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Nifty ends above 8400, Sensex up over 100 pts:

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Major headlines

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

·         8 NBFCs surrender their certificate of registration to RBI

·         India, US ink agreement on cyber security cooperation

INDEX PERFORMANCE

 

 

Index

Close

% Chg

Sensex

27,247.16

0.39

Nifty

8,407.20

0.32

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

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

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

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

MARKET INDICATORS

·           

 

Top Movers (Group A)

 

 

Company

Cmp

% chg

Gainers

 

 

NHPC

29.90

9.12

NLINDIA

91.50

8.93

SJVN

32.30

7.49

AIAENG

1401.00

6.67

Losers

 

 

OIL

348.15

-3.81

Jubilant

679.30

-3.80

IDEA

72.20

-3.22

PVR

1183.35

-3.04

Market Statistics

 

 

 

BSE

NSE

Advances

1397

648

Declines

1190

811

 

Market Sentiment:

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

Crporate Front:

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

Macroeconomic front:

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

 

On the global front:

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


Commodity Updates:

Commodity Prices (MCX):

Commodity

Rs

% Chang

Gold

28480.00

0.64

Silver

41232.00

0.55

Crude oil

3580.00

-0.25

Natural Gas

226.40

1.48

Alluminium

121.20

1.38

Copper

398.95

1.45

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

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

 

Global Signals:

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

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

 

 

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

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Major headlines:

·         Government hopeful of achieving disinvestment target

·         Demonestisation to have positive impact next fiscal

·         Key Indian equity indices open higher

INDEX PERFORMANCE

 

 

Indices

Support

Resistanes

Sensex

8338

8430

Nifty

27020

27295

 

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


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


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

 

MARKET INDICATORS

·           

 

Group ATopGainers

 

 

Company

Price (Rs)

% chg

Power grid

198.50

4.61

MMTC

72.50

4.54

Godrejprop

336.00

3.72

Cyient

510.00

3.64

Group ATopLosers

 

 

OIL

346.30

-4.32

Jubilant

684.00

-3.14

IDEA

72.75

-2.48

SRTRANSFI

942.00

-2.56

Market Statistics

 

 

 

BSE

NSE

Advances

1052

1168

Declines

1152

307

 

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


Market Sentiment:

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

 

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

 

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


Corporate Snippets:

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

 

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

 

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

 

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

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

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

 

 

 

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

 

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

 

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

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Major headlines

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

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

·         Reforms, Policy effectiveness to decide India rating

 

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

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

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

 

 

Market Sentiment:

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

Crporate Front:

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

Macroeconomic front:

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

 

On the global front:

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


 

Commodity Updates:

Commodity Prices (MCX):

Commodity

Rs

% Chang

Gold

28062.00

0.04

Silver

40630.00

-0.14

Crude oil

3567.00

-0.2

Natural Gas

215.50

1.32

Alluminium

118.45

0.85

Copper

387.25

1.12

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

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

 

Global Signals:

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

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

 

 

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

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Major headlines:

·         Asset deterioration a challenge for Indian banks.

·         Money has lost secrecy post demonetization

·         Key Indian equity indices open in green

INDEX PERFORMANCE

 

 

Indices

Support

Resistanes

Sensex

26454

26725

Nifty

8138

8215

 

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


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


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

 

MARKET INDICATORS

·           

 

Group ATopGainers

 

 

Company

Price (Rs)

% chg

BEML

1135.15

14.7

MMTC

68.30

9.72

Fortis

203.10

5.62

KPIT

140.70

4.45

Group ATopLosers

 

 

Cadila

367.55

-3.10

DRreddy

3072.05

-2.80

HCC

40.90

-1.68

PIIND

827.10

-1.50

Market Statistics

 

 

 

BSE

NSE

Advances

1131

1168

Declines

1047

307

 

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


Market Sentiment:

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

 

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

 

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

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

 

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

 

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

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

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

 

 

 

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

 

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

 

WEEKLY NIFTY TRADING VIEW FOR THE WEEK JAN09, 2016–JAN15, 2016

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Events to watch this week

  • US adds 156,000 jobs, wages up most since 2009
  • Yuan volatility causes concern amid tight liquidity
  • Global growth uptick persisted in December
  • 2016 US auto sales set record

The Week ahead:

