INDIAN MARKET WRAP UP - 31 OCTOBER 2013

INDIAN BENCHMARKS gained in the closing hour.

 

INDIAN EQUITY BENCHMARKS gained in the closing hour with the Nifty topping the 6,300. RBI hiked short-term lending (repo) rate by 0.25 percent, State Bank of India (SBI) today raised fixed deposit rate by 0.2 percent on select maturity mark & scrip rallied on hopes of stabilizing asset quality and valuations.

Further, Union Bank of India reported quarter 2 result & said profit after tax is fell by 62 percent. DLF reported 28 percent fall in its consolidated net profit at Rs 100.05 crore during second quarter of the current fiscal due to lower sales and higher interest and tax outgo.

                                                                                             

The crucial resistance for Nifty is now seen at 6310 and above this 6340. Support for the immediate term is now placed at 6250 and next support will be 6210.

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INDIAN MARKET OUTLOOK - 31 OCTOBER 2013

INDIAN BENCHMARKS opened lower tracking weak global cues as well as on caution ahead of the expiry of October derivatives contracts at the end of the session. Still shares are headed towards their highest monthly close on strong foreign investor flows. Bank of India Ltd gains 3.4 percent, while Bank of Baroda Ltd is up 0.5 percent, ahead of their July-September earnings later in the day. 

FUTHER, Bharti Airtel Ltd gains 2.35 percent, after its September-quarter operating margin grew 32 percent. Infosys Ltd falls 0.3 percent after the company agreed to pay $34 million to end a U.S .investigation

Trend in FII flows: The FIIs were net buyers of Rs 2910cr in the cash segment on Wednesday while the domestic institutional investors (DIIs) were net sellers of Rs. 11457cr, as per the provisional figures released by the NSE.

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INDIAN MARKET WRAP UP - 30 OCTOBER 2013

INDIAN BENCHMARKS gains after hitting its highest intraday level.

INDIAN EQUITY BENCHMARKS gains 0.23 percent after earlier hitting its highest intraday level since November 2010. Shares of Indian telecom operator’s gain after July-September Quarter 2 earnings results as Bharti Airtel Ltd & TATA Communication were up by 5 -10 percent after they posted a consolidated net profit in the September-quarter.

Further, Dr. Reddy's Laboratories Ltd gains 2.5 percent a day ahead of its July-September earnings. J.P. Morgan downgrades Larsen & Toubro Ltd (L&T) to "neutral" from "overweight", saying the current share price adequately discounts near-term positives.

                                                                                    

The crucial resistance for Nifty is now seen at 6270 and above this 6340. Support for the immediate term is now placed at 6200 and next support will be 6150.

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INDIAN MARKET OUTLOOK - 30 OCTOBER 2013

INDIAN BENCHMARKS are likely to open positive tracking firm global cues. Traders have eyed the start of the two-day Federal Reserve meeting later in the session. Bharti Airtel, DLF, Godrej Properties, IDBI Bank, Jindal Steel, LIC Housing Finance and Lupin will unveil the second quarter earnings.

FUTHER, Ranbaxy Laboratories reported a loss of Rs 454.16 crore for the third quarter ended September 30, against a profit of Rs. 750 crore a year earlier. An extended downturn in demand for some of the key steel products made by Tata Steel Europe has led to an announcement of restructuring proposals by the company which could lead to a loss of around 500 jobs.

Trend in FII flows: The FIIs were net buyers of Rs 2838cr in the cash segment on Tuesday while the domestic institutional investors (DIIs) were net sellers of Rs. 1885cr, as per the provisional figures released by the NSE.

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INDIAN MARKET WRAP UP - 29 OCTOBER 2013

INDIAN BENCHMARKS over 2 percent after its 5 days losing streak.

INDIAN EQUITY BENCHMARKS rose over 2 percent after its 5 days losing streak as banking shares were in demand, trading up by 6 percent and removing its entire early morning losses after the Reserve Bank of India reduce the marginal standing facility (MSF) rate by 25 basis points (bps) to 8.75 per cent from 9 per cent. Banks usually tap the MSF rate during acute cash tightness.

Further, Maruti Suzuki India Ltd rose 5.1 percent in pre-open trading after India's biggest carmaker reported July-September net profit tripled from a year earlier. Rate sensitive stocks have seen major buying interest today. ICICI Bank jumps 6 % while Tata Steel, M&M and SBI are other gainers.

                                                                                    

The crucial resistance for Nifty is now seen at 6255 and above this 6335. Support for the immediate term is now placed at 6170 and next support will be 6120.

