Friday, 30 September 2016

Nifty hovers around 8600, Sensex flat; BHEL, SBI, Infosys gain

GAIL, Infosys, Wipro, BHEL and ONGC are top gainers while Adani Ports, Cipla, Bharti AIrtel, Dr Reddy's Labs and HUL are major losers in the Sensex. 

10:20 am Buzzing: Alkem Laboratories shares fell over 8 percent intraday on several observations from the US health regulator for Daman facility.

"....has received the inspection report for manufacturing facility located at Daman, India which contains thirteen 483 observations," the Mumbai-based pharma company in its filing yesterday.

The US Food and Drug Administration had conducted an inspection at the facility from September 20 to September 29, 2016.

The company said it would put together a detailed response with adequate corrective and preventive measures to address the USFDA observations and the same is proposed to be filed within the timeline stipulated by USFDA.

Also read - Number of factors to aid Indian shares: Kotak UK manager 

10:00 am Market Check 

After a firm start of the October Futures and Options (F&O) series, the market has started to wobble. The Sensex is down 27.19 points or 0.1 percent at 27800.34, and the Nifty is down 8.25 points or 0.1 percent at 8583.00. About 1382 shares have advanced, 543 shares declined, and 97 shares are unchanged.

GAIL, Infosys, Wipro, BHEL and ONGC are top gainers while Adani Ports, Cipla, Bharti AIrtel, Dr Reddy's Labs and HUL are major losers in the Sensex.

The Finance Ministry has exuded confidence that currency and stock markets, which tumbled following the surgical strike, will stabilise in the next few days and decisive action against terrorism will spur growth.

"The markets including the currency markets, the stock market they will stabilise in a matter of a very very few days," Economic Affairs Secretary Shaktikanta Das.

Oil prices dropped on profit-taking, after rising 7 percent in the past two sessions, amid doubts that OPEC's first planned output cut in eight years would make a substantial dent in the global crude glut.

Both Brent and NYMEX crude are on course for a weekly gain of around 7 percent.
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Thursday, 29 September 2016

Nifty, Midcap remain higher; ICICI Prudential lists at Rs 329

ICICI Prudential Life Insurance Company saw subdued listing today. The stock has opened at Rs 329 apiece, a 1.5 percent discount to issue price of Rs 334. 

10:37 am Buzzing: Shares of Eros International Media rose by nearly 5 percent after the entertainment firm said it has tied up with UAE's largest film distribution and exhibition network, Phars Film.

Eros International Media yesterday announced its association with Phars Film.

The partnership allows the two companies to jointly co-produce Malayalam films and explore theatrical rights between themselves, the company said in a BSE filing.

The deal licenses Eros to tap distribution of all Malayalam movies produced jointly in India while Phars Film will present the same overseas where it enjoys a dominant market share, it added.

10:15 am Oil Update: Oil futures fell on profit booking after rising nearly 6 percent the day before on a surprise move by OPEC to curb crude output.

The Organization of the Petroleum Exporting Countries agreed to limit its production to a range of 32.5-33.0 million barrels per day (bpd) in talks held on the sidelines of an energy conference in Algeria.

But how much each country will produce is to be decided at the next formal OPEC meeting in November, when an invitation to join cuts could also be extended to non-OPEC countries such as Russia.

Also read - Buy, sell, hold: 3 stocks analysts are bullish on, negative on 1 

10:00 am Market Check 

Equity benchmarks as well as broader markets remained higher on positive global cues and ahead of expiry of September futures & options contracts.

The 30-share BSE Sensex was up 121.69 points at 28414.50 and the 50-share NSE Nifty gained 37.15 points at 8782.30. The market breadth remained strong as about 1369 shares advanced against 503 declining shares on the BSE.

Reliance Industries and ONGC remained strong, rising 1-2 percent whereas ICICI Bank fell nearly a percent after subdued listing of insurance subsidiary.

ITC, HUL, Axis Bank, Bharti Airtel, Wipro and Dr Reddy's Labs were down 0.3-0.8 percent.

ICICI Prudential Life Insurance Company saw subdued listing today. The stock has opened at Rs 329 apiece, a 1.5 percent discount to issue price of Rs 334.
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Wednesday, 28 September 2016

Rupee opens higher at 66.44 per dollar

The rupee will continue to trade with a positive bias on the back of an overall weak outlook for dollar, says Pramit Brahmbhatt of Veracity. 

The Indian rupee opened higher by 4 paise at 66.44 per dollar on Wednesday versus previous close of 66.48.

Pramit Brahmbhatt of Veracity said, "The rupee will continue to trade with a positive bias on the back of an overall weak outlook for dollar and in anticipation of rebound in the domestic equity market."

