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US stocks see profit booking as indices reach overbought levels with Dow Jones seeing 21000 as proverbial high.

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Indian Indices: Asian markets were trading in the red as profit booking overnight in the US. While, other emerging markets also saw indices succumb to stronger US Dollar and rising bond yields. The rally in the US may have reached the proverbial peak with 21000 on the Dow Jones being a huge tipping point in the near term. US Dollar strength will weigh on emerging markets as institutional investors book profit against currency weakness in these markets.


Nifty also saw huge reversal as nervous nineties played out perfectly with the mid-cap stocks leading the fall. Profit booking close to 9000 was on the cards as local mutual funds sold to take advantage of the superb near term rally in indices and stocks. For today expect initial profit booking to continue, however, second half index buying by foreign investors will arrest any further fall as foreign flows continue to be strong buyers. 


The BSE Sensex is currently trading at 28792.65, down by 47.14 points or 0.16% after trading in a range of 28736.10 and 28847.97. There were 16 stocks advancing against 14 stocks declining on the index. The broader indices were trading mixed; the BSE Mid cap index was down by 0.03%, while Small cap index was up by 0.13%. The CNX Nifty is currently trading at 8882.40, down by 17.35 points or 0.19% after trading in a range of 8862.45 and 8898.50. There were 25 stocks advancing against 26 stocks declining on the index.

 

MARKET INDICATORS

·           

 

Group ATopGainers

 

 

Company

Price (Rs)

% chg

Hathway

37.80

5.15

Infratel

301.75

4.09

Escorts

476.00

3.84

GSPL

162.60

3.80

Group ATopLosers

 

 

Apollohosp

1248.00

-5.16

Amtekauto

36.50

-3.05

Raymond

589.00

-3.05

NCC

78.95

-2.53

INDEX PERFORMANCE

 

 

Indices

Support

Resistanes

Sensex

28700

29060

Nifty

8855

8960

 

 

Technical view: Nifty will see 8830-8850 act as support while 8930 will act as first resistance. Bank Nifty has been the weaker of the 2 and sees support closer to 20450, which should hold while 20750 will act as resistance on the upside.


 

 

Trading ideas :TVS Motors (Buy above Rs 427, for Target of Rs 440, SL at Rs 420.5): The stock is trading in a constant higher top higher bottom cycle. The momentum indicator RSI has formed positive reversal at 60, which indicates bullish bias to the up move. It is also sustaining above the rising trend line support zone.


Derivative Snippets: In the last trading session, markets witnessed a wild swing in the final hour of trade. Bank Nifty was among the biggest loser as short selling of OTM March 02, 2017 weekly expiry call options and long unwinding of future contracts weighed in.

Nifty managed to hold the 8900 mark as 8900 put strike added fresh long position with the rise in open interest to the tune of ~1.82 lakh contracts. Substantial trading below 8900 may lead to a further downfall up to the support zone of 8800.

FIIs were net buyers in cash market segment to the tune of Rs ~123 crore. FII’s index future long/short ratio at 5.4x vs 4.5x.


 

Nifty Movers:  The top gainers on Nifty were BhartiInfratel up by 4.16%, Reliance Industries up by 2.32%, Hindalco up by 2.01%, Tata Power up by 1.79% and Grasim Industries up by 1.76%. On the flip side, Bosch down by 2.15%, HDFC down by 1.53%, ITC down by 1.53%, Asian Paints down by 1.38% and IndusInd Bank down by 1.16% were the top losers.

Top Sectoral& Stock Screening:  The top gaining sectoral indices on the BSE were Telecom up by 1.28%, Energy up by 1.09%, Realty up by 0.73%, Utilities up by 0.70% and Oil & Gas up by 0.54%, while FMCG down by 0.76%, IT down by 0.40%, Bankex down by 0.31%, Capital Goods down by 0.22% and Auto down by 0.20% were the losing indices on BSE.

 

 

 

On the global front:On the global front, Asian shares were trading in red, as traders become increasingly confident the Federal Reserve will hike interest rates this month. Japan’s core consumer prices rose for the first time in over a year in January due to a pickup in energy costs and private consumption, offering some hope for the central bank's efforts in accelerating inflation to its 2 percent target.

Global Signals: Asian Paints down by 1.38% and IndusInd Bank down by 1.16% were the top losers.The Asian markets were trading in red; Hang Seng decreased 164.98 points or 0.7% to 23,563.09, Nikkei 225 decreased 130.53 points or 0.67% to 19,434.27, Taiwan Weighted decreased 40.28 points or 0.42% to 9,651.52, KOSPI Index decreased 25.46 points or 1.21% to 2,077.19, Shanghai Composite decreased 13.87 points or 0.43% to 3,216.15, Jakarta Composite decreased 11.87 points or 0.22% to 5,396.38 and FTSE Bursa Malaysia KLCI decreased 7.08 points or 0.41% to 1,708.59.

 



Market extends losses, Nifty below 8900, Sensex down 180 pts

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Indian Indices: Amid firm global cues, Indian equity benchmarks maintained their early gains in late afternoon session on account of better-than-expected GDP data for the third quarter of current fiscal. Domestic sentiments were buoyed as Nikkei India Manufacturing Purchasing Managers’ Index rose to 50.7 in February from 50.4 in January. Sentiments also got some support with Economic Affairs Secretary ShaktikantaDas’ statement that the positive effects of demonetisation will be visible from April and the completion of remonetisation process will drive consumption going forward. 

However, upper side remained capped with a report that the Centre’s fiscal and revenue deficits between April and January exceeded the Budget target for 2016-17. The fiscal deficit shot up to 5,64,192crore, amounting to 105.7 per cent of the Budget estimate, between April 2016 and January 2017.

