INDIAN EQUITY MARKET OUTLOOK- 1 June 2016

INDIAN BENCHMARKS Strong start seen for Sensex, Nifty on upbeat Q4 GDP data

The Indian shares are likely to see a strong start as the global cues look supportive with SGX Nifty trading 19.50 points higher. Indian equity benchmarks are likely to witness a bullish opening on Wednesday as investors cheer the robust fourth quarter GDP data which showed that Asia’s third biggest economy accelerated last quarter driven by strengthening consumption, bolstering risk taking appetite.

The country’s economy grew by 7.9 per cent in the March 2016 quarter, compared to 7.2 per cent in Q3 FY 2015-16. Gains in the CNX Nifty Index Futures for June delivery which advanced by 0.20 per cent or 16.5 points at 8,205 at 10:37 AM Singapore time also signal that Dalal Street may open higher today.

The focus today will be on Indian manufacturing PMI which may offer further cues over the health of the world’s fastest growing economy. In April, the country’s manufacturing index fell to 50.5 in April from eight-month high of 52.4 in March, but remained above the neutral 50-mark.

Snapping a five-day winning streak, the 30-share Sensex on Tuesday declined 57.64 points or by 0.22 per cent to end at 26,667.96 as investors booked profits while uncertainty over US rate outlook also weighed on sentiment.

Trend in FII flows:The FIIs were net  sellers of  Rs -114.52 Cr in the cash segment on Tuesday while the DIIs were net buyers of  Rs 60.28 Cr, as per the provisional figures.

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INDIAN BENCHMARKS Bullish start seen on Dalal Street

The Indian shares are likely to see a strong start as the global cues look supportive with SGX Nifty trading 21.50 points higher

Indian Indices:

Indian equity benchmarks are likely to witness a gap up opening on Tuesday tracking a positive trend across markets in Asia as investors continued to assess the prospects of a US interest rate hike this summer.

Gains in the CNX Nifty Index Futures for June delivery which advanced by 0.21 per cent or 17.5 points at 8,212.5 at 10:35 AM Singapore time also signal that Dalal Street may open higher today.

Shares of Tata Motors may see some buying momentum as the company in aftermarket hours on Monday said that its consolidated net profit for the March 2016 ended quarter tripled to Rs5,177 crore led by strong sales from its Jaguar Land Rover business in the UK, Europe, North America and China.

Global Markets:

Asian stocks were trading higher today as traders remained focused on US interest rate outlook.

China’s Shanghai Composite jumped over 2 per cent led by gains in financial and commodity companies, Hang Seng rose while Japan’s Nikkei 225 advanced as a revival in industrial output eased concerns over the world’s third biggest economy.

Japanese industrial production climbed 0.3 per cent in April 2016 from the previous month, compared to an expected 1.5 per cent drop.

US markets were closed on Monday due to the Memorial Day holiday.

Major Headlines of the day:

Sun Pharma: Board To Mull Share Buyback On June 23

S&P, Fitch downgrade Rolta

TRAI issues pre consultation paper on net neutrality

Trend in FII flows: The FIIs were net  sellers of  Rs -355.54 Cr in the cash segment on Monday while the DIIs were net buyers of  Rs 211.09 Cr, as per the provisional figures.

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INDIAN EQUITY MARKET OUTLOOK-30 MAY 2016

INDIAN BENCHMARKS Another strong start set to cheer Dalal Street

The Indian shares are likely to see a strong start as the global cues look supportive with SGX Nifty trading 51.50 points higher.

Indian Indices:

Indian equity benchmarks are likely to witness a gap up opening on Monday tracking a mostly positive trend across markets in Asia amid growing optimism that the US economy is in strong shape to withstand the effect of higher interest rates, bolstering risk taking appetite.

While US economic growth in the first quarter was revised up to 0.8 per cent annualized pace from 0.5 per cent reported earlier, Fed Chair Janet Yellen said that an improving American economy is likely to pave the way for a hike in borrowing costs in the coming months.

Global Markets:

Most Asian stocks advanced on speculation that the world’s biggest economy is strong enough to handle higher borrowing costs.

Shanghai Composite fell as metal and technology shares retreated while a slowdown in Chinese industrial profit growth to 4.2 per cent, year on year, in April 2016 from 11.1 per cent in March 2016, added to the worries over the world’s second biggest economy.

Hang Seng rose and Japan’s Nikkei 225 jumped as a weaker yen bolstered the appeal of exporter stocks.

