Bank Nifty Market Trend for 6-Nov- 2018: CapitalHeight

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CH: OUTLOOK

BANK NIFTY DOWN(25500-26000)

NIFTY-DOWN(10420-10725)

STRATEGY SELL

SGX NIFTY 22

DOW 190

ASAIN MKT MIX

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Stock Market Closing Bell 31-Oct- 2018: CapitalHeight

CH: CLOSING BELL

NIFTY FUTURE UP 151 @ 10380

BANK NIFTY FUTURE UP 235 @ 25148

SENSEX UP 550 @ 34442

INR @ 73.93

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Stock Market Opening Bell 24-Oct- 2018: CapitalHeight

CH: OPENING BELL

NIFTY FUTURE UP 113 @ 10261

BANK NIFTY FUTURE UP 271 @ 25255

SENSEX UP 407 @ 34254

INR @ 73.27

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CapitalHeight:Rupee could spike to 79-80 to the dollar in the next 6 months’

The rupee has been falling vis-à-vis the dollar for quite some time now. In fact, it is the worst-performing Asian currency in 2018, having depreciated over 15 percent since January. Foreign investors have seen their investments in India suffer as a result, because the fall in the currency’s value has wiped out a significant amount of their gains.

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CapitalHeight : Market continues to slide: Four factors that are dragging indices

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The Sensex plummeted 792 points to 34,377 and the Nifty fell 283 points to 10,316.50 on October 5 after crucial RBI policy meet outcome.

Most of the sectoral indices were in the red with BSE Oil & Gas tanking over 8 percent. Nifty IT and BSE Consumer Durables were select few which were trading higher.

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Stock Market Opening Bell 23-Aug- 2018: CapitalHeight.

CH: OPENING BELL

NIFTY FUTURE UP 29 @ 11615

BANK NIFTY FUTURE UP 30 @ 28308

SENSEX UP 126 @ 38409

INR @ 70.05

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Stocks in the news: Cipla, Infosys, Wheels India, Oberoi Realty, Huhtamaki PPL From Capitalheight

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Cipla has received final approval for its abbreviated new drug application for Efavirenz tablets 600mg from the USFDA. It is indicated in combination with other antiretroviral agents for the treatment of human immunodeficiency virus type 1 infection in adults

Infosys expands footprint in france by establishing state-of-the-art digital center of excellence in Marseille

Brigade Enterprises board meeting on June 22 to consider proposal for fund raising by issue of non-convertible debentures

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Pre-Opening Commentary: Asian Markets Trading Mixed

SGX Nifty indicating a flat opening for the Indian markets.

Global markets
US: Stocks showed a lack of direction during trading on Monday before the major averages ended the day modestly lower. The Dow edged down 0.1 % to 22,761.07, the Nasdaq dipped 10.45 points to 6,579 and the S&P 500 slipped 0.2 % to 2,544.73.

Europe closed flat yesterday with FTSE down 0.20%, CAC up 0.11%, DAX up 0.16%.

FII /DII Data: In the cash market today, FII’s sold 475 crores stock whereas DII’s bought 55 crores worth of stock.

In the derivative market, FII’s sold 29 crores of Index futures and bought 881 crores worth of Index options.

In the stock futures segment, FII’s sold 218 crores worth of stock futures and bought 66 crores stock options.

Nifty Highest Open Interest:
Call: 10000 / Put: 9800
Bank Nifty Highest Open interest: (12th Oct 2017 Expiry)
Call: 24600 / Put: 24000
India Vix: 11.39
Securities in Ban Period: IBREALEST, JSWENERGY, JPASSOCIAT, DHFL, BEML, RCOM, RELCAPITAL.

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eClerx Services Stock may Rise as SBI MF adds 2.36% Stake

Shares of eClerx Services stock may rise today as SBI Mutual Fund bought 940,866 shares or 2.36% stake in the company through a bulk deal on the BSE on Monday. As of Sep 30, the fund house held 2.19% stake in the company.