  • The eurozone releases unemployment figures on Monday, 9 January
  • The minutes of the December meeting of the ECB Governing Council are released on Thursday, 12 January
  • China releases December trade figures on Friday, 13 January
  • US retail sales figures for December are reported on Friday, 13 January

For the week,Global equities extended gains this week amid upbeat economic data and continued hopes for US fiscal stimulus. So far, US markets continue to hold just below record levels, with the 20,000 mark in the Dow Jones Industrial Average yet to be breached as of this writing, though the FTSE 100 set all-time highs this week. Ten-year US Treasury note yields fell to 2.40% from a pre-Christmas level of 2.53%. Oil prices firmed modestly, with West Texas Intermediate crude rising to $53.90 from $53.25 before the holidays. Global Brent rose to $56.90 from $55.80. The Chicago Board Options Exchange Volatility Index (VIX) was little changed at 11.45.

NIFTY- 8,243.80
CRUDE OIL-Rs 3,678barrel
GOLD-Rs 27,875/10 gram
Rs/$-Rs 67.96

MARKET ROUND UP

Key benchmark indices logged small gains in first week of calendar year 2017. Key indices edged lower in three out of five trading sessions during the week. Gains were triggered as buying of equities by domestic institutional investors outpaced selling by foreign portfolio investors. The S&P BSE Small and Mid-Cap indices outperformed the Sensex during the week.

In the week ended Friday, 6 January 2017, the Sensex rose 132.77 points or 0.5% to settle at 26,759.23. The Nifty 50 index rose 58 points or 0.71% to settle at 8,243.80.

The BSE Mid-Cap index gained 290.38 points or 2.41% to settle at 12,321.72. The BSE Small-Cap index gained 394.20 points or 3.27% to settle at 12,440.33. Both these indices outperformed the Sensex.

Macro Economic Front:

On the Economic Front,manufacturing PMI in India fell to 49.60 in December 2016 from 52.30 in November. A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction. The reading pointed to the first contraction since December 2015, as output, new orders and new export orders fell amid cash shortages in the economy. Data was announced during trading hours on Monday, 2 January 2017.

Major Action &Announcement:

Wipro fell 0.86%. The company announced that its Digital TV Middleware solution has successfully enabled Hisense 4K TVs in Japan. Hisense Co. is a multinational white goods, brown goods and electronics manufacturer. The Wipro solution supports Hisense 4k TV product features ISDB-T/S Broadcast and HD-PVR to enable a premium viewing experience for customers. The announcement was made before market hours on Thursday, 5 January 2017.

According to reports, the new bill would require workers on the H-1B visa pay a minimum of $100,000, up from $60,000 currently. The bill also removes the Master's degree exemption to the cap on the number of visas available, as per reports. The bill comes after companies such as Disney and Southern California Edison have come under fire for outsourcing their IT operations to Indian companies.

Sun Pharmaceutical Industriesrose 1.78%. The company announced successful phase 3 confirmatory clinical trial results for Seciera (cyclosporine A, 0.09% ophthalmic solution), for the treatment of dry eye disease. Seciera is a patented, novel, proprietary nanomicellar formulation of cyclosporine A 0.09%. It is a clear, preservative-free, aqueous solution. Seciera is being developed by Ocular Technologies, a company recently acquired by Sun Pharma. Following this acquisition, Sun Pharma owns exclusive, worldwide rights to Secier and is developing it to commercialize for global markets including US, Europe, and Japan, as well as several emerging markets.

Tata Motors gained 5.61%. The company's British luxury unit Jaguar Land Rover (JLR) reported a 30% jump in retail sales in US in December 2016. JLR on Wednesday, 4 January 2017, announced its US retail sales for the month of December 2016. JLR's US sales rose 30% to 12,573 units in December 2016 over December 2015. Jaguar sales jumped 259% to 4,294 units in December 2016 over December 2015. Land Rover sales declined 2% to 8,279 units in December 2016 over December 2015.

Maruti Suzuki India rose 5.45%. The company said its total sales fell 1% to 1.17 lakh units in December 2016 over December 2015. The company announced the monthly sales volume on Sunday, 1 January 2017.

Mahindra & Mahindra (M&M) rose 3.49%. The company said its total tractor sales rose 9% to 14,047 units in December 2016 over December 2015. The company's total auto sales declined 4% to 36,363 units in December 2016 over December 2015. The company announced the monthly sales volume during market hours on Monday, 2 January 2017.