Wall Street marked a bullish finish on Friday with benchmark S&P 500 scoring its biggest weekly gain since March as Yellen said that improvement in the US economy warranted a rate hike as early as this summer.

European shares were steady on Friday, propped up by the Swiss stock market and pharmaceuticals companies after drugmaker Roche climbed on positive results for one of its products.

Major Headlines of the day:

• Sun Pharma gets US subpoena over generic drugs pricing 
• Tech Mahindra to buy out UK's Target TOPCO Ltd for GBP 112mn 
• Bajaj Auto eyes 25% market share in domestic motorcycle industry.

Trend in FII flows:   The FIIs were net  sellers of  Rs -479.89 Cr in the cash segment on Friday  while the DIIs were net buyers of  Rs 69.34 Cr, as per the provisional figures.

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Nifty eyes 8150, Sensex firm; Sun Pharma soars 4%, ITC down

Equity benchmarks continued to see buying interest on first day of June series. The Nifty is inching towards 8150 level, up 55.65 points or 0.69 percent at 8125.30.

The Sensex rose 168.30 points or 0.64 percent to 26534.98, led by pharma, banks and technology stocks. The broader markets also participated in rally with the BSE Midcap and Smallcap indices rising 0.7 percent each. The market breadth remained strong as about two shares advanced for every share declining on Bombay Stock Exchange.

Sun Pharma surged 4 percent after Taro earnings. Its subsidiary's profit declined 24.5 percent but operational performance was strong due to a 16.4 percent fall in R&D cost. Operating margin expanded by 400 basis points at 69 percent YoY.

ITC, Tata Motors, L&T and NTPC were marginally down on profit booking.

The Indian rupee extended gains. The currency has opened at 67.02 a dollar, up 15 paise compared to previous day's closing value of 67.17 a dollar. The USD-INR pair after briefly trading above 67.50 per dollar has moved back into the 66.50-67.50 range tracking global dollar weakness and positive equities.

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Nifty eyes 8000 on expiry day, Sensex strong; Cap Goods up 6%

The market continues to rise on May Futures & Options expiry day with support from infra, auto and bank stocks. The Sensex is up 166.04 points or 0.6 percent at 26047.21, and the Nifty up 42.55 points or 0.5 percent at 7977.45. About 1054 shares have advanced, 633 shares declined, and 84 shares are unchanged.

L&T is still up 10 percent while BHEL, ONGC and Bajaj Auto are other gainers in the Sensex. NTPC, Sun Pharma, SBI, Wipro and Cipla are losers in the Sensex. Capital Goods index is up 6 percent.

The Indian rupee has witnessed a moderate volatility so far this year and its movement towards Rs 68-69 during the year looks likely, it said. The volatility (on annualised monthly basis) has been really high for some of the currencies such as those of Argentina, Russia, South Africa, Brazil, Australia and Mexico.

Major Headlines of the day:

Bajaj Auto net up on bike sales growth

Ashok Leyland profit hits a speed bump

L&T profit rises 19%, beats Street estimates

Trend in FII flows:The FIIs were net  sellers of  Rs -495.08 Cr in the cash segment on Wednesday while the DIIs were net buyers of  Rs 337.25 Cr, as per the provisional figures.

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Sensex, Nifty climb over 1%; ICICI Bank leads, Cipla tanks 7%

Equity benchmarks extended rally in morning trade, rising more than 1 percent driven by positive global cues after strong US housing data. Banking & financials, technology, auto and FMCG stocks lead.

The 30-share BSE Sensex surged 318.23 points or 1.26 percent to 25623.70 and the 50-share NSE Nifty rallied 104.55 points or 1.35 percent to 7853.40 while the broader markets underperformed, rising over 0.7 percent.

Cipla plunged 7 percent after disappointing set of earnings. Net profit in Q4 dropped 68.8 percent to Rs 80.9 crore while revenue increased only 5.6 percent to Rs 3,266.5 crore compared to year-ago period.

ICICI Bank surged 2.5 percent followed by Infosys, HDFC Bank, HDFC, TCS, Asian Paints, Tata Motors, Axis Bank and L&T with 1-2 percent upside.

Asia markets traded higher, with several major indexes advancing more than 1 percent each, after encouraging reports on the housing market stateside propelled gains in US stocks.

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INDIAN EQUITY MARKET OUTLOOK-24 MAY 2016

INDIAN BENCHMARKS Weak opening seen for Markets on global sell-off

The key domestic equity benchmarks are likely to open on a negative note on Tuesday tracking a bearish trend in markets across Asia and a weak finish at Wall Street overnight as traders across the globe brace for a potential US Fed interest rate hike next month, souring risk taking appetite. SGX Nifty is trading 6.00 points lower.

