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 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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Nifty Futures Outlook - 19 September 2013

Nifty future gain nearly 1 percent ahead of conclusion of U.S Federal Reserve meeting later in the day. Nifty futures close at 5941 with a high of 5945. Nifty for next trading session would have the resistance of 5980 if it breaks this level than having the next resistance of 6030 and in down side having the support of 5820 if it breaks this level than having the next support of 5865.

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INDIAN MARKET WRAP UP - 18 SEPTEMBER 2013

INDIAN BENCHMARKS ended flat ahead of Fed meet, RBI policy

INDIAN EQUITY BENCHMARK rose nearly 1% after an extremely volatile session to mark their second consecutive day of gains on continued foreign investment inflows while stocks perceived as defensive gained ahead of the conclusion of the U.S. Federal Reserve meeting. All the key sectoral indices gained with realty, banks, FMCG, consumer durables, oil & gas, healthcare indices leading the gains.

Further, Coal India Ltd surged above percent on expectations of positive announcements from its annual shareholders meeting. Dr Reddy’s Laboratories added 3%, extending its previous day’s nearly 4% rally, after the company secured the approval of USFDA to launch injectible medicine azacitidine.

The crucial resistance for Nifty is now seen at 5980 and above this 6030. Support for the immediate term is now placed at 5865 and next support will be 5820.

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Nifty Futures Outlook - 18 September 2013

Nifty future continuous its consolidation phase and ended on a flate note ahead of outcome of two days FOMC meet ending September 18 and RBI policy announcement on Sep 20. Nifty futures close at 5883 with a high of 5888. Nifty for next trading session would have the resistance of 5905 if it breaks this level than having the next resistance of 5950 and in down side having the support of 5845 if it breaks this level than having the next support of 5810.

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INDIAN MARKET WRAP UP - 17 SEPTEMBER 2013

INDIAN BENCHMARKS ended flat ahead of Fed meet, RBI policy

INDIAN EQUITY BENCHMARK ended flat amid a volatile trading session, as investors exercised caution ahead of the two-day FOMC meet and Reserve Bank of India's monetary policy later this week. IT index tracked depreciation in rupee and was the top gainer among the sectoral indices up followed by Metal, Auto and FMCG indices. However, Realty, Power, Bank and Consumer Durables shares ended down.

Further, Dr Reddy's gained 4% after the company said it has received an approval from the US FDA for its Azacitidine for injection 100 mg/vial. unit in Mohali.  Sesa Goa ended 1.8% up, bouncing back nearly 6% from intra-day low ahead of Supreme Court (SC) hearing on Goa mining.

The crucial resistance for Nifty is now seen at 5905 and above this 5950. Support for the immediate term is now placed at 5845 and next support will be 5810.

News to watch:

• Watch out for the RBI policy on 18 SEPT.

• Watch out for the MONITORY POLICY STATEMENT on 20 SEPT. 

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Nifty Futures Outlook - 17 September 2013

Nifty future remains volatile and ended on a flate note on Friday ahead of macro events in the week ahead. Nifty future is likely to remain in range of 5600 to 6000 in this week. Nifty futures close at 5876 with a high of 5908. Nifty for next trading session would have the resistance of 5910 if it breaks this level than having the next resistance of 5955 and in down side having the support of 5820 if it breaks this level than having the next support of 5770.

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INDIAN MARKET WRAP UP - 16 SEPTEMBER 2013

INDIAN BENCHMARKS ended flat ahead of WPI Data.

INDIAN EQUITY BENCHMARK ended flat after rising on a strong note markets but gave up all those gains later as August WPI inflation jumped too 6-month high of 6.1%  in August against 5.79 in July. Sectoral indices FMCG, auto and banks held the market high while IT, realty, healthcare, oil & gas and metal indices dropped.

Further, Ranbaxy lost 30% to touch its lowest level since June 25 at Rs 297 on reports that the US FDA has issued an import alert on the company’s unit in Mohali. UltraTech Cement extends fall by 4% at Rs 1,655, extending nearly 2% fall on Friday, after its board approved acquisition of the cement unit of JCCL for Rs 3,800 crore. 

The crucial resistance for Nifty is now seen at 5905 and above this 5980. Support for the immediate term is now placed at 5810 and next support will be 5770.

News to watch:

• Watch out for the RBI policy on 18 SEPT.

• Watch out for the MONITORY POLICY STATEMENT on 20 SEPT.

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Nifty Futures Outlook - 13 September 2013

Nifty future fall on profit taking after five day’s rally on the back of strong foreign flows. Nifty futures close at 5867 with a high of 5955. Nifty for next trading session would have the resistance of 5955 if it breaks this level than having the next resistance of 5995 and in down side having the support of 5770 if it breaks this level than having the next support of 5825.

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INDIAN MARKET WRAP UP - 12 SEPTEMBER 2013

INDIAN BENCHMARKS edged higher on FIIs inflows.

INDIAN EQUITY BENCHMARK closed the trading session on a lower note amid weakness in rupee against dollar, after gaining nearly 10 percent in a five-day winning streak on the back of strong foreign flows. Mid and small cap stocks performed moderately while Banking, tech, metal and auto stocks stood leading the fall. The market also took cues from IIP and inflation data in the near term for direction.