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INDIAN MARKET OUTLOOK - 29 OCTOBER 2013

INDIAN BENCHMARKS are likely to open marginally higher but further gains may be capped amid profit taking ahead of the RBI's monetary policy review. Rate sensitive shares especially banks will be in focus depending on the decision by the central bank on key policy rates.

FUTHER, Ceat may firm up after the tyre maker posted 20-fold jump in Q2 consolidated net profit due to lower raw material costs and demand from passenger car segment.

Trend in FII flows: The FIIs were net buyers of Rs 2328cr in the cash segment on Monday while the domestic institutional investors (DIIs) were net sellers of Rs. 1360cr, as per the provisional figures released by the NSE.

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INDIAN MARKET WRAP UP - 28 OCTOBER 2013

INDIAN BENCHMARKS fall ahead of RBI policy; banks, consumer shares decline.

INDIAN EQUITY BENCHMARKS falls after earlier rising as much as 0.4 percent, while the broader NSE index is down 0.71 percent. Banking stocks fall on risk, ahead of the central bank's policy review where it is widely expected to raise interest rates by 25 basis points, while U.S. Federal Reserve holds its policy meeting on Oct. 29-30.

Further, FMCG index was the top loser among the sectoral indices, down 2.5% followed by Realty, Metal, Power, and Healthcare indices down 0.8-1.7% each. ITC was down 3.93% after reporting lower than expected revenue and net profit growth for the second quarter ended.

                                                                                                

The crucial resistance for Nifty is now seen at 6175 and above this 6195. Support for the immediate term is now placed at 6070 and next support will be 6030.

News to watch:

Watch out for the RBI Policy Review i.e. 29 October 2013.

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INDIAN MARKET OUTLOOK - 28 OCTOBER 2013

INDIAN BENCHMARKS are likely to open marginally higher on positive cues from Asia. Federal Bank may witness pressure after the bank on clarified that no formal approval has been received from FIPB on foreign investment in the Bank as per reports. Stocks like GAIL India, Essar oil are likely to be under pressure after reported net loss in second quarter earnings.

FUTHER, FMCG major Hindustan Unilever may firm up after the FMCG major beat street expectations recording 9.6 per cent growth in net sales to Rs 6,747.2 crore, while net profit was up 13.2 per cent to Rs 913.8 crore for Jul-Sep quarter.

 

Trend in FII flows: The FIIs were net buyers of Rs 2300cr in the cash segment on Friday while the domestic institutional investors (DIIs) were net sellers of Rs. 1155cr, as per the provisional figures released by the NSE.

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INDIAN MARKET WRAP UP - 18 OCTOBER 2013

INDIAN BENCHMARKS ended higher boosted by banks metals and infra stock.

 

INDIAN EQUITY BENCHMARKS railed to mark its highest level in nearly five months as banking shares are on focus, stocks trading higher by up to 3%, after the rupee appreciated in early trades against the dollar on the back of positive sentiments in the market. Foreign investors extended their buying streak to a tenth consecutive session.

Further, Larsen and Toubro (L&T) is up by 4% at Rs 872, ahead of July-September (Q2) earnings today. CLSA has downgraded Bajaj Auto to "sell" from “underperform" despite better-than-expected July-September results, saying profit margins should weaken in the second half of the fiscal year as product-mix worsens and input cost pressures rise.

                                                                                    

The crucial resistance for Nifty is now seen at 6240 and above this 6321. Support for the immediate term is now placed at 6150 and next support will be 6055.

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INDIAN MARKET OUTLOOK - 18 OCTOBER 2013

INDIAN BENCHMARKS are likely to open higher tracking positive global cues. Bharti Airtel has increased its stake in Wireless Business Services (WBSPL) to 93.45% at an estimated cost of about Rs 875 crore. Gujarat NRE Coking Coal approved Jindal Steel & Power Ltd proposal to acquire the majority stake of 53.62% in the former.

FUTHER, Larsen & Toubro and Petro net LNG are expected to report second quarter earnings today. Oil marketing companies (OMCs) have decided to hold back a petrol price cut of one rupee ahead of elections. They feel that a cushion is needed as a revision will not be possible around elections.

Trend in FII flows: The FIIs were net buyers of Rs 3942cr in the cash segment on Friday while the domestic institutional investors (DIIs) were net sellers of Rs. 1740cr, as per the provisional figures released by the NSE.

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INDIAN MARKET WRAP UP - 11 OCTOBER 2013

INDIAN BENCHMARKS gained ahead of Infosys result.

