872.38, its lowest level since 24 November 2016.

The Nifty 50 index rose 6.65 points or 0.08% to settle at 7,985.75, its highest closing level since 21 December 2016. The index rose 43.50 points or 0.54% at the day's high of 8,022.60. It fell 37.05 points or 0.46% at the day's low of 7,942.05, its lowest level since 21 November 2016.

The BSE Mid-Cap index fell 0.4% and the BSE Small-Cap index dropped 0.04%. Both these indices underperformed the Sensex.

Macro Economic Front:

On the Economic Front,Prime Minister NarendraModi on Saturday gave the green signal to a slew of infrastructure projects in Mumbai and Pune, besides inaugurating the new campus of SEBI's National Institute of Securities Markets (NISM) during his daylong visit to Maharashtra.

Modi was received by Governor C.V. Rao, Chief Minister DevendraFadnavis and other dignitaries on his arrival around noon by an IAF aircraft at the ChhatrapatiShivajiMaharaj International Airport here.

Major Action &Announcement:

Sun Pharmaceutical Industries rallied 2.6% after the company has informed BSE that one of the wholly owned subsidiaries of the company has acquired 13,000,000 Series B Preferred Stock of scPharmaceuticals Inc. (equivalent to 14.58% fully diluted equity stake on conversion) by way of allotment.

Wipro dipped 1%. The company announced that it has reached an agreement with the U.S. Securities and Exchange Commission (SEC) to formally  resolve the previously disclosed six-year-old investigation.

Reliance Defence and Engineering Ltd rose 3.6% to Rs 55 after huge block deal. Around 12.3 million shares or 1.7% stake of the company changed hands in a single block deal. 

Welspun Enterprises plunged 4%. Welspun Enterprises a part of $2.3 billion Welspun Group, on Thursday announced plans to buy back up to 25% of its share capital at a price of Rs 62 per equity share.

Deepak Nitrite tanked 3.7% to Rs 85.80 after huge block deal. Around 3 million shares of the company changed hands in two block deal

JK Paper rose 2%.  JK Paper Ltd has now informed BSE that the Company has decided at its meeting of Committee of Directors held on December 22, 2016, to sell 20 per cent shareholding of OJPPL to OHC, one of the joint venture parties.

Suzlon Energy rose 0.29% after the company announced a joint venture with AMP Solar for the development and construction of a 15 MW solar PV project located at Achampet, Mahaboobnagar District, Telangana.

Tata Motors dropped 1.6%. The sentiments that prevailed at the Tata Motors extraordinary general meeting mirrored the EGMs at the storied group's other companies, with a majority of shareholders speaking in favour of Tata Sons' interim chairman Ratan Tata.

Global Front:

In Overseas Markets,European stocks were mixed with banks rising after two regional bellwethers settled US mortgage securities probes. Deutsche Bank's $7.2 billion settlement with the US Department of Justice over toxic mortgage securities sold in the run-up to the 2008 financial crisis was nearly half of the fine initially levied in September. Credit Suisse also agreed to pay $5.3 billion to the DOJ to settle similar charges

In another boost to European financials, the Italian government approved a decree today, 23 December 2016, to bail out Monte deiPaschi di Siena after the world's oldest bank failed to win investor backing for a desperately needed capital increase. Prime Minister Paolo Gentiloni said his Cabinet had authorised a 20 billion-euro ($20.9 billion) fund to help lenders in distress - first and foremost Monte deiPaschi.

Global Economic News:

US, UK growth revised higher
Already strong US gross domestic product figures were revised higher in the final reading for the third quarter. Originally reported at an annual rate of 3.3%, the economy grew 3.5%, according to an estimate by the US Bureau of Economic Analysis. Q4 growth looks to be somewhat less robust, with estimates in the 2.0% to 2.5% range at the moment. In the United Kingdom, Q3 growth was also revised higher. On a quarter-over-quarter basis, the UK economy expanded 0.6% in the three months following the Brexit vote, up from an earlier 0.5% estimate.

Italy rescues world’s oldest bank
Italy’s government has authorized €20 billion bailout of that country’s third-largest lender, Monte deiPaschi di Siena, after the bank failed to raise sufficient capital in the financial markets to stay afloat. Monte deiPaschi has been in operation since 1742.