Steadview Capital Mauritius, on the other hand, sold its entire 514,662 shares or 1.29% stake in the company, through a bulk deal on BSE.

On Monday, shares of the company ended 2.5% lower at Rs 1,203.25.

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Asia Markets Open Mixed; Nikkei Down, Kospi And ASX Trade Flat

kopsiAsia markets were mixed on Tuesday, taking cues from the US where a post-election rally appeared to stumble.

Traders also looked ahead to key global events set to take place this week, including a meeting on Wednesday between the world’s largest oil producers, and the release of the US nonfarm payroll report on Friday.

In Japan, the Nikkei 225 opened down 0.41 percent, while the Topix fell 0.34 percent.

Japanese shares were likely pressured by a slightly stronger yen, which traded at 111.94 against the dollar on Tuesday morning in Asia, climbing from levels near 113.00 in the previous week.

Major exporters sensitive to the yen traded mixed. Among automakers, Toyota was down 0.47 percent, Honda was off by 1.05 percent and Mazda fell 1.02 percent. Electronics maker Sharp was down 0.54 percent, while Canon and Nikon climbed 0.16 and 1.27 percent, respectively.

In South Korea, the Kospi was flat at 1,977.69, with shares of electronics giant Samsung up 0.18 percent. The smartphone maker said in a statement on Tuesday it was reviewing if it should transition to a holding company structure.

The announcement comes after US activist hedge fund Elliott Management proposed in October the company split itself into a holding vehicle for ownership purposes and an operating company, according to Reuters.

Samsung also said it will allocate 50 percent of its free cash flow to shareholder returns for 2016 and 2017, and said it would pay a dividend of 28,500 won (USD 24.36) per share in 2016, up 36 percent on-year.

Meanwhile, Australia’s benchmark ASX 200 was flat at 5,469.20.

The Dow Jones industrial average closed 54.24 points, or 0.28 percent, lower at 19,097.90. The S&P 500 index fell 11.63 points, or 0.53 percent, to close at 2,201.72, while the Nasdaq dropped 30.11 points, or 0.56 percent, to end at 5,368.81.

In the currency market, the dollar pulled back against a basket of currencies to last trade at 101.33, after falling to a session low of 100.64 earlier. That was down from levels near 102.00 in the previous week.

The slip in the dollar saw other major currencies trade higher; the Australian dollar was at USD 0.7492, up from levels below USD 0.7400 last week. The euro was at USD 1.0614, climbing from below $1.055, while the pound traded at USD 1.2409.

Treasurys also rose in the US on Monday, with the two-year note yield dropping to 1.107 percent, while the benchmark 10-year yield traded lower at 2.314 percent.

The pull-back across asset classes could suggest market watchers’ enthusiasm for the Trump administration was waning.

But some analysts pointed out that the change in direction was more indicative of short-term market moves, rather than any fundamental reassessment of what Trump’s economic policies might look like in practice.

“We are much more inclined to view the dollar-yen-led decline in the dollar, modest dip in bond yields and softer stocks as more reflective of short-term market positioning,” Ray Attrill, global co-head of foreign exchange strategy at the National Australia Bank, said in a note.

Oil prices gained more than 2 percent during the US session on Monday, ahead of OPEC’ s official meeting Wednesday.

On Sunday, Saudi Arabian energy minister Khalid al-Falih had cast fresh doubts over the cartel’s ability to agree a proposed production cut when he said the oil market, currently suffering from a supply glut, would rebalance in 2017 even without intervention from producers, reported Reuters.

Meanwhile, a Monday meeting between OPEC and non-OPEC producers was called off after Saudi Arabia declined to attend, Reuters added.

US crude futures closed up 2.21 percent at USD 47.08 a barrel on Monday, while global benchmark Brent climbed 2.12 percent to USD 48.24.

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