The BSE Sensex is currently closed at 28,839.79, down by -144.70 points or -0.50% after trading in a range of 28984.07 and 29145.62. There were 15 stocks advancing against 14 stocks declining on the index, while 1 stock remained unchanged.The broader indices were trading in red; the BSE Mid cap index was down by 0.70%, while Small cap index was down by 0.72%.

The CNX Nifty is currently shutdown at 8899.75, down by 46.05 points or 0.51% after trading in a range of 8898.60 and 8950.25. There were 29 stocks advancing against 22 stocks declining on the index.

MARKET INDICATORS

·           

 

Top Movers (Group A)

 

 

Company

Cmp

% chg

Gainers

 

 

Nationalum

75.70

5.87

Aplltd

606.00

5.74

Jublfood

1036.00

3.27

Havells

420.30

2.56

Losers

 

 

DLF

141.10

-8.11

Biocon

1033.85

-7.35

JPAssociat

14.95

-6.56

Network18

37.15

-5.83

INDEX PERFORMANCE

 

 

Index

Close

% Chg

Sensex

28,839.79

-0.50

Nifty

8,899.75

-0.51

 

Crporate Front: Global credit rating agency Moody's Investors Service on Thursday said the performance of Indian auto-backed securities (ABS) is not expected to deteriorate post March 2017.In a statement, Moody's said after worsening immediately after demonetisation last November the performance of rated Indian ABS levelled off in January 2017.


 

Macroeconomic front: Moody's Investors Service, the world’s leading rating agency, has said the performance of rated Indian auto asset backed securities (ABS) leveled off in January 2017 after worsening immediately after demonetization. The agency expects auto ABS performance to not deteriorate beyond March 2017, as the economy recovers, and oil prices remain range-bound and budget policy initiatives provide support. Signs of stabilization appeared in January 2017, with collection efficiency rising half a percentage point to 93 per cent from December 2016.

 

On the global front:

On global front, European markets were trading mixed as investors took a breather after a strong rally on Wall Street and focused on earnings and political instability. Asian markets were trading in green tracking the strong gains overnight on Wall Street after U.S. President Donald Trump's address to a joint session of Congress. Back home, in scrip specific development, BL Kashyap& Sons traded higher after the company secured new orders worth approximately Rs 431 crore.


Commodity Updates:

Commodity Prices (MCX):

Commodity

Rs

% Chang

Gold

29358.00

-0.24

Silver

43350.00

-0.13

Crude oil

3573.00

-0.86

Natural Gas

187.10

0.54

Alluminium

129.50

-0.27

Copper

403.30

-0.16

Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were Auto up by 0.82%, Industrials up by 0.45%, Capital Goods up by 0.40%, Metal up by 0.18% and IT up by 0.11%, while Realty down by 2.88%, Telecom down by 1.41%, Healthcare down by 0.93%, Utilities down by 0.89% and Power down by 0.88% were the top losing indices on BSE.

Top Nifty Movers:The top gainers on Nifty were Tata Motors up by 3.22%, Tata Motors - DVR up by 3.19%, Ultratech Cement up by 2.81%, Bajaj Auto up by 2.13% and Hero MotoCorp up by 1.97%. On the flip side, Idea Cellular down by 2.74%, BPCL down by 2.36%, Sun Pharma down by 2.34%, BhartiAirtel down by 1.96% and Yes Bank down by 1.51% were the top losers.

 

Global Signals:

Asian markets were trading mostly in green; KOSPI Index increased 11.01 points or 0.53% to 2,102.65, Taiwan Weighted increased 17.02 points or 0.18% to 9,691.80, FTSE Bursa Malaysia KLCI increased 18.47 points or 1.09% to 1,716.16, Jakarta Composite increased 57.03 points or 1.06% to 5,420.09 and Nikkei 225 increased 171.26 points or 0.88% to 19,564.80. On the flip side, Hang Seng decreased 48.42 points or 0.2% to 23,728.07 and Shanghai Composite decreased 16.9 points or 0.52% to 3,230.03.

European Markets were trading mixed; France’s CAC increased 1.71 points or 0.03% to 4,962.54 and UK’s FTSE 100 increased 6.7 points or 0.09% to 7,389.60. On the flip side, Germany’s DAX decreased 17.85 points or 0.15% to 12,049.34.

 

Dow Jones crosses 21000 as rate hike chances brighten with US Dollar gaining strength.

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Indian Indices: Asian markets were trading in the green taking cues from the overnight 300 plus point rally on the Dow Jones. The consensus now has built in the chances of a rate hike by the Fed in March, which saw yields harden and the US Dollar strengthen. Globally, the outperformance of equities continues with ETF funds seeing huge inflows.


Nifty bounced back in style to capture 8900 with ease and close near 8950. The stronger than expected GDP data and return of foreign flows will see Nifty touch 9000 today as global cues join the bull market chorus. For today, expect mid-cap gains to continue with the mid-cap index hitting all time highs. Metals, Pharma and Consumption could continue to lead the gainers while Energy and Telecoms see profit booking @ higher levels.


The BSE Sensex is currently trading at 29107.29, up by 122.80 points or 0.42% after trading in a range of 29062.07 and 29133.44. 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 0.42%, while Small cap index was up by 0.46%.

The CNX Nifty is currently trading at 8981.60, up by 35.80 points or 0.40% after trading in a range of 8969.80 and 8992.50. There were 39 stocks advancing against 12 stocks declining on the index.

MARKET INDICATORS

·           

 

Group ATopGainers

 

 

Company

Price (Rs)

% chg

GMR Infra

16.90

7.30

Jublfood

1074.60

7.12

Nationalum

75.30

5.31

Balkrisind

1377.80

5.23

Group ATopLosers

 

 

Sobha

323.25

-4.04

DLF

148.80

-3.09

Raymond

620.15

-3.01

Hexaware

221.95

-1.99

Market Statistics

 

 

 

BSE

NSE

Advances

1357

930

Declines

1054

542

 

 

Technical view: Nifty finds strong support @ 8920 while 9000 will be the first resistance on the upside while Bank Nifty also finds strong support around 20500 where it will face resistance around 21000.