Scotland threatens to bolt UK
If the United Kingdom does not remain a member of the European Union’s single market, Scotland will hold another referendum on withdrawing from it, Scottish first
minister Nicola Sturgeon said this week. Scotland voted to remain within in the EU in last June’s referendum, as did Northern Ireland, but England and Wales produced large enough majorities to win the day for the Leave campaign. In 2014, Scotland held a referendum on independence that was defeated 55% to 45%.

BOJ upgrades economic outlook
The Bank of Japan upgraded its economic assessment, noting that a moderate recovery trend had continued while exports had picked up. Improved foreign demand was credited with the export boost, along with a weaker yen, which should help solidify the recovery, the bank said. The BOJ’s super-easy monetary policy was left unchanged.

Pair of European banks settle US mortgage cases
Deutsche Bank and Credit Suisse each agreed to settle outstanding cases with the US Department of Justice involving the mis-selling of mortgage-backed securities dating back to the global financial crisis. Deutsche Bank settled for $7.2 billion, roughly half what the DOJ proposed in September. Credit Suisse agreed to pay roughly $5.3 billion. UK-based Barclays was unable to come to an agreement, and the DOJ has since filed suit in the matter.

GLOBAL CORPORATE NEWS

Praxair and Linde agree to merge
After a two-year courtship, industrial gas giants Praxair and Linde have agreed to merge their operations. The combined value of the deal is $66.6 billion.

NEW 52-WEEK HIGH BSE (A):

 

ENGINERSIN

324.25

NEW 52-WEEK LOWS BSE (A):

APOLLOHOSP

1133.00

BFUTILITIE

386.15

BLUEDART

4301.55

MAJOR WEEKLY GAINERS IN BSE A CATEGORY:

EDELWEISS FIN

17.79

CHOLAMANDALAM

12.85

ALOK INDS

12.14

MAJOR WEEKLY LOSERS IN BSE A CATEGORY:

DIVI’S LAB

-24.87

BHARAT FIN

-18.87

PIRAMAL ENT

-13.06


Eyes will be set on the certain US economic data releases are:

Monday (26 Dec)
US Holiday, Market Closed
Tuesday(27 Dec)
Consumer Confidence

Wednesday(28 Dec)
Pending Home Sales Index
Thursday(29 Dec)
Jobless Claims
Friday(30 Dec)
Chicago PMI

Fundamental Pick of the week:

Sell REC Ltd For Target Rs. 120.00

The stock is making lower tops after forming a double top pattern at 140 resisting to cross the short term averages.The key technical indicators and RSI has also reversed turning downwards and as the stock is in poised for a breakdown from current levels.

The stock has closed below its short term averages confirming the downtrend and the recent swing high will continue to act as strong resistance for the stock.

Recommendation

Short position can be initiated at Rs129-130 for target of Rs120 with a stop loss of Rs 134.

Indian Market Outlook:

Even as Nifty closed at 8000 levels this week, the Index tested levels of 7950 which is just 30 points shy of the previous month low of 7921. The benchmark Index remained weak in the last five trading sessions with FII's turning out as net sellers in the market. Nifty dropped almost 200 points from 8148 to 7953 in the course of the week's trading session.

This week the IT index was up by 2.26% expectation of growth backed by PM Mr. NarendraModi’s digital India stance post the demonetization.

TECHNICAL VIEW:

 

S3

S2

S1

NIFTY

R1

R2

R3

7,860

7,902

7,944

7,985.75

8,030

8,105

8,190

 

NIFTY OUTLOOK

Nifty index traded with negative bias for most part of the week and finally concluded with cut of over 1.5%.

Technically, charts are still pointing toward further fall wherein 7900 spot is the immediate support. Also, we have derivatives expiry for the Dec month scheduled in the coming week and it’ll largely guide the market ahead , in absence of any major event.

Conclusion:

Nifty made low of 7942 but failed to close above 8000,Till we do not see closed above 8000 Bears have upper hand and high probability we can break swing low of 7916. Range of 7880-7900 is again the important zone, break of the range on downside move towards 7800/7700. Holding the same move towards 8130/8250.