Further, Financial Technologies has gained around 20% in otherwise weak markets amidst expectations that the group may get some relief from the speculated sale of NK Proteins. IDFC surge 6% after RBI lifted restrictions placed on foreign investors purchasing shares of the company as their shareholding in IDFC fell below the prescribed limit.                                                                                              

The crucial resistance for Nifty is now seen at 5955 and above this 5995. Support for the immediate term is now placed at 5825 and next support will be 5770.

 News to watch:

• Watch out for the IIP and CPI numbers on 12 SEPT.

• Watch out for the RBI policy on 18 SEPT.

• Watch out for the MONITORY POLICY STATEMENT on 20 SEPT.

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Nifty Futures Outlook - 11 September 2013

Nifty future gains nearly 4 percent, Post biggest single day gain since May 2009 after RBI steps which aiding FII flows and Syria threat receding are driving the shares higher. Nifty futures close at 5905 with a high of 5916. Nifty for next trading session would have the resistance of 5925 if it breaks this level than having the next resistance of 5975 and in down side having the support of 5825 if it breaks this level than having the next support of 5770. 

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INDIAN MARKET OUTLOOK - 06 SEPTEMBER 2013

INDIAN BENCHMARKS are likely to extend yesterday’s gains tracking positive global cues. Markets surged yesterday and Rupee staged a smart recovery after the new RBI governor Raghuram Rajan's initial announcements sparked hopes of shoring up an ailing economy and currency.

FUTHER, Sesa Goa shares will move upside. It was the top loser in the nifty yesterday after rallying 50 percent in the last one month. Today, 210 crore shares of Sesa Goa hit the market on the back of the ongoing Sesa Sterlite merger progress. Bhel electronics division here has bagged an order worth Rs 96 crore from NTPC to set up a 15 MW-solar power plant in Uttar Pradesh.

Trend in FII flows: The FIIs were net buyers of Rs 4293cr in the cash segment on Thursday while the domestic institutional investors (DIIs) were net sellers of Rs. 1651cr, as per the provisional figures released by the NSE.

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INDIAN MARKET WRAP UP - 05 SEPTEMBER 2013

INDIAN BENCHMARKS closed on the positive note.

INDIAN EQUITY BENCHMARKS closed on a strong note with clocking in gains of over 2 percent, Nifty gained 144 points, as rupee rallied and shares surged after India's new central bank chief unveiled measures to support the currency, providing a shot of confidence for investors unnerved by the country's worst economic crisis in two decades.

Further, banking stocks rallied up to 15 percent after the Raghuram Rajan has announced slew of reforms that will help the banking sector. Indian IT shares fall as the rupee jumped as much as 2.3 percent as measures announced by the central bank Governor.

                                                                                                

The crucial resistance for Nifty is now seen at 5640 and above this 5725. Support for the immediate term is now placed at 5565 and next support will be 5480.

 

News to watch:

• Watch out for the IIP numbers on 12 SEPT.

• Watch out for the RBI policy on 18 SEPT.

• Watch out for the MONITORY POLICY STATEMENT on 20 SEPT.

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INDIAN MARKET OUTLOOK - 05 SEPTEMBER 2013

INDIAN BENCHMARKS are likely to open higher tracking firm global cues. Investors will also cheer the appointment of Raghuram Rajan as 23rd RBI Governor who has raised hopes of new action plans to revive the economy. New Reserve Bank of India (RBI) chief Raghuram Rajan kicked-off his term with a bang yesterday, announcing a spate of measures to support the embattled rupee and unveiling a raft of steps to liberalize financial markets and the banking sector. The rupee is expected to strengthen today.

FUTHER, ONGC, along with Shell India, is in talks with Nagarjuna Oil Corporation for a strategic stake in Nagarjuna Cuddalore refinery. AGMs of Bharti Airtel, HPCL and Prestige Estates which will be held today.

Trend in FII flows: The FIIs were net buyers of Rs 2800cr in the cash segment on Tuesday while the domestic institutional investors (DIIs) were net sellers of Rs. 1193cr, as per the provisional figures released by the NSE.

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INDIAN MARKET WRAP UP - 04 SEPTEMBER 2013

INDIAN BENCHMARKS ended on a positive note.

INDIAN EQUITY BENCHMARKS ended on a positive note with 50-share Nifty surging nearly 106 points on back of value-buying witnessed in automobile and banking shares as well as investors amid expectations of fresh measures by the central bank to support growth after Raghuram Rajan took over the helm of the Reserve Bank of India replacing D Subbarao.

Further, Shares of pharmaceutical companies are on a roll trading higher by up to 10%.Among recently beaten down blue chip shares, Reliance Industries Ltd gains 3.9 percent while ICICI Bank Ltd is up 4.35 percent.
                                                                                                
The crucial resistance for Nifty is now seen at 5475 and above this 5520. Support for the immediate term is now placed at 5380 and next support will be 5315.