Global Front:

In Overseas Markets,China's Caixin Manufacturing Purchasing Managers' index (PMI) rose 51.9, compared to 50.9 in November on the back of increased demand. A reading above 50 represents expansion in a sector, whereas a reading below 50 represents contraction. The private manufacturing survey results come after figures at the weekend showed China's official PMI fell to 51.4 in December.

Activity in China's service sector expanded at a faster pace in December, a private gauge showed on Thursday, 5 January 2016, adding to recent signs of firmness in China's economy. The Caixin China services purchasing managers' index rose to 53.4 in December from 53.1 in November, Caixin Media Co. and research firm Markit said. A reading above 50 indicates a month-to-month expansion, while a reading below that points to a contraction.

Global Economic News:

December US payrolls solid but unspectacular
The United States added 156,000 new jobs in December while the unemployment rate edged up to 4.7%. A 2.9% annual rise in average hourly earnings was the most attention-grabbing aspect of Friday’s report. It was the largest yearly gain in wages since 2009. Rising wages, unless offset by gains in worker productivity, could negatively impact corporate earnings down the road. Wage increases may also keep the US Federal Reserve on guard for additional rate hikes in the months ahead. The US reported a wider trade deficit on Friday, with a fall in exports likely to trim economic growth estimates for the fourth quarter. The deficit expanded to $45.2 billion in November, a nine-month high, from $42.4 billion in October.

Global growth rebound continues
Solid purchasing managers’ surveys from December were reported early this week, suggesting that the uptick in global growth seen in recent months continued through year-end. The US reported its 91st consecutive month of manufacturing growth, with the Institute for Supply management index rising to 54.7 from 53.2. The United Kingdom’s manufacturing purchasing managers' index rose to 56.1, the highest in two and a half years, despite the looming specter of Article 50 being invoked later this year.

US auto sales set record
Global auto manufacturers sold a record-setting 17.55 million new cars and light trucks in the US in 2016, according to research firm Autodata. Sixty percent of the sales were classified as light trucks since SUVs fall into that category. In 2015, 17.48 million units were sold, 56% of them light trucks.

Australian trade returns to surplus
For the first time in nearly three years, Australia recorded a trade surplus in November. Rebounding commodity prices helped lift the trade account into the black, and the data suggest that the economy might avoid a technical recession after shrinking by 0.5% in Q3.

Unhappy holidays for many US retailers
Many US retailers struggled this holiday season as sales continued to migrate to the Internet. Two notable cases were Macy’s and Sears, traditional anchor tenants of US shopping malls, which each announced the closure of more than 100 stores. Additionally, Sears announced the sale of its iconic Craftsman tool brand to Stanley Black & Decker for $900 million.

GLOBAL CORPORATE NEWS

 

China forced to defend yuan amid outflows
It was a wild week for China’s yuan. On Thursday, overnight offshore deposit rates were ratcheted up to 80% in an attempt to squeeze out speculative short positions in the currency. That move set off a frantic short-covering rally, but the rally was largely reversed on Friday. In a further attempt to keep funds from leaving China, the government introduced additional capital controls effective 1 January and encouraged state-owned enterprises to sell foreign currencies. China is believed to be trying to stabilize the currency in advance of US president-elect Donald Trump’s inauguration on 20 January.

 

NEW 52-WEEK HIGH BSE (A):

 

COROMANDEL

319.00

EIDPARRY

289.20

IOC

355.00

NEW 52-WEEK LOWS BSE (A):

DIVISLAB

735.50

MAJOR WEEKLY GAINERS IN BSE A CATEGORY:

JPAssociates

10.39

MMTC ltd

62.25

Unitech

4.64

MAJOR WEEKLY LOSERS IN BSE A CATEGORY:

jsw steel

89.21

mphasis ltd

-6.99

lic housing

-6.23


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

Monday (09 Jan)
Consumer Credit
Tuesday(10 Jan)
NFIB Small Business & Wholesale Trade

Wednesday(11 Jan)
MBA Mortgage Applications
Thursday(12 Jan)
Jobless Claims
Friday(13 Jan)
Retail Sales

Fundamental Pick of the week:

BUY Tata Motors Ltd For Target Rs. 600.00

TATAMOTORS is a well know Indian MNC and a flagship company of the Tata Group. After acquiring Jaguar Land Rover, it gained global recognition as well.Technically, it is a sound stock and is on recovery mode after retracing 50% as per Fibonacci levels of the rise 265-598 levels.