Volatility may remain high at the domestic bourses as traders roll over their positions ahead of the May futures & options (F&O) expiry on Thursday.

Indian shares edged up on Monday as ITC rallied after posting stronger-than-expected March-quarter operating earnings, but broader sentiment was muted ahead of a deluge of corporate results and the expiry of derivative contracts this week. The S&P BSE Sensex and CNX Nifty fell 0.28%-0.24% each today.

Global Markets:

Asian shares were nearly flat in early trading on Tuesday, while the dollar rebounded from steep losses against the yen in the previous session.

US stocks finished lower Monday, giving up early gains as the prospect that interest rates might rise as soon as next month weighed on utilities shares.

The Greek bourse outperformed weaker European stock markets on Monday after Athens agreed a series of reforms that should pave the way for an agreement on bailout loans and debt relief talks.

Major Headlines of the day:

VRL Logistics to start regional airline
Tata Power Q4 net doubles to Rs360 cr.
Torrent Pharma Q4 PAT up 175% to Rs375 cr.

Trend in FII flows:   The FIIs were net  sellers of  Rs -65.60 Cr in the cash segment on Monday while the DIIs were net buyers of  Rs 167.77 Cr, as per the provisional figures.

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INDIAN EQUITY MARKET OUTLOOK- 23 May 2016

INDIAN BENCHMARKS Markets set for positive opening; Asian markets open mixed.

The key domestic equity benchmarks are likely to open on a positive note on Monday even amidst a mixed trend in markets across Asia as investors across the globe await further cues over the timing of the next US Federal Reserve interest rate hike.. SGX Nifty is trading 25.50 points higher.

Indian shares fell for a third consecutive session on Friday to post a weekly loss, tracking weak global markets as caution prevailed about the possibility of an interest rate hike by the U.S. Federal Reserve as early as June. The S&P BSE Sensex and CNX Nifty fell 0.39%-0.43% each today.

Global Markets:

Asian shares rose on Monday after a solid session on Wall Street, while the dollar moved away from recent highs though remained supported as investors bet that the U.S. Federal Reserve was on track to raise rates sooner rather than later.

US stocks closed higher Friday, with tech stocks leading. The Dow Jones industrial average failed to recover gains for the week after stocks fell amid renewed concerns of a rate hike sooner rather than later.

European stocks closed higher on Friday, as Wall Street rose after falling earlier in the week on renewed concerns the U.S. Federal Reserve would raise interest rates in the near-term..

Major Headlines of the day:

GMR to invest Rs471 cr to set up LNG terminal on east coast

SpiceJet plans to list its securities on NSE

IOB to issue over 90 mn equity shares, raise Rs261 cr

RCom, Aircel merger talks extended again by 30 days

Trend in FII flows:The FIIs were net  sellers of  Rs -743.86 Cr in the cash segment on Friday while the DIIs were net buyers of  Rs 597.49 Cr, as per the provisional figures.

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Nifty hovers around 7800, Sensex in green; Lupin down 6%

The market is very volatile as the Sensex is up 51.65 points or 0.2 percent at 25451.37, and the Nifty up 11.25 points or 0.1 percent at 7794.65. About 826 shares have advanced, 712 shares declined, and 113 shares are unchanged.

Lupin is down 6 percent while Cipla and Bharti fall 1 percent.

Sun Pharma, ONGC, ITC, BHEL and Axis Bank are top gainers while Lupin, Maruti, Infosys and Hero MotoCorp are losers in the Sensex.

The Indian rupee opened marginally lower by 7 paise at 67.43 per dollar against previous close of 67.36.

"The market continues to digest hawkish Fed Minutes with dollar gaining against all major and EM currencies and dollar Index touching 95.50."

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Sensex, Nifty fall; Midcap outperforms, Parag Milk jumps 13%

Equity benchmarks continued to see selling pressure as assembly elections counting started showing results. BJP is likely to get majority in Assam while Congress is seen losing in all five states.

The 30-share BSE Sensex fell 103.70 points to 25600.91 and the 50-share NSE Nifty declined 31.45 points to 7838.70. The market breadth was marginally positive as about 889 shares advanced against 712 declining shares on Bombay Stock Exchange.

ITC, HDFC, HDFC Bank, Asian Paints, Axis Bank, ICICI Bank, SBI and TCS were down 0.3-1.6 percent while Tata Motors, Lupin and Tata Steel gained 1-2 percent.

