INDIAN EQUITY MARKET OUTLOOK-26 DECEMBER

INDIAN BENCHMARKS started on a marginally positive note ahead of December F&O expiry today. The petroleum ministry is planning a new subsidy-sharing mechanism that might come as relief to upstream oil companies like ONGC, Oil India and GAIL India.

FURTHER, NTPC planning to bid for the upcoming ultra mega power project (UMPP) and seeking exemption from the investment ceiling on the state-run utility. Allahabad Bank gets shareholders nod for preferential issue to Government of Rs4bn and QIP of Rs3.2bn.

Trend in FII flows: The FIIs were net buyers of Rs. 40cr in the cash segment on Tuesday while the domestic institutional investors (DIIs) were net sellers of Rs. 43cr, as per the provisional figures released by the NSE.

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DAILY EQUITY REPORT-26 December 2013

DAILY EQUITY REPORT

INDIAN FACE 

INDIAN EQUITY BENCHMARK ended near their day's lows, amid a range bound trading session, as investors booked profits in late trades unwilling to carry over positions ahead of the Christmas holiday tomorrow followed by expiry of December derivative contracts on Thursday. 

Further, Sesa Sterlite ended down after the (CBI) said it 
started an investigation into possible irregularities in its stake buy in Hindustan Zinc Ltd 

UltraTech Cement ended up CCI has approved the company’s proposal to acquire two plants of Jaypee Cement Corporation in Gujarat. 

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INDIAN EQUITY MARKET OUTLOOK-24 DECEMBER

INDIAN EQUITY MARKET OUTLOOK

                                         
INDIAN BENCHMARKS opened on a positive note tracking global cues. RCOM has been allowed to exit from Universal Services Obligation Fund project under which mobile companies get subsidy to share mobile infrastructure and offer telephony services in rural and remote areas.

FURTHER, Tata Housing, the real estate development company from Tata Group, entered into an agreement with Alstom T&D India to buy its manufacturing unit spread across 20 acres in Bangalore for 120 crore. YES Bank had raised $150 million from International Finance Corporation (IFC), Washington, a member of the World Bank group, for up to seven years.

Trend in FII flows: The FIIs were net buyers of Rs. 135cr in the cash segment on Monday while the domestic institutional investors (DIIs) were net buyers of Rs. 38cr, as per the provisional figures released by the NSE.

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INDIAN MARKET WRAP UP- 09 December 2013

INDIAN BENCHMARKS closed by recording higher.

INDIAN BENCHMARKS rose to a record high as stocks of blue chips surged after main opposition party BJP, widely seen by investors as being more business friendly, swept three out of four key state elections held since last month.

Further, Crompton Greaves has moved higher by 4% at Rs 134 after the company’s promoters have released nearly seven million pledge shares lying with lenders. Bharti Airtel, telecom operator by subscriber base would invest more than Rs 4,000 crore in Punjab over the next five years. The company signed an agreement with the Punjab government.

The crucial resistance for Nifty is now seen at 6385 and above this 6415. Support for the immediate term is now placed at 6310 and next support will be 6250.

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INDIAN MARKET OUTLOOK - 09 December 2013

INDIAN BENCHMARKS open higher and breach all-time highs on hopes of a similar victory for the BJP-led National Democratic Alliance (NDA) in next year's general elections. Tata Sons plans to raise at least 3 billion rupees ($48.56 million) via two separate bond deals.

FURTHER, Coal India Ltd by pursuing its overseas expansion strategy actively looking at five proposals for acquisition of mines in Indonesia. The Law Ministry and the Planning Commission have backed an Oil Ministry proposal to allow Reliance Industries to almost double the price of gas from April in return for a USD 90 million bank guarantee every quarter.

Trend in FII flows: The FIIs were net buyers of Rs.863 cr in the cash segment on Friday while the domestic institutional investors (DIIs) were net sellers of Rs. 743 cr, as per the provisional figures released by the NSE.

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INDIAN MARKET WRAP UP- 06 December 2013

INDIAN BENCHMARKS closed for the day on a positive note.

INDIAN BENCHMARKS ended to their highest close in more than a month, extending gains for a second consecutive session on hopes state elections results on Sunday will show strong support for the main opposition party ahead of general polls due next year.

Further, Cairn India Ltd has bid for one oil and gas exploration block in Sri Lanka while ONGC Videsh did not bid for any of the 13 blocks on offer in that country mainly due to poor prospectively. Shares of ONGC gained more than 2.5 percent ahead of board of directors meeting for announcement of interim dividend today.

