Sensex Up 456 Pts, Nifty Posts Biggest 1-Day Gain in Last 6 Months

stock-market-boom-capitalheightSpectacular rally on Friday helped equity benchmarks turned positive for the week as well as for the calendar year. On the first day of December series, the NSE Nifty closed above 8100 level and posted the biggest one-day gain in last six months, driven by in technology, HDFC Group and FMCG stocks.

Value buying after more than 7 percent loss in November due to demonetization & US elections and sharp recovery in rupee could be the reason for positive sentiment.

The 30-share BSE Sensex surged 456.17 points or 1.76 percent to 26316.34 and the 50-share NSE Nifty jumped 148.80 points or 1.87 percent to 8114.30. The broader markets also participated in the rally as the BSE Midcap and Smallcap indices gained 1.3 percent and 2 percent, respectively.

Dipen Shah of Kotak Securities says going ahead, the central bank meetings in India / US and the Italian referendum will be important triggers to watch out for.

Apart from this, markets will also try to gauge the medium term impact of the demonetization scheme of the government, he feels.

The recent fall in markets has made led to sizeable losses in prices of several stock. Hence, Shah says one must identify fundamentally sound stocks and accumulate them with a long term perspective.

Vinod Nair of Geojit BNP Paribas Financial Services says now the market will focus over the possibility of a 50 basis points cut in repo rate by RBI in the next monetary policy.

than three shares advanced for every share falling on the Bombay Stock Exchange.

For the week, the Sensex gained 0.6 percent and the Nifty rose 0.5 percent.

Meanwhile, the rupee recovered sharply against the American currency in sustained bouts of dollar selling from banks and exporters amid rally in equities. It was trading at 68.45, up 27 paise from previous settlement, at the time of writing this article.

All sectoral indices closed in the green today. IT & Pharma gained the most, up 4.75 percent and 3 percent, respectively.

Infosys, which had seen delivery buying worth Rs 700 crore on Thursday, was up 4.8 percent. TCS and Tech Mahindra surged 5-6 percent. Wipro was up 3 percent.

Sun Pharma climbed 4 percent. Bank of America Merrill Lynch has a buy call on the stock with a target price of Rs 790 as it says seven observations for Mohali unit don’t seem incriminating and these are minor in nature but Halol plant inspection outcome will be more critical.

HDFC, HDFC Bank, ITC, Lupin, NTPC, Dr Reddy’s Labs and GAIL surged 2-3.5 percent whereas Bajaj Auto, SBI and Bharti Airtel were the only losers among Sensex 30 stocks, down 0.2-0.7 percent.

In the broader space, Bata India gained 2 percent and Shilpa Medicare surged 9 percent after quarterly earnings. J Kumar Infra was up 9.6 percent on metro orders worth Rs 1,794 crore.

Fortune Financial spiked 4.7 percent on acquisition of additional 16.4 crore shares for Rs 164 crore in ITI Reinsurance. Talwalkars gained 5 percent on demerger of gym business into Talkwalkars Lifestyle.

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Sensex Up Over 150pts, Nifty Above 8000; Tata Motors, Infy Gain

sensex-nse9:55 am Market check: The Sensex is up 179.27 points or 0.7 percent at 26039.44 and the Nifty is up 67.10 points or 0.8 percent at 8032.60. About 1396 shares have advanced, 348 shares declined, and 83 shares are unchanged.

Tata Steel and Infosys are up 3 percent while GAIL, TCS and Asian Paints are gainers while Tata Motors, NTPC, Cipla, Reliance and L&T are losers in the Sensex.

9:45 am New IPO: Jagran Prakashan, the publisher of leading Hindi daily Dainik Jagran, today said its subsidiary Music Broadcast Ltd will raise up to Rs 400 crore through initial public offer.

The board of MBL, which operates the popular Radio City FM stations, in a meeting held today approved the IPO of the company.

“We wish to inform you that the board of directors of Music Broadcast Ltd (MBL) at their meeting dated November 24, 2016 has approved an initial public offer,” the company informed BSE.

“The IPO would comprise of fresh issue aggregating upto Rs 4,000 million (400 crore) and offer for sale by existing shareholders,” it added.

