Friday, 20 January 2017

Nifty holds 8400 amid pressure; Mindtree sinks 2%, Cipla jumps

Benchmark indices continued to reel under selling pressure amid volatility as investors maintained cautious stance ahead of inauguration speech of Donald Trump as US President later today and after disappointing Axis Bank's earnings. 

10:40 am Buzzing: Motherson Sumi Systems shares gained nearly 4 percent intraday after the board approval for acquisition of Finland based truck wire maker by its subsidiary.

"The board of directors of Motherson Sumi, on January 19, has approved a proposal to launch a voluntary, recommended public tender offer for acquisition of outstanding share capital and voting rights of Finland company PKC Group Plc that currently listed on Nasdaq Helsinki stock exchange," the auto ancillary and engineering company said in its filing.

Headquartered in Helsinki, PKC is a global tier 1 supplier of wiring harness and associated components to original equipment manufacturers in the heavy & medium duty commercial vehicles and locomotive segments across North America, Europe, Brazil and China.

10:25 am FII View: Indian markets haven’t completely factored risks such as protectionism in IT sector and earnings which can lead to short-term volatility in the markets, according to BNP Paribas’s management. Besides, consensus earnings estimates for FY17 and FY18 are way off charts, said Manishi Raychaudhuri, Asian Equity Strategist - Equity Cash Asia Pacific at BNP Paribas.

Raychaudhari pegged earnings growth for FY17 in single-digits and for FY18 in low double digits. He told CNBC-TV18 he expects a 7-8 percent EPS growth in FY17 and a 12-14 percent EPS growth in FY18.

Also read - Buy, sell, hold: 3 crucial stocks that analysts are watching out 

10:00 am Market Check 

Benchmark indices continued to reel under selling pressure amid volatility as investors maintained cautious stance ahead of inauguration speech of Donald Trump as US President later today and after disappointing Axis Bank's earnings.

The 30-share BSE Sensex was down 82.39 points at 27226.21 and the 50-share NSE Nifty fell 23.40 points to 8411.70.

Axis Bank tanked nearly 6 percent after reporting lower-than-expected earnings, though slippages were lower compared to analysts' estimates.

Mindtree declined over 2 percent as earnings met analysts' estimates, though operational performance was ahead of expectations.

Infosys, ICICI Bank, Tata Motors, Asian Paints and NTPC were under pressure while HDFC Bank, SBI, ITC, Cipla and Reliance Industries gained.

Asian markets were a mixed bag on Friday after China's latest set of economic data suggest the economy is recovering, even as risk sentiment sours ahead of Donald Trump's inauguration.
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Thursday, 19 January 2017

BSE to delist 36 companies from January 20

The securities of these firms have been under suspension for more than 13 years on account of non-compliance of various clauses of listing regulations. 

Leading stock exchange BSE will delist as many as 36 companies listed on its platform from January 20 as they have remained suspended for more than 13 years.

This is in addition to over 250 firms already delisted by the exchange last year.

The securities of these firms have been under suspension for more than 13 years on account of non-compliance of various clauses of listing regulations.

"Trading-members of the exchange are hereby informed that 36 firms that have remained suspended for more than 13 years would be delisted from the platform of the exchange, with effect from January 20, 2017," BSE said in a circular today.

BSE said the move is pursuant to order of the Delisting Committee of the exchange in accordance with regulations by Securities and Exchange Board of India (Sebi).

As per delisting norms, securities of these 36 companies would cease to be listed and therefore not be available for trading on the platform of the exchange.

Further, the delisted company, its whole-time directors, promoters and group companies shall be debarred from accessing the securities market for a period of 10 years from the date of compulsory delisting.

Besides, the companies would be shifted to BSE's dissemination board for a period of 5 years as directed by Sebi.

BSE is the world's largest bourse in terms of listed entities (5,714) on its platform. Overall, trading in shares of as many as 1,278 companies listed on BSE has been under suspension for seven years or more, as on on date. PTI SSM RSY .
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Wednesday, 18 January 2017

Budget 2017: Mkt to watch out for corporate tax, LTCG changes, says Edelweiss

Strong domestic flows are helping to hold up the market but Budget could be the next big trigger, says Vikas Khemani, President and CEO at Edelweiss Securities in an interview to CNBC-TV18. 

Strong domestic flows are helping to hold up the market but Budget could be the next big trigger, says Vikas Khemani, President and CEO at Edelweiss Securities in an interview to CNBC-TV18.

Foreign outflows, though a cause for concern, are more technical than fundamental, Khemani says.  Since India was on top of most emerging market portfolios so far, it was natural to take the first hit in case of any global uncertainties, he noted, adding, a favourable Budget can reverse the trend.

Khemani does not see any major disappointment from corporate earnings yet. The market is keenly watching changes in corporate and long term capital gains taxation in the Budget and will certainly cheer if these are constructive, he says.

Among sectors, he is positive on select companies in consumer staples, discretionary, private banking sector and BFSI spaces.
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Tuesday, 17 January 2017

Sensex higher, Nifty inches towards 8450; FMCG, banks stocks up

Benchmark indices remained higher amid volatility in morning, with the Nifty inching towards 8450 level on consistent buying in banks, technology and FMCG stocks. 