INDEX PERFORMANCE

 

 

Indices

Support

Resistanes

Sensex

28860

29270

Nifty

8999

9030

 

Trading ideas :McleodRussel (Buy above Rs 176, for Target of Rs 183, SL at Rs 172.5): The stock was stuck in a narrow trading band for the past 3 weeks oscillating between Rs 173-166. Finally, Mcleod has broken out from a Flag pattern accompanied with increase in volumes. Projections indicate potential target for stock up to Rs 183 in the near term. Other momentum oscillators indicate that the current momentum is here to stay.

Derivative Snippets: Nifty Metal and Realty index shimmered as the markets restarted its upward trend after 2 days of minor correction. Nifty ATM/ITM put strikes witnessed short selling as the highest open interest put base shifted from 8500 to 8800 strike.

FIIs were net sellers in cash market segment to the tune of Rs 198 crore.


FII’s index future long/short ratio at 4.5x in contrast to 0.46x for the Retail clients.

Nifty Movers:  The top gainers on Nifty were Tata Motors up by 3.50%, Tata Motors - DVR up by 2.88%, Ultratech Cement up by 2.84%, Ambuja Cement up by 1.59% and Hindalco up by 1.53%.

On the flip side, Sun Pharma down by 1.29%, BPCL down by 1.21%, Dr. Reddy’s Lab down by 1.00%, Idea Cellular down by 0.93% and NTPC down by 0.78% were the top losers.

Top Sectoral& Stock Screening:  The top gaining sectoral indices on the BSE were Auto up by 1.24%, Industrials up by 1.18%, Metal up by 0.95%, Basic Materials up by 0.91% and Consumer Durables up by 0.81%, while Realty down by 0.71% and Healthcare down by 0.14% were the losers on BSE.

 

 

On the global front:On the global front, Asian shares were trading mostly in green, as investors were encouraged by President Donald Trump’s measured tone in his first speech to Congress, which sent Wall Street stocks sharply higher. China’s newly appointed banking regulator vowed to strengthen supervision of the lending sector, underscoring Beijing’s determination to fend off financial risks and push forward with reforms this year.

Global Signals: The Asian markets were trading mostly in green; KOSPI Index increased 12.49 points or 0.6% to 2,104.13, FTSE Bursa Malaysia KLCI increased 14.53 points or 0.86% to 1,712.22, Jakarta Composite increased 52.77 points or 0.98% to 5,415.83, Hang Seng increased 96.15 points or 0.4% to 23,872.64 and Nikkei 225 increased 191.63 points or 0.99% to 19,585.17.

On the other hand, Taiwan Weighted decreased 4.05 points or 0.04% to 9,670.73 and Shanghai Composite decreased 0.28 points or 0.01% to 3,246.65.

 

US Dollar gains strength as rate hike chances bolster bond yields as equities correct after stellar rally

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Indian Indices: Asian markets opened mixed with the Japanese 'Yen" weakness seeing gains in the stock indices while other markets opened flat. The US Dow Jones index corrected marginally after a long streak of 12 consecutive sessions of gains as the US Dollar gained strength on the back of growing expectation of a March rate hike by the Federal Reserve.


Nifty succumbed to profit booking and closed below the 8900 level as energy stocks dragged the index lower. GDP data released after market hours showed better than expected growth @ 7%, which belied any slow down after the 'demonetization' exercise in November. For today expect market consolidation and an attempt @ 8930 as positive data will see a renewed bout of buying by foreign investors. 


The BSE Sensex is currently trading at 28958.02, up by 214.70 points or 0.75% after trading in a range of 28824.17 and 29001.35. 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 0.26%, while Small cap index was up by 0.67%.

The CNX Nifty is currently trading at 8934.95, up by 55.35 points or 0.62% after trading in a range of 8898.60 and 8950.25. There were 38 stocks advancing against 13 stocks declining on the index.

MARKET INDICATORS

·           

 

Group ATopGainers

 

 

Company

Price (Rs)

% chg

Sobha

339.00

16.68

Intellect

120.25

7.75

Unitech

6.43

7.17

Adanitrains

64.70

4.44

Group ATopLosers

 

 

BPCL

657.80

-1.76

Piind

837.10

-1.29

MFSL

557.50

-1.21

Bhartfin

832.90

-1.35

Market Statistics

 

 

 

BSE

NSE

Advances

1357

1068

Declines

1054

393

 

 

Technical view: Nifty finds support @ 8850 while 8930 will act as first resistance on the upside. Bank Nifty will see a support closer to 20500 while 20800 will act as a resistance on the upside.


INDEX PERFORMANCE

 

 

Indices

Support

Resistanes

Sensex

28685

28935

Nifty

8860

8935

 

Trading ideas : HEROMOTOCO March Future (Sell below Rs 3140 for Target of Rs 3050, SL at Rs 3180): Stock has formed a classic bearish evening star pattern on the daily charts after it took resistance at its 200-DMA (3212), which also coincides with 61.8% retracement of ongoing downside move. The hourly charts too gave a breakdown from a rising trendline confirming our negative stance. We advise to SELL HEROMOTOCO March Future below Rs 3140, Stop Loss at Rs 3180, and Target of Rs 3050.

Derivative Snippets: In the last trading session, markets closed on a negative note. Minor hint of put buying was visible in Nifty ATM/OTM put strikes.

Short selling was witnessed in the weekly Bank Nifty 20500PE and 21000CE strikes, indicating of a rangebound trading activity going forward.


FIIs were net buyers in cash market segment to the tune of Rs 1146 crore. FII’s index future long/short ratio at 4.7x in contrast to 0.46x for the Retail clients.