Major Headlines of the day:

Glenmark gets USFDA nod for rufinamide

Castrol India promoter divests 7% stake viz 34.62 million shares

Indian Hotels puts Taj Boston on block to cut debt

Trend in FII flows:The FIIs were net  sellers of  Rs -250.70 Cr in the cash segment on Wednesday  while the DIIs were net buyers of  Rs 239.91 Cr, as per the provisional figures.

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Sensex, Nifty under pressure; Maruti, Hero, Tata Motors down

The market remained under pressure in morning trade with the Sensex falling more than 150 points, dragged by private banks, FMCG, auto and technology stocks. Most Asian markets were under pressure with the Hang Seng and Shanghai losing 1.7 percent each.

The 30-share BSE Sensex declined 179.63 points to 25593.98 and the 50-share NSE Nifty fell 53.15 points to 7837.60. The market breadth was also negative as aabout 959 shares declined against 711 advancing shares on Bombay Stock Exchange.

HDFC Bank, Infosys, ICICI Bank, ITC, Tata Motors, Asian Paints, M&M and Axis Bank were down around 1 percent while ONGC and SBI outperformed.

The Indian rupee opened at 2 months low at 66.95 per dollar. It has opened lower by 8 paise against previous close of 66.87. Bansi Madhavani of India Ratings said, "An uptick in US retail inflation along with firming up of oil prices have rekindled rate hike fears across markets."

Major Headlines of the day:

SBI: Looking to merge five subsidiary banks with itself

Glenmark gets FDA approval for generic Rufinamide

Ajay Piramal and Shriram Group plan to combine Finance Businesses

Trend in FII flows:The FIIs were net  sellers of  Rs -224.97 Cr in the cash segment on Tuesday  while the DIIs were net buyers of  Rs 384.67 Cr, as per the provisional figures.

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Sensex, Nifty hold early gains; HDFC, Axis Bank, ONGC lead

Equity benchmarks maintained early gains with the Sensex rising over 150 points, led by oil, auto, infra, technology and select FMCG stocks. The broader markets also gained, rising 0.4 percent.

The 30-share BSE Sensex climbed 154.47 points to 25807.70 and the 50-share NSE Nifty advanced 46.45 points to 7907.20. The market breadth remained positive as about two shares advanced for every share declining on Bombay Stock Exchange.

Axis Bank and ONGC rallied more than 2 percent followed by HDFC and Bharti Airtel with over a percent upside while SBI and ICICI Bank lost early gains.

The Indian rupee opened marginally higher by 6 paise at 66.74 per dollar against previous close of 66.80.

"The USD has been strengthening since last week against high beta commodity currencies and the Yen, as energy prices touch 6-month highs."

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The Indian rupee opened lower by 13 paise at 66.90 per dollar versus 66.77 Friday.

The market erased early gains to trade marginally lower. Banking & financials and telecom stocks dragged while pharma, technology and select auto stocks supported the market.

The 30-share BSE Sensex fell 35.86 points to 25453.71 and the 50-share NSE Nifty declined 10.65 points to 7804.25. The market breadth was marginally positive as about 999 shares advanced against 756 declining shares on BSE.

"The rupee is expected to depreciate for the day taking cues from flat to negative global equity markets."

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Nifty still below 7850, Sensex wobbles; Bharti, HUL laggards

The market is still dragging with weakness in banks, capital goods, IT and metals. The Sensex is down 232.77 points or 0.9 percent at 25557.45, and the Nifty down 67.50 points or 0.8 percent at 7832.90.

About 670 shares have advanced, 994 shares declined, and 96 shares are unchanged.

Adani Ports, Tata Motors and Asian Paints are top gainers while Dr Reddy's Labs, Bharti Airtel, HUL, ICICI Bank and Tata Steel are losers in the Sensex.

Major Headlines of the day:

Bharti Airtel sets a benchmark of 1.5% for call drops for itself.

Nestle struggles to get out of the woods.

TVS Srichakra plans Rs160 crore capex.

Vu Tech to enter more cities, eyes Rs500 cr sales in FY17

Trend in FII flows:The FIIs were net  sellers of  Rs -24.14 Cr in the cash segment on Thursday while the DIIs were net buyers of  Rs 258.35 Cr, as per the provisional figures.

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INDIAN EQUITY MARKET OUTLOOK-12 MAY 2016

INDIAN BENCHMARKS Markets may open in red following weak global cues.