9:30 am FII view: Laurence Balanco of CLSA says tactically, he is looking for a minor pullback to relieve the momentum extremes seen in leading markets (US and Japanese equities, US dollar, US 10-year yield, copper).

While these extremes warn of a short-term reversal, the fact that momentum has confirmed the highs suggests that such a pullback should be short-lived and followed by further gains into Q1 2017, he adds.

He says the Achilles heel to this equity market advance would be a US 10-year yield breaking above 3.05 percent, which is the resistance zone provided by the upper boundary of the 35-year downtrend channel.

It is also close to the level where the rolling 12-month correlation between the S&P 500 and the US 10-year yields switches from positive to negative, Balanco feels.

The market has opened firm as the Sensex is up 70.47 points or 0.3 percent at 25930.64. The Nifty is up 29.95 points or 0.4 percent at 7995.45. About 571 shares have advanced, 147 shares declined, and 32 shares are unchanged.

Bharti, TCS, Infosys, Axis Bank and GAIL are top gainers while HDFC twins, L&T, Cipla and ONGC are losers in the Sensex.

The Indian rupee opened flat at 68.72 per dollar on Friday versus previous close 68.73. The government rushed to allay fears after the rupee drops to an all-time low of 68.86 to the dollar before recovering on perceived RBI intervention.

The commerce minister said, rupee fluctuation has been factored in by exporters.

Bhaskar Panda of HDFC Bank said, “High volatility and unidirectional move is the order of the day in the USD-INR market. A surging dollar index, spectre of US interest rate hike have seen net FII outflow to the tune of USD 4 billion leading to almost 4 percent depreciation of the rupee.”

Among global markets, Asia is trading higher amid a lack of direction from US markets that were shut for the Thanksgiving holiday.  Asian stocks steadied on Friday as the Thanksgiving break in the United States pegged the dollar’s relentless surge that had sucked capital out of most emerging markets.

MSCI’s broadest index of Asia-Pacific shares outside Japan inched up 0.05 percent on Friday. It is poised to end the week 0.8 percent higher, but remains down almost 2 percent from its close on November 8 before Donald Trump’s surprise election to president, whose protectionist campaign promises are widely seen as negative for the region.

Meawhile, European finance ministers will continue Greece bailout talks. The Finance Ministers Of Germany, France, Italy, Spain and Netherlands plan to meet in Berlin today with officials from the international monetary fund to discuss Greece’s debt crisis, the euro zone is aiming for a new agreement on fiscal reform by December 5.

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Live Stock Market Updates – Nifty trades below 7,950 mark

bear-marketThe Sensex slipped below the 26,000 level by falling over 300 points in mid-session trade Monday, pulled down mainly by financial stocks.

The Sensex pared gains after rallying as much as 120 points in morning trade on Monday, led by losses for HDFC, Infosys, TCS and Maruti Suzuki. The domestic market fluctuated between gains and losses as energy producers advanced, while automakers and lenders declined.

The Nifty50 reclaimed the 8,100 mark but immediately turned volatile ahead of expiry of November futures & options contracts due on Thursday.

At 12:46 PM, the S&P BSE Sensex is trading at 25,836, down 314 points, while NSE Nifty is trading at 7,960, down 114 points. It is the first time Nifty dropped below 8,000 since June 2016.

The BSE Mid-cap Index is trading down 2.23% at 11,803, whereas BSE Small-cap Index is trading down 2.69% at 11,550.

Holding ground in the gloomy market were WIPRO, INFY, ONGC while POWERGRID, SBI, HDFC bore the brunt through the first hour of trading.

Only IT index is trading in green, while realty, banking, auto, metal, financial and FMCG were in red.

The INDIA VIX is up 6.13% at 18.8975. Out of 1,885 stocks traded on the NSE, 1,384 declined, 226 advanced and 275 remained unchanged today.

A total of three stocks registered a fresh 52-week high in trade today, while 53 stocks touched a new 52-week low on the NSE.

Rashtriya Chemicals & Fertilizers Ltd fell 3% after the company reported a marginal fall in net profit at Rs 43 crore for the quarter ended September 30. Its net profit stood at Rs 45.6 crore in the year-ago period.