News to watch:
• Watch out for the REAL ESTATE Shares as Central Bank keep norms on Housing Loan Directive.
•  Watch out for the IIP numbers on 12 SEPT.
• Watch out for the RBI policy on 18 SEPT.

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INDIAN MARKET OUTLOOK - 04 SEPTEMBER 2013

INDIAN BENCHMARKS are likely to open weak tracking negative Asian cues as well as Sensex fell nearly 4 percent yesterday, retreating from a 2-1/2 week closing high in the previous session, as blue chip shares slumped as fears of military tensions in the Middle East roiled global markets. Investors are now anxiously waiting for any fresh measures with Raghuram Rajan taking over the reins of RBI as the new governor on September 5.

FUTHER, TCS has bagged a multi-million euro deal from Norwegian firm DNB. SAIL, Essar Steel, JSPL and JSW Steel have raised prices by up to Rs 2,500 per tonne for this month due to sharp increase in input costs.

Trend in FII flows: The FIIs were net buyers of Rs 2065cr in the cash segment on Tuesday while the domestic institutional investors (DIIs) were net sellers of Rs. 804cr, as per the provisional figures released by the NSE.

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INDIAN MARKET WRAP UP - 03 SEPTEMBER 2013

INDIAN BENCHMARKS ended on an extremely weak note as the Rupee Breaches 68.80/$.

INDIAN EQUITY BENCHMARKS ended on an extremely weak note with benchmark indices falling nearly 3.6 percent each after the rupee depreciated closer to its all time low level of 68.80 against the dollar. The 50-share Nifty slumped 209 points to settle at 5,341. The investor sentiment was also upset on reports that the US might strike Bashar Al Asad led regime in Syria for using chemical weapons against the opposition.

Further, Banking shares were under pressure traded lower up to 5 % as the Indian Rupee fall nearby 2 %. TVS Motor fell 5% after Morgan Stanley downgraded the stock to "underweight" from "equal weight" said it could suffer from slowing volumes, rising capacity and low pricing power. 
                                                                                                
The crucial resistance for Nifty is now seen at 5420 and above this 5520. Support for the immediate term is now placed at 5295 and next support will be 5155.


News to watch:
• Watch out for the Rupee movement as Indian Rupee breaches 68/$.
• Watch out for the Foreign institutional investor flows.

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INDIAN MARKET OUTLOOK - 03 SEPTEMBER 2013

INDIAN BENCHMARKS are likely to open positive tracking firm Asian cues. Meanwhile, the Rajya Sabha on Monday approved a $20 billion scheme to distribute subsidized wheat and rice to 800 million people, backing an anti-malnutrition drive that investors fear will mean missing the fiscal deficit target.

FUTHER, Power Grid Corporation- led consortium has bagged a $21 million contract from Ethiopian Electric Power Service Corporation for undertaking its system upgrade. Watch out SBI shares as SBI has acquired additional 23% stake in Indonesian subsidiary Bank State Bank of India, Indonesia (BSBII) for undisclosed amount.

Trend in FII flows: The FIIs were net buyers of Rs 2513cr in the cash segment on Friday while the domestic institutional investors (DIIs) were net sellers of Rs. 983cr, as per the provisional figures released by the NSE.

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INDIAN MARKET WRAP UP - 02 SEPTEMBER 2013

INDIAN BENCHMARKS gains as Nifty Stocks is up by 79 points.

INDIAN EQUITY BENCHMARKS gains as Nifty stocks is up by 79 points on to their highest close in nearly 2-1/2 weeks as some blue chips recovered from recent steep falls. The rupee dropped against the dollar in late trades, the partially convertible rupee was trading at 66.21 per dollar against the Friday’s close of 65.71 against the dollar on the Interbank Foreign Exchange..

Further, ITC jumped after a UBS report said the company had raised prices for some of its cigarette brands. Banks gain on hopes of potential reversal of RBI's liquidity tightening measures. Axis Bank Ltd is up 1.8 percent and ICICI Bank Ltd gains 0.94 percent. 
                                                                                                
The crucial resistance for Nifty is now seen at 5570 and above this 5610. Support for the immediate term is now placed at 5490 and next support will be 5350.


News to watch:
• Watch out for the sales figure of Automobile sector.

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INDIAN MARKET OUTLOOK - 02 SEPTEMBER 2013

INDIAN BENCHMARKS may open marginally higher tracking positive Asian cues. Markets may react to the economic growth data that was announced post market hours on Friday. India's first quarter GDP growth was the slowest in four years. It came in at a lower-than-expected 4.4 percent as the manufacturing and mining sectors contracted. The movement of rupee and foreign fund flows would drive the stock market this week

FUTHER, Watch for OMCs in trade today. For the sixth time in three months, petrol prices have been hiked by Rs 2.35 per litre and diesel by 50 paisa per litre excluding VAT. The focus is likely to now shift to whether the one-time diesel price hike comes through post the monsoon session. India’s pharmaceuticals sector has received FDI of $1 billion, the highest among the top 10 segments, during this year.

Trend in FII flows: The FIIs were net buyers of Rs 6422cr in the cash segment on Friday while the domestic institutional investors (DIIs) were net sellers of Rs. 1520cr, as per the provisional figures released by the NSE.

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