INDIAN EQUITY BENCHMARK ended over 1% higher, amid firm global cues, led by Infosys after the IT major upped its lower end of dollar revenue growth guidance for the current fiscal. Shares of real estate developers including DLF Ltd and Unitech Ltd gained after the market regulator announced draft rules to allow the establishment of real estate investment trusts in the country.

Further, Coal India has slipped over 4% to on reports that the government plans road show for its propose divestment plan in the company. Tata Motors extends gain on strong JLR retail sales in September. Tata Motors extends gain on strong JLR retail sales in September.

The crucial resistance for Nifty is now seen at 6110 and above this 6145. Support for the immediate term is now placed at 6045 and next support will be 5975. 

News to watch:

1. TCS Q2 results on 15-October-2013

2. Bajaj Finance Q2 results on 15-Oct-2013.

3. HDFC Bank Q2 results on 15-Oct-2013. 

4. Larsen and Toubro's Q2 results on 18-October-2013.

5. M & M Q2 results on 13-Nov-2013.

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INDIAN MARKET OUTLOOK - 11 OCTOBER 2013

INDIAN BENCHMARKS   are likely to open on positive note as all eyes will be on Infosys, as the IT bellwether will kick-start Q2 FY14 earnings season today. The street is expecting the company to up its guidance to the higher end of its earlier forecast of a six to 10 percent revenue growth. The stock saw a pre result rally on Thursday and all eyes today will be on the commentary on the several top level exits this quarter.

FUTHER, While earnings would be the main focus, India's economic data namely industrial output today and inflation prices on Monday are keenly awaited to find more bright spots in the economy after September trade data came in better than expected.

Trend in FII flows: The FIIs were net buyers of Rs 2294cr in the cash segment on Thursday while the domestic institutional investors (DIIs) were net sellers of Rs. 1393cr, as per the provisional figures released by the NSE.

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INDIAN MARKET WRAP UP - 10 OCTOBER 2013

INDIAN BENCHMARKS close near 3-week high ahead of Infosys results.

INDIAN EQUITY BENCHMARKS rose on to their highest close in nearly three weeks, as Tata Motors surged to a record high on unit Jaguar Land Rover's sales while Infosys also edged up ahead of its July-September results. Mining and metal stocks were buzzing in trades today on renewed buying demand. Jindal Steel, Tata Steel and Sesa Sterlite increased between 1-2%.

Further, Mphasis Ltd gained 2.5 percent, tracking gains in parent Hewlett-Packard Co. IT stocks ended green, as rupee continued to trade weak in afternoon trade on dollar demand from importers ahead of the US debt payment deadline on October 17.

                                                                                                

The crucial resistance for Nifty is now seen at 6110 and above this 6175. Support for the immediate term is now placed at 6005 and next support will be 5965.

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INDIAN MARKET OUTLOOK - 10 OCTOBER 2013

INDIAN EQUITY share indices are likely to flat amid mixed global cues. Stocks in Asia rose on hopes that US lawmakers would soon reach an agreement over the budget and end the shutdown.

FUTHER, SBI is likely to see activity on reports that the finance ministry is likely to allow the banking major to raise around Rs 8,000 crore of equity capital either through a QIP or a follow-on issue. Apollo Hospitals may see some action after the company said it has entered into a partnership with global medical technology major Medtronic Inc develop a cost-effective and efficient dialysis system in India.

Trend in FII flows: The FIIs were net buyers of Rs. 2706.65cr in the cash segment while the domestic institutional investors (DIIs) were net sellers of Rs. 1362.61cr, as per the provisional figures released by the NSE.

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INDIAN MARKET WRAP UP - 09 OCTOBER 2013

INDIAN BENCHMARKS gained ahead of trade deficit data

INDIAN EQUITY BENCHMARK extended gains on back of buying witnessed in financials after country’s trade deficit narrowed to a two-and-a-half-year low in September. Meanwhile, software services exporters rose ahead of their earnings results. Domestically, the key sectoral gainers were healthcare, capital goods, realty, oil & gas, power and IT while consumer durable sector declined. 

Further, Infosys Ltd provisionally ended up 2.8 percent ahead of its September-quarter earnings on Friday. Lenders led gainers as the trade deficit data was seen supporting the rupee and thus reducing exchange rate-led inflation pressures and the prospect of repo rate hikes.

The crucial resistance for Nifty is now seen at 6070 and above this 6175. Support for the immediate term is now placed at 5980 and next support will be 5900. 