Nifty Movers: The top gainers on Nifty were Axis Bank up by 2.43%, Dr. Reddy’s Lab up by 2.06%, HDFC up by 1.69%, Sun Pharma up by 1.66% and Hero MotoCorp up by 1.48%.

On the flip side, BPCL down by 1.57%, Tata Motors down by 1.16%, Ultratech Cement down by 1.10%, Idea Cellular down by 0.99% and BHEL down by 0.95% were the top losers.

Top Sectoral& Stock Screening:  The top gaining sectoral indices on the BSE were Realty up by 1.84%, Healthcare up by 1.05%, Bankex up by 0.98%, IT up by 0.81% and FMCG up by 0.66%, while Oil & Gas down by 0.70%, Energy down by 0.33% and Telecom down by 0.17% were the losers on BSE.

 

 

On the global front: On the global front, Asian shares were trading mostly in green, while Japanese stocks recovered from intraday lows after US President Donald Trump’s speech to Congress offered few details or surprises on tax and spending policies. China’s factory activity expanded for the eighth straight month in February as export orders picked up, a private survey showed, giving authorities more room to tackle financial risks in the economy as debt continues to rise.

Global Signals:The Asian markets were trading mostly in green; FTSE Bursa Malaysia KLCI increased 3.6 points or 0.21% to 1,697.37, Shanghai Composite increased 13.88 points or 0.43% to 3,255.61, Hang Seng increased 56.25 points or 0.24% to 23,796.98 and Nikkei 225 increased 266.14 points or 1.39% to 19,385.13.

On the other hand, Taiwan Weighted decreased 58.52 points or 0.6% to 9,691.95 and Jakarta Composite decreased 17.8 points or 0.33% to 5,368.89.South Korea stock exchange was closed on account of ‘Independence Movement Day’ holiday.

 

Market off day’s low; Nifty hovers near 8900; Asian Pains up 2%

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Indian Indices: Indian equity indices trimmed some of their losses but continued to trade below neutral line as investors took a pause ahead of key economic growth and fiscal deficit data due later in the day amid firm global cues. Markets pared its losses led by Realty, Telecom and Basic Materials stocks. 

However, the sell-off continued in Oil & Gas, Energy and PSU stocks. Investors took note of OECD report that cut India's growth forecast to 7% for 2016-17 in view of demonetisation from its earlier forecast of 7.4%, but said the pace will accelerate to 7.3% in the next fiscal 7.7% in 2018-19. It also said that India has been a star performer in gloomy times. Furthermore, sentiments remained subdued with India Ratings and Research’s (Ind-Ra’s) estimates that aggregate fiscal deficit of Indian states will increase marginally to 3.3% of gross domestic product (GDP) in FY18 from its forecast of 3.2% for FY17. It expects states’ debt/GDP ratio may increase marginally to 24.3% in FY’18 from 24% forecasted for FY17.

The BSE Sensex is currently trading at 28795.43, down by 17.45 points or 0.06% after trading in a range of 28729.52 and 28876.54. There were 15 stocks advancing against 15 stocks declining on the index. The broader indices were trading mixed; the BSE Mid cap index was down by 0.05%, while Small cap index was up by 0.54%.

The CNX Nifty is currently trading at 8883.60, down by 13.10 points or 0.15% after trading in a range of 8867.60 and 8914.75. There were 24 stocks advancing against 27 stocks declining on the index.

MARKET INDICATORS

·           

 

Top Movers (Group A)

 

 

Company

Cmp

% chg

Gainers

 

 

KTKBank

137.70

6.83

KSCL

495.60

6.43

RCOM

38.90

5.99

BHEL

162.00

5.88

Losers

 

 

Hindpetro

537.80

-3.91

Edelweiss

136.90

-3.69

BPCL

669.60

-2.75

Oberoirlty

321.25

-2.61

INDEX PERFORMANCE

 

 

Index

Close

% Chg

Sensex

28,812.88

-0.28

Nifty

8,896.70

-0.48

 

Crporate Front: Branches of public banks remained either closed or non-operational today as staffers and officers went ahead with their day-long strike pressing for various demands, including accountability of top executives in the wake of mounting bad loans. Services like cash deposits and withdrawal from branches and cheque clearances have been hit hard by the strike, which has been called under the aegis of the United Forum of Bank Unions (UFBU).


 

Macroeconomic front: The Goods and Services Tax (GST) will be implemented from July 1 as all states have agreed on the implementation date, Economic Affairs Secretary Shaktikanta Das said on Tuesday."GST should be implemented by July 1. All states have agreed (on the date)," Das told reporters here.

 

On the global front:

On global front, European markets were trading in green as investors geared up for fiscal stimulus and infrastructure spending announcements from U.S. President Donald Trump during his speech before Congress later today. Asian markets were trading in green, even as gains remain capped ahead of Trump's speech and the annual meetings of China's top legislature and top political advisory body.


Commodity Updates:

Commodity Prices (MCX):

Commodity

Rs

% Chang

Gold

29518.00

-0.65

Silver

43134.00

-0.67

Crude oil

3607.00

-0.44

Natural Gas

179.20

-0.28

Alluminium

126.75

-0.12

Copper

397.25

-0.29

 

Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were Realty up by 1.21%, Telecom up by 0.74%, Basic Materials up by 0.36%, Metal up by 0.34% and Capital Goods up by 0.21%, while Oil & Gas down by 1.33%, Energy down by 0.85%, PSU down by 0.44%, Auto down by 0.16% and IT down by 0.16% were the top losing indices on BSE.

Top Nifty Movers:The top gainers on Nifty were Hindalco up by 1.80%, Asian Paints up by 1.52%, BhartiAirtel up by 1.50%, Mahindra & Mahindra up by 1.41% and Yes Bank up by 1.09%. On the flip side, BPCL down by 5.20%, Coal India down by 2.62%, Grasim Industries down by 2.18%, Idea Cellular down by 2.01% and Bosch down by 1.76% were the top losers.

