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 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- 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 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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INDIAN MARKET OUTLOOK - 26 NOVEMBER 2013

INDIAN BENCHMARKS likely to open flat to negative on mixed global cues. The Bharti Airtel stock has lost nine per cent since the start of November on concerns of dollar-denominated debt and slow growth in Africa business. 

FUTHER, Oil prices recovered on Tuesday after the previous session's slide as traders questioned how quickly the Iranian nuclear accord could translate into higher supplies.  Shares in India’s IDBI Bank Ltd fell as much as 2 percent on Tuesday after ratings agency Standard and Poor's downgraded the lender's rating to below investment grade citing expectations for weaker asset quality.

Trend in FII flows: The FIIs were net buyers of Rs 837cr in the cash segment on Monday while the domestic institutional investors (DIIs) were net sellers of Rs. 792cr, as per the provisional figures released by the NSE.

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INDIAN MARKET WRAP UP - 25 NOVEMBER 2013

INDIAN BENCHMARKS marks a relief rally today

INDIAN BENCHMARKS ended in relief rally today, the market staged smart performance on first day of the week with the Sensex rising more than 400 points in intraday trade. The rally was on the hopes that fall in crude oil prices may ease current account deficit (by reducing oil import cost) and inflation going ahead.

Further, Banks and capital goods were the stars today with the BSE Bank and Capital Goods indices rising nearly 4 percent followed by FMCG and Auto with 2 percent gains. Brent crude oil prices fell 2 percent. It is a positive sign for the Indian economy that relies heavily on Iran for its crude oil needs.

                                                                                    

The crucial resistance for Nifty is now seen at 6070 and above this 6125. Support for the immediate term is now placed at 5970 and next support will be 5875.

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INDIAN MARKET OUTLOOK - 25 NOVEMBER 2013

INDIAN BENCHMARKS opened higher aimed firm global cues. India's Axis Bank Ltd rose more than 2 percent on Monday after BSE Ltd said it will include the lender in its benchmark BSE index. Axis will replace Jindal Steel And Power Ltd in the index, according to its statement late on Friday.

FUTHER, India's state-run oil marketing companies gain after Brent crude drops more than $2 a barrel on Monday as supply fears ease following a breakthrough nuclear deal between world powers and Iran over the weekend. Indian Oil Corp gain 2 percent, Hindustan Petroleum Corp surges 2.8 percent, while Bharat Petroleum Corp is up 2.5 percent in pre-open trading.

Trend in FII flows: The FIIs were net buyers of Rs 1864cr in the cash segment on Friday while the domestic institutional investors (DIIs) were net sellers of Rs. 958cr, as per the provisional figures released by the NSE.

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INDIAN MARKET WRAP UP - 22 NOVEMBER 2013

INDIAN BENCHMARKS closed flat giving up earlier gains to mark their third consecutive week of losses.

INDIAN EQUITY BENCHMARKS closed flat giving up earlier gains to mark their third consecutive week of losses, as concerns grow after data showed foreign investors have started cutting positions. Foreign institutional investors (FIIs) sold shares worth 598 million rupees ($9.5 million) on Thursday to snap a 32-day buying streak totaling 238.84 billion rupees, exchange and regulatory data show. 

Further, Fiem Industries rallied 18.8% to Rs 268.80, after reporting a strong 45% year on year (yoy) jump in net profit at Rs 9.08 for the quarter ended September 30, 2013 (Q2). Gujarat Gas Company closed at 290.00, down almost 4 percent on the National Stock Exchange (NSE) after turning ex-dividend today.

The crucial resistance for Nifty is now seen at 6070 and above this 6125. Support for the immediate term is now placed at 5970 and next support will be 5875.

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INDIAN MARKET OUTLOOK - 22 NOVEMBER 2013

INDIAN BENCHMARKS opened higher aimed firm global cues, with financials and telecom shares leading the gains. Cairn India has rallied nearly 4% to Rs 329 after the oil exploration and production firm announced buyback of its own equity shares from the public shareholders. ONGC was up 1.4% on reports that its overseas arm ONGC Videsh signed a memorandum of understanding PetroVietnam (PVN) to promote the joint cooperation in hydrocarbon sector in Vietnam, India and other countries.

FUTHER, Bharti Airtel was up 2% as the Empowered Group of Ministers on telecom, headed by Finance minister, scheduled to meet today, is likely to discuss the next course of action of the upcoming spectrum auction that is expected next year.

Trend in FII flows: The FIIs were net buyers of Rs 2445cr in the cash segment on Wednesday while the domestic institutional investors (DIIs) were net sellers of Rs. 1274cr, as per the provisional figures released by the NSE.

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INDIAN MARKET WRAP UP - 21 NOVEMBER 2013

INDIAN BENCHMARKS marks biggest single-day fall in nearly 2 months.

INDIAN EQUITY ended in red marking its biggest single-day fall in nearly two months, as blue-chip shares slumped for a second consecutive day on worries the pace of foreign investor buying is slowing down. Tata Steel slump after HSBC downgrade its grade to “underweight” following a sharp run-up in its stock prices since the recent lows.

Further, banking shares continued to remain under pressure falling by up to 5% for the second consecutive day, on fears that sooner-than-expected tapering by the US Fed.  Bombay Dyeing & Manufacturing Co Ltd rise after the High Court approved the company's request to hand over land to housing regulators in only one area of Mumbai.

                                                                                    

The crucial resistance for Nifty is now seen at 6070 and above this 6125. Support for the immediate term is now placed at 5970 and next support will be 5875.

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INDIAN MARKET OUTLOOK - 21 NOVEMBER 2013

INDIAN BENCHMARKS opened lower tracking weakness in Asia, financials and index heavyweights leading the decline. Gail India would see some action on plans to enter LNG business and acquiring upstream assets in Tanzania. Among the index heavyweights Reliance Ind was down 1% on reports that the company has been fined $792 million for producing less than natural gas from its eastern offshore.

FUTHER, Shares of Future Retail fell 4 percent as the National Stock Exchange decided to remove the stock from its F&O segment. Jet Airways will be in action after its board approved sale of the Jet Privilege Frequent Flyer Programme business of the company to its arm Jet Privilege Pvt Ltd.

Trend in FII flows: The FIIs were net buyers of Rs 2626cr in the cash segment on Wednesday while the domestic institutional investors (DIIs) were net sellers of Rs. 994cr, as per the provisional figures released by the NSE.

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INDIAN MARKET WRAP UP - 20 NOVEMBER 2013

INDIAN BENCHMARKS records highest single-day loss in 7-weeks.

INDIAN EQUITY ended sharply lower after investors booked profits after gains in the previous three sessions with index heavyweights and private banks leading the decline. Companies engaged in online retail portals and e-commerce business such as Just Dial and Info Edge (India) rallied 4-15% in an otherwise subdued market after private equity investors recently infused funds in these companies.

Further, Ceat has rallied 9%, after reporting a strong set of numbers for the quarter ended September 30 and higher earnings prospects on the back of lower raw material prices. Adani Ports shares gains after domestic rating agency ICRA upgraded its long-term debt rating to "BBB-plus" from "BBB," citing a "strong" ramp-up in cargo volumes this fiscal year.            

                                                                                    

The crucial resistance for Nifty is now seen at 6160 and above this 6215. Support for the immediate term is now placed at 6040 and next support will be 5970.

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