News to watch:

1. Larsen and Toubro's Q2 results on 18-October-2013.

2. Bajaj Finance Q2 results on 15-Oct-2013.

3. HDFC Bank Q2 results on 15-Oct-2013.

4. Infosys Q2 results on 11-Oct-2013.

5. M & M  Q2 results on 13-Nov-2013.

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INDIAN MARKET OUTLOOK - 09 OCTOBER 2013

INDIAN BENCHMARKS are likely to open lower on amid weak global cues. Country's largest realty firm DLF could see some action after it said that it has completed the sale process of 33MW wind turbines project in Rajasthan to Violet Green Power for Rs 67.44 crore.

FUTHER, State Bank of India could in focus after it reduced the rate on bulk deposits by 50 basis points. SBI has cut rates on seven to 60 days bulk deposits to 8.5 per cent from Thursday. Apollo Tyres may witness selling pressure after US-based Cooper Tire & Rubber Company rejected Apollo Tyres’ demand to cut the proposed $2.5-billion deal size by as much as 25 per cent

Trend in FII flows: The FIIs were net buyers of Rs 2611cr in the cash segment on Friday while the domestic institutional investors (DIIs) were net sellers of Rs. 1160cr, as per the provisional figures released by the NSE.

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INDIAN MARKET WRAP UP - 08 OCTOBER 2013

INDIAN BENCHMARKS ended higher with heavyweights.

INDIAN EQUITY BENCHMARKS ended higher with heavyweights and select rate-sensitive shares leading the gains after liquidity measures announced by the central bank would help boost lending. The Reserve Bank of India late on Monday further eased liquidity by cutting the marginal standing facility (MSF) rate, a key overnight interest rate, by 50 basis points to 9%.

Further, IT and Metal index which closed in the red, down 0.87% and 0.3% respectively, all the other indices closed in the positive territory. From the banking space, ICICI Bank ended higher by 2.3%. However, HDFC Bank, SBI and HDFC ended lower paring the intra-day gains amid profit taking at higher levels.         

                                                                                    

The crucial resistance for Nifty is now seen at 5975 and above this 6025. Support for the immediate term is now placed at 5925 and next support will be 5855.

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INDIAN MARKET OUTLOOK - 08 OCTOBER 2013

INDIAN BENCHMARKS are likely to open marginally higher after a period of consolidation on Monday. Meanwhile, Asian share indices were trading mixed as the partial US federal government shutdown which continued for the second week weighed on investor sentiment. Financial Technologies may see some action after the company said it has received a show-cause notice on October 5 from commodity market regulator FMC regarding its 'fit and proper' status as a shareholder in MCX.

FUTHER, Steel stocks may witness action after most domestic primary steel producers have raised prices of steel products on the back of increased transportation costs due to hike in rail freight charges.

Trend in FII flows: The FIIs were net buyers of Rs 2422cr in the cash segment on Friday while the domestic institutional investors (DIIs) were net sellers of Rs. 1062cr, as per the provisional figures released by the NSE.

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INDIAN MARKET WRAP UP - 07 OCTOBER 2013

INDIAN BENCHMARKS ended flat, amid a volatile trading session.

INDIAN EQUITY BENCHMARKS ended flat for a second straight session as software services exporters rose ahead of their quarterly results although sentiment overall was broadly cautious due to the continued U.S. budget standoff. Outside of some sectors such as the technology services, which are expected to see stronger overseas demand from key markets, analysts worry that weakening economic growth and the rupee volatility will constrain earnings.

Further, Banking stocks slump, ICICI Bank Ltd is down 1.8 percent, while HDFC Bank Ltd falls 1.5 percent. Tata Motors Ltd falls near about one percent on profit taking after touching an all-time high in index.

                                                                                                

The crucial resistance for Nifty is now seen at 5950 and above this 0610. Support for the immediate term is now placed at 5850 and next support will be 5790.

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INDIAN MARKET OUTLOOK - 07 OCTOBER 2013

INDIAN BENCHMARKS are likely to open lower amid weak Asian cues. Stocks in Asia opened lower as the partial US federal government shutdown continues after lawmakers fail to reach a consensus on the budget and healthcare spending bill.

FUTHER, ONGC and Oil India would be in action after the government has approved ONGC Videsh Ltd, the overseas arm of ONGC, and its partner Oil India Ltd acquiring a total of 20% stake in a giant offshore gas field in Mozambique for over $5 billion.

Trend in FII flows: The FIIs were net buyers of Rs 2316cr in the cash segment on Friday while the domestic institutional investors (DIIs) were net sellers of Rs. 1145cr, as per the provisional figures released by the NSE.

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INDIAN MARKET WRAP UP - 04 OCTOBER 2013

INDIAN BENCHMARKS ended flat ahead of HSBC PMI data.