 

Global Signals:

Asian markets were trading mostly in green; FTSE Bursa Malaysia KLCI increased 1.44 points or 0.09% to 1,695.28, KOSPI Index increased 6.12 points or 0.29% to 2,091.64, Jakarta Composite increased 11.16 points or 0.21% to 5,394.04, Nikkei 225 increased 11.52 points or 0.06% to 19,118.99 and Shanghai Composite increased 13.07 points or 0.4% to 3,241.73. On the flip side, Hang Seng decreased 184.32 points or 0.77% to 23,740.73.

All European markets were trading in green; UK’s FTSE 100 increased 4 points or 0.06% to 7,257.00, Germany’s DAX increased 5.31 points or 0.04% to 11,827.98 and France’s CAC increased 6.73 points or 0.14% to 4,851.91.

 

 

Dow Jones rises for 12th consecutive session as oil rises & US Dollar sees strength ahead of President Trump's speech to Congress today.

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Indian Indices: Asian stocks saw a rebound on opening bell with the Japanese 'Nikkei" index leading the gains as the Yen weakness saw gains for export related stocks. With oil prices also rising in tandem the global equity rally is seeing commodities lead from the front as 'risk on' trade gathers momentum.


Nifty hit a minor roadblock yesterday with a drift below 8900 as profit booking in banks and financial stocks led the index lower. Reliance continues to lead from the front as new highs incite fresh bouts of buying both technically and fundamentally. For today expect Energy, IT and Pharma stocks to lead the gainers while Banks, Infra and Auto's see profit booking on rallies.  


The BSE Sensex is currently trading at 28834.45, up by 21.57 points or 0.07% after trading in a range of 28797.21 and 28876.54. There were 18 stocks advancing against 12 stocks declining on the index. The broader indices were trading in green; the BSE Mid cap index was up by 0.13%, while Small cap index was up by 0.42%.

The CNX Nifty is currently trading at 8899.65, up by 2.95 points or 0.03% after trading in a range of 8891.65 and 8914.75. There were 29 stocks advancing against 22 stocks declining on the index.

MARKET INDICATORS

·           

 

Group ATopGainers

 

 

Company

Price (Rs)

% chg

Sparc

336.90

5.28

Orientbank

126.20

3.27

KTKBank

133.15

3.30

Adanient

98.85

3.02

Group ATopLosers

 

 

Hindpetro

538.25

-3.83

Idea

111.40

-2.79

CoalIndia

322.95

-2.14

PVR

1255.50

-1.55

Market Statistics

 

 

 

BSE

NSE

Advances

1357

912

Declines

1054

548

 

Technical view: Nifty finds support around yesterday's low @ 8888 and finds resistance around 8930, any break either side on closing basis will trigger further movement while Bank Nifty broke important support around 20600, which will see any close below 20536 trigger further downside with 20750 acting as strong resistance on the upside.


INDEX PERFORMANCE

 

 

Indices

Support

Resistanes

Sensex

28750

29050

Nifty

8870

8975

 

Trading ideas : Jet Airways (Buy above Rs 445.5, for Target of Rs 462, SL at Rs 436): On the weekly charts, Jet Airways took rising trendline support and has been moving up swiftly. Also, stock has broken out from a classic cup and handle pattern on the daily charts. The breakout is accompanied by higher than average volume build up in past few days. In addition, other momentum oscillators also indicate strength in the current upmove. We advise to Buy JETAIRWAYS above Rs 445.5, Stop Loss at Rs 436 and Target of Rs 462.

Derivative Snippets: Markets finally took a breather as the banking stocks led the fall. Nifty ATM/OTM put strikes added fresh long positions, while the ATM/OTM call strikes added fresh short positions, indicating a further downside.

FIIs were net sellers in cash market segment to the tune of Rs 146 crore.


FII’s index future long/short ratio at 4.8x.


Nifty Movers:  The top gainers on Nifty were BhartiAirtel up by 1.15%, Tech Mahindra up by 1.11%, Bank of Baroda up by 1.06%, BhartiInfratel up by 1.01% and Zee Entertainment up by 0.95%.

On the flip side, BPCL down by 3.16%, Idea Cellular down by 2.23%, Coal India down by 2.08%, Grasim Industries down by 1.27% and Bajaj Auto down by 0.90% were the top losers.

Top Sectoral& Stock Screening:  The top gaining sectoral indices on the BSE were Telecom up by 0.72%, Capital Goods up by 0.41%, Healthcare up by 0.38%, Basic Materials up by 0.37% and Realty up by 0.30%, while Oil & Gas down by 0.75%, Energy down by 0.66%, FMCG down by 0.20%, PSU down by 0.09% and Auto down by 0.01% were the losing indices on BSE.

 

 

On the global front: On the global front, Asian shares were trading mostly in green, as investors awaited a speech by US President Donald Trump for signals on tax reform and infrastructure spending. Japan’s industrial output unexpectedly fell in January for the first time in six months, pressured by a slowdown in shipments of cars to the United States in a sign of an economy grappling for a more sure-footed recovery.

Global Signals: The Asian markets were trading mostly in green; Shanghai Composite increased 5.46 points or 0.17% to 3,234.12, KOSPI Index increased 7.29 points or 0.35% to 2,092.81, Jakarta Composite increased 15.65 points or 0.29% to 5,398.52 and Nikkei 225 increased 117.77 points or 0.62% to 19,225.24.

On the other hand, Hang Seng decreased 32.75 points or 0.14% to 23,892.30 and FTSE Bursa Malaysia KLCI decreased 0.14 points or 0.01% to 1,693.70.Taiwan Stock Exchange was closed on account of ‘Peace Memorial Day’ holiday.