 

Global markets stall as oil,US$ halt after sharp rally with US equities set to hit 20000 as macro data improves

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Major headlines:

·         Key Indian equity indices trade lower

·         China expresses disappointment at EU favouring continued limits on Chinese solar panels

·         Gold steady but on track for seventh straight weekly loss

INDEX PERFORMANCE

 

 

Indices

Support

Resistanes

Sensex

25860

26171

Nifty

7945

8025

 

Indian Indices:Asian indices opened in the red with week end blues seeing caution ahead of the holiday shortened next week. US indices drifted lower as the 20000 mark still seems within reach even as US GDP growth recorded strong growth coming @ 3.5%.The year end blues saw profit booking in oil & US$ as the rally seems to be getting overstretched.  

Nifty gave up gains for the year as the last 7 days have seen the slow grind downwards gather momentum with 7916 being the last ray of hopes for the bulls. Bears have taken advantage of weak sentiment coupled with year end foreign selling & have seen the index turn negative for the year 2016.For today expect an attempt @ 7916 which was the 21st November low to be tested & defended as markets in extremely oversold territory & ripe for a sharp pullback.

The BSE Sensex is currently trading at 25904.77, down by 74.83 points or 0.29% after trading in a range of 25872.38 and 26007.16. 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 0.57%, while Small cap index was down by 0.38%. The CNX Nifty is currently trading at 7951.00, down by 28.10 points or 0.35% after trading in a range of 7942.05 and 7985.45. There were 18 stocks advancing against 33 stocks declining on the index.

 

MARKET INDICATORS

·           

 

Group ATopGainers

 

 

Company

Price (Rs)

% chg

Balramchin

121.50

4.70

Renuka

13.73

4.02

RDEL

55.20

3.86

Bajajfinace

794.70

3.72

Group ATopLosers

 

 

Bharatfin

533.55

-3.81

UNITECH

4.01

-3.37

PFC

121.15

-2.96

KEC

131.70

-2.34

Market Statistics

 

 

 

BSE

NSE

Advances

999

752

Declines

1021

667

 

Technical view: Nifty to find support around 7916 which was the last low on 21st November& will find resistance around 8050-8080.Bank Nifty also finds support around 17650 while 18143 will act as resistance on the upside.

 

Market Sentiment:

The market breadth on BSE was negative in the ratio of 468:1585, while 99 scrips remained unchanged.

 

Trading ideas :BEML (Buy above Rs 964 for target of Rs 1012, SL at Rs 940): Stock was trading in a range of Rs 900 to Rs 930 from past few days. In yesterday's trade, stock managed to break out of the recent trading range, and also close above the same. This led to breakout from an inverse head and shoulder pattern which is bullish in nature. Close above its 200-DMA with credible volume can augur well for BEML. We advise to Buy BEML above Rs 964, stop loss at Rs 940, and Target of Rs 1012.

 

MacroeconomicFront:The proposed Goa-Mumbai concrete expressway would promote tourism in Goa as well as in the Konkan region, Union Minister for Roads and Transport, Highways and Shipping NitinGadkari said on Thursday, adding that the project would also reduce the rate of accidents along the stretch.

Corporate Snippets:BhartiAirtelsaid its subsidiary Network has entered into a definitive agreement with Egyptian firm Oracom to acquire the latter’s entire equity stake in Middle East North Africa Submarine Cable Systems for and undisclosed amount.

 

Titan Company inaugurated its revamped store in the upmarket Jubilee Hills area of the city bringing together their retail chains.

 

RBL Bank has reduced has too launched discount sale on domestic routes.

 

Texmaco Rail Engg and Kalindee Rail Nirman have received Delhi High Court’s approval to merge the latter with former, the companies notified the bources.

Top Sectoral& Stock Screening:  The top gaining sectoral indices on the BSE were Consumer Durables up by 0.38% and Oil & Gas up by 0.28%, while Power down by 0.99%, Metal down by 0.93%, FMCG down by 0.83%, TECK down by 0.77% and Auto down by 0.76% were the losing indices on BSE.