The key Indian equity benchmarks are likely to witness a gap down opening as foreign investors remain jittery amidst the amended India-Mauritius tax treaty that imposes capital gains tax on investments coming from Mauritius. SGX Nifty is trading 6.50 points lower.

Shares of Glenmark and Nestle India will be in focus as they unveil their March quarter earnings today. 

All eyes will be on the March industrial output and April consumer inflation data to be released today.

Indian shares fell on Wednesday, snapping two straight sessions of gains, on concerns the government may amend tax treaties with countries including Singapore after it agreed to tax capital gains on foreign investments from Mauritius. The S&P BSE Sensex and CNX Nifty fell 0.68%-0.49% each today.

Global Markets:

Asian shares fell on Thursday following a dismal day on Wall Street, while crude oil futures gave back some of their overnight gains after jumping on an unexpected fall in U.S. crude inventories. 

U.S. stocks closed lower Wednesday, under pressure from disappointing Disney and Macy's earnings, amid sharp gains in oil following a surprise inventory draw. 

European shares slipped on Wednesday as some weak earnings reports pushed the market lower after two days of gains.

Major Headlines of the day:

Sanofi recalls batches of Combiflam after regulator alert.

Adani Power raises Rs 330 crore through NCDs. 

Hero enters motorcycle racing in tie-up with German specialist.

Trend in FII flows:   The FIIs were net  sellers of  Rs -362.19 Cr in the cash segment on Wednesday while the DIIs were net buyers of  Rs 729.59 Cr, as per the provisional figures.

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Market recovers; Nifty still above 7850, Sensex down 100 pts

The market slipped at the opening on Wednesday. The Sensex is down 339.95 points at 25432.58, and the Nifty is down 99.75 points at 7788.05. About 142 shares have advanced, 649 shares declined, and 24 shares are unchanged.

Asia markets gave up much of their early gains on Wednesday to trade lower as the yen nudged higher against the dollar and oil prices retreated.

The Indian rupee opened lower by 13 paise at 66.80 per dollar on Wednesday versus 66.67 Tuesday.

Major Headlines of the day:

Tata Steel gets SEZ status for Gopalpur project.

EID Parry Q4 net up 59% at Rs267 cr.

JSW enters race for Tata Steel's UK business.

Trend in FII flows:The FIIs were net sellers of  Rs -328.59 Cr in the cash segment on Tuesday  while the DIIs were net buyers of  Rs 68.20 Cr, as per the provisional figures.

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Sensex, Nifty sluggish: BHEL, Axis, Dr Reddy's climb 1-2%

The market continues to be sluggish dragged by auto and metal stocks. The Sensex is down 52.73 points at 25636.13 and the Nifty is down 21.50 points or 0.3 percent at 7844.55. About 1014 shares have advanced, 977 shares declined, and 136 shares are unchanged.

HUL, Dr Reddy's Labs, BHEL, Axis Bank and Tata Steel are top gainers while Tata Motors, Hindalco, ONGC, M&M and Bajaj Auto are losers in the Sensex.

Major Headlines of the day:

Tata Steel takes seven potential bids for UK assets to next stage of sale process

Sun Pharma launches app for asthma patients

ONGC crude oil output up in FY16

Trend in FII flows:The FIIs were net  sellers of  Rs -224.40 Cr in the cash segment on Monday while the DIIs were net buyers of  Rs 350.60 Cr, as per the provisional figures.

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Selling pressure drags Sensex, Nifty; IT, pharma, IT laggards

Infosys will certainly achieve its 2020 annual revenue guidance of USD 20 billion with steady margins, says CEO and MD Vishal Sikka. Infosys reported revenue of USD 9.5 billion in FY16. In an interview to CNBC-TV18, Sikka says innovation and automation will be crucial factors to achieve this guidance. He acknowledges the industry faces pricing pressure but says the company will lower people per project and increase automation to achieve the margin guidance. The company will work on renewal of existing business through the platform named "Mana" which shifts focus from people only model to people plus software model, he points out.

Selling pressure continues on the market dragged by capital goods, pharma and IT stocks. The Sensex is down 130.97 points or 0.5 percent at 25131.24, and the Nifty is down 33.75 points or 0.4 perecnt at 7701.75. About 937 shares have advanced, 1070 shares declined, and 117 shares are unchanged.

SBI, GAIL, Bharti Airtel, Hindalco and ICICI Bank are top gainers while Adani Ports, Dr Reddy's Labs, Lupin, Wipro and HDFC are losers in the Sensex.

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