We firmly believe; it has potential to outperform its peers as well as broader markets. Hence, we advocate buying this stock in range 480-490 with 440 stop loss for 600 targets.

Recommendation

Buy Tata Motors Ltd  @ 480-490 Stoploss 440 Target 600 CMP 498

Indian Market Outlook:

Nifty ended marginally lower in the passing month, tracking mixed global cues and not so favorable domestic factors. After marginal bounce in the first week, it maintained its negative tone for most part of the month; however, recovery in final week of the calendar year significantly trimmed the losses. Finally, it settled at 8185.80; down by nearly half a percent.

It rebounded after retesting the crucial support mark of 7900, raising hope of sustainable recovery in January month.

TECHNICAL VIEW:

 

S3

S2

S1

NIFTY

R1

R2

R3

8,140

8,175

8,215

8,243.80

8,288

8,335

8,390

Technically, charts are in the favor of rebound but a lot depends upon the upcoming earning season. On the daily chart, the Nifty is trading above the 20- day moving average (DMA) and the 40-DMA, ie 8121 and 8195, respectively. The momentum indicator is positive on the daily chart.

On the hourly chart, the Nifty is trading between the 20-hour moving averages (HMA) and the 40-HMA, ie 8246 and 8208, respectively. The hourly momentum indicator has turned positive. The market breadth was negative, with 639 advances and 962 declines on the National Stock Exchange.

Conclusion:

Nifty has immediate hurdle at 8300 and requires participation from the banking space for further recovery. Meanwhile, stock specific movement, especially in the cash segment, is offering ample trading opportunities and we expect this trend to continue ahead also. So, traders should plan their positions keeping in mind the above factors.

Nifty ends at 8244, Sensex falls 119 pts: IT sheds 3%

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Major headlines

·         NatcoPharma gets USFDA approval for leukemia drug

·         Suzlon bags 105 MW order from Axis Energy Group

·         China nibbles at Samsung share to take 50 percent of India’s smartphone market.

INDEX PERFORMANCE

 

 

Index

Close

% Chg

Sensex

26,759.23

-0.44

Nifty

8,243.80

-0.36

Indian Indices: The key Indian equity indices continued their lackluster trade in late afternoon session as a slump in IT shares on worries over H-1B visas. Sentiments remained downbeat on account of selling in Realty, TECK and FMCG counters. Selling pressure increased after European stocks opened lower. Sentiments were also hit after President Pranab Mukherjee cautioned that the government's demonetisation decision could likely lead to a temporary slowdown in the economy and hurt the poor. Sentiments also remained dampened with a private report highlighted that India’s GDP is likely to have grown at a much slower-than-expected pace of 5 percent in the October-December period and may see a 6 percent growth in the following quarter due to a slowdown in manufacturing and services sectors post demonetization. Meanwhile, for the first time since demonetisation of high-value currency notes, President Pranab Mukherjee has cautioned that the government's demonetisation decision could likely lead to a temporary slowdown in the economy and hurt the poor. Addressing to Governors and Lieutenant Governors, President has said that demonetization.

The BSE Sensex is closed at 26,759.23, down by 119.01 points or 0.44% after trading in a range of 26822.52 and 27009.61. There were 20 stocks advancing against 10 stocks declining on the index.The broader indices were trading mixed; the BSE Mid cap index was up by 0.13%, while Small cap index was down by 0.05%.The CNX Nifty is shut down at 8243.80, down by 30.00 points or 0.36% after trading in a range of 8257.75 and 8306.85. There were 31 stocks advancing against 19 stocks declining on the index, while 1 stock remained unchanged.

MARKET INDICATORS

·           

 

Top Movers (Group A)

 

 

Company

Cmp

% chg

Gainers

 

 

Jswenergy

65.35

6.00

Wockpharma

710.70

5.55

Natcopharma

624.10

4.49

Fortis

192.30

3.83

Losers

 

 

Justdial

375.75

-4.63

Mindtree

500.55

-4.39

HCC

41.60

-3.82

TECHM

469.7\5

-3.80

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:

Japan has decided to assist India in the development of three cities namely - Chennai, Ahmedabad and Varanasi as smart cities, as per the government release. The Ministry of Urban Development said in a release that this was on Thursday conveyed by Japan’s Ambassador to India Kenji Hiramatsu during his meeting with Minister of M. Venkaiah Naidu.