Nifty Movers:The top gainers on the Sensex were Sun Pharma up by 2.51%, Bajaj Auto up by 0.64%, ONGC up by 0.51%, HDFC up by 0.50% and ICICI Bank up by 0.32%.  On the flip side, Mahindra & Mahindra down by 1.71%, Tata Motors down by 1.53%, Power Grid down by 1.43%, Adani Ports & Special Economic zone down by 1.33% and ITC down by 1.28% were the top losers.

 

 

 

 

On the global front:On the global front, Asian shares were trading mostly in red, as the stocks stepped back in subdued trade ahead of holiday season. Japan’s stock exchange was closed on account of ‘Emperor’s Birthday’ holiday. The index has posted seven straight weeks of gains, its longest winning streak since early 2013, boosted by the yen’s weakness in the face of a surging dollar.

 

Global Signals:The Asian markets were trading mostly in red; Hang Seng decreased 125.64 points or 0.58% to 21,510.56, Taiwan Weighted decreased 28.7 points or 0.31% to 9,090.05, Shanghai Composite decreased 24.09 points or 0.77% to 3,115.47, FTSE Bursa Malaysia KLCI decreased 4.02 points or 0.25% to 1,619.18 and KOSPI Index decreased 0.33 points or 0.02% to 2,035.40.On the other hand, Jakarta Composite increased 28.02 points or 0.56% to 5,070.89.

 

 

Global markets stall as oil,US$ halt after sharp rally with US equities set to hit 20000 as macro data improves

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Major headlines:

·         Key Indian equity indices trade lower

·         China expresses disappointment at EU favouring continued limits on Chinese solar panels

·         Gold steady but on track for seventh straight weekly loss

INDEX PERFORMANCE

 

 

Indices

Support

Resistanes

Sensex

25860

26171

Nifty

7945

8025

 

Indian Indices:Asian indices opened in the red with week end blues seeing caution ahead of the holiday shortened next week. US indices drifted lower as the 20000 mark still seems within reach even as US GDP growth recorded strong growth coming @ 3.5%.The year end blues saw profit booking in oil & US$ as the rally seems to be getting overstretched.  

Nifty gave up gains for the year as the last 7 days have seen the slow grind downwards gather momentum with 7916 being the last ray of hopes for the bulls. Bears have taken advantage of weak sentiment coupled with year end foreign selling & have seen the index turn negative for the year 2016.For today expect an attempt @ 7916 which was the 21st November low to be tested & defended as markets in extremely oversold territory & ripe for a sharp pullback.

The BSE Sensex is currently trading at 25904.77, down by 74.83 points or 0.29% after trading in a range of 25872.38 and 26007.16. 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 0.57%, while Small cap index was down by 0.38%. The CNX Nifty is currently trading at 7951.00, down by 28.10 points or 0.35% after trading in a range of 7942.05 and 7985.45. There were 18 stocks advancing against 33 stocks declining on the index.

 

MARKET INDICATORS

·           

 

Group ATopGainers

 

 

Company

Price (Rs)

% chg

Balramchin

121.50

4.70

Renuka

13.73

4.02

RDEL

55.20

3.86

Bajajfinace

794.70

3.72

Group ATopLosers

 

 

Bharatfin

533.55

-3.81

UNITECH

4.01

-3.37

PFC

121.15

-2.96

KEC

131.70

-2.34

Market Statistics

 

 

 

BSE

NSE

Advances

999

752

Declines

1021

667

 

Technical view: Nifty to find support around 7916 which was the last low on 21st November& will find resistance around 8050-8080.Bank Nifty also finds support around 17650 while 18143 will act as resistance on the upside.

 

Market Sentiment:

The market breadth on BSE was negative in the ratio of 468:1585, while 99 scrips remained unchanged.

 

Trading ideas :BEML (Buy above Rs 964 for target of Rs 1012, SL at Rs 940): Stock was trading in a range of Rs 900 to Rs 930 from past few days. In yesterday's trade, stock managed to break out of the recent trading range, and also close above the same. This led to breakout from an inverse head and shoulder pattern which is bullish in nature. Close above its 200-DMA with credible volume can augur well for BEML. We advise to Buy BEML above Rs 964, stop loss at Rs 940, and Target of Rs 1012.