The crucial resistance for Nifty is now seen at 6275 and above this 6300. Support for the immediate term is now placed at 6230 and next support will be 6200.

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INDIAN MARKET OUTLOOK - 06 December 2013

INDIAN BENCHMARKS open flat likely amid mixed global cues. The Reserve Bank of India will soon introduce cash-settled interest rate futures on 10-year government bonds and has also permitted exchanges to launch these derivatives in other smaller tenor securities in the future.

FURTHER, Tata Group which was planning to bid for 100% stake in Chennai airport has represented to the government on a cross ownership clause in the RFQ, which may not allow Tata Group arm, Tata Realty and Infrastructure, to participate in the bid. JLR subsidiary of Tata Motors invests £ 240 million to build new plant in Rio De Janeiro, Brazil.

Trend in FII flows: The FIIs were net buyers of Rs.1151 cr in the cash segment on Thursday while the domestic institutional investors (DIIs) were net sellers of Rs. 674 cr, as per the provisional figures released by the NSE.

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INDIAN MARKET WRAP UP- 05 December 2013

INDIAN BENCHMARKS ended with mark their highest close in a month.

INDIAN BENCHMARKS ended with mark their highest close in a month, as stocks of blue chips, including lenders surged after exit polls predicted a strong showing for the key opposition party in state elections held recently.

Further, AXIS Bank gained 4.38% to Rs 1,241.80 that three global payment processing giants are bidding for the bank's network of credit and debit card swipe machines business. Coal India soars 4% on special dividend buzz; PSU may consider a special dividend of Rs 18 to 20 per share at its December board meeting.

The crucial resistance for Nifty is now seen at 6300 and above this 6345. Support for the immediate term is now placed at 6230 and next support will be 6200.

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INDIAN MARKET OUTLOOK - 05 December 2013

INDIAN BENCHMARKS open firm with rose gap up opening, after exit polls predicted a strong showing for the key opposition party in state elections held since November. The Winter Session of Parliament begins today as an ambitious UPA decides to take up 29 bills in just 12 sittings. Crucial economic legislations like Direct Tax Code (DTC), Insurance FDI Bill are on the agenda.

FURTHER, Essar Energy Holdings seeking conversion of FCCBs aggregating USD 262 million into equity shares, it has received a notice from Promoter Company. HSBC divides expansions in activity from contractions even though growth in the services sector stalled at October's seven-month high.

Trend in FII flows: The FIIs were net buyers of Rs.52 cr in the cash segment on Wednesday while the domestic institutional investors (DIIs) were net sellers of Rs. 18 cr, as per the provisional figures released by the NSE.

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INDIAN MARKET WRAP UP- 04 December 2013

INDIAN BENCHMARKS ended with lower on weak Asian cues.

INDIAN BENCHMARKS ended lower for the second straight day, amid weak Asian cues, as investors booked profits in late trades ahead of the assembly election results due on Sunday.

Further, UCO bank has been an unlikely beneficiary of Western sanctions against Iran, handling billions of dollars from frozen oil payments that boosted its interest margins, but is now having to prepare itself for life after the windfall. Shares of tyre makers are continue at their upward march on the bourses even though the frontline stocks struggling for gain.

The crucial resistance for Nifty is now seen at 6185 and above this 6230. Support for the immediate term is now placed at 6170 and next support will be 6130.

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INDIAN MARKET OUTLOOK -04 December 2013

INDIAN BENCHMARKS open flat to negative tracking weak global cues, focus on the counting from assembly polls on Delhi. An Empowered Group of Ministers approved the awaited Mergers and Acquisitions (M&A) guidelines for the telecom sector for sale of 403 MHz of spectrum in the 1800 MHz band.

FUTHER, Sesa Sterlite has received funding of $900 million from its two cash-rich subsidiaries to help it repay loans taken to buy oil producer Cairn India. HSBC has decided not to exit its insurance venture with public sector lenders Canara Bank and Oriental Bank of Commerce.

Trend in FII flows: The FIIs were net buyers of Rs. 516 cr in the cash segment on Tuesday while the domestic institutional investors (DIIs) were net sellers of Rs. 671 cr, as per the provisional figures released by the NSE.

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INDIAN MARKET WRAP UP- 03 December 2013

INDIAN MARKET WRAP UP- 03  December 2013

INDIAN BENCHMARKS ended with marginally lower amid.