 

Sensex closes lower, Nifty below 8900; Banks, telecom, auto drag

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Indian Indices: After trading in negative territory, Indian equity benchmarks continued their lackluster trade hovering near neutral lines in late afternoon session despite positive European markets. Investors failed to get any sense of relief with the Finance Minister ArunJaitley’s statement that the demonetisation process is almost complete and it has been the smoothest possible replacement of currency anywhere in the world. He said that a predominantly cash economy has now to be substituted with a digital economy, which will bring more money into the banking system and lead to better revenue generation; the integration of the informal economy with the more formal one is now taking place.

 He also said that the post-demonetisation regime is actually going to generate a far bigger GDP in the long run. Sentiments remained dampened with the report that economic think tank National Council of Applied Economic Research (NCAER) has lowered the country's growth forecast to 6.9% for the current fiscal on account of government’s demonetisation drive to curb black money and corruption.

The BSE Sensex is currently closed down at 28812.88, down by 80.09 points or 0.28% after trading in a range of 28812.88 and 28961.83. There were 14 stocks advancing against 16 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 0.36%.The CNX Nifty is currently shut down at 8896.70, down by 42.80 points or 0.48% after trading in a range of 8913.65 and 8951.80. There were 18 stocks advancing against 33 stocks declining on the index.

MARKET INDICATORS

·           

 

Top Movers (Group A)

 

 

Company

Cmp

% chg

Gainers

 

 

JPAssociat

16.21

9.68

Raymond

609.00

9.03

Escorts

454.05

8.07

Deltacorp

145.75

6.89

Losers

 

 

J&KBank

72.95

-5.26

Idea

114.35

-4.43

IDBI

78.80

-3.61

Cholafin

977.50

-3.55

INDEX PERFORMANCE

 

 

Index

Close

% Chg

Sensex

28,812.88

-0.28

Nifty

8,896.70

-0.48

 

Crporate Front: The Centre should scale up the production of active ingredients used in drugs to meet the country's need, a government institute has said after it found that over 95 per cent of the samples examined during a survey were sourced from China.


 

Macroeconomic front: The Reserve Bank of India today fixed the reference rate of the rupee at 66.7249 against the US dollar and 70.5149 for the euro. The corresponding rates were 66.8351 and 70.5444 on Friday.According to an RBI statement, the exchange rates for the pound and the yen against the rupee were 82.8923 and 59.51 per 100 yens, respectively.

 

On the global front: On the global front, European markets were trading in green tracking another set of record highs for Wall Street’s main equities gauges. However, Asian markets were trading in red as investors preferred to stay on the sidelines as they await more details on U.S. President Donald trump's fiscal stimulus plans. Trump is set to make his first address to a joint session of Congress on Tuesday.


Commodity Updates:

Commodity Prices (MCX):

Commodity

Rs

% Chang

Gold

29281.00

-0.07

Silver

42757.00

-0.18

Crude oil

3630.00

-1.04

Natural Gas

170.80

-0.99

Alluminium

125.60

0.16

Copper

403.00

-0.56

 

Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were Energy up by 2.01%, Oil & Gas up by 0.90%, IT up by 0.78%, Healthcare up by 0.50% and Consumer Durables up by 0.45%, while Telecom down by 2.13%, Bankex down by 0.84%, Auto down by 0.73%, PSU down by 0.44% and Power down by 0.40% were the top losing indices on BSE.

Top Nifty Movers:The top gainers on Nifty were Reliance Industries up by 4.92%, AurobindoPharma up by 2.77%, Infosys up by 1.14%, Lupin up by 1.08% and Hindustan Unilever up by 1.07%. On the flip side, Zee Entertainment down by 3.27%, BhartiAirtel down by 2.94%, Axis Bank down by 2.91%, Power Grid down by 2.51% and BhartiInfratel down by 2.47% were the top losers.

 

Global Signals:

All Asian markets were trading in red; Nikkei 225 decreased 176.07 points or 0.91% to 19,107.47, Hang Seng decreased 40.65 points or 0.17% to 23,925.05, Shanghai Composite decreased 24.77 points or 0.76% to 3,228.66, KOSPI Index decreased 8.6 points or 0.41% to 2,085.52, Jakarta Composite decreased 5.19 points or 0.1% to 5,380.76 and FTSE Bursa Malaysia KLCI decreased 3.04 points or 0.18% to 1,695.31.

All European markets were trading in green; France’s CAC increased 19.47 points or 0.4% to 4,864.71, UK’s FTSE 100 increased 33.73 points or 0.47% to 7,277.43 and Germany’s DAX increased 45.51 points or 0.39% to 11,849.54.

 

 

Sensex closes lower, Nifty below 8900; Banks, telecom, auto drag

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Indian Indices: After trading in negative territory, Indian equity benchmarks continued their lackluster trade hovering near neutral lines in late afternoon session despite positive European markets. Investors failed to get any sense of relief with the Finance Minister ArunJaitley’s statement that the demonetisation process is almost complete and it has been the smoothest possible replacement of currency anywhere in the world. He said that a predominantly cash economy has now to be substituted with a digital economy, which will bring more money into the banking system and lead to better revenue generation; the integration of the informal economy with the more formal one is now taking place.

 He also said that the post-demonetisation regime is actually going to generate a far bigger GDP in the long run. Sentiments remained dampened with the report that economic think tank National Council of Applied Economic Research (NCAER) has lowered the country's growth forecast to 6.9% for the current fiscal on account of government’s demonetisation drive to curb black money and corruption.

The BSE Sensex is currently closed down at 28812.88, down by 80.09 points or 0.28% after trading in a range of 28812.88 and 28961.83. There were 14 stocks advancing against 16 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 0.36%.The CNX Nifty is currently shut down at 8896.70, down by 42.80 points or 0.48% after trading in a range of 8913.65 and 8951.80. There were 18 stocks advancing against 33 stocks declining on the index.