 

MacroeconomicFront:The proposed Goa-Mumbai concrete expressway would promote tourism in Goa as well as in the Konkan region, Union Minister for Roads and Transport, Highways and Shipping NitinGadkari said on Thursday, adding that the project would also reduce the rate of accidents along the stretch.

Corporate Snippets:BhartiAirtelsaid its subsidiary Network has entered into a definitive agreement with Egyptian firm Oracom to acquire the latter’s entire equity stake in Middle East North Africa Submarine Cable Systems for and undisclosed amount.

 

Titan Company inaugurated its revamped store in the upmarket Jubilee Hills area of the city bringing together their retail chains.

 

RBL Bank has reduced has too launched discount sale on domestic routes.

 

Texmaco Rail Engg and Kalindee Rail Nirman have received Delhi High Court’s approval to merge the latter with former, the companies notified the bources.

Top Sectoral& Stock Screening:  The top gaining sectoral indices on the BSE were Consumer Durables up by 0.38% and Oil & Gas up by 0.28%, while Power down by 0.99%, Metal down by 0.93%, FMCG down by 0.83%, TECK down by 0.77% and Auto down by 0.76% were the losing indices on BSE.

Nifty Movers:The top gainers on the Sensex were Sun Pharma up by 2.51%, Bajaj Auto up by 0.64%, ONGC up by 0.51%, HDFC up by 0.50% and ICICI Bank up by 0.32%.  On the flip side, Mahindra & Mahindra down by 1.71%, Tata Motors down by 1.53%, Power Grid down by 1.43%, Adani Ports & Special Economic zone down by 1.33% and ITC down by 1.28% were the top losers.

 

 

 

 

On the global front:On the global front, Asian shares were trading mostly in red, as the stocks stepped back in subdued trade ahead of holiday season. Japan’s stock exchange was closed on account of ‘Emperor’s Birthday’ holiday. The index has posted seven straight weeks of gains, its longest winning streak since early 2013, boosted by the yen’s weakness in the face of a surging dollar.

 

Global Signals:The Asian markets were trading mostly in red; Hang Seng decreased 125.64 points or 0.58% to 21,510.56, Taiwan Weighted decreased 28.7 points or 0.31% to 9,090.05, Shanghai Composite decreased 24.09 points or 0.77% to 3,115.47, FTSE Bursa Malaysia KLCI decreased 4.02 points or 0.25% to 1,619.18 and KOSPI Index decreased 0.33 points or 0.02% to 2,035.40.On the other hand, Jakarta Composite increased 28.02 points or 0.56% to 5,070.89.

 

 

Global cues quiten as year end blues sees low turnover with range bound markets.

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Major headlines:

·         Monetary policy panel to wait and watch impact of demonestisation.

·         Indian equity market indices open flat

·         Asian shares slilp in holiday thinned trade, focus turns to U.S data

INDEX PERFORMANCE

 

 

Indices

Support

Resistanes

Sensex

26221

26522

Nifty

8055

8151

 

Indian Indices:Asian indices opened flat to marginally weak as US indices also had a rather quiet session with the Dow Jones ending marginally in the red. Pullback in oil prices & yields edging lower were the theme for the day as US$ also saw profit booking. Emerging markets continue to be the favorite punching bag on both currency & equity front as investors exit seeking better opportunities in US equity & bonds.   

Nifty gave up all gains in last half hour & drifted towards 8050 as renewed bout of foreign selling emerged. Banks, IT &Fmcg saw huge profit booking with commodities & auto's seeing buying. For today weak sentiment could see 8000 being tested as year end repatriation by select foreign investors could continue this week.

The BSE Sensex is currently trading at 26060.42, down by 181.96 points or 0.69% after trading in a range of 26027.58 and 26248.45. There were 3 stocks advancing against 27 stocks declining on the index. The broader indices were trading in red; the BSE Mid cap index was down by 1.04%, while Small cap index was down by 0.93%. The CNX Nifty is currently trading at 7999.75, down by 61.55 points or 0.76% after trading in a range of 7991.50 and 8046.45. There were 9 stocks advancing against 42 stocks declining on the index.