INDIAN BENCHMARKS ended marginally lower as investors booked profits at higher levels after gains in the previous three sessions, due to profit-taking in stocks of blue chips such as Larsen and Toubro Ltd after upbeat U.S. data raised fears the Federal Reserve would reduce its monetary stimulus.

Further, Reliance Industries was up 1% on reports that Reliance Industries-BP combine is leading the race for picking up 25% stake in Gujarat government's planned LNG import terminal at Mundra. After a disappointing year-on-year sales performance in November, stocks of auto companies were declined by 0.5% on Tuesday. The decline in the BSE auto index was led by losses in Mahindra & Mahindra, Hero MotoCorp, Bajaj Auto and Tata Motors.

 The crucial resistance for Nifty is now seen at 6230 and above this 6290. Support for the immediate term is now placed at 6190 and next support will be 6170.

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INDIAN MARKET OUTLOOK - 03 DECEMBER 2013

INDIAN BENCHMARKS open in the red on account of negative global cues, as an unexpectedly strong U.S. factory activity gauge bolstered expectations the Federal Reserve will soon reduce its stimulus.

FUTHER, RIL insider-trading case adjourned fighting with two cases- one challenging the new consent mechanism guidelines, another seeking adjudication proceedings on the insider trading case. Cairn India is trading higher by 1% at Rs 323 in early morning deals on the NSE on media reports that the company has struck significant oil reserves in its Krishna-Godavari (KG) Basin onshore field KG-ONN-2003/1.

Trend in FII flows: The FIIs were net buyers of Rs. 790cr in the cash segment on Monday while the domestic institutional investors (DIIs) were net sellers of Rs. 618cr, as per the provisional figures released by the NSE.

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INDIAN MARKET WRAP UP - 02 DECEMBER 2013

INDIAN BENCHMARKS end near one month high.

INDIAN BENCHMARKS close with highest in nearly a month as shares such as Tata Steel gained after promising manufacturing data at home and in China eased concerns about slowing economies.

Further , Indian Oil Corp Ltd gained 1.2 percent after the company said on Saturday it would raise retail prices of diesel by 1 percent, or 0.57 rupees (1 cent), from Sunday in line with a plan to gradually align them with international prices. An HSBC survey showed on Monday that Indian manufacturing returned to growth last month as a strong rise in orders pushed factories to step up production.

The crucial resistance for Nifty is now seen at 6230 and above this 6290. Support for the immediate term is now placed at 6170 and next support will be 6100.

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INDIAN MARKET OUTLOOK - 02 DECEMBER 2013

INDIAN BENCHMARKS set to open strong, to ride on bets on the outcome of the state election results, foreign inflows and better-than-expected economic data. India's L&T evaluates alternatives for monetisation of certain assets of L&T IDPL.

FUTHER, ONGC will be under pressure after Gujarat High Court has directed the company to pay dues worth Rs 5,000 crore to Rs 6,000 crore to the state government towards differences in royalty of crude the PSU has extracted since 2008. Oil prices rose in Asian trade as dealers welcomed upbeat manufacturing data in China, the world's top energy consumer.

Trend in FII flows: The FIIs were net buyers of Rs. 745cr in the cash segment on Friday while the domestic institutional investors (DIIs) were net sellers of Rs. 101cr, as per the provisional figures released by the NSE.

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INDIAN MARKET WRAP UP - 29 NOVEMBER 2013

INDIAN BENCHMARKS end higher ahead of Q2 GDP numbers.

INDIAN BENCHMARKS closed for the week on a strong note on renewed interest from the domestic institutional investors who have been net sellers thus far. 

Further , NHPC closed higher by 2% at Rs 18.15 after the company’s share buyback program of 1,230 million shares at a price of Rs 19.25 per share on a proportionate basis through the Tender Offer Process began today.  India's Jubilant Life Sciences Ltd surge 7.5 percent after the company said it got approval from the U.S.drug regulators for a generic version of AstraZeneca Plc's Seroquel drug, used for the treatment of schizophrenia and bipolar disorder.

The crucial resistance for Nifty is now seen at 6215 and above this 6290. Support for the immediate term is now placed at 6100 and next support will be 6065.

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INDIAN MARKET OUTLOOK - 29 NOVEMBER 2013

INDIAN BENCHMARKS are likely to open flat on lacklustre cues, with gross domestic product (GDP) growth forecast to remain below 5 percent for the fourth consecutive quarter in the July-September period. GDP data, due out on November 29, is expected to show that Asia's third largest economy grew 4.6 percent on year.