Panacea Biotec rallied 2% after the pharma company announce receipt of Establishment Inspection Report (EIR) from the USFDA indicating the formal closure of the cGMP and Pre­ Approval Inspection conducted by USFDA, at its Oncology Parenteral and Oral Solids Dosage formulation facilities at Malpur, Baddi in Himachal Pradesh.

Cadila Healthcare slipped 1.5%. Zydus Cadila has received the final approval from the USFDA to market for Metronidazole Tablets USP in strengths of 250 mg and 500 mg. The drug which is used to treat infections caused by bacetria will be produced at the group’s formulations manufacturing facility at Baddi.

Mawana Sugars soared 12.6% to Rs 48 on the BSE. The Board of Directors of the Company has agreed to sell one of the operating units of the Company viz. Titawi Sugar Complex (TSC) in Uttar Pradesh as a going concern on an ‘As is Where is What is’ basis to Indian Potash Limited.

Techno Electric & Engineering Company gained 2% after the company has received an approval for sale/disposal of 45 MW Wind Power assets of the company, subject to approval of shareholders and other relevant authorities. The board of director at its meeting held on November 19, 2016 has approved for the same.

HPL Electric & Power hits 10% lower circuit at Rs 91. The company announced that the Company has reduced its debt around Rs 320 crore from IPO proceeds.

Punjab National Bank fell 6.6%. The bank has cut interest rate on fixed deposits by up to 0.25% in line with competition.

India Cements tanked 3%. The company reported a 62% jump in standalone net profit at Rs 62 crore for the quarter ended September 30, 2016. It had posted a net profit of Rs 38.5 crore in the year-ago period.

HDFC and Unitech are trading lower on the BSE. With Unitech defaulting on loan repayment, housing finance major HDFC said it has sold the realty firm’s outstanding loan of Rs 869 crore to JM Financial Asset Reconstruction Company (JMFARC).

NHPC dipped 2%. The Company has posted a net profit of Rs 1,554.7 crore for the quarter ended September 30, 2016 where as the same was at Rs 1215.7 crore for the quarter ended September 30, 2015.

NBCC slumped 3.5%. NBCC reported a consolidated net profit of Rs 69 crore against net profit of Rs 68 crore in the corresponding quarter last year.

Bharat Forge tanked 3.5%. The company announced the acquisition of US-based Walker Forge Tennessee, for a total consideration of USD14mn. Bharat Forge has made this acquisition through its US subsidiary.

Infosys advanced 0.5%. The IT company has invested Rs 145 mn in a start-up UNSILO. The investment is done through Infosys innovation fund.

Alembic Pharmaceutical is trading marginally higher on the BSE. The company has received approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Telmisartan and Amlodipine Tablets.

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Sensex roars with gains, Nifty eyes 8600; SBI, Tata Steel up 8%

stock-marketAfter badly bruised yesterday, the market is picking up pace as investors are actively buying. The Sensex is up 471.03 points or 1.7 percent at 27723.56 and the Nifty is up 158.05 points or 1.8 percent at 8590.05. About 1971 shares have advanced, 310 shares declined, and 84 shares are unchanged.

SBI, Tata Steel, Cipla, ICICI Bank and Adani Ports are top gainers while HDFC Paints, Infosys, HDFC, Wipro and Hero MotoCorp are losers in the Sensex.

Gold held steady early after briefly surging to a six-week high in the previous session, as global markets and the US dollar showed surprise gains in the wake of Republican Donald Trump’s presidential victory. Donald Trump’s victory in the US presidential race throws into question the core assumption in global financial markets that the Federal Reserve will raise interest rates soon and follow with further gradual hikes over coming years.

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Nifty extends losses, Sensex falls 200 pts; RIL, HDFC twins drag

Dalal Street CapitalHeight2:59 pm Market Update: Benchmarks indices fell further with the Sensex down 207.11 points at 27223.17 and the Nifty down 76.40 points at 8408.55.

2:56 pm Earnings: Watch and jewellery maker Titan Company missed analysts’ expectations on topline and bottomline front but margin was ahead of estimates. Profit grew by 23.5 percent year-on-year to Rs 180.7 crore in the quarter ended September 2016.

Revenue during the quarter fell 0.2 percent to Rs 2,675.7 crore on yearly basis, impacted by degrowth in watch business and muted growth in jewellery segment.