 

MARKET INDICATORS

·           

 

Group ATopGainers

 

 

Company

Price (Rs)

% chg

Sparc

318.50

3.61

Escorts

291.85

1.89

GDL

226.00

1.80

BEML

938.85

1.60

Group ATopLosers

 

 

Aloktext

3.21

-4.18

Jindalstel

68.90

-3.97

PEL

1501.25

-3.32

VEDL

218.55

-3.32

Market Statistics

 

 

 

BSE

NSE

Advances

999

842

Declines

1021

542

 

Technical view: Nifty finds last bastion support around 8000 which if broken can see a test of 7916 while 8150 atcs as strong resistance, Bank Nifty also finds support around 17900 with 18350 now acting as resistance.

 

Market Sentiment:

The market breadth on BSE was negative in the ratio of 468:1585, while 99 scrips remained unchanged.

 

Trading ideas :DLF (Buy above Rs 118.5 for target of Rs 123.5, SL at Rs 116): Stock was moving in a very narrow trading band from the past six trading sessions between Rs 111.5 and Rs 114. In yesterday's trade, stock managed to close above the same, creating a bullish belt hold candlestick pattern on the daily charts. If stock sustains above Rs 118.5, it would result in a triangle breakout. We advise to Buy DLF above Rs 118.5, stop loss at Rs 116, and Target of Rs 123.5.

 

MacroeconomicFront:The RBI's December decision to hold its key interest rate at 6.25 per cent was based on the unanimous view of the Monetary Policy Committee to take a prudent "wait and watch" approach pending more information on the full effects of demonetisation and against the backdrop of volatility in financial markets provoked by the then imminent tightening of monetary policy in the US.

Corporate Snippets:BhartiAirtelsaid its subsidiary Network has entered into a definitive agreement with Egyptian firm Oracom to acquire the latter’s entire equity stake in Middle East North Africa Submarine Cable Systems for and undisclosed amount.

 

Titan Company inaugurated its revamped store in the upmarket Jubilee Hills area of the city bringing together their retail chains.

 

RBL Bank has reduced has too launched discount sale on domestic routes.

 

Texmaco Rail Engg and Kalindee Rail Nirman have received Delhi High Court’s approval to merge the latter with former, the companies notified the bources.

Top Sectoral& Stock Screening:  The losing sectoral indices on the BSE were Metal down by 1.68%, Capital Goods down by 1.06%, Power down by 1.03%, Bankex down by 0.98% and PSU down by 0.89%, while there were no gainers.

Nifty Movers:The top gainers on Nifty were Eicher Motors up by 0.64%, Zee Entertainment up by 0.58%, Hindustan Unilever up by 0.50%, BhartiInfratel up by 0.49% and Tata Motors up by 0.44%.  On the flip side, Hindalco down by 2.67%, Adani Ports & Special Economic Zone down by 2.08%, Tata Steel down by 1.93%, Bank of Baroda down by 1.84% and SBI down by 1.64% were the top losers.

 

 

 

 

On the global front:On the global front, Asian shares were trading in red, after a lacklustre performance on Wall Street, with investors looking to US economic data later in the day for potential catalysts even as markets started winding down ahead of the holidays. The market volumes began to thin out in the run-up to the Christmas holidays with many investors sitting on the sidelines. Many major markets in Asia will remain close on Monday (and a few on Tuesday as well) to observe Christmas.

 

Global Signals:The Asian markets were trading in red; Hang Seng decreased 197.89 points or 0.91% to 21,611.91, Taiwan Weighted decreased 70.91 points or 0.77% to 9,133.35, Nikkei 225 decreased 52.66 points or 0.27% to 19,391.83, Jakarta Composite decreased 18.08 points or 0.35% to 5,093.31, Shanghai Composite decreased 6.87 points or 0.22% to 3,130.56, KOSPI Index decreased 2.14 points or 0.11% to 2,035.82 and FTSE Bursa Malaysia KLCI decreased 2.09 points or 0.13% to 1,627.50.

 

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