INDIAN EQUITY BENCHMARK ended flat, amid a volatile trading session, as September services PMI which contracted at its steepest pace in four years weighed on investor sentiment. On the sectoral front Realty, Consumer Durables, metals and auto indices traded higher followed by Oil & Gas, Healthcare, FMCG, IT, PSU and banks on the gaining front. Power and Capital Goods were the only laggards.

Further, Tata Communications Ltd rose 4.2 percent after HSBC upgraded the stock to "overweight" from "neutral" citing a potential takeover of unit Neotel. Lupin has moved higher extending its previous day’s 1% gain, after the pharmaceutical company said it has launched the generic version of Allergan Inc's Zymaxid Ophthalmic Solution.

The crucial resistance for Nifty is now seen at 6010 and above this 6060. Support for the immediate term is now placed at 5910 and next support will be 5850. 

News to watch:

• Larsen and Toubro's Q2 results on 18-October-2013.
• Bajaj Finance Q2 results on 15-Oct-2013.
• HDFC Bank Q2 results on 15-Oct-2013.
• Infosys Q2 results on 11-Oct-2013.
• M & M  Q2 results on 13-Nov-2013.

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INDIAN MARKET OUTLOOK - 04 OCTOBER 2013

INDIAN BENCHMARKS are expected to open lower on Friday following negative trend in other Asian markets. Tracking the momentum, the index is expected to retest its crucial psychological support level of 5,900 in trade today. 

FUTHER, Jet Airways may extend gains after the Cabinet Committee on Economic Affairs (CCEA) on Thursday cleared Etihad Airways’ Rs 2,060-crore investment in Jet Airways. OC will also see some action after the Department of Disinvestment has put off overseas road shows to promote the sale of a 10% government stake in Indian Oil Corp (IOC) following stiff opposition from the Petroleum Ministry, which cited poor market conditions.

Trend in FII flows: The FIIs were net buyers of Rs. 3891.02cr in the cash segment while the domestic institutional investors (DIIs) were net sellers of Rs. 1567.65cr, as per the provisional figures released by the NSE.

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INDIAN MARKET WRAP UP - 03 OCTOBER 2013

INDIAN BENCHMARKS gains ahead of positive economic cues.

INDIAN EQUITY BENCHMARK rose more than 2 percent to its highest close in nearly two weeks as software services exporters gained on bets for an improving business outlook in key markets, while banks surged on potential gains from falling bond yields. Indian shares also tracked gains in regional peers, partly boosted by an upbeat survey on China's huge services sector.

Further, Tata Communications Ltd rose 4.2 percent after HSBC upgraded the stock to "overweight" from "neutral" citing a potential takeover of unit Neotel. Hindustan Unilever fell 1.5% adding to previous days 1.3% decline after the parent company warned that a slowdown in its emerging markets accelerated in the 3rd quarter.

The crucial resistance for Nifty is now seen at 6010 and above this 6060. Support for the immediate term is now placed at 5910 and next support will be 5845.

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INDIAN MARKET OUTLOOK - 03 OCTOBER 2013

INDIAN BENCHMARKS are likely to open higher today led by financials but further gains are likely to be capped as profit taking may emerge at higher levels.

FUTHER, Bajaj Auto may see some action after the two-wheeler major on Wednesday reported 2.71 per cent rise in motorcycle sales at 3,23,879 units in September. Tata Communications may see some action amid reports that the company plans to enter into a a partnership with UAE's telecom giant Etisalat to build a multi-service regional network infrastructure accessed from Etisalat'sSmartHub facility in the UAE.

Trend in FII flows: The FIIs were net buyers of Rs. 1728.67cr in the cash segment while the domestic institutional investors (DIIs) were net sellers of Rs. 818.87cr, as per the provisional figures released by the NSE.

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INDIAN MARKET WRAP UP - 01 OCTOBER 2013

INDIAN BENCHMARKS firm up led by rate sensitive.

INDIAN EQUITY BENCHMARK ended in green shrugging off the US federal government shutdown and firmed up in late trades after first quarter current account deficit was in line with expectation and moderate contraction in PMI September manufacturing. Encouraging sales reported by auto companies also boosted sentiment.

Further, Auto shares firmed up on encouraging sales numbers for September. Tata Motors, Mahindra & Mahindra and Maruti Suzuki and Bajaj Auto were trading with firm gains.      Tata Communications surges 6.2 percent after South Africa's Vodacom Group said it was in exclusive talks to buy Tata's unlisted local unit, Neotel in a potential $590 million deal.

The crucial resistance for Nifty is now seen at 5855 and above this 5900. Support for the immediate term is now placed at 5790 and next support will be 5750.

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