EBITDA (earnings before interest, tax, depreciation and amortisation) surged 36.8 percent to Rs 276.3 crore and margin expanded by 280 basis points to 10.3 percent compared with year-ago period.

2:45 pm Interview: At a time when the automotive world is bullish on self driving cars, Maruti Suzuki Chairman R C Bhargava says such autonomous vehicles will not work in India as “nobody obeys any of the driving rules”.

“I would love to see people try and put that technology to use in the Indian driving conditions,” Bhargava said.

At an interaction here late last evening, he was asked about his views on self driving cars and how were they likely to impact the traditional automobile industry.

“I think no technology will work here when nobody obeys any of the driving rules, no nobody obeys any of the systems which are there. How will you devise a technology that will predict customer behaviour, nobody can predict customer behaviour?” he said.

Asked about the impact of taxi aggregators like Ola and Uber on the automobile manufacturers, Bhargava said they were good for the industry.

2:35 pm Budget on Feb 1?: Finance Ministry is gearing up to present the Budget for next fiscal around February 1, advancing the scheduled date by a month so as to complete the entire process by March 31, and preparations for it are “very much under control”, says a top official.

“There are three major changes that we are undertaking for the next year (Budget). First presentation of Budget is advanced by about a month. We expect Budget to be presented around February 1,” Economic Affairs Secretary Shaktikanta Das said in an interview to DD News.

Besides, doing away with the plan and non-plan expenditure and replacing it with the new classification would be revenue and expenditure, he said, adding that the third is merger of Railway Budget with the General Budget.

The pre-Budget meetings for the current year’s for revised expenditure estimates as well as for the next Budget’s estimates have already started, he said.

2:20 pm Europe update: European stocks were lower, following declines overnight on Wall Street as the closeness of the US elections continues to rattle nerves in the market. France’s CAC, Germany’s DAX and Britain’s FTSE were down 0.6-1 percent.

Investors had largely priced in a Hillary Clinton win in the election, but nerves creeped in when news broke last week that the FBI was investigating new emails linked to the Democratic candidate.

Investors globally will also be keeping a keen eye on the October nonfarm payrolls number released Friday which will give another indication on the health of the U.S. economy. It could also create some clarity about whether the Federal Reserve could raise rates later this year.

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Live Stock Market Updates – Nifty trades below 8650

Dalal Street CapitalHeight

The domestic market are trading flat as global investors remained cautious as the acrimonious US presidential election campaign entered its final week. The Bank of Japan on Tuesday held off on expanding stimulus and maintained short-term interest rate target. Market is also watching global cues, with the U.S. Federal Reserve’s meeting set to begin on Tuesday, which could provide clues on a December rate hike.

The Indian equity market opened higher on Tuesday after Chinese manufacturing gauges climbed to two-year highs and Bank of Japan kept monetary rates unchanged.

At 1:36 PM, the S&P BSE Sensex is trading at 28,009 up 78 points, while NSE Nifty is trading at 8,662 up 36 points.

The Nikkei Markit India Manufacturing Purchasing Managers’ Index (PMI) a gauge of manufacturing performance jump to 54.4 in October from 52.1 in September, indicative of a robust improvement in manufacturing business conditions in the country. Manufacturing sector growth in India hit a 22-month high in October, driven by a sharp and accelerated increase in new orders, purchasing activity and output.

The BSE Mid-cap Index is trading up 0.37% at 13,523 whereas BSE Small-cap Index is trading up 0.21% at 13,612.

HDFC, Hero MotoCorp, Tata Steel, Lupin and Adani Ports are among the gainers, whereas ONGC, Axis Bank, Infosys, M&M, Coal India and Sun Pharmaceuticals are losing sheen on BSE.

Some buying activity is seen in metal, telecom, power, utilities and basic materials sectors, while consumer durables, banking,power, IT, teck and FMCG are showing weakness on BSE.

The INDIA VIX is up 0.85% at 15.6225. Out of 1,888 stocks traded on the NSE, 760 declined, 832 advanced and 296 remained unchanged today.

A total of 115 stocks registered a fresh 52-week high in trade today, while 10 stocks touched a new 52-week low on the NSE.