Benchmark indices remained higher amid volatility in morning, with the Nifty inching towards 8450 level on consistent buying in banks, technology and FMCG stocks.

The 30-share BSE Sensex was up 69.09 points at 27357.26 and the 50-share NSE Nifty gained 22 points at 8434.80 while the broader markets outperformed.

The BSE Midcap and Smallcap indices gained more than 0.6 percent on positive breadth. More than two shares advanced for every share falling on the exchange.

ITC, Asian Paints, TCS, ICICI Bank, Axis Bank, Infosys, HUL and SBI were leading contributors to Sensex's gains, up 0.4-1.5 percent. However, Reliance Industries shares fell 2 percent after December quarter earnings.

Asian markets traded mixed, as investors remained cautious ahead of British Prime Minister Theresa May's speech on Brexit plans due later in the global day, as well as President-elect Donald Trump's inauguration stateside at the end of the week.
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Monday, 16 January 2017

Sensex recovers, Nifty reclaims 8400; Tata Steel, Tata Motors up

Tata Motors, Tata Steel and TCS gained 0.4-1.6 percent after a media report indicated that borrowing costs could fall 20-30bps after appointment of Chandra as Chairman of Tata Sons. 

10:20 am FII View: Pointing out the macro data in the months of November and December may contain demonetisation “one-offs”, Neelkanth Mishra of Credit Suisse said the impact of the currency recall exercise will extend beyond the March quarter. It will be take about 12-18 months to assess the complete impact of demonetisation, he said. TODAY FREE TRAILS

Mishra pegged corporate earnings growth in FY18 at 10-12 percent, while saying the FY17 earnings growth may be hit due to demonetisation.

Sharing his outlook on the IT sector which has seen slowdown in the recent quarters, Mishra said it is possible that IT sector revenues will grow in the next few quarters. If corporate spending in the US increases on account of factors like taxes, Indian IT companies will benefit, he added.

Also read - Buy, sell, hold: 6 stocks you can focus as week kickstarts 

10:00 am Market Check 

Benchmark indices recouped early losses with the Nifty reclaiming 8400 level. HDFC group and Tata group stocks supported the market while FMCG and select IT stocks remained under pressure.

The 30-share BSE Sensex was up 5.30 points at 27243.36 and the 50-share NSE Nifty fell 6.80 points to 8393.55 while the broader markets outperformed benchmarks. The BSE Midcap and Smallcap indices gained 0.3 percent each.

Tata Motors, Tata Steel and TCS gained 0.4-1.6 percent after a media report indicated that borrowing costs could fall 20-30bps after appointment of Chandra as Chairman of Tata Sons.

HDFC Bank, HDFC, L&T, SBI and Lupin rose 0.6-1 percent while Infosys fell further, down more than 1.5 percent followed by Reliance Industries, ITC, ICICI Bank and HUL.
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Friday, 13 January 2017

See Nifty Future open at 8445: Dynamic Levels

Nifty Future is opening at 8445 as per SGX Nifty at 8:50 am IST,almost 30 points above its previous close of 8422, says Dynamic Levels. 

Nifty closed above 8400, Bank Nifty to rally may continue

Indian Market Outlook: Yesterday, Nifty Spot opened gap up by 10 points at 8391 and thereafter continued its bull rally and made a high of 8417. The Index closed at 8407. The Smallcap index showed profit booking after making high of 6266 and closed at 6223, immediate support for the Index is at 6149.

Bank Nifty maintainmed its strength and made a new high of 18966 and closed at 18874. Bank Nifty has newer high in consitently in last 6 trading session, next target for Index is at 19076.

IT sector will be in focus today as IT Major TCS has announced its results yesterday were company registered a jump of 10.9 percent profit in Q3 result.

Nifty Future is opening at 8445 as per SGX Nifty at 8:50 am IST,almost 30 points above its previous close of 8422.

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, 12 January 2017

Resistance for Nifty at 8440-8470: Stewart & Mackertich

According to Stewart & Mackertich, resistance for Nifty at 8440-8470 while crucial support is at 8310-8350. 

Nifty closed with a decent gain of 1.11 percent at 8380.65 just above the long-term downward trending channel resistance placed around 8320. It surged 92 points with the help of banking and metal stocks to end the session with a bullish marubozu candle. Closing above 8320, leading to structural change to the Nifty technical pattern, is a sign of strength.

8440 is the next resistance. On the hourly chart, despite being overbought, Nifty upward momentum continues. 8440 is the next resistance. Down trending channel breakout level around 8320 may now act as the downside major sup-port.

Considering multiple time frames and overall chart pattern that shows Nifty pullback from 7900 level found its way through 8320 mark leading to structural change to the Nifty long-term downtrend.

Next resistance is placed around 8440. Needless to say 8320-8310 zone may now act as the pivotal support. Candle pattern along with position of indicators on the daily chart suggest Nifty positive momentum may continue in coming sessions. 8440 and 8470 are the immediate resistances.

Nifty crucial support is at 8350, 8310 and resistances at 8440 and 8470.

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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