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Stock market commentary 30-10-2017

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Topic :- Share Market Closing Note

The benchmark indices settled at record closing highs on Monday as state-owned lenders extended a rally from the last week sparked by the governments announcement of a Rs 2.11 lakh crore recapitalisation plan, while energy firms gained on higher crude prices.

State-run lenders drove the indices higher, with the Nifty PSU bank index rising as much as 4.3%. Its 30% gain last week was much larger than a 0.8% rise in the Nifty private bank index over the same period.

The Nifty50 rallied as much as 61 points to hit its fresh high of 10,384, while the Sensex rose 184 points to log its record high of 33,340 in intraday trade. 

Overseas, European markets were trading sideways as earnings rolled in, while Asian markets climbed as the euro loitered around a 3-month low after the European Central Banks decision to extend its stimulus further fattened the dollars yield advantage.


Topic :- Time:3.00 PM

Nifty spot close above 10400 will result in some quick upmove in coming trading sessions and close below above mentioned level will result in some sluggish movement. Avoid open sell positions for tomorrow.


Topic :- Time:2.30 PM

ZINC Trading View:

ZINC is trading at 211.40. It will find immediate resistance to upmove at 212.50. If it fails to trade above it and sustains below its mentioned resistance then it is likely to slide towards 210 level quite soon.


Topic :- Time:2.25 PM

Just In:

Lupin Limited Q2: Consol PAT Rs 455 Cr Vs Rs 662 Cr, Down 31% YoY

LUPIN - good results after a long time

PAT, margins higher than expected


Topic :- Time:2.15 PM

We will close the year with 14% market share: JLR India MD:

Tata Motors-owned Jaguar Land Rover has had a dream run in the first nine months of the year growing at a whopping 45 percent. On Saturday, Land Rover launched the all-new Discovery at a price thats substantially cheaper than the outgoing model. Rohit Suri, Managing Director, Jaguar Land Rover India, spoke to Moneycontrol on the sidelines of the launch.

Q. How important is the launch of the all-new Discovery to JLR India?

A. This is a very important car for us, an important addition to our portfolio. We were missing out on this car for sometime actually. So it plugs a very important gap between Discovery Sport and Range Rover Sport. At a price of Rs 71.38 lakh for the petrol derivative it is a very important price point. It will help us compete more effectively.

Q. How different is it on price terms when compared to the outgoing model?

A. The old Discovery pricing was always in the range of Rs 1 crore plus. But here we are able to launch the petrol version at Rs 71.38 and diesel is priced at Rs 82.21 lakh. So, this is much better priced. But, of course, this model comes with many more innovative features. It is a better value for money.

Q. How have you priced it so competitively?

A. The foreign exchange rate has helped us plus we did not have a petrol version earlier. So that has brought down the entry price. The pricing for the outgoing model was fairly steep so it was not able to compete effectively in the market. But this car is right on target as far as competition is concerned. We already have a good response coming in.

Q. Any initial booking numbers you can share?

A. We cant share that but we can say that we have bookings for more than a month already.

Q. So far your competition have posted double-digit increase in sales this year. How has JLR fared?

A. Our growth was one of the highest. Between January to September we grew by 45 percent. We have not only outpaced the industry growth but also outpaced the competition by far. 2,942 cars have been sold during January-September.

Q. Has the cess not impacted you?

A. The cess increase happened in September. We had bookings from retail beforehand in anticipation of the cess coming in. We are seeing a slowdown in pace in October because of that.

Q. Has the January-December sales target already been met?

A. Most of our products are doing extremely well. For us the year has been going very well. We have to see how much of an impact the cess has in slowing down the pace of growth. But so far we have had a very good run.

Q. What market share does JLR have in India and what is the target?

A. Overall our market share was in the range of 8-9 percent and this we expect to grow to 13-14 percent by end of the year. Our growth market share means we are taking some part of the growth away from competitors.

Q. You are assembling 5 models in India presently. Are there plans to add more to the Chakan assembly plant?

A. We have some plans in the offing which we will announce very soon. We are constantly evaluating what more we can get. We will announce that as soon as we are ready.

Q. When will the Range Rover Velar be launched in India?

A. The Range Rover Velar would come in early part of next year.

Q. When do we expect the Jaguar E-Pace and iPace?

A. Right now there is no set date for those two launches. The E Pace is a fantastic vehicle but lets see how soon we can get it to India.


Topic :- Time:2.00 PM

Nifty is now ready for showing some movement finally. Nifty spot is trading at 10376. If it manages to trade and sustain above 10380 level then expect some quick upmove in the market and if it breaks and trade below 10360 level then some profit booking can follow. All lows should be still used as an opportunity to go long in the market.


Topic :- Time:1.40 PM

COPPER Trading View:

COPPER is trading at 446. If it manages to trade and sustain above 447.50 level then expect some quick upmove and if it breaks and trade below 444 level then some softness can be seen in copper.


Topic :- Time:1.15 PM

RELCAPITAL Trading View:

RELCAPITAL is trading at 588.60. If it manages to trade and sustain above 590 level then expect some quick upmove in it and is likely to test 600-605 levels quite soon and if it breaks and trade below 585 level then some softness can be seen in it.


Topic :- Time:12.30 PM


NATURALGAS is trading at 193.80. If it manages to trade and sustain above 195 level then expect some quick upmove in the NG and if it breaks and trade below 192.40 level then some profit booking can be seen in it.


Topic :- Time:12.15 PM

Nifty is still struggling to cross 10380 spot level. Further upmove is expected only above 10380 level and if it breaks and trade below 10350 level then some softness can be seen in the market.


Topic :- Time:11.30 AM

News Wrap Up:

1. IDFC Bank, Shriram set to call off merger talks

2. Bet your money on India, says Mukesh Ambani 

3. HDFC Life eyes stock currency for M&A deals

4. Modis own Amazon to end tender raj, corruption faces teething troubles

5. Retail lenders, RIL help India Incs combined net profit rise 8.6% in Q2

6. Bengaluru municipal corporations unpaid bills up 7706% in 4 yrs

7. ONGC hits 5-month high as Q2 profit beats estimates

8. TTML zooms over 100% in 12 trading days post deal with Bharti Airtel

9. Sebi panel suggests independent regulator needed for auditors

10. Bharat 22 ETF to open on November 14; govt aims to raise Rs 8,000 cr


Topic :- Time:11.00 AM

After positive opening nifty is still trading in positive zone. Nifty spot if manages to trade and sustain above 10380 level then expect some upmove and if it breaks and trade below 10320 level then some softness can be seen in the market.


Topic :- Nifty Opening Note

Volatile week expected. Q2 numbers to be deciding factor along with global cues.

Nifty spot if manages to trade and sustain above 10340 level then expect some upmove in it and if it breaks and trade below 10280 level then some profit booking can be seen in the market.

Please note this is just opening view and should not be considered as the view for the whole day.