Macroeconomic front: Union Finance Minister ArunJaitley has said that the government's initiatives, including demonetisation, to eliminate the shadow economy and tax evasion will positively impact the GDP and fiscal consolidation of the country in the long term. Commenting on the issue, Finance Minister ArunJaitley told the media.

 

On the global front: On the global front, European markets were trading in red as investors keep a close eye on commodity prices and currency movements. Asian markets were trading mixed, Chinese and Japanese shares ended in the red, tracking exchange rate fluctuations ahead of the closely-watched U.S. jobs report due tonight. While China's yuan gave up some gains after a two-day surge, the Japanese yen strengthened further against the dollar on expectations of slow pace of rate hikes in the U.S.

Commodity Updates:

Commodity Prices (MCX):

Commodity

Rs

% Chang

Gold

27905.00

-0.15

Silver

40234.00

-0.53

Crude oil

3675.00

1.07

Natural Gas

219.90

0.59

Alluminium

115.75

0.22

Copper

380.35

-0.03

Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were Bankex up by 1.07%, Metal up by 0.69%, PSU up by 0.56%, Power up by 0.33% and Oil & Gas up by 0.29%, while IT down by 2.38%, TECK down by 1.91%, FMCG down by 0.73%, Realty down by 0.49%, and Capital Goods down by 0.07% were the top losing indices on BSE.

Top Nifty Movers:The top gainers on Nifty were Yes Bank up by 2.96%, ONGC up by 2.88%, Bank of Baroda up by 1.95%, Kotak Mahindra Bank up by 1.78% and BhartiInfratel up by 1.76%. On the flip side, HCL Tech. down by 3.50%, Tech Mahindra down by 3.17%, Idea Cellular down by 2.74%, TCS down by 2.33% and Infosys down by 2.29% were the top losers.

 

Global Signals:

Asian markets were trading mostly in green; KOSPI Index increased 7.17 points or 0.35% to 2,049.12, FTSE Bursa Malaysia KLCI increased 11.87 points or 0.72% to 1,671.69, Taiwan Weighted increased 14.08 points or 0.15% to 9,372.22, Jakarta Composite increased 21.02 points or 0.39% to 5,346.53 and Hang Seng increased 46.32 points or 0.21% to 22,503.01. On the flip side, Nikkei 225 decreased 66.36 points or 0.34% to 19,454.33 and Shanghai Composite decreased 11.09 points or 0.35% to 3,154.32.

All European markets were trading in red; Germany’s DAX decreased 19.18 points or 0.17% to 11,565.76, France’s CAC decreased 18.79 points or 0.38% to 4,881.85 and UK’s FTSE 100 decreased 9.61 points or 0.13% to 7,185.70.

 

 

US$ falls in tandem with bonds as Trump rally falters with value buying re emerging in emerging markets

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Major headlines:

·         IATA urges government to defer higher air navigation charges

·         Key equity indices trade higher during early session

·         Australia trade surplus breaks long drought as exports boom

INDEX PERFORMANCE

 

 

Indices

Support

Resistanes

Sensex

26454

26725

Nifty

8138

8215

 

Indian Indices:Asian indices ex Japan were all trading in the green as emerging markets are starting the New Year in fine fettle as proxy to weakness to US$ with the Trump rally seeing profit booking. The US$ weakened sharply to near November 8th levels & in tandem we saw bond yields also fall to 2.36% levels last seen around the US election results.

Nifty broke the 200 DMA @ 8271 & will further exhibit strength on the back of stronger Rupee & buying by foreign investors whose selling has halted & net inflows now very much on the cards. For today expect industrials, banks & oil marketing companies to see buying while tech stocks to be under pressure due to Rupee strength. Weekly close today over the 200 DMA will see bears further scramble for cover.


The BSE Sensex is currently trading at 26887.19, up by 8.95 points or 0.03% after trading in a range of 26883.78 and 27009.61. There were 19 stocks advancing against 11 stocks declining on the index.The broader indices were trading mixed; the BSE Mid cap index was up by 0.24%, while Small cap index was down by 0.05%.The CNX Nifty is currently trading at 8270.30, down by 3.50 points or 0.04% after trading in a range of 8270.30 and 8306.85. There were 31 stocks advancing against 20 stocks declining on the index.