MARKET INDICATORS

·           

 

Top Movers (Group A)

 

 

Company

Cmp

% chg

Gainers

 

 

JPAssociat

16.21

9.68

Raymond

609.00

9.03

Escorts

454.05

8.07

Deltacorp

145.75

6.89

Losers

 

 

J&KBank

72.95

-5.26

Idea

114.35

-4.43

IDBI

78.80

-3.61

Cholafin

977.50

-3.55

INDEX PERFORMANCE

 

 

Index

Close

% Chg

Sensex

28,812.88

-0.28

Nifty

8,896.70

-0.48

 

Crporate Front: The Centre should scale up the production of active ingredients used in drugs to meet the country's need, a government institute has said after it found that over 95 per cent of the samples examined during a survey were sourced from China.


 

Macroeconomic front: The Reserve Bank of India today fixed the reference rate of the rupee at 66.7249 against the US dollar and 70.5149 for the euro. The corresponding rates were 66.8351 and 70.5444 on Friday.According to an RBI statement, the exchange rates for the pound and the yen against the rupee were 82.8923 and 59.51 per 100 yens, respectively.

 

On the global front: On the global front, European markets were trading in green tracking another set of record highs for Wall Street’s main equities gauges. However, Asian markets were trading in red as investors preferred to stay on the sidelines as they await more details on U.S. President Donald trump's fiscal stimulus plans. Trump is set to make his first address to a joint session of Congress on Tuesday.


Commodity Updates:

Commodity Prices (MCX):

Commodity

Rs

% Chang

Gold

29281.00

-0.07

Silver

42757.00

-0.18

Crude oil

3630.00

-1.04

Natural Gas

170.80

-0.99

Alluminium

125.60

0.16

Copper

403.00

-0.56

 

Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were Energy up by 2.01%, Oil & Gas up by 0.90%, IT up by 0.78%, Healthcare up by 0.50% and Consumer Durables up by 0.45%, while Telecom down by 2.13%, Bankex down by 0.84%, Auto down by 0.73%, PSU down by 0.44% and Power down by 0.40% were the top losing indices on BSE.

Top Nifty Movers:The top gainers on Nifty were Reliance Industries up by 4.92%, AurobindoPharma up by 2.77%, Infosys up by 1.14%, Lupin up by 1.08% and Hindustan Unilever up by 1.07%. On the flip side, Zee Entertainment down by 3.27%, BhartiAirtel down by 2.94%, Axis Bank down by 2.91%, Power Grid down by 2.51% and BhartiInfratel down by 2.47% were the top losers.

 

Global Signals:

All Asian markets were trading in red; Nikkei 225 decreased 176.07 points or 0.91% to 19,107.47, Hang Seng decreased 40.65 points or 0.17% to 23,925.05, Shanghai Composite decreased 24.77 points or 0.76% to 3,228.66, KOSPI Index decreased 8.6 points or 0.41% to 2,085.52, Jakarta Composite decreased 5.19 points or 0.1% to 5,380.76 and FTSE Bursa Malaysia KLCI decreased 3.04 points or 0.18% to 1,695.31.

All European markets were trading in green; France’s CAC increased 19.47 points or 0.4% to 4,864.71, UK’s FTSE 100 increased 33.73 points or 0.47% to 7,277.43 and Germany’s DAX increased 45.51 points or 0.39% to 11,849.54.

 

 

Sharetipsinfo-Research Report-Global cues bring Domestic Rally

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Global cues bring Domestic Rally

A joyful life is an individual creation that cannot be copied from a recipe.

The market has seen a joyful run in recent series. A healthy correction is long awaited. Global cues today are subdued and that need not bring in any meaningful fall. So far, sector rotation and follow-on buying have kept the market in good cheer. This week will see the market react to Q4 GDP numbers and infrastructure output for January. The outlook is a weak start. RIL could help reduce the losses on the main indices. The F&O rollover was encouraging as market wide rollover of Nifty contracts to March series stood at 73 pc as against an average of less than 70 pc in the last three series. HPCL could see action on reports that ONGC could take control of it as part of the government’s plan to create an integrated public sector oil entity. FPI activity has resumed as overseas investors put in over Rs. 14,600 crore into the Indian market in Feb investing Rs 9,359 crore in equities and another Rs 5,279 crore in the debt segment.

DERIVATIVES STRATEGY

Rollovers Analysis - February 2017

Back to back strong series, as Nifty shutting shop at 8940 levels for February expiry, Nifty/Banknifty up 3.9/7.2% on (eoe) basis. Participation increased as open interest swelled towards life high levels on market wide positions and Bank nifty OI at highest since 2010.

Strong domestic flows, global equity rally, positive news momentum on index heavy weights (HDFCBank/Reliance/TCS) pushed Nifty higher towards physiological mark of 9,000. Rollovers of Nifty/Bank Nifty stood at 73/60% (2.25cr/27.5lacs shares) as against 3 months average of 69/68%, rollovers in share terms were significantly higher for bank nifty to tune of 37% compared to previous month. Market-wide rolls stood at 82.8 as against 82% in the previous expiry.

FIIs long/short index futures rolls stood at 77/32% as against previous four month average of 66/46%. Total aggregate open interest rolled to March series at 387cr increased by 21% when compared to previous expiry. On options data, March series Nifty index starts at strike 9,000 calls/8500 puts holding the maximum OI to tune of 3.36mn/3.09mn shares. With FED policy event and domestic election outcome due in March volatility likely to inch higher from current levels.