The 10-year US Treasury note yield hovered near a three-week low of 1.546 percent touched overnight amid speculation that Europe's banking woes could delay the Fed's next interest rate hike.
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Tuesday, 27 September 2016

Sensex, Nifty marginally higher amid consolidation; ICICI falls

TCS, Infosys and Coal India were top gainers on the Sensex, up 1-1.5 percent whereas ICICI Bank and Bharti Airtel fell further. 

10:20 am FII View: Ian Hui, Global Market Strategist, JPMorgan Asset Management talking about the impact of US Presidential pre-elections debate on the global market, said if Hillary Clinton comes into power then markets may take it more favourably than if Donald Trump comes into power because she is expected to carry forward US President Barack Obama’s policies.

The statements per se are unlikely to impact global markets majorly. The debate took place at Hofstra University, New York.

When asked if he thinks emerging markets are likely to see protracted corrections going forward, he said it all depends on the different data points coming out of China – whether China will stabilise, the outlook on commodity prices, and outcome of the OPEC meeting to decide on production freeze, plus the lack of unconventional surprise by the Bank of Japan – all this could drag the markets a little lower.

However, amongst the EMs, the house has a positive outlook on India.

Also read - Use intermittent dips to buy; like Yes Bank: Prabhudas Lilladher 

10:00 am Market Check  INTRADAY STOCK TIPS

Equity benchmarks were marginally higher amid consolidation in morning trade, led by short covering in technology, pharma, auto and select banks stocks.

The BSE Sensex was up 54.16 points at 28348.44 and the NSE Nifty up 19.20 points at 8742.25 while the broader markets outperformed benchmarks on positive breadth.

About two shares advanced for every share declining on the Bombay Stock Exchange.

TCS, Infosys and Coal India were top gainers on the Sensex, up 1-1.5 percent whereas ICICI Bank and Bharti Airtel fell further.
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Monday, 26 September 2016

India among most overvalued Asian markets, says Credit Suisse

Credit Suisse has compared price to book value with return on equities to arrive at the conclusion 

Broking firm Credit Suisse has retained its ‘underweight’ rating on India, terming it as one of the four most expensive markets in Asia. The others are Indonesia, Malaysia and Philippines.

Credit Suisse has compared price to book value with return on equities to arrive at the conclusion.

“Several investors have suggested that using 2017 estimated price earnings growth (PEG) ratios shows India to be the second and Indonesia the third most undervalued market,” says the Credit Suisse note to clients.

“We are not fans of PEG ratios (they remind us of Tech in 2000) as they are usually based on overly optimistic EPS growth forecasts for the year ahead,” the note says.

According to Credit Suisse, the average EPS revision for India over the last four years is negative 10 percentage points.

“If we apply the last four-year average EPS revision for India of -10 percentage points to 2017, then EPS growth is likely to be 8.4 percent,” says the note.

Key equity benchmarks are currently quoting around 17 times one year forward earnings. The forward price earning multiple is usually an indicator of the expected growth in aggregate earnings of the Sensex and Nifty.
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Friday, 23 September 2016

Nifty Futures to open at 8889: Dynamic Levels

According to a report by Dynamic Levels, Nifty Futures is expected to open at 8889 as per SGX Nifty at 8:30 am IST, which is 9 points above its previous close of 8880. 

Indian markets had a strong start to trading yesterday with benchmark Nifty making a high of 8918 after a gap up opening. There was a round of profit booking which took Nifty down to 8865 before it stabilized to trade in a range.

Nifty closed at 8880 with a gain of 73 points for the day. Banking stocks were out performers along with strong participation from PSU banks. Reliance and Maruti made fresh 52 weeks highs. NSE IT stocks came in for some profit booking.

FII and DII are buyers in cash market, the support of 8800 should hold for the remainder of September series.

Nifty Futures is expected to open at 8889 as per SGX Nifty at 8:30 am IST, which is 9 points above its previous close of 8880.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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Thursday, 22 September 2016

BSE, NSE to launch F&O series in IDFC Bank, 2 others from Sep 30

In a circular, NSE said the futures and options contracts on these securities will be available for trading with effect from September 30. 

Leading bourses BSE and NSE will introduce futures and options (F&O) contracts in IDFC Bank   , DCB Bank   and Torrent Power   from next week.

In a circular, NSE said the futures and options contracts on these securities will be available for trading with effect from September 30.

F&O contracts in IDFC Bank, DCB Bank and Torrent Power will be available for trading in the equity derivatives segment effective September 30, BSE said.

Currently, there are over 200 securities available in the F&O segment for trade.

In July 2015, markets regulator Sebi had made a steep hike in the minimum investment size for any equity derivative product to Rs 5 lakh from Rs 2 lakh. Besides, the minimum lot size of an equity derivative contract had been increased to Rs 5 lakh.

A derivative is a security derived from a debt instrument, share, loan, whether secured or unsecured, or any other form of security. It also derives its value from the prices, or index of prices, of underlying securities.
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