MARKET INDICATORS

·           

 

Group ATopGainers

 

 

Company

Price (Rs)

% chg

JSWenergy

65.85

6.81

Wockpharm

718.55

6.72

Fortis

194.45

4.99

ONGC

205.60

2.98

Group ATopLosers

 

 

TEchm

471.50

-3.44

Aloktext

3.56

-3.26

HCLTECH

818.00

-3.09

HCC

41.95

-3.01

Market Statistics

 

 

 

BSE

NSE

Advances

1131

1168

Declines

1047

307

 

Technical view: Nifty broke above the 200 DMA @ 8271 & needs to sustain today with 8230 acting as support while 8330 will act as resistance. Bank Nifty also closed near the day high & will face resistance @ 18202 which is the 200 DMA while 18000 will act as strong support.


 

Market Sentiment:

The market breadth on BSE was positive in the ratio of 1131:1047, while 143 scrips remained unchanged.

 

Trading ideas: INDUSINDBK (Buy above Rs 1129 for target of Rs 1159, SL at Rs 1115): Stock has witnessed a classic double bottom breakout on the daily charts. The breakout coincides with the stock closing above the crucial 50 and 200-DMA. Volumes in yesterday's trade were stellar, and this makes Indusind Bank a perfect price volume breakout counter. We advise to Buy INDUSINDBK above Rs 1129, Stop loss at Rs 1115 and Target of Rs 1159.

 

MacroeconomicFront: Terming Banks Board Bureau (BBB) has said that consolidation in public sector banks is a long drawn process and it should gather momentum in 2-3 years. Commenting on the issue, Banks Board Bureau Chief VinodRai told the media, "Finance Minister in his Budget speech talked about consolidation of banks. Prime Minister has made references to the idea that there should be 6 or 8 large banks.


Corporate Snippets: Wockhardtsaid German regulator has issued European Union Good Manufacturing Practice certificate to the company’s Ankaleshwar facility in Gujrat.

 

Tata Motors and Castrol inked a three year agreement under which the lubricants maker would supply commercial vehicle oils to the home grown auto major in over 50 markets, including SAARC and ASEAN reqion, west Asia Africa Russia and latin America.

 

As many as 10 international offshore drilling contractors including Transocean Inc have offered best in class deepsea drilling rigs to Oil and Natural Gas Crop for its KG-D5 gas field devlopments.

Top Sectoral& Stock Screening:  The top gaining sectoral indices on the BSE were Bankex up by 0.74%, PSU up by 0.52%, Oil & Gas up by 0.42%, FMCG up by 0.25% and Power up by 0.21%, while IT down by 2.85%, TECK down by 2.30%, Realty down by 0.51% and Metal down by 0.03% were the losing indices on BSE.

Nifty Movers:The top gainers on Nifty were ONGC up by 2.55%, Yes Bank up by 2.36%, Bank of Baroda up by 1.69%, IndusInd Bank up by 1.66% and GAIL India up by 1.19%. On the flip side, HCL Tech down by 4.37%, Tech Mahindra down by 4.13%, TCS down by 3.21%, Infosys down by 2.57% and Wipro down by 2.06% were the top losers.

 

 

 

On the global front: On the global front, Asian shares were trading mostly in green, as a surge in the dollar and its borrowing costs sparked by Donald Trump’s election eased, with the US 10-year yield slipping to one-month lows. In contrast, Japan’s Nikkei, one of the best performers since Republican Trump won the November 8 election, dropped as the yen gained versus the dollar. China raised the exchange rate for the yuan against the US dollar by 0.92 percent from the previous day, the biggest one-day increase in more than 11 years.

 

Global Signals:The Asian markets were trading mostly in green; Taiwan Weighted increased 4.91 points or 0.05% to 9,363.05, KOSPI Index increased 7.25 points or 0.36% to 2,049.20, FTSE Bursa Malaysia KLCI increased 8.58 points or 0.52% to 1,668.40, Jakarta Composite increased 13.77 points or 0.26% to 5,339.28 and Hang Seng increased 63.78 points or 0.28% to 22,520.47.On the other hand, Nikkei 225 decreased 77.07 points or 0.39% to 19,443.62 and Shanghai Composite decreased 6.2 points or 0.2% to 3,159.21.

 

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.

 

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