Ashok Leyland Ltd is currently trading at Rs 91.55, up by Rs 0.2 or 0.22% from its previous closing of Rs 91.35 on the BSE. The company posted its total sales in October at 12,533 vehicles versus 9,803 vehicles last year. The company said October M&HCV sales were at 9,574 vehicles versus 7,176 vehicles last year. Its LCV sales stood at 2,959 vehicles compared to 2,627 vehicles last year.

PC Jeweller Ltd is currently trading at Rs 497.5, down by Rs 13.55 or 2.65% from its previous closing of Rs 511.05 on the BSE.

Nihar Info Global Ltd advanced 1.6%. The company has received the Purchase Orders from My Home Constructions, Rain Industries and Pamidi RSB Build Tech in the last ten days.

Eicher Motors jumped 3% after the company reported a 33% increase in total sales in October 2016 at 59,127 units as against 44,522 units in the same month last year. During October 2016, the number of motorcycle units exported, increased by 95% to 748 units from 384 units in October 2015.

Strides Shasun Limited gained 1% after the company announced that it has received approval from the United States Food & Drug Administration (USFDA) for Abacavir Tablets USP, 300 mg.

Maruti Suzuki dropped 0.32% to Rs 5,880 after its sales dipped in the month of October. The company sold 1,33,793 units in October compared to 1,34,209 vehicles in October 2015.

BGR Energy Systems soared 5.3% after the company has been awarded the Balance of Plant (BoP) Contract from TANGEDCO for 1×800 MW North Chennai Thermal Power Project – Stage III. BGR Energy secured this contract in an International  competitive bidding which witnessed stiff competition. The value of the contract is Rs 2,600 crore The contract completion period is 36 months from the date of award.

Allcargo Logistics rose 1% to Rs 191 after the company said its board will meet on 7 November 2016, to consider a proposal for buyback of the equity shares of the company.

Sical Logistics gained 2% to Rs 222.10 after the company securing contract from West Bengal Power Distribution Corporation.

Kitex Garments tanked 10.4% to Rs 458 on BSE after net profit fell 52.4% to Rs 12.92 crore on 20.5% decline in net sales to Rs 95.55 crore in Q2 September 2016 over Q2 September 2015.

Bharti Infratel zoomed 2%. KKR and pension giant Canada Pension Plan Investment Board (CPPIB) are in talks with Bharti Airtel to acquire a significant stake in its listed tower arm Bharti Infratel, as per media reports.

Reliance Industries is trading marginally higher on the BSE. The Directorate General of Hydrocarbons is understood to have computed the penalty payable by Reliance Industries (RIL) for exploiting natural gas that migrated to its KG-D6 block from ONGC’s adjacent asset at upwards of $1 bn, as per media reports.

NBCC inched up 1% after the government will engage state-run construction company NBCC to monetise around 771 acre of prime land held by erstwhile VSNL, a company that the government had sold to the Tata group in 2002 as part of its asset-sale programme.

ONGC slipped 1% to Rs 287.  ONGC Videsh Ltd, the overseas arm of state-owned ONGC, has completed the acquisition of additional 11% interest in Russia’s Vankor oilfield, taking its total stake to 26%.

Karnataka Bank is trading lower by 0.57% on the BSE. The bank informed the BSE that the board of directors at its meeting held on Friday finalised the right issue opening and issue closing dates. The issue opens on November 7, and closes on November 21. Last date for request of split application form is November 15.

Ujaas Energy climbed 13.8%. The company reported a net profit of Rs 9.7 crore for the quarter ended September 30 compared with Rs 3.3 crore reported in the year-ago period.

Heritage Foods slipped 2.4%. The company said it would acquire the dairy business of Reliance Retail through a slump sale. The company has executed a binding agreement for the acquisition. The proposed transaction is subject to regulatory approvals and other conditions and procedures that are customary for similar transactions, Heritage Foods said in a BSE filing.

Avanti Feeds gained 2% after the company reported its consolidated net revenue for Q2 of FY17 was 34% higher YoY at Rs 713 crore. However, reported Ebitda fell by 11% YoY to Rs 56 crore and Ebitda margins shrank 397 bps YoY to 7.9%.