Derivatives Diary

  • Nifty ending February expiry at 8940 levels, SGX Nifty indicates gap down opening to tune of 30 points on back of weakness in global markets.
  • Rollovers for Nifty/Bank Nifty stood at 73/60% (2.25cr/27.5lacs shares) as against 73/60% (1.9cr/20lacs shares) previous expiry.
  • Bank nifty open interest surged significantly at 27.5 lacs shares lead by buoyancy in private banks.
  • FIIs index futures long/short ratio at 4.83x starting with net long futures positions at 1.8lacs contracts.
  • Volatility likely to inch higher as markets awaits FED policy and domestic election outcome during the month.

Fixed Income Synopsis

  • The new 10Y benchmark 6.97% GS 2026, closed 2bps lower at ~6.92% vs previous days close of 6.94% and the 7.59% GS 2026 ended at 7.07%.
  • The demand at the fixed Repo window was Rs.15bn, while the supply at the fixed Reverse Repo window was registered at Rs.68.97bn. The Call WAR closed at 5.92% vs. previous close of 5.88%.
  • The benchmark five-year OIS closed the session at 6.72% vs. previous day's close of 6.73%, while the 1-Y OIS closed at 6.42% vs. previous day's close of 6.43%.
  • The Reserve Bank of India’s Reference Rate for the US Dollar was Rs.66.83 as on February 23, 2017, while the corresponding rate for the previous day, February 22 was Rs.66.96.

Technical Track

Nifty made new 52-week high on Friday but gave a close below previous peak (8969) at 8940. Currently index is trading within the three-digit gann channel i.e. 8860-8910 wherein, multiple gann pressure points are observed. Failure to break above 9010 could see Nifty beginning a corrective move in the form of rangebound consolidation. As per Gann analysis, this week is an anniversary period where index formed a major bottom of 6826 on 29th Feb 2016. According to Gann, anniversary dates more often results in the formation of tops and bottoms (either minor or significant). A year earlier around the same time period (i.e. 4th March 2015), Nifty had made a top of 9119. So after a rally of ~14% from the midpoint i.e. 7894 of entire move of 6825 to 8969, Nifty is hovering close to its all-time high level, wherein multiple supply points are found. So risk reward ratio for creating fresh longs are not favorable.

Commodity & Currency Cues

 

Goldprices registered a 3 � month high, helped by relatively soft US dollar and rising gold ETF inflows. Holdings in world’s largest gold backed ETF (SPDR) have risen some 5% this month. Short term outlook for the yellow metal hinges on Fed rate expectations. In this context, markets do not expect a rate hike till June policy meeting, which is deemed supportive for the precious pack. This week, markets will be interested in the second estimate of US Q4 GDP growth numbers, expected at 2.1%, slightly higher than the first reading.

In the non-ferrous pack, metal prices have regained some lost ground after a liquidation on Thursday. On copper, there are no signs of any end to the labour strike at Escondida mine in Chile.

Oilfutures are holding ground despite seventh consecutive weekly rise in US oil inventories. Nevertheless, stockpiles at Cushing, Oklahoma (storage hub) registered the biggest weekly drop since October.

Greenback slipped to a two-week low against Yen, with values dipping to below 112 level at one point of time. Meanwhile, trading in Euro and Sterling remains relatively range-bound. On speculative front, CFTC reported that non-commercials/funds increased bullish bets on the dollar for the first time in seven weeks.

Corporate Snippets

Oil and Natural Gas Corp (ONGC)will invest Rs73.27bn in developing four oil and gas projects, including the Ratna field which it had got back from Essar Oil.

ZydusCadilareceived US drug regulator US Food and Drug Administration (USFDA) approval for the group’s plans to initiate a Phase-2 clinical trial of Saroglitazar Magnesium (Mg) in patients with Primary Biliary Cholangitis of the liver.

Softbank has denied reports claiming that it was interested in picking up a stake in the Vodafone- Idea Cellular merger.

Jet Airwaysannounced a reciprocal codeshare partnership with Hong Kong Airlines, which will enable Indian fliers to travel seamlessly to New Zealand, Japan, Indonesia, Vietnam and Thailand.

Piramal Enterprises (PEL)has entered into a partnership with Cambridge to provide long term equity capital to residential projects across five metros in the country.

ICICI Bankhas acquired its 814.4mn shares of Jaiprakash Power Ventures Ltd under the strategic debt restructuring plan.

In a big jot to Indian Oil Corp (IOC), The Odisha Government has withdrawn tax incentives given, to the Rs345.55bn Paradip refinery, making the company reconsider its plans to invest another Rs520bn in the State.

Larsen and Toubro Hydrocarbon Engineering, subsidiary of Larsen & Toubro has bagged orders worth Rs11bn from IOC for its Bongaigaon refinery in Assam.

Coal Indiasaid the board of its arm Northern Coalfield has approved a share buyback plan worth Rs12.44bn.

Tata Steelhas received environment clearance (EC) for expansion of its Haldia coke plant in West Bengal by ramping up unit capacity from existing 1.6MTPA to 2.2MTPA, making it the largest standalone coke plant in Asia.

Shoppers Stop has sold almost its entire 5% stake in airport retail venture Nuance Group Fashion & Luxury Duty-Free Private for an undisclosed sum.

Oil and Natural Gas Corporation's (ONGC) board has approved the signing of definitive agreements for buying Gujarat State Petroleum Corp's (GSPC) entire 80% stake in the KG-basin natural gas block for USD1.2bn. (BS)

BhartiAirtelwould buy Telenor (India) Communications, in a deal that will bolster Airtel's footprint with additional spectrum in the 1800MHz band.

 

 

Economy Updates

Overseas investors have pumped in over Rs146bn into the Indian capital markets this month so far, enthused by clarity on FPItaxation.

India's foreign exchange reserves declined by USD56.8mn to USD362.73bn in the week to February 17, on account of dip in foreign currency assets (FCAs).

Independent Power Producers can now bid for coal allocated to state government-run coal based power plants.

Indian firms raised over Rs46bn through issuance of shares to institutional investors during 2016, a sharp fall of 76% from the previous year.

 

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