FUTHER, Wipro may see some price action after India’s third largest IT company, has been threatened with legal action by authorities for allegedly not paying Rs 17 crore property tax as sought by the Bangalore municipal corporation.    

Trend in FII flows: The FIIs were net buyers of Rs. 102cr in the cash segment on Thursday while the domestic institutional investors (DIIs) were net buyers of Rs. 330cr, as per the provisional figures released by the NSE.

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INDIAN MARKET WRAP UP - 28 NOVEMBER 2013

INDIAN BENCHMARKS Closes with rose today.

INDIAN BENCHMARKS ended on a high note after a volatile session on account of November series F&O expiry today, recovering from two sessions of falls as Power Grid Corp and other blue chips recovered from recent losses, while Dr. Reddy's gained after a rival received an import ban for a key drug from the U.S. regulator.

Further , Crompton Greaves is trading higher by 4% at Rs 125 on hopes that the benefits of recovery are likely to improve earnings of the company over the next few quarters. Cairn India Ltd’s today cleared share buyback plan of Rs 5,725 crore for 8.9% stake at at a price not exceeding Rs 335 per equity share, expected to be initiated in January next year.  

                                                

The crucial resistance for Nifty is now seen at 6125 and above this 6215. Support for the immediate term is now placed at 6065 and next support will be 6030.

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INDIAN MARKET OUTLOOK - 28 NOVEMBER 2013

INDIAN BENCHMARKS open higher on firm global cues. Adani Ports & SEZ Ltd (APSEZ) today signed a memorandum of understanding (MoU) with the Belgian Port of Zeebrugge, to act as a strategic entry port for the European market.

FUTHER, The Oil Ministry has issued a notice to Reliance Industries disallowing USD 1.79 billion in cost recovery at KG-D6. The notice also mentions an additional amount of USD 795 million. Technology stocks have lagged the broader market this year, with the S&P information technology sector index rising almost 21 percent,

Trend in FII flows: The FIIs were net sellers of Rs. 48cr in the cash segment on Wednesday while the domestic institutional investors (DIIs) were net sellers of Rs. 58cr, as per the provisional figures released by the NSE.

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INDIAN MARKET WRAP UP - 27 NOVEMBER 2013

INDIAN BENCHMARKS Closes flat amid volatility.

INDIAN BENCHMARKS closed flat negative, as software services exporters such as Infosys were hit by a strengthening rupee, while broader sentiment remained weak due to recent selling by foreign investors.  Infosys Ltd fell 0.7 percent; Wipro Ltd lost 1.1 percent, while Tata Consultancy Services Ltd   also ended 0.4 percent lower.

Further , Maruti Suzuki India Ltd ended 0.2 percent lower after the company said it will recall 1,492 vehicles. Wockhardt Ltd slumped 8.3 percent after the U.S. Food and Drug Administration imposed an "import alert", effectively a ban, on a domestic plant operated by the Indian generic drug maker                                                              

The crucial resistance for Nifty is now seen at 6125 and above this 6215. Support for the immediate term is now placed at 6030 and next support will be 5970.

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INDIAN MARKET OUTLOOK - 27 NOVEMBER 2013

INDIAN BENCHMARKS open on a flat note on the back of subdued global cues. Cairn India board approves a mega buyback plan, to spend close to a billion dollars to buyback over 8.9 percent stake through open market purchases.

FUTHER, Govt may cut planned expenditure by Rs 80000cr or about 15 percent of the budgeted amount in the current fiscal to contain fiscal deficit within the redline drawn by Finance Minister P Chidambaram.

Trend in FII flows: The FIIs were net sellers of Rs 339cr in the cash segment on Tuesday while the domestic institutional investors (DIIs) were net sellers of Rs. 356cr, as per the provisional figures released by the NSE.

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INDIAN MARKET WRAP UP - 26 NOVEMBER 2013

INDIAN BENCHMARKS fall on profit taking

INDIAN BENCHMARKS fall on profit taking, bank stocks slump .Profit-taking in blue-chips such as ICICI Bank hit Indian shares on Tuesday, reversing some of the previous session's gains on doubts about how quickly the Iranian nuclear accord would translate into higher supplies that pressure oil prices.

Further, Reliance Industries may be allowed to hike rates for its gas from April after it offered financial guarantees to the government to settle any claims against it over a shortfall in its gas output, the petroleum minister said.

                                                                               

The crucial resistance for Nifty is now seen at 6125 and above this 6215. Support for the immediate term is now placed at 6030 and next support will be 5970.

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