The rupee opened higher by seven paise at 66.72/$ as against the previous close of 66.79/$.

Asian markets opened on a weak note following the US indices which closed marginally in the red after very range bound trade. Uncertainty on the US elections which are due next week coupled with rise in bond yields kept sentiment weak. The only exception continues to be Brazil & Russia where the indices continue to tread higher with more money chasing growth as economies see better times ahead. Mutual Funds pumped in net Rs. 8,106 crore, foreign funds pulled out more than Rs. 10,000 crore in October; a bulk of the withdrawals was in debt.

The dollar has weakened. China’s manufacturing sector saw its fastest pace of expansion in recent years as Purchasing Managers’ Index (PMI) moved higher to 51.2 in October.

Crude oil prices, which were subdued for weeks rose marginally on expectations of some consensus among OPEC members in managing production. The email saga may be haunting Clinton but polls suggest she is still ahead in the race for US President. The Bank of Japan maintained status quo on rates. Fed outcome tomorrow will be eyed though nothing much is expected ahead of US presidential elections.

India’s core sectors grew 5% in September driven by strong growth in the steel and petroleum products sectors. The growth in the Index of Eight Core Industries is stronger than the 3.2% rise in August.

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Top 15 stocks in focus today: Maruti Suzuki, Sun Pharma, Hero MotoCorp

Top Stocks For TodayTech Mahindra: The IT company will announce its Q2 numbers today.

Suzlon: Suzlon group has entered into a joint venture with Ostro Energy for the development and construction of a 50-MW solar project in Telangana.

Navneet Education: Navneet Education signs an agreement to acquire Britannica’s Indian curriculum business for Rs 0.88 bn. This move will help expand Navneet’s range of curricular offerings in the Indian school market.

ONGC: The company will announce its Q2 numbers today. ONGC by deploying a record number of rigs, including one from China, has embarked on an aggressive road-map to explore more natural gas in the northeastern state of Tripura, bordering Bangladesh.

Maruti Suzuki: The auto company will announce its Q2 numbers today.

Dr Reddy’s Laboratories: Dr Reddy’s Lab has entered into a strategic collaboration with Gland Pharma to market and distribute a diverse portfolio of eight injectable Abbreviated New Drug Applications (ANDAs), or alternatively called as generic drug approvals.

Sun Pharmaceutical: Sun Pharma will acquire Ocular Technologies, Sarl (OTS) of Auven Therapeutics, an international private equity company focused on therapeutic drugs.

Gulf Oil Lubricants, Bajaj Auto: Gulf Oil Lubricants has entered into a tie-up with Bajaj Auto Limited to manufacture and supply lubricants.

Bharti Airtel: Bharti Airtel, India’s largest telecommunications services provider, launched an affordable 10 day validity pack for International Roaming.

Hindustan Unilever Ltd: The company has posted a net profit of Rs 1096 crore for the quarter ended September 30, 2016 as compared to Rs 982 crore for the quarter ended September 30, 2015.

Hero MotoCorp Ltd: The company has posted a net profit of Rs 1,004 crore for the quarter ended September 30, 2016 as compared to Rs 786 crore for the quarter ended September 30, 2015.

JK Lakshmi Cement: The company has posted a net profit of Rs 25 crore for the quarter ended September 30, 2016 as compared to net loss of Rs 8.4 crore for the quarter ended September 30, 2015.

Cadila Healthcare: The pharma company posted a net profit after taxes, Minority Interest & Share of Profit/Loss of Associates of Rs 338 crore for the quarter ended September 30, 2016 as compared to Rs 475 crore for the quarter ended September 30, 2015.

HDFC: The company has posted a net profit after tax of Rs 1,827 crore for the quarter ended September 30, 2016 as compared to Rs 1,604.5 crore for the quarter ended September 30, 2015.

JSW Energy: The company posted a net profit after taxes, minority interest and share of profit of associates of Rs 217 crore for the quarter ended September 30, 2016 where as the same was at Rs 534 crore for the quarter ended September 30, 2015.

Ajanta Pharma Ltd: The company has posted a net profit after tax, minority interest and share of profit of associates of Rs 131 crore for the quarter ended September 30, 2016 as compared to Rs 103 crore for the quarter ended September 30, 2015.

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